Credit Cards News

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How to Handle Credit before New Law Takes Effect [12:00:00 AM Friday, November 06, 2009]

On May 22, President Barack Obama signed a new credit card law which is considered to be the toughest credit card law ever created. However, according to Gail Cunningham, spokeswoman for the National Foundation for Consumer Credit (NFCC), "changes aren't going to take effect anytime soon." It is believed that the new law which will limit the number interest hikes to a few circumstances will kick off on August 20.

Lending Companies Up Their Standards [12:00:00 AM Thursday, November 05, 2009]

It has become more difficult to get lending companies and credit card issuers to approve your requests. They now offer their services to only those who have reached their standards. Those requests that have been filed by people who did not reach this standard will find it difficult to look for a credit card company who will approve their requests.

Public Warned On Low Rate Catch [12:00:00 AM Wednesday, November 04, 2009]

The flourishing of low interest rates on credit cards is now enticing more credit card holders without realizing that they actually tend to pay more than they expect. Financing analysts have recently warned the public on offers made by low-interest credit card companies as they have been found out to be robbing off the client with more cash than those high-interest offers.

The New Credit Card Law and its Two Sides [12:00:00 AM Tuesday, November 03, 2009]

On August 20, the new credit card law which was created to protect consumers against increasing interest rates and other expenses takes effect. The question many consumers ask is whether the new law actually helps them or proves to be more hurtful. Of course, the answer varies greatly when you ask the people who are most affected by it: credit card providers and credit card holders.

FTC busts Two Fraudulent Credit Repair Companies [12:00:00 AM Monday, November 02, 2009]

Two companies offering illegitimate credit repair services to consumers were busted by the Federal Trade Commission. These establishments claimed that they were qualified by the Commission to deliver such services. However, the FTC identified that they had no such services.

Debt Collectors No Longer Allowed to Harass Debtors [12:00:00 AM Sunday, November 01, 2009]

These days, Seena Rosenberry is wary in responding to her calls and messages. She was harassed by a debt collector until she was forced to pay more than $9,000 for a credit card debt that wasn't hers to begin with.

Controversies Surround Credit Card Interchange Fees [12:00:00 AM Saturday, October 31, 2009]

Some victims of interchange fees demonstrated in the grounds of the U.S. Capitol. These interchange fees are the amount which the customer pays to the banks and card networks. The protesters are calling the government to limit these fees.

Small Business Hit the Ground due to Credit Pullback [12:00:00 AM Friday, October 30, 2009]

The jobs offered by small businesses comprise beyond half of the total working population in America. However, with the effects of recession burning up all sorts of funds here and there, small business owners have raised their voice to the scarcity of credit made available to them. Small business entrepreneurs are saying that banks are not giving them access to that much credit to work with. In turn, these entrepreneurs are saying that banks are literally a world away from extending the credit that they once extended to the real-estate companies that went bankrupt and pushed America and the rest of the world into this global recession we are now experiencing.

Credit Industry Remains Arid with Unstable Debt-securitization Markets [12:00:00 AM Thursday, October 29, 2009]

Roughly a year after Washington came to the rescue of the big dogs in American finance, it seems the difficulty in securing loans has not let up one bit. It is easy for people to say that the problem lies with banks, as they are quite wary about extending credit to consumers right now. Yes, part of the problem does lie with banks and other lending institutions. However, the problem actually goes much deeper than that.

Consumers are Constantly Robbed off via "Swipe" Fees [12:00:00 AM Wednesday, October 28, 2009]

Unfair practices and astoundingly high bank fees continue to heat up debate in the credit card industry. In truth, this can all be summed up into one sentence: consumers are fed up with being constantly robbed off via the "swipe" fees that come with credit card usage. And as more and more consumer advocacy group and business organizations rally against these unfair practices, are the chances of Congress mandating credit card companies to modify their practices and play fair indeed higher?

The Changes that Come with the 2009 CARD Act [12:00:00 AM Tuesday, October 27, 2009]

Since the creation of the CARD Act or the credit card Accountability, Responsibility, and Disclosure Act, some of the new rules and modifications have already been implemented. The rest of the modifications will be implemented once the CARD Act is enacted this coming February 2010, though there is still that distinct possibility that the enactment would be moved sooner ¨C as early as December 2009 even.

The Good and the Bad of the Credit Card Act [12:00:00 AM Monday, October 26, 2009]

The credit card Act of 2009 that is being proposed by the federal government has attracted a lot of criticisms from both sides of the fence. Regardless of these statements being positive or negative, the 2009 Credit Card Act is, by far, the largest reform that has ever been imposed on the industry. This move is aimed towards more efficient and more reliable consumer protection. However, this move could mean some expenses for certain credit cardholders ¨C especially the ones who have good credit standing.

Consumer Protection in Congress Just Might Gain Support [12:00:00 AM Sunday, October 25, 2009]

Despite the opposition from the financial industry, there is hope indeed for consumer protection in Congress. It has been proposed that a federal agency be set up with the aim to protect all consumers from financial practices that have largely contributed to the global economic meltdown we are experiencing today. More importantly, federal officials say that this proposed federal agency should be able to obtain approval by the end of this year and should be up and running by the middle of 2011.

