LowCards.com Weekly Credit Card Update–July 17, 2020

LowCards.com Weekly Credit Card Update–July 17, 2020

July 17, 2020         Written By Bill Hardekopf

Amazon Introduces Dash Cart, Essentially An Amazon Go Store On Wheels
Amazon just reinvented the lowly shopping cart. The company unveiled the Amazon Dash Cart, which is infused with weight sensors and cameras that allow it to scan your items as you’re placing them in the cart so you can skip the checkout line. The concept is kind of like a compact version of Amazon Go, a whole store that does away with the checkout experience by using hundreds of cameras on the ceiling to let customers pick up whatever items they want and walk out. Story by Ben Fox Rubin for CNet

Popular Mobile Banking Apps Are Riddled With Security Flaws, And Android Users Are More At Risk
A study of banking apps for iOS and Android has led researchers to conclude that “none of the tested mobile banking applications has an acceptable level of security.” Despite the small sample size, there are reasons to pay attention to the results. Every single app contained vulnerabilities, and three were common to all of them: A lack of obfuscation, no protection against code injection and repackaging, and code that contained names of classes and methods. In short, use your bank’s mobile app at your own risk. Story by Brandon Vigliarolo for Tech Republic

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Walmart Asks Customers To Use Credit, Debit Cards Amid Coronavirus Pandemic Coin Shortage
Is one of the nation’s largest retailers asking customers to use debit and credit cards instead of cash? The answer it seems is yes. There are multiple reports that Walmart stores are requesting customers to use either a debit or credit card to complete their in-person purchases. Story by Natalie Dreier for Fox 23

Going Cashless Leaves Some Behind
Society’s relentless push toward cashless commerce has hit a new gear thanks to the COVID-19 pandemic. But a cashless society clearly disadvantages the most vulnerable among us — people of color, people in poverty and the elderly. Convenience cannot overtake our desire to ensure an equitable and accessible economy for all. A December 2018 Pew Research Center survey found that 34% of Black people, 17% of Hispanic people and 29% of people earning less than $30,000 still rely on cash for almost all of their purchases. There are also concerns about privacy. Story in the Pittsburgh Post-Gazette

Capital One Venture And Savor Credit Cards Now Earn Bonus Points On Uber Eats
In the midst of the coronavirus pandemic, Capital One is yet again adding additional limited-time features to a number of its credit cards. On Monday, the issuer announced that, starting July 14, cards in both the Capital One Savor and Capital One Venture families will earn 5% cash back or 5 miles for every dollar spent on orders made with the food delivery service Uber Eats. The new bonus category is available through Jan. 31, 2021 and has no cap. Story by Julian Kheel for CNN

Your Credit Card Now Has You Covered If You Forget To Cancel A Subscription Service
There are hundreds of different subscription services, including streaming, that prospective customers can choose from. With many of those services offering free trials or limited-time promotions, it’s easy to sign up — and completely forget. However, you actually could be covered. It just depends on what credit card you’re using. Story by Chris Dong for The Points Guy

$40 Off A $40.01 Purchase When You Get A Target REDcard
Target is offering a coupon for $40 off a $40.01 purchase when you get a new Target REDcard. The offer is valid for $40 off a qualifying purchase of more than $40 when you are approved for a debit or credit REDcard in-stores or through Target.com between 7/12/20 and 7/26/20. The coupon will be mailed to approved cardholders with the REDcard. It is valid through 8/29/20. Story on WRAL

How Mastercard Uses AI To Fight Fraud And Make Better Credit Decisions
Mastercard is harnessing artificial intelligence in a bid to hit fraudsters hard by searching for emerging patterns of criminal activity before they become major problems. Mastercard executives said in many cases, AI is the only way to scale up sufficiently to meet the challenges the company faces with fraud and other business issues. Acquirers need to have better fraud management solutions than ever before, because the pandemic has prompted consumers to use credit cards for more online and app-based transactions. Story in PYMNTS

Visa To Pilot Installment Payments In United States
Visa is launching a pilot program to test installment payments in the U.S., beginning with payments issuer Total System Services Inc. offering the option at the point-of-sale. The pilot follows a growing trend of merchants embracing point-of-sale financing in a bid to increase average order size by allowing customers to buy bigger ticket items by spreading payments out over three or four months. Story in Mobile Payments Today

Study Shows Link Between In-Person Spending and Covid-19 Cases
According to a new study from JPMorgan, there is a strong correlation between an increase in restaurant spending and coronavirus cases. States with higher in-person restaurant spending saw a higher influx in new Covid-19 infections over the last few weeks. Researchers compared data from John Hopkins University and over 30 million Chase credit and debit cardholders. Story by Heaven Speirs for LowCards.com

How Having Super-Prime Credit Can Save You More Than 3X On Interest Payments
There’s more to getting a credit card than your three-digit credit score, but lenders will always look at how you stack up on the scale of 300 to 850. The best applicants pose little risk to lenders and have a history to prove they will be able to pay back what they borrow. Your borrower risk profile can fall into one of the five following categories: super-prime, prime, near-prime, subprime and deep subprime. Based on the interest rates on new car loans above, someone who is considered a super-prime borrower would pay over three times less interest than a subprime borrower. Story by Elizabeth Gravler for CNBC

Four Payment Giants Expand Digital Checkout
American Express, Discover, Mastercard and Visa have agreed on the global expansion of touch-free purchases across merchants and platforms. Click to Pay, the online checkout based on Secure Remote Commerce features one-click buying convenience when shoppers are making a purchase on a website, mobile app or any other digital channel with the four giant financial institutions. Launched last fall in the U.S., the expansion will now reach Australia, Brazil, Canada, Hong Kong, Ireland, Kuwait, Malaysia, Mexico, New Zealand, Qatar, Saudi Arabia, Singapore, United Arab Emirates and the United Kingdom, with more to come. Story in PYMNTS

The information contained within this article was accurate as of July 17, 2020. 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.

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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.