Recent Articles:
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In an effort to keep their credit ratings in good standings, consumers are repaying their credit card debt in a timely manner, with delinquency rates for the second quarter of 2011 reaching the lowest levels experienced since the third quarter of 1994, according to a new report.
- Tue Aug 16 2011 |
Media outlets have been rife with reports of the slumping economy and its dour statistics, and the latest comes from the Internal Revenue Services, which recently reported that U.S. incomes dropped sharply in 2009.
- Wed Aug 10 2011 |
Consumers borrowed more money in June than in any other month for nearly four years, the Federal Reserve announced August 5.
- Mon Aug 8 2011 |
A survey of 31 state, county and city agencies in 18 states found that in 2010, consumers ranked credit card and debit companies as the second-biggest gripe because of billing and fee disputes and aggressive tactics to collect debts, Fox Business reports.
- Thu Aug 4 2011 |
Despite Senate’s resolution to raise the debt ceiling on August 2, stocks still experienced declines, according to the New York Times.
- Tue Aug 2 2011 |
Consumer spending dipped in June for the first time in nearly two years and incomes experienced meager growth, according to new numbers reported August 2 by the Commerce Department’s Bureau of Economic Analysis.
- Tue Aug 2 2011 |
The number of new college credit card accounts dropped 17 percent from 2009 to 2010, a new report by the Federal Reserve Bureau found.
- Mon Aug 1 2011 |
Numerous Americans continue to struggle with their credit card balances, unable to harness their spending and pay down their balances by the end of each billing cycle.
- Fri Jul 29 2011 |
Recent reports have accredited the the drop off in credit card balances during the past two years to bank charge offs, giving little praise to consumers for more responsible financial management.
- Thu Jul 28 2011 |
On July 21, consumers who are denied a loan will have an extra layer of protection with a new regulation from the Consumer Financial Protection Bureau.
- Thu Jul 21 2011 |
Recent media reports and surveys show that while consumers are pessimistic about the economy’s future - a sentiment aided by Congress’ struggle with the national debt ceiling - personal debt is rising.
- Thu Jul 21 2011 |
The Consumer Financial Protection Bureau on Thursday will roll out a new tool to help consumers in search of debt relief.
- Wed Jul 20 2011 |
A recent report by ID Analytics found that approximately 16 percent of Americans have deliberately committed some form of identity manipulation themselves.
- Thu Jun 30 2011 |
Many people who have a habit of financial trouble attempt to create a budget, but many times these plans fail, as consumers seldom stick to them, according to Investopedia.
- Wed Jun 22 2011 |
American consumers are vacationing more than last summer, but the distances they travel are projected to decrease for the next few months, according to a survey by Cambria Suites.
- Fri Jun 10 2011 |
A recent study by Prosper Technologies predicts that several major retailers could see an increase in sales over the next three months, but this may not mean extra money for the stores.
- Thu Jun 9 2011 |
A recent study from the U.S. Federal Reserve showed consumer borrowing increased for the seventh month in a row.
- Wed Jun 8 2011 |
A recent report by Moody's Investors Service showed consumer charge offs dropped during the month of April, and the company thinks the trend could continue as consumers become more confident, according to Bloomberg.
- Wed May 25 2011 |
A recent report by TransUnion showed the rate of credit card delinquencies are at their lowest point since 1996.
- Mon May 23 2011 |
A recent report showed lenders are becoming more confident in extending credit to riskier consumers, which may be a sign that the economy is gaining strength.
- Mon May 23 2011 |
A recent report by Pew Health Group outlined the risk business credit cards pose to consumers.
- Wed May 18 2011 |
A recent report by Fitch Ratings revealed credit card charge offs and delinquencies are at their lowest points in years.
- Tue May 17 2011 |
Capital One recently announced defaults dropped nearly a full percentage point during the month of April, possibly signaling American cardholders are tackling their credit card debt.
- Mon May 16 2011 |
While credit cards can be a great way to help build a consumer's FICO rating, some cards are better than others. Store-specific cards tend to have high interest rates and longer repayment times, and may not be the best avenue to go down.
- Fri May 13 2011 |
A recent study found credit card fees and interest rates have stabilized after two years of important legislation.
- Wed May 11 2011 |
Despite plans to curb banks from supplying credit cards to college students, many issuers are finding ways around the law.
