Women may earn less than men but they are better managers of credit. According to a new report from Experian, women earn 23 percent less than men, but men have 4.3 percent more debt than women. Women also have a slightly … Continue reading
Many people assume that "no credit" and "bad credit" are the same thing, but that is not the case. This is not like taking a test in school, where 0 and 50 both lead to an "F". Having no credit … Continue reading
Credit Card Companies Battle in China The Ms. Magic credit card from China Citic Bank is dotted with crystals and offers free beauty treatments and health insurance. Huaxia Bank's Pretty Lady card entices women with triple points for cosmetic purchases … Continue reading
Overall credit card debt fell for the first time this year during the month of March, according to data released yesterday by the Federal Reserve. Revolving credit, made up mostly of credit card debt, decreased in March at an annual … Continue reading
The Consumer Financial Protection Bureau is turning its attention to auto lenders. The CFPB says some lenders may be giving auto loans through auto dealerships that charge minorities above-market interest rates. It says the potentially discriminatory markups in auto lending … Continue reading
New data from the Federal Reserve shows that consumer credit rose for the sixth consecutive month in January, fueled almost entirely by auto and student loans. The $16.2 billion increase, which equates to an annual rate of 7 percent, is … Continue reading
Americans are slowly borrowing more to finance purchases like homes and cars. Household debt, which includes mortgages, credit cards, auto loans and student loans, rose 0.3 percent or $31 billion to $11.34 trillion in the fourth quarter of 2012, the … Continue reading
California Supreme Court Makes it Easier for Apple, Online Businesses to Collect Personal Data A divided California Supreme Court ruled that online merchants such as Apple and Ticketmaster can require consumers to furnish personal information to make credit card purchases. … Continue reading
U.S. consumers increased their debt in December by a seasonally adjusted 6.3 percent or $14.6 billion, according to the monthly G19 report from the Federal Reserve. This was the fifth consecutive monthly increase in consumer credit. In November, consumer borrowing … Continue reading
Contrary to popular belief, credit cards can be a great way to make purchases, but only if you use them properly. That means you pay off the balance in full on time every month. You also have to be very … Continue reading
The delinquency rate on credit cards issued by banks fell to an 18-year low, according to the latest data found in the American Bankers Association Consumer Credit Delinquency Bulletin. Data for the third quarter of 2012 shows that delinquent bank … Continue reading
Outstanding consumer credit increased by $16.1 billion in November, the second straight month of significant gains, according to the latest Consumer Credit Report from the Federal Reserve. This also represented the fourth straight month of increases in consumer credit. Consumer credit increased … Continue reading
At first glance, the latest Federal Reserve figures are encouraging, showing that household debt fell by $74 billion or 0.7 percent in the third quarter. However, the decrease is almost entirely from mortgage debt which is the largest factor of … Continue reading
Consumers cut back on their use of credit cards again in September. The latest report on Consumer Credit released today by the Federal Reserve shows that revolving credit, made up mostly of credit card debt, fell $2.9 billion to $852.0 … Continue reading
The August 2012 S&P/Experian Consumer Credit Default Indices showed that default rates continue to decline for most loans, including the national composite, which has now declined for eight consecutive months. Most of the loan types posted their lowest rate since the … Continue reading
Household debt rose at a seasonally-adjusted annual rate of 1¼ percent in the second quarter, according to the Federal Reserve Flow of Funds Report released Thursday. This was the largest increase since the first quarter of 2008 but only the second … Continue reading
Consumers cut back on their use of credit cards in June. The latest report on Consumer Credit released yesterday by the Federal Reserve shows that revolving credit, made up mostly of credit card debt, fell $3.7 billion to $864.6 billion in June. … Continue reading