Even though rewards and cash back incentives tend to be the main enticement offered by credit card companies/issuers, there are often additional perks offered. Some only embed these added benefits within their lengthy terms and conditions. Meanwhile, many others, such as ...Read more →
Credit score companies FICO and VantageScore have recently adopted new ways of calculating your ability to repay loans, and the new scoring methods are making it possible for credit card users to have higher credit scores; both credit score companies put the credit score ...Read more →
In recent years, luxury credit cards have gone viral with new cardholders being so excited about getting their new status symbols, they've posted "unboxing" videos online when the card arrives in the mail.
Now Citi is trying to up its game in this segment to compete w...Read more →
Is cash on its way to becoming a financial dinosaur? If Visa has their way, extinction is imminent. Visa plans to hand $10,000 over to each of 50 restaurants and food vendors for marketing and technology upgrades if the business will commit to starting what Visa calls, ...Read more →
Going to college is the first time many Americans have their first experiences with adult-style responsibilities such as managing their money. The college experience presents unique financial challenges because students must cover all their expenses with little or no inco...Read more →
Citibank has launched its digital wallet called Citi Pay, which allows Citi customers to quickly pay for goods and services online, in-app or in-store.
The service was first rolled out in Singapore, Australia and Mexico last November, and it included tap and pay capabi...Read more →
After more than 16 years together, Citibank and Hilton are going their separate ways. Earlier this year, the hotel chain created an exclusive partnership with American Express, and beginning in January of 2018, all Citibank credit cards with the Hilton logo will stop work...Read more →
Consumer Financial Protection Bureau Opens the Door to Class-Action Lawsuits Against Credit Card Companies
The Consumer Financial Protection Bureau recently issued a new rule that makes it possible for consumers to sue financial companies. A group of credit card customers who have a dispute can now file a class-action lawsuit.
Credit card companies usually have a mandatory...Read more →
Curve, one of the hottest new mobile-wallet options out there, has rolled out a new feature that lets you switch which card you paid with. It’s like the first step towards time travel -- kind of.
Fittingly, they’re calling it ‘Financial Time Travel,’ and it’s patent pe...Read more →
You make decent money, and you’re good at managing it. You have more than enough cash to pay for the things you need, plus some left over for discretionary spending. You know people with credit cards who have staggering amounts of debt and they’re miserable. You don’t wan...Read more →
In our convenience driven world, we’ve shifted to a “get it and forget it” psychology. Need to order an Uber or Lyft at 1 am? Easy. Just use the app. Want to pay for parking without using coins? Download the app, connect your credit card information, and pay instantly. Bu...Read more →
It might pay to check your credit score this summer, as you might see it rise, even if you haven't done anything differently with your credit. Although the boost might seem as if it happened by magic, it's really the result of a new change credit reporting agencies (CRAs)...Read more →
Almost half of all Americans experienced credit card fraud between 2012 and 2016 according to statistics compiled by Aite Group of ACI Worldwide. Only two countries; Mexico and Brazil, have a bigger problem with credit card fraud than the United States.
There were gia...Read more →
Have you ever been duped by one of your phone’s apps?
You downloaded that fun new game or free rebate app, only to be tricked by pop-ups and ads asking you to pay to upgrade. Some are quite sneaky, too, inserting upgrade screens where you least expect them. You go to c...Read more →
A credit score is an important tool that lenders, billers and even landlords use to make decisions about you. A good credit score can mean you get a good interest rate on a mortgage or auto loan or get approved to move into that dream rental apartment. A bad credit score ...Read more →
The credit card thieves targeting you don’t need sophisticated hacking skills to get ahold of your credit card details and take all of your money. Though credit card skimming, the practice of stealing credit card numbers off the physical credit card rather than online, is...Read more →
Transunion just released the findings of their Generation Z’s Financial Report Card study conducted in May of this year. Teens from the United States, Hawaii, and Alaska between the ages of 13 and 17 were interviewed extensively about their ability to manage money, how th...Read more →
A new financial app launched this week with the promise that it will help consumers automate their financial lives. Tally aims to revolutionize the credit card industry by automating individuals' credit card management and saving money for those who carry balances from mo...Read more →
Finding an inaccuracy on something as important as your credit report can be alarming. After all, the impact can be wide-reaching and detrimental.
What does it mean? How will it impact your credit score and loans? More importantly, are you the victim of credit fraud? ...Read more →
Credit card popularity has skyrocketed in recent years, in part, due to incentivising points systems and cash back programs. But now, impending lawsuits are threatening consumers beloved cash-back programs.
But who in the world would have something against cash-back, ...Read more →
In the 21st Century, one of the most enticing credit card features is their various cashback and other rewards systems. But, what most consumers may not know is that the merchant or small business transactions fees fund the consumer rewards. Each time you use your credit ...Read more →
Millions of Americans use their credit cards to buy goods and services online, but this doesn’t mean ecommerce is getting any safer. Data security breaches continue to rise in 2017 as hackers attack retailers to steal credit card numbers and other personal information. If...Read more →
If you’ve ever booked a flight online, put down a deposit on a resort getaway, or even prepaid for a rental car, you’ve probably been offered the upsell of travel insurance. This add-on coverage varies in price, but is meant to ease your worries about the “just in case” s...Read more →
It is possible to use credit cards without going into debt. Many consumers use credit cards so they can receive rewards in the form of gift cards, travel miles, or even cash back.
The difference between people who use credit cards to their financial advantage as oppos...Read more →
As if college kids don’t have enough to worry about when it comes to finances -- think loans, books, rent -- they’re losing money banking, too. A new report found American college students are shelling out over $795 million a year on bank and credit card fees.
As of l...Read more →
Starting in 2008, the Federal Reserve held interest rates steadily at less than 1% for more than seven years to battle the crippling economic downturn. Times have changed, as seen by indicators such as record low unemployment rates, prompting the Fed to raise interest rat...Read more →
A recent poll by creditcards.com indicates that despite rising reports of credit card fraud, consumers continue to allow merchants to save their credit card and debit card details online.
Two-thirds of the poll’s respondents indicated that they allow at least one mobi...Read more →
You’ve probably seen these eye-catching cards out there, on television commercials or in your mailbox. You know, credit card companies offering ridiculously high cash back rewards – as much as 5 or 6%! – on the things you buy most: gas, groceries, and even Amazon.com purc...Read more →
With the unemployment rate slowly, but steadily, declining and the workforce participation rate showing an increase, it may come as a surprise that credit card defaults are also experiencing a bit of an upswing. While the defaults are nowhere near the 9% to 10% rates whic...Read more →
Right now the U.S. economy is looking pretty good -- unemployment is down and stocks are up, but more Americans aren’t paying their credit card debts.
That’s according to a new study by Moody’s Investor service, who says over the last two financial quarters banks have...Read more →
At the 2017 Wired Business Conference, sponsored by Visa, there’s evidence that the way consumers pay for goods and services is about to undergo sweeping changes.
Visa’s innovation chief, Jim McCarthy, would like physical credit cards to disappear. The company is work...Read more →
If you've ever been shopping at a major retailer--particularly one that sells high cost items like furniture or appliances or even medical and dental services--you've likely been asked whether or not you want to open up a store credit card so that you can take advantage o...Read more →
Credit card issuers love sending direct mail to solicit new cardholders, so you might be used to seeing a lot of credit card offers in the mail. Some of these have special, limited time rates for new cardholders who transfer balances onto the new card. Others contain bala...Read more →
Today’s hottest new accessory isn’t a designer bag or expensive foreign watch, instead, it’s a small piece of metal consumers carry mostly out of sight. That is, until it’s time to pay the bill.
The metal credit card craze has swept the nation, but for once it’s not r...Read more →
Ah, your credit score. The key to everything from a home mortgage to low interest rates, and everything in between. Some employers are even known to run credit checks on potential employees before offering them a position. Your credit score has a huge impact on almost eve...Read more →
Summer's just around the corner, so that means it's time to prepare for summer vacation. Whether you're staying close to home or traveling half way around the world, getting away from it all can be a great approach to resting and recharging--that is, until you get the bil...Read more →
Another day and yet another credit card data breach. This time hackers targeted Chipotle Mexican Grill at various locations throughout the U.S. (if you believe you might have been a victim of this crime, Chipotle provides information on the specific restaurants affected h...Read more →
Some people learn about credit cards and how to manage their spending at a very young age, but most people get their first exposure to swiping plastic on a regular basis after high school when they’re out in the world on their own for the first time. You’ve probably notic...Read more →
There are many benefits to paying with a credit card. Sign up bonuses and cash back programs offer credit card customers powerful incentives to open new accounts, switch cards, or simply continue to use the cards they like the most.
Unfortunately for many card users, ...Read more →
It’s true that credit scores make a massive impact on the financial lives of Americans. However, many people don’t understand what their credit score is and how it works.
