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

Best Strategies For Paying Off Holiday Credit Card Debt

According to the most recent Gallup poll, about half of all American credit card users will carry a balance on at least one of their credit cards at some point in the year. For many people, the holiday season is … Continue reading

Facebook Shows How Millennials Dislike Debt, Avoid Credit Cards

A new study from Facebook IQ shows just how much Millennials despise debt. The assessment revealed that 43% of Millennials say paying down debt is their top financial priority, while 38% of Millennials say the same about saving for the … 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

Consumers Stressed by Holiday Debt

Each year, many Americans rack up additional credit card debt over the holidays. A new survey by Experian shows that 60% of Americans admit holiday shopping puts a strain on their finances, and 52% are stressed about finances during the holidays. … Continue reading

New Year’s Resolutions Will Focus on Health Before Finances

Most Americans will put wellness above all other New Year's resolutions, according to Allianz Life Insurance Company's 7th Annual Survey. Almost half of the respondents (44%) resolve to focus on health and wellness in 2016. Other resolutions will include financial stability (29%), career/employment … 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

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

Reducing Credit Card Debt in 2016

Christmas shopping will soon reach a frenzied pace, and millions of consumers will buy things they probably cannot afford. Many of us will enter January with credit card debt. Issuers are adding to the dilemma. Mailboxes have been filled with … Continue reading

LowCards.com Weekly Credit Card Update–November 13, 2015

Apple's Tim Cook Says Cash Will be Dead for the Next Generation of Kids Apple CEO Tim Cook is making another bold prediction about money. Back in January, he forecasted that 2015 would be the year of Apple Pay (a … Continue reading

JPMorgan Settles Credit Card Abuse Case for $100 Million

Last week, JPMorgan Chase agreed to pay $100 million as restitution for allegedly using illegal methods to collect payments from credit card customers. The allegations against the company said Chase filed more than 125,000 collection lawsuits against cardholders by illegally … Continue reading

Top 5 Credit Card Budgeting Tips

When you ask people about how they use their credit cards, you are liable to get a lot of different answers. In many cases, cardholders will turn a bit red and admit that they have trouble managing their accounts and … Continue reading

CFPB Fines Fifth Third Bank for Illegal Credit Card Practices

Yesterday, Fifth Third Bank became the 11th credit card issuer to be slapped with major fines by the Consumer Financial Protection Bureau for illegal practices in the marketing or administration of credit card add-on products and services. Fifth Third Bank will … Continue reading

Customer Spending Habits Differ by Credit Card Network

The way you spend money may have something to do with the type of credit card you carry. A new study from Morgan Stanley shows how credit card spending by Americans changes by network. American Express cardholders spend more money … Continue reading

Low Interest vs. Cash Back Credit Cards

Which credit card is best? That is the million dollar question, but there is no one correct answer. The right credit card will be the one that best meets your needs. Among the top credit cards offered are those with low … Continue reading

LowCards.com Weekly Credit Card Update–September 17, 2015

Bank of America Reveals Details of Biometric Smartphone App Bank of America has launched a mobile banking app which uses fingerprint and Touch ID sign-in. The bank says its new fingerprint and Touch ID sign-in capabilities provide eligible Android, iPhone … Continue reading

Credit Card Debt Approaches Pre-Recession High

It has been several years since the United States went into a recession, but it appears Americans are slipping back into their old ways. According to new research, the average household credit card balance in America will reach $7,813 by the … Continue reading

The Metro Areas with the Worst Credit Card Debt

According to a recent survey, cardholders from some major cities in Texas take longer to pay off credit card debt than any other metro areas in the United States. The Lone Star State had three of the five worst areas … Continue reading

Are Balance Transfers Worth It?

Many consumers are flooded with direct mail offers from credit card companies, where issuers dangle 0% interest rates for a substantial number of months if consumers simply transfer the balance from their existing card. These "balance transfer" offers are extremely … Continue reading

Scott Walker Struggles with Credit Card Debt

Presidential candidate and Governor Scott Walker may be like a lot of other Americans who struggle with debt. According to his financial disclosure form released Monday, Walker has a credit card from Barclays with an incredibly high interest rate of … Continue reading

Citi Simplicity vs. Citi Diamond Preferred

Just because you have credit card debt, it doesn't mean you will be treated right by your credit card issuer. Citi has two cards with outstanding offers for interest-free financing on new purchases and balance transfers--the Citi Simplicity and the … Continue reading

Citibank to Refund $700 Million Over Illegal Credit Card Practices

Today, the Consumer Financial Protection Bureau has ordered Citibank to refund $700 million to 8.8 million customers for illegal credit card practices. The CFPB said Citibank engaged in deceptive marketing and unfair billing of credit card add-on products from 2003 … Continue reading

Do Balance Transfers Earn Points Or Miles?

If you are carrying a balance on your credit card, your highest priority should be to reduce your interest costs and pay off your debt. But while you are doing so, it could be nice to earn rewards from completing … Continue reading

LowCards.com Weekly Credit Card Update–July 10, 2015

Meet AmEx's PayPal Competitor, Express Checkout As the war to own the digital wallet continues, American Express is joining the battle with Express Checkout, a new way to pay using your AmEx card online. AmEx Express Checkout is similar to … Continue reading

JP Morgan Chase to Pay Millions to Settle Credit Card Debt Probes

JP Morgan Chase will have to pay back $50 million to consumers and another $166 million to settle probes by both federal and state authorities for selling bad credit card debt and illegally robo-signing documents, the CFPB announced today. The … Continue reading

35% of Adults Bring Credit Card Debt into Relationships

Over one-third (35%) of adults bring credit card debt into new relationships, more than any other form of financial debt, according to a new survey from NerdWallet. Men were more likely to bring credit card debt into the relationship than … Continue reading

More Consumers Using Credit Cards to Finance Big Purchases

Americans are increasingly using their credit cards rather than tapping home-equity lines of credit to pay debts or finance a big purchase. According to new research from Sanford C. Bernstein & Co., more consumers are now utilizing their credit cards … Continue reading

How Is My Credit Card Limit Determined?

