Prepaid Debit Cards Becoming Popular Alternative
As debit cards continue to replace checks and cash as the most popular way to purchase goods and services, more consumers are turning to transactions not tied to traditional banking accounts....
View ArticlePayday Loans Create More Problems for Borrowers
Many people facing financial trouble turn to payday loans, believing their problems may be alleviated. But new research indicates these loans are creating more headaches for already-troubled consumers....
View ArticleLowCards.com Weekly Credit Card Update–March 15, 2013
Prepaid Cards May Lack Protections of Checking Accounts Reloadable prepaid cards don't have to carry federal deposit insurance, as checking accounts do, says a new report from a project of the Pew...
View ArticleAmerican Express, Walmart Enhance Bluebird Prepaid Card
American Express is making two major changes with the Bluebird prepaid card sold at Walmart. These cards will now be backed by the Federal Deposit Insurance Corporation. In addition, consumers will...
View ArticleLowCards.com Weekly Credit Card Update–May 17, 2013
The Long Shadow of Bad Credit in Job Search Over the last several decades, credit reporting bureaus have been selling their services to a much wider range of buyers than just banks. Nearly half of...
View ArticlePrepaid Debit Cards Not Just for Unbanked Consumers
Prepaid debit cards are most often associated with unbanked consumers who use the cards to receive direct deposits or store their money securely. A surprising new study from Pew Charitable Trusts...
View ArticleThe Appeal of Prepaid Debit Cards
Two new surveys from the Pew Charitable Trusts show that prepaid debit cards have become a popular alternative to checking accounts for more Americans. Consumers loaded $64.5 billion onto prepaid debit...
View ArticleCFPB Report Shows the Ugly Trap of Payday Loans
A report released today by the Consumer Financial Protection Bureau shows how payday loans trap borrowers in a cycle of debt. The report showed a shocking statistic: a majority of all payday loans are...
View ArticleVisa To Set Standards for Prepaid Cards
Visa is planning to create a designation for its prepaid debit cards that meet "consumer friendly standards." The goal is to assist consumers in picking the right prepaid card for their needs....
View ArticleLowCards.com Weekly Credit Card Update–October 3, 2014
Cyberattack Against JPMorgan Chase Affects 76 Million Households A cyberattack this summer on JPMorgan Chase compromised the accounts of 76 million households and seven million small businesses, a...
View ArticleBanks on Military Bases Need Greater Transparency for Troops
Many banks on military bases do not offer the protection or transparency soldiers need to make informed decisions about their finances, according to a new report from Pew Charitable Trusts. The study...
View ArticleLowCards.com Weekly Credit Card Update–November 7, 2014
Here's How the New Chip and PIN Credit Cards Could be DOA A recent Gallup survey found that 69% of Americans worry "frequently" or "occasionally" about having a credit card compromised by computer...
View ArticleReloadable Prepaid Card Use on the Rise
A new study shows a significant increase in the use of prepaid cards among both banked and unbanked Americans. According to the Pew Charitable Trusts research entitled "Banking on Prepaid", use of...
View ArticleHeavy Overdrafters are the Most Financially Vulnerable Americans
A new report from The Pew Charitable Trusts’ consumer banking project has found that the most vulnerable consumers are the ones who most often overdraft their account. In 2015, Pew surveyed “heavy...
View ArticleLowCards.com Weekly Credit Card Update–April 22, 2016
Some Merchants See Dip in Fraud Thanks to Chip Cards The new chip-enabled cards flowing into the U.S. marketplace have already made a dent in fraud, with some of the biggest merchants seeing a dip of...
View ArticleChecking Account Fees on the Decline
Checking account fees are beginning to decline in America after several years on the rise, according to the latest MoneyRates Bank Fees Survey. The study found the average monthly maintenance fee in...
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