Battling Credit Card Fraud and Identity Theft [12:00:00 AM Saturday, October 24, 2009]

While governments all over the globe are forced to take on certain measures aimed at preventing the further decline of today's growth rates, hackers and cyber crooks are using the implementation of these measures to cash in.

Mark Your Calendars for Protect Your Identity Week [12:00:00 AM Friday, October 23, 2009]

Identity theft is not rampant just in America. It is growing rapidly in other parts of the globe as well, affecting hundreds of credit users each day. More sophisticated technology and more reliable security systems have been developed, making it harder for identity thieves to steal the identities of victims. However, thieves have also become more creative in their attempts to access the personal information of victims, thereby using this to open loan and credit accounts. Identity theft is a very serious crime and should be treated with more vigilance than credit account theft. When a credit card is stolen, all the victim has to do is shut it down to prevent further abuse. But when a victim's identity is stolen, the thief can use the identity to open all sorts of accounts, which translates to violation of huge proportions.

Credit Spending Habits Show Frugal Times Up Ahead [12:00:00 AM Thursday, October 22, 2009]

For the 7th straight month this August, stats show that consumers have reduced their borrowing, with more focus placed on paying off their debts and with banks reducing the credit card limits of more and more credit users these days.

Proposed Reforms should be for Improved Consumer Experience [12:00:00 AM Wednesday, October 21, 2009]

The hearing just this Thursday showed how a lot of small retailers support Representative Peter Welch's stand in ending the abusive practices when it comes to credit card payment processing. Rep. Welch aired out his sentiments to the House Financial Services Committee, in the hopes of getting rid of the major credit card companies' practices that have done nothing but abuse small retailers in the industry. One of Welch's many supporters even testified just how unfair the structure of credit card interchange fees are, saying that these fees only take away more money out of the pockets of the retailers, when they have so little to begin with.

Rep. Frank Proposing to Implement Credit Card Bill Earlier [12:00:00 AM Tuesday, October 20, 2009]

The latest statement sent out by Rep. Barney Frank focuses on the need to usher in the credit card Bill earlier this year. The Credit Card Bill was scheduled to be implemented February 2010, giving banks a grace period during which they would implement changes to cope with the effects that the bill would have on their operations. The major change here entails the limitation of freedom that banks would have regarding when and how they would hike their interest rates.

Credit Card Bill to be Enacted Earlier [12:00:00 AM Monday, October 19, 2009]

Liberal Rep. Barney Frank is adamant about the rewriting of the rules that govern Wall Street and is taking aim at the big banks in the industry. Frank says that big banks should play nice or else Congress will enact and implement the dreaded credit card Bill earlier than originally planned. Frank has observed that the big corporations in the industry are not playing nice to their consumers, which has prodded him to consider enacting the Credit Card Bill much earlier, thereby making life for these banks more difficult.

Wells Fargo and Co Raise Interest Rates Despite the Odds [12:00:00 AM Sunday, October 18, 2009]

In spite of the ultimatum issued by Representative Barney Frank, which serves as a warning to the rampant practice of large banks hiking their interest rates during the grace period given by the Congress, there are still banks doing the exact same thing. This is a strong indication that some of the banks operating in America are still adamant about increasing their interest rates as much as they can, despite the threat to move the enactment of the dreaded credit card Bill from February 2010 to as early as December 2009.

Bank of America Not Increasing Interest Rates until 2010 [12:00:00 AM Saturday, October 17, 2009]

Ever since the enactment of the proposed credit card Bill has been announced to take place in February 2010, banks, credit card companies, and lending institutions have been running amuck with the changes that they are incorporating during this grace period given by the Congress. Representative Barney Frank has been clearly adamant about the need for changes to be implemented, to give the consuming public a breather from the high interest rates and sudden hike increases that they have been dealing with all these years. In turn, there are large banks that are noticeably increasing their interest rates during the given grace period, as an attempt to offset the limitations that await them, come the implementation of the bill.

Experts say Credit Cards Good for Short Term Business Expenses [12:00:00 AM Friday, October 16, 2009]

Financial experts and credit industry specialists say that business credit cards can provide entrepreneurs much needed advantage in certain circumstances. According to analysts, many small businesses often fail because of mounting credit debts. Recent studies suggest that higher debts can mean a higher probability that a startup can fail in its first few years. Experts say that mismanagement of credit cards can result in too many expenses and too little profit to pay off debt.

Credit Cards Blamed for Lower Holiday Sales [12:00:00 AM Thursday, October 15, 2009]

Retailers across the U.S. are blaming credit cards for projected drops in expected sales this coming holiday season. According to the National Retail Federation (NRF), many Americans are becoming increasingly reluctant to use their credit cards for shopping. Analysts believe that cardholders are becoming wary of the effects of the credit crunch and are taking steps to minimize potential debts.

