LowCards.com Weekly Credit Card Update–October 24, 2014

Staples Investigates Reports of Possible Credit Card Data Breach The world's biggest office-supply retailer is investigating reports of a possible data breach of Staples customers' credit cards after banks detected a pattern of unusual charges concentrating on a group of … Continue reading

Citibank to Provide Free Credit Scores to Cardholders

Citibank will become the largest credit card issuer to provide free credit scores to their credit card customers. The bank will begin providing these scores on a monthly basis beginning in January. The scores will only be available online. Citi … Continue reading

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

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

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 28, 2014

Financial, Retail Industries Keep Cybersecurity Mistakes and Punishments Secret Even as cyberthreats grow in frequency and sophistication, the system for ensuring payment card security in the United States remains a closely guarded arrangement among the credit card networks who set … Continue reading

Are Free Credit Scores from Credit Card Issuers Valid?

Barclaycard and First Bankcard were the first credit card issuers to offer their cardholders free credit scores. These issuers enable their customers to check their FICO credit score at any time through their online accounts. Now, Discover is heavily promoting 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

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

LowCards.com Weekly Credit Card Update–November 8, 2013

MasterCard 3rd-Quarter Net Rises 14% on Increased Purchases MasterCard said third-quarter earnings rose 14% as spending on its credit and debit cards continued to grow. MasterCard, like its larger rival Visa, operates a payments network that processes transactions made on … Continue reading

The History of the Credit Card

Technology, innovation and social media are bringing changes to credit card payments. Consumers have been slow to adapt to these changes, but that should not come as a shock. History shows that methods of payment change and evolve slowly. Until … Continue reading

Are You Buying Your Real Credit Score?

Credit scores are how lenders, and even some insurers and employers, judge consumers. For a number that carries such influence, there are many grey areas that can create problems and confusion for consumers. The July 2013 issue of Consumer Reports calls … Continue reading

Credit Card Balances Predicted to Increase

The majority of bankers in a recent survey expect the average credit card balance to increase over the next six months but only about a quarter of them predict that delinquencies will increase. These are the results of the latest … Continue reading

Infoglide Finds New Home with FICO

The Fair Isaac Corporation, better known as FICO, recently acquired Infoglide of Austin. Infoglide is a software company that specializes in fraud detection for businesses and government agencies. Its client list includes members of the banking, healthcare, insurance, and retail … 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

Alarming Number of Student Loans Are Delinquent

For the second time this week, a study by a credit agency shows delinquency rates on student loans are climbing. According to a TransUnion study, more than half of student loans are in deferred status where the loan payment has been … Continue reading

LowCards.com Weekly Credit Card Update November 21

Mobile Apps Aim to Steer Consumer Credit Card Choices There are two new mobile apps which help cardholders select the best credit card to use at checkout. Wallaby Financial released a free app that helps iPhone users determine which card … Continue reading

How Your Credit Score is Calculated

They may be three simple digits but your credit score is the probably most important number in determining your financial future. Your credit score is both a representation of your payment history and a prediction of your ability to make … 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