About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.

LowCards.com Weekly Credit Card Update–February 12, 2016

The IRS Says Identity Thieves Hacked Its Systems Again Identity thieves attempted to breach computer systems at the Internal Revenue Service to file fraudulent tax refunds. The criminals were especially after E-file PINs, which are used by some individuals to … Continue reading

Couples Spending Less This Year on Valentine’s Day

While 8 in 10 couples plan to celebrate Valentine's Day on February 14, average spending is down 28%, according to a study by American Express. Americans expect to spend an average of $212 on the holiday, down from $296 in 2015 … Continue reading

New Partnership Makes Cross-Border Money Transfers Easier

Western Union and Viber have partnered to make it faster and easier to send friends and family money virtually anywhere in the world using the Viber app. The collaboration between Western Union's Connect platform and the Viber app will provide: The … Continue reading

U.S. Bank Offers Business Owners Access to MasterCard’s Business Network

Late last week, U.S. Bank announced it would be the first bank in the county to give its small business customers access to MasterCard's Business Network. The Network is a customized, consolidated website that provides special offers, advice and tools to … Continue reading

LowCards.com Weekly Credit Card Update–February 5, 2016

Don't Feel Bad, Millions Hide Bank Accounts From Their Spouses Too One in twenty people in the U.S. admit to having started secret bank accounts or credit cards without their partner's knowledge. Multiply that by the number of American adults, … Continue reading

Consumers Concerned about Identity Theft during Tax Season

For some consumers, tax season is a joyous occasion where they find out just how much money they're getting back as a tax refund. But this joy is now tempered, according to a new survey from Experian. Approximately 42% of … Continue reading

Lack of Financial Literacy Holding Back Millennials

Inadequate financial knowledge has put many Millennials in dire financial circumstances, according to a survey conducted by PricewaterhouseCoopers (PwC) and George Washington University. In fact, when given a test about complicated issues, such as bond concepts, inflation and risk diversification, … Continue reading

PayPal Gains Record Number of New Users in Fourth Quarter

PayPal gained a staggering 6.6 million accounts in the fourth quarter of 2015, a dramatic increase from the quarterly average of four million new accounts. The company says a big reason for its record-setting numbers is due to the shift … Continue reading

Bank of America Offers New Features for Mobile App

Bank of America added new features to its mobile app in January, including the option to lock and unlock debit and credit cards directly from your phone. Customers can place a temporary lock on their accounts to prevent new card … Continue reading

LowCards.com Weekly Credit Card Update–January 29, 2016

Rogue App Stores Threaten Mobile Banking Security So-called rogue app stores, once a fringe element, are becoming a serious concern for banks, as subtly altered versions of popular apps are appearing more often on smartphones. These rogue apps, which are … Continue reading

Study Shows Top Credit Cards for Consumer Identity Safety

Javelin studied the nation's top 20 credit card issuers to determine the leaders in consumer identity safety. Those topping the 2016 list are: American Express, Bank of America, Capital One, Chase, Citibank, PNC, SunTrust, USAA and Wells Fargo. To assess … Continue reading

LendUp Raises $150 Million for Loans to Financially Underserved

LendUp announced last week that it had raised $150 million in a combination of Series B round financing and an expanded credit facility. The San Francisco-based company opened in 2012 to provide safe, transparent credit products, online or through mobile … Continue reading

Young Adults More Concerned About Card Fraud Than Online Privacy

Young adults, born afterafter 1996 and known as iGen or Gen Z, are less concerned than Millennials about their privacy when it comes to mobile payment apps and social media. But they are more concerned about protecting their identity while … Continue reading

LowCards.com Weekly Credit Card Update–January 22, 2016

Stolen Uber Accounts Worth More than Stolen Credit Cards Cybercriminals don't care that much about your credit card number anymore. Uber, PayPal and even Netflix accounts have become much more valuable to criminals, as evidenced by the price these stolen … Continue reading

US Bank Launches Sweepstakes for Downloading Mobile App

Now through January 31, 2016, US Bank is running a "Happy New You" Sweepstakes for customers who download the company's Your Community app. With more than 100 prizes available valued up to $10,000, US Bank is offering a free daily … Continue reading

Canadian Bank, Desjardins, to Issue MasterCard Credit Cards

Beginning today, MasterCard will be the only payment network in Canada that is offered by all major financial institutions. Desjardins, which previously issued only Visa cards, has announced its new Desjardins Cash Back MasterCard will have no annual fee and offer 1% cash … Continue reading