The Federal Reserve Bank of New York reported that student loan, automobile, and mortgage balance...Read more →
Think back on your financial history over the past decade. You’ve probably grown a lot in recent years, picking up new habits and beliefs. It’s likely that you’ve begun prioritizing savings or budgeting more than you did before. Maybe you’ve even done some learning from m...Read more →
In an effort to give marketers more information on their online ad campaigns, Google is announcing a new tracking service that monitors how much money consumers spend in a brick and mortar store after seeing an online ad.
For example, if a local restaurant buys ad ca...Read more →
Having good credit scores opens many doors. Through judicious use of credit cards, you can get the credit scores you need to get approved for a home or car loan, rent a nice apartment, and even get a job if the employer does credit checks. Yet, a surprising number of Amer...Read more →
Hackers are always on the lookout for new ways to steal your identity. First, they swiped our credit card identities right from under our noses by hacking computer data or even physically scanning our cards through our wallets. Today, we have chip cards and pins for an ad...Read more →
Rewards card users open their credit card accounts with the best intentions. They look forward to cashing in on points, gift cards, miles, and even cash back offers. While it’s a lofty goal, many users fall short of their goal to get the most out of their rewards card acc...Read more →
I remember being 12 or 13 years-old and having my dad drop my friends and me off at the mall. He would often hand me a bill from his wallet – usually $10, but sometimes $20 if he was feeling extra generous – and bid us goodbye for a few hours. We were incredibly happy per...Read more →
The economy has improved, and credit card users are at their highest numbers since 2008, before the start of the Great Recession. Out of the 171 million Americans who use credit cards, approximately 16.33 million of them fall into the subprime category, and that’s the big...Read more →
Wherever there is data, there will be a hacker trying to access it. Every day we send 2.5 quintillion bytes of data to be stored on servers spread throughout the U.S. (and the world). Billions of devices are in perpetual connection to all-pervasive Internet we’ve come to ...Read more →
If you had to take a guess, how much would you say the average American holds in credit card debt? Would you guess $500? Maybe $3,000? Well, according to Experian’s latest study, we are actually carrying around much more: an impressive $5,551 in debt each.
The problem...Read more →
High-end bonuses and perks that come with many credit cards could be on the decline as credit card companies respond to both consumer demand for more easy to understand and accessible offers and rising debt levels in the upper middle class.
Getting an idea of the aver...Read more →
Chase set the credit card rewards world abuzz May 7 when it announced that existing owners of Sapphire, Sapphire Preferred, and Sapphire Reserve credit cards would receive 100,000 bonus points for taking out a mortgage with the company. Card users can redeem the points fo...Read more →
The number of credit card holders in the U.S. with at least one credit card has reached 171 million, the highest level since 2005. That’s according to the credit monitoring firm TransUnion.
"Overall, the credit market is performing well," Nidhi Verma, TransUnion's sen...Read more →
First Chase wowed travel-focused consumers with its fancy Sapphire card. Then Amex added a Platinum card to its luxury line. Now U.S. Bank debuts its Altitude Reserve Visa Infinite card, a luxury travel rewards card that gives extra rewards for using mobile payments.
W...Read more →
Forty three percent of Millennials currently have subprime credit, which means their credit score is situated somewhere between 550 and 620. This is surprising considering the fact that, in the Digital Age, information about how to keep a solid credit rating is everywhere...Read more →
When you're trying to get a credit card or other types of loans, like mortgages and auto loans, banks have to decide not just if they're going to lend to you, they also have to decide how much interest to charge you. One of the tools they use to help make that decision is...Read more →
Technology makes it easy to use credit cards pretty much anywhere, but where there's technology, there's a way to hack into it.
You've likely heard of skimming, a way card thieves steal credit and debit card numbers from card reader terminals at places like ATMs and g...Read more →
If you were paying attention last year, you probably heard at least something about Wells Fargo and their big scandal involving fake accounts. Even after their record-breaking fine, it seems that the massive bank isn’t done taking a beating.
What They Did
To rec...Read more →
It’s one of the most confusing and frequently pondered questions in personal finance, but untangling it could mean the difference between meeting financial goals or falling far short. Should you pay off credit cards or put money aside for emergencies?
The average Ameri...Read more →
Just when you thought you got the hang of this whole credit score thing, they’re changing the rules. The new changes to VantageScore, the alternative to FICO that’s often used when applying for credit cards, are based on increasingly-available trended data.
Forbes rep...Read more →
If you’ve been in the personal finance realm for any period of time, you’ve probably heard one of the classic rules of credit cards: Don’t close those old accounts, or your credit score will drop! But is this really true, and are there times where it really is smarter to ...Read more →
Security and convenience top the list of reasons many consumers continue to look for ways to leave their credit cards at home. For this reason, mobile payment systems offer an attractive value proposition to credit card holders: Load every credit card you have into the sy...Read more →
Applying for a new credit, an auto loan or a mortgage? You'd better hope that your credit score is good. This is a three-digit number that signifies what type of borrower you are, which is basically how well you manage money and debt and if you're likely to default on a l...Read more →
In the game of credit card industry vs. thieves, it seems as if the neck-and-neck race is never ending. As spending money gets easier with advanced technology, but it doesn’t necessarily get safer.
Almost half of Americans have been victimized by a credit card thieve...Read more →
If you’ve been on the market for a rewards credit card that offers great cash back across the board, you’ve likely come across the Citi® Double Cash card. Without the hassle of revolving categories (it offers 2% on every purchase you make, period) and the expense of an an...Read more →
One of the major benefits of credit card ownership today is access to lucrative points systems. But, a new study by Bankrate found that three out of 10 credit card holders (31%) have never even redeemed their rewards points.
Those points being left on the table can tra...Read more →
A surge in luxury, travel credit card signups that brought on huge points rewards could be what drives summer travel to be more hectic this year.
Gerard du Toit, a Boston-based partner at the consulting firm Bain & Company, explained to Marketwatch that about half of p...Read more →
Making an informed decision about which credit cards are best for a specific situation could mean the difference between having a great experience and ending up in real financial trouble.
Sign up bonuses and cash back offers are enticing, and credit card companies des...Read more →
The news is peppered with accounts of hackers breaching company networks and stealing data. In fact, InterContinental Hotels Group (IHG), parent of Holiday Inn, is one of the latest companies under scrutiny for data breaches. The hotel company acknowledged in February tha...Read more →
As a parent, you want your kids to have a leg up in this world, which is why you move to areas with good schools and encourage them to excel in sports and their other interests. It might be challenging to even think about your kids having credit reports and credit scores ...Read more →
For a while, a lot of people thought physical credit cards would become obsolete and that payment apps and smart devices would make it so that consumers never had to swipe their plastic in public again. So naturally, the metal credit card craze caught industry observers ...Read more →
Initially, it appeared to be a great idea in the Digital Age: a single, programmable card that would digitally store 20 credit or debit cards. Users would be able to switch between the different cards depending on which one they wanted to use. Indeed, Plastc was overwhelm...Read more →
There are many credit cards out there, all offering a little something different to their consumers. You have cards that earn cash back or miles, rewarding cardholders for their spending habits. Some give 0% APR on purchases and/or balance transfers for a period of time,...Read more →
Tax season is here. In fact, the deadline is quickly approaching. That means procrastinators, those dealing with confusing filings, and others who are avoiding the big bill are now looking this fateful day in the eye. But, there’s also the early filers who have already co...Read more →
So you have two debit cards, seven credit cards, and more rewards cards than you can count. Keeping track of all that plastic can be aggravating, especially if you try carrying them around with you all of the time. And then there’s traveling. If you’re a globetrotter usin...Read more →
New data from the Federal Reserve shows that consumers in the United States have combined credit card debt at a level that hasn't been seen since before the most recent recession.
The Federal Reserve tracks consumer debt on a monthly and quarterly basis. Revolving deb...Read more →
When you just want a little bit of information about your credit card, why would you bother calling customer service just to spend a lot time going through phone menus or sitting on hold--or worse, have to deal with a keypad that doesn't register or your card number, or h...Read more →
In the world of credit card scoring, many consumers aren’t aware that credit card lenders can utilize various credit scoring reports to determine your creditworthiness -- indeed, there are dozens of ways your score can be calculated.
While there isn’t exactly a “secre...Read more →
A new threat to people with chip cards called "shimming" is causing problems with the newest credit card technology designed to prevent theft and identity fraud.
EMV, or “chip” cards are common, now. This new technology is supposed to keep us safe from the unpleasant s...Read more →
If you’ve thought about trying your hand at travel hacking – the process of utilizing credit card sign-up bonuses and mileage rewards to make your globe-hopping dreams come true – you’re in on one of the best credit card tricks around. However, there are a few things you ...Read more →
Financial institutions specialize in getting you excited about rewards so you’ll sign up for their credit cards. You usually can claim the rewards based on how much money you spend on the cards and where, and they can add up to some pretty amazing deals, especially if you...Read more →
A year after launching its first credit card for international students in the United States, SelfScore is releasing their Achieve Mastercard to further help students from abroad build up much-needed credit scores for life in America.
