Living with credit, Protecting yourself, Rewards

Closing cards and other credit news to know this week

Taylor Tompkins

This week’s (un)lucky number is: 19 percent

That’s the number of smartphone users who use mobile payments at the register. It’s not so much that these users are unlucky, but it’s just rather unfortunate that mobile wallets and contactless cards still haven’t hit the levels of frequent usage that many people thought they would. We’ve fallen far behind the U.K. in mobile payments usage and may not have a use for Apple Pay’s new facial recognition. If that’s not enough peer pressure, would you do it if the guy next to you in Whole Foods did?

This week

These are the things to look forward to this week.

When one card closes: You pay your bills, you’re an upstanding citizen. So why was your credit card canceled suddenly? Well, it turns out, you may not be as good of a credit card holder as you thought. Here are six reasons why your account may be abruptly closed (only one of which is not paying your bill). If you were blindsided and not in a Sandra Bullock way or just canceled a card yourself, here are some tips on how you can lessen the impact on your credit score.

Check yourself: Your mom hates your significant other, your rent is too high, and you don’t think you’re going to get that promotion at work. I can’t help you with any of those issues, but maybe you should reflect on those things this Thursday since it’s Evaluate Your Life Day. While you’re at it, evaluate the credit card you have in your wallet and think about applying for one of the best rewards cards to put a little bit more money in your pocket.


What you might have missed last week.

Equi-smacked: If you didn’t hear, Congress put the smackdown on the former CEO of Equifax and is considering further regulations on credit bureaus who collect your information without your consent. You’re also not the only one obsessively checking your credit report since the hack.

The little things: In the barrage of bad news (hurricanes, sexual assault, nuclear threats) you just want to stay at home, curl up on your couch and eat your feelings with a side of garbage television. If you’re willing to pause your escape to Shondaland for a half a second, maybe think twice about ordering in for the fourth time this week.

Tangled in the web

Here are things from around the internet the staff are reading.

Another hack, this time at Hyatt. –Reuters

Bad guys pretend to be good guys to steal your credit card. –The Nonprofit Times

This guy is so messed up, he thinks his dollar is a credit card. –Digg

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