Latest Credit card services News

How steep Fed rate hikes affect your finances

Sep. 21, 2022 14:08 PM EDT

NEW YORK (AP) — Mortgage rates have jumped, home sales have slumped and credit cards and auto loans have gotten pricier. Savings rates are slightly juicier, though. As the Federal Reserve has rapidly increased interest rates, many economists say they fear that a recession is...

GOP AGs push Visa, Mastercard, AmEx not to track gun sales

Sep. 20, 2022 13:45 PM EDT

NEW YORK (AP) — A group of Republican attorneys general are pushing the major payment networks — Visa, Mastercard and American Express — to drop their plans to start tracking sales at gun stores, arguing the plans could infringe on consumer privacy and push legal gun sales out of the...

As 'buy now, pay later' plans grow, so do delinquencies

Sep. 15, 2022 12:50 PM EDT

NEW YORK (AP) — Americans have grown fond of “buy now, pay later” services, but the “pay later” part is becoming increasingly difficult for some borrowers. Buy now, pay later loans allow users to pay for items such new sneakers, electronics, or luxury goods in...

EXPLAINER: What to know about 'buy now, pay later'

Sep. 15, 2022 09:59 AM EDT

NEW YORK (AP) — Since the start of the pandemic, the option to “buy now, pay later” has skyrocketed in popularity, especially among young and low-income consumers who may not have ready access to traditional credit. If you shop online for clothes or furniture, sneakers or...

Visa, Mastercard, AmEx to start categorizing gun shop sales

Sep. 10, 2022 19:54 PM EDT

NEW YORK (AP) — Payment processor Visa Inc. said Saturday that it plans to start separately categorizing sales at gun shops, a major win for gun control advocates who say it will help better track suspicious surges of gun sales that could be a prelude to a mass shooting. But the...

Visa's profits jump 32% as consumers start traveling again

Jul. 26, 2022 18:35 PM EDT

NEW YORK (AP) — Visa Inc. said Tuesday that its fiscal third quarter profits rose 32% from a year earlier, helped by yet another double-digit rise in the amount of money processed on its credit and debit card network. The payment processing company said it earned a profit of $3.4...

In your debt: 3 times debt can be a helpful tool

Jul. 22, 2022 12:00 PM EDT

In some corners of the personal finance advice world, getting into debt is just about the worst thing you can do. And yes, some forms of debt — particularly those that charge high interest rates — can keep you locked in a cycle of owing money for years. Still, there are times...

AmEx 2Q profits fall 14% despite higher cardmember spending

Jul. 22, 2022 07:54 AM EDT

NEW YORK (AP) — American Express' profits fell 14% in the second quarter, the company said Friday, as higher expenses more than offset record spending on its network by its cardmembers. AmEx had profit of $1.96 billion, or $2.57 a share, down from $2.28 billion, or $2.80 a share,...

Wells Fargo profit falls buy loan growth buoys investors

Jul. 15, 2022 14:47 PM EDT

Wells Fargo, the nation’s largest mortgage lender, saw its second-quarter revenue and profit decline as rising interest rates pushed people out of the housing market. The San Francisco bank earned $3.1 billion in the period, or 74 cents per share, coming up short of the 80 cents...

Liz Weston: 3 lessons I wish I’d learned sooner about travel

Jun. 30, 2022 09:07 AM EDT

Almost every trip teaches me something about myself, the world and what not to do next time. Here are three hard-won travel lessons that may help you learn from my mistakes. COBBLING TOGETHER FLIGHTS ISN’T WORTH THE SAVINGS Whenever possible, I book nonstop flights....