LowCards.com Weekly Credit Card Update–October 10, 2014

Banks in U.S. Moving to Chip-Based Debit and Credit Cards In the coming year, banks in the United States are likely to replace debit or credit cards with versions that have tiny computer chips embedded in them, a move aimed … Continue reading

Credit Card Debt Falls for First Time Since February

Credit card debt fell slightly in August for the first time since February, dropping $208 million or an annual rate of 0.3%. These were the findings of the latest monthly Consumer Credit report from the Federal Reserve. Americans now have … Continue reading

LowCards.com Weekly Credit Card Update–October 3, 2014

Cyberattack Against JPMorgan Chase Affects 76 Million Households A cyberattack this summer on JPMorgan Chase compromised the accounts of 76 million households and seven million small businesses, a tally that dwarfs previous estimates by the bank and puts the intrusion … Continue reading

LowCards.com Weekly Credit Card Update–August 22, 2014

Visa Wants to Make it Even Harder for Thieves to Buy Gas with Your Credit Card Gas stations are among the easiest places for crooks to use stolen credit cards. Pumps are usually unattended, so all the thieves have to … Continue reading

LowCards.com Weekly Credit Card Update–August 1, 2014

A Third of Americans Delinquent on Debt More than a third of the country is in trouble when it comes to paying debts on time; 35% of Americans have debt in collections, according to a study out Tuesday from the … Continue reading

Late Payments on Credit Cards Show Significant Decline

Overall credit card debt has dropped substantially since the recession several years ago. Consumers are carrying less of a balance on their credit card accounts. Cardholders are slowly shifting from being "revolvers" to "transactors." As a result, one major change … Continue reading

CFPB Report Shows the Ugly Trap of Payday Loans

A report released today by the Consumer Financial Protection Bureau shows how payday loans trap borrowers in a cycle of debt. The report showed a shocking statistic: a majority of all payday loans are made to borrowers who renew their … Continue reading

LowCards.com Weekly Credit Card Update–January 10, 2014

Target: Up to 70 Million More Customers Were Hit by December Data Breach Target said Friday that the massive cyber attack it suffered during the height of the holiday shopping season may have affected an additional 70 million customers and … Continue reading

New Wells Fargo Credit Cards to Help to Customers Cut Debt

Wells Fargo is the fourth largest bank in the United States, but it has a relatively small credit card business under its umbrella. In an effort to change that, Wells Fargo has come up with an innovative credit card that … Continue reading

LowCards.com Weekly Credit Card Update–August 9, 2013

An $18 Million Lesson in Handling Credit Report Errors Julie Miller could not get the big credit bureau to remove a host of errors that it inserted into her credit report. So she tried suing and that worked. A jury in … Continue reading

CFPB Cracks Down on Debt Collectors

Today, the Consumer Financial Protection Bureau is intensifying its efforts to stop unlawful and abusive debt collection practices. The CFPB will begin notifying banks, payday lenders, finance companies and other lenders that they will be held accountable for unlawful conduct … Continue reading

CFPB Says Student Loan Restructuring Will Benefit Economy

The Consumer Financial Protection Bureau fears that the rising debt from student loans could begin to significantly affect the economy, and is calling for more flexible repayment plans for the millions of Americans struggling with private student loans. After studying … Continue reading

Student Loan Servicers May Be Regulated by CFPB

The Consumer Financial Protection Bureau has proposed a new rule that would allow it to supervise some nonbank student loan servicers and bring new regulation to a quickly expanding market. The new rule would let the CFPB access the whole process … Continue reading

LowCards.com Weekly Credit Card Update–March 8, 2013

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

Household Debt Increases in Fourth Quarter of 2012

Americans are slowly borrowing more to finance purchases like homes and cars. Household debt, which includes mortgages, credit cards, auto loans and student loans, rose 0.3 percent or $31 billion to $11.34 trillion in the fourth quarter of 2012, the … Continue reading

LowCards.com Weekly Credit Card Update—March 1, 2013

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

More Cardholders in UK Surviving with Credit Cards

A new survey in the United Kingdom shows more consumers there are struggling with their finances, resulting in a further reliance on credit cards to pay for daily essentials. The sixth annual Post Office Consumer Credit Report shows that 42 … Continue reading

LowCards.com Weekly Credit Card Update December 28

Websites Vary Prices, Deals Based on User Information A Wall Street Journal investigation found that the Staples website displays different prices to people after estimating their locations and appeared to consider the person's distance from a rival brick-and-mortar store, such … Continue reading