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

LowCards.com Weekly Credit Card Update–December 26, 2014

Staples Estimates Hackers Breached 1.16 Million Credit Cards Staples confirmed that suspicious cyber activity, first spotted in September, was most likely a malware attack that may have breached 1.16 million credit cards. A preliminary investigation found evidence of malware installed … Continue reading

Men Better at Managing Credit Cards Than Women

According to research from BMO Harris Bank, men are better at managing their credit cards than women. The study showed men are more likely to pay off their card balances every month compared to women. 39% of male participants in … Continue reading

How to Recover from Holiday Credit Card Debt

Holiday shopping is a wonderful experience, until the credit card bills start rolling in. Once the joy of the giving has passed, you stare at the painful task of paying the bills. There are several ways to recover from holiday credit card … Continue reading

The States with the Lowest Holiday Credit Card Debt

Holiday spending is picking up steam throughout the United States as shoppers buy gifts for their loved ones. In the midst of this high-spending season, consumers in some states handle the shopping better than others. In fact, credit card debt … Continue reading

New Year’s Credit Card Resolutions

We're approaching another new year, which means we all have a chance to focus and fix areas of our life with some New Year's resolutions. One resolution may be to get your credit card account in order so you can … Continue reading

Credit Card Issuers Will Earn $159 Billion This Year

According to a new report from R.K. Hammer, U.S. credit card issuers will generate $158.6 billion in revenue this year. That is a 9% increase from the $146 billion in 2013, and only 6% less than the debt peak back … 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

The 10 States with the Most and Least Credit Card Debt

Which states have the most credit card debt? The least? A new study by Experian-Oliver Wyman Market Intelligence Reports analyzed the average credit card debt in United States for the second quarter of this year, and it found that Alaska remained … Continue reading

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