The Consumer Financial Protection Bureau flexed its enforcement muscle for the first time today, fining Capital One Bank for deceptive credit-card marketing practices. The mega-bank has to pay $210 million in total, the vast …
credit cards
Retailers Can Now Charge Extra For Credit Card Buys — But Will They?
The 7-year fight between merchants and credit card companies over interchange fees on credit cards has finally been resolved. A settlement was reached on Friday that gives retailers a little over $6 billion in a lump sum payment, …
Vacation Spending: Credit or Debit?
Packing for vacation inevitably involves some decision making: Do I bring extra sunglasses? Flip flops or sandals? But a more important question is whether you should use a credit or debit card for vacation spending. Debit cards, …
Credit Card Surcharges May Be Coming to a Retailer Near You
Retailers have been fighting for the right to charge people more if they pay with a credit card. They may soon win that battle.
The Credit Card Companies With the Most Consumer Complaints
Consumer advocates cheered and the banking industry fumed when the Consumer Financial Protection Bureau made its credit card complaint database public last week. Banking analyst Ken Thomas got to work. Thomas sifted through this …
How to Pick a Cash-Back Credit Card
The idea of a credit card that gives you money for spending is pretty appealing, which goes a long way to explaining the enduring popularity of cash-back credit cards. The more you spend, the more you earn.
Would You Buy Stuff at a Garage Sale With a Credit Card?
Every summer, phone poles fill up with colorful fliers advertising events like garage sales, flea markets and bake sales. But this year, you’re more likely than ever to pay with plastic for that tchotchke or cupcake. A new study …
Is the CFPB Anti-Housewife? Unintended Consequences Strike Again
Credit card reform legislation has done lots of great things for consumers, like eliminating universal default and preventing card companies from jacking up interest rates just for the heck of it. But a provision intended to make sure issuers don’t let people run up more debt than they can pay off has the unintended consequence of …
More Americans Rely on Credit Cards for Basics Like Food and Gas
Americans are increasingly dependent on credit cards just to put food on the table and keep the lights on, a new study shows. Although we’re doing a better job overall paying our bills on time these days, many people are relying …
The Top 5 Flexible Travel Rewards Credit Cards
Memorial Day is right around the corner, and summer vacations are top of mind. How are you going to pay for your trip? Credit card issuers are constantly piling on perks to attract new customers, and those with good credit who …
10 Ways to Improve Your Financial Health (Even If You Only Do One)
The Fee That Credit Card Issuers Are Leaving Behind
Banks, the thinking goes, have never met a fee they didn’t like. Yet one credit card charge that has been standard for years—the “foreign transaction” or “foreign currency” fee, which tacks on an extra 3% or so to every hotel …