LowCards.com Weekly Credit Card Update–September 25, 2020

LowCards.com Weekly Credit Card Update–September 25, 2020

September 25, 2020         Written By Bill Hardekopf

Ruth Bader Ginsburg Paved the Way for Women to Get Credit Cards
But there’s a less known aspect of her legal work that has had profound consequences in the world of finance: if you are a woman who holds a credit card, you owe it in large part to the efforts of Ruth Bader Ginsburg. In Reed v. Reed, the landmark 1971 case highlighted in the 2018 film On The Basis Of Sex, Ginsburg co-wrote a brief arguing that a provision of Idaho state law which said men were to be preferred to women in appointing the administrators of an estate violated the Constitution. The court agreed, finding unanimously that dissimilar treatment, “on the basis of sex,” between men and women was unconstitutional. Story by Samantha Rosen for NextAdvisor

Apple Ends Its Credit Card Partnership With Barclays
Apple and Barclays’ credit card partnership was on borrowed time from the moment Apple teamed up with Goldman Sachs and launched the Apple Card last year. On Sept. 15, 2020, Apple made it official. It ended the partnership on the same day it launched its new iPad Air and Apple Watch products. During this lengthy partnership, Barclaycard had offered a credit card with zero-interest financing offers specifically for Apple products. Originally known as the Barclaycard Visa with Apple Rewards, the name was changed to the Barclaycard Financing Visa when Apple came out with its own credit card. Story by Lyle Daly for The Motley Fool

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Widespread Data Breach Affects Millions Who Donated to Charity
For weeks now, I’ve been getting letter after letter from various charities I support, telling me my personal information may have been exposed in a breach. The charities weren’t breached, it was Blackbaud, the company that handles the donations for many non-profits and medical institutions across the country. The cybercriminals who compromised Blackbaud’s computer system had access to personal data, some of it unencrypted, belonging to those who contributed to hundreds of organizations. Story by Herb Weisbaum for KOMO News

No One’s Splitting the Bill, But Venmo Is Surging
The Covid-19 crisis shifted a large portion of American retail online virtually overnight, but the gradual post-pandemic reopening has led to an interesting second shift: Online payment companies have started moving offline. Last month, CVS Pharmacy announced plans to add PayPal and Venmo QR code payments in its 8,200 stores during the fourth quarter, taking a mobile-first brand right into the checkout line. The national retailer, which will be the first to accept PayPal and Venmo, said its goal with the multiyear deal was to keep consumers safe and encourage them to adopt touch-free payment. This follows a broader trend of platforms, including Amazon Pay and WhatsApp, offering up QR codes for merchants as an alternative form of going contactless. Story by Byrne Hobart for Marker

Capital One Venture Welcome Bonus Soars To 100,000 Miles
Starting Sept. 22 new applicants for the $95-annual-fee Capital One Venture Rewards Credit Card have a shot at earning a welcome bonus of up to 100,000 Venture miles, which is double the previous amount. The new, two-part offer is structured as follows: New cardholders can earn 100,000 bonus miles after spending $20,000 on purchases within the first 12 months of account opening, or they can still earn 50,000 miles if they spend $3,000 on purchases within the first 3 months of account opening. Story by Robin Saks Frankel for Forbes

Why Hasn’t Apple Pay Replicated Alipay’s Success?
Even before Covid-19, mobile payment platforms were experiencing a boom in the U.S. and China. Apple Pay (U.S.) and Alipay (China) have radically changed the way people transact, offering secure, contactless payment options through mobile phones. Though both platforms are growing, Alipay is outperforming its U.S. peer: As of late 2019, Bain & Company found that only 9% of American consumers had adopted Apple Pay while 81% of Chinese consumers used Alipay. Given the size difference between the two countries, the difference between the number of Alipay users in China and Apple Pay users in the U.S. is staggeringly large. What are some of the factors driving this stark contrast? Story by Ian Gross, Kristofer “Kriffy” Perez and Bee-Lian Quah for The Harvard Business Review

Here’s Who Qualifies for Chase Sapphire Preferred’s New Massive, Limited-Time 80,000-Point Welcome Bonus
Chase just released its highest ever welcome bonus: Eligible new Chase Sapphire Preferred Card applicants can earn 80,000 bonus points after spending $4,000 on purchases in the first three months from account opening. This massive new bonus is worth up to $1,000 when you redeem points for travel through Chase Ultimate Rewards. Any points you earn using the Sapphire Preferred card have 25% more value when you use them for purchases through the portal. Earning this bonus can help you offset future travel costs. Story by Alexandria White for CNBC

Secret Documents Reveal Potential Dark Side of Prepaid Debit Cards
The collapse of Choice Bank, an obscure entity in Belize, went largely unnoticed in 2018. But Americans were among the uninsured depositors filing claims in its failure, totaling $100 million. Some said they were startled to learn that their money was trapped in a small bank in Central America. They thought they were doing business with a U.S.-based company called Payoneer. Story by Gretchen Morgenson and Kit Ramgopal for NBC News

Mastercard Expanding Digital First Card Program
Mastercard is expanding its Digital First Card program in North America by partnering with several payment processors to provide consumers with end-to-end payments options at scale. By enabling processors with the technology and go-to-market strategy to work with the issuing banks, the consumer is able to apply online and receive near instant issuance and access to card information; make online, in-app or point-of-sale purchases almost immediately; get quick access to card information such as expiration date and CVC2 but eliminating the need for it to be displayed on a card. If a customer wishes a physical card, it can be made available as well. Story in Mobile Payments Today

Binance Visa Cards Are Now Being Offered in Europe with Up to 8% Cashback
Binance, the world’s largest cryptocurrency exchange, will be offering Visa Cards in Europe. They will allow users to earn up to 8% cashback. The card will allow people to use their digital assets in their Binance accounts to spend and transact at over 60 million locations across the globe, wherever Visa cards are accepted. Cardholders will be able to link their Binance Card virtually with Google Pay and Samsung Pay. Story by Omar Faridi for CrowdFund Insider

Is Cryptocurrency the Future of Online Gaming?
Various industries are benefiting from the convenience of cryptocurrency, and one of those industries is online gaming. As per a report by the Wax, around 75% of online game players want to exchange their virtual assets for a currency that they could use to buy and sell on other platforms. Cryptocurrencies enable players to collect and trade in virtual assets, which they can exchange and trade across anywhere in the world. Hence, it offers the gaming industry a safe and easy medium to make money. Story by The Daily Gazette

1Password Brings Virtual Burner Credit Cards to Your Browser
1Password announced a new partnership with Privacy.com that gives 1Password users the option to use virtual credit cards to protect themselves from fraud. After signing up and enabling the feature in the 1Password X Chrome extension, users will receive a prompt each time they try to make an online credit card purchase asking if they’d like to use a virtual card instead. The virtual cards create unique payment credentials for an individual service for one time use, or you can save a virtual card to continually use for payments on the service in the future. Story by Rhett Jones for Gizmodo

The information contained within this article was accurate as of September 25, 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.