Making Wearables More Secure

WISeKey and Kaspersky Lab have partnered to develop technology that will make mobile transactions safer on wearables. Smart watches, fitness trackers and payment wristbands are expected to account for one in five mobile transactions by 2020, which represents $500 billion a … Continue reading

LowCards.com Weekly Credit Card Update–January 15, 2016

Wearable Technology Will Be Used by Half of Consumers for Mobile Payments Research firm, Gartner Inc., has released a recent prediction that wearable technology will play a tremendously larger role in mobile payments over the next few years, saying that … Continue reading

Chase Offers Exclusive Lounges to Cardmembers during Super Bowl Week

To give fans something special for Super Bowl 50, Chase is treating its United Mileage Cardmembers to two VIP lounges in San Francisco. The Chase United VIP Lounges will be open from February 4 to February 7. Cardholders can bring up to … Continue reading

320,000 Customer Passwords Stolen from Time Warner

Last week, Time Warner announced that the email addresses and passwords of nearly 320,000 subscribers may have been stolen. The FBI notified Time Warner of the data theft, and the company does not yet know if any other information has been compromised. The … Continue reading

Court Dismisses Class Action Suit over Michaels Data Breach

A federal court has dismissed a class-action lawsuit stemming from a data breach that took place at Michaels in 2013 and 2014. The case sought damages for customers who were at risk of fraudulent card activity after the breach. But District … Continue reading

LowCards.com Weekly Credit Card Update–January 8, 2016

Coin and MasterCard Want to Make Everything You Wear a Payment Device Coin has primarily been known for making one of the first "smart" credit cards that can switch between multiple cards. That hasn't worked out so well, but it … Continue reading

Synchrony and Polaris Expand Financing for Powersports Vehicles

Synchrony and Polaris are making it easier for consumers to finance on-and off-road vehicles and snowmobiles. This week, they announced a multi-year renewal and expansion of their program to provide financing for powersports products. Polaris manufactures off-road vehicles, including the Polaris … Continue reading

Five Insights about Mobile Shopping

Retale surveyed 3,000 active app users to see how they felt about mobile shopping technologies such as visit tracking, iBeacon, in-store push notifications, Near Field Communications (NFC) and mobile payments. The findings revealed most consumers do not want to feel … Continue reading

Fraudulent Holiday Returns Could Cost Retailers $2.2 Billion

Now that the holiday shopping season is over, retailers must face a new battle--return fraud. The National Retail Federation estimates that 3.5% of retail returns after this year's holidays will be fraudulent, up from 3% last year. This could cost … Continue reading

LowCards.com Weekly Credit Card Update–December 31, 2015

There are Officially More People Doing Their Weekly Banking via Mobile Phones Than Branches Mobile banking remains a technology in its infancy, but according to Javelin Strategy & Research, it has already eclipsed physical branches in terms of the percentage … Continue reading

Companies Partner to Expand Cashless Tips and Donations

Last week, KORE and DipJar announced they were partnering to make it easier for consumers to leave a cashless tip or make a charitable donation. DipJar will be joining the KORE network so it can securely and reliably process wireless gratuity … Continue reading

Phishing Scams Increased in 2015

According to the APWG's Phishing Activity Trends Report, the number of phishing attacks increased over the first three quarters of 2015. Internet Service Providers (ISPs) are the most-targeted industry, while the payment and financial services sectors followed closely behind. ISPs are attractive … Continue reading

Apple Pay Usage on the Rise

According to a PYMNTS and InfoScout report, many Apple customers like the idea of using Apple Pay, but adoption has been slow, in part because consumers are unaware which stores offer it as a checkout option. A new app called PayFinders may have a solution … Continue reading

LowCards.com Weekly Credit Card Update–December 23, 2015

How Apple's Trojan Horse Will Eat the Credit Card Industry Apple Pay was launched last year, with lots of fanfare and support by the credit card industry. Partnering with the banks that issue credit cards overcame the resistance that early … Continue reading

CFPB Cracks Down on CarHop’s Inaccurate Credit Reporting

The Consumer Financial Protection Bureau recently reached a settlement with CarHop and its financing company, Universal Acceptance Corporation, for $6.4 million for inaccurate credit reporting allegations. The CFPB alleged CarHop and UAC failed to provide positive information to credit bureaus … Continue reading

