Michaels Breach Exposed Nearly 3 Million Cards

Michaels, the nation's largest arts and crafts chain, said that nearly three million debit and credit cards may have been exposed in their data breach. The company said that the data security attack has been contained. The company reported that … Continue reading

LowCards.com Weekly Credit Card Update–April 18, 2014

States Probing Massive Data Breach of Social Security Numbers In what could be one of the biggest data breaches in history, the federal government and authorities in several states are investigating the criminal sale of Social Security numbers, bank account … Continue reading

The LowCards.com Weekly Credit Card Rate Report for April 17, 2014

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

Credit Card Skimmer Found in NYC Metro Machine

If you are a New York Metro rider, you may want to keep a close eye on the MetroCard vending machines you use to pay for your ticket. The Metropolitan Transportation Authority recently found a skimmer and camera that was used … Continue reading

Proposed Senate Bill Mandates Free Annual Credit Scores

A proposed bill in the United States Senate would mandate all consumers have access to free annual credit scores. The Stop Errors in Credit Use and Reporting (SECURE) Act is designed to reduce the problems consumers experience through errors in their … Continue reading

American Express Offers $5 iTunes Credit Thru April

American Express has a special running through April that allows consumers to get $5 off a $5 iTunes purchase when using an Amex card. The statement from American Express: "Spend a total of $5 or more on iTunes using your … Continue reading

Stolen Target Credit Card Numbers Used in Denver

More credit card numbers stolen in the Target breach continue to surface. A suspect in Lakewood, Colorado was caught on camera using 16 card numbers from the breach at stores like Walmart, Best Buy, and of course, Target. Investigators believe … Continue reading

New Service Allows Shoppers to Load Digital Coupons onto Credit Cards

Coupons.com is known for helping people save money, but its newest service may bring those savings to a new level. The company now has a program on its website and mobile app that allows users to upload digital coupons onto … Continue reading

Another Massive Data Breach Under Investigation

A data breach that may have exposed the personal information of over 200 million Americans--over twice the size of the Target breach--is not getting nearly the attention of other recent data breaches. Hieu Minh Ngo, a Vietnamese national, posed as … Continue reading

LowCards.com Weekly Credit Card Update–April 11, 2014

Heartbleed Threat Puts Passwords, Credit Cards, and Other Data at Risk Passwords, credit cards and other sensitive data are at risk after security researchers discovered a problem with an encryption technology used to securely transmit email, e-commerce transactions, social networking … Continue reading

PayPal Here Redesigned to Accept Chip-and-PIN Credit Cards in Australia

PayPal Here is a mobile app and bluetooth device which allows small businesses in Australia to accept credit cards on their smartphones. The new model is designed to work with chip and PIN cards. Users will not have to plug … Continue reading

The LowCards.com Weekly Credit Card Rate Report for April 10, 2014

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 Has History of Cracking Down on Illegal Credit Card Practices

Today’s actions by the CFPB against Bank of America for illegal credit card practices was the fifth such crackdown on a major credit card issuer by the Bureau in the past two years. As reported earlier, Bank of America was … Continue reading

Bank of America Must Pay $772 Million for Illegal Credit Card Practices

Today, Bank of America was ordered by the Consumer Financial Protection Bureau to refund $727 million to consumers who were deceived by the bank's marketing of credit card payment protection programs and others who were charged for credit monitoring services they never … Continue reading

Walmart Partners with MasterCard for Store Branded Credit Cards

MasterCard will be the new payment network for Walmart’s store-branded credit cards, ending the nine year partnership between Discover and Walmart. MasterCard will also handle all the transactions on the store-branded credit cards for the Sam's club subsidiary. General Electric’s … Continue reading

Credit Card Debt Drops for Second Straight Month

The latest Consumer Credit report from the Federal Reserve shows that credit card debt has decreased for the second consecutive month. The February G19 report shows that revolving credit, made up mostly of credit card debt, decreased $2.4 billion from … Continue reading

Wells Fargo Continues Credit Card Push

For the past year, Wells Fargo CEO John Stumpf has had a major corporate directive for his bank to capture a greater share of the credit card market. Wells Fargo took another step toward this goal by entering into a credit … Continue reading

The LowCards.com Weekly Credit Card Rate Report For April 3, 2014

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

Investigation Continues into Possible Credit Card Breach at California DMV

The California Department of Motor Vehicles continues to investigate a possible debit and credit card breach which may have taken place on online transactions between August 2013 and January 2014. The DMV believes that there may have been security problems … Continue reading

LowCards.com Weekly Credit Card Update–March 28, 2014

Why So Many Retail Stores Get Hacked for Credit Card Data When a big retailer gets hacked, it's often quick to note that it has complied with cybersecurity rules set by the credit card industry. MasterCard, Visa and other card … Continue reading

Retailers Feeling Pressure of 2015 Chip and PIN Deadline

October 2015 may seem like a date far off in the future, but it is too close for retailers needing to upgrade their card payment processors. Merchants who fail to complete the transition before the deadline will be held responsible … Continue reading

American Express Invests in International Mobile Credit Card Processor

Credit card giant American Express recently bought in a minority stake in India-based Ezetap, a mobile credit card processor that accepts both magnetic and chip-and-PIN cards with a simple dongle. Ezetap is similar to American-based Square since both devices process credit … Continue reading

30% of Americans Have More Credit Card Debt Than Savings

A new survey indicates that nearly 30% of Americans have more credit card debt than savings. Only 51% of those surveyed said they had enough money in their emergency funds to pay off all of their current credit card debt. The … Continue reading

Chase Bank Accused of Robo-Signing Credit Card Collections

Robo-signing exploded onto the news during the housing crisis when banks were accused of automatically signing default papers without properly reviewing them. Now, the robo-signing controversy is spilling over to another financial product--credit cards. A consumer, Ruth Moya of Miami, … Continue reading

