Credit Cards in the News: January 9-15, 2016

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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 “fluff” news. Here are the highlights for January 9-15.  

Holiday Debt Brings National Sum to All-time High

Though the holiday season is officially over, many Americans have only just begun facing their credit card debt accumulated throughout the festivities. The Federal Reserve's most recent measure of household debt was $3.5 trillion at the end of November. At an all time high, this measure includes credit card debt, auto loans, and other lines of credit (excluding mortgages). On a positive note, consumers seem to be resolved to pay down this debt, as reported by a national survey through Experian. Read more…

Financially Fit Campaign to Help Consumers get their Finances in Shape

In just two weeks, the CompareCards.com team is launching a webinar series called “Financially Fit” which will be geared towards helping consumers get take control of their finances in 2016. The campaign will feature three 45 minute webinars hosted by industry experts who will cover the topics of Credit Resolutions for 2016, Top Credit Cards of 2016 and Making Your Money Work for You. Registration is completely free and will also include a complimentary eBook compiled by the webinar hosts. Read more…

Creators of All-in-one Credit Card Devices Reveal “Coin 2.0”

Coin 2.0 is a smart card that can replace up to eight credit or debit cards in one device. Eight percent thinner than its predecessor, Coin 2.0 has made improvements such as a new E-Ink display, a push button to switch between cards, and NFC so you can tap to pay, just like a mobile phone. In addition, Coin 2.0 has a new security feature; the device will automatically unlock when it is within range of your phone, but the user has to enter a combination to unlock it when their phone is not nearby. Read more…

Malicious Software Found at Hyatt Hotels Results in Credit Card Breach

On Thursday, Hyatt Hotel announced that malicious software was found at 250 of its hotels, exposing customers’ credit and debit card numbers and other sensitive information to hackers. The number of customers affected is unknown, but the malware was present between July and December in payment processing systems at front desks, spas, restaurants, and other hotel areas. Affected hotels include the Park Hyatt, Hyatt Regency, and Andaz locations. Read more…

MasterCard Partners with Canadian Lender

On Thursday, MasterCard Inc. announced an agreement with Canada’s seventh largest lender, Desjardins Group, to issue its credit cards for the first time. Desjardins Group had previously only issued Visa credit cards. This deal makes MasterCard the only global payment network offered by all of the country’s major financial firms. Read more…

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