Most Americans are well aware of their mortgage rate — especially after the Federal Reserve kept rates unchanged this week, leaving the 30-year fixed rate at 7.19% — but as for their credit cards, not many are aware of what they’re paying.  Credit cardholders collectively carry more than $1 trillion…

The National Retail Federation (NRF), the nation’s largest retail trade group, is urging Congress to pass the bipartisan Credit Card Competition Act (CCCA), saying it has the potential to save consumers and businesses $15 billion annually.  The trade group even went as far as launching a six-figure advocacy campaign Monday…

Californians are racking up the most credit card debt, according to recent data from personal finance website WalletHub.  Currently, consumers across the nation hold $1 trillion in credit card debt.In 2022 alone, $116 billion in new credit card debt was added as inflation continued to weigh on household budgets. In the…

An Ohio Taco Bell employee was arrested this month after allegedly scamming customers with fraudulent credit card transactions, reports said. “My card will never come out of my hand again. You can hand me the machine,” alleged victim and Taco Bell customer Crystal Orwig told WTVG/Gray News. “I’ll pay for…

Senator Josh Hawley, R-Mo., introduced new legislation this week to implement a federal cap on credit card interest rates as U.S. consumers rack up record-setting debt, but critics say the bill could have unintended consequences. The proposal comes as American consumers’ credit card debt surpassed $1 trillion for the first…

Small businesses are open to using artificial intelligence (AI) tools to boost their competitiveness and efficiency but have concerns about their ability to keep pace with evolving technology, according to new research from credit card giant Visa. Visa revealed the seventh edition of its Global Back to Business Study on…

Credit card balances grew the fastest among Gen Z cardholders in the second quarter of 2023, according to a recent TransUnion survey. Overall card balances surged to a record high of $963 billion in the second quarter, a 17.4% increase over last year, according to the survey. Gen Z’s growth was…

Intuit Credit Karma is launching a new tool on Wednesday that leverages generative artificial intelligence (AI) to help consumers with their financial questions. Intuit Assist for Credit Karma will allow consumers to get “highly personalized answers” to money questions they pose to the AI financial assistant tool. Ryan Graciano, co-founder…

Inflation, mortgage rates over 7% and credit card APR’s north of 20% have pushed all income brackets into living paycheck to paycheck, according to a new survey from Lending Club Bank. The paycheck-to-paycheck reality  “In July 2023, 61% of U.S. consumers live paycheck to paycheck, unchanged from June 2023, but…

Credit card debt hit a record $1 trillion for the first time ever as more consumers lean on their cards for everyday living.  While credit cards offer consumers a myriad of benefits, including convenience, rewards and cash back bonuses, there can be mistakes made that affect the rewards you’re reaping,…