- Tue May 10 2011 |
If you have a history of credit card debt, or recently hit a snag in your finances, there are cards available that are tailored to your position.
- Tue May 10 2011 |
A recent report found credit card losses for U.S. cardholders improved over the course of the first quarter of 2011, which may signal a more solid consumer credit situation.
- Mon May 9 2011 |
Stay-at-home parents may have difficulty obtaining credit cards due to new federal regulations designed to discourage debt.
- Wed May 4 2011 |
Bank of America credit cardholders could see higher interest rates in the coming months, as the company will introduce a penalty fee of nearly 30 percent.
- Fri Apr 29 2011 |
With a significant amount of college students graduating with credit card debt, it is wise to teach kids about finances from an early age. Providing them with checking accounts over prepaid cards may be a good start.
- Wed Apr 27 2011 |
If you are already in credit card debt and have a mortgage bill coming up, do not neglect either, as failed payments can ruin credit scores quickly.
- Tue Apr 26 2011 |
A recent study by Visa revealed more Americans are becoming comfortable with using their credit cards, especially when traveling abroad.
- Mon Apr 25 2011 |
A large portion of young people are accruing debt at the start of their careers, and other than the difficult nature of the economy, a general lack of financial knowledge is being blamed for these shortcomings.
- Mon Apr 25 2011 |
Avoiding credit card debt and having a good rating are very positive things for consumers, but a recent report revealed those with a strong financing history may be at higher risk for strategic defaults on mortgages.
- Mon Apr 25 2011 |
A recent poll discovered consumers prefer receiving cash back as a reward over any other option.
- Fri Apr 22 2011 |
A recent study revealed that approximately 25 percent of consumers are using prepaid cards, which is a significant increase from one in every seven consumers, a year ago.
- Wed Apr 20 2011 |
In the wake of the Credit Card Accountability, Responsibility and Disclosure Act of 2010, financial institutions have changed their policies to make it more attractive for students to open accounts.
- Tue Apr 19 2011 |
Those who are currently losing their debit card rewards because of recent legislation, may want to look into their bank's credit card offers.
- Mon Apr 18 2011 |
Capital One Financial Corp. recently announced charge offs for U.S. customers fell, which may be a promising sign for the economy.
- Fri Apr 15 2011 |
The U.S. Commerce Department recently announced retail sales rose 0.4 percent during the month of March.
- Wed Apr 13 2011 |
Debt for student loans is likely to continue its climb past credit card debt, and it is predicted that these loans will reach above $1 trillion this year.
- Tue Apr 12 2011 |
Since the Credit Card Accountability, Responsibility and Disclosure Act of 2009 became law, banks have doubled promotional mailings.
- Wed Apr 6 2011 |
Credit card delinquencies for accounts issued by banks are down to their lowest point in nearly a decade.
- Tue Apr 5 2011 |
It is extremely easy to get into debt, and can be very difficult to exit.
- Wed Mar 30 2011 |
College students that are starting out with credit cards should be aware at how important good credit is, as it will shape their financial planning for the rest of their lives.
- Wed Mar 30 2011 |
Many credit card companies offer debt protection, which ideally would help deflect payments when a tough financial situation comes along.
- Wed Mar 30 2011 |
The trend of consumers paying their credit card bills over their mortgages has declined for the first time since the trend began three years ago.
- Tue Mar 29 2011 |
Wells Fargo has ended both of its credit and debit card rewards programs, because of new regulatory changes that will affect debit card fees.
- Mon Mar 28 2011 |
All credit card rate hikes since January 2009 are going to be reviewed, and this could mean lower rates for millions of cardholders.
- Mon Mar 28 2011 |
The Consumer Financial Protection Bureau will gain full regulatory power in July, but the Consumers Union wants to see more than what is promised by the watchdog.
- Fri Mar 25 2011 |
Those who are afraid of the Credit Card Accountability, Responsibility and Disclosure Act of 2009's effect on the availability of free checking may be worrying unnecessarily; it could actually benefit them in the long run.
- Tue Mar 22 2011 |
The national credit card 90-day delinquency rate fell to 0.82 percent in the last quarter of 2010, showing signs that consumers are starting to tackle their expenses better now than in the past few years.
- Mon Mar 21 2011 |
The Credit Card Accountability, Responsibility and Disclosure Act of 2009 has put stringent regulations on credit card companies, aimed to help those that are either trying to avoid debt, or prevent young people who are likely to get into a bad spot from doing so.
