Amex and Discover Top Credit Cards in Customer Satisfaction

Of all the credit card issuers in the United States, cardholders rated American Express and Discover as the top cards in customer satisfaction, according to a survey from J.D. Power. The survey measured credit cardholders satisfaction based on the following … Continue reading

GE Capital to Pay $225 Million for Discriminatory and Deceptive Credit Card Practices

The Consumer Financial Protection Bureau has cracked down on yet another credit card issuer. Today, the CFPB and the Justice Department ordered GE Capital Retail Bank, General Electric's retail credit card business, to pay $225 million in relief to consumers … Continue reading

What Is The Difference Between Chase Slate And Chase Freedom?

If you are searching for a credit card, you have two excellent choices with the Chase Freedom® and the Chase Slate® cards. Both cards have a number of perks you can use to your benefit, in addition to being great … Continue reading

Chase Launches New Business Rewards Credit Card

Frequent Marriott visitors may now have a new incentive to book their rooms. Chase Card Services launched a new Marriott Rewards Premier Visa Signature Business Credit Card, which gives small business owners a chance to earn accelerated Marriott Rewards points … Continue reading

Chase Bank Accused of Robo-Signing Credit Card Collections

Robo-signing exploded onto the news during the housing crisis when banks were accused of automatically signing default papers without properly reviewing them. Now, the robo-signing controversy is spilling over to another financial product--credit cards. A consumer, Ruth Moya of Miami, … Continue reading

Chase Changes Deposit Policies to Combat Money Laundering

Need to make a cash deposit into another person's Chase account? If so, you may have to get a little creative. Beginning in February, Chase put a stop to depositing cash into someone else's account. Now, only the account holder … Continue reading

New Report Shows Credit Card Companies with Most Complaints

The Consumer Financial Protection Bureau launched a complaint database in November, 2011, and it collected over 25,000 complaints through mid-September of 2013. A report released last week by the U.S. Public Interest Research Group summarized some of the findings from … Continue reading

Citi Replacing All Debit Cards Affected by Massive Target Breach

The fallout from the Target data breach continues. Citi will replace every debit card that consumers may have used at Target during the time of the cyber attacks, according to the New York Times. Citi will not replace any credit … Continue reading

How Banks Are Responding to Massive Target Breach

The security breach that took place in Target stores during the peak holiday shopping season hurt more than the giant retailer. It created substantial headaches for the banks and issuers behind the 40 million accounts with additional costs of fraud … Continue reading

Data Breach May Affect 465,000 Chase Cardholders

A recent hack of JPMorgan Chase's computer services may have exposed personal information for individuals who received their tax refunds, child support and unemployment benefits on prepaid cash cards this year. Chase oversees the debit card program for several New England … Continue reading

Credit Card Rewards Programs Under Review by CFPB

The Consumer Financial Protection Bureau is starting to review whether credit card rewards programs are misleading to credit card users. The result of the review may be new, strict rules about the transparency of rewards programs, including details about cash … Continue reading

Chase Freedom Credit Card Doubles Sign-Up Bonus

Chase Freedom is one of the better cash back credit cards on the market. It just got even better. On Monday, Chase announced that it is increasing its signup bonus from $100 to $200 for any new cardholder who spends … Continue reading

Save on Holiday Shopping Using Credit Card Rewards

The holidays are here, and soon consumers will be hitting the malls and emptying their wallets. Last year, consumers spent an average of $786 on holiday gifts. According to the National Retail Federation’s holiday spending survey, nearly 75% of the … 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

Credit Union Credit Cards Threaten Big Banks

A greater number of local credit unions across the United States are starting to issue credit cards to their members. Some of these have been more successful than others, but the growth of this phenomenon is creating competition for big … Continue reading

Quarterly Earnings Mixed for Credit Card Issuers

Third quarter earnings are mixed for banks and credit card issuers. Some, like American Express, beat estimates while others such as Chase suffered due to legal troubles. Charge-off rates continue to reach historic lows as cardholders pay down their credit card balances. … Continue reading

How Can I Build Credit without a Credit Card?