Cardholders Warned Against Giving Up Cards [12:00:00 AM Wednesday, October 14, 2009]

American credit cardholders are being cautioned by financial experts against getting rid of cards they consider problematic. Despite the volatile economic environment, cardholders are being told not to dispose credit cards even if they pose a potential threat to the financial health of the cardholders. Experts say that unused credit cards still have a significant role in credit ratings and scores and getting rid of them too soon can hurt credit scores.

Research Shows More Students Using Credit Cards [12:00:00 AM Tuesday, October 13, 2009]

An informal survey conducted by a university based in the U.S. discovered that more and more students are relying on credit cards to pay for school-related expenses. According to the latest study on credit card usage by college students, a large majority of the student population now own credit cards. In comparison, only a handful of freshmen owned and maintained cards two decades ago, experts say.

Card Issuers Scramble for Student Cardholders [12:00:00 AM Monday, October 12, 2009]

With the implementation of the Obama administration's CARD act due in February of next year, card companies across the U.S. are stepping up efforts to find new cardholders from universities and colleges. Part of the law's provision would prohibit Americans under the age of 21 from owning credit cards. Of course, consumers with ample source of income or have co-signors can still get credit cards. Even so, a large majority of college students are expected to miss out on plastic when the law takes effect.

Borrowers Advised to Seek Debt Relief [12:00:00 AM Sunday, October 11, 2009]

Cardholders in the U.S. are being advised by credit industry experts and financial analysts to consider approaching debt relief companies for help. With the volatile economy still undergoing major changes, cardholders may have to endure more financial hardships in the near future. However, experts point out that American consumers can find comfort in knowing that there are existing ways to help them cope with growing credit card debts.

Shares of Card Companies Expected to Rise [12:00:00 AM Saturday, October 10, 2009]

Economic analysts have recently disclosed that the share prices of many major credit card companies are expected to increase with news of an improving economy. According to economists and experts familiar with the stock market and the credit industry, there is growing optimism that card firms will regain their losses and see "normalized" earnings as early as 2011.

Critics Say Federal Credit Programs Benefit Large Firms [12:00:00 AM Friday, October 09, 2009]

Critics of the federal government's programs to jumpstart the economy have expressed dismay over what they say are unjust policies. They argue that government regulators favor large corporations over small businesses, resulting in more job losses over the past year. Detractors of the multi-billion dollar federal grants say that because the government has prioritized larger credit card companies, many small enterprises are missing sough-after assistance.

Moody's Fear FDIC Protection can Harm Card Ratings [12:00:00 AM Thursday, October 08, 2009]

One of the best financial analysis groups in the U.S., Moody's Investors Services, expressed concern that cardholders under banks receiving federal aid can suffer declines in their credit card ratings. According to a report published by the analysis group, the Federal Deposit Insurance Corporation (FDIC) and its uncertainty over the fate of several banks under the receivership of federal aid grants can lead to lower ratings for millions of credit cards across the U.S.

Cardholders Warned of Debt Forgiveness Fine Print [12:00:00 AM Wednesday, October 07, 2009]

American credit cardholders are being cautioned against trusting card companies offering debt forgiveness so easily. According to industry experts and tax analysts, millions of cardholders may feel as though they have dodged paying full credit debt but in reality, they may have to pay the taxes on the remaining debt.

Study Shows Fewer Credit Cards Issued [12:00:00 AM Tuesday, October 06, 2009]

A recent survey conducted by financial organizations has found out that the credit card market has shrunk significantly since the start of the economic crunch. Credit industry experts believe that because of the financial crisis, banks and lenders have scaled down the number of credit cards they have issued in an effort to minimize losses.

U.S. Sees Record-high Delinquencies [12:00:00 AM Monday, October 05, 2009]

The credit card industry is expected to post higher losses this quarter as a result of the latest figures from the American Bankers Association (ABA). According to the financial organization, credit card delinquencies in the U.S. have reached a record high level during the second quarter of this year. Many analysts believe that the increase in delinquencies is due to the declining employment figures. Experts now say that the unemployment rate in the U.S. can reach the 10-percent mark by the end of this year or early in 2010.

Cardholders in Georgia Decry Merchants Credit Card Minimums [12:00:00 AM Sunday, October 04, 2009]

Consumers in the state of Georgia are calling for an end to the minimum amounts many merchants and businesses require before accepting credit card payments. Cardholders say that the practice of imposing a certain minimum amount to be able to use credit cards is unfair and unjust. Many argue that the policy is unwarranted and that it actually favors the merchants.

Analysts say Credit Crunch Far from over [12:00:00 AM Saturday, October 03, 2009]

Financial experts, led by Meredith Whitney, cautioned Americans against being too complacent in the face of better job figures. Even with some indication that the economy is improving, Whitney and other analysts say that the credit crisis is far from being over. In fact, Whitney says that credit market crunch may just be halfway through the tumultuous financial cycle it regularly undergoes during tougher economic environments.

