Credit Card Debt Approaches Pre-Recession High

It has been several years since the United States went into a recession, but it appears Americans are slipping back into their old ways. According to new research, the average household credit card balance in America will reach $7,813 by the … Continue reading

The Metro Areas with the Worst Credit Card Debt

According to a recent survey, cardholders from some major cities in Texas take longer to pay off credit card debt than any other metro areas in the United States. The Lone Star State had three of the five worst areas … Continue reading

Do Balance Transfers Earn Points Or Miles?

If you are carrying a balance on your credit card, your highest priority should be to reduce your interest costs and pay off your debt. But while you are doing so, it could be nice to earn rewards from completing … Continue reading

35% of Adults Bring Credit Card Debt into Relationships

Over one-third (35%) of adults bring credit card debt into new relationships, more than any other form of financial debt, according to a new survey from NerdWallet. Men were more likely to bring credit card debt into the relationship than … Continue reading

Average Credit Card Balance up 6% in December

A report from Equifax indicates a significant increase in credit card debt in America, with the average person racking up a 5.9% higher balance in 2014. In total, Americans accumulated $624.4 billion in credit card debt in 2014, up from $606.75 … Continue reading

Credit Card Balances Reach 6-Year High

Credit card balances grew approximately 5% in 2014, the highest growth rate since the economy crashed in 2008. The report from TransUnion showed that 157 million consumers had access to a credit card during the fourth quarter of 2014, which is … Continue reading

Paying Down Debt Top Financial Goal for 2015

According to a new poll from American Consumer Credit Counseling, 71% of Americans say paying down debt is their top financial goal for 2015. Debt payment goals far surpassed other financial New Year's resolutions, including building a savings account at … Continue reading

Credit Card Debt Dropped Significantly in November

The latest monthly report from the Federal Reserve showed a large decline in credit card debt during the month of November, the first decrease in three months. According to the Federal Reserve's Consumer Credit report, the total revolving credit is … Continue reading Weekly Credit Card Update–January 2, 2015

Anonymous Hackers Release 13,000 Passwords and Credit Card Details of Amazon, PlayStation and Xbox Users A hacker group has released a cache of 13,000 passwords, usernames, and credit cards purporting to belong to users of popular web services including Amazon, … Continue reading

New Year’s Credit Card Resolutions

We're approaching another new year, which means we all have a chance to focus and fix areas of our life with some New Year's resolutions. One resolution may be to get your credit card account in order so you can … Continue reading Weekly Credit Card Update–November 26, 2014

Disconnected: Millennials Talk Big, Do Little About Money Surveys continue to show a major disconnect between how optimistic many millennials are about their financial future and what they are actually doing to make sure they achieve their goals. In a … Continue reading

Credit Card Issuers Will Earn $159 Billion This Year

According to a new report from R.K. Hammer, U.S. credit card issuers will generate $158.6 billion in revenue this year. That is a 9% increase from the $146 billion in 2013, and only 6% less than the debt peak back … Continue reading

Do Credit Cards Let You Go over the Credit Limit?

Every credit card comes with a credit limit--a virtual cap on the amount of money you can charge to the card. This limit is set based on your credit worthiness and the specific card you have. When an emergency situation … Continue reading

5 Tips For Credit Card Management In Your 20’s

Your 20’s are an important time in your life. It is usually when you are first given the burden of handling and managing your own money. For many, this can be liberating, but it also comes with its own set … Continue reading Weekly Credit Card Update–July 11, 2014

Report Says Debt Settlement Companies May Leave Customers Worse Off Using a settlement company to help you dig out from underneath burdensome debt may sound appealing, but it may leave you worse off than when you started, according to new … Continue reading Weekly Credit Card Update–June 13, 2014

Credit Card Use Surges in AprilAmerican consumers threw caution to the wind in April and ran up their credit-card balances at the fastest pace in almost 13 years. The amount of outstanding revolving credit--a figure that’s mostly credit card debt--rose … Continue reading Weekly Credit Card Update–June 6, 2014