Building credit can be a tricky process because it takes credit to build credit. Most people struggle to build their credit history without initially using some "starter" credit cards to get the ball rolling. How can you build credit without … Continue reading

LowCards.com Weekly Credit Card Update–October 17, 2013

JP Morgan Chase Points to Legal Expenses in Quarterly Loss JP Morgan Chase reported a quarterly loss for the first time ever under CEO Jamie Dimon as the bank spent billions battling lawsuits and dealing with federal investigations into some … Continue reading

Chase Cancels Credit Card Insurance Plan

For years, Chase Bank has offered its cardholders a chance to get insurance on their credit card balances for an additional monthly fee, usually less than one 1% of their credit card balance. Users who opt for this insurance, known … Continue reading

Legal Costs Lead to JPMorgan Chase’s First Quarterly Loss Since 2004

JPMorgan Chase posted its first quarterly loss under CEO Jamie Dimon in the third quarter of 2013.The quarterly loss was $380 million compared to a profit of $5.71 billion a year ago. It was the first time the bank failed to report a … Continue reading

LowCards.com Weekly Credit Card Update–October 10, 2013

Americans Cut Back on Credit Cards Again Consumers cut back on using credit cards in August for a third consecutive month, a sign that consumers are still cautious about spending. Consumers increased their borrowing $13.6 billion in August to a … Continue reading

LowCards.com Weekly Credit Card Update–September 20, 2013

CFPB's Data Mining of Credit Card Data Challenged in Heated House Hearing Consumer Financial Protection Bureau officials are seeking to monitor four out of every five U.S. consumer credit card transactions this year--up to 42 billion transactions--through a controversial data-mining … Continue reading

JPMorgan Chase to Refund $309 Million for Illegal Credit Card Activity

The Consumer Financial Protection Bureau announced today that JPMorgan Chase must refund $309 million to credit card customers that were improperly billed for add-on products. The CFPB and the Office of the Comptroller of the Currency concluded that 2.1 million … Continue reading

American Express Again Tops in Customer Satisfaction

For the seventh year in a row, American Express was ranked the highest in customer satisfaction in the 2013 U.S. Credit Card Satisfaction Study from J.D. Power. AmEx has topped the charts since J.D. Power started the annual satisfaction survey, … Continue reading

What Is the Best Credit Card for Me?

A couple decades ago, there were only a few credit cards offered in the United States. Now, there are over 1,000 on the market. Issuers like Citi, Chase, Discover, Capital One, Barclay, Bank of America and American Express have saturated … Continue reading

LowCards.com Weekly Credit Card Update–August 23, 2013

Capital One Makes Commercial Lending Push with Beech Street Acquisition Capital One is acquiring Beech Street Capital as it aims to grow beyond consumer lending. Capital One, one of the country's largest credit card issuers, has expanded through acquisitions over the … Continue reading

Credit Card Delinquencies & Charge-Offs Continue to Fall

Consumers continue to pay their credit card bills on time, and issuers are having to write off fewer accounts. Both delinquencies and charge-off rates declined from April to May for five of the six top credit card issuers. Delinquency rates represent the … Continue reading

United Credit Card Eliminates Foreign Transaction Fee

For people who use the United MileagePlus Explorer card, we have exciting news. Beginning this month, Chase has decided to remove the foreign transaction fee on the card, making it even more travel-friendly. A foreign transaction fee is an additional … Continue reading

How To Properly Compare Low Interest Credit Cards

In today's credit card market, there are hundreds of cards that are offered to consumers. In fact, LowCards has the largest and most updated database of credit cards and interest rates in our complete credit card index. However, just because … Continue reading