- Fri Mar 18 2011 |
The credit card default rate for Bank of America has fallen to its lowest point since February 2009, showing that cardholders are starting to pay their bills on time.
- Wed Mar 16 2011 |
There looks to be a large rift in credit card debt between minorities and whites, with African Americans holding onto a large chunk of the debt.
- Fri Mar 11 2011 |
Many Americans are not confident enough to go back to their previous spending habits regarding credit cards, even though the U.S. government reported that overall credit card debt is lower than it has been in six years.
- Thu Mar 10 2011 |
The Durbin Amendment to the Dodd-Frank Consumer Financial Protection Act, along with Regulation E adjustments, are predicted to make financial institutions lose large sums of money, and plans are currently in the works to combat this by raising debit card fees.
- Wed Mar 9 2011 |
Since the Credit Card Accountability, Responsibility and Disclosure Act of 2009 was implemented, studies have noticed a stalling in the number of college students who accrue credit card debt.
- Tue Mar 8 2011 |
The Credit Card Accountability, Responsibility and Disclosure Act of 2009 has had a positive effect on card users, as it has made terms clearer, capped penalty fees and revamped interest rates
- Mon Mar 7 2011 |
A new policy that will install a two-tiered debit interchange system to lessen the gap between small banks and credit unions and the larger debit card issuers.
- Fri Mar 4 2011 |
The national credit card debt average is currently $4,284, a four percent decrease from a year ago, but the current state of debt is a worrisome prospect.
- Thu Mar 3 2011 |
Smarter shopping practices by consumers are turning out to be the driving force for people who have not used credit cards as much as they had last year.
- Thu Mar 3 2011 |
Those that are in need of filling the gap between health insurance coverage and the final medical bill amount may want to stay away from healthcare credit cards.
- Wed Mar 2 2011 |
In recent months, there have been a number of signs that consumers are getting their spending and outstanding debt payments under control. Now, these factors are contributing to increased consumer confidence, according to a new report.
- Mon Feb 28 2011 |
This week, Capital One Financial reported it conducted fewer write offs on consumer credit card accounts and received fewer late payments from customers in January.
- Thu Feb 17 2011 |
Due to recent regulations that set caps on debit fees payment processors can collect on merchant transactions, credit card issuers have implemented a number of new charges to existing products to raise revenue.
- Wed Feb 16 2011 |
During the holiday season, many consumers used their credit cards more for purchases. As a result, retailers and issuers saw big revenue boosts and many predicted the recovery could soon be in full swing.
- Tue Feb 15 2011 |
For the third straight month, consumer stress is on the rise, according to the Consumer Reports Index for February.
- Fri Feb 11 2011 |
As a result of the increased debt, many Americans are carrying, consumers across the country have turned to cash, prepaid cards and debit options to stay on budget.
- Fri Feb 11 2011 |
At the end 2010, many consumers moved away from using credit cards for payments so they could sticking tightly to their monthly budgets and make their necessary payments.
- Thu Feb 10 2011 |
Many consumers across the country are living paycheck-to-paycheck and watching their budgets closely in order to stay afloat financially.
- Wed Feb 9 2011 |
Over the past few years, many consumers have been experiencing high debt payments to credit card companies and mortgage providers due to what they consider unfair practices.
- Tue Feb 8 2011 |
Recently, a number of major banks and credit card issuers have invested in new technology that makes it easier for consumers to check their balances and watch their debt levels on the go.
- Mon Feb 7 2011 |
The Asheville, Wilmington and Fayetteville, North Carolina, metropolitan areas all made the Top 10 in a new report that cited areas with the most credit card debt.
- Tue Feb 1 2011 |
Recent reports indicate charge offs and late payments to lenders continued to decline in 2010. However, a new report suggests many households still owe as much as 17 percent of their income to credit card companies.
- Mon Jan 31 2011 |
Despite consumers' recent aversions toward using credit cards for purchases, market research firm Synovate is reporting that new offers from lenders doubled in 2010 over their 2009 numbers.
- Mon Jan 31 2011 |
Continuing a string of positive delinquency reports for the month of December, Moody's Investors Service announced the charge off rate for U.S. credit cards continued the downward decent it began in September of last year.