The SelfScore Achieve Mastercard i...Read more →
The Supreme Court released a decision on a case surrounding First Amendment rights around how retailers can talk about credit card surcharges and cash discounts. The Court also rejected two other appeals, ending the opportunity for more credit card cases to be heard at th...Read more →
It’s likely that credit card interest rates will rise throughout 2017 as the Fed hikes rates, as promised. Now, more than ever, it’s important to concentrate on paying down, or even paying off credit card debt. Not only will paying down those lingering debts save you from...Read more →
For a majority of Americans, spending extra cash on various credit card fees and surcharges is a pain point they prefer to avoid. Since the bottom line of many businesses is also largely impacted by the banking industry, additional fees place merchants in a precarious pos...Read more →
If you’ve ever opened a credit card, bought a home, or even signed up for high speed internet, you’ve had your credit checked. In order to determine your creditworthiness, lenders will often turn to one of the three credit bureaus -- TransUnion, Equifax, or Experian – for...Read more →
The hassle of paying bills never goes away no matter how much or how little money you earn. If you prefer or need to use your credit card rather than cash to pay bills, you’re stuck when certain businesses, such as those to which you pay rent, car payments, property taxes...Read more →
While many credit cards offer annual breakouts of how you spend money on your credit card, some people find it useful to have cards for specific spending purposes. For car enthusiasts who spend money fixing up their cars or even car owners who have aging cars that they're...Read more →
One of the biggest changes to credit reports for US consumers is scheduled for July 1 of this year. The bureaus will stop reporting some types of judgments and tax liens. As a result, many Americans' FICO scores will go up.
The National Consumer Assistance Plan (NCAP) ...Read more →
The Fed has increased interest rates only three times since the financial crisis of 2007-2008: the most recent coming in March of 2017. While this may signal a perceived boost in the U.S. economy, interest rate hikes – even as minuscule as a quarter of a point – cause a c...Read more →
Most of us know whether our credit cards give us cash back or points or miles when we make purchases, but do you know all of the other benefits your credit card may give you, such as car rental insurance, extended warranties and trip cancellation protection?
A new app...Read more →
Have complaints--or kudos--about how well your credit cards actually work for you? The Consumer Financial Protection Bureau (CFPB) wants to hear from you to help it compile its latest credit card review.
The CFPB, the government agency that looks out for consumers' int...Read more →
Will credits for Uber rides be a tempting enough reward for consumers to sign up for a new credit card? American Express hopes so. The credit card has recently announced it's updating the rewards--and fees--associated with it Platinum Card.
Beginning March 30, America...Read more →
As the old saying goes, it takes money to make money. In personal finance, sometimes you need to borrow money in order to make an investment that can reap a larger reward. This can be having the ability to buy a computer that can help you further your education or get cer...Read more →
In the cult classic "Austin Powers: International Man of Mystery," the villain Dr. Evil learns a thing or two about the changing value of money. When he demands a ransom of one million dollars, his Number 2 quietly informs him that that's not that much money in today's do...Read more →
Not quite two years after it shipped its first batch of product, Coin, the technology company that made a big splash by providing a credit card consolidation tool to make your wallet slimmer, is calling it quits.
Coin launched in November 2013, and after months of dela...Read more →
Valentine's Day is just around the corner, and whether you'd like to get a gift for that special someone in your life, celebrate the love of friendship or treat yourself, that means you're opening your wallet. According to Bing, last year people spent a record $19.7 billi...Read more →
A stronger economy means more consumer confidence, and the American Bankers Association's latest Credit Card Market Monitor report reflects this concept, as it found that more consumers are interested in having and using plastic as a form of payment.
Last August, we h...Read more →
Identity theft can be completely ruinous. Thieves who get your information can open credit cards and mortgages in your name. In some cases, they drain your bank account or charge their medical bills to you. The consequences can be dire in terms of suddenly thinking you're...Read more →
Membership often has its rewards, and Amazon hopes that its new Visa card will entice people to sign up for its Amazon Prime service. Now members of Amazon Prime can now apply for a new Amazon Visa card that's just for them--and offers rewards of its own.
This week, Am...Read more →
It wasn't a happy new year for TransUnion and Experian, as these two credit reporting agencies entered into a settlement with the Consumer Financial Protection Bureau (CFPB) for deceptive information about and marketing of credit scores and credit-related products. The tw...Read more →
Will 2017 be the year you finally pay off your credit card debt? Or maybe make a sizeable dent in it? Don't worry--you're not alone. According to the Federal Reserve Bank of New York, American households are carrying a total of $747 billion in credit card debt, which mean...Read more →
For many people, shopping online takes the hassle out of going to the store. There's no traffic, no crowds, no lines--you can sit at home in your pajamas and shop in comfort.
However, as more people shop online and credit card technology improves, credit card thieves ...Read more →
Last week, the Federal Reserve raised interest rates. As usual, this announcement caused a lot of fuss in the financial world, because whenever the Fed makes a move like this, it's big news because it affects a lot of things within the national economy, including the inte...Read more →
A few weeks ago, this space ran an article about a data breach at Madison Square Garden that may have affected credit card holders whose cards only have magnetic stripes. If these cards had had EMV chips, the likelihood of their card information being stolen and potential...Read more →
One way to avoid getting snowed under by a mound of credit card debt is to make sure you pay off your balance in full every month. Another--and very popular--way is to use a debit card. While using a debit card helps you spend only what they earn, there are some drawbacks...Read more →
This month, Madison Square Garden announced that it has been the victim of a long security breach that has put its in-venue customers at risk for having their identities stolen.
The breach is suspected to have lasted almost a year, from November 9, 2015 to October 24,...Read more →
Before you can get your Thanksgiving turkey on the table, your mailbox and inbox are filled with holiday shopping catalogs and offers. Whether you've already crossed everyone off your list or you're waiting to shop until it's actually Black Friday, you should be thinking ...Read more →
Since 2010, American Express has encouraged consumers to spend at least one day a year shopping at small businesses in their area. Small Business Saturday, as it's known, takes place on the Saturday after Thanksgiving--or in shopping parlance, the day after Black Friday, ...Read more →
It's been a rough couple of months for the leadership at Wells Fargo, ever since the scandal broke that some of the company's employees had been opening different types of accounts--including credit card accounts--for customers without their permission. This issue with We...Read more →
When you're mired in credit card debt that stems from outstanding balances on multiple cards, the mailer with low-rate debt consolidation checks from your credit card issuer might be the saving grace that helps you get out of debt--or are they?
Credit card issuers that...Read more →
Identity theft protection company LifeLock has just released a mobile app that can help consumers manage all of their credit card accounts in one place.
Called Identity, the company bills it as a "personal assistant" to help you manage your online accounts through your...Read more →
Want credit without the credit card debt? Online shopping with Affirm, an alternative credit product can make that possible.
Affirm is a fintech company that's been around for a little over two years. Founded by PayPal co-founder Max Levchin, it's designed to allow con...Read more →
Debit cards are a popular payment option because they allow people to manage their finances and budget within their means. Credit cards are popular because they can help consumers buy big-ticket items, and many of them come with rewards programs. Although banks may offer ...Read more →
Green Dot Corporation, better known for its prepaid debit cards, has launched a Visa secured credit card that's designed to help consumers who have little to no credit history, or who have low credit scores, the opportunity to build their credit while having the benefits ...Read more →
American Express scored a big victory this week, as it won an appeal around whether merchants can guide customers into using other types of credit cards.
The case first started in 2010 when the U.S. Justice Department and 17 states sued American Express, Visa and Mast...Read more →
The next time you open your mailbox and pull out a fistful of credit card offers, try a little experiment: Did you get the same exact offers as your neighbors? As other members of your household?
By "exact offers," I don't mean that you and your spouse both got offers...Read more →
One of the reasons financial experts recommend checking your credit report regularly is to make sure that nothing unusual, suspicious or false is on it. Sadly, this advice rings true, as the Consumer Financial Protection Bureau (CFPB) is fining Wells Fargo for doing just ...Read more →
When you have fine tastes and an income to match, it's likely that you'll want a luxury credit card for your handcrafted Italian leather wallet. Several luxury cards exist, but Chase Card Services has just launched another card to tempt consumers who are willing to pay $4...Read more →
This summer, American Express has announced several special offers for its cardholders. The company is celebrating the 25th anniversary of its Membership Rewards program; it's partnered with online warehouse retailer Boxed; and it's offering special travel rewards for new...Read more →
For the third year in a row, J.D. Power has named Discover as the best in credit card customer satisfaction, narrowly beating out former stalwart American Express.
"This recognition by J.D. Power for the third consecutive year inspires us because it comes from our card...Read more →
While all eyes are on Rio de Janeiro this August to watch the best athletes in the world compete at the Olympic Games, Visa is also debuting some new payment technologies to showcase what the credit card company has on tap in terms of wearable payments.
Visa is a TOP (...Read more →
Although the country's economic growth has been weak, the credit card market has seen healthy growth in the first quarter of the year, according to a new report released by the American Bankers Association this month, and signs point to consumer spending and a better labo...Read more →
The Federal Trade Commission (FTC) recently announced that victims of an illegal credit card billing scam from the 1990s could be getting part of the settlement monies due to them, as the commission's claim administrator has started to send out the third round of redress ...Read more →
Card fraud is a very real thing. Even with EMV chips--which are supposed to help decrease the incidence of credit card fraud--stealing individuals' card data, whether it's credit, debit or prepaid cards, is still rampant around the world.
