LowCards.com Weekly Credit Card Update–February 5, 2016

Don't Feel Bad, Millions Hide Bank Accounts From Their Spouses Too One in twenty people in the U.S. admit to having started secret bank accounts or credit cards without their partner's knowledge. Multiply that by the number of American adults, … Continue reading

LowCards.com Weekly Credit Card Update–January 29, 2016

Rogue App Stores Threaten Mobile Banking Security So-called rogue app stores, once a fringe element, are becoming a serious concern for banks, as subtly altered versions of popular apps are appearing more often on smartphones. These rogue apps, which are … Continue reading

LowCards.com Weekly Credit Card Update–January 22, 2016

Stolen Uber Accounts Worth More than Stolen Credit Cards Cybercriminals don't care that much about your credit card number anymore. Uber, PayPal and even Netflix accounts have become much more valuable to criminals, as evidenced by the price these stolen … Continue reading

Best Bad Credit Cards Of 2016

Having a troubled credit history does not mean that you are unable to get a credit card. In fact, having a credit card, and using it responsibly, is an important way to begin the process or rebuilding your credit. Thankfully, … Continue reading

How Long Does It Take For A Credit Card To Build Your Credit?

When you are trying to build your credit score, it can seem to take forever. The best way to increase your credit is often by using credit cards in a responsible manner. It would be nice if these cards allowed … Continue reading

LowCards.com Weekly Credit Card Update–January 8, 2016

Coin and MasterCard Want to Make Everything You Wear a Payment Device Coin has primarily been known for making one of the first "smart" credit cards that can switch between multiple cards. That hasn't worked out so well, but it … Continue reading

LowCards.com Weekly Credit Card Update–December 31, 2015

There are Officially More People Doing Their Weekly Banking via Mobile Phones Than Branches Mobile banking remains a technology in its infancy, but according to Javelin Strategy & Research, it has already eclipsed physical branches in terms of the percentage … Continue reading

LowCards.com Weekly Credit Card Update–December 11, 2015

Costco Earnings Hurt by Credit Card Switch Costco's breakup with American Express is exposing a behind-the-scenes revenue source for retailers that promote co-branded cards: finders fees. After 16 years of exclusive relationship with American Express, Costco decided earlier this year … Continue reading

RushCard Denied Request to Delay Prepaid Card Investigation

Prepaid card issuer RushCard has been under fire for over a month due to an outage of their network in mid-October. After heavy scrutiny from the Consumer Financial Protection Bureau, RushCard's parent company, UniRush, submitted a request to delay their … Continue reading

LowCards.com Weekly Credit Card Update–December 4, 2015

As Subprime Credit Cards Grow, So Do Fees There's a growing subprime threat--and it fits in your billfold. The number of subprime credit cards in circulation--those with the highest interest rates--has exploded over the last five years to where in … Continue reading

LowCards.com Weekly Credit Card Update–November 13, 2015

Apple's Tim Cook Says Cash Will be Dead for the Next Generation of Kids Apple CEO Tim Cook is making another bold prediction about money. Back in January, he forecasted that 2015 would be the year of Apple Pay (a … Continue reading

Volkswagen to Issue Prepaid Cards to Diesel Owners

In an effort to make amends for its so called "diesel scandal," Volkswagen is sending out $1,000 worth of prepaid cards to diesel vehicle owners. There are two prepaid cards that will be available to owners of the 2.0-liter, four-cylinder turbodiesel … Continue reading

LowCards.com Weekly Credit Card Update–November 6, 2015

How Your Voice Can Protect You from Credit Card Fraud That call to your bank is being recorded for more than just "quality assurance purposes." Some banks are using voice biometrics and other technology to help determine who is calling … Continue reading

RushCard to Compensate PrePaid Debit Card Users for Outage

On October 29, RushCard announced it is creating a "multi-million dollar" fund to cover the costs that its prepaid debit card customers incurred after their cards stopped working in mid-October. When RushCard moved to a new payment processor on October 12, technical problems … Continue reading

LowCards.com Weekly Credit Card Update–October 30, 2015

Walmart Exec Predicts New Credit Card Chip Technology Will Cause Black Friday 'Anarchy' A Walmart executive is predicting "anarchy" this holiday shopping season due to new rules in place requiring retailers to accept chip-embedded credit cards from consumers. The exec … Continue reading

LowCards.com Weekly Credit Card Update–October 23, 2015

Will Retail Shops be the New Bank Branches? There are a variety of visions for what the bank of the future should be—a coffee shop, a digital destination accessible mainly from a smartphone—but for the good folks over at Number26, … Continue reading