Credit card limits are determined by a variety of factors. Credit card companies are not going to put themselves in a position where they are likely to lose money. Every decision the company makes is based on a customer's potential … Continue reading

LowCards.com Weekly Credit Card Update–May 8, 2015

Does Credit Card Debt Lead to Depression? Credit cards can carry more than high interest rates--they actually might increase your chances of depression. It's common sense that high levels of debt can stress you out. Now researchers have found a … Continue reading

Credit Card Debt Jumps in March

Consumers are borrowing once again. The latest Consumer Credit report from the Federal Reserve showed that consumer debt grew at an annual rate of 7.4% in March, which is the largest increase in 11 months. Total outstanding debt, not including … Continue reading

Credit Card Debt Linked to Depression

A new research study shows a distinct link between credit card debt and depression. The study from the University of Wisconsin-Madison assessed the impact different types of debt have on depressive symptoms, and how those symptoms affected different sectors of the … Continue reading

LowCards.com Weekly Credit Card Update–May 1, 2015

Scott Walker Is Just Like You! In Debt Scott Walker has preached fiscal responsibility from the onset of his political career. But will his credit card debt undermine his message? Scott Walker owes Sears up to $50,000. According to his … Continue reading

LowCards.com Weekly Credit Card Update–April 10, 2015

Walmart Exec: New Credit Card Design Won't Solve Fraud There's been some hope that improved credit card technology might finally lead to greater security and a reduction of credit card fraud. One idea has been credit cards with embedded chips, … Continue reading

Chase Slate vs. Discover it

There are few things more difficult than paying off credit card debt. As unsecured debt, credit cards charge higher interest rates than home or car loans. And since the interest paid is never tax deductible, cardholders do not receive the … Continue reading

Average Credit Card Balance up 6% in December

A report from Equifax indicates a significant increase in credit card debt in America, with the average person racking up a 5.9% higher balance in 2014. In total, Americans accumulated $624.4 billion in credit card debt in 2014, up from $606.75 … Continue reading

LowCards.com Weekly Credit Card Update–March 6, 2015

Retailers Face $8.65 Billion Bill for New Generation of Credit Cards New technology about to be deployed by credit card companies will require U.S. consumers to carry a new kind of card and retailers across the nation to upgrade payment … Continue reading

Credit Card Balances Reach 6-Year High

Credit card balances grew approximately 5% in 2014, the highest growth rate since the economy crashed in 2008. The report from TransUnion showed that 157 million consumers had access to a credit card during the fourth quarter of 2014, which is … Continue reading

Paying Down Debt Top Financial Goal for 2015

According to a new poll from American Consumer Credit Counseling, 71% of Americans say paying down debt is their top financial goal for 2015. Debt payment goals far surpassed other financial New Year's resolutions, including building a savings account at … Continue reading

LowCards.com Weekly Credit Card Update–February 13, 2015

Why Some People Still Have Hidden Bank or Credit Card Accounts More than 7 million Americans, including 4.4 million men and 2.8 million women have hidden a bank or credit card account from their live-in spouse or partner, according to … Continue reading

Big Jump In Credit Card Debt in December

Consumers racked up a sizeable amount of new credit card debt during the Christmas holiday. Revolving debt, most of which is credit card debt, rose $5.8 billion during the month of December, an annualized rate of 7.9%. It was the … Continue reading

Turkey Leads Europe in Credit Card Debt

According to a new study on European credit card debt, Turkey has the highest ratio of credit card debt when compared to total consumer debt. Much of this has to do with a lack of savings in the country. Approximately … Continue reading

LowCards.com Weekly Credit Card Update–January 16, 2015

Obama Seeks Laws on Data Hacking, Student Privacy President Barack Obama wants Congress to pass legislation requiring companies to inform customers within 30 days if their data has been hacked, a move that follows high-profile breaches at retailers including Target, … Continue reading

Credit Card Debt Dropped Significantly in November

The latest monthly report from the Federal Reserve showed a large decline in credit card debt during the month of November, the first decrease in three months. According to the Federal Reserve's Consumer Credit report, the total revolving credit is … Continue reading

Credit Card Delinquencies Remain Low Thanks to Cheaper Gas Prices

The shockingly low gas prices are giving Americans more disposable income now than they have had in years. This is doing wonders to help consumers pay back their loans in a timely manner. According to a recent survey from the … Continue reading

High School Student Creates App to Help Cut Credit Card Debt

Antonio Ferris, a 15 year old Arizona high school student, has developed a smartphone app that helps credit card users see the true cost of their credit card debt. The program illustrates how long it will take a person to … Continue reading

Understanding the Snowball Method of Debt Relief

There are many ways to get rid of credit card debt or personal debt. One of the most used practices is the Snowball Method. With the Snowball Method for debt relief, you pay off your smallest debts first before getting … Continue reading