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Category: Credit Card Debt

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Benefits And Drawbacks Of New Credit Card Debt Laws

Although there hasn’t been nearly enough time for the effects of the Credit Card Accountability Responsibility and Disclosure Act — passed into law by the Congress of the United States of America in the late spring of 2009 (and implemented at the beginning of last year) — to be properly assessed, commentators and pundits have...

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Are you using the wrong credit card?

You may be thinking a credit card is a credit card, so there’s really no difference between two squares of the same plastic. This cannot be farther from the truth. Credit cards, like anything else in life, have a certain quality to them and your current card may be completely wrong for your lifestyle and...

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A College Freshman’s Guide To Credit Card Debt

When surveyed about the reasons that they first take out a credit card, college students inevitably rank a concern for credit scores as their primary motivation, beating out even convenience and protection in case of emergencies.  To a degree, of course, this is utterly specious, and we would expect our most responsible and ambitious young...

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New Government Watchdog Group Monitors Credit Card Debt Companies

Although the legislation empowering the Consumer Financial Protection division of the federal government won’t formally take effect until the third week of July, the largest corporations issuing credit card debt accounts have already started making changes to their policies in anticipation of the coming industry-wide upheaval.  Thus far, while waiting for their formal mandate to...

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Credit Card Defaults Hit New Low

Five out of six major credit card providers in the US have reported further reductions in credit card debt. Overall credit card debt stood at $785 billion at the end of March, according to the Federal Reserve. Figures for April show only Bank of America with increasing debt balances with approximately 1 in 12 in...

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New Limits On Credit Card Debt Spending

In this age of credit card debt relief nightmares, when so very many Americans find themselves in the position of begging lenders for debt settlement negotiation just to avoid bankruptcy. It seems a tad silly that anyone would spend time worrying over what they can’t buy through card accounts, but lending banks have increasingly decided...

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Consolidating Your Credit Debts to Save Money

Consolidating your credit card debt is one of the best moves you can make to save money.  This is a crucial step in improving your credit score for the future and ensuring you have enough money each month.  With the numerous advantages for all cardholders who take advantage of credit card debt consolidation, it’s a...

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How To Be Debt Free

The credit boom and subsequent credit crunch of the last decade have left many Americans with an overwhelming level of debt that they have no real means of ever paying back. This will no doubt have a contributory factor in the 20% rise in personal bankruptcy filings witnessed during 2010. If you are one of...