Archive for Credit Card News
Make Credit Card Debt Disappear with Debt Relief Solutions
Most credit card companies have begun to jack the interest rates on credit cards in an effort to make up for lost revenues. People with a job that can document monthly income can get a few credit cards, but they won’t get too excited about the credit limits. Unfortunately, the recession has caused a lot [...]
Credit Card Debt Settlement
Debt settlement companies continue to report increased volumes for debt relief applications online. More and more U.S. consumers have been stuck with credit card debt they can no longer afford. After the bankruptcy laws changed, credit card debt settlement became more of a viable option for people looking to save money and become debt free. [...]
Consumers Caused Financial Crisis with Credit Cards
Richard Geisst, a former investment banker published a new book, “Collateral Damaged: The Marketing of Consumer Debt to America.” In the book, Geisst traces America’s credit history and finds it riddled with sleepy regulators, congressional nit-wits and sinister financial firms making euphemistic lures to consumers. “A credit card offers $10,000 of credit, not debt. It [...]
Ways to Deal with Bad Debt
Offers promising to combine high rate loans and lower interest can end up costing you more, says Bina Brown. With interest rates at their lowest level in years, now may be the time to look at spending habits with a view to paying off as much “bad” debt as possible. Data from the Reserve Bank of [...]
Debt Settlement and Negotiations for Credit Card Debt
Credit card debt continues to rise, as home values erode and unemployment soars. These are not good signs for performing credit card portfolios as debt settlement and debt negotiations has become a regular option for debt burdened consumers seeking debt relief. Bankruptcy, consumer credit counseling and debt consolidation are all viable options for many Americans [...]
Credit Card Debt Crisis Video
The next crisis will be credit card defaults by the millions of unemployed. Many finance evaluators predict that the next crisis will surely be credit card defaults by the millions of unemployed. Unless we take dramtic corrective actions, the foreclosure and credit crisis could further exacerbate the crisis and leading us closer to another Great [...]
US Credit Card Debt Is Ticking Time Bomb
Rick Sanchez talks to the US Comptroller General about the serious problem of growing consumer credit card debt in the United States.
Credit Card Defaults to reach 100 Billion dollars in 2009.The next crisis will be credit card defaults by the millions of unemployed. Further exacerbating the crisis and leading us closer to another Great Depression.
Consolidating or Negotiating a Settlement for Revolving Debt
Bill Consolidation or Debt Settlement? Most borrowers with good credit scores chose debt consolidation over debt settlement, because consolidating debt with an installment loan will actually help raise the credit cards, because of the decrease in revolving debt and decrease in debt to income ratio after a borrower converts compounding interest to simple interest. The [...]
Credit Card Interest Rates Rise Dramatically
As the economic crisis continues, credit card interest rates are rising dramatically for many consumers who may not even be aware of the increases.
Watch this financial video and coinsider the credit crisis and the rising level credit card debt for Americans. Bankruptcies, loan modifications, foreclosures and debt settlement activities continue to break annual [...]
The Value of Good Credit Scores
Even in good economic times higher credit scores help you qualify for more credit at a lower interest rates, which is important for home buying, car buying, etc. Now, with credit markets being clamped down so tight, the value of good credit scores cannot be overstated because you pretty much can’t get a conventional mortgage [...]