LowCards.com Weekly Credit Card Update–September 4, 2015

Credit Card Fraudsters Pump Gas Stations for Profit As motorists head out on the last big driving weekend of the summer, the credit card industry and gas-station owners are deploying everything from sophisticated software to heavy-duty padlocks to combat an … 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

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

LowCards.com Weekly Credit Card Update–October 17, 2014

Kmart Says its Store Registers Were Hacked, Exposing Credit Cards For about a month, Kmart says, its stores' checkout registers were "compromised by malicious software that stole customer credit and debit card information." The company, owned by Sears, says it … Continue reading

LowCards.com Weekly Credit Card Update–August 29, 2014

U.S. Late Payment Rate on Credit Cards is at the Lowest Level in Seven Years Americans are doing a better job of making timely credit card payments, even as many lenders increasingly extend credit to more people with less-than-stellar credit. … 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

LowCards.com Weekly Credit Card Update–December 6, 2013

Why You Should Use A Masked Credit Card To Shop Online Whenever you buy something with a credit card online, you also have to provide your name, number and address, information seen by the processing banks as well as the … Continue reading

Slight Increase in Credit Card Late Payments

There has been a slight increase in credit card late payments between the second and third quarters of 2013. The second quarter reported 90+ day late payments at 1.27% for the nation, while the third quarter showed 1.36%. While this marginal … Continue reading

LowCards.com Weekly Credit Card Update–July 12, 2013

Is a Store Credit Card Right for Your Wallet? Store credit card offers sound tempting but smart shoppers should consider taking the application home and scrutinizing the terms and conditions before deciding whether to apply for the credit card. For … Continue reading

Credit Card Balances Predicted to Increase

The majority of bankers in a recent survey expect the average credit card balance to increase over the next six months but only about a quarter of them predict that delinquencies will increase. These are the results of the latest … Continue reading

Credit Card Debt Soars, Yet Delinquencies Fall

Two reports released yesterday showed how healthy the economy is for credit card issuers. Credit card debt posted its largest increase in a year, a sign that consumers may be more optimistic about their personal finances. In addition, American households … Continue reading

LowCards.com Weekly Credit Card Update–June 21, 2013

Young Americans Are Ditching Credit Cards The number of young Americans who are living without credit cards has doubled since the recession. About 16% of consumers ages 18 to 29 didn't have a single credit card by the end of … 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

LowCards.com Weekly Credit Card Update–May 24, 2013

What's In Millennial's Wallet? Fewer Credit Cards Millennials are more financially cautious than the stereotype of the spendthrift twenty-something. Some experts say their habits echo those of another generation, those who came of age during the Great Depression and forged … Continue reading

Credit Card Debt & Delinquencies Fall in First Quarter of 2013

Americans are doing a better job of paying off their credit card debt, and they are doing so in a timely manner. According to the latest report from TransUnion, the average credit card debt per borrower fell 1.7 percent to … 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

Lowest Credit Card Delinquency Rate in 18 Years

Credit card delinquencies have reached an 18-year low, signaling that more cardholders are paying their bills on time. The number of accounts that were 30 days or more overdue dropped to 2.47% in the fourth quarter of 2012, according to … 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

Consumers Now Managing Credit Card Accounts Remarkably Well

A record number of consumers are paying their credit card bills on time as well as paying a greater percentage of their monthly balance. These were some of the findings from the February data from Fitch Ratings. The delinquency rate on retail credit card … Continue reading

LowCards.com Weekly Credit Card Update–February 22, 2013

FTC: Cramming Fraud Targets Consumers’ Credit Cards The FTC has added a new alert about a fraud called cramming where small charges of $10, $20, or $30 are secretly inserted onto your credit card bill. These small charges add up … Continue reading

Credit Card Delinquencies Rise Due to Holiday Spending

An increase in holiday spending drove up late credit card payments during the fourth quarter of 2012. The credit card delinquency rate, which represents the percentage of credit card customers that are at least 90 days overdue on their payments, … Continue reading

Credit Card Delinquency Rate Predicted to Remain Low in 2013

TransUnion predicts that credit card delinquency rates will remain low in 2013, but will increase slightly over current levels. The credit card delinquency rate is the percentage of bankcard borrowers that are 90 days or more delinquent on a credit card … Continue reading

How the Fiscal Cliff Could Affect Your Credit Card

The fiscal cliff is getting closer to becoming a reality. The members of Congress and President Obama still seem far apart. Statistics and projections show the painful consequences with tax increases for many consumers. Higher tax payments will be bad … Continue reading

LowCards.com Weekly Credit Card Update November 21

Mobile Apps Aim to Steer Consumer Credit Card Choices There are two new mobile apps which help cardholders select the best credit card to use at checkout. Wallaby Financial released a free app that helps iPhone users determine which card … Continue reading

Credit Card Balances & Delinquencies Rise in Third Quarter

The average credit card debt per American borrower increased to $4,996, up 4.9 percent in the third quarter from the year before, according to a report released today from TransUnion. Late payments at least 90 days overdue also slightly increased … 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

No Relief Expected on Credit Card Interest Rates

The Federal Reserve is again locking the lid on interest rates in an ongoing attempt to stimulate the economy. The Fed announced last week it would keep the federal funds rate at the historic low of zero to 1/4 percent, at … Continue reading

Big Decline in Credit Card Debt

New government reports give a glimpse into how consumers are handling their credit cards during these tough economic times. The latest monthly Consumer Credit Report from the Federal Reserve shows revolving credit, the majority of which is credit card spending, decreased $4.82 billion in July, … Continue reading

Credit Card Balances, Accounts & Delinquencies All Decline

The new Quarterly Report on Household Debt and Credit, published by Federal Reserve's Bank of New York, shows that credit card balances, delinquencies and number of accounts all showed declines in the second quarter from the previous quarter. Credit card balances are at $672 … Continue reading

LowCards Weekly Credit Card Update August 17

Card Swipes in Church Make Giving Easier It hasn't always been easy for administrators and lay leaders to get people to donate regularly and increase their contributions each year, no matter their faith. Over the last decade or so, entrepreneurs have seized … Continue reading

Further Declines in Credit Card Defaults and Delinquencies

More Americans are paying their credit card bills on time as well as carrying less of a balance. According to figures from last week's regulatory filings, credit card delinquencies decreased for each of the top six credit card issuers in … Continue reading