Old credit cards can be made into guitar picks, phone stands and more

On credit and debit cards, magnetic stripes have been slowly replaced by microchips that use dynamic, encrypted data to prevent card cloning and counterfeit fraud.

Managing too many credit cards can be costly if they have annual fees

However, canceling cards must be strategic if it becomes necessary, as it can negatively impact your credit score. Before canceling, experts suggest asking if it's possible to downgrade to a no-annual-fee version in order to keep the account open, thus preventing potential hits to your credit score.

Microchips in payment cards improve security by generating unique transaction codes

Magnetic strips store unchanging data that is easily cloned, but microchips act as miniature computers that encrypt sensitive data. They also resist fraud by creating data unique to each transaction, preventing duplication.

Why there are microchips in credit cards

Credit cards have evolved significantly since their invention in 1950, but security lagged in the US for years. Despite handling only a quarter of global transactions, the US once accounted for half of all credit card fraud. The 2013 Target data breach helped push the adoption of chip cards, reducing fraud but shifting risks to online scams.

Over one-third of Americans have lost money on a gift card

They've done so by letting it expire (20%), losing the card (17%), or due to a retailer going out of business before they could redeem a card (12%). That's according to The Wall Street Journal, which cited Bankrate research from 2024. This article explains how to maximize your gift card's value.

Contactless credit cards descend from a batteryless Cold War listening device

The same physics that let Soviet spies eavesdrop on the US ambassador in 1945 underlie contactless payment methods today. The device is a passive chip powered wirelessly by incoming radio waves.

See an original Diner’s Club charge card

Before credit cards, there were charge cards from companies like Diner’s Club. While credit cards allow cardholders to carry a balance from month to month (potentially accruing interest), charge cards like Diner’s Club cards had to be paid off right away.

Watch how metals are extracted from rechargeable devices during recycling

Recyclable batteries found in cars, phones, power tools, and other electronics contain lithium, cobalt, nickel, and other precious metals, whose reuse generates 70% fewer emissions than during their initial mining. Upon shredding these devices, a filter press squeezes the pieces through a proprietary fluid, which separates them for future reuse.

Financial institutions check for lots of things before authorizing a purchase

Before authorizing a purchase, card issuers consider whether or not the cardholder has a high enough available credit limit to make the purchase, where the purchase is being made in order to reduce fraud, and more.

How to safely dispose of every kind of battery

As lithium-ion batteries have proliferated in phones, e-bikes, power tools, and dozens of other devices, improper disposal has become a leading cause of fires in recycling facilities and garbage trucks. Battery Safety Now partnered with the US Forest Service's Woodsy Owl campaign to provide guidance on how to recycle batteries by type, including locator tools for drop-off sites.

Cardboard thieves are making millions

The global market for recycled cardboard is worth billions of dollars—and it's attracting criminals. Specifically, people are making a fortune from taking used cardboard that's been left outside to be recycled, then proceeding to sell it. As a result, legitimate recycling firms and local authorities are missing out on millions. Learn more here.

Rewards credit cards can offer points, travel miles, and more

For every dollar that a cardholder spends on a rewards credit card, they can also receive benefits such as cash back, airline miles, and more. For many, rewards are the reason they make so many purchases on credit cards in the first place.

Explore options for recycling batteries

Improper battery disposal can lead to fires and the leaching of harmful chemicals and toxic materials into local soil and water systems. Although many batteries contain metals that can be recycled with less energy than it takes to produce them, variability in regulations across municipalities and states can complicate efforts. (Some readers may experience a paywall.)

The history of credit cards begins with the 'Fresno Drop.'

On a 1958 morning in Fresno, California, about 60,000 people woke up to find a strange rectangular piece of plastic on their doorstep without explanation. Those chosen for the "Fresno Drop" didn't know it yet, but Bank of America was behind the credit card delivery stunt.

Credit card companies make money through interest, annual fees, and more

They also profit from interchange fees, the fee the retailer has to pay the credit card network in order to facilitate a transaction. The fee is typically between 1% and 3% of the transaction amount.