Card Fraud victimizes about o...Read more →
Credit card partnerships, such as an L.L. Bean Visa card or a Delta Airlines American Express card are an important part of the credit card market. According to Packaged Facts, co-branded partnerships make up a full 43 percent of the credit card market today.
When par...Read more →
Over the last few months, several retailers have opted to create their own credit cards. These store cards, also called retail or private label credit cards, are options that can only be used at one particular store. These cards can also be incorporated with store loyalty...Read more →
Millennials have become the darlings of marketers, now making up the largest population group in the country. Because it's so large and is now in prime spending years, this generation will also affect the economy with how Millennials spend their money.
FICO recently re...Read more →
Ally Bank, an Internet-only banking institution, has launched its first credit card, a cash back rewards Visa card.
Cardholders can earn cash back on all eligible purchases they make with the card. Gas and grocery purchases earn two percent cash back. All other purchas...Read more →
A Florida bank has become the first bank in the United States to issue a credit card that will work in Cuba. Stonegate Bank, headquartered in Pompano Beach, has announced its new MasterCard that will allow American travelers to use a credit card in Cuba.
This is a big ...Read more →
In May, Fitbit announced that it's acquiring the wearable payment assets of Coin, the digital credit card consolidation product.
Coin made a big splash in 2013 with its digital card consolidator that allowed users to keep information for multiple credit cards on one de...Read more →
While traditional credit card companies are slowly converting to new chip technology and mobile wallets like Android Pay and Apple Pay are slowly gaining traction at retailers, digital card consolidation products are still popping up to help you manage the physical clutte...Read more →
Discover, who was one of the first credit card companies to offer free credit scores to its cardholders, is now offering that service to all U.S. consumers, regardless of whether they have a Discover card.
"Credit scores play an important role in many of life's big mo...Read more →
Senator Dick Durbin from Illinois is a name associated with the financial services industry due to the Durbin Amendment, which was an add-on to the 2010 Dodd-Frank legislation to institute financial reform in America. Durbin's amendment limited the amount banks could char...Read more →
MasterCard has tapped into the popularity of comic book heroes by teaming with Synchrony Financial and Marvel Partnerships to offer its take on the trend: a Marvel MasterCard credit card that offers cashback rewards and Marvel-related cardholder benefits.
"The Marvel M...Read more →
When consumers aren't afraid to spend and the job market is good, credit card usage tends to rise. The American Bankers Association found that that's the case in a steady year-over-year increase during the fourth quarter of 2015, as the association reports in its latest C...Read more →
The conversion from magnetic stripe credit cards to the more secure EMV chip has been a long, complicated journey in terms of not just replacing consumers' credit cards, but also making sure that merchants have the terminals that have the ability to accept chip cards.
...Read more →
Getting a college education usually carries some assumptions about levels of knowledge and ability that college students might have. However, assumptions might not always be accurate.
LendEDU, a marketplace where students can shop for loans and refinance existing loan...Read more →
Over the last several years, the federal government has tightened the noose on credit card issuers, in hopes of making credit cards more fair and easier to understand. Although the Fed 2008 credit card rules, the CARD Act of 2009 and the Consumer Financial Protection Bure...Read more →
Earlier this month, Walmart, the world's largest retailer, announced it's changing the rewards on its Walmart Credit Card and Walmart MoneyCard credit card program, in what seems to be an effort to compete with other retailer card programs, particularly the new Costco Vis...Read more →
Moving to the US to study can be daunting for international students, but a new company intends to make one aspect of the cultural shock a little easier: the ability to get a credit card.
Traditionally, international students living in the United States haven't been ab...Read more →
Earlier this year, Corporate Insight, a New York-based competitive intelligence and user experience research firm, released its fourteenth annual Credit Card Monitor Awards. These awards rate different banks in terms of their online and mobile car tools in a variety of ar...Read more →
Being rewarded for using a credit card is a must for many American consumers--last year the American Bankers Association noted that a full 83 percent of credit card users have rewards-based credit cards, showing just how much cardholders like to be rewarded for spending m...Read more →
Last year JetBlue dropped Amex, its ten-year credit card partner, and picked up a new friend in Barclaycard. This week, the two companies announced JetBlue's new line of credit cards that target both businesses and consumers as a way to earn JetBlue points and travel rewa...Read more →
This week is National Consumer Protection Week, an annual campaign that's designed to highlight financial topics, inform consumers about their rights and promote tools that help people make better-informed decisions.
Sponsored by the Federal Trade Commission, the even...Read more →
New chip technology? That's old news. If you're looking for the latest and greatest in state of the art credit cards, look no further than the new Luxury Card. Developed by MasterCard, this new portfolio of luxury credit cards, you can now hold a card that's designed to g...Read more →
Consumers who were Citibank credit card holders and had their accounts sent to debt collection might see a little relief, thanks to two Consumer Financial Protection Bureau (CFPB) actions released today.
The CFPB took two separate actions against Citibank with regards ...Read more →
Just in time for the Daytona 500, NASCAR has announced a multi-year partnership with Credit One Bank to issue NASCAR-branded credit cards and have the designation "Official Credit Card of NASCAR." Additionally, Credit One has also will partnered with Chip Ganassi Racing ...Read more →
Do love and money mix? Or should they mix? This year, as couples look forward to Valentine's Day, new survey results suggest that couples prefer fun as opposed to talking about money--an attitude that could cause big surprises as things get serious.
This year, Discover...Read more →
Credit scores are funny things. A three-digit number that can change at any given point in time can be the one thing that holds you back from getting a better car, a better home and perhaps a better life. Unfortunately, a new survey by Chase Slate found that many American...Read more →
If you need to build credit, it can be difficult to get a credit card company that's willing to take a chance on you. Likewise, if your credit's been destroyed, it can be really hard to get a credit card again in order to start rebuilding your credit history. Without a cr...Read more →
New Jersey-based TD Bank has added another credit card to its card portfolio, now offering a cash rewards option to consumers, with a bonus for those who dine out often.
While TD Bank's other credit cards offer miles or Ameritrade rewards, this card focuses on cash as ...Read more →
If your wallet can hold more plastic, you've got more credit card options, as retailer Wawa has launched a new private label store credit card and Wells Fargo has added another American Express option to its line of American Express Propel cards. Or if you prefer to pay d...Read more →
Last year, American Express lost some long-time partners as both Costco and JetBlue left their co-branded partnerships with the credit card for other brands. Now Fidelity Investments is ending its 12-year partnership with Amex and moving over to Visa.
Fidelity's announ...Read more →
Last week we started looking at the Consumer Financial Protection Bureau's (CFPB) biennial report on consumer credit cards and the gains that consumers have made since the CARD Act was signed into law, including saving billions of dollars on over-limit and late fees.
T...Read more →
When the CARD Act was passed in 2009, it hoped to reform the credit card market by making sure credit card issuers used fair practices that were clearly outlined to their customers. The law also planned on holding companies accountable for unfair practices, and this month...Read more →
Every week it seems like there's another product hitting the market that will allow you to use your credit card--without actually using your credit card. The Apple Pay, Android Pay, Coin, Samsung Pay, the Apple Watch, other wearables that double as payment devices…the lis...Read more →
Ten years ago, most of us never thought we'd be so connected to our phones, let alone be able to do so many things with them. Now we're entering a phase of emerging technology that will introduce many of us to the concept of wearables, clothing or devices that incorporate...Read more →
With Thanksgiving deals, Black Friday and Cyber Monday kicking off the holiday shopping season, it's not just prime time for using your credit card to spend money, it's also prime time for hackers to steal credit card data. Nobody wants the gift of identity theft this hol...Read more →
It's the government agency that's watching out for your financial interests. The Consumer Financial Protection Bureau's (CFPB) job is to make sure American consumers are getting a fair deal when it comes to financial products.
One of the ways the agency stays on top o...Read more →
With mobile payments being touted as the next great way to use your credit card, this week I decided to jump on the mobile payments bandwagon and see what life would be like paying with my phone.
Even though I could have used Google Wallet when I got my Android phone,...Read more →
Rewards are a popular feature with credit card holders, which means credit card issuers try to make sure they're on top of the latest trends in rewards that maximize value for their cardholders. This month, Navy Federal Credit Union (Navy FCU) upgraded its rewards program...Read more →
This November, Chase Card Services' Marriott and United co-branded credit cards are working together to offer double rewards through Chase's "Double Stay, Double Go" promotion.
