LowCards.com Weekly Credit Card Update–August 15, 2014

Debt Collectors, What are Their Legal Limits? Collectors call again and again in the middle of dinner. They call the wrong person. They threaten. They take advantage of the latest technology to embarrass people. Often, they violate the law. Debt … 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

Credit Card Payments May Take on New Role in Credit Scores

The country's three biggest credit bureaus may eventually change the way they calculate credit scores. The new system could be designed to give "transactors" better scores than "revolvers" for their credit card payments because those individuals have proven themselves to … Continue reading

LowCards.com Weekly Credit Card Update–June 6, 2014

Debt Collectors Have Figured Out a Way to Seize Your Wages and SavingsPeople with overdue bills have long complained of harassment from debt collectors, from late-night phone calls to frightening in-person visits. Now it appears the industry has found far … 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

Top 5 Airline Credit Cards of 2014

If you are a regular traveler, then you want to take advantage of the perks that come with having a top airline credit card. These cards give you an opportunity to receive some benefits on purchases you already make while … Continue reading

New Law Protects Children from Identity Theft

Wisconsin took a major step in curbing identity theft with a new law that protect children's identities. Known as the Wisconsin Child Credit Protection Act, this law is designed to make sure that a child's information cannot be used to … Continue reading

LowCards.com Weekly Credit Card Update–April 25, 2014

Michaels Confirms Data Breach Affecting 2.6 Million Credit Cards Three months after craft retailer Michaels announced it may have been the victim of a data breach, the company confirms the worst: nearly 2.6 million consumers' credit cards are affected. In … 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

CFPB Urges Card Companies to Provide Free Credit Scores

The Consumer Federal Protection Bureau is urging credit card issuers to provide free credit scores for their customers. Doing so would allow consumers across the country to better track the health of their credit. Some issuers, such as Discover, Barclay and … Continue reading

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

Hotel Company Investigates Data Breach, Card Fraud White Lodging Services, a hospitality company that manages 168 hotels in 21 states--under franchises from Hilton, Marriott, Sheraton, and Westin—is investigating reports that it suffered a data breach that lasted from March 2013 … Continue reading

Millennials Cutting Back on Credit Cards, But Struggle with Credit Scores

Millennials are carrying far fewer credit cards with smaller balances than older consumers but are still struggling with their credit scores and debt utilization. Experian’s Fourth Annual State of Credit analyzed the credit card habits of four generations: Millennials (19-29), … Continue reading

Three Common Credit Myths on Joint Accounts

When couples get engaged, they make the decision to spend the rest of their lives together. They immediately face a number of decisions. Where will we live? When will we get married? Should we merge our finances? One of the … Continue reading

LowCards.com Weekly Credit Card Update–January 3, 2014

Six Credit Card Trends to Watch in 2014 During and immediately after the financial crisis, credit card issuers tightened up lending standards and lowered credit limits to protect themselves. "They had given credit to too many people and approved people … Continue reading

Psychometric Test Brings Credit Scores to Undeveloped Countries

In America, a credit score assesses a person's ability to pay back a loan. We have numerous factors and databases that go into making this score, but other countries aren't as fortunate. As a result, a new test has emerged … Continue reading

Three Credit Card Issuers Now Offer Free Credit Scores

Three major credit card companies--Discover, First Bankcard and Barclaycard US--will now enable their cardholders to see their credit scores for free once a month. These consumers will see their FICO credit score, the most widely-used credit scoring formula. This will affect … Continue reading

Discover Providing Free Credit Scores to Cardholders

Discover announced today that cardholders will receive free FICO credit scores on their monthly credit card statements. Discover becomes the first credit card issuer to provide FICO a credit score free of charge to their customers on monthly statements. In addition, cardholders … Continue reading

One-Third of Americans Have Never Checked Their Credit Score

A new study from TransUnion reveals that a staggering 32.7% of Americans have never checked their credit scores or credit reports. An additional 24.6% of those surveyed said they had not checked their credit score or credit report within the … Continue reading

Experian Improves Credit Educator Program

The Credit Educator program at Experian was originally developed to give people a chance to improve their credit scores through guided, professional assistance. The program has been around for some time, but has recently been upgraded to give customers more for … Continue reading

Credit Cards After Bankruptcy

Filing bankruptcy is a tough decision, and for most, it is the absolute last resort. Nevertheless, it is the only way that some people can escape bad financial decisions from the past. No matter what led you to file, you … Continue reading

LowCards.com Weekly Credit Card Update–August 30, 2013

Facebook Friends Could Change Your Credit Score Choose your Facebook friends wisely; they could help you get approved--or rejected--for a loan. A handful of tech startups are using social data to determine the risk of lending to people who have … Continue reading

LowCards.com Weekly Credit Card Update–August 16, 2013

Judge is Open to Repayment of Swipe Fees A federal judge threatened to further crimp a once-lucrative profit center for banks and credit card companies, saying they may need to reimburse retailers billions of dollars in debit card transaction fees … Continue reading

Perfect U.K. Credit Score Could Lead to Credit Card Rejection

We all strive for the excellent credit score, something into the high 700s that we feel will get us any loan that we want. According to new research though, having that perfect credit history in the United Kingdom may actually … Continue reading

How Do Credit Cards Help Build Credit?

