Sep 24, 2020
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This Week In Credit Card News: How To Make Money While You Shop; Amex Paying Businesses To Accept Its Cards

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How to Use Cash Back Portals to Make Money While You Shop Cash back rebates are in a different way to save once you shop online. Thousands of online stores from Amazon to Zale s can pay you to purchase from them. To assert you cash you need to join a cash back portal site and make that purchase using the portal


You can join for free and mainly you ll get a sign-up bonus typically $5-$10. A cashback portal gets paid a commission from an affiliated retailer whenever a member clicks through an offer on its site and makes a purchase. The portal splits its commission with the member. [NBC News] Shopping on a cash back portal site may help you make some money while you shop GETTY AmEx Is Paying Up to Get Businesses to Accept Its Cards American Express wants more businesses to accept its cards


So this is paying them sometimes in amounts approaching a half-million dollars. The company is offering sign-on bonuses to a couple businesses that don t take its cards in a bid to catch up to rivals Visa and Mastercard. The payments range from under $10 000 to about $450 000. [The Wall Street Journal] Credit Card Debt Stressing You Out? You Aren t Alone Per a contemporary poll conducted by Morning Consult virtually 1/2 American adults have credit card debt


Unfortunately owing money on a credit card comes with more than just financial cost. The poll found that 60% of adults feel either some stress or a number of stress about credit card debt with 30% indicating that they worry plenty about what they owe. But stressing about money can also take a toll on your happiness


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As Election Day Nears Commit To Voting #ForEveryChild 40% of Credit Card Debtors Have Higher Balances Than Over Past Decade Nearly a 3rd (31%) of credit cardholders hold higher card balances than they ve had on average since 2009 amidst the Great Recession per the latest survey from Bankrate


The majority of cardholders feel about a similar (44%) or less stressed (33%) about debt on their credit card while only 23% are more stressed. [Bankrate] Millions Sign Up for Mobile Payments-But How Many Stick Around Long Term? Observers of mobile wallets have focused attention on user counts as a sign of adoption but that leaves open the question of how many of these consumers are becoming habitual users


As it turns out mobile-payments apps have a miles harder time retaining users than do banking apps. Globally just 16% of users on average return to a payment app the day after install and 30 days later that number has dipped to just under 6%. [Digital Transactions] Macy s Said Hackers Stole Customers Credit Cards—Again For the second one time in as decades Macy s customers were hit by a data breach involving hundreds and hundreds of credit cards


In a filing with the California attorney general the retail giant said hackers siphoned off customers names addresses and speak to numbers but also credit card numbers card verification codes and expiration dates by inserting malicious code on its website and quietly sending the stolen data back to the hackers


Macy s said the breach came about between October 7 and October 15. [Tech Crunch] 19% of Americans Don t Know This Crucial Credit Card Detail In an ideal world the interest rate attached for your credit cards wouldn t matter since you d pay your bills in full every month


Sincerely however many Americans routinely rack up credit card debt by carrying a balance. A stunning variety of Americans are clueless as to what that rate is. Per Northwestern Mutual s 2019 Planning & Progress Study 19% of U. S. consumers don t know what their credit card interest rate is. [USA Today] USAA Won $200M from Wells Fargo in Patent Fight


Will Others Be at the Hook? A contemporary court decision wherein Wells Fargo was ordered to pay $200 million to USAA for infringement of its patents on mobile deposit capture technology may have significant ripple effects around the industry. The technology at issue was developed by Mitek and is used by 6 500 other institutions


If the verdict stands it can mean many other institutions will have to negotiate with USAA to pay additional licensing fees for their mobile deposit tech. [American Banker] Mastercard Launches Urban Development Insights Tool for Cities Mastercard is now offering a data-analytics tool it developed in the cities of Dublin Chicago London and Helsinki to its full network of more than 40 member cities


City Insights was initially piloted in a handful of cities including in Dublin where it was used to assess how events and extreme weather could affect the local retail industry. Mastercard s tool is advertised as a manner for cities to gain timely insights into how their cities function. [State Scoop] Your Capital One Card Could Snag a Hot OpenTable Spot Your credit card may supply better access to restaurants during the real-time reservation network


Capital One has partnered with OpenTable to open the door for cardholders to dining hot spots nationwide during the Premium Access program. The program allocates some hard-to-get tables for cardholders. All Capital One cardholders can use this benefit but only during the OpenTable app. [U. S. News] Earn 500 Bonus Points with Your Contactless Chase Visa Card Chase has pop out with a new promotion for its cardholders offering 500 points to customers who use its relatively new tap to pay feature


You earn 500 points once you use your contactless Chase Visa for three transactions totaling $1. 75 or more. The offer is valid from Nov. 20 to Dec. 31 2019. [The Points Guy] Increase Your Credit Score With This 1 Trick This one personal finance trick can help increase your credit score


A new study from TransUnion explored how debt consolidation loans impact consumer credit performance overall debt load and credit health. TransUnion says that consolidating credit card debt with a personal loan can help increase your credit by more than 20 points. The 20+ point credit increase was consistent around the credit spectrum



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