Drop in Credit Card Defaults Points to Economic Recovery

April 29, 2011

March has proved to be a tricky month in recent years for consumers to keep on top of their credit card payments after holiday shopping trips. This year, delinquency and default rates in March dropped, and the balances that credit card issuers had to charge off as uncollectible declined. Assuring Lows in Credit Card Industry […]

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Recent California Supreme Court Ruling Drives Lawsuits

April 22, 2011

After a ruling in February in the California Supreme Court, it is now illegal for a retailer in the state to request the zip code of customers paying with a credit card. Apparently this information was being used for marketing purposes although consumers were led to believe otherwise. The result: more than 150 class-action lawsuits […]

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Consumer Spending Drives Economic Growth

April 21, 2011

The economy has been kicking back into gear, and consumer spending plays a big role in driving this upswing, as it accounts for 70% of the economy. With the recent profit increases credit card companies have seen, it seems consumers are back out there using their cards to make purchases instead of cash or debit […]

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Wells Fargo and Chase Introduce Microchip Credit Cards in U.S.

April 19, 2011

It appears the U.S. is finally making an effort to catch up with other countries in the implementation of microchip-embedded credit cards, also known as EMV-chip technology. Wells Fargo & Co. announced Wednesday that they will test EMV chip cards with 15,000 customers who travel abroad frequently. On Thursday, JPMorgan Chase announced that it would […]

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ABA Reports an Improvement in Most Loan Delinquencies

April 15, 2011

Consumers are doing a better job of paying their credit card bills on time. According to a recent report by the American Bankers Association, bank-issued credit card delinquencies dropped to their lowest rate of 3.28% in the last quarter of 2010, compared with the 3.64% it had been in the previous three months. A delinquency […]

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Save Money with Credit Cards

April 14, 2011

One of the best perks to having a credit card is the rewards program many of them offer. Credit card companies use this benefit to attract new customers and keep their current ones. That doesn’t mean credit card reward programs are a free gift to you from the credit card companies; certain restrictions do apply, […]

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Big Spender Alert: Credit Card Rewards for High-End Users

April 13, 2011

If you’re wealthy enough to own an American Express Platinum or Centurion card, you’ve already been enjoying the more than 40 perks of being a cardholder. But your deal just got even better. American Express recently announced three new perks for high-end customers who also happen to be frequent travelers. The first two perks are […]

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5 Steps To Debt Freedom

April 8, 2011

Experiencing personal debt can feel like falling into quicksand: no matter how hard you try to climb out, you just keep sinking further down.  In a society where more is better, it can be difficult to watch your peers enjoying the finer things in life while the collections agencies are knocking at your door. If […]

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Banks to Reduce Credit Card Interest Rates

April 2, 2011

The credit card industry has been doing back flips to reach the good graces of the credit consumer. And they have made a step in the right direction. Since the passage of the Credit CARD Act in 2009, banks have been losing money, and began to charge consumers for services that used to be free. […]

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Bank of America Implementing New Credit Card Annual Fee

March 31, 2011

With the CARD Act enforcing credit card regulation, banks have begun fishing for money in a sea of consumer pockets. Bank of America, one of the most popular banks in the United States will be adding a $59 annual fee to consumers’ credit cards. The new changes are set to take place April 11, and set to […]

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