Credit Cards

The life of a student is often spent on a very tight budget, and typically results in thousands of expensive debts like student loans.  But students attending Yale University are finding their finances are being setback even further as a wave of credit card fraud appears to be descending across the school campus.

The Target credit card data breach forever altered how Americans purchase new products using their cards.  The breach exposed personal information on over 70 million Americans, and fast tracked efforts by US lawmakers to improve security at point of sale terminals as well as online.

The breach was first uncovered on Black Friday in the fall of 2013, which is one of the busiest shopping seasons of the entire year.  After the severity of the breach was publicized, victims sought repercussions from the retailer, which included a class action lawsuit.

When Apple Pay debuted in the fall of 2014, the country’s largest banks lauded the mobile payment solution as “the future, so it’s great.” Flash forward five months and the volume of credit card fraud connected to Apple Pay is outpacing the amount of fraud associated with traditional credit cards.