Credit Card Fight
December 5, 2007
Recently, the Congress of the United States has begun to re-examine the credit card industry and how they do business with consumers. One issue that is being carefully reviewed is the practice of increasing a consumer’s interest rate when that person’s credit score goes down. This practice takes place even if the consumer has paid his credit card bill on time.
Holiday Credit Card Shopping
December 4, 2007
Total sales for holiday shopping on Black Friday, the day after Thanksgiving, increased a little over 8 percent to a dollar amount of $10.3 billion, according to ShopperTrak RCT Corp. who monitored some 50,000 retailers.
Credit Slow Down May Hurt Economy
December 3, 2007
The US Federal Reserve has calculated numbers that show that many consumers are experiencing higher credit card balances than they had just one year ago. This comes right on the heels of the lower home values which result in less ability to take cash out via home equity loans. In the past, home equity loans and lines of credit were often used to pay down or pay off holiday spending. That may no longer be a choice for many consumers.
Holiday Credit Card Spending
November 27, 2007
According to the National Retail Federation, it is expected that Americans will spend about $475 billion during the holiday period this year and that much of that will be bought with credit cards.
Chase Credit Card Changes Policy
November 26, 2007
JP Morgan Chase and Company will no longer increase the credit card interest rates for those individual customers who receive a lower credit score after receiving one of the Chase credit cards.
Credit Cards Still Popular
November 22, 2007
Amid all the bad news currently surrounding the housing market there is some good news, and it pertains to credit cards, of all things.
Watch Debit Card Overdrafts
November 12, 2007
A recent study by the Center for Responsible Lending concluded that many people, especially younger adults, are often paying high prices for a form of overdraft protection. The report suggests that these practices may be costing consumers nearly one billion dollars a year.
Does Rate Cut Equal Lower Credit Card Bills?
November 7, 2007
When the Federal Reserve cut the interest rate by another quarter point recently, many consumers wondered how that cut might affect their credit card rates. It is a reasonable thought. If banks are paying less for money, then they should charge less for borrowing money. Right?
Department Store Cards: Too many?
November 5, 2007
When it comes to credit cards, consumers often forget to include department store credit cards in the line up of what is good and what is bad for their overall credit health. This can be a mistake for some consumers.
Credit Card Defaults Increase
October 30, 2007
The agency that rates credit worthiness, Moody’s, recently reported that credit card defaults are on the rise. In fact, they are sharply higher than they were in the past.