LowCards.com Weekly Credit Card Update–April 5, 2013

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

Notable Growth in Credit Cards During 2012

The number of credit cards in the United States increased last year as did the number of credit card transactions, according to the latest Nilson Report. The number of general purpose credit cards in circulation grew to 526.6 million by … Continue reading

LowCards.com Weekly Credit Card Update–March 15, 2013

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

Chase Aims to Expand Business Through New Visa Agreement

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

Prepaid Debit Cards Becoming Popular Alternative

As debit cards continue to replace checks and cash as the most popular way to purchase goods and services, more consumers are turning to transactions not tied to traditional banking accounts. Birmingham-based Regions Financial Corp. jumped into the fray a … Continue reading

Banks Reach $8.5 Billion Foreclosure Settlement

On Monday, ten U.S. banks agreed to pay $8.5 billion to settle regulator's accusations that they didn't follow the correct foreclosure process and made errors in the loan process. This includes the robo-signers used to sign off on thousands of … Continue reading

Choosing the Best Credit Card for 2013

The start of a new year is typically when consumers take a close look at their finances, making resolutions on saving money and cutting expenses. It may be an annual tradition, but this year there is an urgency as lawmakers … Continue reading

LowCards.com Weekly Credit Card Update December 21

Consumer Group Warns of Card Surcharges Credit cardholders must be on the watch for new check-out fees that merchants will be able to impose starting in January under a class-action settlement with Visa and MasterCard. But merchant trade groups say … Continue reading

Another Advancement in Mobile Payments

After months of delays, mobile payment took another step forward this week with the launch of the Isis system in Salt Lake City and Austin. Isis allows consumers to make payments with their smartphone by waving it at a check-out … Continue reading

LowCards.com Weekly Credit Card Update October 19

Credit Cards Charge Up Healthy Margins Consumer confidence is up, and household debt is down. That's good news for retailers. It's also good for credit card processors Visa and MasterCard. Strong revenue is only part of the story. Leveraging profits … Continue reading

Credit Card Delinquencies Increase for Five Major Issuers

In September, delinquencies for five major credit card issuers increased from their near-historic lows. Bank of America, American Express, Chase, Discover and Capital One all showed slight increases from August to September in their delinquency rate. A delinquent account is … Continue reading

LowCards Weekly Credit Card Update October 5

U.S. Credit Card Lenders Shun Add-Ons as CFPB Cracks Down Chase, Bank of America and American Express are among credit card lenders retreating from a $2.4 billion market as regulators seek curbs on deceptive marketing of products including debt cancellation. Scrutiny … Continue reading

Do Cardholders Need Payment Protection & Credit Monitoring Services?

The Consumer Financial Protection Bureau is punishing credit card issuers that misled cardholders into buying payment protection and credit monitoring services. This week, the CFPB announced that Discover will pay $214 million in fines and penalties. In July, Capital One … Continue reading

Prepaid Cards Skyrocketing in Popularity

Thanks to regulations and legislation on credit cards, banks are turning renewed attention to an old source of revenue: prepaid cards. Prepaid cards were once the black sheep of the card family, charging high interest rates and fees to consumers … Continue reading

More Options for EMV Credit Cards

Americans are slowly getting more options for EMV chip credit cards for overseas travel. The EMV (stands for EuroPay, MasterCard and Visa) chip has replaced the magnetic stripe in most countries but the United States, and this has created problems for travelers … Continue reading

Chase Waives Certain Charges for Consumers Affected by Hurricane

Chase is helping its customers in Mississippi and Louisiana who are in the path of hurricane Isaac by waiving Chase fees charged from August 28, 2012 through August 31, 2012. Chase sent out an email to customers in those areas … Continue reading

More Issuers Adding Chip Technology to Credit Cards

There is good news for international travelers. Banks are adding chip technology, also known as EMV, to more international credit cards. Using the old magnetic strip credit card outside the United States has become somewhat of an ordeal for travelers. Many … Continue reading