American Express CEO Earns $22 Million in Incentives

American Express CEO Kenneth Chenault is now ranked as one of the highest paid chief executive officers in the country. His total compensation for 2013 was $24.4 million, with only $2 million of that coming from his actual salary. Chenault's … Continue reading

Visa and MasterCard Stop Servicing Several Russian Banks

The sanctions imposed by the US Government on Russia for their annexation of Crimea are now starting to affect the common Russian citizen. Visa and MasterCard have stopped processing transactions by cardholders at several Russian banks that have been earmarked … Continue reading

LowCards.com Weekly Credit Card Update–March 21, 2014

Consumers Not Powerless in Face of Credit Card Fraud Most card companies already have custom alerts and other features that not enough consumers use. Then there's something that all cards should have but most don't--an on/off switch accessible from a … Continue reading

The LowCards.com Weekly Credit Card Rate Report for March 20, 2014

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

Neiman Marcus Sued after Data Breach

An Illinois woman is suing Neiman Marcus as a result of the 2013 data hack. She is seeking money on behalf of the 350,000 customers whose lives were affected by this breach. "Neiman Marcus has placed the burden on aggrieved … Continue reading

Expiration Dates Dropped on Some Store Credit Cards

Some private-label credit cards, like those issued by Macy's, may be dropping their expiration dates in the coming years. Expiration dates on bank-issued credit cards are used for several reasons. Some issuers take this as an opportunity to review a … Continue reading

American Express Announces Support for Startups at SXSW

American Express announced several new initiatives at the recent South by Southwest Interactive Festival, including a plan to support the country's startup businesses that help all Americans gain access to the mainstream financial system. The company will also sponsor a documentary … Continue reading

China Blocks Plans for Virtual Credit Cards

China's central bank has put a stop to virtual credit cards, citing security concerns in the verification process of these products. The bank also stopped payments via Quick Response or QR codes, according to the Chinese state press agency Xinhua. Alibaba … Continue reading

LowCards.com Weekly Credit Card Update–March 14, 2014

How Target Blew It Poring over computer logs, Target found FireEye's alerts from November 30 and more from December 2, when hackers installed yet another version of the malware. Not only should those alarms have been impossible to miss, they … Continue reading

The LowCards.com Weekly Credit Card Rate Report for March 13, 2014

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 and MasterCard Set Deadline for Chip and PIN Credit Cards

Visa and MasterCard have officially set a deadline for retailers to adopt to EMV (chip and PIN) credit card technology. By October 2015, all stores will be expected to accept these kinds of cards if they want to accept Visa … Continue reading

Should I Get an Emergency Credit Card for my Teenager?

Once your teenager is driving, it is a good idea that he or she have access to some funds in case of an emergency. You don't want your loved one stranded on the side of the road, unable to pay … Continue reading

Do You Know about Credit Card Repo Clauses?

According to a recent study of credit card terms in the United States, many card agreements allow banks to repossess items you have purchased to make up for money you owe on your account. More than 200 publicly-filed credit card … Continue reading

Simsbury Bank Credit Cardholders Target of Phishing Scam

A bank will never ask customers for their private information over the phone. That is one rule of thumb to help consumers guard against thieves trying to steal their financial assets. But thieves still try to use this ploy. A … Continue reading

Politicians Push for Stronger Credit Card Security

The number and magnitude of credit card hacks in America over the last few months has now prompted several lawmakers to push for stronger security systems. Some are asking for a mandatory transition to chip-and-PIN cards, while others say the … Continue reading

Credit Card Fraud Investigation Turns into Pot Bust

The investigation of a counterfeit credit card operation in New Jersey quickly turned into a major pot bust. Police officers in Egg Harbor Township began tracking the case in January when a couple was suspected of placing a number of … Continue reading

Sally Beauty Victim of Huge Card Breach

Yet another retailer appears to have fallen victim to a large-scale card hack. This time, it is Sally Beauty Supply stores. According to security expert Brian Krebs, over 280,000 debit and credit cards have been stolen and sold on an underground … Continue reading

LowCards.com Weekly Credit Card Update–March 7, 2014

Another Day, Another Retailer in a Massive Credit Card Breach The corporate hacks keep coming. The latest target, according to cybersecurity blogger Brian Krebs, is the beauty supply chain Sally Beauty, a retailer that draws customers from salons and other … Continue reading

The LowCards.com Weekly Credit Card Rate Report for March 6, 2014

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

This Credit Card May Be Safer Than Chip and PIN

Paul Berger, a professor of electrical and computer engineering at Ohio State University, is working on a credit card design that may slow down identity theft. His creation of a hardware encrypted credit card is said to be extremely secure, … Continue reading

MasterCard Working on Credit Card Security Tied to Smartphones

MasterCard is teaming up with mobile technology company Syniverse to provide heightened credit card security through smartphones. The group is working on a program that will only allow credit cards to work when they are in close proximity to the … Continue reading

Target Profits Tumble After Breach

Even though research shows consumers are rather indifferent to the Target breach, the retail giant did experience a significant profit loss in the fourth quarter of 2013. Revenue fell 5.3% during that time, but profits were down 46%. Part of the … Continue reading

Possible Card Breach with Chicago Taxis

First American Bank is encouraging people in the Chicago area not to use debit or credit cards in Chicago taxicabs. The company has tracked down multiple cases of fraud involving customers who used their cards to pay their cab fare, … Continue reading

Tina Fey Promotes New AmEx EveryDay Card Aimed at Busy Moms

American Express is launching a new credit card aimed at busy multi-taskers that features no annual fee and a special rewards program. Rather than rewarding users based on how much they spend, EveryDay from American Express offers rewards based on … Continue reading