Gas stations top the list of riskiest places to use a debit card

Unlike credit cards, debit cards withdraw funds directly from your checking account, and federal laws provide fewer consumer protections against debit fraud. Gas station "skimmers" and long periods of separation from the card at restaurants are some of the more vulnerable spots for use.

Privacy concerns in the credit scoring system

Because credit scores use a lot of personal information (such as whether or not someone makes credit card payments on time), some worry their privacy is being compromised in the data collection process.

Card issuers are financial institutions that open credit to customers, while card networks facilitate purchases between merchants and customers

Card issuers give customers credit cards, set rate limits, and collect payments. Card networks, on the other hand, dictate where credit cards can actually be used by managing relationships between the network and merchants. These networks make money on interchange fees, which merchants pay to accept a specific card network at their stores.

Algorithms built to detect credit card fraud can deny charges if they perceive the attempted purchase is unfamiliar or unusual based on historical data, even when a person has enough credit to make the purchase.

Who actually pays for your credit card rewards?

In 2018, 92% of all credit card spending was made on a rewards card, which seems like a good deal to many who apply for rewards cards offering discounted flights, points, and more. But in actuality, the customers are often the ones who end up paying for the rewards in the grand scheme of things.

Charge cards are different from credit cards

Unlike credit cards, charge cards often don’t have a preset credit limit, but cardholders need to pay off the entire balance every month.

Credit limits can be lowered as well as increased

Some common reasons for someone's credit limit being lowered include missed payments, an inactive account, and more.

American Express is targeting Gen Z, who are generally less risk-averse than older generations

Unlike Millennials, who grew up during the Great Recession in 2008, Gen Z has a higher risk appetite and has grown up with more gamified spending platforms, like online gambling and prediction markets. Analysts say Gen Z's risk appetite makes them prime targets for credit card companies like American Express that can sell younger customers on large benefits in exchange for annual fees.

Why Americans are drowning in credit card debt

Americans owe more than $1T to credit card companies. And with rising interest rates that prevent cardholders from paying down debt (not to mention the rising cost of living), that number is likely to keep growing. A podcast episode explains how the US got here, and what policymakers and individuals can do about it.

How to check your credit score

Contrary to popular belief, checking your credit score doesn’t hurt your credit. Many credit card companies show your score when you log into their app online, but there are other ways to check it.

Hackers once used 'Fortnite' to clean money from stolen credit cards

Hackers using stolen credit cards would create "Fortnite" accounts and purchase V-bucks, the in-game currency. The hackers would then sell the entire "Fortnite" account on sites like eBay. For instance, an account with $100 worth of stolen V-bucks might sell $25 on eBay.

Fiberglass and epoxy resin on blades complicate the recycling of wind turbines

Between 85 and 95% of a turbine's materials—except for the blades—can be recycled. Blades have been left in landfills when not repurposed into playgrounds and sheds, but new processes may allow them to be made into pellets for injection plastics and concrete.

Credit card issuers determine your credit limit using your payment history, income, and more

Some credit card issuers also take your other payment obligations into account when determining your credit limit, such as the cost of your rent or alimony.

How to rebuild your credit score

It's easy to let your credit score slip without realizing it. Checking your credit score and getting to know what's on your credit report are the first steps to getting to the "700 club," or "good score" range, according to one financial expert.

American Express debuted its first charge card in 1958 to give travelers access to cash abroad

The original American Express charge card was made of purple paperboard and allowed customers to book travel. Unlike credit cards, the card's balance had to be entirely paid off each month. When the card first launched, 250,000 customers used it, and 17,500 companies had agreed to accept it.

Listen to a podcast episode from 1440's editor in chief that explains how a credit card transaction works behind the scenes.

When you buy even something as small as a $5 latte, a global relay between banks and networks like Visa and Mastercard is triggered. It all started with a 1958 campaign from Bank of America that jump-started the credit card revolution.

American Express was the first company to offer 'gold' cards to borrowers

American Express began offering gold cards to affluent consumers in 1966. However, other credit card companies began offering similar, premium cards in the 1980s, which quickly became a status symbol for wealthy Americans.

