Credit cards have now become an integral part of every American's life. TransUnion, one of the major credit bureaus, reports that there were more than 430 million credit card accounts in the U.S. at the beginning of 2019. And this number keeps growing continuously. So does fraud. According to Rippleshot, a company providing fraud analytics software, the number of fraud victims among credit cardholders increased from 6,6 million in 2014 to 7.6 million in 2017. Therefore, it is not surprising...
Continue readingA new idea is hitting Britain and is aiming to spike use of credit cards through mobile or "contactless payments". Credit and debit customers who are with Barclay and have Barclaycards are now eligible to sign up and receive something known as PayTag, which can be tapped against terminals to automatically pay for purchases that would otherwise be made with a credit card.
The PayTag is about one-third the size of a traditional credit card, can be easily stuck or attached to the back of a cell...
Consumers from all over the country have been waiting for the results of the latest defaults performance of various credit card companies. Now, as a lot has anticipated the news that would be delivered is good. Capital One Financial Corporation or simply known as COFC has finally filed the first report for the month of May, and they bring credit card holders a decrease in the month’s credit card defaults. May had a 9.48 percent down in the percentage of defaults compared to last April’s...
Continue readingGetting a credit card can be quite a liberating experience – until you find yourself deep in credit card debt. With the current economy the way it is, if you are carrying a large balance every month on you credit cards, you are possibly in a very risky financial position.
Aside from the bad economy and the dry up in employment, you will also have to contend with increasing interest rates and fees. Banks are currently very eager to earn as much as they can out of you. You see, not only are...
The credit crisis has everyone worried about their financial stability. In this tough economic times, credit cards have become a vital life line for every American consumer. Thus, their worries about not being able to make the monthly payments and losing available credit is quite valid. It is also quite understandable why many American consumers are very interested in protecting their credit. However, one thing they should never do is get credit card protection. Here is why.
American...