Lawmaker Wants Card Rules Earlier [12:00:00 AM Friday, October 02, 2009]

The chairman of the House Financial Services is calling for the earlier implementation of the CARD Act of 2009 and the tougher regulations that come with it. Rep. Barney Frank (D) of Massachusetts says that the federal government should hasten the implementation of new rules designed to curb the unfair practices of the credit industry.

Card Firms, Retailers, Battle over Interchange Fees [12:00:00 AM Thursday, October 01, 2009]

The card industry and the merchants' disagreement over credit card interchange fees has escalated into a full-grown public relations war as card companies and large retailers vie for public support. Analysts familiar with the disagreement say that both sides have now resorted to TV ads, newspaper ads, and even internet campaigns to convince the public to side with them.

Poor Job Figures Lead to More Card Losses [12:00:00 AM Wednesday, September 30, 2009]

The credit card industry suffered another major blow in August as losses skyrocketed over news of higher unemployment figures. Analysts say that major card companies have reported higher charge-offs and losses last month compared to previous months. The main reason, they point out, is the worsening job market and unemployment rate in the U.S. Federal government agencies say that the jobless rate reached a 26-year high of 9.7 percent this August. There are fears that the 10-percent mark may be breached by the end of the current year or earlier next year.

Small Businesses to be Protected by Credit Card Bill [12:00:00 AM Tuesday, September 29, 2009]

A proposed bill is expected to provide some form of protection to small businesses who may be suffering from low credit lines and other forms of credit industry practices deemed unfair. With the Obama administration's CARD Act of 2009 set for implementation this coming year, lawmakers are mulling the creation of another set of legislation that would guarantee the protection of small business owners and their rights.

Card Firms, Retailers Argue over Safer System [12:00:00 AM Monday, September 28, 2009]

Despite the prevalence of identity and credit card theft in the credit industry, plans for the adoption of a new and safer system have hit a snag, according to industry experts. Questions are now being raised regarding the $8 billion price tag for an overhaul of the credit industry's security system. While most card companies admit that there is a need for a better system to be set in place, experts believe that card firms are actually downplaying the actual losses they are incurring from credit thieves.

Veterans Warned Against Card Fraud [12:00:00 AM Sunday, September 27, 2009]

The Department of Veterans' Affairs is cautioning veterans against unscrupulous scam artists who may be targeting older cardholders. According to officials of the government agency, fraudsters are posing as employees of the veterans' affairs office and asking for valuable credit card information through the phone.

Card Companies Offer Simpler Cards [12:00:00 AM Saturday, September 26, 2009]

Major credit card firms across the U.S. are changing their long-standing policies and card accounts to accommodate the growing demand of cardholders. In a dramatic shift in industry practice, large card firms are now starting to trim down highly elaborate and sophisticated card features and turning once-costly plastic into affordable cards.

Cardholders Warned Against Scams [12:00:00 AM Friday, September 25, 2009]

Security experts and credit industry representatives are warning cardholders against trusting fraudulent scam artists with their credit cards. Analysts say that the current economic environment is making more and more American consumers on the edge regarding their finances. As a result, more cardholders are on the lookout for credit debt reduction services. This is where scammers come in and prey on the vulnerability of consumers needing assistance with their mounting debts.

Consumers Told to find Credit Cards after Bankruptcy [12:00:00 AM Thursday, September 24, 2009]

Contrary to public perception, declaring bankruptcy does not necessarily mean the end of a good credit history. While records of a bankruptcy will remain in credit histories for a substantial period of time, seven years to be exact, American cardholders can still find good credit cards. Most experts would say that a bankruptcy can be a red flag or a potent warning for financial firms to stay clear of consumers. However, new studies suggest a shift in industry practices.

Debt Settlement Considered Better than Bankruptcy [12:00:00 AM Wednesday, September 23, 2009]

In the quest for credit card relief, millions of Americans are considering filing for bankruptcy. In fact, the number of cardholders heavily in debt has grown substantially since the start of the economic crunch. Financial analysts and economists say that rising unemployment figures coupled with higher rates and fees have resulted in many consumers unable to pay off their balances. The number of Americans filing for chapter seven or personal bankruptcy has even grown significantly in the past few months.

Cardholders Told not to Charge Certain Purchases to Credit [12:00:00 AM Tuesday, September 22, 2009]

The increasingly worsening economic situation is forcing many Americans to trim down expenses and maximize savings. In the same manner, card companies and banks are looking forward to scale back unwanted expenses and maximize revenues. Unfortunately, the need to cut back on expenses can mean kicking out some cardholders that card issuers may consider to be liabilities, analysts say.

Americans Warned against Retail Cards [12:00:00 AM Monday, September 21, 2009]

Financial experts and credit specialists are cautioning millions of American consumers against using retail credit cards. They point out that the number of active retail or private department store credit cards have soared in recent years, boosted by marketing gimmicks like teaser rates and rewards programs. Experts say that many cardholders fail to realize the danger of relying too much on these forms of cards, which they say are some of the worst kinds of credit cards.