Most Americans “Deal-aying” Holiday Shopping

73% of holiday shoppers are putting off shopping until the last minute, according to the American Express Spending & Saving Tracker. Many (44%) are doing so because they are waiting for the best deals. Other reasons for last-minute shopping include trying to … Continue reading

LowCards.com Weekly Credit Card Update–December 18, 2015

How the Fed's Interest Rate Hike Could Hit Your Wallet The Federal Reserve increased interest rates Wednesday afternoon for the first time in nearly a decade. As expected, the Fed announced that it would increase its benchmark rate by one … Continue reading

Data Vulnerabilities Found on the Back End of Mobile Apps

A new report shows improper coding practices for mobile applications could pose a huge security threat for sensitive personal information, including full names, passwords, financial transactions and health records. This data should be protected by back-end protocol that is not currently … Continue reading

Boku Brings Carrier Billing to the Windows Store

Boku recently announced an agreement with Microsoft Corp that will allow Windows 10 users to pay for apps, games and music on the Windows Store using their mobile carrier. Consumers need only add their mobile operator account as a payment option. This … Continue reading

Credit Card Debt Reaching “Unsustainable” Levels

According to a new report, America may be reaching an "unsustainable" level of credit card debt in the coming years. The report predicts a net increase of $68.5 billion in credit card debt from 2014 to 2015, despite promising payoff … Continue reading

LowCards.com Weekly Credit Card Update–December 11, 2015

Costco Earnings Hurt by Credit Card Switch Costco's breakup with American Express is exposing a behind-the-scenes revenue source for retailers that promote co-branded cards: finders fees. After 16 years of exclusive relationship with American Express, Costco decided earlier this year … Continue reading

Data Security Act of 2015 Advances in House Committee

On Tuesday, the House Financial Services Committee voted in favor of the Data Security Act of 2015 (HR 2205) by an overwhelming 46-9 vote. The Act is designed to heighten information security programs throughout the country and ensure transparent reporting … Continue reading

Cyber Crime Underground Runs Like Regular Business

The North American cybercriminal underground is not hidden or exclusive, as it is in other countries, according to Trend Micro Incorporated's report, “North American Underground: The Glass Tank.” While cybercriminals in other parts of the world operate in secrecy, North American cybercrime … Continue reading

RushCard Denied Request to Delay Prepaid Card Investigation

Prepaid card issuer RushCard has been under fire for over a month due to an outage of their network in mid-October. After heavy scrutiny from the Consumer Financial Protection Bureau, RushCard's parent company, UniRush, submitted a request to delay their … Continue reading

Technical Glitches Disrupt Major Banks on Friday

Technical glitches caused significant issues for cardholders at Wells Fargo, USAA, PNC Bank, and SunTrust on Friday, leaving customers unable to access their funds for a portion of the day. While each bank experienced a slightly different issue, all of … Continue reading

LowCards.com Weekly Credit Card Update–December 4, 2015

As Subprime Credit Cards Grow, So Do Fees There's a growing subprime threat--and it fits in your billfold. The number of subprime credit cards in circulation--those with the highest interest rates--has exploded over the last five years to where in … Continue reading

Seven Naughty And Nice Holiday Spending Tips

Have you been naughty or nice this holiday season with your credit card spending? If you haven't been keeping track, you'll most certainly find out when your credit card statements come in January. Here are seven naughty holiday pitfalls and the nicest … Continue reading

Mobile Money Platforms Bring Financial Inclusion to the Poor

Mobile devices may finally enable the world's poor to reach financial inclusion, according to Juniper Research's recent report, Mobile Financial Services: Developing Markets 2015-2020. The report estimates that 283 million people will be using these services by 2020. For the first time, … Continue reading

Large Amount of Banking Will Be Done on Wearables by 2020

Mobile banking has grown tremendously in the past few years, and is projected to reach one billion users by the end of this year, according to new data from Juniper Research. By the end of 2020, that number could reach … Continue reading

LowCards.com Weekly Credit Card Update–November 25, 2015

18 Most Popular Things Fraudsters Buy with Your Credit Card When you're scanning your credit card statement this holiday season, there are certain types of purchases you might want to keep an eye out for. In a sampling of nearly … Continue reading

Best Credit Cards for Holiday Shopping

The holiday season brings out the shopaholic in all of us as we buy the gifts for loved ones and friends. To make the most of the money you spend, make sure you maximize your credit card rewards program. Here … Continue reading

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