Some Significant Shifts in the Credit Industry

A new survey shows some noteworthy shifts taking place in the credit industry. Rejection rates for credit applications are declining and more consumers plan to apply for credit during the next 12 months. The New York Federal Reserve's Survey of … Continue reading

New Card Skimmers Steal Information at the ATM’s Door

Information-stealing credit card skimmers are far from "new" technology, but the latest ones take the skimming process to a new level. Law enforcement officials have discovered skimmers on the outside of enclosed ATM hubs where a person must swipe a … Continue reading

LowCards.com Weekly Credit Card Update–March 27, 2015

Google Working on Project to Let You Receive and Pay Bills Directly Inside Gmail Google's mission to organize the world's information is now targeting your physical mailbox. The company is currently working on a project that will allow Gmail users … Continue reading

The LowCards.com Weekly Credit Card Rate Report for March 26, 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

Discover and AmEx Top Credit Cards in Consumer Satisfaction

According to a recent consumer satisfaction survey of more than 6,600 credit card users, Discover and American Express are the most "satisfying" credit card companies in America. The 2015 U.S. Credit Card Satisfaction Report from Credio is the first of … 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

Top 7 No Annual Fee Credit Cards Of 2015

There are plenty of different credit cards on the market, many with tempting offers and rewards, so it can be hard to figure out which card is best for you. Some credit card companies charge a fee when you are … Continue reading

LowCards.com Weekly Credit Card Update–March 20, 2015

Facebook to Let Messenger Users Send Cash to Friends Facebook is giving the more than 500 million users of its Messenger app the ability to send money to each other, becoming the latest mobile platform to incorporate a payments service. … Continue reading

American Express, Charles Schwab Enter Co-Branded Card Agreement

Today, American Express announced it will enter into an exclusive multi-year partnership with brokerage company Charles Schwab to develop two new premium cards. The cards will be available early next year and will carry the names of both companies. No … Continue reading

The LowCards.com Weekly Credit Card Rate Report for March 19, 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

CFPB Wants Public’s Input on Credit Card Industry

The Consumer Financial Protection Bureau is requesting public input on how the credit card market is operating. This is part of a required review which must be conducted every two years according to the CARD Act of 2009. The Request for … Continue reading

Free iPhone Upgrades for AmEx Cardholders in India

American Express credit cardholders in India can now upgrade their iPhones by simply redeeming their rewards points at Apple Stores. This is part of the new Pay with Points program that provides real-time opportunities to cash in rewards with more … Continue reading

The 5 Best Small Business Credit Cards Of 2015

It's not easy running a small business, and owners have to fight for every bit of revenue they can, while closely tracking their expenses. Credit cards designed for business use can help with this task by offering a single place … Continue reading

Even Billionaires Use Rewards Credit Cards

Even the rich and famous like to tally up their credit card rewards. Billionaire Liu Yiqian used his frequent flier miles to fly to Hong Kong to purchase an ancient Tibetan silk tapestry for $45 million, according to Bloomberg. Liu … Continue reading

Good Samaritan Finds, Returns Tom Hanks’ Lost Credit Card

What would you do if you found the credit card of a Hollywood celebrity lying on the street? An unidentified man by the name of "Tony" found Tom Hank's credit card in New York, and promptly returned it to 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

CFPB Study Verifies the Need for Arbitration Clause Reform

The Consumer Financial Protection Bureau has released a study that verifies just how important it is for the government to reform mandatory arbitration clauses in credit card agreements. The study shows 75% of consumers are unaware of the arbitration clauses … Continue reading

The LowCards.com Weekly Credit Card Rate Report for March 12, 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

New PayPal Here Card Reader Supports NFC Payments

PayPal will soon launch a new version of its PayPal Here credit card reader which is expected to accept NFC payments as well as chip-and-PIN credit cards. Merchants and small business owners using PayPal Here will be able to accept … Continue reading

CFPB May Reform Mandatory Arbitration Clauses in Credit Card Agreements

The Consumer Financial Protection Bureau may issue a report this week on how limited consumers are when they want to take action against their credit card company, according to the Washington Post. The current system of mandatory arbitration prevents customers … 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

The LowCards.com Weekly Credit Card Rate Report for March 5, 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

CFPB Wants to Suspend Credit Card Agreement Submissions

Last week, the Consumer Financial Protection Bureau proposed a temporary suspension to the requirement that credit card issuers submit their consumer agreements so they can be posted on the CFPB website for public access. The CFPB wants to create a … Continue reading