Chase says this is the first time it's offering this type of reciprocity between these two c...Read more →
If you're buying something at a store and want to pay with credit, you're probably already quite used to pulling out a plastic credit card. MasterCard announced this week that it is launching a program to expand the types of objects consumers can use to pay with MasterCar...Read more →
This fall, one of the big milestones for implementing EMV chip card technology passed with a lot of fanfare, but not a ton of implementation. Merchants have been slow to upgrade their terminals, and card issuers have been slow to send out chip cards. Now an FBI Public Ser...Read more →
When you got your last credit card, did you also sign away some of your rights? You may have, without even realizing it. Some credit card companies bury language within the fine print of their card agreements that doesn't allow cardholders to band together in class action...Read more →
Personal finance experts advise getting copies of your credit report annually to make sure that it's accurate. You want to make sure that everything on your credit report is attached to you and not someone trying to steal your identity or that the credit bureaus haven't a...Read more →
We're heading into cold and flu season in the United States, which means that a lot of people take precautions to protect themselves from getting sick: Getting a flu shot, making sure not to touch people who are coughing, washing hands more often, being careful about what...Read more →
When you flip the calendar page to October this week, listen closely--you might hear those ominous, "BA BUM BAAAA" tones. Well, maybe you won't, but in the credit card industry, October 1 is a fairly ominous day, as it's one of the major deadlines in the road to transitio...Read more →
While the U.S. continues its shift from very outdated magnetic stripe technology to EMV technology, payments companies are already trialing what could be the next thing in payments: biometrics.
Both Visa and MasterCard are testing the waters with adding biometric eleme...Read more →
For years experts have touted mobile payments as the wave of the future, but they were a fraction of the types of payments consumers made. Now with Apple Pay, Samsung Pay, Android Pay and Google Wallet, we may now be hitting the tipping point for mobile payments being the...Read more →
Coin, one of the many credit card consolidation devices on the market, has recently released Coin 2.0, which incorporates NFC technology and is EMV-Ready. This allows users to add EMV cards to their Coin and make contactless payments with it.
The Coin device touts the ...Read more →
Discover has finally toppled American Express off the top of J.D. Power's annual U.S. Credit Card Satisfaction Study this year, making 2015 the first year Amex has not been the national leader in this prestigious survey.
2015 marks the ninth edition of J.D. Power's sur...Read more →
A little less than a year before the next installment in the Star Trek movie reboot series is released, NASA Federal Credit Union (NASA FCU) has launched a set of Star Trek Visa-branded rewards credit cards.
The cards come courtesy of a licensing agreement with CBS Co...Read more →
Now that summer is in full swing, many of the major credit card brands are pulling out the stops on special offers and deals to help their cardholders enjoy the summer even more. Here's a quick look at some of the programs they have on tap.
Discover Extends Double Cas...Read more →
If you want to think about the evolution of payments, just think about what a cashier would ask you in the checkout line. If you remember far back enough, you'd be asked, "Cash or check?" That gave way to, "Cash, check or charge?" which then turned into "Cash or credit?" ...Read more →
If Visa is everywhere you want to be and MasterCard offers priceless experiences around the globe, what does Discover, the third largest credit card network in the world offer? Now with a new deal, it will offer more acceptance worldwide for its Diners Club and Discover b...Read more →
The Consumer Financial Protection Bureau (CFPB) and Office of the Comptroller of the Currency (OCC) have once again fined a major bank millions of dollars for unfair practices. This time, JP Morgan Chase is under the microscope for illegal debt collections practices.
T...Read more →
Using your credit cards as a way to float money until you can pay off the bill is a pretty standard practice, but a new study from Allianz Life Insurance Company of North America found that nearly half of Generation X is beginning to think that having credit card debt is ...Read more →
For many people, the summer months mean it's time to tap into that bank of vacation days and spend some time relaxing in the warm weather. With the cost of travel a lot lower this year, the possibilities of hitting the road for a little R&R seem more feasible than ever be...Read more →
Could it one day be legally possible to have basic credit card debt forgiven? If Rep. Scott Peters had the choice, the answer would be yes. Early last month, the congressman from the San Diego area introduced the Consumer Debt Forgiveness Tax Relief Act of 2015, which if ...Read more →
"We are Farmers! Ba ba ba dum bump bum bum bum!" If you've heard Farmers' jingle before, you know how it goes and just how much of an earworm it can be. Farmers wants that though, and now they want you to hear it every time you open your wallet, as the company is launchin...Read more →
TransUnion, one of the major credit reporting bureaus, has found that in the last year, consumer credit card debt and delinquency rates have stayed the same even though the number of new credit card accounts has increased.
In its recently published Industry Insights Re...Read more →
Several credit card issuers have launched new cards or special bonus offers for their existing cards, tempting consumers to add more credit to their wallets or earn larger rewards during the prime summer months.
TD Bank and TD Ameritrade have launched a new high reward...Read more →
Does your heart sink whenever you get your credit card bill? Do you feel a sense of dread when you look at your outstanding balance and wonder how--or when--you'll pay it off? Does having multiple credit cards that are maxed out or have balances close to their limits give...Read more →
Cash back rewards are one of the most popular types of credit card rewards, and Discover is upping the ante with a special summer two-month promotion tied to its Discover It card that offers double cash back rewards after the first year of holding the card.
This two-mo...Read more →
Last year we wrote about the Magnises card, an uber-exclusive black steel card for the New York City market. The Magnises card isn't a different credit card because it uses the data from one of your existing credit or debit cards, but the new card offers perks like access...Read more →
As I write this week's article, I'm on my way home from Australia, where I've been for the past twelve days. While I was gone, I tended to joke that I was living in the future because I was 14 hours ahead of everyone at home, but when it came to buying anything and paying...Read more →
After about two years and many delays, universal credit card Coin has started shipping its product to the nearly 350,000 early adopters who jumped at the opportunity to fund Coin's crowdfunding campaign to support the product.
Coin made a big splash when it launched--t...Read more →
American Express has teamed up with Plenti, a loyalty coalition, to offer a new cobranded credit card that allows cardholders to earn Plenti rewards points. Members of the Plenti rewards program can use these points at a variety of retailers around the U.S.
The America...Read more →
Floridian Emily Sacharow was visiting Seattle when suddenly she couldn't find her credit card. "I thought I left it in the airport in Seattle and I panicked especially because I was traveling, so I went to the nearest Bank of America. They cancelled the card right away an...Read more →
April 15 can put fear into a lot of people, as that's the day that taxes are due. If you're one of the lucky ones who get a refund, the only thing you need to worry about is making sure your tax return is filed on time. If you owe the IRS money, it's not a particularly gr...Read more →
One of the objectives of the Consumer Financial Protection Bureau (CFPB) is to make sure that financial service products work for Americans, and when they don't, the CFPB wants to hear about it.
To that end, since July 2011 they've logged over a half million consumer ...Read more →
The CVV code may be better known as "that three-digit number on the back of your credit card." CVV stands for Card Verification Value, and this system, which is either a three-digit number on the back of your card, or, in the case of American Express, a four-digit number ...Read more →
A rewards card can be a credit card holder's secret weapon in getting ahead, when you can make the rewards work for you. Maybe you're trying to build up points to buy big-ticket items on the cheap. Maybe you're collecting miles to take a big trip and fly first class. Or m...Read more →
Mobile payments have been "the next big thing" for many years, but actually getting Americans to use their phones as a payment device has been a different story. Apple Pay made a big splash last fall when it was introduced in Apple's new iPhone 6 as a way to load credit c...Read more →
If you like to go places, chances are you might have some sort of travel rewards card in your wallet. Whether you're saving up airline miles on your favorite airline or points to get rooms at your favorite hotel, travel rewards can be a big reward for doing everyday shopp...Read more →
Perhaps you're celebrating National Consumer Protection Week (NCPW) with a big slice of cake or making a special NCPW sandwich, but hopefully you're also learning about different ways to protect yourself financially. For credit cards, one of the best ways to protect yours...Read more →
Did you know that as a consumer you have rights when it comes to a lot of products you interact with? If you didn't, then next week is your week to learn. March 1-7 has been designated National Consumer Protection Week, a national effort to educate people about the rights...Read more →
Even long relationships can go sour. After a 16-year partnership, Costco has decided to call it quits with American Express, its exclusive credit card provider.
Costco only accepts American Express cards at its warehouse stores, and the two companies teamed up on a co...Read more →
Data breaches and stolen credit cards are a couple of the ways people experience identity theft, and keeping personal information private is a key part of securing them. However, our personal information isn't the only thing that can identify us, according to a study by r...Read more →
Last year--and yes, it was only just over a month ago--didn't it seem like every week there was yet another report of a data breach or a store or company that had its information hacked? That's probably because there was. The Identity Theft Resource Center (ITRC) found th...Read more →
Modernization has changed the effect that humans have had on the earth, and the increase in greenhouse gases in Earth's atmosphere mainly due to burning gasoline and other fossil fuels for energy, deforestation, industrial production, and other practices have led to an in...Read more →
MasterCard is continuing its Priceless promotional program, and this year's it's teamed up with entertainer Gwen Stefani to bring surprise into MasterCard users lives.
This year the program is called Priceless Surprises, and instead of previous iterations of the progra...Read more →
The term "smart wallet" usually infers technology that stores one or more credit cards on your smart phone so you can use your phone to pay for things. But what if you don't have a smart phone? Does that mean that technology is off limits to you?
