AmEx would be the first credit card issuer to raise the late-pay fee since the CFPB said earlier this year that the higher rate could go up by $1 to $38 starting in January 2017.
The average credit card agreement is 4,900 words, down about 500 from 2011.
The long-anticipated move by the Federal Reserve to raise its benchmark interest rate this week could have the biggest — and quickest — impact on credit card borrowers, especially those carrying large balances.
This may not come as a surprise if you’ve shopped lately with your new chip-enabled credit cards, and you find yourself still swiping that shiny new card to make a…
The U.S. regulator found that “over-the-limit” fees and other “back-end pricing” practices have essentially come to an end.
Consumers’ most frequent complaints were about incurring late fees and credit report problems “due to confusing payment processing schedules and difficulty disputing bill inaccuracies,” the CFPB says.
Nearly two weeks after Russell Simmons’ RushCard fiasco came to light, the U.S. Consumer Financial Protection Bureau says it is investigating the freezing of financial accounts that left customers without access to their funds.
Talk about irony. Scammers are using the national switchover to chip-based credit and debit cards — which are suppose to be more secure — as bait in phishing expeditions.
Target is re-issuing all its REDcard credit and debit cards as “chip and PIN” cards, which means that customers will have to memorize yet another personal identification number when using their new — and more secure — chip-based payment cards
Streaming giant Netflix picked an unusual culprit for failing to meet Wall Street projections for third-quarter U.S. subscriber growth, blaming the ongoing transition to chip-based credit cards.