transactions

Your Secret Weapon in Merchant Disputes: The Chargeback

Credit cards can protect you against fraudulent charges, and some can bag you cash-back rewards. But perhaps the best thing about paying with a credit card is that in the event of a dispute with a merchant, it provides the ultimate ace up your sleeve: the chargeback.

BofA Settles Overdraft Fee Suit for $410 Million

More than 13 million Bank of America debit-card customers could see some repayment for excessive overdraft fees the bank charged them over the course of a decade. A federal judge has approved a $410 million settlement to compensate customers who were charged fees as a result of the bank posting transactions from highest to lowest dollar amount, rather than in the order they occurred.

Consumers May Get Hit With Higher Debit Card Fees

New rules proposed by the Fed for debit card transactions may mean that consumers end up paying much more for using their cards, while big retailers save billions. The proposed rules would sharply limit the transaction fees sellers have paid, which could push banks to recoup that money directly from buyers.

Goodbye Credit Cards, Hello Smartphones

The smartphone revolution is about to upend another business: credit card processing. With Google's new Android app that allows you to literally pay by phone, and Square's new hardware that turns any iPhone into a transaction processor, your plastic could become obsolete.