NXT-ID doesn't think ...Read more →
Rewards are nice, which is a big reason why rewards credit cards are so popular. However, being able to redeem those rewards easily is also a key to whether or not you'll use the card often--or often enough to make the rewards worthwhile.
Now Wells Fargo has simplifie...Read more →
The Consumer Finance Protection Bureau (CFPB) has released its annual report on marketing credit cards at colleges and universities, and it shows that the number of credit card agreements between schools and financial institutions continues to decline. However, the inform...Read more →
Citi's turning up the pressure on the competition with its latest cash back card, offering cash back not just at the time of purchase, but also when you pay it off.
Citi's new Double Cash Card gives one percent cash back on all eligible transactions--what you spend on ...Read more →
Today's credit card news is full of stories about the migration from magnetic stripe technology to EMV chip technology, and how that will make credit cards less susceptible to fraud. That's very true--a Federal Reserve Bank of Atlanta Working Paper noted that when credit ...Read more →
Dynamics, Inc., a Pittsburgh-based intelligent payment device and payment platform provider has secured $70 million in funding and finalized partnerships with MasterCard and Canadian Imperial Bank of Commerce (CIBC) for its next-generation interactive payment card.
Wh...Read more →
The holiday shopping season is underway as retailers have been touting Black Friday and Cyber Monday deals for weeks in an effort to lure customers to their stores or websites. In years past, shoppers paid with cash. As credit cards became more proliferate, they became th...Read more →
Just in time for the holiday shopping season, Discover has made some changes to its Cashback Bonus rewards program, launched a new shopping site and has new Cashback bonus categories for the last quarter of the year.
First, the company has revamped how cardmembers can ...Read more →
Credit card late fees can feel like a slap in the face. Not only are these fees expensive, but cardholders who happen to pay late will also incur more interest charges and may even have a higher penalty interest rate imposed.
Thankfully, there are many strategies that ...Read more →
Recently, California became the first state to prohibit plastic shopping bags from being distributed for free, ending the question of "paper or plastic" for tens of millions of shoppers. Yet Californians can still expect to hear this familiar question when they try to che...Read more →
Authenticating payments has been a big issue in combatting credit card fraud. Having a credit card in hand and perhaps even showing a photo ID doesn't necessarily mean that the person whose in possession of the card is the owner of the card. As the future trends toward mo...Read more →
Americans are very frustrated with airline credit cards, and who can blame them? The airlines continue to raise the number of miles needed to earn an award, and the awards offered at the lowest mileage levels have become vanishingly scarce. But at the same time, credit ca...Read more →
It has become a tradition for the public to be enthralled by Apple's product releases each year, and 2014 was no exception. This year, Apple went beyond mere consumer electronics and chose to dabble in a retail payment system it calls Apple Pay.
Apple Pay allows shoppe...Read more →
As the weather turns nasty this winter, travelers will often find themselves trapped in monotonous airport concourses, waiting for flight out. And even in the best of circumstances, travelers need an oasis from the crowded food courts and overpriced shops that litter toda...Read more →
The law requires that consumers receive a free copy of their credit report every year, but that is not the same thing as a credit score. Consumer credit bureaus produce credit scores so that businesses can determine someone's credit worthiness from a simple number, rather...Read more →
In October, President Obama signed an Executive Order to launch a new initiative designed to secure consumers' transactions and personal data. The BuySecure initiative aims to give consumers more ways to fight identity theft, and it encourages companies and the financial ...Read more →
One of the biggest advantages of using a credit card when traveling is the rental car insurance offered by most cards. These policies are actually collision damage waivers that allow cardholders some benefit if their rental car is stolen or involved in an accident. Using ...Read more →
Headlines were made recently when President Obama disclosed that his own credit card was rejected at a New York City restaurant last September. At the time, the President speculated that it was due to a false fraud alert being triggered on a credit card that he didn't use...Read more →
We're continuing our series on consolidated credit cards. These are cards that you can load most, if not all of the cards in your wallet onto in order to make your wallet a little slimmer, provide ease of payment and make it more difficult for thieves to steal one of your...Read more →
In the payment industry, there is nothing hotter than the trend towards prepaid debit cards. Major companies issue them, the Millennial generation uses them, and celebrities endorse them, but how do their features and benefits stack up against standard credit cards?
Th...Read more →
Navigating our modern travel system is all about managing the indignities you must face. Will you have to arrive two hours early to wait in a line to check your bags, go through security, and board the plane? Will you be asked to pay fees for your bags, for a better seat,...Read more →
We're continuing our series on credit card consolidators, but the subject of this week's article might be considered just the opposite. Many of the card consolidation products on or coming to the market promote the idea of putting all of your cards onto one device in orde...Read more →
When you think about it, credit cards are a beautiful system. Cardholders are assured a secure and convenient transaction, and merchants don't have to worry about their customer's credit. And when customers use a card with no annual fee, and pay each month's statement bal...Read more →
Who needs a fat wallet full of credit cards? That's been one of the mantras for many companies over the last few years, as card consolidators and digital wallets keep popping up on the scene. This blog has already looked at Coin and Apple Pay and over the next few weeks, ...Read more →
Diners Club is one of the oldest names in the credit card business, having offered the world's first multipurpose charge card in 1950. Nevertheless, it has not offered its card to new applicants in the United States over the last five years as the brand has changed owners...Read more →
Three of the most popular cash back reward credit cards have nearly the same terms. The Chase Freedom, Discover it, and Citi Dividend Platinum Select all feature 5% cash back for spending on featured retailers and categories of merchants that change each quarter. 1% cash ...Read more →
Credit card issuers love to tout the rewards and benefits offered by their cards. Some cards offer valuable points, miles, or cash back rewards, while others feature perks with specific retailers or travel providers. But there is a lesser known set of benefits that is not...Read more →
The recent string of data breaches at Target, Home Depot, and other stores has turned credit card security into a front page news story. While much of this coverage has left credit card users concerned, it has also increased their awareness of the next generation of credi...Read more →
Those who are not carrying a balance on their credit cards can think of them as financial instruments to be optimized. Just like investments, credit card users can hold a portfolio of credit cards that each serve a different purpose in order to maximize their returns.
...Read more →
The hit comedy and variety show "Saturday Night Live" turns 40 this year, and thanks to a licensing deal between MasterCard and Columbus, Ohio-based Comenity Bank, you can now own an SNL credit card that can earn exclusive rewards based on the show.
Cardholders earn on...Read more →
Jimmy John’s Restaurants, a popular chain of sandwich shops, became the latest retailer to announce that it had suffered a breach of its customer's credit card data. According to a statement released on September 24, 2014, "It appears that customers’ credit and debit card...Read more →
Last November we brought you the story of Coin, a revolutionary new credit card product that would allow users to cut down on the number of credit cards they had to carry around with them by consolidating them on this device. Coin announced its product with much fanfare, ...Read more →
Many corporations want to be number one, and that typically means being the largest or having the most. However, no company wants to be known for having the largest breach of credit card information. Yet Home Depot recently became known for just that, as it announced this...Read more →
Last week Apple announced the release of the iPhone 6, the iPhone 6S Plus and the Apple Watch. Since this isn't a mobile phone blog, we normally wouldn't be interested in that sort of release, but these three products use a new feature called Apple Pay, which allows iPhon...Read more →
When you're carrying a balance on a credit card, getting a low rate balance transfer offer--or even a zero percent offer--could be a blessing in the form of potentially hundreds of dollars saved, or it could be a curse in the form of unanticipated interest charges you nev...Read more →
For the eighth year in a row, American Express and Discover prove that they are tops in making sure their customers are satisfied. According to J.D. Power, a market research company known for its annual rankings of customer satisfaction, the two tied for the highest ranki...Read more →
Most Americans who have credit cards know that part of the privilege of being allowed to carry a credit card is that you agree to pay off the money you charge on it. Not doing so can get you into a world of trouble, including the potential for needing to declare bankruptc...Read more →
Although Amazon is ubiquitous with online shopping, the online retailer has decided to jump into the mobile card reader space to compete with Square and PayPal. It's recently launched Amazon Local Register, a card reader and mobile app geared toward small businesses.
M...Read more →
In June the restaurant chain P.F. Chang's experienced a data breach, which is just another notice of data hacking that's stacked on the pile along with Michael's, Neiman Marcus and Target, among others. In fact, "This Week in Data Breaches" could be a regular news feature...Read more →
The Millennial generation is graduating from college, entering the workforce and taking on the responsibilities of adulthood. But what is it like for this generation to have credit cards?
Data from Experian's State of Credit report shows that Millennials have fewer ba...Read more →
The recession and housing crisis of the last several years is still having an effect on millions of Americans, according to a new survey published by Urban Institute that found that over one-third of adults with credit files have a debt in collections. The areas of the co...Read more →
It's not quite like Paul Revere's ride through Massachusetts warning the Colonists the British were coming, but one can almost hear similar cries of "EMV chip cards are coming!" They may be coming, but what do American consumers think about this change? Are we ready for i...Read more →
Last month Visa rebranded and relauched its V.me eCommerce payment service. Now called Visa Checkout, the service still intends to simplify and make shopping online through any type of computing device as simple as it is to swipe a physical credit card at a store, while m...Read more →
Perks. Access. Special events. Many credit card companies have VIP cards that invoke exclusivity. The Visa Black Card is made of stainless steel, has a $495 annual fee and promises VIP treatment at hotels and airport lounges, luxury gifts and more. Not to be outdone, Amer...Read more →
This week, an antitrust trial between American Express and the U.S. Department of Justice began. While the trial concerns the processing fee merchants pay to the credit card company, the final decision could affect consumers' wallets.
