Credit Card News

Stolen credit cards are targets for penny shaving

Law enforcement officials have warned Americans to avoid "salami slicing," except at the corner deli. That's the nickname of the technique that criminals have used for decades to "shave" pennies or dollars from transactions in large organizations. Now, it's a tactic that identity thieves now use to target credit card accounts. In the credit card version [...]

Categories: Identity Theft / Credit Card Fraud
Credit score: Nice guys finish last

Nice people — as well as bad drivers — should worry about their credit scores, according to recent reports. According to the Globe and Mail, a Louisiana State University research team set out to investigate the common belief that employers could judge a job applicant's trustworthiness by reviewing their credit reports. The LSU researchers couldn't find [...]

Categories: Credit Scoring / Reporting
Banks may use credit card offers to offset "Move Your Money" movement

While banking industry analysts measure the effectiveness of "Bank Transfer Day," the Credit Union National Association reports that many Americans didn't wait until Nov. 5 to move their money. A CUNA survey of 5,000 member institutions revealed that over 650,000 consumers joined credit unions between Sep. 29 and Nov. 1. The five-week figure beat the [...]

Categories: Credit Card Issuers
Financial literacy, not income, best predicts household wealth

Improving household financial literacy can mean the difference between arriving at retirement age with no assets and enjoying more than three times the net worth of a neighboring household, according to a recent white paper published by the National Bureau of Economic Research. Maarten van Rooij, Annamaria Lusardi, and Rob J. Alessie used a methodology developed [...]

Categories: Financial Literacy
New scores aim to predict consumer behavior

Your public records could help tell your doctor whether you're likely to take your medication on time, according to researchers at the country's most prominent credit scoring agency. According to a Wall Street Journal report, FICO has launched a new consumer rating system based on the information collected from public agencies and courthouses. The "Medication Adherence [...]

Categories: Credit Scoring / Reporting
Credit cards seen as more fair after CARD Act

Only about one in eight Americans feel their credit card companies treated them unfairly in 2011, according to a nationwide survey commissioned by Consumer Reports. That's less than half the number of similar responses generated in 2009, the year that regulators passed the Credit CARD Act. The Consumer Reports National Research Center interviewed 1,258 consumers [...]

Categories: Credit Card Law
Chase offers new perks to military cardholders

Service members, veterans and their families are getting additional credit card perks from Chase Card Services, the company announced in a press release. Military cardholders will now have the chance to earn unlimited cash back rewards for all their purchases, and all foreign transaction fees will be waived. The credit cards chosen from the Chase [...]

Categories: Chase Bank
Discover, Chase enhance rewards programs

Editor's Note: Thank you for your interest, these offers have expired and are no longer available. Two major credit card issuers - Discover and Chase - have announced new rewards perks just in time for holiday shopping and traveling. Discover teams with Amazon.com Shopping on the giant retail site is now possible using Discover's Cashback Bonus points. Discover [...]

Categories: Rewards / Travel Cards
Credit scores: Wisconsin 1, Texas 0

Two new reports on credit scores: one reveals significant variation by state, and another shows how credit scores are affected by common holiday credit moves such as applying for a retail card or sudden increases in credit utilization. Location, location, location Credit agency Experian released its State of Credit report and it found residents of Texas suffer [...]

Categories: Credit Scoring / Reporting
Capital One launches Spark small business credit card line

The Spark small business credit card line was recently launched by Capital One and the company, in a press release, notes it wants to offer small business owners increased rewards from everyday purchases. The company's new portfolio offers a total of six credit card choices. The six new credit cards are offering such rewards as cash [...]

Categories: Small Business Credit Cards, Capital One
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