LowCards.com Weekly Credit Card Update–September 12, 2014

Apple Pay Could Make you Poorer The new Apple payment system has extraordinary promise. With Apple Pay, you might not need a wallet, and you can leave your credit and debit cards at home. In terms of ease and convenience, … Continue reading

Walmart to Launch EMV-Enabled Credit Card

Shoppers who use the Walmart credit card will be able to enjoy enhanced security as the store rolls out its chip-and-PIN credit cards. This is part of a significant and widespread movement in the United States projected to be completed … Continue reading

Apple’s Introduction May Lead to the End of the Plastic Credit Card

The date of September 9, 2014 may very well be the beginning of the end of the physical credit card. As we forecasted in June, there is a good chance Apple will announce a watch and/or phone on Tuesday that … Continue reading

Walmart May Request Three-Digit Security Codes for Credit Card Purchases

In an effort to enhance its credit card security, Walmart may soon require shoppers to punch in their credit card security codes when making purchases over a certain price. This process may not be as effective as the shift to … Continue reading

LowCards.com Weekly Credit Card Update–April 18, 2014

States Probing Massive Data Breach of Social Security Numbers In what could be one of the biggest data breaches in history, the federal government and authorities in several states are investigating the criminal sale of Social Security numbers, bank account … 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

Walmart Partners with MasterCard for Store Branded Credit Cards

MasterCard will be the new payment network for Walmart’s store-branded credit cards, ending the nine year partnership between Discover and Walmart. MasterCard will also handle all the transactions on the store-branded credit cards for the Sam's club subsidiary. General Electric’s … Continue reading

Walmart Sues Visa for $5 Billion over Interchange Fees

Walmart is suing Visa for $5 billion over credit card swipe fees they believe the credit card processor illegally inflated. The complaint was filed with the U.S. District Court for the Western District of Arkansas. You may remember a similar suit … Continue reading

Do You Know about Credit Card Price Matching?

Most of us are familiar with Walmart's "low price guarantee," in which Walmart matches the advertised price from another store. All you have to do is prove that the other store is offering a lower price on the exact same … 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

GE to Spin Off Credit Card Division

In an effort to minimize their financial risks, General Electric is going to create a separately traded company for its credit card division. This new company will be worth an estimated $16 billion, approximately 6% of GE's overall market value. … 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 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

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

RILA Opts Out of Interchange Fee Settlement

The Retail Industry Leaders Association (RILA) has backed out of a pact with Visa, MasterCard and other major credit card providers. The class-action settlement for $7.25 billion was designed to make up for some of the interchange or swipe fees … Continue reading

American Express Gets FDIC Insurance

American Express has recently been scrutinized for lacking FDIC insurance on its prepaid cards. The company instead chose to work through a surety program, which gave its customers different levels of protection based on the states they live in. Amex … 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

American Express, Walmart Enhance Bluebird Prepaid Card

American Express is making two major changes with the Bluebird prepaid card sold at Walmart. These cards will now be backed by the Federal Deposit Insurance Corporation. In addition, consumers will have the ability to write checks and to make … Continue reading

Target Makes Price-Matching a Permanent Policy

During the past holiday shopping season, Target instituted a policy where they matched lower prices offered by select online retailers on identical items. Yesterday, Target announced they would make this a year-round policy. If a Target shopper has proof 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

Retailers to Appeal $7.25 Billion Swipe Fee Settlement

Retailers continue to fight hard against the $7.25 billion interchange fee settlement between merchants and Visa, MasterCard and several banks. On Tuesday, ten merchants and trade groups filed notice that they will challenge the settlement of this swipe fee price-fixing … Continue reading

E-Commerce Sales Up 17.3 Percent

Sales through e-commerce were $56.99 billion in the third quarter, up from $48.59 billion a year ago, according to figures released by Census Bureau of the U.S. Department of Commerce. This 17.3 percent increase far exceeds total retail sales growth of … Continue reading

Swipe Fee Settlement Gets Preliminary Approval

Despite an outcry from retailers and trade groups, the proposed $7.25 billion settlement between merchants and Visa, MasterCard and several large banks over interchange fees took another step to becoming reality on Friday when a federal judge granted preliminary approval … Continue reading

American Express Posts 8 Percent Growth in U.S. Cards

American Express cardholders in the United States spent 8 percent more on their credit cards in the third quarter versus a year ago, according to the company's quarterly reports. Globally, American Express showed a 6 percent increase in card purchases in the third … Continue reading

Retailers Continue to Battle Credit Card Settlement

The majority of plaintiffs named in the record $6 billion class-action settlement with Visa and MasterCard are now mounting an eleventh-hour effort to block the settlement. Ten of the 19 trade groups and retailers feel the settlement leaves issuers with … Continue reading

LowCards Weekly Credit Card Update October 12

Wal-Mart and AmEx in Prepaid Card Deal Wal-Mart Stores is taking another leap into the banking world, announcing on Monday a prepaid card and debit account with American Express that will give low-income consumers access to features like smartphone deposits. … Continue reading

Stores Once Again Pushing Layaway Plans

Retailers are again promoting layaway plans in order to bring in holiday shoppers and encourage additional spending. Merchants are cutting service fees, adding more popular items, extending the layaway period, and even shipping the layaway items to your home. Layaway allows … Continue reading

American Express, Walmart Team Up on Low-Fee Prepaid Card

Walmart and American Express are joining together to enter the booming prepaid card market with a low-fee card aimed at consumers who are disillusioned or excluded by the rising costs of banking services. The card named Bluebird will be positioned as an alternative to debit and checking accounts. … 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

LowCards Weekly Credit Card Update August 17

Card Swipes in Church Make Giving Easier It hasn't always been easy for administrators and lay leaders to get people to donate regularly and increase their contributions each year, no matter their faith. Over the last decade or so, entrepreneurs have seized … Continue reading

LowCards Weekly Credit Card Update July 27

Paying With Cash? Kroger May Reward You Paper or plastic? That question could soon take on a whole new meaning at your local grocery store. Cincinnati-based Kroger, the nation's largest grocery chain, is considering offering discounts to shoppers who pay … 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