credit card

Sen. Bernie Sanders (I-Vt.) announced plans to introduce legislation supporting President-elect Donald Trump‘s proposal to cap credit card interest rates at 10%, as credit card defaults reach their highest levels since the 2008 financial crisis. What Happened: Major credit card companies saw...

U.S. credit card loan defaults have skyrocketed to levels unseen since the 2008 financial crisis. Credit card lenders wrote off a staggering $46 billion in seriously delinquent loan balances in the first nine months of 2024 What Happened: This figure, which represents a 50% increase from the same...

In a significant data security incident, 5 million credit and debit card numbers, along with customers’ financial records and personal details, have been exposed, raising the risk of financial fraud and identity theft for millions of Americans. What Happened: The data security company Leakd ...

American Express Company (NYSE:AXP) is poised to become the sole owner of Swisscard after UBS Group AG (NYSE:UBS) announced plans to sell its 50% stake. This comes just days after American Express reported mixed third-quarter results, with revenue slightly below analyst expectations. What Happened...

American Express Co (NYSE:AXP) will be reporting its third-quarter earnings on Oct. 18. Wall Street expects $3.80 in earnings per share and $16.67 billion in revenues as the company reports before market hours. The stock is up 84.29% over the past year, 51.1% year-to-date. Let’s look at what...

Credit delinquency is on the rise. High credit card rates and enduring inflation are hurting consumers, especially those considered “Gen Z.” Here’s the latest New York Fed data about the American consumer. The Data: The New York Fed's Center for Microeconomic Data released its...

The sight of free food is often too exciting to pass. To make it even better, free food at airport lounges across the world is both a money saver as well as an option that allows you to try different cuisines and local tastes the moment you set foot in a new country. Airport food can be costly, too...

Visa Inc (NYSE:V), will be reporting its second-quarter earnings on Tuesday. Wall Street expects $2.44 in EPS and $8.62 billion in revenues as the company reports after market hours. The company has been delivering an earnings beat over the last four quarters. The stock experienced significant...

Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA) have made headlines with their groundbreaking $30 billion settlement with U.S. merchants. The settlement effectively ends two decades of antitrust litigation surrounding swipe fees and merchant restrictions. Redditor WoodKite echoed the news on r/...

Robinhood (NYSE: HOOD), the popular trading platform, is undergoing significant internal changes, including layoffs and team reorganizations, as it shifts its focus towards the credit card sector.  This latest batch of job cuts comes in response to a dwindling monthly active user...

Microsoft Corp. (NASDAQ: MSFT) announced the launch of Xbox credit card in partnership with Mastercard Inc (NYSE: MA). The Xbox Mastercard will be issued by Barclays (NYSE: BCS) with no annual fees but with many benefits for U.S. Xbox users, who will be able to use the...

The United States is grappling with a surge in credit card debt, and even the world's wealthiest person Elon Musk has voiced his concerns about the issue.  During Tesla Inc.'s second-quarter 2023 financial earnings call, Musk said the current state of credit card debt is genuinely concerning....

After Visa Inc (NYSE: V) reported its third-quarter earnings, analysts weighed in on the stock. Raymond James analyst John Davis reiterated Visa Inc (NYSE: V) shares with an Outperform and raised the price target from $282 to $284. Davis said the re-rating followed solid...

Mastercard Inc (NYSE: MA) inked a pact with HealthLock to launch an online platform for protecting consumers from healthcare fraud, overcharges and medical billing errors. The partnership will initially open HealthLock's analytics-backed healthcare services to U.S.-issued...

Cryptocurrency exchange Bybit on Saturday announced the suspension of USD deposits via bank transfer, citing service outages from their partner.  Effective immediately, USD deposits via Wire Transfer (SWIFT) and Wire Transfer (For US banks) are no longer available, it stated. The company has...