Credit News

Credit News

Are Chip and Pin Credit Cards Coming Soon?

We still use magnetic stripe credit cards in the U.S., and it doesn't seem like a change is on the way anytime soon. On the other hand, many countries outside the U.S. have ditched the swipe and sign process for chip-and-PIN cards - also known as "smart cards". The best part of using these credit cards is that they never leave your hands. They are safer, more efficient, and are arguably better at preventing credit card fraud.

Zip Codes and Credit Cards: Security or Marketing Scam?

Giving your zip code along with a credit card purchase is common practice. It happens at the grocery store, at the gas station, at some of your favorite clothing shops. Most of us don't think twice about it; other more paranoid patrons will give a fake zip if they can get away with it. But what are those paranoid purchasers so scared of? Why do stores ask for your zip code in the first place?

New Credit Card Rules Shun Stay-at-home Moms

[caption id="attachment_2894" align="alignleft" width="231" caption=" "]stay at home moms[/caption]

I was raised by a full-time mom. She was incredible. In fact, my Dad used to always say that she deserved a salary much higher than his for all she accomplished around the home.

Of course, that doesn't mean he put her on payroll, but she always had what she needed to spend on food, the kids, and herself. His income was her income, and that worked for us, as it does for millions of other families.

NFC Technology: Is a Credit Card Free Future Near?

Even if this year's iPhone 5 doesn't incorporate the much-hyped Near Field Communication (NFC) capabilities, a future without credit cards is pretty much guaranteed. But don't go cutting up your prized plastic just yet. A complete system overhaul is still a ways off.

How is a credit phone possible?

NFC – the tiny chip inserted in your smartphone or smart device that allows a purchase or transaction to be made simply by waving your device near a reader – has been a hugely successful technology in some parts of Asia and, in a much more limited scope, have popped up here and there in the US and Europe. The chips can send and receive data, and if attached to your bank account will deduct payment on the go, letting you charge as you chat.

Five Top iPhone Apps for Credit Card Users

If you own an iPhone, make sure you download these five incredibly useful credit card apps.

Free Checking: Another One Bites the Dust

I've had a free checking account with WAMU (now Chase) since 2004. And while I've never used it as my primary checking account, I did maintain a decent balance while running several transactions through it each month. Frankly, it was just nice to have around when I needed it, and I probably would've never thought about closing my account had it not been for a letter I received from Chase a few weeks ago.

2010 Online E-Commerce Sales Skyrocket during Holiday Season

The decline of credit card use this year was apparent in stores, but U.S. holiday spending statistics show 2010 was the year of the online shopper. ComScore reports during the 49 days of the holiday season (November 1st - December 19th), e-commerce spending on holiday gift items increased to over $28 billion in U.S. sales, which is a 12 percent increase compared to corresponding statistics from 2009. Most notably, online shopping holidays like Cyber Monday, Green Monday and Free Shipping Day each saw spending top $900 million in e-commerce retail - statistics that would have seemed unfathomable in our declining economy a year ago.

Dirty Money - Germs & Contaminants on Paper Currency

How many germs and contaminants are on money? A whopping 92% of all dollar bills have traces of cocaine, which bonds to green dye.

The CFPB: A New Cop on the Beat

[caption id="attachment_1905" align="alignleft" width="300" caption=" "]Consumer financial protection bureau[/caption]

Elizabeth Warren, the Harvard professor appointed by Obama to get the new Consumer Financial Protection Bureau (CFPB) up and running, sat down with the LA Times earlier this week for a Q&A session.

If you missed it and still have lingering questions about what it is Warren and the CFPB will be focusing on in the coming months, I highly recommend checking out the full interview for all the details.

No More "Free" Reports from


I checked out today because I was interested to see what changes have been made in light of the new rules that take effect this week.

As you might recall, new regulations that were part of the CARD Act of 2009 require free credit report advertisers to clearly state that there's only one authorized place to get a truly free credit report— The deadline to make this change for online advertisers is April 2nd, while the same requirement for TV and radio ads doesn't take effect until September.


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