LowCards.com Weekly Credit Card Update–August 28, 2015

Banks Offering Mobile Banking But Consumers Slow to Adapt Financial institutions are offering mobile banking faster than consumers are adapting to it, according to a recently published survey from the Federal Reserve Bank of Boston. Banks and credit unions are … Continue reading

LowCards.com Weekly Credit Card Update–August 7, 2015

Using a Digital Wallet May Cost You in Credit Card Rewards Mobile payments are surging as an alternative payment method, with Forrester Research estimating that the industry will nearly triple in terms of transactions by 2019. Digital wallets are typically … Continue reading

LowCards.com Weekly Credit Card Update–July 31, 2015

Could Mike Tyson Become The New Face For Bitcoin? Although bitcoin has taken some major steps toward mainstream adoption over the past year, the cryptocurrency's user base is still largely dominated by tech-savvy individuals who see digital currencies as an … 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

LowCards.com Weekly Credit Card Update–June 12, 2015

Hackers Go After Little Fish, Too, While Trawling for Credit Cards Hackers are going local in their efforts to steal credit card information from United States customers, hitting small businesses with as much frequency as retail giants. Take Eataly, the … Continue reading

Google’s Android Pay will not Collect Card Transaction Fees

When Google finally launches Android Pay, its mobile phone payment service, it will not get a cut of the interchange fees on transactions. This is drastically different than Apple Pay. When Apple Pay was introduced, banks and merchants were clamoring … Continue reading

The LowCards.com Weekly Credit Card Rate Report for June 4, 2015

The LowCards.com Weekly Credit Card Rate Report is based on our Complete Credit Card Index which tracks the advertised rates of 1,060 credit cards in the United States. Our editorial team constantly tracks the cards in order to identify trends in credit cards interest rates. Our index showed the Annual … Continue reading

Visa Clear Sets Standards for Consumer-Friendly Prepaid Cards

Visa has created a new program is designed to eliminate the confusing, and often costly, fees associated with most prepaid debit cards. Known as the Visa Clear Prepaid Program, this system creates a stringent set of standards that prepaid cards … Continue reading

AmEx Cannot Stop Merchants From Promoting Cheaper Cards

A federal judge has ordered American Express to adjust its merchant agreements which prohibit retailers from encouraging their customers to use credit cards with fewer transaction fees. The ruling by U.S. District Judge Nicholas Garaufis could result in some better deals … Continue reading

LowCards.com Weekly Credit Card Update–April 24, 2015

House Passes Cybersecurity Bill After Companies Fall Victim to Data Breaches Responding to a series of computer security breaches in government and the private sector, the House passed an expansive measure Wednesday that would push companies to share access to … Continue reading

Costco Paying Minimal Card Fees with New Citi Visa Deal

Costco shook up the credit card industry in early March when it dropped its 16-year partnership with American Express and signed a new deal with Visa and Citigroup. Now, the retailer is in the envious position of paying almost no … Continue reading

Top 10 No Foreign Transaction Fee Credit Cards

If you are going to travel overseas, you may be researching credit cards with travel rewards. But one thing many credit card shoppers overlook is the foreign transaction fee. Numerous credit cards issued in the United States charge certain fees … Continue reading

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

Discover Rolls Out Freeze Feature on Credit Cards Discover credit card customers who can't quite put their finger on their plastic now may use a new "Freeze It" feature that acts like an on-off switch to stop new purchases and … 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

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

Why was your Credit Card Number Stolen? Retailers are Lazy If a shop wants to accept credit cards, it needs to abide by strict payment card industry (PCI) rules and pass a test. But a new Verizon cybersecurity report shows … Continue reading

European Parliament Votes to Cap Credit Card Processing Fees

On Tuesday, the European Parliament voted in favor of a new bill that caps the processing fees retailers pay on debit and credit card transactions. The bill received overwhelming support, passing with 621 votes for and only 26 against. The … Continue reading

New Mexico Bill Would Allow Credit Card Payments for Lottery Tickets

In an effort to boost ticket sales for New Mexico's struggling lottery, Democratic State Senator John Arthur Smith has proposed a bill to allow players to purchase tickets with their credit cards. At this time, the only payments accepted for … Continue reading

LowCards.com Weekly Credit Card Update–January 30, 2015

Apple Pay Accounts for $2 out of every $3 Spent with Contactless Payments Apple CEO Tim Cook said that around $2 out of every $3 spent using contactless payments across Visa, MasterCard, and American Express are being made with Apple … Continue reading

Panera Bread Testing Mobile Ordering

Panera Bread is expanding its technological operations to provide more convenient ordering options for its customers. Diners at the fast casual chain will soon have the option to place their orders on their phones or iPads and have them brought … Continue reading

Google Sues Visa and MasterCard for Excessive Interchange Fees

Google has filed a lawsuit against Visa and MasterCard for high interchange fees, which the search engine says are in violation of Section 1 of the Sherman Act. Google filed a three-page complaint with the U.S. District Court in the … Continue reading

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

Apple Pay Grows to Support 90% of U.S. Credit Cards Apple Pay has been adding support for more credit cards in the United States since the service launched. By transaction volume, the service now supports 90% of the credit cards … Continue reading

