LowCards.com Weekly Credit Card Update–December 6, 2019

LowCards.com Weekly Credit Card Update–December 6, 2019

December 6, 2019         Written By Bill Hardekopf

Cyber Monday Results Show Mobile Driving Ecommerce Train
Holiday shopping on Cyber Monday shattered existing records, with consumers spending $9.4 billion yesterday, a 19.7% increase from year-ago figures, when sales reached $7.9 billion, according to Adobe Analytics. Mobile transactions reached $3.1 billion on Cyber Monday, representing the highest year-over-year growth ever recorded for this date. Story by David Jones for Mobile Payments Today

3 Major Ways Credit Cards Have Changed in the Past Decade
The credit cards of the future are here, and they’ve improved in some big ways in the past decade. Compared to cards in 2010, today’s credit cards are more consumer-friendly, with certain restrictions on fees, interest rate hikes and unfair billing practices. Rewards and sign-up bonuses are far richer. Swiping is out, and dipping and tapping are in. Here’s what changed in the past 10 years. Story by Claire Tsosie for NerdWallet

Southern States Most Burdened by Credit Card Debt
The occasional splurging that comes with southern hospitality might just be responsible for credit card debt in key states, according to a study conducted by personal finance resource CreditCards.com. The data released on Wednesday found that out of the top 10 states with the highest amount of credit card debt, nine were southern states. The only geographical outlier on the list was New Mexico, which also turned out to rack up the most debt when compared to its median household income. Louisiana, West Virginia, Arkansas and Mississippi follow New Mexico on the list. Story by Cortney Moore for Fox Business

For Banks, Data on Your Spending Habits Could Be a Gold Mine
There’s a powerful new player watching what you buy so it can tailor product offerings for you: the bank behind your credit or debit card. For years, Google and Facebook have been showing ads based on your online behavior. Retailers from Amazon to Walgreens also regularly suction up your transaction history to steer future spending and hold your loyalty. Now banks, too, want to turn data they already have on your spending habits into extra revenue by identifying likely customers for retailers. Banks are increasingly aware that they could be sitting on a gold mine of information that can be used to predict or sway where you spend. Suppose you treated yourself to lunch. If you ordered ahead at Chipotle–paying, of course, with your credit card–you might soon find your bank dangling 10% off lunch at Little Caesars. The bank would earn fees from the pizza joint, both for showing the offer and processing the payment. Story by Anick Jesdanun for the Associated Press

This is How Your Holiday Shopping Trips Will Change in 2019
Aided by technology, many stores and shopping centers are offering more sizzle. Shoppers who venture into certain stores – sometimes for the first time since last holiday season – will find a different feel to many of them, with retailers trying to turn visits into exciting, emotionally fulfilling sensory experiences. They’re doing so through innovative store layouts, decor, technological displays and in other ways. More are using museum-like product displays, touchscreens that allow shoppers to learn more product details and adjustable lighting in fitting rooms. Story by Russ Wiles for the Arizona Republic

Apple Card Beginning to Show Up on Credit Reports
Nearly four months after rolling out in the United States, the Apple Card is now beginning to appear on credit reports. Goldman Sachs has confirmed that it is working with credit bureau TransUnion to begin reporting Apple Card information, informing cardholders that they will see full details on their credit report within the next five days. This includes the date the Apple Card account is opened, credit balance, payment status, and more. In other words, like any other credit card, the way you use your Apple Card can now have an impact on your credit score. Story by Joe Rossignol for MacRumors

Black Friday Through Cyber Monday, Suspicious Transactions Rose 29% from Last Year
While last weekend’s holiday-shopping extravaganza unleased a geyser of payment transactions, it also uncorked a flood of potential fraud, data released Thursday show. Online shoppers spent $7.4 billion on Friday alone, with Cyber Monday sales, which by definition are e-commerce transactions, alone estimated to total a record $9.4 billion, up nearly 20% from 2018, according to Adobe Analytics. But the e-commerce shopping binge also attracted plenty of active fraudsters. The increase in suspected fraud from last year’s five-day holiday-shopping weekend was 29%, iovation reported. Story by John Stewart for Digital Transactions

