All Entries Tagged With: "credit cards"
Credit card defaults keep climbing
Default rates in May continue to rise as borrowers struggle with the weak job market.
Banks continue to write off credit card debt as consumers hurt by record high unemployment default at an increasing rate.
Regulatory forms filed this week by some of the nation’s largest banks showed default rates on credit cards rose in May. The [...]
New law may help you get out of debt
Congress recently passed the Credit Card Accountability, Responsibility and Disclosure, or Credit CARD, Act of 2009. The law goes into effect Feb. 22, but many pieces of the legislation have other effective dates.
For Americans who carry a balance, which is about 40 percent of people who use a credit card, some of the protections will [...]
U.S. bill could help merchants cut credit card fees
Merchants and retailers would be able to negotiate with banks to reduce costs associated with credit card purchases, according to legislation introduced on Thursday by lawmakers in the U.S. House of Representatives.
The measure, called the Credit Card Fair Fee Act, focuses on the so-called interchange fee that restaurants, service stations and other stores pay banks [...]
Fewer Credit Card Offers in the Mail, But More Fees
There’s mixed news on the credit card front.
U.S. households are receiving far fewer credit card offers, which could be a good thing for those who might easily fall into the debt trap. But for those receiving offers, the cards increasingly come with annual fees.
In the first quarter, U.S. households received 372.4 million offers, a 67 [...]
Credit card firms make money on all
It is disappointing to see the credit card companies spread propaganda that credit card holders who pay their balances in full monthly are somehow “subsidizing” those who choose to carry a balance and incur fees (”New credit card restrictions put an end to subsidies funded by the less fortunate,” May 24).
Merchants who accept credit cards [...]
How To Manage Debt And Credit – Banking And Budgeting Guide
Avoiding credit card overload increases your opportunities to save and invest for important goals.
1. Managing Debt and Credit
Credit was once defined as “Man’s Confidence in Man.” But in fact, the definition of credit today is more like “Man’s Confidence in Himself.” Using credit today means you have confidence in your future ability to pay that [...]
