The Sunday New York Times had a good story about the 2,000+ debt settlement companies in the United States and some of the controversy surrounding them. Debt settlement firms market themselves as a solution for people with crippling credit card debt. The idea is that you pay the settlement firm to negotiate with the credit [...]
Before the financial crisis I, like most Americans, received a lot of credit card offers in the mail. What used to be a steady stream has now slowed to a trickle so I’m paying a little more attention to the occasional “good deal” teaser offer. Last week one of them caught my eye. Capital One [...]
Kiplinger‘s Personal Finance Editor Janet Bodnar wrote a feature on credit cards, debit cards, and teens. Her article recieved a large number of responses from parents who wanted to weigh in on the issue–one that I find very interesting and relevant to what’s happening in today’s economy. Bodnar questioned whether parents should allow teens to [...]
As federal legislation is being considered to hopefully reign in the sometimes questionable practices of credit card companies, it’s important for consumers to continue to protect themselves financially–especially in today’s tough economy. The website CreditCards.com has a glossary of credit card-related terms that can help indicate to users when they may be in financial trouble. [...]
“Americans are managing their credit better as the recession deepens,” according to this AP article. The unemployment rate is rising fast, but a major credit tracking agency found that “the number of people three months behind on bankcard payments fell 11 percent in the fourth quarter of 2008.” So are things getting better or worse? [...]
Nearly half of American banks cut their customers’ credit limits in late 2008, but a little preparation can help keep your borrowing options open.
February 20, 2009 – 2:15 pm
Many people have accumulated a wallet full of rarely-used credit cards. After signing up for a few airline mile rewards cards, cash back promotions, etc., it’s not uncommon for Americans to have 20 or 30 cards in their name, and to use only one or two of them. Canceling unused cards that charge an annual [...]
February 16, 2009 – 4:28 pm
Sens. Chris Dodd (D-CT) and Carl Levin (D-MI) today introduced a new bill to help shield credit card holders from exorbitant fees and penalty interest rates. The legislation would, amongst other things, restrict credit card companies from charging customers for snail mail or telephone payments, institute a number of restrictions on how card issuers can [...]