- Fri Jan 28 2011 |
Due to recent regulations by the Federal Reserve on consumer credit cards, many lenders will be targeting small businesses with new solicitations in the next year.
- Thu Jan 27 2011 |
Due in part to recent legislation that removed or limited profitable revenue streams for many major lenders, consumers may soon be flocking to smaller banks and credit cards to save money.
- Wed Jan 26 2011 |
Despite a renewed desire on behalf of many consumers to cut their debt in recent months, New York City residents and visitors used their credit cards more frequently with the city's yellow-cab service in 2010.
- Tue Jan 18 2011 |
Toward the end of 2010, many consumers swore off credit cards for good as an estimated eight million Americans stopped using their accounts altogether and switched to debit, checks and cash for payments.
- Tue Jan 18 2011 |
JPMorgan, one of the nation's largest credit card companies, posted a net profit of nearly $5 billion in the fourth quarter 2010, as consumers continued to rack up large amounts of credit card debt.
- Mon Jan 17 2011 |
Despite Congress' recent passage of restrictions on debit card interchange fees, many credit card companies are still fighting the new laws.
- Mon Jan 17 2011 |
While delinquency rates on credit cards and home mortgage payments have dropped slightly on a monthly basis in recent reports, the overall picture remains largely unchanged.
- Wed Jan 12 2011 |
In recent years, the federal government has passed a number of measures aimed at reducing the ability of credit card companies to market to students.
- Tue Jan 11 2011 |
While Americans continued to cut their credit card use during the month of November, The Federal Reserve says student loan debt was a factor in the overall increases in consumer credit.
- Mon Jan 10 2011 |
Americans have been making strides to pay down debt in recent months, though according to recent unemployment numbers, many are likely still struggling.
- Fri Jan 7 2011 |
Since the beginning of the recent economic downturn, many Americans have needed to alter their existing financial habits, and take steps to save more money and pay down more debt.
- Thu Jan 6 2011 |
Prior to the recession, it was easy for many consumers to simply sign on the dotted line and achieve access to credit and rack up hundreds or thousands of dollars in debt.
- Tue Jan 4 2011 |
At the beginning of any new year, millions of Americans resolve to achieve debt resolution; however, few are often able to put in the hard work and long hours the task requires.
- Mon Jan 3 2011 |
In the past several years, college students have been struggling under an increased amount of debt caused by large student loans and credit card payments.
- Mon Jan 3 2011 |
Utah became the 18th state to join an ongoing antitrust lawsuit against the nation's largest credit card companies this week.
- Thu Dec 30 2010 |
Major credit ratings company Moody's Investors Service, announced today that the charge off rate for credit cards declined for the fourth consecutive month in November.
- Wed Dec 29 2010 |
As a result of recent debit card fee legislation, credit card users could see a host of changes coming in the new year.
- Wed Dec 29 2010 |
The Federal Reserve Board has been mulling amendments to debit card interchange fees that could result in reduced debt for many Americans.
- Tue Dec 28 2010 |
Debit card use has continued to grow in recent months, as consumers continue to choose the popular method along with cash and checks over credit cards for their purchasing needs.
- Thu Dec 23 2010 |
In the coming days, many consumers will be conducting their holiday shopping online at their favorite retailers' websites hoping to take advantage of free shipping, increased selection, and other advantages offered via the Internet.
- Tue Dec 21 2010 |
As 2010 draws to a close, many are thinking about their finances for the new year more optimistically.
- Fri Dec 17 2010 |
Consumers continued to pay down credit card debts during the month of October, according to the most recent releases from the U.S. Federal Reserve Board.
- Tue Dec 14 2010 |
The Federal Reserve Board is scheduled to meet on December 16 to discuss a proposed cap on debit card related fees, which could save merchants and consumers money.
- Mon Dec 13 2010 |
Many consumers may be losing out on extra savings simply by not taking the necessary time to compare prices on products, clip coupons or search for sales at retail destinations.
- Thu Dec 9 2010 |
In recent months, consumers have been making great strides to reduce the amount of money they owe to their lenders, paying down credit card debt, mortgage loans and other outstanding bills.
- Thu Dec 9 2010 |
Consumers looking to avoid credit card debts have long been weary of taking on additional services from credit card companies, choosing instead to opt out of these cost-inducing extras.