Google Adwords To Nix Credit Card Payments from Biggest Customers

Select Google Adwords users will no longer be able to pay their bills by credit card. Clients and advertising agents described as "Large Customer Sales" accounts will soon be switched to an invoicing process to cover their monthly charges. According … Continue reading

LowCards.com Weekly Credit Card Update–December 5, 2014

What Happens When You Swipe Your Card? This holiday shopping season, you might worry that every time you swipe your credit or debit card some criminal might be swiping your account number and with good reason. The number of reported, … Continue reading

Business-to-Business Credit Card Volume Doubles in Two Years

Business credit cards went through a very difficult period during the economic downturn. Issuers cut back on the approval rates of these cards, some getting out of the segment altogether. Many businesses stopped using the cards due to the high … Continue reading

LowCards.com Weekly Credit Card Update–October 31, 2014

Some U.S. Retailers Shun Apple Pay, Eye Rival Payments System Some large U.S. retailers are refusing to use Apple Pay, Apple's new electronic payments service, as they commit to developing a rival payments system that would bolster their profits by … Continue reading

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

Aldi Now Accepting Credit Cards in England

Aldi, the retail food chain best known for its low prices, will lift the credit card ban for its stores in England beginning October 13. Until now, the store has operated on a cash and debit card payment system, but … Continue reading

Pay Rent with a Credit Card, Thanks to New App

A new app known as RadPad allows users to pay rent with a credit card, even if the landlord does not accept credit card payments. For landlords who are signed up with RadPad, the app sends money from the tenants … Continue reading

Do Credit Cards Let You Go over the Credit Limit?

Every credit card comes with a credit limit--a virtual cap on the amount of money you can charge to the card. This limit is set based on your credit worthiness and the specific card you have. When an emergency situation … Continue reading

Credit Card Comparison Site Sued for Displaying Rates

First Premier Bank is suing card comparison site CardHub for displaying its credit card rates and fees on the CardHub website. First Premier claims this is copyright infringement. The suit was filed in a federal district court in South Dakota, … Continue reading

Restaurant Takes Credit Card Fees out of Server Tips to Battle Minimum Wage Increase

Minnesota recently raised its minimum wage to $8 an hour, which is $0.75 higher than the federal minimum wage. While this small increase has benefited employees, it has also led merchants to come up with ways to offset this cost … 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–July 18, 2014

Credit Card Fees are Killing Small Businesses There is no real competition in the market for credit and debit card swipe fees. Because Visa and MasterCard control 80% of the card market, they are able to dictate terms. The system … 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

AmEx On Trial Over Credit Card Processing Fees

American Express went on trial yesterday with the U.S. government and 17 states claiming AmEx stifles competition from other credit card companies that charge lower processing fees. The case alleges that American Express will not allow merchants to offer discounts and other … Continue reading

5 Most Important Things To Consider When Picking A Credit Card

If you are interested in obtaining a new credit card, then you need to think about a few of the critical factors that should go into that decision. Applying for a new credit card should not be a decision made … Continue reading

LowCards.com Weekly Credit Card Update–May 23, 2014

Microchips in our Passports and Credit Cards: Are They Safe? U.S. passports have them. And these days, many more U.S. credit cards are starting to carry them, too. The tiny plastic chips embedded in passports and credit cards are primarily … Continue reading

Cabela’s Bank Fined $1 Million for Deceptive Credit Card Practices

The credit card bank operated by outdoor retailer Cabela's is now facing a $1 million fine from the Federal Deposit Insurance Corp for allegations of deceptive and unfair acts. In March 2011, the bank had to pay $10.4 million in restitution … Continue reading

Retail Group Appeals Swipe Fee Settlement

After a federal judge approved the $5.7 billion settlement over interchange fees between credit card companies and retailers, the National Retail Federation has filed an appeal, claiming that the current settlement is "flawed." "The settlement does nothing to reform the … Continue reading

Top 10 Credit Card Stories of 2013

Identity theft and actions by the Consumer Financial Protection Bureau dominated the credit card headlines in 2013. Below are the Top 10 news stories of the year in the credit card industry. One of the largest data breaches in history … Continue reading

LowCards.com Weekly Credit Card Update–December 27, 2013

American Express To Pay $75 Million Over Credit Card Practices The Consumer Financial Protection Bureau has ordered American Express to pay more than $75 million to settle claims that it charged improper fees and misled its credit card customers over … 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

Group Attacks American Express Over Small Business Saturday

American Express is receiving some heat from a group called Main Street Alliance that says the card company's "Small Business Saturday" is hypocritical in its values. Small Business Saturday is the Saturday after Black Friday, a day when consumers are … Continue reading

CloudPay Gives Credit Card Processing Fees to Charity

CloudPay is a payment processing program in northern California that acts much like any other mobile payment system on the market. When a customer makes a credit card purchase, the retailer has to pay a processing fee. But with CloudPay, … Continue reading

Credit Cards for People with Bad Credit

If you have bad credit, obtaining a traditional credit card can be a major challenge. Most companies are not willing to approve you for an account because they fear that you may not be able to pay back any credit … 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

Study Finds CARD Act Saved Consumers $20 Billion Annually

A recent study by the Social Science Research Network shows the CARD Act may have saved credit cardholders over $20 billion annually since its implementation. The study found that regulatory limits on credit card fees reduced overall borrowing costs by … Continue reading