LowCards.com Weekly Credit Card Update–September 19, 2014

Millions of Americans' Wages Seized over Credit Card and Medical Debt Millions of Americans are still grappling with debt they've accumulated since the recession hit. And new numbers out show many are having a tougher time than you might think. … Continue reading

Credit Card Debt Reaches Post Recession High

New credit card debt in America hit a post-recession high in the second quarter of 2014, reaching a total of $28.2 billion, according to a new study. That is the largest amount of debt since the economic downturn and almost 200% … Continue reading

LowCards.com Weekly Credit Card Update–September 12, 2014

Apple Pay Could Make you Poorer The new Apple payment system has extraordinary promise. With Apple Pay, you might not need a wallet, and you can leave your credit and debit cards at home. In terms of ease and convenience, … Continue reading

Millennials Shying Away from Credit Cards

Credit card issuers must be very concerned by the results of a survey released today: nearly two-thirds of millennials do not have a credit card. 63% of adults 18-29 years old do not own a credit card compared to 35% of adults … 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

5 Tips For Credit Card Management In Your 20′s

Your 20’s are an important time in your life. It is usually when you are first given the burden of handling and managing your own money. For many, this can be liberating, but it also comes with its own set … Continue reading

LowCards.com Weekly Credit Card Update–August 8, 2014

Why You Have To Start Paying Down Your Credit Cards Right Now Federal Reserve meetings aren't high on most people's list of interesting things, but if you have a credit card and carry a balance, you should probably start paying … Continue reading

High Credit Card Debt Increases Risk of Depression

According to a study from Rutgers University, older adults with a high level of unsecured debt are much more likely to exhibit symptoms of depression compared to people with secured debt. Unsecured debt is debt that has no physical property … Continue reading

Which States Have the Most Credit Card Debt?

The latest credit card debt statistics from Experian indicate that consumers in some states are starting to carry larger credit card balances once again, despite a slight improvement between 2012 and 2013. The average outstanding credit card debt in America … 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

6 Tips For Paying Off Your Credit Card Debt

If you are looking to pay off your credit card debt, you are making the right financial move. It is easy for manageable credit card debt to turn into an overwhelming situation. But the good news is that you can … 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

LowCards.com Weekly Credit Card Update–July 11, 2014

Report Says Debt Settlement Companies May Leave Customers Worse Off Using a settlement company to help you dig out from underneath burdensome debt may sound appealing, but it may leave you worse off than when you started, according to new … Continue reading

Woman Sues Kohl’s Over Harassment for $20 Credit Card Bill

A Michigan woman is suing Kohl's after receiving a number of harassing phone calls from the company over an overdue $20 credit card bill. Lisa Ratliff says that she chose not to pay the bill, incurred last November, after receiving … Continue reading

Paying Off Credit Card Debt–A Great “Investment” You Can Make

We all know that investing money is a good idea because it typically grows over time, leading to long-term profits. When someone says "investments," we usually think of stocks, bonds and mutual funds. Paying off your credit card debt may … Continue reading

Credit Card Payments May Take on New Role in Credit Scores

The country's three biggest credit bureaus may eventually change the way they calculate credit scores. The new system could be designed to give "transactors" better scores than "revolvers" for their credit card payments because those individuals have proven themselves to … Continue reading

LowCards.com Weekly Credit Card Update–June 13, 2014

Credit Card Use Surges in AprilAmerican consumers threw caution to the wind in April and ran up their credit-card balances at the fastest pace in almost 13 years. The amount of outstanding revolving credit--a figure that’s mostly credit card debt--rose … Continue reading

LowCards.com Weekly Credit Card Update–May 16, 2014

Airlines Make Less on Bag Fees While Promoting Credit Cards Airlines made 4% less on baggage fees in 2013 than in the previous year, according to federal statistics released last week. That sounds like great news for consumers, but it's … Continue reading

LowCards.com Weekly Credit Card Update–May 12, 2014

Target CEO Steps Aside After Massive Data Breach A Christmas-season cyberattack on Target's computer systems did more than expose massive amounts of customer credit card data to potential fraud. It also turned up the heat on deeper troubles that simmered … Continue reading

LowCards.com Weekly Credit Card Update–May 2, 2014

After Data Breach, Target Plans to Issue More Secure Chip-and-PIN Cards Still pushing to right itself after an enormous data breach by cybercriminals, Target announced that it would switch its debit and credit cards over to a more secure technology … Continue reading

LowCards.com Weekly Credit Card Update–April 11, 2014

Heartbleed Threat Puts Passwords, Credit Cards, and Other Data at Risk Passwords, credit cards and other sensitive data are at risk after security researchers discovered a problem with an encryption technology used to securely transmit email, e-commerce transactions, social networking … Continue reading

Bank of America Must Pay $772 Million for Illegal Credit Card Practices

Today, Bank of America was ordered by the Consumer Financial Protection Bureau to refund $727 million to consumers who were deceived by the bank's marketing of credit card payment protection programs and others who were charged for credit monitoring services they never … Continue reading

Credit Card Debt Drops for Second Straight Month

The latest Consumer Credit report from the Federal Reserve shows that credit card debt has decreased for the second consecutive month. The February G19 report shows that revolving credit, made up mostly of credit card debt, decreased $2.4 billion from … Continue reading

30% of Americans Have More Credit Card Debt Than Savings

A new survey indicates that nearly 30% of Americans have more credit card debt than savings. Only 51% of those surveyed said they had enough money in their emergency funds to pay off all of their current credit card debt. The … Continue reading

The Appeal of Prepaid Debit Cards

Two new surveys from the Pew Charitable Trusts show that prepaid debit cards have become a popular alternative to checking accounts for more Americans. Consumers loaded $64.5 billion onto prepaid debit cards in 2012, a 13% increase from the $56.8 billion in 2011, and … Continue reading

LowCards.com Weekly Credit Card Update–February 21, 2014

A Line of Defense Against the Theft of Personal Data Credit-monitoring is often backward-looking, informing you of new accounts that thieves may have already opened in your name. But a freeze prohibits the bureaus from releasing your credit reports to … Continue reading

Will Capital One Revise Policies in Credit Card Agreement?

