This Week In Credit Card News: Cards Offering Extra Holiday Rewards; Strengthen Your Passwords

Yes, People Are Still Using ‘123456’ and ‘password’ as Their Password

When it comes to updating passwords, we are creatures of habit — and change is hard. According to new research, people are still using easy-to-hack passwords like “123456789,” the word “password,” and “iloveyou.” Of the 200 worst passwords, “123456” is the most commonly used of 2020, with 2,543,285 people choosing it. It takes less than a second to crack. [CNN]

Some credit cards are offering extra rewards during the holidays


Citi to Give Select Cardholders 5% Cash Back for Online Shopping

Citi will be offering 5% back on up to $500 of online purchases that are made between Tuesday, November 24 and Monday, November 30, a period which spans Thanksgiving, Black Friday and Cyber Monday. You must opt in with your qualified credit card to activate this promotion. The offer excludes new cardholders. The reward maxes out at $25. []

Business Insider]

Credit Card Debt Is Falling. That’s Good News and Bad News

A report by the New York Federal Reserve found that credit card debt is falling. That’s good news, right? Well, yes and no. The report says people have been using their savings to pay off existing credit card debt which is good news. But money spent paying off debt on credit cards is money that’s not flowing into the economy. [Marketplace]

MORE FOR YOU 5 Ways Joe Biden Could Change Unemployment Insurance No, Joe Biden Can’t Forgive $50,000 Of Student Loans

Keep reading this article on Forbes Small Business.

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