Personal Finance

Austin, Texas - Approximately two in three credit cardholders typically use cash for purchases of less than five dollars. According to a new CreditCards.com report, a clear generational divide in the way Americans pay for small purchases means that might not be the case for much longer.

Rockville, Md. - American prepaid card users are the leading users of mobile payments. According to Prepaid and Gift Cards in the U.S., 4th Edition, a recent report by market research publisher Packaged Facts, smartphone penetration is actually higher among groups underrepresented by traditional banking products and services.

Boise, Idaho - More than half of back-to-school shoppers will not purchase computers this year. According to the Crucial.com Back-to-School Shopping Report, which includes responses from 1,000 adults in the U.S., found that 57% of respondents do not plan to purchase laptops, desktops, tablets, or mobile devices for school this year, as a vast majority of consumers are increasingly concerned with becoming more frugal.

Austin, Texas – Zales has the highest annual percentage rate (APR) on its private label card out of 61 U.S. retailers surveyed by CreditCards.com. According to the study, the retailers with the five highest maximum APRs are:

1. Zales, up to a 28.99% APR;
2. Office Depot Personal Credit, up to a 27.99% APR;
3. Staples Personal Account, up to a 27.99% APR;
4. My Best Buy, up to a 25.24% and 27.99% APR, depending on your credit score; and

Naples, Fla. – One-in-four global consumers has been victimized by card fraud in the past five years. According to a new study conducted by ACI Worldwide and Aite Group, the United Arab Emirates has the highest rate of credit, debit and prepaid card fraud overall at 44%, followed by China at 42% and India and the United States at 41% each.

Other findings include:

• 63% of global consumers (respondents) who have experienced fraud are more likely to use their cards less.

Boston – The Massachusetts House of Representatives has approved a bill that would gradually raise the state’s minimum wage from its current hourly rate of $8 to $11 by 2017, which would make it the highest state minimum wage in the country.

The state Senate has already approved the bill, which is expected to be approved by Gov. Deval Patrick (D) after a procedural Senate vote. Under the legislation, the minimum wage would rise to $9 per hour on Jan. 1, 2015; to $10 on Jan. 1, 2016; and finally to $11 on Jan. 1, 2017.

Boston — A joint committee of the Massachusetts state House of Representatives and Senate has filed a bill to gradually raise the state’s minimum wage from its current hourly rate of $8 to $11. The increase would occur in stages until reaching $11 in 2017.

Boston — A joint committee of the Massachusetts state House of Representatives and Senate has filed a bill to gradually raise the state’s minimum wage from its current hourly rate of $8 to $11. The increase would occur in stages until reaching $11 in 2017.

Washington, D.C. – U.S. consumer spending fell by $8.1 billion, or 0.1%, in April 2014. It was the first monthly decline in consumer spending since April 2013 and followed a 1% increase of $117.6 billion the previous month.

New York -- Intuit has entered into a definitive agreement to purchase Check, a mobile bill pay company with some 10 million registered users. The acquisition will help accelerate Intuit’s ability to offer bill pay across small business and personal finance products and create opportunities to retain, attract and serve additional customers.