Experts: Closing Down Cards will not Affect Credit Scores [12:00:00 AM Sunday, September 20, 2009]

In the continuing debate over the actual effects of shutting down card accounts, financial analysts share their insights on the issue. The ongoing economic crunch is making more and more Americans wary of how they use their credit cards. Recent surveys have shown that more cardholders are cutting back on their use of plastic, with a growing number of consumers closing down card accounts to avoid mounting debts. Nevertheless, many cardholders are still confused about the potential effects their actions may have on their credit scores.

Money - saving Tips Using Credit Cards Bared [12:00:00 AM Saturday, September 19, 2009]

Despite the media stereotype and hype surrounding credit card, cardholders can actually save money by using plastic. Contrary to what many Americans are led to believe, plastic can help save money instead of resulting to hefty balances and growing credit debts. Financial experts say that using credit cards wisely can lead to surprising perks and benefits that cash alone cannot equal.

Tips Bared on Maximizing Credit Card Use [12:00:00 AM Friday, September 18, 2009]

The economic crunch and the tougher federal regulations are forcing card companies to cut down on expenses just to stay afloat. Unfortunately, cutting down on expenses often means taking it out on the cardholders, says industry experts. To stay out of the red, many card issuers and banks are resorting to aggressive tactics just to maximize revenues and reduce costs. This can involve anything from raising fees and penalties, to slashing credit limits. Card companies are also increasing the pace as new regulations are expected to take effect early next year.

Proper Credit Card Management Urged [12:00:00 AM Thursday, September 17, 2009]

The looming credit industry regulations are unexpectedly speeding up how card companies are introducing changes to the credit field. With the tougher regulations set to take effect next year, and the economic crunch still taking its toll on millions of Americans, not to mention large corporations, many card issuers are resorting to harried methods to minimize losses. These practices, while regulated by the government, can still wreak havoc on the cardholders' credit scores and ratings.

Experts Caution Cardholders on Quick Fixes [12:00:00 AM Wednesday, September 16, 2009]

Credit industry specialists are warning American cardholders against relying too much on quick fix solutions offered by credit consultants, counseling, consolidation, and credit repair companies. Analysts have noted a substantial increase in the amount of advertisements and aggressive marketing strategies employed by many companies who claim to provide solutions for credit debts.

Top Excuses for Closing Credit Cards Bared [12:00:00 AM Tuesday, September 15, 2009]

The presence of credit cards has undoubtedly changed the way millions of Americans live, according to financial experts. The advent of the credit age allowed more consumers to enjoy purchasing almost anything without having to pay for their full price at once. This paved the way for the consumer market to expand rapidly, resulting in the growth of the capitalist economy of the U.S. However, some experts are questioning the impact of credit cards on American society and the way many cardholders treat their finances.

Quick Action Advised for Stolen or Lost Credit Cards [12:00:00 AM Monday, September 14, 2009]

Security experts and credit card specialists are urging cardholders to take immediate action if they suspect their cards stolen or lost. A stolen credit card can mean unwanted and unauthorized purchases in the cardholder's name. These can spell trouble for their credit reports and ratings, further reducing their chances of getting credit or loans extended to them. Financial institutions would often shy away from offering loans and other forms of assistance if they see lavish credit card expenses.

Indiana Residents to Receive Debit Card Cash for Doctor Visits [12:00:00 AM Sunday, September 13, 2009]

Residents of the state of Indiana may find a silver lining in the rising medical costs across the U.S. With the cost of medications, checkups, and procedures on the rise, more and more Americans are charging health-related expenses to their credit cards. This has led to increasing credit debts for millions of cardholders. In fact, a survey conducted earlier this year has found out that the average cardholder owes $2,194 in medical expenses to their card companies. Experts point out that the figure comprises the out of pocket expenses not covered by health insurance.

Credit Scores Safe from Closing Down Credit Cards [12:00:00 AM Saturday, September 12, 2009]

The credit ratings and scores of millions of Americans are relatively shielded even if cardholders choose to close down their credit scores. According to FICO (Fair Isaac Corp.), most consumers may not see their scores go down if they decide to close some of their cards. With rising interest rates and lower credit limits, more and more cardholders are choosing to get rid of their many credit cards to avoid paying substantial card debts.

Parents Advised to Leave Student Credit Cards at Home [12:00:00 AM Friday, September 11, 2009]

In just a few weeks, millions of young Americans will be heading back to college. For many students, college can be a rewarding experience. But for most parents, sending a child or children to college can be a tremendous financial burden. With education costs rising and the economy still reeling from the worst recession since the 1930s, many families are looking for ways to cut back on spending.

Help for Debt-ridden Cardholders Sought [12:00:00 AM Thursday, September 10, 2009]

All across the U.S., millions of American cardholders are struggling to pay off their mounting credit debts. In fact, the average household owes a little more than $9,000 in debt to card companies. A growing percentage of families are also becoming increasingly dependent on credit cards for their basic needs. This has prompted many financial experts and analysts to reiterate their calls for better fiscal management and increased awareness among the cardholders.

