Credit Card News

Supreme Court could bring arbitration back to credit card agreements

A recent Supreme Court ruling could restore binding arbitration clauses to the terms and conditions of many American credit cards. Eight of the Supreme Court Justices ruled in favor of CompuCredit, a company marketing credit cards for bad credit. The company's customers had attempted to sue CompuCredit for marketing a Visa credit card that only [...]

Categories: Credit Card Law
Visa, MasterCard antitrust case could squeeze rewards cards

The Street's Dan Freed warned investors this month that a major lawsuit against Visa, MasterCard, and over a dozen large credit card issuers has slipped "under the radar" despite the significant changes it could bring to the payment marketplace. Although the case won't reach the courtroom until September, industry analysts have started making guesses about its [...]

Categories: Rewards / Travel Cards
Ancestry.com takes down veterans data mistakenly posted

Social Security numbers and other key information about more than 2,200 living military veterans showed up by mistake on Ancestry.com, according to a Department of Military Affairs report. As department officials investigate the cause of a filing error that supplied the information to Ancestry.com, the VA announced it had already arranged for affected families to [...]

Categories: Identity Theft / Credit Card Fraud
New technologies woo business credit card users

As London officials gear up for a "contactless" Olympic Games this summer, industry analysts report that the public's lack of awareness about new credit card technology could hamper its adoption. According to a YouGov study, fewer than 1 in 10 Britons knew they could use contactless credit cards or NFC-enabled smartphones to pay for meals [...]

Categories: Small Business Credit Cards, Contactless Credit Cards
AmEx, CapOne report higher credit card balances in Q4

The year has just begun but it already appears consumer confidence is on the uptick. Two major credit card issuers, American Express and Capital One, have revealed that their U.S. credit card loan balances rose in the fourth quarter of last year, according to company press releases. Capital One reported its U.S. credit-card loans grew 5.1 [...]

Categories: Other News
H&R Block touts quick tax refund with Emerald Prepaid MasterCard

As tax season approaches, H&R Block is once again promoting its Emerald Prepaid MasterCard. The tax preparation firm launched its prepaid debit card in 2007, according to H&R Block, as a way for consumers to quickly receive their tax refunds. H&R Block offers the Emerald Prepaid MasterCard to its tax preparation customers. The card can also [...]

Categories: Secured / Prepaid Credit Cards
Zappos.com hack compromises partial credit card data

Popular online shoe retailer Zappos.com alerted its employees and customers of a data breach that allowed hackers to see shoppers' personal information, but not their credit card numbers. In a posting on his company's public blog, Zappos CEO Tony Hsieh advised employees to set aside at least 20 minutes to review information about the cyber [...]

Categories: Identity Theft / Credit Card Fraud
Prepaid debit card fraud targets utility customers

A new wave of fraud involving prepaid debit cards has sprung up across the country, especially targeting residents of Hispanic communities. Officials at Western Massachusetts Electric Company and San Diego Gas & Electric have warned utility customers in both states about fraudulent phone calls from impostors threatening to suspend electric service unless they receive immediate [...]

Categories: Identity Theft / Credit Card Fraud
4 billion credit card offers mailed last year

About 4 billion credit card offers were mailed out to Americans last year, more than any year since 2007 and almost triple the number sent out in 2009, according to analysis from Synovate, a market research firm. The Boston Globe indicates this may be a sign of relaxed lending policies from some of the nation's [...]

Categories: Credit Card Delinquencies
Strong holiday spending could prompt new credit card offers

Americans took on more credit card debt during the 2011 holiday season without going overboard, according to statistics from Experian and the Federal Reserve. Government officials announced figures from November that show a $20 billion spike in consumer spending, the biggest holiday rebound in over a decade. Though auto sales played a major part in the [...]

Categories: Other News
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