- Tue Dec 7 2010 |
Many Americans continued to struggle with rising unemployment and reports of foreclosures in October.
- Mon Dec 6 2010 |
Consumers looking to avoid racking up extra credit card debt this holiday shopping season may wish to negotiate their existing interest rates, a new report says.
- Mon Dec 6 2010 |
Consumers facing debt and foreclosure may soon be getting help from a newly created government agency.
- Fri Dec 3 2010 |
Recent economic reports have indicated that consumer backlash against credit cards this year could well be a trend that continues into the future.
- Fri Dec 3 2010 |
Holiday shoppers are looking to squeeze extra savings out of the end of the year celebrations by observing good shopping habits, a new report says.
- Thu Dec 2 2010 |
While many Americans are still struggling with foreclosure and credit card debt, new reports indicate some consumers are taking steps to alleviate their financial problems.
- Thu Dec 2 2010 |
Consumers flocked to retail outlets and online destinations on Black Friday and Cyber Monday, two of the biggest shopping days of the year, spending more than $45 billion over the holiday weekend.
- Thu Dec 2 2010 |
A new report indicates current consumer spending and borrowing production habits have led to a debt reduction larger than in any previous post-war recession.
- Thu Dec 2 2010 |
Consumers have been spending more wisely lately, taking advantage of deals and putting more into savings.
- Wed Dec 1 2010 |
Americans continued to be weary of accumulating new debts, making timely payments and using credit cards more wisely in the third quarter, a new report says.
- Mon Nov 29 2010 |
With big holiday shopping days such as Black Friday and Cyber Monday around the corner, new reports are showing consumers are cautious about accumulating debt.
- Wed Nov 24 2010 |
Residents of the Boston, Massachusetts, metropolitan area had the fourth-highest monthly debt payments, according to a new survey.
- Mon Nov 15 2010 |
Bank of America, America's fifth largest company, wrote off more consumer credit card debt as uncollectable in October.
- Mon Nov 15 2010 |
The University of Michigan released a preliminary consumer confidence report on Friday, finding numbers at a five-month high.
- Mon Nov 15 2010 |
Consumers continued to reduce their credit card debts into October, according to a new report by the Federal Reserve Board.
- Mon Nov 8 2010 |
Taking on debt can be costly for any individual, but carrying high balances during retirement can be dangerous. Unlike working individuals, retirees live on a fixed income of retirement accounts, Social Security, personal savings and/or investments, making it harder to find additional funds to put toward debt payments. But eliminating certain costs before retirement allows consumers to save more and avoid money pitfalls.
- Fri Oct 29 2010 |
College students are entering the bleak job market with more student loan and credit card debt than ever before, posing significant financial obstacles to young adults. The tough circumstances young adults are facing has prompted many schools and companies to launch literacy and money management programs to help graduates avoid risky or irresponsible financial behavior.
- Fri Oct 29 2010 |
Understanding the full terms of a credit card agreement is an important tool in avoiding unnecessary fees and incurring sizable debt down the road. But the latest study conducted by the Center for Responsible Lending shows Americans may have a more difficult time deciphering the disclosure information offered up by their lenders due to a significant increase in the amount of numerical data.
- Tue Oct 26 2010 |
Fewer credit card issuers wrote off balances they deemed uncollectible during the month of September, indicating consumers are managing their credit more responsibly. The most recent data compiled by Moody's Investors Service Credit Card Indices Report shows the charge-off rate declined nearly one percentage point, falling from 10.03 percent in August to 8.90 percent in September.
- Tue Oct 26 2010 |
Young adults in the U.S. may be less optimistic about the traditional "American Dream," according to the results of a new study. Survey data gathered jointly by research firm Gallup and financial literacy nonprofit HOPE shows one-third of school-age teens do not believe home ownership is part of the American Dream.
- Mon Oct 25 2010 |
National initiatives to help consumers overcome debt and improve their credit have grown since the onset of the recession. "Get Smart About Credit Day" on Thursday, October 21, is intended to provide resources and education on ways to improve credit, manage money wisely and reduce debt.
- Thu Oct 21 2010 |
Despite conflicting reports about the creditworthiness of Americans, the most recent report conducted by the Standard and Poor's Index and Experian shows September default rates have declined across all lines of credit.