Very few people ever read their credit card agreement, but there has been a public outcry over the fine print in Capital One's agreement with their cardholders. The updated contract says that Capital One "may contact you in any manner … Continue reading

LowCards.com Weekly Credit Card Update–February 14, 2014

Target Data Breach Pits Banks Against Retailers Banks and big retailers are locked in a debate over the breach of consumer data that gripped Target during the holiday season. At issue: Which industry bears more responsibility for protecting consumers' personal … Continue reading

Consumer Borrowing Jumps in December

Demands for auto, student and credit card loans experienced significant increases in December, according to the latest figures from the Federal Reserve. Consumer credit increased $18.8 billion in December, an annual rate of 7.3%. This was the biggest increase in 10 months. Over … Continue reading

Millennials Cutting Back on Credit Cards, But Struggle with Credit Scores

Millennials are carrying far fewer credit cards with smaller balances than older consumers but are still struggling with their credit scores and debt utilization. Experian’s Fourth Annual State of Credit analyzed the credit card habits of four generations: Millennials (19-29), … Continue reading

Seniors Spending More Money on Credit Cards and Mortgages

According to new research from the National Center for Policy Analysis, senior citizens are spending more on mortgage loans and credit cards than ever before. The study compares data from 1989 to 2010 to assess how finances among the nation's … Continue reading

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

Target Says 40 Million Credit, Debit Cards May Have Been Compromised in Security Breach Target said Thursday that credit and debit card account information for 40 million of its customers may have been stolen during the height of the holiday … Continue reading

Service Personnel Have High Risk of Credit Card Debt

A recent survey suggests that young military servicemen are at a particularly high risk of developing credit card debt. Due to the nature of their pay schedule and the amount of time they spend away from home, many of these … Continue reading

Reducing Credit Card Debt in 2014

Christmas shopping has reached a frenzied pace, and millions of consumers are buying 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 credit … Continue reading

LowCards.com Weekly Credit Card Update–December 13, 2013

Mobile Banks Gaining Popularity with Young Consumers The new alternative banks work with traditional banks to hold deposits, so the money in your account is FDIC-insured. GoBank is the mobile banking arm of the Green Dot Corporation, which holds the … Continue reading

Parents Willing To Take On Credit Card Debt For Happier Holidays

Many parents will go to great lengths to keep their children happy, even if that means going into credit card debt. According to the latest survey from Lexington Law, 57% of parents are willingly take on credit card debt to … Continue reading

Iowa Maintains Lowest Credit Card Debt Per Capita

According to a report from TransUnion, Iowa had the lowest credit card debt per capita during the second quarter of 2013. The average debt per borrower in Iowa was $3,885. To put this into perspective, states like Alaska reported per … Continue reading

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

Credit Card Debt Declines for Fourth Straight Month U.S. credit card balances declined for the fourth consecutive month in September, suggesting rising caution among the nation's consumers. Revolving credit, which largely reflects money owed on credit cards, fell by a … Continue reading

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

MasterCard 3rd-Quarter Net Rises 14% on Increased Purchases MasterCard said third-quarter earnings rose 14% as spending on its credit and debit cards continued to grow. MasterCard, like its larger rival Visa, operates a payments network that processes transactions made on … Continue reading

Reduce Credit Card Debt with Micropayments

Holiday shopping is just around the corner, and consumers need to have their credit card balances as low as possible in order to avoid costly interest charges. One way to do this is to make micropayments on their credit card … Continue reading

Young Credit Card Users Are More Responsible Than Their Parents

The common perception is that young adults are not financially responsible, mainly because they lack experience in dealing with money. But a recent study from Arizona State University suggests that college-aged credit card users are actually more responsible than middle-aged … Continue reading

Sen. Tom Coburn Tears Up America’s Credit Card

During the recent debates about the government shutdown and debt limit, Senator Tom Coburn performed quite a "show and tell" demonstration of America's debt. To underscore a point about America's erratic spending habits, the Republican Senator from Oklahoma cut a … 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

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

Credit Card Debt Continues Steady Decline

Consumers continue to be very cautious with their credit cards. Revolving balances on credit cards declined for the third straight month in August, according to the latest Consumer Credit Report by the Federal Reserve. Balances have declined by over $6 … Continue reading

CFPB Fines and Bars Leading Firm Over Debt Settlement Fees

The Consumer Financial Protection Bureau today fined one of the country's largest debt settlement payment processing companies $1.376 million for allegedly helping other firms collect millions of dollars from consumers in illegal upfront fees. Meracord LLC and its CEO, Linda … Continue reading

Debt Linked to Health Concerns in Young Adults

Heavy debt loads could be causing higher blood pressure in young people according to a new Northwestern Medicine study. The study found that high financial debt is connected with higher diastolic blood pressure and could affect physical and mental health … Continue reading