Credit Scores Explained [12:00:00 AM Wednesday, September 09, 2009]

Credit industry specialists often advise millions of American cardholders to review their credit scores to see how they fare when it comes to financial performance. However, not all consumers know what exactly credit scores and ratings are for and how to maintain them. Because of this, experts are stepping up efforts to increase awareness and help cardholders gain better knowledge and understanding of credit scores and ratings.

Parent Told to Monitor College Students' Cards [12:00:00 AM Tuesday, September 08, 2009]

With millions of young Americans heading off to college in just a few weeks' time, credit experts are advising parents to keep a close watch on their credit card spending. Recently conducted studies reveal that on average, college students owe some $4,100 in card debts to different credit card companies. Similar surveys have also found that students who graduated from public colleges and universities in 2008 acquired $17,700 each in debts. Worse, college students who graduated from private academic institutions have, on average, $22,375 in credit card debts.

Credit Limit Cuts Left Out of New Card Law [12:00:00 AM Monday, September 07, 2009]

While consumer advocate groups are heaping praises on the Obama administration's new credit card law, some credit specialists are warning that the new measures have left out a crucial component. The new provisions would place tougher regulations on credit card companies when it comes to raising interest rates. However, the said law failed to address the issue of sudden credit limit cuts, analysts say.

Pros and Cons of Credit Debt Consolidation Weighed [12:00:00 AM Sunday, September 06, 2009]

Increasing credit card debts and rising interest rates can make a simple card purchases balloon to uncontrollable debt and problems. Despite the fact that credit cards are often considered convenient, unmanaged balances can quickly become financial headaches for many American cardholders.

Card Companies Monitoring Practices to be Revealed by Study [12:00:00 AM Saturday, September 05, 2009]

A little known provision of the credit card Act of 2009 is expected to shed some light on a credit card industry practice often criticized. Come May 2010, the federal government will share its findings to the public regarding a study commissioned by Congress during the creation of the credit card bill.

Debit Overdraft Fees Slammed [12:00:00 AM Friday, September 04, 2009]

Consumer advocacy groups as well as critics are calling for tougher regulation of an industry practice what they claim is unfair and misleading. Known in the credit industry as a "overdraft protection program" the practice is prevalent among card companies who issue debit cards. In the past, debit cardholders with empty bank accounts were usually able to enjoy their cards and use them for purchases. In recent years, however, banks and card issuers have resorted to charging unregulated fees whenever cardholders charge purchases to debit cards with empty accounts.

Experts Offer Advice on Credit Card Debt [12:00:00 AM Thursday, September 03, 2009]

Credit card specialists are weighing in on the issue of cardholders having excessive debt. With charge-off and delinquency rates at their highest levels in living memory, experts are advising millions of American consumers to rein in their credit purchases to avoid catastrophic financial problems. The mounting debt is also driving more and more card companies to closure. If unpaid credit balances continue to rise, analysts say that the credit industry can suffer tremendously.

Debit and Credit Cards Fraud Protection Weighed [12:00:00 AM Wednesday, September 02, 2009]

According to credit specialists, more and more Americans with credit cards are switching to debit cards to avoid incurring debt and facing huge interest rates. The demand for debit cards have ballooned in recent months, fueled by the recession and costly charges and fees slapped on by card companies. Unlike traditional credit cards, debit cards require a bank account as security against overspending and unpaid balances.

Credit Card Savings Tips Bared [12:00:00 AM Tuesday, September 01, 2009]

With rising charge-off and delinquency rates, card companies are raising just about any fees they can to maximize revenues. Banks are also racing against time to get the most out of their cardholders before tougher credit measures are implemented by the federal government next year. These circumstances have resulted in more expenses on the side of millions of American consumers.

Card Companies Cut Credit Limit for 58 Million Cards [12:00:00 AM Monday, August 31, 2009]

In a bid to stem growing losses, banks and card issuers are stepping up efforts to cut credit lines and close down accounts considered as risks. A FICO sponsored study discovered that 58 million cards saw their limits drastically cut during a 12-month period ending in April this year. Analysts say that the cuts were the result of banks trying to minimize growing losses because of the economic recession.

Feds Alarmed by Biggest Card Fraud Ever [12:00:00 AM Sunday, August 30, 2009]

Federal investigators have disclosed lately that they have found more compelling evidence to prove the guilt of its one-time asset and informant, Albert Gonzalez. Gonzalez was arrested last year and indicted for defrauding thousands of cardholders and storing large amounts of cash.

U.S. Credit Card Payments Show Improvement [12:00:00 AM Saturday, August 29, 2009]

The credit industry's hopes were raised this month as Moody's released the most recent set of figures about charge-off rates and delinquency rates. American cardholders showed significant improvement regarding delayed payments, with the latest figures the first drops in charge-offs and delinquencies since September of last year.

Experts Warn CARD Act may Benefit Issuers [12:00:00 AM Friday, August 28, 2009]

Despite the excitement and anticipation for the Obama administration's CARD Act of 2009, analysts are warning that the new measures can actually benefit card companies, instead of helping cardholders. While the law itself is designed to protect consumers from the common practices of card companies, the period preceding its implementation is giving issuers more time to maximize their profit at the expense of cardholders.

