Credit Cards Blog

Friday, June 10, 2011 1:49 pm
By Marcie Geffner · Bankrate.com

First Sony, and now Citi. In a statement this week, Citigroup said that some of its credit card customers’ personal data was stolen by hackers, who broke into the company’s online account system. The statement came in response to news reports of a breach that media outlets said occurred last month. The one-paragraph statement, distributed

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Wednesday, June 8, 2011 3:19 pm
By Marcie Geffner · Bankrate.com

Driver’s license, move over. Debt is now the symbol of a young person’s adult empowerment, according to a study by three academic researchers. Rather than feeling burdened, young adults, aged 18 to 27, actually had more self-esteem and a greater sense of control over their own lives due to credit card and college loan debts.

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Tuesday, June 7, 2011 2:35 pm
By Marcie Geffner · Bankrate.com

More consumers are reducing their credit card debt and staying current on their credit card payments, judging by a new analysis of TransUnion credit records. The average total debt per user dropped $286, or 5.8 percent, to $4,679 in the first quarter of 2011 from $4,965 in the fourth quarter of 2010. The most recent

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Monday, June 6, 2011 10:11 am
By Marcie Geffner · Bankrate.com

Another U.S. bank has taken a step forward in the slow migration toward chip and PIN credit cards. But the step is a small-scale one, expected primarily to benefit U.S. travelers to foreign countries. The financial institution in this latest development is Silicon Valley Bank. They will offer chip-based payment cards based on the EuroPay-MasterCard-Visa, or

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Friday, June 3, 2011 1:31 pm
By Marcie Geffner · Bankrate.com

Your cellphone or your wallet? That’s a question credit card giant MasterCard Worldwide tried to answer in a recent survey of consumers’ attitudes toward using their cellphone to make payments for goods and services. The survey found that 62 percent of respondents who use a mobile phone said they’d be open to the idea of

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Thursday, June 2, 2011 3:13 pm
By Marcie Geffner · Bankrate.com

Not to be outdone by Google, electronic payments giant Visa has announced its “next generation of payments solutions,” saying in a statement that the new digital e-commerce, mobile and social networking options will be just as secure, reliable and easy as the current Visa point-of-sale payments, i.e., plastic in-your-wallet credit cards. The new services, to be

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Wednesday, June 1, 2011 3:03 pm
By Marcie Geffner · Bankrate.com

Google News. Google Maps. Google Docs. And now, Google Wallet? Yes, you read that right. The search engine giant has announced a new service that will turn a cellphone into a “wallet,” allowing consumers to forgo their credit cards and instead tap the phone to pay when they shop at bricks-and-mortar retailers and other merchants. The

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Tuesday, May 31, 2011 10:56 am
By Marcie Geffner · Bankrate.com

Would you like a mortgage with your credit card? The combination of the two consumer financial products in one business isn’t new, but the forthcoming team-up of the Discover Card and LendingTree Loans is. Riverwoods, Ill.-based Discover Financial Services, one of the larger U.S. credit card companies, has announced plans to acquire Home Loan Center,

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Thursday, May 26, 2011 3:20 pm
By Martha C. White · Bankrate.com

One of the requirements of the Credit Card Act implemented two years ago was that issuers of credit cards had to include a resource for customers who had trouble managing their finances. The National Foundation for Credit Counseling provided a toll-free number to be printed on credit card statements, which consumers can call to find

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Tuesday, May 24, 2011 1:00 pm
By Martha C. White · Bankrate.com

A local newspaper out of California reports yet another instance of thieves stealing credit card numbers by attaching a skimmer — a device that records credit card data — to gas pumps. Unsuspecting customers would swipe their credit or debit card, only to have the information recorded so it could be used to commit fraud.

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