27th

July, 2015

Does My Credit Card Work with Apple Pay?

Apple Pay uses near field communication systems, or NFC, to process payments without actual physical contact between the user’s card and a payment terminal. Instead, the smartphone app allows consumers to store their credit card information on their mobile device and complete transactions by hovering or tapping their phone over a payment terminal. Along with the additional convenience, Apple Pay provides an extra level of security by creating a unique account number for each card and only transmitting encrypted data to the merchant during payment. Banks Flocking to Apple Pay Given the massive security breaches and cyber-attacks that plagued American consumers in…

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24th

July, 2015

Credit Cards in the News: July 18-24, 2015

Credit card news pops up every week and it’s not always easy to keep track of each story, especially all the stories about credit card fraud. That’s why we provide you with a summary of the top stories on CompareWallet.com so you can read what matters the most and not have to worry about all the other stuff. Here are the highlights for July 18-24, 2015. Citibank Ordered to Pay $700 Million for Illegal Credit Card Practices On Tuesday, the Consumer Financial Protection Bureau (CFPB) ordered Citibank to refund $700 million to 8.8 million customers for illegal credit card practices.…

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23rd

July, 2015

Five Reasons Why You Need a New Credit Card

The offers on the credit card landscape are constantly changing. Credit card issuers are always competing with each other to roll out the best offers to hopefully earn a spot in your wallet. This is great news for consumers, because as the banks duke it out trying to one-up each other with lower interest rates and more generous rewards programs, savvy cardholders can easily cash in on the best offers to save hundreds of dollars a year. With all of the competitive card offers out there, if you have been using the same card for a number of years, here…

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22nd

July, 2015

Consumers Must Read Fine Print

The Consumer Financial Protection Bureau (CFPB) sent out letters last year warning some credit card companies to be careful when making promotional offers. The notification specifically addresses offers for low-interest or zero-interest balance transfers and convenience checks that can be used to take out a cash advance. Although unrelated to low-interest products and marketing, the most recent example comes from Citibank. Citi sold add-on services between 2002-2013, promising payment flexibility and protection against fraud and identity theft. Clear and Accurate Marketing The federal agency has noticed that some card companies are at risk of breaking the law because of the…

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21st

July, 2015

Review of the Plum Card from American Express

The best credit cards typically fall into one of two categories; either they offer a generous rewards program, or they have low interest rates and flexible repayment options. It is very rare to find both features in one piece of plastic. But if you’re a business owner looking for a great rewards card that will also give you strong purchasing power and convenient payments, then we have the perfect card for you. The Plum Card from American Express comes with some of the most attractive features on the market for business owners. Unlike traditional credit cards, the Plum Card is…

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20th

July, 2015

Earn The Most Rewards From Amazon.com Purchases

A North Dakota rancher can go through life without buying a subway ticket, while a New York businessperson may not even need a driver's licence. But if there's one thing that urban and rural Americans can agree on, its their love of Amazon.com. The online retail giant gives those in the most remote locations access to hundreds of thousands of products that might have meant hours of driving, while city dwellers prefer to buy some goods online without having to worry about transporting them home by foot or with public transit. Earning Rewards From Amazon.com With so many people (even suburbanites), spending so much money…

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17th

July, 2015

Credit Cards in the News: July 11-17, 2015

Credit card news pops up every week and it’s not always easy to keep track of each story, especially all the stories about credit card fraud. That’s why we provide you with a summary of the top stories on CompareWallet so you can read what matters the most and not have to worry about all the other stuff. Here are the highlights for July 11-17, 2015. Credit Card Usage Continues to Rise in May and June The latest statistics from the Federal Reserve show that consumer credit card spending continues to rise. Consumer credit rose at an annual rate of 5.7%…

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16th

July, 2015

Smartphone Apps for Debt Relief & Better Money Management

The capabilities of smartphones and apps have created a population dependent on their mobile devices. From games to health care apps, smartphones have far exceeded the basic premise of talk and text in the realm of mobile phones. One of the major trends of apps has been the birth of mobile banking and money management. Consumers can now access accounts on the go to pay bills, transfer funds, and monitor credit reports. However, one of the major factors that is lacking on the individual banking apps is the inability to cross between accounts or to access all accounts in one…

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15th

July, 2015

The Scoop on the New “Smart Card” Devices

New credit card-size products touted as “smart cards” promise to help you clear out the clutter in your wallet by consolidating all of your plastic – including credit cards, debit cards, gift cards, and loyalty cards – into one sleek and slender device. We recently reviewed one of the leaders in this niche, the Coin, but Coin has some competitors, and below are descriptions of three of the major players – PlastC, Swyp, and Stratos. What They Do for You These gadgets store the essential cardholder data for all of your plastic. That means that instead of carrying multiple cards around…

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14th

July, 2015

COIN: Consolidate & Encrypt Your Plastic

Do you spend too much time shuffling through your wallet or purse trying to find the right card to pay with? If so, then you should take a look at Coin; a gadget that lets you combine all of your payment cards in one single piece of technology the size of a standard credit card. The company created a buzz a few years ago when it launched the product and pre-sold an astonishing number of units within the first hour. Unfortunately, Coin then embarked on a long phase of testing that caused serious delays. In April of this year, however, the…

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13th

July, 2015

Are Mobile Payment Apps Safe?

A recent study noted that almost half of the world’s credit card fraud takes place in the U.S., although we only account for a quarter of the global credit card volume. Many experts attribute this disparity to the fact that the U.S. has lagged behind the rest of the world in adopting EMV chip enabled credit cards. But it doesn’t stop there. Starbucks made headlines in May, but not in a good way. Multiple major news outlets – including CNN and ABC News – reported that criminals had hacked into the Starbucks’ mobile payment app and drained funds from unsuspecting…

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10th

July, 2015

Credit Cards in the News: July 4-10, 2015

Credit card news pops up every week and it’s not always easy to keep track of each story, especially all the stories about credit card fraud. That’s why we provide you with a summary of the top stories on CompareWallet so you can read what matters the most and not have to worry about all the other stuff. Here are the highlights for July 4-10, 2015. JPMorgan to Pay $125 Million in Settlements over Credit Card Probes JPMorgan Chase and Co. is expected to pay $166 million to settle federal and state investigations over the bank’s collection and sales of consumer…

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