How Many Credit Cards Should I Have?
Credit cards can be incredibly valuable financial tools. As a method of payment, they offer greater convenience and security than cash, checks, and even debit cards. And as a means of finance, a credit...
View ArticleCredit Card Approvals Are Speeding Up—Is That Good for Customers?
Gone are the days of lengthy credit card approvals. Applicants used to wait days or even weeks to hear back from a credit card provider, but most applications are now approved or denied within the same...
View ArticleSynthetic Identity Fraud: How Fake People Get Real Credit Cards
TransUnion estimates that $355 million worth outstanding credit card balances in 2017 belonged to people who did not exist. That is only a fraction of $16.8 billion in total fraud losses, but it is...
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What Does Prequalified for a Credit Card Mean?
You may have received an email or letter informing you that you have been prequalified or pre-approved for a credit card. The offer may look attractive but may leave you wondering—what does it mean to...
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Banks May Be Tightening Standards for Credit Card Applications
According to the latest Senior Loan Officer Opinion Survey from The Federal Reserve, banks tightened their lending standards for credit cards in the third quarter 2019. Comparing the thrid quarter to...
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LowCards.com Weekly Credit Card Update–May 1, 2020
It’s Suddenly a Lot Harder to Find a New Credit Card. Here’s How You Can Still Get Approved “We see lots of anecdotal indications of the credit card companies cutting back on new card offerings and...
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Regulations May Be Hurting Credit Card Access for Low-Income Americans
Since 2007, there has been a 250% increase in credit card-related regulatory restrictions, but these regulations may have contributed to a 50% drop in credit card originations among lower-income...
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LowCards.com Weekly Credit Card Update–December 30, 2020
Economy Flops, Credit Cards Approvals Drop Since June 2020, the likeliness of a credit card application being declined surged from 26% to 35.1% in October, according to NY Fed data. This high turndown...
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