Related Blog Posts
New Credit Card Rules Start February 22
19 hours ago ago from Morrison World News
New federal rules intended to shield consumers from costly anti-consumer practices often called in the credit card industry take effect on February 22 , according to the Federal Reserve Board. Among other things, the new rule taking effect February 22 will: Prohibit unexpected interest rate increases during the first year an account has been opened. Prohibit the issuance of credit cards to minors without proof of creditworthiness or ...
Related contentConsumer Credit What Good News?
12 hours ago ago from Credit Cards, Bank Rates, Insurance, Loans, Debts and Mortgages News
Bloomberg said: Feb. 5 (Bloomberg) U.S. stocks rose, rebounding from the biggest losses since March, as investors speculated the European Union may come up with a solution for budget deficits in Greece and Spain and consumer credit dropped less than forecast. Bah. Here's the shorter-term outstanding credit picture And the rate of change . Yes, there was a small uptick in non-revolving debt taken on (cars?) but the ...
Related contentCredit Cards on the Decline
11 hours ago ago from Main Street
A credit-card-debtor nation no more? That may be taking it a bit far, but : Credit card usage is slowing. Revolving credit — largely made up of credit card debt — fell by nearly 20% in November, the largest drop on record, according to the Federal Reserve, reflecting less borrowing by consumers and banks' tighter lending standards. Through October, the number of new credit card accounts was down 46% from the same period in 2008, ...
Related contentThe Financials Pit Review
13 hours ago ago from Commodity Futures,Forex, and Options Trading News, Articles and Trading Strategies
Tuesday, February 9, 2010 It was announced this morning that consumers are paying off credit cards and purchasing new vehicles. This is now the 11th straight month showing that consumers would rather pay credit cards off. Consumers are still displaying trepidation by borrowing and not spending money out of pocket. Basically, this means people would rather purchase a new car, buy an education, or buy needed items, rather than put clothes or ...
Related contentHigher Interest Rates, Lower Lines Of Credit!
22 hours ago ago from Leadpile's Blog
As if consumers do not have enough financial stress to worry about, the credit card companies are decreasing credit limits and increasing annual percentage rates. Due to the high number of people without jobs and suffering financial hardship, the credit card companies have had billions of dollars worth of losses. To attempt to fill in the gap, the card companies are making changes effecting card holders who are behind in payments in addition ...
Related contentRelated News
Poll: On eve of credit card reform, few understand what new law holds - FOXBusiness.com
1 hour, 6 minutes ago ago from FOX Business
Existing users please login User Name: Password: Remember me on this computer Home / Personal Finance Tuesday, February 09, 2010 Poll: On eve of credit card reform, few understand what new law holds  By Martin Merzer CreditCards.com  Less than two ...
Related contentJames Kwak: Elizabeth Warren Calls Out Wall Street
22 hours ago ago from Huffington Post
Although the Consumer Financial Protection Agency made it through the House more or less intact, the banking lobby is taking another, better shot at killing it in the Senate, and is planning to use the magic words: "big government" and "bureaucracy." Elizabeth Warren wrote an op-ed for Tuesday's Wall Street Journal that lays out the confrontation. For most of the past two decades, many Americans trusted the banking industry-not necessarily to ...
Related content