The Justice Department and sevente...Read more →
Last week, the U.S. Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) announced they have settled the largest credit card discrimination in the federal government's history. GE Capital Retail Bank has agreed to pay a total of $225 million to ...Read more →
In an effort to help its customers find unnoticed or potentially unwanted charges, Capital One is testing a new type of fraud detection service called Second Look. This service looks at a cardholder's purchases and flags charges that can easily be overlooked, such as pote...Read more →
Sam's Club, the warehouse club division of Wal-Mart, has announced that it will introduce a new store credit card that will feature cash back rewards and EMV chip-enabled technology.
The announcement signals the end of Sam's Club's current credit card program, which is...Read more →
The news this year has been full of credit card breaches--hackers breaking into a company's databases to steal thousands or millions of people's credit card and personal information that's then used or sold in some way to enable theft and other criminal activity. Target, ...Read more →
On May 22, consumer advocates celebrated the fifth anniversary of the CARD Act, the 2009 law that put reforms in place to protect American consumers from abusive credit card practices. In cheering the success of this law, some advocates also noted the need for the Consume...Read more →
Soccer fans planning to go to Brazil to take in this year's World Cup had better be sure to take their Visas--not just the visa you may need to enter the country, but your Visa card. Visa is the exclusive global financial services sponsor for the FIFA World Cup, which mea...Read more →
A recent Gallup poll indicates that Americans are toning down their love affair with credit cards. Not only are we carrying less outstanding debt on the cards we have, more of us are also paying the full balance we owe every month. Furthermore, we are also carrying fewer ...Read more →
If you have bitcoins, the virtual peer-to-peer digital currency, you now have a way to use them to buy things, whether it's online or in person, thanks to bitcoin wallet provider Xapo's new bitcoin debit card.
Bitcoin is a digital currency that's been around since 2009...Read more →
This week Wells Fargo and American Express launched two new rewards credit cards designed to allow customers to earn rewards faster, enjoy special perks and have extra protection for shopping and travel.
"Last year, we announced our partnership with American Express as...Read more →
Earlier this month, Bank of America, N.A. and its credit card subsidiary FIA Card Services, N.A. got hit with millions in fines from the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) for unfair billing practices relate...Read more →
We do a lot of things with our smart phones, and one thing industry experts expected by now was that more people would be using their phones to pay for purchases. Some technological advances have helped this, but one major problem has been the fact that both the user and ...Read more →
For the fourth year in a row, Temkin Group has recognized USAA for delivering the best customer experience among credit card issuers. In the 2014 edition of its annual Temkin Experience Ratings, USAA bested 10 other credit card issuers and also scored high against other c...Read more →
This April, American Express will launch its new Amex EveryDay Credit Card, a new rewards credit card that gives cardholders a bonus for using it.
Unlike traditional rewards cards that give you points not just based on how much money you spend using the card, but it al...Read more →
Last summer I wrote about Barclaycard's new travel rewards card called Arrival. It's a MasterCard that lets you earn miles on purchases and apply them toward tickets on any airline. Extra perks of the card include a 10 percent mileage rebate, a subscription to TripIt Pro'...Read more →
Most American consumers have several credit cards in their wallets, but which ones do they actually use? Loyalty consulting firm Brand Keys' 18th Consumer Loyalty Engagement Index study shows that when it comes to having a favorite piece of plastic, Discover and American ...Read more →
Sometimes it's the non-credit card related parts of a credit card company that intrigue and inspire. In the last few years, the major credit cards have been seeking out new ways to reach their customers and provide them with unique experiences in an effort to promote thei...Read more →
In an effort to give its rewards cardholders more flexibility and options with their rewards points, MasterCard has partnered with Toronto-based Points International Ltd. Through the partnership, cardholders will have more ways to redeem, exchange and trade the points the...Read more →
In dealing with the aftermath of the breach on its computer systems, Target has announced that it plans to speed up its planned implementation of chip-enabled smart cards, also known as EMV cards.
Target's Chief Financial Officer John Mulligan announced the company's ...Read more →
As if the news of the Target credit card breach hasn't been enough, two other retailers -- Michael's craft stores and Neiman Marcus -- have also reported breaches in which consumer credit card data may have been stolen. On top of that, there's another credit card scam hap...Read more →
In its recently released annual report on college credit cards, the Consumer Financial Protection Bureau (CFPB) found a decline in college credit card agreements, yet the agency still sees a need for financial institutions to disclose their marketing agreements with colle...Read more →
January's usually a month where people do a little fiscal belt-tightening, as the fun spending mood of the holidays ceases, the bills roll in, and you resolve to save more money in the new year. Rewards cards can help you put back a couple of extra dollars, so now may be ...Read more →
The data breach that Target suffered during the 2013 holiday shopping season is apparently larger than first thought. The discount retailer had initially reported that the nearly three week-long malware attack affected 40 million credit and debit accounts. Now the discoun...Read more →
Not all middle class Americans are recovering equally from the Great Recession, finds the NAACP. The association commissioned a study that looked at how middle class African Americans are faring in the economic recovery and have made some interesting discoveries when it c...Read more →
Rewards cards that offer cash back, gifts, miles or other goods seem like a good deal, but they actually could end up costing you more, particularly if you carry a balance. The Massachusetts Office of Consumer Affairs and Business Regulation conducted a study last year th...Read more →
Everyone's opened their holiday presents, the wrapping paper's been thrown away and you start looking forward to a new year. It always seems that the mail, which was recently full of holiday wishes and good cheer, is now full of holiday bills.
If you didn't pay cash fo...Read more →
When you make decisions about your credit card choice, usage and payments, are you making your financial decisions based on knowledge or marketing? The Consumer Financial Protection Bureau (CFPB) recently published a study that believes biased marketing may be guiding con...Read more →
Target has confirmed that it experienced a data breach during the beginning of this year's holiday shopping season that could put a damper on some of its customers' financial information.
The breach started on November 27, just before Black Friday, the busiest shoppin...Read more →
American Express Membership Rewards participants who also use Amex's mobile app now have access to a new feature called Use Points for Charges. This option allows users to take the Membership points they earn for making purchases to now cash them in to pay for their regul...Read more →
The holidays are a time for giving, so it's only natural that you may want to spread a little holiday cheer with charities that help people in need. Credit card companies often have campaigns and programs that can make giving donations an easier process. Here are a few wa...Read more →
The holidays are upon us again, and for most of us this is a time of year for giving gifts and having celebrations with friends and family. Amid all the celebrations, we're usually pulling out our wallets to buy something. Whether it's buying the ingredients for a fantast...Read more →
You might not think twice about pulling a credit card out of your wallet to pay for something, but the concept about using some sort of card as a method of payment has been around for less than 100 years. We've come a long way from the first days of these cards, which sta...Read more →
If you've ever felt that your wallet is too fat, not because you've got a lot of cash but because you're carrying a lot of cards, now there's a new product to help you streamline your wallet. It's called Coin, a mobile app that comes with a device that looks and acts like...Read more →
Earlier this year, cancer research initiative Stand Up To Cancer (SU2C) gained a fundraising partner in MasterCard. Now MasterCard has upped its commitment to the organization, and a credit card issuer has joined in to raise money for cancer research.
Fifth Third Bank,...Read more →
The all important credit score, the number that determines your creditworthiness and is used to help determine how much of a loan you can get and how high your interest rates will be, used to be something you paid for. Now millions of credit card customers will be able to...Read more →
Huntington Bank, a regional bank located in Columbus, Ohio, has expanded its credit card offerings to include a consumer card called Voice. Huntington designed the card with its customers in mind and intends to give them a voice in how they want to set up their credit car...Read more →
With the popularity of sharing personal information on social media sites, privacy may not be a big issue to some, but as National Protect Your Identity Week (PYIW) reminds us, keeping some of your personal details is very important, because dealing with a stolen identity...Read more →
Just in time for the winter holiday shopping season, Discover has earned recognition for its cashback reward redemption technology, and it's offering a special cashback bonus for the holiday season.
InformationWeek magazine has ranked Discover 77th on its annual Inform...Read more →
MasterCard has recently announced two developments that it hopes will further the growth of its MasterPass digital wallet service, including more retailer acceptance and adding content purchasing.
North American online fashion retailer Beyond the Rack has joined Master...Read more →
Over 2.1 million credit card customers of Chase Bank USA, N.A. and JPMorgan Chase Bank, N.A. can expect to share in a $309 million refund that the Consumer Financial Protection Bureau (CFPB) ordered the financial institution to pay in conjunction with findings that the ba...Read more →
For decades, credit cards have had the same look: plastic, with an account number embossed on the front and a magnetic stripe on the back. The introduction of the EMV card started changing the appearance of credit cards, adding a computer chip to the front of the card tha...Read more →
Travelers now have even more ways to earn miles and travel rewards through their credit cards. PNC Bank and Bank of America have recently launched new travel rewards cards that offer miles and other travel perks to cardholders.
