This Week In Credit Card News: Fixing Your Credit Report Errors, Consumers Pay Mortgages Again

May 30 2014, 12:28pm CDT | by

Correcting Your Credit Report Gets Easier

You just got more of a say in fixing errors on your credit report because Equifax, Experian, and TransUnion have changed their complaint systems to let people dispute mistakes in greater detail. Now when you provide documents, the agencies have to forward that material to the creditor, letting you state your full case. The creditor then has to fix any errors with all three agencies. [CNN Money]

Consumers are Back to Paying Mortgages Ahead of Credit Cards

Americans are putting their mortgages ahead of their credit cards when they pay the bills, reversing an unusual pattern that had developed after the housing bust. As home values plunged during the downturn, consumers began to default on their mortgages while continuing to make credit card payments. [The Wall Street Journal]

Will the Apple iWatch be a Revolutionary New Payment System?

The Apple Worldwide Developers Conference begins on June 2 and one of the latest rumors has an Apple iWatch with an NFC chip being introduced at this conference.This might not sound like a big deal, but it could be the start of the largest revolution in financial payments since the credit card. [LowCards.com]

The Ripple Effects of Rising Student Debt

A collection of studies shows the burden of student debt may well cause people to make different decisions than they would otherwise–affecting not just individual lives but also the entire economy. It appears that people with student loans are less likely to start businesses of their own. Areas with higher relative growth in student debt show lower growth in the formation of small businesses. [New York Times]

Visa, MasterCard Renew Push for Chips in Credit Cards

Visa and MasterCard are renewing a push to speed the adoption of microchips into U.S. credit cards in the wake of recent high-profile data breaches, including this week’s revelation that hackers stole consumer data from eBay’s computer systems. They say it’s time to offer U.S. consumers the greater protections microchips provide by joining Canada, Mexico and most of Western Europe in using cards with the more advanced technology. [Associated Press]

CARD Act Fixed Many Abusive Practices, But Not All

The Credit Card Accountability, Responsibility, and Disclosure Act was signed into law five years ago and has since shed light on the once opaque pricing structure that allowed credit card companies to put the screws on customers. However, it has failed to prevent credit card companies from peddling useless debt-protection products and murky promotional financing deals. Industry lobbying resulted in carve-outs for bank-issued debit cards and prepaid debit cards, which continue to have minimal consumer protections. [Boston Globe]

MasterCard Takes Steps to Boost Cardholder Security

MasterCard said it has taken steps to boost security for its cardholders. MasterCard said all of its credit, debit, prepaid and small-business cards issued in the U.S. will now come with the company’s identity theft resolution assistance, which helps cancel missing cards and alert credit reporting agencies. Additionally, the program helps detect whether customers’ personal data have appeared online. [The Wall Street Journal]

Nordstrom Said to Gauge Banks Interest in Its Credit Cards

Nordstrom has begun reaching out to potential buyers including Capital One and Toronto-Dominion Bank to gauge their interest in purchasing their store-branded credit card portfolio. The retailer has also approached Citigroup and JPMorgan Chase. [Bloomberg]
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LowCards.com Weekly Credit Card Rate Report

Based on the 1,000+ cards in the LowCards.com Complete Credit Card Index, the average advertised APR for credit cards is 14.45%, slightly lower than last week’s 14.47%. Six months ago, the average was 14.42%. One year ago, the average was 14.27%. [Lowcards.com]

Provided by LowCards.com

 
 

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This Week In Credit Card News: Fixing Your Credit Report Errors, Consumers Pay Mortgages Again - Apple Balla
 

This Week In Credit Card News: Fixing Your Credit Report Errors, Consumers Pay Mortgages Again

May 30 2014, 12:28pm CDT | by

Correcting Your Credit Report Gets Easier

You just got more of a say in fixing errors on your credit report because Equifax, Experian, and TransUnion have changed their complaint systems to let people dispute mistakes in greater detail. Now when you provide documents, the agencies have to forward that material to the creditor, letting you state your full case. The creditor then has to fix any errors with all three agencies. [CNN Money]

Consumers are Back to Paying Mortgages Ahead of Credit Cards

Americans are putting their mortgages ahead of their credit cards when they pay the bills, reversing an unusual pattern that had developed after the housing bust. As home values plunged during the downturn, consumers began to default on their mortgages while continuing to make credit card payments. [The Wall Street Journal]

Will the Apple iWatch be a Revolutionary New Payment System?