Dave & Buster’s Debuts Mobile Guest Engagement Commerce App
Dave & Buster’s is launching a guest engagement app experience that lets guests tap their smartphones on games, provides instant reloading capability for Power Card users, and includes a rewards program. The app, developed in partnership with commerce solution provider, Stuzo, is supported by Stuzo’s foundational technology and managed via its digital product innovation services. The brand said that it is North America’s first-ever mobile NFC tap-to-play experience and is available to Android and Apple device users, including the Apple Watch. Story in Mobile Payments Today

Small Businesses Want Better Credit Card Rewards, Benefits
While small business credit cards are generally getting high marks from their customers, they are falling short in a key area that involves terms, rewards and benefits provided by those cards, according to an inaugural study by J.D. Power. Discover gets the highest customer satisfaction scores among small businesses, followed by American Express and Bank of America. The report shows that small businesses are much more satisfied than consumers regarding their respective credit cards, however ,small businesses are not that happy with the rewards offerings, benefits and overall terms they get from these targeted cards. Story in Retail Customer Experience

Mastercard Leverages Active Biometrics to Secure More than Just Payments
The passive biometric approach seeks to determine if the right person is interacting with a digital platform, be it an account creation, login attempt, or transaction initiation. To do so, a product called NuDetect, by NuData, uses four layers of authentication where among others, it analyzes up to 300 distinct signals, ranging from how hard the screen is being pressed to how the person is navigating around their device. In addition to these biometric signals, other information such as device type or location are also assessed. Based off of all these signals, Mastercard makes a probabilistic determination of whether the person is who they’re supposed to be. If there is a marked departure from established behavior, the merchant can decide to issue an identity challenge to the user. That’s when active biometrics comes into the equation. Story in Payments Journal

Store Credit Cards Might Score You a Discount Up Front, But You Should Avoid Them for 3 Reasons
With the busiest retail season of the year upon us, it’s more than likely that you’ll hear pitches to open up store credit cards between now and the end of the year. Store credit cards may sound appealing, but for most people they’re rarely the best choice. They generally don’t hold a candle to travel credit cards when it comes to earning rewards on your spending. They also usually lack features like price and purchase protection, and they’re likely to come with sky-high interest rates. Story by Carly Hefland for Business Insider

The information contained within this article was accurate as of December 6, 2019. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

Review LowCards.com Editor’s Top Cards!

2020 Top Credit Cards by Category
Featured Fair Credit Card
Reflex Mastercard® Credit Card
EDITOR RATING
Featured Fair Credit Card
Reflex Mastercard® Credit Card

Applying for this card will securely direct you to the issuer's website.

Top Features: All credit types welcome to apply!

Featured Low Interest Card
ABOC Platinum Rewards Mastercard®
EDITOR RATING
Featured Low Interest Card
ABOC Platinum Rewards Mastercard®

Applying for this card will securely direct you to the issuer's website.

Top Features: No annual fee; $150 statement credit after spending $1,200 in first 90 days; 0% on Purchases for 12 months

Featured Bad Credit Card
First Digital NextGen Mastercard® Credit Card
EDITOR RATING
Featured Bad Credit Card
First Digital NextGen Mastercard® Credit Card

Applying for this card will securely direct you to the issuer's website.

Top Features: Reports to all three credit bureaus, perfect credit not required for approval

Featured Bank Account
Unlimited Cash Back Bank Account by Green Dot
EDITOR RATING
Featured Bank Account
Unlimited Cash Back Bank Account by Green Dot

Applying for this card will securely direct you to the issuer's website.

Top Features: Unlimited Cash Back Rewards


bill-hardekopf

About Bill Hardekopf

Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.