Most people associate credit cards with debt, forgetting that they have the word "credit" in their name. Believe it or not, you can build credit by using credit cards if you use them properly. The reason most cardholders fall into … Continue reading

LowCards.com Weekly Credit Card Update–May 31, 2013

Why Business Credit Card Holders Should Be Wary A majority of small business owners know their personal and business finances are connected. If they apply for a small business loan, the bank will likely need their personal credit score. Miss … Continue reading

Women Better at Handling Credit

Women may earn less than men but they are better managers of credit. According to a new report from Experian, women earn 23 percent less than men, but men have 4.3 percent more debt than women. Women also have a slightly … Continue reading

LowCards.com Weekly Credit Card Update–May 10, 2013

Credit Card Companies Battle in China The Ms. Magic credit card from China Citic Bank is dotted with crystals and offers free beauty treatments and health insurance. Huaxia Bank's Pretty Lady card entices women with triple points for cosmetic purchases … Continue reading

Good Credit Leads to Cheaper Credit Cards

A recent report underscores that good credit may save consumers significant money on their credit cards. The average interest rate for people with good credit went down 1.69% from the fourth quarter 2012, but the rates for those with average … Continue reading

Changes Made in VantageScore Credit Scoring Model

The VantageScore credit scoring model has undergone some improvements, giving lenders a reported 25 percent improvement on the ability to make predictions on consumers. The new VantageScore 3.0 model also has the ability to formulate a score for the estimated … Continue reading

LowCards.com Weekly Credit Card Update–February 15, 2013

N.J. Calls Off Credit Card Pitches to Students at Public Colleges Companies that issue credit cards can no longer market them to students at New Jersey public colleges under a law Gov. Christie signed Thursday. The new law prohibits public … Continue reading

Areas with Worst Credit Scores All Found in the South

TransUnion has released its ranking of metropolitan areas with the highest and lowest consumer credit score in the country. Two areas in northern California--San Jose-Sunnyvale-Santa Clara (700) and San Francisco-Oakland-Freemont (696)--have the highest scores. Memphis is the area with the lowest … Continue reading

10 Common Credit Card Mistakes (And How To Avoid Them)

We have all made financial mistakes at some point. When it comes to credit cards, there are a significant number of pitfalls that any consumer can make. To help you avoid these, we have compiled a list of the 10 most common credit … Continue reading

LowCards.com Weekly Credit Card Update December 7

Credit Card Penalty Payments are Arriving More than $425 million in refunds and restitution will soon be sent to millions of consumers nationwide, penalties paid for deceptive credit card practices. And another $410 million--from Bank of America--is already landing in … Continue reading

Is It Smart To Open A Store Credit Card On Black Friday?

Black Friday has become known for terrific sales to kick off the holiday shopping season. If you visit some stores this Black Friday, a store clerk will likely ask you, "Would you like to save X% by opening a credit card account?" Typically, stores offer … Continue reading

CFPB Finds Differences in Credit Scores

The credit score you purchase from a credit reporting agency may be very different from the score your lender sees. Lender's scoring models place  nearly one in five consumers in different credit categories, according to a new report by the Consumer … Continue reading

Consumers Taking Slightly Better Care of Their Finances

Economic growth and job growth are in a painfully slow recovery, but a new study shows that consumers are taking slightly better care of their finances. Experian's third annual State of Credit Report shows the average VantageScore across the nation increased from … Continue reading

LowCards Weekly Credit Card Update September 14

  Hidden Good News on Credit Cards In a sign that consumers are getting back on their feet, new data shows that credit card debts are shrinking. Dig deeper into the fine print and there's better news: fewer credit card … Continue reading

LowCards Weekly Credit Card Update August 10

U.S. Consumers Cut Back on Credit Card Use in June Americans cut back on credit card use in June, a sign that high unemployment and slow growth have made some more cautious about spending. Still, total consumer borrowing increased as … Continue reading

Financial Tips For Students Going Off to College

It is almost time for high school graduates to go off to college, moving away home for the first time. As parents give last-minute lessons about independence, money management should be an important part of these discussions. It is critical … Continue reading

LowCards Weekly Credit Card Update July 20

U.S. Consumer Agency to Supervise Credit Reporting Companies The U.S. consumer watchdog agency said it will start closely supervising credit reporting companies in September, bringing the industry under strict federal supervision for the first time. The Consumer Financial Protection Bureau, … Continue reading