The Apple Worldwide Developers Conference begins on June 2 and one of the latest rumors has an Apple iWatch with an NFC chip being introduced at this conference.This might not sound like a big deal, but it could be the start of the largest revolution in financial payments since the credit card. [LowCards.com]

The Ripple Effects of Rising Student Debt

A collection of studies shows the burden of student debt may well cause people to make different decisions than they would otherwise–affecting not just individual lives but also the entire economy. It appears that people with student loans are less likely to start businesses of their own. Areas with higher relative growth in student debt show lower growth in the formation of small businesses. [New York Times]

Visa, MasterCard Renew Push for Chips in Credit Cards

Visa and MasterCard are renewing a push to speed the adoption of microchips into U.S. credit cards in the wake of recent high-profile data breaches, including this week’s revelation that hackers stole consumer data from eBay’s computer systems. They say it’s time to offer U.S. consumers the greater protections microchips provide by joining Canada, Mexico and most of Western Europe in using cards with the more advanced technology. [Associated Press]

CARD Act Fixed Many Abusive Practices, But Not All

The Credit Card Accountability, Responsibility, and Disclosure Act was signed into law five years ago and has since shed light on the once opaque pricing structure that allowed credit card companies to put the screws on customers. However, it has failed to prevent credit card companies from peddling useless debt-protection products and murky promotional financing deals. Industry lobbying resulted in carve-outs for bank-issued debit cards and prepaid debit cards, which continue to have minimal consumer protections. [Boston Globe]

MasterCard Takes Steps to Boost Cardholder Security

MasterCard said it has taken steps to boost security for its cardholders. MasterCard said all of its credit, debit, prepaid and small-business cards issued in the U.S. will now come with the company’s identity theft resolution assistance, which helps cancel missing cards and alert credit reporting agencies. Additionally, the program helps detect whether customers’ personal data have appeared online. [The Wall Street Journal]

Nordstrom Said to Gauge Banks Interest in Its Credit Cards

Nordstrom has begun reaching out to potential buyers including Capital One and Toronto-Dominion Bank to gauge their interest in purchasing their store-branded credit card portfolio. The retailer has also approached Citigroup and JPMorgan Chase. [Bloomberg]
/>

LowCards.com Weekly Credit Card Rate Report

Based on the 1,000+ cards in the LowCards.com Complete Credit Card Index, the average advertised APR for credit cards is 14.45%, slightly lower than last week’s 14.47%. Six months ago, the average was 14.42%. One year ago, the average was 14.27%. [Lowcards.com]

Provided by LowCards.com

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Fitbit Not Expected To Work With Healthkit
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Apple’s new health tracking App won’t connect to Fitbit devices
 
 
Retailers Dropping NFC Readers To Stop Apple Pay
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Merchants are removing support for Apple Pay
 
 
AT&amp;T Showing Lack Of Vision With New SIM Cards
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The company has busted the Apple SIM cards meant for travelers
 
 
The Stores of CVS and Rite Aid Stop Supporting Apple Pay
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CVS and Rite Aid are not accepting the service of Apple Pay from the last weekend
 
 
 

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Kim Kardashian West has thanked her step-father Bruce Jenner for teaching her ''so much about life''. The 34-year-old star took to her Instagram account to post a nostalgic black and white picture of the pair together...
Read more on Celebrity Balla
 
Ashton Kutcher's daughter has Twitter handle
Ashton Kutcher and Mila Kunis' daughter already has her own Twitter handle. The former 'That 70s Show' actors welcomed their first child, daughter Wyatt. into the world earlier this month and Ashton has confessed they...
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Mike Tyson used same 'low-life dealer' as Robin Williams
Mike Tyson has claimed he and Robin Williams used to use the same ''low-life dealer''. The retired boxer has opened up about battling depression and mental illness and admitted he used to chat with the late Hollywood...
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Pakistan lodges protest with India over civilian death
Islamabad, Oct 29 (IANS) Pakistan Wednesday lodged a protest with India through diplomatic channels over alleged cross border firing that killed a 70-year-old man. The civilian was killed in Rawalkot sector "due to...
Read more on Politics Balla
 
10 of a family killed in Egypt car crash
Cairo, Oct 29 (IANS) Ten members of a family were killed and 17 injured in a fatal car crash on a desert highway 80 km from here Wednesday, state media reported. The accident occurred as a private car carrying family...
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14 killed, 300 missing in Sri Lanka landslide (Roundup)
Colombo, Oct 29 (IANS) At least 14 people were killed and around 300 others are missing in a landslide in central Sri Lanka Wednesday as President Mahinda Rajapaksa directed the government to fully support rescue...
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