Visa recently announced new efforts to issue credit cards in Chinese yuan. Visa would be the second credit card company to have cards in this currency, with Citigroup introducing a similar service last month. China has reformed its foreign exchange … Continue reading
The Long Shadow of Bad Credit in Job Search Over the last several decades, credit reporting bureaus have been selling their services to a much wider range of buyers than just banks. Nearly half of employers use credit checks when … Continue reading
Credit Card Companies Battle in China The Ms. Magic credit card from China Citic Bank is dotted with crystals and offers free beauty treatments and health insurance. Huaxia Bank's Pretty Lady card entices women with triple points for cosmetic purchases … Continue reading
If you are trying to consolidate the debt on your credit cards, you may consider transferring the balance from one card to another. Some people may not realize this transfer usually comes with a price: a balance transfer fee. This … Continue reading
College students who use Chegg to sell their textbooks now have a new way to receive their money. American Express has announced a partnership with Chegg that will allow these students to deposit buyback money to a Serve prepaid card. … Continue reading
U.S. Amasses Big Data on 10 Million People, Banks Protest The CFPB is working towards monitoring how millions of Americans use credit cards, take out mortgages, and overdraw their checking accounts, but bankers aren't happy about it. The CFPB wants access … Continue reading
Josip Gašpar was once a successful soccer star with a thriving career. After he retired as a player in Croatia, he took on the role of a coach for Prečko Zagreb. This month though, everything changed. Josip was fired from … Continue reading
A Bitcoin is a digital currency that provides instant payment anywhere in the world. It has gained wide popularity in the last few years, and more small businesses are now accepting Bitcoins for their online transactions. Some merchants believe they … Continue reading
Running a search for "how to check my credit score for free" may lead you to a lot of websites that are actually just companies trying to sell their services. There are ways to check your credit score for free, … Continue reading
ATM Fees on the Rise Using an ATM outside of your bank's network is becoming more expensive. The average fee a bank charged a non-customer for using their ATM in 2012 was $2.10, a 20 percent increase from the $1.75 … Continue reading
Research company TNS issues an annual report on the top banking and investment companies in America. Winners are chosen based on their ability to attract and retain new customers for the given year. The 2013 TNS Choice Awards winners by … Continue reading
Credit card issuers are still finding new ways to attract affluent cardholders. Visa is offering a six-month free trial with CLEAR, a biometric identity service used in airport security. The relationship will allow Visa Signature cardholders to move to the head of the … Continue reading
Analysts See Steady Credit Card Use, Despite Fears of Consumer Cutbacks Analysts expect upcoming earnings from American Express, Visa and other large credit card companies to show that shoppers continued to swipe their credit cards at a healthy clip in the … Continue reading
Analysts believe Apple will be launching an e-wallet in the next few years, with some rumors suggesting it is less than a year away from arrival. This program will allow users to save credit card information into their phone accounts … Continue reading
In the modern world, speed is everything. We drive fast cars on fast highways while our fast phones access a fast internet connection. There is no time to waste. Many people apply this same theory to their credit scores, seeking … Continue reading
18 States Considering Ban on Credit Card Surcharges Eighteen states are now considering legislation that would bar retailers from imposing surcharges when consumers use their credit cards. Ten states have already imposed bans on credit card surcharges, which limited the potential impact of … Continue reading
Tired of the time it takes to swipe your card at the pump? Z Energy wants to eliminate that problem through a new tap and pay system at their fueling stations. Rather than swiping your credit card like normal, you … Continue reading
No one is immune to credit card fraud--not even the Chief Justice of the Supreme Court. John Roberts was seen paying for coffee in cash at a local Starbucks because he had to cancel his credit cards. A member of … Continue reading
What You Need to Know About Credit Card Processing Here is a series of posts about a search for an honest and affordable processor of credit card transactions. My own search began when I was tipped off that I was … Continue reading
Up until now, PayPal and similar electronic payment processors have been able to avoid excessive fees from credit card companies, with those companies assuming all the costs for transactions in their systems. MasterCard has finally grown tired of this, and … Continue reading
Lawmakers Target Unfair Overdraft Charges Democrats have introduced a bill that would limit the cost of overdraft fees and prohibit practices that increase the likelihood customers will overdraw their accounts. The Overdraft Protection Act would prohibit financial institutions from charging more … Continue reading
A bill was introduced in the House of Representatives on Tuesday which would put further limitations on overdraft fees on checking accounts. Democrat Carolyn Maloney introduced the "Overdraft Protection Act" bill that would require overdraft fees be "reasonable and proportional" to … Continue reading
People often assume that it takes bad credit to get declined for a credit card, but that is not always the case. A complete lack of credit may be just as detrimental to your chances, depending on what card you … Continue reading
Medical credit cards give patients a chance to charge their medical bills on a credit card so they can pay them off at a later time. These cards offer high limits and flexible payment options that specifically suit healthcare charges. … Continue reading
Prepaid Cards May Lack Protections of Checking Accounts Reloadable prepaid cards don't have to carry federal deposit insurance, as checking accounts do, says a new report from a project of the Pew Charitable Trusts. Cardholders can use them for direct … Continue reading
