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

Negligent Healthcare Practices Put Your Identity at Risk

A new study indicates an astounding 43 percent of identity theft cases in 2013 were the result of medical identity theft. This occurs when criminals gain access to your medical files and use information to open accounts and make purchases. The … Continue reading

Your Child’s ID is a Big Target for Identity Thieves

Child identity theft can be a bigger problem than other forms of identity theft because it can go unnoticed for years. A recent Carnegie Mellon study found that 10.2% of children under the age of 18 had someone else using their Social … 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

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

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

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

Marijuana Scent Leads Police to Credit Card Thieves

Police officers in Murfreesboro, Tennessee were undergoing a fairly common investigation as they followed the scent of marijuana coming from a Select Inn motel room. But what they found in the motel room was a little bit more than they … Continue reading

Consumers Can Mask Credit Card Numbers with New App

A new app on the market known as Do Not Track Me allows cardholders to mask their credit card numbers when paying at the checkout counter. Doing so may effectively limit identity theft by blocking important information about an account. The … Continue reading

Credit Card Thief Tries to Eat the Evidence

A hotel receptionist in Manchester, England was recently convicted of selling his customers' credit card information after a police officer found him trying to eat the evidence. The officer noticed the man and thought he was trying to swallow drugs. … Continue reading

Identity Fraud Continues to Skyrocket

Identity theft is happening all the time--literally. A new report by Javelin Strategy & Research shows that there was a new identity fraud victim nearly every two seconds in 2013. Last year, there were an estimated 13.1 million victims of identity … 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

Change Your PIN after Data Breach

The PIN on your debit card is your personal identification number. It is essentially a password to your account that only you should know. If you feel the personal information on your debit card account has been stolen or compromised, … Continue reading

Top 10 Signs of Identity Theft

Recent security breaches at Target, Skype and Snapchat show that identity theft has become a major problem in our society. Unfortunately, personal information, email, credit cards and bank accounts are not as private and protected as we think. It is … Continue reading

Wichcraft Sandwich Shop Finally Reveals Credit Card Hack

The sandwich shop "wichcraft" announced last week that a credit card breach occurred in its stores during the August to October time period--and no one knew anything about it. Wichcraft has several locations throughout the country, but the ones that were … Continue reading

Datacard Group Brings Chip and PIN to America

Chip and PIN technology is used to provide credit card security in European countries. It is one of the main reasons identity theft is much lower than it is in America where the magnetic strip is used on credit cards. … Continue reading

Green Dot Prepaid Card Scams on the Rise

Green Dot prepaid cards have become a new target for scammers, who are tricking customers into sharing information about these cards on the phone or online. Green Dot MoneyPak cardholders are issued a PIN just like normal debit cards, and … 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

How Banks Are Responding to Massive Target Breach

The security breach that took place in Target stores during the peak holiday shopping season hurt more than the giant retailer. It created substantial headaches for the banks and issuers behind the 40 million accounts with additional costs of fraud … 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

Are Credit Cards Safer than Debit Cards?

With the new year approaching, some consumers make a resolution to cut up their credit cards and use only their debit cards. While doing this will enable you to just spend the money you have, you need to consider the … 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

LowCards.com Weekly Credit Card Update–December 20, 2013

Target Says 40 Million Credit, Debit Cards May Have Been Compromised in Security Breach Target said Thursday that credit and debit card account information for 40 million of its customers may have been stolen during the height of the holiday … Continue reading

40 Million Card Accounts Affected by Security Breach at Target

A new data breach at almost all Target stores across the country could be one of the largest data breaches in history. The breach may have affected as many as 40 million people who used their credit or debit cards … Continue reading

Data Breach May Affect 465,000 Chase Cardholders

A recent hack of JPMorgan Chase's computer services may have exposed personal information for individuals who received their tax refunds, child support and unemployment benefits on prepaid cash cards this year. Chase oversees the debit card program for several New England … Continue reading

LowCards.com Weekly Credit Card Update–December 6, 2013

Why You Should Use A Masked Credit Card To Shop Online Whenever you buy something with a credit card online, you also have to provide your name, number and address, information seen by the processing banks as well as the … Continue reading

LowCards.com Weekly Credit Card Update–November 1, 2013

Slithering Theater Thief Gets 16 Years in Connecticut A Philadelphia man who authorities say crawled along movie theater floors to steal credit cards from women's purses has been sentenced in federal court in Connecticut to 16 years in prison. Prosecutors … Continue reading