RushCard Glitch Leaves Thousands without Access to Their Money

A popular line of prepaid debit cards from Russell Simmons recently experienced a technical glitch that left thousands without access to the funds in their accounts. The breakdown of the RushCard line, mostly used by unbanked Americans, has caused many … Continue reading

Louisiana Ends Tax Refunds on Prepaid Debit Cards

As of last week, taxpayers in Louisiana can no longer receive their tax refunds on prepaid debit cards. Refunds will still be available through check and direct deposit, but the prepaid program, known as Louisiana MyRefund Prepaid Debit Cards, is officially over. … Continue reading

LowCards.com Weekly Credit Card Update–October 2, 2015

Ready or Not, it's Credit Card Chip and Dip Time Thursday marks a milestone in the effort to shift the U.S. to the use of microchip-embedded credit cards, a more secure alternative to traditional cards that require the swipe of … Continue reading

LowCards.com Weekly Credit Card Update–August 21, 2015

Mobile Banking Usage to Double in Four Years Mobile banking usage throughout the world is expected to double in less than four years, according to a new study from KPMG and UBS. In 2014, the number of mobile banking users … Continue reading

American Express Now Offers Serve Cash Back Prepaid Card

Prepaid cards are enjoying a significant upsurge in America, and American Express is trying to capitalize on this trend. Today, American Express expanded its line of Serve prepaid cards by introducing the Serve Cash Back card, the first prepaid debit … Continue reading

Prepaid Mobile NFC Payments to be Introduced

Prepaid card provider InComm and digital security firm Gemalto plan to team up to provide NFC enabled prepaid cards in the near future. The partnership will allow prepaid cards to work through mobile technology to create a contactless payment solution, … Continue reading

1 in 4 Say Banks Put Corporate Needs Ahead of their Customers

Consumers are starting to become less loyal and less engaged with their banks, according to new information from GfK and Personetics. Only 31% of bank customers reported their banks understood their financial needs, and 28% said banks put their own … Continue reading

Reloadable Prepaid Card Use on the Rise

A new study shows a significant increase in the use of prepaid cards among both banked and unbanked Americans. According to the Pew Charitable Trusts research entitled "Banking on Prepaid", use of these general purpose reloadable (GPR) cards has increased … Continue reading

J.P. Morgan Launches New Prepaid Services

Today, J.P. Morgan Chase is announcing significant changes to its prepaid card program, according to The Wall Street Journal. The new system, under an agreement with New York Attorney General Eric Schneiderman, will provide online bill pay services and person-to-person … Continue reading

LowCards.com Weekly Credit Card Update–July 2, 2015

The Postal Service Wants You to Bank at Your Post Office Elizabeth Warren would like to change the way you bank. The Massachusetts Senator and consumer advocate firebrand may not be running for president. But her backing of the U.S. … Continue reading

Chevron and Texaco Launch Xponent Prepaid Gas Rewards Card

Chevron and Texaco have partnered to provide a new prepaid rewards card for fuel purchases. Known as the Xponent Rewards Card, this new opportunity gives consumers a chance to earn a discount on fuel just by spending money on everyday gas … Continue reading

MasterCard is First International Payments Network in Somalia

MasterCard has become the first international payments network in Somalia, thanks to a partnership with Premier Bank. The bank will issue a co-branded payments card and provide ATM services in Somalia, with prepaid cards and point of sale terminals to … Continue reading

CashPass Launches Mobile Platform for Visa Prepaid Cards

CashPass Prepaid Visa users can now control their prepaid accounts on the go, thanks to the new app which will be introduced. The app will run on the Select Mobile Money platform, designed specifically for prepaid cards. CashPass calls itself the … Continue reading

BitStamp Launches Bitcoin Debit Card in Europe

The European Bitcoin platform BitStamp has launched a prepaid debit card that can be used anywhere major credit or debit cards are accepted. The Bitcoins loaded onto the card can be converted to Euros, British pounds or American dollars for … Continue reading

LowCards.com Weekly Credit Card Update–May 29, 2015

As Chip Cards Become Norm, Other Fraud Targets Rise Studies show a climb in the number of "digital shoppers" in the U.S. every year from 2010 with growth expected to continue. But as more buy online, security experts say "Card … Continue reading

Top 5 Cards For Bad Credit With No Deposit

Do you have bad credit? Then you know it is very hard to qualify for a credit card that is not a secured card which requires a deposit. But at the same time, being approved for a credit card is … Continue reading

Proposed Rule Limits Fees on Student Federal Aid Cards

The U.S. Department of Education is stepping in to prevent colleges from pushing students into receiving federal aid on costly prepaid debit cards. The Office of Postsecondary Education issued a notice of proposed rulemaking that could cost colleges millions of … Continue reading