PNC Bank recently introduced two new Vis...Read more →
After conducting pilots in Austin, Texas and Salt Lake City, Utah, Isis will launch its mobile wallet product nationally this year.
Isis is a joint venture between AT&T Mobility, T-Mobile US Inc. and Verizon Wireless. The mobile wallet uses Near Field Communication (NF...Read more →
Adding to their long history together Wells Fargo and American Express have added to their partnership to allow Wells Fargo & Company to issue new credit cards on American Express' network.
Wells Fargo and American Express' relationship goes back to the founding of bot...Read more →
A lot of credit card holders want their cards to work for them, so they opt for one of the many rewards cards available on the market. Capital One has made it even more difficult to choose among rewards cards with the introduction of its new Quicksilver Card that tries to...Read more →
These days, many people interact with their credit card company online. Whether it's shopping for a new card or paying a monthly bill, consumers flock to the Internet to handle many of their credit card transactional needs.
That makes it important for credit card compa...Read more →
Americans are doing a better job of paying their credit card bills on time, and they're carrying less debt, says credit bureau TransUnion.
In the latest round of results of its quarterly analysis of U.S. consumers who actively use credit, TransUnion found that the nati...Read more →
If you've ever looked at your credit card statement and wondered why you're getting charged fees for things you didn't intend, such as an unwanted auto-renewal or unintended subscription, you may be the victim of "grey charges," a term to describe credit or debit card cha...Read more →
In July the United States federal government indicted five men in a worldwide hacking and data breach scheme--the largest of its kind in the country--that stol...Read more →
After giving consumers tools to help them deal with unfair credit card, credit reporting, mortgage, banking and private student loan practices, the Consumer Financial Protection Bureau (CFPB) is now tackling the issue of debt collection to protect consumers from [harmful ...Read more →
With the warm summer weather comes festival and summer vacation season. While it's great to get outdoors and explore, being at a crowded event or a tourist in an unfamiliar city can make you a target for criminals and identity thieves. If you take a few minutes to prepare...Read more →
After an initial launch last December, Barclaycard US has expanded the availability of its Arrival World MasterCard travel rewards credit card to all U.S. customers, giving cardholders a way to earn miles for travel--even when they're redeemed.
Barclaycard Arrival card...Read more →
Like the average American, I get a lot of credit card offers in the mail each week. Most of them I tear up without even opening, but the heavy silver envelope from American Express had me looking more closely.
"Dear Ms. Jaracz," the letter started. "Do you expect the b...Read more →
Imagine you're out walking around your town, and you try to cross the street, only to be hit by an oncoming car. The next thing you know, you wake up in the hospital with your leg in a cast and hooked up to a variety of machines, and you have no idea how you got there. Wh...Read more →
At the beginning of June, Diners Club International, a business unit of Discover Financial Services, signed an agreement with Barclaycard Global Payment Acceptance, which allows merchants using Barclaycard's payment acquiring services to accept Discover and Diners Club ca...Read more →
Busy lives with crazy schedules and countless activity can make time whiz by so quickly that you might forget to take care of life's little details, like paying bills. Missed payments can make a big hit on your wallet if you're not careful, as late payment fees and increa...Read more →
Recovering from addiction can be a long, difficult process that doesn't end when a person leaves rehab. Learning how to function as a sober member of society can also be difficult to manage, particularly when it comes to managing finances. Now a group of recovering addict...Read more →
Chase Card Services, a division of JPMorgan Chase & Co. has partnered with AARP to offer a new rewards credit card to the organization's members. With this card, cardholders will be able to earn cash back on purchases, but they won't have to pay an annual fee.
The AAR...Read more →
Stay-at-home spouses and partners have traditionally had a difficult time getting their own credit card accounts because card issuing banks grant credit based on the amount of income and assets a person has. With no documented income, someone such as a stay-at-home consum...Read more →
Identity theft. Credit card fraud. Hackers stealing thousands of credit card numbers. While the news headlines may be full of stories like these that seem to indicate the overwhelming presence of problems with the credit card industry, a new poll released this week indica...Read more →
In today's world where faster is better--particularly when you're at the cash register, waiting for someone to swipe their credit card, thumb through their wallet for cash, or even worse, write a check--a new start-up company has found a way to make credit card payments f...Read more →
While big business may get a bad rap, with people joking about the fat cats on Wall Street, many companies strive to do good with their business. Several players in the global financial services industry that deal with credit cards have recently been recognized by the Eth...Read more →
Survey: Customers Rank USAA and American Express as Best Cards for Customer Experience, Industry Merely "Okay"
Credit cards are pervasive in today's society, either as an integral part of a wallet, or a daily reminder in your mailbox when you receive direct mail marketing offers for new cards. Whether or not you like your credit card issuer sometimes doesn't seem to matter, given ...Read more →
Usually when you're paying for items at a store with your credit card, the cashier will ask to see your card and will visually confirm the signature. Although this practice is a way to verify a signature, it's still possible for an identity thief to fake your signature an...Read more →
Playing by the rules can sometimes seem boring, but Bank of America has found a new way to reward its customers who play by the rules when it comes to responsibly managing their credit. This reward comes from using the bank's new credit card that pays out up to $100 a yea...Read more →
Last year MasterCard launched a big push for the use of mobile wallets, a tool in which you can store your credit card information in a secure area of your cell phone or in an app that's on your cell phone to use for paying for goods at stores. At the recent Mobile World ...Read more →
Financial experts advise keeping tabs on your credit report to make sure it doesn't contain any errors because your current credit report is what provides lenders the information they need to make decisions about giving you loans or more credit. Inaccurate credit reports ...Read more →
With Valentine's Day just around the corner, love and romance or flowers and chocolates might be on the brain. Even though those items are important, sitting down and taking an unromantic look at your finances and credit can help you and your partner have a deeper relatio...Read more →
On February 5th, the Federal Bureau of Investigation arrested 18 people who allegedly were involved in a credit card scam that stole at least $200 million, an act that could end up costing everyday American consumers.
The scheme could be one of the largest credit card...Read more →
Many gas stations have a policy of charging more for using a credit card versus paying with cash. The price differences are clearly marked at the pump, and consumers have the right to choose whether or not they will pay a little extra for the convenience of using plastic....Read more →
While the song "Sixteen Tons" is about a coal miner, middle-income Americans over 50 could very well sing its lyric "another day older and deeper in debt" today. A recent survey from the AARP Public Policy Institute finds that older Americans have more credit card debt th...Read more →
Better money management, lower consumer confidence and worries about the debt ceiling have helped consumers become more savvy about their finances, finds the American Bankers Association in its most recent Consumer Credit Delinquency Bulletin.
The ABA's report looks a...Read more →
To start off 2013, Discover Financial Services has added a new credit card to its portfolio that it claims will change the credit card industry. The Discover it card offers rewards, Discover's vaunted customer service and a look like no other.
"We believe that consumer...Read more →
Last spring, Barclays introduced Barclaycard Ring, a simple credit card that's driven by crowdsourcing, a movement where its members make decisions about the card's policies. What have the masses accomplished this year with the Barclaycard Ring card?
One of the selling...Read more →
Carlson Rezidor Hotel Group and U.S. Bank have teamed up to launch the Club Carlson Premier Rewards Visa Signature Card, which allows cardholders to earn a free night stay at over 1,000 participating Carlson Rezidor hotels worldwide.
"The launch of this card is a sign...Read more →
Sometimes shopping for a deal can be a great thing. Say you're shopping for a new flat-screen TV, and you've spent hours doing research on different models and looking at sales flyers to get the best deal. You think you've got exactly the model you want at a great price, ...Read more →
While credit card issuers in the U.S. are busy introducing EMV technology to Americans, MasterCard has been working on the next generation of credit cards, and it's like nothing else you've seen.
MasterCard Worldwide has collaborated with Standard Chartered Bank Singap...Read more →
You've just ordered an impossibly complicated coffee drink at your local coffee shop, but the barista remembers exactly how you like it and doesn't raise an eyebrow over your needing a two-thirds caf, one-third decaf, mocha skim latte with part soy milk, part skim milk wi...Read more →
Credit trends could be returning to normal, says a recent analysis of consumer-credit data, as Americans are letting their credit card debt rise, and they aren't being as diligent about making payments on time.
According to [TransUnion's quarterly report of credit card...Read more →
One of the biggest developments in the U.S. credit card scene over the last year has been the introduction of the EMV chip card. This card, which is slowly coming on the market in the U.S., is prominent in many other areas of the world. But what is having a chip card like...Read more →
If you call yourself a football superfan, Sunday is your day. You probably watch all the games wearing your team jerseys and are managing at least one fantasy league. Even though you may show your dedication in the stadium and on the couch, you can also put your money whe...Read more →