2010 News Archive

December 2010

Low card fees may not help credit card debt

Dec 30, 2010 |

Recent legislation cutting debit card transaction fees may not be as beneficial as most consumer advocates, merchants and cardholders think, a new report says.

Category icon Credit Cards, Financial Wellness

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Consumers cut credit card debt again in November

Dec 29, 2010 |

Credit ratings company, Moody's Investors Service, announced last week that the charge-off rate on Americans' credit card debt declined industrywide for the fourth consecutive month.

Category icon Credit Cards, Financial Wellness

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New debit fee reductions could help consumers cut debt in 2011

Dec 29, 2010 |

Consumers concerned with their monthly budgeting received welcome news today, as the Federal Reserve proposed rules that could cut debit card transaction fees by 90 percent.

Category icon Credit Cards, Financial Wellness

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Debt settlement companies finding ways to avoid new regulations

Dec 28, 2010 |

Consumers looking for protection from deceptive debt settlement companies received welcome news when the Federal Trade Commission issued stricter regulations this year.

Category icon Consumer Rights, Debt Collection

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Holiday Bills Fill the Mailbox in the New Year

Dec 28, 2010 |

Rising minimum payments and reduced credit limits coupled with record levels of unemployment are challenges for many Americans as we enter 2011.

Category icon Budgeting, Holidays

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Debit cards may not reduce credit card debt

Dec 27, 2010 |

This holiday season, many consumers have been using debit instead of credit as their primary mode of payment at checkout.

Category icon Credit Cards, Financial Wellness

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FTC sues Internet companies for credit card debt inducing scam

Dec 27, 2010 |

Consumers who racked up credit card debt unfairly in a number of states are receiving much-needed relief following a recent Federal Trade Commission announcement.

Category icon Consumer Rights, Credit Cards, Debt Collection

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Utah joins lawsuit against major credit card companies

Dec 23, 2010 |

This week, Utah became the latest state to join an ongoing antitrust lawsuit against major credit card companies.

Category icon Consumer Rights, Credit Cards

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Suspicions of mortgage fraud rise in government agency

Dec 23, 2010 |

Mortgage loan delinquencies have fallen in recent weeks, as consumers continue to make timely payments to lenders, cut their credit card debt and improve their finances.

Category icon Consumer Rights, Housing

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Student loan debt increases in Ohio

Dec 22, 2010 |

Statistics show student loan debt is growing at an average of 6 percent annually. Could it replace credit card debt as fastest growing debt source?

Category icon Articles

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Shredding credit card offers may be safest option

Dec 22, 2010 |

Consumer mailboxes have been increasingly flooded with credit card offers in recent weeks, as issuers attempt to attract holiday shoppers into new deals.

Category icon Credit Cards, Financial Wellness

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Credit card industry could soon face robo-signing crisis

Dec 21, 2010 |

Companies that collect consumers' defaulted credit card debt may soon be facing a meltdown similar to the one recently experienced by mortgage lenders, according to a new report.

Category icon Credit Cards, Financial Wellness

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Consumers continue to avoid credit for online purchases

Dec 21, 2010 |

While the economic downturn has not reduced consumer's online spending, it has significantly altered the way they choose to pay for purchases, a new report says.

Category icon Credit Cards, Financial Wellness

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Consumers could rack up more credit card debt next year

Dec 21, 2010 |

As a result of recent debit card fee legislation, credit card users could see a host of changes coming in the new year.

Category icon Credit Cards, Financial Wellness

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MIT lab creates wallet to reduce credit card debt

Dec 20, 2010 |

In recent months, consumers have turned to debit, checks and cash as alternatives to help them with their holiday budgeting.

Category icon Credit Cards, Financial Wellness

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As Credit Card Usage Declines, Rewards & Bonus Points Go Up

Dec 20, 2010 |

Consolidated Credit offers cautious tips for consumers to consider when trying to get the most credit card rewards and offers from their creditors.

Category icon Budgeting, Holidays

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FTC aims to close another debt settlement business

Dec 20, 2010 |

In recent months, the Federal Trade Commission has passed a number of new regulations that were meant to cut down on deceptive practices by debt settlement companies.

Category icon Consumer Rights, Debt Collection

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U.S. travelers receive new microchip card

Dec 17, 2010 |

Due to a technological gap between the U.S. and Europe, American travelers have recently been experiencing many troubles with credit cards across the Atlantic.

Category icon Credit Cards, Travel

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Using cash for online purchases can help avoid credit card debt

Dec 17, 2010 |

For the first part of the holiday season, shopping online has become an increasingly popular option among consumers looking to avoid long holiday lines and limited selection.

Category icon Budgeting, Financial Wellness, Holidays

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Delinquencies fall, but charge offs rise in November

Dec 16, 2010 |

In recent months, consumers have gone to great lengths to reduce delinquencies with their credit card companies, while these issuers in turn have been able to reduce charge offs as a result.