A credit card’s grace period is a minimum of 21 days

Under federal law in the United States, an individual’s credit card payment due date must fall on the same day of each month, at least 21 days after the cardholder’s statement closing date.

Master the banking basics

Before deciding on a credit union, it’s important that you understand the basics. That way you can know exactly what’s happening with your hard-earned money behind the scenes. Flip through these flashcards to make sure you understand key terms like “deposit” and “checking account.” Then, you can read up on top banking products and start to find a credit union that works for you. Click here, then scroll down the page to find the cards.

An explanation of hard credit checks vs. soft credit checks

Some buy now, pay later services do a soft credit check rather than a hard credit check, like credit card companies would do when someone applies for a card. While hard credit checks can impact your credit score, soft pulls typically do not.

American Express is both a card issuer and a processing network

Unlike most credit card companies, American Express issues credit cards and processes payments—something called a closed-loop model. By offering both services, American Express profits from both interest and interchange fees, and also has access to more data on how customers spend their money so it can offer better perks.

See if you can maintain a perfect credit score with this game.

Up to to $68M in coins ends up in American landfills each year.

Waste facilities and TSA say they collect thousands of dollars of discarded money per year. A Wall Street Journal reporter visited a waste facility and learned what you can do with your extra change.

Visa, the first credit card network, still dominates competitors with a roughly 52% market share by purchase volume.

Among the major credit card companies in the US, Mastercard had about 25% of the market share in 2025. American Express had roughly 20%, and Discover had the smallest market share of about 4%.

Merchants have to pay credit card transaction fees each time a card is swiped

Credit card networks such as Visa, Mastercard, and American Express must calculate fees for not only the customer, but also the merchant in every transaction.

3D printing has made musical instruments more accessible

Violins fabricated from durable plastic, rather than being built from wood, can cost hundreds of dollars less, allowing children to try them out without financial pressure. They can be made in colors that appeal to children, sizes tailored to their bodies, and with tactile guides to help visually impaired learners.

Affirm's COO recently said that the company believes the credit card is 'going the way of the VHS tape'

Some people use buy now, pay later apps as an alternative to credit cards. BNPL services have a lower barrier to entry than credit cards—many frequent BNPL users have low credit scores.

The Platinum American Express card is among the most expensive mainstream travel credit cards

American Express charges a $895 annual fee on its Platinum Card in exchange for nearly $3.5K worth of credits and benefits. Some of the credits include a $600 for hotels, a $400 credit at restaurants with Resy, a $300 Lululemon credit, and even a $200 credit at Oura ring. (Some users may experience a paywall.)

American Express runs on a 'spend-centric' model, using perks and merchant fees to drive profit

American Express cardholders tend to spend more money per transaction than other credit card users, which makes the interchange fees merchants have to pay to accept American Express cards worth it while incentivizing other companies to pay the interchange fee as well.

In 2025, American Express paid $230M to settle fraud and deceptive marketing charges

American Express launched a wire payment service targeted at small businesses and falsely touted the service as a tax-deductible business expense in 2018. American Express was also accused of allowing small businesses to open corporate credit cards without the necessary employer identification number (EIN).

Experts say those receiving year-end bonuses may want to pay down high-interest debt

Experts say other sound options for spending bonuses include topping off an emergency fund or putting more money away for retirement.

Watch a video that visualizes what really happens inside a credit card network when you make a purchase.

Customers wrote just one check a year in 2024, on average

Major retailers like Target have stopped accepting checks in recent years as real-time payment systems are increasingly being implemented across the US. This shift is considered an improvement in safety—as checks are vulnerable to fraud—but can lead to some exclusion for those without access to digital devices.

Credit scores seriously suffer when individuals file for bankruptcy, and there’s no easy fix

Those who file for Chapter 7 must wait 10 years before the bankruptcy is removed from their credit report. For Chapter 13, the wait time is seven years.

View the estimated decomposition times for various everyday plastic products, which often fragment into smaller microplastics as molecular bonds are weakened by sunlight.