- Wed Oct 20 2010 |
The men and women who serve in the military may carry more debt than the average civilian, a new report indicates. According to data from the Financial Industry Regulatory Authority, 82 percent of military members carry at least $10,000 in credit card debt.
- Fri Oct 15 2010 |
The current statistics surrounding consumer debt suggest Americans are paying down their outstanding balances and focusing on saving money. However, a new analysis shows the debt statistics may have been misrepresented, making it more difficult to know the true amount of debt individuals are carrying.
- Thu Oct 14 2010 |
Americans continue to rely less on credit, as evidenced by the latest report released by the Federal Reserve Board. August is the seventh consecutive month consumer credit has fallen.
- Fri Oct 8 2010 |
High unemployment rates and debt continue to burden Americans, as evidenced by a new report. U.S. loan delinquencies increased across eight sectors from 2.8 during the first quarter of 2010 to 3 percent during the second quarter, according to the American Bankers Association. The increase came about even as the credit card delinquency rate fell to its lowest level since 2001.
- Tue Oct 5 2010 |
Consumers seeking debt relief from mounting credit card bills may consider enrolling in payment protection programs offered by most issuers, but critics are urging cardholders to read between the lines before signing up.
- Mon Oct 4 2010 |
Although credit card trends suggest more Americans are focusing on paying down debt, a new report indicates that saving more money is a priority.
- Thu Sep 23 2010 |
Consumers eager to reduce their credit card debt are finding alternative ways to come up with funds, such as cashing in investments. A new study shows 15 percent of maturing certificates of deposit were used to pay down credit card bills during the first half of 2010.
- Wed Sep 22 2010 |
The subprime mortgage crisis and subsequent recession led to stricter lending criteria for consumers. Although banks and lenders have been encouraging more Americans to apply for lines of credit, new banking regulations approved by the financial community may make it even more difficult to secure financing in the future.
- Tue Sep 14 2010 |
Some areas in the U.S. are suffering more than others in regards to high unemployment, foreclosure or debt. Recent data reveals many consumers in Louisiana are finding it harder to meet their financial obligations, leading to a sharp increase in the amount of debt collection lawsuits.
- Mon Sep 13 2010 |
The number of Americans who may be eligible to receive competitive rates on credit cards, auto and mortgage loans may be declining. A recent FICO survey shows that the gap in those deemed creditworthy and those considered subprime borrowers continues to widen.
- Wed Sep 8 2010 |
Credit card defaults in the U.S. continue to decline, proving that more consumers are improving their spending habits and paying off their outstanding balances.
- Fri Sep 3 2010 |
It appears that more Americans are focusing on paying down their credit card balances or relying less on borrowed money, as evidence by the latest report from Standard & Poor's.
- Wed Sep 1 2010 |
The implementation of the Credit Card Accountability, Responsibility and Disclosure Act is expected to provide more debt relief to consumers who were historically subjected to exorbitant late penalty fees and interest rate hikes. But issuers looking to curb losses may employ other measures to boost profits.
- Fri Aug 27 2010 |
Many young adults are facing large amounts of debt related to credit cards and student loans, making their outlook appear dim. A recent Citi study conducted by Hart Research Associates revealed that although consumers in Boston have a more optimistic mindset than the rest of the country, the city's youth are particularly stressed about their debt.
- Wed Aug 25 2010 |
The new rules imposed by the Credit Card Accountability, Responsibility and Disclosure Act that went into effect on August 22 are aimed at shielding young adults from abusive lending practices. But parents at Francis Marion University in South Carolina are not relying on the legislation to protect their children from debt.
- Mon Aug 23 2010 |
Following the passage of the Credit Card Accountability, Responsibility and Disclosure Act, most credit card lenders are seeking ways to maintain profitability amid the limitations the legislation has imposed. As a result, consumers have seen credit card rates rise to the highest levels since 2001.
- Mon Aug 23 2010 |
Many physicians and medical clinics have adopted healthcare credit cards, which they are now urging patients to secure as an alternative way to pay for procedures and treatments. However, New York Attorney General Andrew Cuomo has launched a number of investigations into health insurers, physicians offices and credit card lenders for practices he deems are deceptive and fraudulent, in some cases.
- Mon Aug 23 2010 |
More Americans are seeing their credit scores decline, as evidenced by a recent FICO report that revealed more than 43 million Americans carry a rating below 600. Although more individuals are working with professionals who provide debt relief assistance and consumer education, many banks are now offering workshops to customers to help them improve their financial condition.