Debt Collectors Have Figured Out a Way to Seize Your Wages and SavingsPeople with overdue bills have long complained of harassment from debt collectors, from late-night phone calls to frightening in-person visits. Now it appears the industry has found far … Continue reading Weekly Credit Card Update–May 2, 2014

After Data Breach, Target Plans to Issue More Secure Chip-and-PIN Cards Still pushing to right itself after an enormous data breach by cybercriminals, Target announced that it would switch its debit and credit cards over to a more secure technology … Continue reading Weekly Credit Card Update–December 20, 2013

Target Says 40 Million Credit, Debit Cards May Have Been Compromised in Security Breach Target said Thursday that credit and debit card account information for 40 million of its customers may have been stolen during the height of the holiday … Continue reading

Service Personnel Have High Risk of Credit Card Debt

A recent survey suggests that young military servicemen are at a particularly high risk of developing credit card debt. Due to the nature of their pay schedule and the amount of time they spend away from home, many of these … Continue reading

Reducing Credit Card Debt in 2014

Christmas shopping has reached a frenzied pace, and millions of consumers are buying things they probably cannot afford. Many of us will enter January with credit card debt. Issuers are adding to the dilemma. Mailboxes have been filled with credit … Continue reading

“Couponing” with Credit Cards

Couponing has been around for decades, but it became a very popular fad after shows like Extreme Couponing and Extreme Cheapskates highlighted the amount of money you can save with the practice. If you are an avid couponer, you may not … Continue reading Weekly Credit Card Update–November 27, 2013

'Rachel' Robocallers Reach Settlement with the FTC Two more people and four companies have agreed to settle charges in the "Rachel robocall" scheme, according to the Federal Trade Commission. The Rachel scam, which used other names as well, called people, … Continue reading

Retail Credit Cards on the Rise

According to a new report from Equifax, retail credit card accounts are on the rise, both in terms of balances and the number of cards on the market. There were 24.6 million new retail credit card accounts opened between January … Continue reading Weekly Credit Card Update–November 15, 2013

Credit Card Debt Declines for Fourth Straight Month U.S. credit card balances declined for the fourth consecutive month in September, suggesting rising caution among the nation's consumers. Revolving credit, which largely reflects money owed on credit cards, fell by a … Continue reading

Quarterly Earnings Mixed for Credit Card Issuers

Third quarter earnings are mixed for banks and credit card issuers. Some, like American Express, beat estimates while others such as Chase suffered due to legal troubles. Charge-off rates continue to reach historic lows as cardholders pay down their credit card balances. … Continue reading

Young Credit Card Users Are More Responsible Than Their Parents

The common perception is that young adults are not financially responsible, mainly because they lack experience in dealing with money. But a recent study from Arizona State University suggests that college-aged credit card users are actually more responsible than middle-aged … Continue reading

The History of the Credit Card

Technology, innovation and social media are bringing changes to credit cards. Consumers have been slow to adapt to these changes, but that should not come as a shock. History shows that methods of payment change and evolve slowly. Until the … Continue reading

Credit Card Balances Predicted to Increase

The majority of bankers in a recent survey expect the average credit card balance to increase over the next six months but only about a quarter of them predict that delinquencies will increase. These are the results of the latest … Continue reading Weekly Credit Card Update–April 12, 2013

Analysts See Steady Credit Card Use, Despite Fears of Consumer Cutbacks Analysts expect upcoming earnings from American Express, Visa and other large credit card companies to show that shoppers continued to swipe their credit cards at a healthy clip in the … Continue reading

How to Improve Your Credit Score Fast

Many people experienced a decline in their credit scores after the economy crashed in 2008. The loss of a job or skyrocketing expenses can easily send your credit score from the 700s into the 600s. Credit scores can go down … Continue reading

The Good News & Bad News in the Latest Debt Figures

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