(Alan Rappa)

What The Numbers On Your Credit Card Indicate

Over the years, countless people have looked at 16-digit credit card numbers and said things like “Why do they need so many numbers? It’s not like there are 9.999 quadrillion bank accounts out there.” Well, that’s true. But the numbers on your card aren’t just about how many accounts or cardholders exist. They also indicate information about your card issuer, its network and tells processors whether or not the number is valid. [More]

Visa’s New Fraud Protection System Detects Credit Card User’s Risk At The Gas Pump

Visa’s New Fraud Protection System Detects Credit Card User’s Risk At The Gas Pump

This year credit card companies have sought out ways to make credit card use safer and more secure for consumers. While we’re still waiting for the widespread implementation of chip-and-pin cards, Visa is attempting to tackle fraud at one of its more common sources: the gas pump. [More]

10 Answers To Credit Card Questions We Get Asked All The Time

frankieleon

Credit cards come with a lot of fine print. But the scene isn’t just complicated for cardholders; it’s complicated for the retailers that accept them, too. What needs signing, and what doesn’t? When can a store ask for ID? Are they allowed to charge different prices for cash and credit? [More]

P.F. Chang’s Credit Card Breach May Have Started In September 2013

P.F. Chang’s Credit Card Breach May Have Started In September 2013

Chain fusion bistro P.F. Chang’s confirmed last week that its payment system had been breached, and the company’s official statement is that they’re investigating when and how the breach started. Unofficially, we may have an answer to the first half of that question: the breach may have started in September of 2013. [More]

(Clean Wal-Mart)

Walmart Slaps Visa With $5B Lawsuit For Allegedly Fixing Card Swipe Fees

Thought retailers were done fighting credit card companies over those credit and debit card swipe fees? You thought wrong! Or not wrong, because no one can predict the future, but Walmart is steamed up and suing mad at Visa, alleging in a new lawsuit that the card company set ridiculously high card swipe fees. [More]

MasterCard, Visa Form Industry Group To Address Payment Security Issues

MasterCard, Visa Form Industry Group To Address Payment Security Issues

In the wake of numerous high-profile data breaches and growing concerns about identity theft, credit card competitors Visa and MasterCard are teaming up to launch a cross-industry effort aimed at improving payment security for consumers. [More]

Visa, MasterCard Endorsement Of Tap-And-Pay Could Replace Your Wallet With A Smartphone

Visa, MasterCard Endorsement Of Tap-And-Pay Could Replace Your Wallet With A Smartphone

We use our smartphones for everything, from taking photos and video to mobile banking. So why not replace your wallet with your phone? That’s a change that could be coming sooner rather than later now that MasterCard and Visa have endorsed a new mobile payment technology. [More]

Man Loses Out On $217 In Credit Card Rewards Over Vague Definition Of “Pay At The Pump”

Man Loses Out On $217 In Credit Card Rewards Over Vague Definition Of “Pay At The Pump”

“Pay at the pump” generally means you swipe your credit or debit card at the machine. But in New Jersey, where you’re forbidden from pumping your own gas, there really is no other choice than paying at the pump, though the card isn’t always swiped at the actual pump. This vague distinction between “pay at the pump” and “giving your card to someone at the pump” is why one Jersey driver is out $217 in credit card rewards. [More]

Real McDonald’s Workers Share Actual Budgets — And They’re Nothing Like That Corporate Sample

Real budgets as filled out by actual employees of McDonald's.

We were a bit flabbergasted recently while looking at a budget planning guide from Visa for McDonald’s employees that conveniently added a second job (no easy feat for most) and also seemed to forget the fact that most people need staples like food and gasoline. Not to mention healthcare, which usually is a lot more than $20 a month. So what’s a real budget like for an honest to goodness, living, breathing, eating human being working at McDonald’s? [More]

(Jeff Keen)

We Have Some Problems With Visa’s Sample Budget For McDonald’s Employees

Someone meant really well. We think. A few years ago, Visa and McDonald’s partnered to launch a personal finance site for McDonald’s employees to help them better manage their money. Unfortunately, whoever wrote these materials had no grasp of what it’s actually like to live on $8 or so per hour. [More]

(frankieleon)

Target, Macy’s Reject Fee-Fixing Settlement With Credit Card Companies & File Fresh Lawsuit

Last summer, some of the country’s largest retailers reached a settlment with Visa and MasterCard that was supposed to put to rest qualms the businesses had with the credit card companies’ alleged practice of fee-fixing. The $7.2 billion settlement didn’t sit well with some, including Target and Macy’s, prompting a group of retailers to file a new lawsuit this week, effectively rejecting that previous agreement. [More]

(frankieleon)

Yet Another Reason Prepaid Debit Gift Cards Are A Terrible Idea

Cody had a Visa gift card, and he used it up to buy a grill, ordering online from Lowe’s for in-store pickup. He didn’t say where the gift card came from: maybe it was a present or he received it from a rebate. It doesn’t really matter. He used it for only part of his purchase. The problem came when he forgot to pick up the grill and other items that he bought for almost a month. The store where he was supposed to pick it up no longer had it in stock, but they couldn’t transfer the purchase to a different store. He needed to get a refund for the grill that he had ordered online, then buy it over again at another store. Easy enough…if he hadn’t used up the prepaid card and then tossed it out. [More]

(frankieleon)

How Do Different Credit & Debit Cards Stack Up In Terms Of Consumer Protection?

We’ve mentioned any number of times how federal laws offer more protection to consumers who make purchases with credit cards because $50 is the most you can be held responsible for a fraudulent purchase, while the sky could be the limit with debit cards. But how do the various networks compare? [More]

(kevindean)

Visa, FICO Warn Card Issuers Of More Sophisticated ATM Crimes

Card skimmers have been around for a while. And while they may have gotten smaller and harder to detect, the people using the skimmed data were generally limited to how much cash they could pull out of victim’s accounts in a day. And so a new breed of criminal has figured out a way to steal hundreds of thousands of dollars from ATMs. [More]

(northernplateguy)

US Bank Scores Twice In Roundup Of Worst Credit Cards

It’s probably not a banner day for some folks at US Bank, after two of the bank’s credit cards landed top (dis)honors in a roundup of worst credit cards of 2012. [More]

(TheTruthAbout)

Having Separate Credit Card Accounts From Your Spouse Can Keep You From Being Stranded Abroad

While many couples consolidate their bank and credit card accounts, there is at least one situation where having a separate account from your spouse can save you some huge headaches. [More]

Visa, MasterCard Agree To Let Merchants Add Surcharges To Credit Card Purchases

Earlier this week, we told you that a settlement in a huge lawsuit between merchants and Visa and MasterCard was in the offing and that it could open the door to retailers tacking on surcharges to credit card customers. Well, that proposed settlement has come to pass, meaning you may soon be paying more for the privilege of using your credit card. [More]

Get Ready To Pay Surcharge Every Time You Pay With Credit Card

Get Ready To Pay Surcharge Every Time You Pay With Credit Card

Visa and MasterCard know there is nothing that American consumers love more than fees and surcharges. That’s why the credit card companies are reportedly looking to do away with longstanding rules that prohibit merchants from adding on extra costs to customers who pay with credit. [More]