- Mon Aug 23 2010 |
Citizens living in Atlanta, Georgia, do not hold as many revolving accounts as they did in the past, suggesting that their debt may not be as high. But a new report shows that the opposite is actually true, with residents carrying higher credit card balances than the rest of the nation.
- Fri Aug 20 2010 |
The new rules that went into effect on Sunday, August 15, may allow some Americans who have a habit of overdrawing their bank accounts to curb additional fees. Most banks currently charge up to $39 when a consumer exceeds the balance of their checking account, even if the overdraft amount is a few dollars.
- Mon Aug 16 2010 |
Despite economic instability and growing bankruptcy rates, a recent report reveals that credit card trends may be improving. According to the Federal Reserve Board, revolving credit dropped at an annual rate of 10.5 percent in May, signaling that Americans may be getting a handle on their credit card debt.
- Fri Aug 6 2010 |
Concerns over the use of credit cards as a method of funding college tuition and expenses is growing. A new report - released by consumer education website CardRatings.com - reveals that 36 percent of college students use their credit cards to pay off their student loans.
- Fri Aug 6 2010 |
Despite high unemployment rates and record foreclosure and mortgage defaults, Americans are working hard to pay down debt, as evidenced by a recent report.
- Fri Aug 6 2010 |
Credit card companies are amping up their direct mail marketing to get more customers.
- Mon Jul 26 2010 |
Senator Dick Durbin introduced a credit card interchange fee amendment to the financial reform bill, and now he believes the credit card are threatening small banks with fees.
- Mon Jul 26 2010 |
More college students than ever are relying on credit cards to get by, according to a Sallie Mae study.
- Mon Jul 26 2010 |
States have joined the fight over credit card swipes fees, and they aren't siding with the retailers.
- Mon Jul 26 2010 |
Consumers under the heavy strain of credit card debt have options, according to a recent report.
- Mon Jul 26 2010 |
Reforms to the credit card industry brought on by the Obama administration are forcing many companies to be more "transparent" with consumers, said a recent report.
- Mon Jul 26 2010 |
An agreement has been reached on the much-debated interchange fees amendment.
- Mon Jul 26 2010 |
For the second month in a row, the number of consumers participating in credit card charge offs has declined, according to the latest report from Moody's.
- Mon Jul 26 2010 |
Michigan residents needing to purchase services from state government offices don't have to worry about always having cash or their checkbook on hand. They can now use credit cards at any of the state's locations.
- Mon Jul 26 2010 |
On Thursday, the results of recent survey showed that although Americans hold more financial knowledge now than before the economic downturn, they still aren't making good choices.
- Mon Jul 26 2010 |
A recent study found that even during year two of the U.S.'s economic downturn that Americans continue to use their debit cards at "robust" levels.
- Mon Jul 26 2010 |
Although the monetary amount charged was minimal ($10 or less), millions of credit card holders were defrauded in an extensive international scheme that used fake U.S. corporations to route money to Central Asian and Eastern European bank accounts.
- Mon Jul 26 2010 |
The Credit CARD Act of 2009 put forth certain consumer protections concerning credit cards. On Tuesday, a final rule was approved by the Federal Reserve Board.
- Mon Jul 26 2010 |
The number of consumers needing to seek credit card debt relief may soon be dropping due to in part to fewer of them being late on their monthly payments.
- Mon Jul 26 2010 |
The start of the World Cup brought hundreds of thousands of fans to South Africa who are expected to brings in millions of dollars in revenue for the country. However, this is a prime time for criminals to partake in credit card fraud.
- Mon Jul 26 2010 |
The recent issue of credit card swipe, or interchange, fees has been a hotly debated one. A recent study shows that the majority of U.S. consumers don't support them.
- Mon Jul 26 2010 |
Consumers who carry a MasterCard credit card and also own an iPad or iPhone can now transfer money using these devices.
- Mon Jul 26 2010 |
The number of consumers defaulting on credit cards is dropping, according to the latest index from Standard & Poor and Experian.
- Mon Jul 26 2010 |
While the fallout from the financial meltdown had many Americans seeking credit card debt relief, a recent report from Moody's shows fewer people are falling behind on their payments.
- Mon Jul 26 2010 |
Timely articles written by the Editors at DRC
