Wells Fargo Continues Credit Card Push

For the past year, Wells Fargo CEO John Stumpf has had a major corporate directive for his bank to capture a greater share of the credit card market. Wells Fargo took another step toward this goal by entering into a credit … Continue reading

LowCards.com Weekly Credit Card Update–January 17, 2014

Millions Getting New Debit, Credit Cards After Target Hack Millions of consumers are being sent new credit and debit cards in the wake of the recent security breach that hit as many as 110 million Target customers. JPMorgan Chase announced … Continue reading

U.S Bank to Begin Issuing American Express Credit Cards

U.S. Bank announced today that it will begin offering credit cards accepted on the American Express network in the fall of 2014. The cards will be available to bank customers in the 3,088 branches of U.S. Bank, as well as … Continue reading

Credit Card Companies Ban Online Betting

Credit card companies are beginning to block online gambling charges, just as web-based casinos are becoming legal in the United States. Delaware and Nevada currently allow internet gambling in their borders, and officials in New Jersey are discussing the subject. … Continue reading

Credit Union Credit Cards Threaten Big Banks

A greater number of local credit unions across the United States are starting to issue credit cards to their members. Some of these have been more successful than others, but the growth of this phenomenon is creating competition for big … Continue reading

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

CFPB's Data Mining of Credit Card Data Challenged in Heated House Hearing Consumer Financial Protection Bureau officials are seeking to monitor four out of every five U.S. consumer credit card transactions this year--up to 42 billion transactions--through a controversial data-mining … Continue reading

Big Banks Look to Credit Cards for Growth

As the number of people refinancing loans continues to decline, big banks like US Bank and Wells Fargo are relying on credit cards to bolster their profits. Wells Fargo already announced a push on credit cards a few weeks ago, and … Continue reading

New Wells Fargo Credit Cards to Help to Customers Cut Debt

Wells Fargo is the fourth largest bank in the United States, but it has a relatively small credit card business under its umbrella. In an effort to change that, Wells Fargo has come up with an innovative credit card that … Continue reading

LowCards.com Weekly Credit Card Update–August 9, 2013

An $18 Million Lesson in Handling Credit Report Errors Julie Miller could not get the big credit bureau to remove a host of errors that it inserted into her credit report. So she tried suing and that worked. A jury in … Continue reading

Wells Fargo and American Express Form Credit Card Partnership

Wells Fargo's CEO is delivering on his promise to make his bank more of a player in the credit card industry. Today, Wells Fargo and American Express announced a partnership where Wells Fargo will begin issuing new credit cards accepted on the American Express network. … 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 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

The Movement Toward Chip-Based Credit Cards

Educational initiatives on the U.S. transition to secure chip-based credit card payment systems was one of the top priorities for 2013 to come out of the 6th annual Smart Card Alliance Payments Summit, held recently in Salt Lake City, Utah. … Continue reading

Banks Reach $8.5 Billion Foreclosure Settlement

On Monday, ten U.S. banks agreed to pay $8.5 billion to settle regulator's accusations that they didn't follow the correct foreclosure process and made errors in the loan process. This includes the robo-signers used to sign off on thousands of … Continue reading

Wells Fargo Overdraft Fee Policy Upheld by Court

Wells Fargo may once again charge overdraft fees based on its practice of posting customers' same-day debit card transactions in a high-to-low order. The U.S. Court of Appeals in San Francisco overturned a lower court ruling that ordered Wells Fargo … Continue reading

Banks Extend Waivers for Sandy Victims

Some of the nation's biggest banks have extended temporary waivers through Wednesday, November 7 on a variety of fees and late charges for residents of states hit hard by Superstorm Sandy. The banks waiving fees include JP Morgan Chase, Citigroup, … Continue reading

LowCards.com Weekly Credit Card Update November 2

Rise in Household Debt Might Be a Sign of Strengthening Recovery American households are taking on more debt than they are paying down for the first time since the recession started.  Some economists even see an end to the long, … Continue reading

LowCards Weekly Credit Card Update September 7

Many Card Companies Dumping Credit Protection Plans Credit card holders could soon be saying good-bye to some costly add-on products that promised peace-of-mind during a disaster, such as a job loss. And many consumer groups say good-riddance. Several consumer advocates … Continue reading