credit card

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One Trend Among GOP Freshmen: Debt

Not the national kind, the personal kind

(Newser) - Republican freshmen in Congress say they're serious about tackling the US debt—but when it comes to their own personal debt, many have what the Washington Post amusingly calls “a more nuanced view.” At least 30 out of 87 had debts of $50,000 or more last...

Big Citi Hack Reveals Ugly Truth About Banks

Firms not investing enough on protecting customers, analysts say

(Newser) - The massive data breach at Citigroup has alarmed customers, angered lawmakers, and sparked debate on whether big banks are spending enough money on protecting their customers' information, the New York Times finds. Credit card companies have devoted their resources to preventing fraud from occurring when data is stolen and not...

Big Banks Try to Steal PayPal's Thunder

Google meanwhile to let you pay with swipe of the phone

(Newser) - Big changes could be afoot in the way Americans pay for stuff. Bank of America, JPMorgan Chase, and Wells Fargo are introducing a new service that will let customers easily transfer money from their checking account to someone else’s, the Wall Street Journal reports. The banks are hoping the...

Finally! Study Discovers Way to Kill Spam

3 financial companies control most spam-prompted card payments

(Newser) - Researchers in California think they’ve found spammers’ weak point—and say it could be used to help kill off the industry. To make their discovery, the researchers spent months trying to attract all the spam they could before buying thousands of dollars worth of products advertised in those emails....

Look Out, PayPal, Visa Wants Your Customers

Credit card giant working on person-to-person transactions

(Newser) - Visa will soon allow customers to use their credit and debit cards to send money to other individuals, reports AP . It's the same type of service offered by the likes of PayPal, but Visa will come into the market with the advantage of 1.85 billion cards in circulation. One...

iPhone Gunning for Your Credit Card

Apple devices to beam consumer information

(Newser) - So the next generation of iPads and iPhones will help you empty your wallet in a whole new way: As a credit card. Using “near-field communication” technology, the devices will be able to beam data—credit-card numbers and bank details, for example—up to 4 inches away. The move...

Kim's Kiddie Credit Card a Rip-Off

You'll have to pay at least $59.95 just to get one

(Newser) - As if it's not bad enough that Kim Kardashian's new credit card is for children as young as 13 , it turns out it also "may be the worst credit card ever," writes Gus Lubin for Business Insider . In addition to a cost of between $59.95 and $99....

Google: Android Phones Could Replace Credit Cards

Eric Schmidt gives peek at new capabilities

(Newser) - An upcoming Android upgrade could make credit cards obsolete by allowing for safe and simple payments via smartphone, says Google CEO Eric Schmidt. Speaking at the Web 2.0 conference in California, he said a soon-to-be-released phone (it looked to be the next Nexus) would sport a new NFC—Near...

Kim Kardashian Launches Credit Card ... for Kids

Sounds like an awesome idea, right?

(Newser) - Who better than Kim Kardashian to promote a credit card for 13-year-olds? The reality star is backing the Kardashian Prepaid MasterCard at a launch party tomorrow, the New York Post reports. And, though it is a card for kids, it’s not about teaching them how to go into debt,...

Credit Card Debt Drops to 8-Year Low

Falls to an average of $4,951

(Newser) - The average American’s credit card debt hit an 8-year low in the second quarter of the year—even as rates hit a 9-year high . The average combined credit card debt fell to $4,951, down 13% from $5,719 over the same stretch last year, according to figures from...

Credit Card Rates Hit 9-Year High

Card makers jack prices in face of new regulations

(Newser) - Interest rates are tumbling for US Treasuries, companies, and home-buyers. The prime rate is extremely low. Yet for some reason, credit card companies are charging more and more, with average rates hitting a nine-year high of 14.7% in the second quarter, the Wall Street Journal reports. Companies say they’...

Soon, Your iPhone Could Be a Credit Card

Apple hires wireless payment expert to lead global commerce

(Newser) - So we all know the iPhone can do pretty much everything (except sometimes make a phonecall), but Apple has in its sights the next way it can help you spend your money: Swiping the handset like a credit card. Apple has hired an expert in near-field communications, a relatively new...

11 Simpsons Predictions That Came True

Yucky soy snacks? Check. Crazy celebrities? Got 'em.

(Newser) - During its sixth season in 1995, The Simpsons gazed into the future—specifically, 2010—in the “Lisa’s Wedding” episode. Writing at 11points.com , Sam Greenspan lists 11 things about this year the episode got right:
  • Soy snacks: Not only did the show predict their popularity, it also “
...

1 in 4 Americans a Credit Risk

Credit scores sink to new lows

(Newser) - Thanks to the Great Recession, the credit scores of millions more Americans have sunk to new lows. New figures show that an astounding 1 in 4 households are now in the lowest credit category, boosting the number of those considered poor lending risks to 43 million. Even more consumers are...

Have Some Malware With That Smartphone App

Malware sneaks in to smartphone software stores

(Newser) - The millions of apps available online have greatly expanded smartphones' capabilities—but at the price of security, cybercrime experts say. Google, Research in Motion, and Apple have all had to pull malicious or deceptive applications from their stores, but not before some had already been downloaded by scores of users,...

LiLo's Credit Card Debt: $600K
 LiLo's Credit Card Debt: $600K 
trainwreck dept
Apr 19, 2010 9:57 AM CDT

LiLo's Credit Card Debt: $600K

One card already cut the not-really-an-actress-anymore off

(Newser) - We all know Lindsay Lohan's ability to shop outweighs her ability to get cast in movies these days, but now her debt has a number. And it's a big one: “Lindsay owes credit cards $600,000,” a source tells Radar , adding that one card even cut her off....

Your Credit Card Is Spying on You
Your Credit
Card Is
Spying on You
Apr 7, 2010 6:38 AM CDT

Your Credit Card Is Spying on You

Visa and other companies judge you based on what you buy

(Newser) - Visa knows if you’re going to get a divorce. It knows that you just moved and, most importantly, it knows if you’re going to miss a payment—maybe before you do. Credit card companies have developed eerily accurate models for predicting consumer behavior based on the things they...

Get Ready for New Credit Card Fees
Get Ready for New
Credit Card Fees
Feb 20, 2010 11:49 AM CST

Get Ready for New Credit Card Fees

New law cracking down on industry makes them inevitable

(Newser) - New rules go into effect Monday intended to make sure credit card users don't get ripped off by sneaky fees and charges that have long been standard practice in the industry. As a result, customers should be braced for a whole new set of sneaky fees and charges, warns the...

Banks Screw Customers in Regulatory Pout
Banks Screw Customers in Regulatory Pout
OPINION
Jan 6, 2010 9:18 AM CST

Banks Screw Customers in Regulatory Pout

Fees soar in revenge for tougher rules in the works in Congress

(Newser) - With a slew of new regulations headed their way, banks are jacking up their fees and credit card rates, in a blatant attempt to squeeze every last penny out of their customers. They say they’re just trying to recoup the money these new consumer protections will cost them. For...

Visa Corners Debit Card Market—With Higher Fees

Fees on signature debit purchases boost banks, screw merchants

(Newser) - In a bizarre twist, the intense competition among debit card companies has resulted in a race to higher prices, which benefit banks at the expense of retailers, not to speak of consumers. At issue is whether you sign for that debit purchase or enter your PIN instead—the former costing...

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