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

Credit Cards for Bad Credit with No Annual Fee

Finding a credit card with bad credit can be a bit of a challenge. A number of credit card issuers don't want to take on the risk of this kind of account because low credit scores indicate a certain amount … Continue reading

Choosing a Credit Card Comparing All the Options

If you are going to apply for a new credit card, it is important to get the right one for your needs. Many people do not realize how many different types of credit cards there are in the United States. … Continue reading

Benefits of Credit Cards over Debit Cards

Some people use the terms "credit card" and "debit card" interchangeably, as if they are one in the same. However, there are big differences between these two types of cards, and those differences make one choice more favorable than the … Continue reading

Who Killed the Cash Register?

PayPal announced its new Cash for Registers program last month, which encourages merchants to switch from cash registers to PayPal-powered POS systems. With their latest commercial, the company is now asking "Who killed the cash registers?" in a funny Law … Continue reading

United Credit Card Eliminates Foreign Transaction Fee

For people who use the United MileagePlus Explorer card, we have exciting news. Beginning this month, Chase has decided to remove the foreign transaction fee on the card, making it even more travel-friendly. A foreign transaction fee is an additional … Continue reading

EU Launches Antitrust Probe of MasterCard Fees

The European Commission has begun an investigation regarding the fees MasterCard charges consumers for card transactions made while visiting Europe. According to the BBC, the European Commission, the antitrust regulator of the European Union, said some of the firm's "inter-bank … Continue reading

LowCards.com Weekly Credit Card Update–March 29, 2013

What You Need to Know About Credit Card Processing Here is a series of posts about a search for an honest and affordable processor of credit card transactions. My own search began when I was tipped off that I was … Continue reading

MasterCard Hits PayPal with New Fees

Up until now, PayPal and similar electronic payment processors have been able to avoid excessive fees from credit card companies, with those companies assuming all the costs for transactions in their systems. MasterCard has finally grown tired of this, and … Continue reading