Thieves Steal Credit Card from Car at Church to Buy $1,100 Puppy

Two credit card thieves in Montgomery, Alabama were filmed stealing an elderly woman's credit card from a car in a church parking lot and then using it to buy an $1,100 puppy from a local pet store. In addition to the expensive … Continue reading

Consumers Still Not Protecting Their Identity

Experian's ProtectMyID released a study last week in honor of national identity theft protection week. It showed that consumers are still vulnerable to ID theft both online and offline, and most of them are not doing enough to protect themselves. … Continue reading

Phantom Banks Operate Credit Card Scam out of Mailboxes

Two ghost banks in Ft. Lauderdale, Florida have been operating credit card scams using mailboxes located at a local storage facility. The banks, working under the names of AmTrade International Bank and Freedom 1st National Bank, have sent out numerous letters … Continue reading

Avoid Getting “Tricked” for Your Money on Halloween

It's trick-or-treat time, and the Consumer Financial Protection Bureau is using Halloween to warn consumers about the tricks scammers use to steal their money. The CFPB reports that 25.6 million adults, or 10.8 percent of the U.S. adult population, were victims of financial fraud in … Continue reading

Fake Facebook Site Steals Credit Card Info

Social networking sites should not need your credit card information since they are free to use. Facebook has put a slight glitch in that system with their autofill option, allowing users to upload credit card info to fill in automatically … Continue reading

Fake Sallie Mae Sites Steal Identities

Thieves try to take advantage of unsuspecting consumers every day, and the government shutdown presents them with yet another opportunity. Fraudulent Instagram accounts for the student loan giant Sallie Mae are being created, offering enticing incentives to consumers who carry student … Continue reading

Aluminum Foil Used in Credit Card Fraud

Of all the ways we use aluminum foil, you'd never expect someone to turn it into a tool for credit card fraud. Nevertheless, some criminals in Kansas City have discovered that covering satellites with aluminum foil can help them spend … Continue reading

LowCards.com Weekly Credit Card Update–October 4, 2013

CFPB Targets Banks' Campus Deals The Consumer Financial Protection Bureau is concerned that deals between banks and colleges steer students toward checking accounts and debit cards that come with high fees or other costs. Schools and the banks say any fees and other … Continue reading

Credit Card Thieves Now Targeting Gas Pumps

Credit card skimming is certainly not a new concept, but identity thieves are using this mechanism in a new way these days. In addition to using these devices with restaurants or ATMs, they are now installing them on gas pumps. Credit … Continue reading

iPhone 5S Turns Fingerprints into Credit Cards

There are a variety of new features that have come with Apple's latest development, the iPhone 5S. Perhaps the most remarkable feature is a fingerprint scanner known as Touch ID. Touch ID is designed to replace the need for four … Continue reading

“False Positives” for Credit Card Fraud

Ever get up to the checkout counter and swipe your credit card, only to have it declined for no reason? You know the card is good and you are well under your credit limit, but the credit card company is … Continue reading

Bank Customers Troubled by Security Breaches

With the number of online banking frauds that have occurred over the last few years, it's no wonder that most people are at least somewhat concerned about the security of their accounts online. According to a recent poll from Entersekt, 85% … Continue reading

Stolen European Cards More Valuable on Black Market than U.S. Cards

Two weeks ago, a federal indictment charged five gang members with stealing more than 160 million credit card numbers from around the world during the past seven years, resulting in hundreds of millions of dollars in losses. The four Russian … Continue reading

France Tests Pay-By-Fingerprint Technology

France is in the early trials of fingerprint payment technology, which uses the lines in a person's fingerprint to verify his or her identity. The trial includes 900 shoppers at supermarket store Auchan and DIY store Leroy Merlin. It has … Continue reading

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

Why Stolen European Credit Cards Cost Five Times as Much as U.S. Ones European hackers accused of selling stolen data only collected about $10 for each stolen American credit card number, according to an indictment from federal prosecutors. But European cards … Continue reading

LowCards.com Weekly Credit Card Update–July 26, 2013

New Ruling on Credit Card Regulations Could Mean Big Changes at the Cash Register in Canada A ruling expected this week on a complaint against Visa and MasterCard could significantly change how consumers use credit cards in Canada. Striking down the … Continue reading

Top Ways Credit Cards Are Stolen

Not too long ago, the only way someone could steal your credit card was if he came up to you and took it from your wallet. Now, there are countless techniques on stealing your credit card information, even if you … Continue reading

LowCards.com Weekly Credit Card Update–July 19, 2013

Wells Fargo Eyes a Credit Card Push Wells Fargo has the most retail banking branches in the country, and makes the most mortgages, small business loans, commercial real estate loans and auto loans, but it is small in credit cards. … Continue reading