Visa Clear Sets Standards for Consumer-Friendly Prepaid Cards

Visa has created a new program is designed to eliminate the confusing, and often costly, fees associated with most prepaid debit cards. Known as the Visa Clear Prepaid Program, this system creates a stringent set of standards that prepaid cards … Continue reading

J.G. Wentworth to Enter Prepaid Card Market

The J.G. Wentworth Company, a structured settlement payments firm, has announced it will be partnering with FIS and MetaBank to establish a new prepaid debit card for its customers. FIS will act as the processor for the prepaid card, with … Continue reading

Millennials Turn to Prepaid Cards for Budgeting

Millennials are looking to new ways to keep to their budget and avoid debt. According to a new survey from TD Bank, this generation is more likely to give themselves an allowance or hide cash to avoid overspending. In addition, … Continue reading

Green Dot Chooses MasterCard as Transaction Processor

Popular prepaid card issuer Green Dot has announced it will be using MasterCard as its exclusive transaction processor by the second half of 2016. MasterCard will back all of the company's products, including bank debit cards. Green Dot selected MasterCard as … Continue reading

Prepaid ‘Release Cards’ Given to Prisoners Charge High Fees

Recently released inmates are being financially penalized due to a loophole in the rules that exempts prison prepaid cards from standard debit card regulations. This takes away from the already limited amount of money former prisoners receive from family contributions … Continue reading

U.S. Money Card Launches Mobile App for Prepaid Services

Consumers who like the U.S. Money Prepaid Card now have a new way to manage their money, thanks to the launch of U.S. Money Prepaid Mobile last week. The app allows users to review their account histories, transfer money from card … Continue reading

LowCards.com Weekly Credit Card Update–April 10, 2015

Walmart Exec: New Credit Card Design Won't Solve Fraud There's been some hope that improved credit card technology might finally lead to greater security and a reduction of credit card fraud. One idea has been credit cards with embedded chips, … Continue reading

Bento for Business Launches Prepaid Commercial MasterCard

Small business financial provider Bento for Business has launched a new commercial prepaid card, giving business owners an easier way to allow employees to make purchases for the company. The prepaid card is backed by MasterCard. Some small businesses do … Continue reading

LowCards.com Weekly Credit Card Update–March 27, 2015

Google Working on Project to Let You Receive and Pay Bills Directly Inside Gmail Google's mission to organize the world's information is now targeting your physical mailbox. The company is currently working on a project that will allow Gmail users … Continue reading

Prepaid Card Group Asks CFPB to Restructure Broad Card Restrictions

The Network Branded Prepaid Card Association (NBPCA) has asked the Consumer Financial Protection Bureau (CFPB) to reconsider its final ruling over new laws that could harm the prepaid card industry. The Association believes the Bureau's broad restrictions on prepaid cards … Continue reading

Visa ReadyLink Now Reloadable at Walmart

Visa ReadyLink users now have a new and convenient way to add funds to their accounts. Point-of-sale provider InComm announced last week that the company has integrated Visa ReadyLink technology into Walmart's Rapid Reload network, allowing users to deposit funds to … Continue reading

Santander Enters Prepaid Card Market

Santander, a bank known for its subprime lending opportunities, is taking on a new role in the financial world. The Spanish banking giant is branching out in Brazil by taking over 50% of Super, a digital service provider offering online … Continue reading

T-Mobile Offers Tax Filing Bonus for Prepaid Card Customers

T-Mobile recently announced a new opportunity for prepaid cardholders to earn money by depositing their tax refunds onto their T-Mobile Visa Prepaid Cards. T-Mobile CEO John Legere made the announcement on his Twitter page to encourage cardholders to put extra … Continue reading

College Credit Card Agreements Decline As More Debit Card Deals Emerge

The Consumer Federal Protection Bureau recently reported a nearly 70% decline in college credit card agreements since Congress established regulations for disclosures in 2009. Educational institutions are now forced to be completely transparent when offering credit cards to students, and it seems … Continue reading

LowCards.com Weekly Credit Card Update–December 19, 2014

Apple Pay Grows to Support 90% of U.S. Credit Cards Apple Pay has been adding support for more credit cards in the United States since the service launched. By transaction volume, the service now supports 90% of the credit cards … Continue reading

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

New Consumer Protections for Prepaid Cards The Consumer Financial Protection Bureau is extending many of the financial protections of bank accounts to prepaid cards. New rules proposed Thursday by the federal regulator would require that prepaid card users be protected … Continue reading