21 Cent Swipe Fee Cap Remains after Appeal

Last Friday, a federal appeals court upheld the Federal Reserve's 21-cent cap on swipe fees that banks are allowed to charge merchants on debit card transactions. In 2011, Congress asked the central bank to establish a "reasonable" cap for interchange … 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

LowCards.com Weekly Credit Card Update–January 10, 2014

Target: Up to 70 Million More Customers Were Hit by December Data Breach Target said Friday that the massive cyber attack it suffered during the height of the holiday shopping season may have affected an additional 70 million customers and … Continue reading

Retail Group Appeals Swipe Fee Settlement

After a federal judge approved the $5.7 billion settlement over interchange fees between credit card companies and retailers, the National Retail Federation has filed an appeal, claiming that the current settlement is "flawed." "The settlement does nothing to reform 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–November 27, 2013

'Rachel' Robocallers Reach Settlement with the FTC Two more people and four companies have agreed to settle charges in the "Rachel robocall" scheme, according to the Federal Trade Commission. The Rachel scam, which used other names as well, called people, … Continue reading

10 Credit Card Tips to Better Manage Holiday Spending

We are approaching one of the biggest shopping weekends of the year. Nearly 140 million people plan to shop over the four-day Thanksgiving weekend according to the National Retail Federation. Last year, the average shopper spent $423 over the Thanksgiving … Continue reading

LowCards.com Weekly Credit Card Update–November 22, 2013

Retailers Use Deals to Get You Connected Head into the mall this holiday season, and you won't just be bombarded by 50% off signs or two-for-one deals. Once you hit the cash register, someone is bound to tempt you with … Continue reading

Save on Holiday Shopping Using Credit Card Rewards

The holidays are here, and soon consumers will be hitting the malls and emptying their wallets. Last year, consumers spent an average of $786 on holiday gifts. According to the National Retail Federation’s holiday spending survey, nearly 75% of the … Continue reading

Final Hearing Today on Swipe Fee Battle

The eight-year legal battle over interchange fees will culminate in a final hearing today in a Brooklyn federal court. U.S. District Judge John Gleeson will hear arguments on whether to give final approval to what is believed to be the … Continue reading

LowCards.com Weekly Credit Card Update–May 24, 2013

What's In Millennial's Wallet? Fewer Credit Cards Millennials are more financially cautious than the stereotype of the spendthrift twenty-something. Some experts say their habits echo those of another generation, those who came of age during the Great Depression and forged … Continue reading

Major Retailers Formally Oppose Swipe Fee Settlement

The National Retail Federation and 19 large retailers, including WalMart, Costco, Gap, Lowe's, Nike and Starbucks are choosing not to participate in the pending $7.2 billion class-action settlement with Visa and MasterCard over interchange fees. These retailers will be forfeiting … Continue reading

LowCards.com Weekly Credit Card Update–March 29, 2013

What You Need to Know About Credit Card Processing Here is a series of posts about a search for an honest and affordable processor of credit card transactions. My own search began when I was tipped off that I was … Continue reading

Internet Sales Tax Gains Support in Senate

One of online retailing's big advantages could be dealt a serious blow in the future. On Friday, the Senate passed a nonbinding amendment which would allow states to collect sales tax from out-of-state online retailers. The amendment was part of … Continue reading

Top Credit Card Stories of the Year

2012 was a relatively quiet year for the credit card industry. However, there were a number of developments that may have a far-reaching impact in the years to come. Here are the top ten credit card stories of 2012: Swipe … Continue reading

Holiday Spending Statistics

Holiday shoppers are frantically running around, picking up last-minute gifts for their friends and family. Consumers spend a great deal of money trying to meet the needs of their loved ones. To see how much we spend, take a look … Continue reading

Tips for Buying and Using Gift Cards

Buying gift cards this holiday season is even easier with the growing availability of virtual gift cards. Ordering is done online, and an email is sent to the recipient with the details needed to claim the gift. Gift cards continue … Continue reading

Using Your Credit Card to Maximize Holiday Shopping

Now that November has arrived, shoppers and retailers are both turning their attention to the holiday season. Consumers will spend an average of $749.51 on their holiday shopping, up 1.2 percent from the $740.57 spent last year, according to the … Continue reading

Tablet & Smartphones to Play Big Role in Holiday Shopping

Tablets and smartphones will be a very big part in this year's holiday shopping experience for both consumers and retailers. A recent Holiday Spending Survey by the National Retail Federation  showed that consumers will use these devices for a variety … Continue reading

Retailers Have Reason to Celebrate Swipe Fee Anniversary

It has been exactly one year since the debit card swipe fee regulations reduced the interchange fee that merchants paid to banks and card processors. Retailers and merchants appear to be the big winners from this reduced fee that resulted … Continue reading

Restaurants Join Growing Opposition to Swipe Fee Settlement

Another major trade association has come out against the $7.25 billion settlement between some retailers and Visa and MasterCard over the interchange fees on credit card transactions. Today, the National Restaurant Association announced that it is opposing this settlement because … Continue reading

Retail Trade Group Opposes Swipe Fee Settlement

The opposition continues to grow to the $7.25 billion settlement on credit card interchange fees that Visa, MasterCard and other banks agreed to pay. Yesterday, the National Retail Federation announced that it received approval from its board to go to … Continue reading

Major Retailers Oppose Swipe Fee Settlement

Many analysts considered the $7.25 billion credit card interchange fee settlement to be a significant victory for retailers. But the world's two largest retailers, Walmart and Target, have both come out against the proposed settlement. They join the National Association … Continue reading