American Express Offers $100 Reimbursement for Merchants Upgrading to EMV Terminals

To help merchants make the switch to EMV terminals before the October 2015 deadline, American Express has launched a Small Merchant EMV Assistance Program that offers a $100 reimbursement for retailers that upgrade their payment terminals. The company has put … Continue reading

Bulk Reef Supply Reports Website Hacked

Bulk Reef Supply, one of the leading suppliers for saltwater aquarium supplies in the United States, reported their website was hacked between July 30th, 2014 and January 22, 2015. Passwords, email addresses and credit card information may have been exposed … 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

Visa and Citi Win Credit Card Deal with Costco

Costco announced today that it will enter into a new co-brand credit card program with Citi, with Visa replacing American Express as the card network. Costco stated on February 12 that it was ending its exclusive relationship with American Express in the … Continue reading

Boku Launches Phone-on-File Payments to Compete with Credit Cards

Boku, a mobile payment solution using carrier billing, has created a program called Phone-on-File that allows phone numbers to be stored for one tap purchases, much like a credit card. The stored numbers can be used for both one-time and … Continue reading

LowCards.com Weekly Credit Card Update–February 27, 2015

Google Buys Softcard, Teams Up with Carriers on Mobile Payments Google and the mobile carriers have long been at odds over mobile payments, but faced with the runaway success of Apple Pay, the two rivals have become friends. AT&T, Verizon … Continue reading

The LowCards.com Weekly Credit Card Rate Report for February 26, 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

Millions of Consumers Confused by Free Credit Scores

More than 50 million Americans now have access to free credit scores, according to the Consumer Financial Protection Bureau. But many of these consumers have no clue how to interpret them or what to do with the scores once they see … Continue reading

LowCards.com Weekly Credit Card Update–February 20, 2015

In Challenge to Apple Pay, Samsung Buys Mobile Payment Company Samsung is buying mobile-payment startup LoopPay as the Korean phone maker steps up to challenge Apple and its payment system on iPhones. The deal strengthens speculation that Samsung Electronics plans … Continue reading

The LowCards.com Weekly Credit Card Rate Report for February 19, 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

Did Samsung Just Beat Apple in the Mobile Payment Market?

The mobile payment industry may have taken a seismic shift today when Samsung announced it would acquire LoopPay for an undisclosed amount of money. The acquisition is seen as a major move by the South Korean company to compete with … Continue reading

JetBlue to End Partnership with American Express

JetBlue Airways Corporation will soon be dropping American Express as its credit card provider in favor of MasterCard and Barclays, according to multiple media reports. The Jet Blue-American Express partnership began in 2005, and will expire at the end of … 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

Costco, American Express to End Exclusive Partnership in U.S.

The exclusive relationship between American Express and Costco will end in the retailer’s United States stores on March 31, 2016, the credit card issuer announced this morning. The Canadian division of Costco made a similar decision in September of last … Continue reading

The LowCards.com Weekly Credit Card Rate Report for February 12, 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

Citi ThankYou Premier Card Rewards Changing in April

The Citi ThankYou Premier Card is a favorite in the rewards category, and it will soon be making some slight alterations in the way it rewards its cardholders. Beginning April 19, there will be a shift in the rewards structure … 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

Consumers Still Skeptical of Mobile Wallets, Study Finds

A new study shows consumers are still hesitant to adapt to mobile wallets. The report indicated the low interest in digital wallets stems mainly from security concerns and limited opportunities to use the wallets. According to 451 Research as reported in … Continue reading

Subprime Credit Card Company Must Refund $2.7 Million in Excessive Fees to Customers

On Wednesday, the Consumer Financial Protection Bureau ordered subprime credit card company Continental Finance Company LLC to pay $2.7 million in refunds to its customers for misrepresented services and excessive fees. The order also mandated the Delaware-based company to pay $250,000 … Continue reading

CFPB Asks Court to Close Down Sham Credit Card

The Consumer Financial Protection Bureau is taking action against Union Workers Credit Services for convincing consumers to sign up for a sham credit card. The lawsuit was first issued in December of 2014, but the bureau requested a consent order … Continue reading

The LowCards.com Weekly Credit Card Rate Report for February 5, 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

Swyp All-in-One Credit Card Learns Your Spending Patterns

Swyp, a new innovation from Qvivr, is a digital wallet which acts as an all-in-one credit card. SWYP has a chip that stores account information for each of your cards. What makes this device special is the fact that it can predict … 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