Illinois to Implement Measures against Credit Cards on Campus [12:00:00 AM Thursday, August 27, 2009]

Gov. Pat Quinn of Illinois state signed into law a new measure that will further restrict how credit card companies get new clients on college campuses. Consumer advocacy groups have recently expressed dismay and alarm over the aggressive marketing strategies usually implemented by card issuers. College students are often the favorite clients of most card firms because of their perceived lavish spending and high-paying jobs in the future.

Cardholders Told: Beware of Changes to Terms [12:00:00 AM Wednesday, August 26, 2009]

The economic pinch and new measures curbing the power of the credit industry are forcing many card companies to resort to less-than-desirable strategies, credit specialists say. To avoid the tougher regulations, issuers are raising interest rates and slapping on charges in anticipation of lower revenues.

Prepaid Credit Cards Gaining Popularity says Experts [12:00:00 AM Tuesday, August 25, 2009]

Americans are beginning to consider other alternatives to conventional credit cards, industry specialists say. Increasing interest rates, numerous penalties, and surcharges are forcing cardholders to consider other forms of credit to cut back on expenses. Despite the improving job market, analysts are cautioning against premature speculation of a U.S. economic recovery.

Card Companies Send More Mail Offers [12:00:00 AM Monday, August 24, 2009]

In a dramatic change of events, credit card issuers are starting to once again send credit card offers to American mailboxes. The new revelation is forcing economists to wonder whether the U.S. economy is on the road to recovery.

Small Businesses Reeling from Failed Card Companies [12:00:00 AM Sunday, August 23, 2009]

Mom and pop stores across the U.S. are starting to close shop as credit card companies are also shutting down. Because of the heavy reliance on business credit cards by many startups, hundreds of thousands of entrepreneurs are now struggling to settle debts and keep their businesses afloat.

Analysts Predict Fewer Delinquencies [12:00:00 AM Saturday, August 22, 2009]

Banks and card companies have raised fees and interest rates in recent months to counter the expected losses from a new law and the unstable job markets. Delinquencies also increased substantially a few months ago, fueled by the rising unemployment rate. With recent figures showing some improvement in the jobless rate, some economists have expressed optimism that the U.S. economy may well be on the road to recovery.

Tips Offered on How to Challenge Card Companies [12:00:00 AM Friday, August 21, 2009]

Even with economists predicting an earlier-than-expected recovery for the U.S. economy, more and more banks and credit card companies are resorting to drastic measures to cut losses.

Small Businesses Suffering from Card Debts [12:00:00 AM Thursday, August 20, 2009]

In the past, micro-businesses and startups relied on finance loans from lending companies and banks to set up shop. Over time, the establishments paid off these loans and managed to earn enough income to grow steadily. In recent years, however, entrepreneurs have turned to credit card financing for their needs.

Secured Cards Suggested for Debts [12:00:00 AM Wednesday, August 19, 2009]

Credit card debts and delinquencies are the highest in recent memory. The economic recession is forcing companies to lay off workers and employees, driving up the unemployment rate. Without jobs, Americans cannot pay their mounting credit card debts. Because of this, banks have to raise interest and slash credit limits.

Recession Brings More Credit Card Debt for Americans [12:00:00 AM Tuesday, August 18, 2009]

A recent study conducted by Demos, a research center, revealed that most American families are heavily in debt, thanks largely to their credit card usage.

Credit Card Use in Travel Discouraged [12:00:00 AM Monday, August 17, 2009]

Security experts and credit specialists are cautioning Americans against using their credit cards liberally when travelling. According to them, the risk of fraud and identity theft is higher than ever before. They add that this risk skyrockets especially when credit cards are used abroad. Without any stringent regulations and authorities to immediately act on a complaint, cardholders may find it difficult to sort out problems. Analysts also explain that using cards abroad can mean hefty fees and charges when cardholders make use of other banks' services.

Consumers Express Concern Over Credit Cards in Campus [12:00:00 AM Sunday, August 16, 2009]

Consumer groups have expressed alarm over the ease at which college students can get credit cards. According to some of the advocacy groups, the prevalence of plastic on campus has had a negative effect on the financial health and spending behaviors of many college undergraduates.

Banks, Card Companies Get Picky [12:00:00 AM Saturday, August 15, 2009]

Americans looking forward to getting new credit cards may be disappointed with the new playbook being used by card companies and banks. In a sudden reversal of policy, card issuers are getting picky in giving out credit cards to applicants.

Why Getting a Credit Report is a Good Idea [12:00:00 AM Friday, August 14, 2009]

Credit is undoubtedly the lifeblood of the American economy. Without credit, many consumers and their families would not be enjoying so many amenities and great things right now. People can buy anything they want without having to wait too long thanks to credit.

The Importance of Credit Report Monitoring [12:00:00 AM Thursday, August 13, 2009]

The use of credit is so ingrained in American culture and society that credit cards have become the ultimate status symbol. More than that, credit gives consumers the financial liberty to purchase almost anything and enjoy the benefits immediately. Because of this system, the U.S. economy has grown to enormous heights.

