credit cards

Lenders Watching Credit Cards And How Consumers Use Them

Companies issuing credit cards are taking on a new tactic to monitor their risk. Now they are watching, and compiling, what borrowers are spending their money on and where they are shopping. How do they monitor credit card risk? The purpose is to calculate who may be a credit risk and methodically weed them out
Changes in the credit card industry hit consumers hard. Payday loans may indeed be the more viable option for cash-conscious consumers. (Photo: flickr.com)

Payday Loans Becoming a Viable Option to Credit Limits

Consumers and Payday Loans Payday loans are proving themselves to be lifesavers in today’s economy.  Traditional lenders are closing doors quickly to extending credit and it’s leaving Americans in a panic.  Bills are being left until last minute, expenses are being cut drastically and families are downsizing to handle the strain.  Normally credit card companies
Two women discussing credit card debt relief.

Efficient tips for reaching credit card debt relief

There are many efficient tips for reaching credit card debt relief. However, if you find yourself struggling under the grips of debt, you may sometimes feel as if there is no way out of your situation. Nevertheless, there are many different techniques you can use to overcome the debt that you have acquired throughout your
Credit cards should be used carefully. However, if you need a car, the incentives available now could make using a credit card to buy a car feasible. (Photo: picasaweb.google.com)

It’s the Right Time to Use Credit Cards to Buy a Car

Car Buying in a Recession If consumers are in the need of a car, this may be the right time to use credit cards to do it. Most dealerships have huge inventories and no way to get rid of them. The recession has put auto dealers in difficult positions, since most Americans are in no
That's a monster of an APR you've got there, First Premier Bank. Give me a payday loan instead!

80 Percent APR Credit Card Terrorizes Consumers

First Premier Bank Skirts Credit Card Law with Subprime Credit Card Back in June of 2009, Deborah Weiss of Personal Money Store reported about how the new credit card laws could backfire on hard-working Americans. It’s unlikely that President Obama or most members of Congress could have predicted then just how much of an end-around

How To Go About Organizing Your Bills

Bills, Bills, Bills You see them every day, and you hate to open them. What more exciting news could they possibly bring than reminding you of your obligation? Don’t they realize there is a recession going on? Do they think you have extra cash lying around? Rather than looking at them like the 800-pound ogre

Prepaid Credit Cards Can Help Build Your Credit

What is a prepaid credit card? In the current credit crunch, obtaining credit has become more difficult than ever. Even people who previously had no trouble applying for credit cards or loans are finding their applications turned down in this grim financial market. Unfortunately, however, credit cards are required for many different transactions, from renting
Credit cards are an important part of consumer finance. Understand them well! (Photo: flickr.com)

To Manage Finances, Consumers Must Understand Credit Cards

Learn to Manage Credit Cards Consumers are suffering financially due to the recession and need to know how to manage their credit cards, savings and investment accounts. In today’s society, credit cards are a staple. Their convenience and many uses make them one of the easiest ways of purchasing items. Unfortunately, they are also a
This Federal Reserve/Vanderbilt/Penn study tries to connect payday loans to credit ruin, but what they leave out suggests a rosier alternative. (Photo: flickr.com)

Fed Study Unintentionally Paints Rosier Picture for Payday Loans

Why Use Credit Cards When There Are Payday Loans? Credit cards have proven to be both a useful tool in establishing a credit history and a bane to those consumers who hope to maintain a good credit history. The temptation to “swipe and go” has been actively cultivated by the American media. With the magic

Payday loans direct versus credit card and long-term loans

Students and credit cards What is seldom or, in fact, never advertised are the actual costs involved when using a credit card as a cash flow mechanism, specifically for the employed student who is battling to balance financial tasks, not to mention their studies and part time employment duties. These costs and charges contained within

Major Benefits of the New Laws for Credit Cards

New laws The Obama administration is working hard to reform laws for companies who issue credit cards. On May 22, the president signed off on the Credit Card Accountability, Responsibility and Disclosure, or Credit CARD, act of 2009. The bill is set to improve the way companies deal with consumers and act as a watchdog
Bank of America

Bank profits tumble as new laws for credit cards start working

New regulations for credit cards on how interest rates and fees can be assessed are working. However, some loan lenders are lamenting the new rules that require greater disclosure when changing terms with customers. Outlawing guerrilla-style fee and interest raises has led Bank of America and other companies to lose value from credit card units.

Unsecured loans being offered to college-aged consumers

Unsecured loans are the newest concern for young people. Now that credit card companies are in trouble, they are looking for new ways of generating revenue. The recession was a difficult time for everyone, and that includes credit lenders. Companies suddenly had to deal with huge losses as a result of defaulting loans. To mitigate

How to Get Out of Debt Fast

Do you want to get out of debt as quickly as possible? Getting out of debt is very challenging for many people. Many people are conflicted with getting out of debt as quickly as possible, but they do not know which options are right for them at the moment. There are many companies advertising their

Installment Loans can Help Save Credit Scores

Where credit has taken consumers Installment loans can help save credit scores. In the market today, there are many changes in the world of credit. It used to be that credit cards were reliable options when consumers were faced with emergencies. Many people had that one credit card they kept in the kitchen drawer. It

Secured Credit Cards Can Help Reestablish Credit

Secured credit cards can improve credit ratings A secured credit card is a good way to reestablish credit. Even for those who do not have a bad credit history, a secured credit card can be a safe way to control spending and avoid bad debt. Knowing exactly what these cards are and how they work
Credit cards

Credit Cards Newest Area of Potential Problems for Banks

Banks and credit cards Banks have suffered through the recession with huge mortgage industry defaults, but a new fear that credit cards will do the same is looming. Ken Lewis, Bank of America CEO, stated he believes that despite the government’s $700 billion rescue program, it will be “an awful year” for credit cards and