Credit Cards in the News: January 16-22, 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 16-22.  

Barclays Offers Instant Replacement of a Credit Card

Research has shown that almost a sixth of 21-55 year olds have left behind their credit or debit card after visiting a bar or on a fun night out. As a result, Barclays has introduced a new service, which will be quite exciting for people who have a habit of losing their plastic. The service allows for an instant (virtual) replacement of a credit card, until the real physical card is delivered. Using a Barclays app, a virtual replacement card is downloaded to a smartphone allowing the customer to pay with it right away. Read more…

Crooks Use iPod Nanos to Steal ATM PINs

Criminals are now putting iPod Nanos to work in order to steal consumers’ PINs at ATMs. Reportedly the Nano is quite effective, known for its good camera and battery life. The criminal conceals the iPod Nano above ATM keypads, hidden underneath the plastic coverings. They then capture your PIN code on camera and then use a skimmer to steal card data without much issue. As companies continue to implement chip-based technology, this method will hopefully become less of a problem. Read more…

Majority of Americans Strive to Improve Their Credit in 2016

A recent survey from Chase Slate indicated that two out of three Americans would like to improve their credit score. However, many of them don’t know where to start with getting financially fit. Of those surveyed, 39% didn’t know their credit score and more than half were unaware that the most important factor in maintaining a good credit score is paying all of your bills on time. Read more…

Sam’s Club Accepts Visa

Remember the days Discover was the only credit card that Sam’s Club offered? As of February 1st, Sam’s Club will accept Visa cards for payment, making all four credit cards networks now accepted at its stores. Previously, Visa had been accepted as payment online but you weren’t able to use the cards in-store. Last fall when Amex and Costco ended their partnership, a new relationship was formed between the wholesale club and American Express. Read more…

Hyatt Hotels Releases More Details of Credit Card Breach

Days before the Christmas holiday, Hyatt Hotels announced a breach of its payments system. This Thursday, the company put out a statement releasing more details of that breach, which included 250 hotels within 50 countries. The investigation discovered malware that had collected cardholder names, card numbers, expiration dates and internal verification codes on credit cards used from August 13, 2015 to December 8, 2015. Read more…

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