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 readingMerchants may be reluctant to make their customers jump through hoops in order to pay them for their purchases, but when it comes to payment security, a new report indicates that consumers don’t mind.
People are willing to do more to protect themselves from falling victim to fraud, according to the 2016 American Express Digital Payments Security Survey.
For example, 78% of survey respondents said they would enter a security code for their credit card when buying something online, but...
As the economy continues to remain weak, American consumers are becoming more and more desperate on where to turn to for financial security. Job security is also at an all time low, with unemployment at an all time high. Because of a drastically decreased monthly income, more and more consumers are now forced to rely on credit instead. Unfortunately, credit card companies are currently engaged in putting the squeeze on credit and, as a result, on credit card users.
When the economic crisis...
The economic recession, the rise of unemployment, and the fall of the property markets have hit the country quite hard. For the average American, the reality has been rising loan rates, the risk of losing homes, and the threat of unemployment. As a result, every American has had to rethink the way they spend their earnings.
Today, Americans around the country are moving away from their old, consumer-driven spending habits. The order of the day for most Americans is now spending smart. It...
While many Americans are struggling to survive during an economically trying time, many consumers may be surprised to learn what they fear most. Beyond the concerns of war, acts of terrorism, and health crisis on the rise, it a legitimate fear of credit card fraud. Research conducted in early 2009 indicates that as many as 68% of the 1,000 respondents surveyed have a greater fear of being the victim of credit card fraud and having someone access their credit or financial information than of any...
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