This week’s (un)lucky number is: $60 million
Now, this week’s number is only unlucky if you’re TransUnion. If you’re one of the consumers mistaken for a possible terrorist or drug dealer, you’re doing much better. TransUnion had to pay that $60 million to those customers after they filed a class-action lawsuit against the credit bureau. Read more about the case and these alleged terrorists and drug dealers here.
These are the things to look forward to this week.
Insert your (birthday) card: On Tuesday, the ATM turns 50 and boy, has it aged well. Not only is it prettier and thinner, but smarter, too. What used to be a big, clunky, metal box is now a computer, some of which will be able to recognize your face soon. Let’s just hope it doesn’t scarf down all the candles on the cake like my $20 bills it ate up and conveniently “forgot” to deposit recently.
It’s not what you think:
This isn’t some prank to get you to google something that’s NSFW
. The newest type pf card fraud is legitimately called bluesnarfing
. Despite having maybe the least intimidating yet most moronic name in the fraud game, this is a technique in which hackers can easily steal your card details using Bluetooth on a cellphone. If you’re snarfed, who should you call
? (Hint: It’s neither GhostBusters nor your mom, but your card issuer.)
Pay with pride: No, there’s nothing wrong with your eyes, you are seeing rainbows everywhere. It’s Pride Month, hence the parades and demonstrations and rainbow-colored marketing. U.S. Bank threw its hat into the multi-color ring this month, releasing a debit card in support of Pride. The company also put its money where its personalized card is, sponsoring the Human Rights Campaign.
What you might have missed last week.
Prime market: As Amazon sets its sights on another procurement, we’re all still freaking out a little that they bought Whole Foods like we buy detergent. There’s been some speculation that a Whole Foods credit card may be in store in light of Amazon’s credit card and new debit card offerings. I don’t know about you, but I could easily get in trouble charging my weekly Whole Foods salad bar run.
“If an app simply doesn’t work does it deserve even one star?” I won’t name names, but this is just one review of the many, many apps I slogged through to write about J.D. Power’s credit card app ranking
. There are lot of angry customers out there, and the lower your bank is on the list, the more likely you are one of them.
Tangled in the web
Here are things from around the internet that the CreditCards.com staff are reading.
The Fed put banks on a treadmill and made them run, resulting in concerns about credit cards. -Wall Street Journal
Can you spot merchants $70 billion? No? Well that’s how much they are expected to lose in card-not-present fraud in the next five years. -CardNotPresent.com
Venmo and PayPal have been training, and they’re getting quicker. -TechCrunch
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