Improving Credit One Step at a Time [12:00:00 AM Wednesday, August 12, 2009]

Credit is the main lifeblood of the great American economy. It allows consumers the financial freedom to buy almost anything, anytime they want. Without credit, the American way of life could never be the same. Research has shown that more families are increasingly relying on credit cards for their essential needs. Because of this, having a clean credit record has become even more important. Without good credit histories and records, consumers can expect little or no opportunity to pursue other financial options.

How to Dispute a Credit Report Error [12:00:00 AM Tuesday, August 11, 2009]

Credit reports give financial institutions the convenience of assessing the financial health of a cardholder. By simply relying on the data provided in the records, banks and lenders can see the credit worthiness of a potential borrower. However, this convenience can also work against cardholders, especially if the reports contain potentially damaging errors.

Factors that Affect Credit Report Ratings [12:00:00 AM Monday, August 10, 2009]

Because of credit's importance in the economy, there is a real need for quick, convenient, and comprehensive records about consumers' financial health. Creditors, lenders, and banks rely on clients' histories and credit records to be able to determine whether an individual is worthy to be extended financial services. To address this urgent need, credit reports were created.

Education as the Key to Good Credit Report Ratings [12:00:00 AM Sunday, August 09, 2009]

It is true that credit has allowed the great American economy to push new boundaries. Without credit, consumers would be left gawking at display windows instead of enjoying their dream products immediately. Businesses and startups would also fail if it were not for credit. The credit industry, for better or worse, has made the U.S. reliant on plastic.

Bankruptcies and False Credit Reports [12:00:00 AM Saturday, August 08, 2009]

The severe economic slowdown is forcing an increasing number of Americans to opt for bankruptcy to avoid paying debts. While not a sure way of getting out of debt, bankruptcy can protect consumers from lenders and creditors.

Seniors Sinking in More Credit Card Debts [12:00:00 AM Friday, August 07, 2009]

A study conducted by Demos, a research group, has revealed some startling facts about credit card debts in the U.S. With the average credit card debt at more than $4,000 by the time many Americans get out of college, the research is poised to develop renewed interest in card debts.

Senator to Investigate Unauthorized Credit Charges [12:00:00 AM Thursday, August 06, 2009]

Most Americans at one point or another has dealt with or heard of unauthorized credit card charges. In fact, a large portion of credit card complaints is related to unwanted charges.

Credit Card Complaints on the Rise [12:00:00 AM Wednesday, August 05, 2009]

With the economic recession not showing any signs of waning, Americans are gearing up for tougher times. Card companies are also preparing for the worse to come, slashing credit limits and implementing aggressive collection practices.

College Students Told to Be Wary of Credit Cards [12:00:00 AM Tuesday, August 04, 2009]

For many freshmen, having a credit card means convenient and hassle-free purchases and payments. With plastic, most college students think that they can avoid bringing cash with them.

Card issuers to Offer New Rewards Scheme [12:00:00 AM Monday, August 03, 2009]

Cardholders who are fond of collecting points for free gas or airline tickets may find a new rewards scheme interesting.

Americans Using Plastic for Basic Expenses [12:00:00 AM Sunday, August 02, 2009]

A recent study has revealed that more and more Americans are turning to their credit cards to cover basic living expenses.

Americans Beat Europeans for Credit Frugality [12:00:00 AM Saturday, August 01, 2009]

Despite the common image of Americans as lavish, a recent survey has revealed otherwise. In fact, the findings conclude that Americans are even more frugal than Italians and Germans when it comes to giving up credit cards.

Teens Face Tough Credit Restrictions [12:00:00 AM Friday, July 31, 2009]

Life without plastic is unthinkable. So says majority of Americans who depend on their credit cards to buy groceries, fill up their gas tanks, and pay bills every month. America's consumerism society has had a complex relationship with credit cards. For many, plastic has become indispensable. However, for those who have financial problems, cards can spell disaster.

Cardholders Told to Prepare for Higher Fees [12:00:00 AM Thursday, July 30, 2009]

Industry experts and credit analysts are advising American cardholders to prepare themselves against expected hikes in credit card fees and charges.

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For the past few years, college campuses have been a very promising market for banks and credit companies. There has been a lot of talk about the pros and cons of student credit card applications. While some people believe that student credit deals are nothing but a dangerous financial weapon, the others consider credit cards for students as the integral part of financial freedom. Anyway, credit deals for students were readily available in the recent years, but things have changed greatly. And now in tough economic times, youth folks may find it more difficult to get access to credit. So, the question becomes: how to apply for a student credit card in difficult economic times?

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When choosing between numerous credit card applications, we want to get the most of our new card. Even though there’s no card that is right for everyone, many credit offers present some tempting features designed to entice you to submit your application online. Whether it’s a large amount of complimentary bonus rewards points or zero interest rates for a certain period of time, you may be enticed to apply for the product that doesn’t fit your individual needs. The question is, how to choose the card that is right for you? Read more about the terms and conditions you should look at when selecting the best credit card.

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