Paid on Time? Too Bad!
If you have been relying on credit cards to get by each month, you may need to borrow money just to pay the minimum payment these days. Credit card companies are raising interest rates dramatically in an effort to stay ahead of the declining economy. But [...]
Convenience – But At What Cost?
Using credit cards can be a pleasure and a pain. Will anonymous credit cards make security one less thing to worry about? (Photo: flickr.com)
Credit cards are both a blessing and a curse for millions of people worldwide. Managed use of this form of consumer credit [...]
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 [...]
Moving can be a disaster
No one wants to max out their credit cards when moving. But that’s what happened to John Winston of Salem, Massachusetts: “We were a simple move…going to a neighboring city. Our moving company promised that it would cost $875, and a possible added cost for extra [...]
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 [...]
Summer plans
Now that the recession is leveling off, many people are getting ready to start using their credit cards again. Because the economy is projected to reach its turnaround point mid-summer, consumers are looking to use their cards to pay for summer vacations.
Marilyn Dean of Los Angeles, California stated, [...]
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 [...]
Settling Debt
A new study is showing that many lending companies are settling debts on delinquent credit cards. As a new way of mitigating losses, many credit card companies are settling cards for notably less than the total amounts owed. Edward McClelland, a writer in Chicago, is a consumer who had [...]
Temper, Temper, Novak Djokovic
“Use one of your credit cards, Novak!” I shout from my semi-comatose position on the couch. I just witnessed a tennis player’s breakdown that’s going to cost him money, maybe lots of it. Novak Djokovic missed a tiny little lob over the net and smashed his racquet [...]
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” [...]
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 [...]
A troubled market
Lenders are starting to offer credit cards to consumers again. It’s no secret that lending to troubled borrowers was the beginning of the credit-industry downfall. Have credit card companies learned a lesson? Or are they headed down the same road again?
Brenda Jerez, who recently overcame credit problems [...]
Obama calls for immediate credit card reform
Consumers are still relying on payday loans to make ends meet as President Obama calls for credit card reform. The President is demanding a credit card reform bill by the end of this month. “Americans know that they have a responsibility to live within [...]
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. [...]
Running From My Credit Card Nightmare
I’ll be honest with you. My history with credit cards was nothing to write home about. In fact, it was downright scary.
I’d been irresponsible. When I was young, I thought that money was easy to come by, as my parents seemed able to buy me [...]
Unclear on Your Financial Goals? Don’t Invest!
The one thing you need to do in order to prepare for investing, besides applying for a short term loan, is to get completely clear on your financial goals. This will help to determine how much you need to invest, as well as how [...]
The Lure of Convenience Foods
Ever wonder how you can rack up such a huge credit card debt so fast? Many people tend to use their credit cards at grocery stores, mostly buying convenience foods. Why the lure of these items? Why is it that people would rather spend money on [...]
Yes on H.R. 627, in spite of the CRL’s support
I am not a fan of the Center For Responsible Lending. It isn’t because I’m against responsible lending, it’s because at the root, they do not in fact advocate responsible lending. Any group whose leadership supports toxic housing market activities of [...]
Before you use your credit card
The most powerful votes we cast are the little choices we make every day. We put a lot of time and effort into debating and formulating world-wide environmental issues and solutions. But on Earth Day it seems appropriate for us to stand back [...]