Declined Transactions Hurting Revenue from Online Gambling in New Jersey
New Jersey voters approved online gambling in November, and it seems to have gone over well with a majority of the state's residents. Governor Chris Christie originally estimated that the gambling...
View ArticleAverage Credit Card Balance up 6% in December
A report from Equifax indicates a significant increase in credit card debt in America, with the average person racking up a 5.9% higher balance in 2014. In total, Americans accumulated $624.4 billion...
View ArticleMan Sets World Record with 1,497 Credit Card Accounts
A man from California has set a new world record for having the most credit cards in his name--a total of 1,497. This amounts to a $1.7 million line of credit. Walter Cavanagh of Santa Clara,...
View ArticleRegulations 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...
View ArticleIncreasing Use of Credit Cards by Subprime Borrowers
The number of subprime borrowers who are obtaining a new credit card is growing at a significant rate. Roughly half of subprime borrowers—those with a credit score of 620 or less—now have a credit card...
View ArticleWhy Millennials Avoid Credit Cards and Bank Accounts
Millennials spend, store and save their money differently than members of other generations. The world is transforming to a cashless society, but that is not the only factor that is pushing Millennials...
View ArticleLowCards.com Weekly Credit Card Update–November 4, 2016
Subprime Credit Card Surge Pushing Up Missed Payments Credit card lending to subprime borrowers is starting to backfire. Missed payments on credit cards that lenders issued recently are higher than on...
View ArticleHow 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 ArticleCredit Card Losses at Small Banks Approach 8-Year High
Credit card charge-offs at small banks are approaching an 8-year high, according to a report from The Wall Street Journal. This is a measure of the credit card balances that banks write off as losses...
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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LowCards.com Weekly Credit Card Update–November 30, 2018
Next Up for Amazon: Checking Accounts Amazon is in talks with big banks including JPMorgan Chase about building a checking-account-like product the online retailer could offer its customers, according...
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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–November 8, 2019
Banks Tightened Standards on Credit Cards in Third Quarter, Fed Survey Finds Banks are tightening their standards on credit card loans in the third quarter, out of concern with the more uncertain...
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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...
View ArticleClik here to view.
Increasing Use of Credit Cards by Subprime Borrowers
The number of subprime borrowers who are obtaining a new credit card is growing at a significant rate. Roughly half of subprime borrowers—those with a credit score of 620 or less—now have a credit card...
View ArticleClik here to view.
Why Millennials Avoid Credit Cards and Bank Accounts
Millennials spend, store and save their money differently than members of other generations. The world is transforming to a cashless society, but that is not the only factor that is pushing Millennials...
View ArticleClik here to view.
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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