Credit reporting agencies TransUnion and Equifax have confirmed that hackers have gained unauthorized access to users' personal information, including some of the leading political and entertainment figures in America. The hackers obtained the Social Security numbers, credit scores and birthdates … Continue reading
Young Adults Retreat From Piling Up Debt Total debt among young adults dropped in the last decade to the lowest level in 15 years. A typical young U.S. household, defined as one led by someone under age 35, had $15,000 … Continue reading
No matter how you calculate it, the CEO of Capital One is well paid. According to the company, Capital One paid Chief Executive Officer Richard Fairbank approximately $17.5 million in compensation for 2012. The payment package included $10.9 million in … Continue reading
Several million consumers have missed the deadline for making the switch to paperless Social Security benefits, but the government will not cut them off from receiving their benefits. March 1 marked the deadline for Social Security and other Federal benefit … Continue reading
Visa Ends Ban on Retailer Discounts for Specific Cards Visa is giving its merchants more flexibility in offering discounts to their customers, and reversing restrictions that prevented retail partners from offering special deals to customers that paid with a specific bank's … Continue reading
J.P. Morgan Chase and Visa are entering into a partnership to develop a processing service where selected retailers give special discounts to Chase Visa cardholders that are applied at the time of purchase. The ten-year partnership, called Chase Merchant Services, … Continue reading
Visa and MasterCard both made significant moves in the digital payment markets this week. MasterCard introduced MasterPass, a digital service that allows customers to purchase items from wherever they are and with any mobile device. Consumers can use any payment … Continue reading
FTC: Cramming Fraud Targets Consumers’ Credit Cards The FTC has added a new alert about a fraud called cramming where small charges of $10, $20, or $30 are secretly inserted onto your credit card bill. These small charges add up … Continue reading
Many consumers do not fully understand the concept of a digital wallets, and a majority are concerned about their security. These were some of the findings of comScore's study, Digital Wallet Road Map 2013, which measured the consumer awareness, perceptions and … Continue reading
N.J. Calls Off Credit Card Pitches to Students at Public Colleges Companies that issue credit cards can no longer market them to students at New Jersey public colleges under a law Gov. Christie signed Thursday. The new law prohibits public … Continue reading
The Vatican is restoring credit card payments and ATM transactions in its museums after they were suspended over concerns that the city-state was not taking enough measures to insure against money laundering. Card service has been blocked for the last … Continue reading
California Supreme Court Makes it Easier for Apple, Online Businesses to Collect Personal Data A divided California Supreme Court ruled that online merchants such as Apple and Ticketmaster can require consumers to furnish personal information to make credit card purchases. … Continue reading
U.S. consumers increased their debt in December by a seasonally adjusted 6.3 percent or $14.6 billion, according to the monthly G19 report from the Federal Reserve. This was the fifth consecutive monthly increase in consumer credit. In November, consumer borrowing … Continue reading
Tablet sales are skyrocketing--200 million have been shipped throughout the world in the past three years, and forecasts show that one billion will be shipped in the next five years. This could have a dramatic effect on how consumers shop … Continue reading
Southwest Airlines announced it will offer double points on its Rapid Rewards program for flights booked and flown between today and May 15, 2013. The promotion requires customers to register for the promotion online at Southwest.com. In its Nationwide Double … Continue reading
Secrets of Mobile Success: Cost-Cutting Banks Seek Smartphone Customers Strapped for new revenue and pressed into waves of cost cuts, the country's largest banks are trying to keep the customers they have, woo the ones they don't and do it … Continue reading
When shopping for a credit card, consumers sometimes look at the wrong metrics to compare different cards. We get pursuaded by a catchy commercial, a cool design or other less important factors. We can end up paying much higher interest penalties over the life of the … Continue reading
One in three online users in China have been affected by some type of Internet crime, according to a new report released this week by the People's Public Security University of China. An average of 700,000 online users fall victim to … Continue reading
With Cordray Nomination, Obama Renews Fight With GOP President Obama renominated Richard Cordray for head of the Consumer Financial Protection Bureau on Thursday. Cordray is currently serving in the post thanks to a recess appointment. A year and a half ago, … Continue reading
President Obama today re-nominated Richard Cordray as director of the Consumer Financial Protection Bureau. This will be Cordray's first permanent term. He was selected for the post as a recess appointment in January 2012, which did not require Senate confirmation. … Continue reading
Consumers will be able to pay for their taxi rides in Washington D.C. with a credit card by March 30. The D.C. Taxicab Commission is requiring the city's 6,500 cabs to install credit card swipers or utilize a digital dispatch … Continue reading
Banks Bury Fees in the Fine Print Pew's annual Safe Checking study has uncovered a number of items and fees that most consumers wouldn't have a clue about until they got hit with them. From mandatory arbitration clauses that waive jury … Continue reading
Credit card issuers are trying hard to find new ways to generate revenue. After all, credit cards delinquencies are near historic lows, cardholders are paying down their debt, and add-ons like insurance and payment protection have withered under close scrutiny. … Continue reading
JPMorgan Chase received two enforcement actions from federal regulators on Monday. One was for failures in risk management that led to a multi-billion dollar trading loss. The loss on a derivatives trade was first discovered in May and could be … Continue reading
Why More Americans Will Fall Behind on Their Credit Card Bills This Year A quarterly report issued last month by the Federal Reserve Bank of New York said that, although our total debt dropped by $74 billion in the third … Continue reading
