‘Imagine opening your credit card statement to find that your low, low rate has more than doubled, even though you’ve always paid your bills on time.
It happens, and it’s happening more and more frequently, says a consumer-watchdog group. Nearly half of banks surveyed by Consumer Action now penalize cardholders for changes in their credit history [...]
‘Back-To-School Survey Finds ‘Developing Good Financial Skills’ May be a Greater Concern Than ‘Following the Wrong Crowd’ and ‘Drugs/Alcohol Use’
Visa USA, today, released the results of its annual back-to-school survey which found that a top concern of parents is the development of their children’s personal money management skills.
According to the July survey of parents of [...]
(NPR) Host Jennifer Ludden looks at how the credit card industry markets to teenagers. Legally, banks may not issue credit cards to minors, but solicitations for cards often go out to kids under 18. It seems the card issuers are counting on parents to bail their kids out when they overcharge.
‘For many consumers, a mountain of credit card debt becomes an impossible situation when the monthly payments extend beyond reach. Consumers may feel they are backed into a corner and have no viable alternatives. As a result, it can be very comforting to discover that someone, such as a credit counselor, is on their side. [...]
Community Dispatch has a great article that gives consumers a guide to making E-Payments - or making online purchases.
‘The Internet has taken its place beside the telephone and television as an important part of people’s lives. Consumers use the Internet to shop, bank and invest online. Most consumers use credit or debit cards to pay [...]
‘EXTREME debt is becoming a problem for more and more British people, who owe sums running into six figures, the country’s biggest debt management charity has warned.
In a survey of its 60,000 clients, the Consumer Credit Counselling Service (CCCS) found that more than 800 people had loans totalling £100,000 or more. One person was nearly [...]
‘SOARING borrowing on credit cards could threaten Britain’s financial stability, the Bank of England has warned. Its latest assessment will raise serious questions over the current record debt levels. The Bank says they may be building up ‘vulnerability for the long term’.
Its six-monthly Financial Stability Report coincides with the peak Christmas spending period, which poses [...]
‘HSBC today became the second major UK bank in as many days to point to a slowdown in consumer borrowing.
Britain’s biggest bank by market value said it was starting to see “some evidence of weaker consumer credit experience” in the domestic market following five interest rises since November last year.
Yesterday, Edinburgh-based Royal Bank of Scotland [...]
‘America’s decadent ways and its desire to party like it’s 1999 _ literally _ has generated a skyrocketing national debt that many economists fear will burden the nation’s balance sheet in the near future.
After achieving a balanced budget in the latter years of the Clinton administration, the United States has seen the red ink steadily [...]
‘The man known as “Mr. Plastic Fantastic” has great credit. So great, in fact, that it takes a wallet nearly as long as a football field to carry his credit cards.
Walter Cavanagh owns 1,497 valid credit cards (he assumes a card is valid until he hears otherwise) with a potential credit line of about $1.7 [...]