Category icon Credit Cards, Financial Wellness

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FTC shutters Texas debt settlement firms

Dec 16, 2010 |

In recent months, the Federal Trade Commission has been using new debt settlement regulations to shutter many businesses that have been fraudulently billing consumers.

Category icon Consumer Rights, Debt Collection, Debt Relief

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Poll finds workers looking to cut credit card debt in 2011

Dec 15, 2010 |

With 2010 slowly drawing to a close, many Americans are looking optimistically at the new year as a chance to return their finances to a healthy state.

Category icon Financial Wellness, Retirement, Seniors

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Americans reduce credit card debt in October

Dec 15, 2010 |

Consumers brought charge offs - late payments to credit card lenders, which are not expected to be repaid - to a 19-month low in October.

Category icon Credit Cards, Financial Wellness

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Federal Reserve set to weigh in on debit fees

Dec 14, 2010 |

In recent months, many consumers have turned to debit cards as a way to avoid racking up credit card debt while making holiday purchases.

Category icon Consumer Rights, Financial Wellness

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Credit use reaches 27-year low

Dec 14, 2010 |

Many Americans indicated their plans to rely less on their credit cards this shopping season in a variety of seasonal polls.

Category icon Credit Cards, Financial Wellness

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Online consumer spending increases this holiday season

Dec 13, 2010 |

After big postings during the Thanksgiving holiday weekend, consumers continued to spend heavily into the following weeks.

Category icon Financial Wellness, Holidays

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Consumers continue to reduce credit card use, Federal Reserve says

Dec 13, 2010 |

Americans continue to be weary of accumulating additional credit card debt, and have continued to switch to cash, checks and debit cards for purchases in recent months.

Category icon Credit Cards, Financial Wellness

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Unclogging mailbox may reduce credit card temptations

Dec 13, 2010 |

In recent months, issuers have been hoping to spur credit card use by sending out an increasingly large amount of new card offers in the mail.

Category icon Financial Wellness

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Cash, Credit or Debit?

Dec 13, 2010 |

Ramona Zaragoza is using strictly cash to buy holidays gifts after she lost her job at the end of last year. See how she plans to avoid holiday debt.

Category icon Financial Wellness, For Latinos, Holidays

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Americans cut credit card debt in October, Federal Reserve says

Dec 10, 2010 |

Over the past year, many Americans have been experiencing troubles with credit card debt that have led them to reduce their spending and cut borrowing.

Category icon Debt Relief, Financial Wellness

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Smartphone credit cards receive set backs

Dec 10, 2010 |

In recent months there have been many reports suggesting mobile smartphone technology could soon replace credit and debit cards as a type of mobile wallet.

Category icon Credit Cards

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Value of U.S. homes falls in 2010

Dec 10, 2010 |

American homeowners continue to struggle in the wake of the recent economic downturn, suffering from high credit card debt, mortgage delinquencies and the threat of foreclosure.

Category icon Financial Wellness, Homebuyers, Housing

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Credit card companies test new interactive cards

Dec 09, 2010 |

Credit cards have been getting some high-tech updates in recent months, which aim to make banking more convenient for cardholders and members.

Category icon Credit Cards

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Americans put off expectations for economic recovery

Dec 09, 2010 |

Consumers struggle to cut down on mounting credit card debt, foreclosures and other financial issues, while waiting for the predicted economic recovery.

Category icon Financial Wellness

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Report sees 1st time defaults rise, dissatisfaction with lenders

Dec 08, 2010 |

Borrowers and lenders alike have faced unforeseen ramifications of the downturn, including increases in credit card debt, foreclosure and bankruptcy.

Category icon Financial Wellness

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New high-tech pickpocketing could put credit cards at risk

Dec 08, 2010 |

Consumers have been taking steps to secure their credit cards in recent months by cutting down on debt and reducing payment delinquencies.

Category icon Credit Cards, Financial Wellness, Identity Theft

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Consumers are expected to cut credit card debt in 2011

Dec 08, 2010 |

Many Americans are looking to avoid added credit card debt this holiday season, choosing instead to use cash, checks and debit for purchases.

Category icon Credit Cards, Debt Relief, Financial Wellness

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Despite new regulations, debit card fees may grow next year

Dec 07, 2010 |

Consumers have begun to favor debit cards over credit, but a new report suggests when it comes to plastic, no one option holds the key to erasing debt.

Category icon Financial Wellness

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Average credit card balance declines

Dec 07, 2010 |

In the months leading up to the holiday season, many consumers have become concerned about credit card debt to the point where they've stopped using cards altogether.

Category icon Credit Cards, Financial Wellness

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Minnesota sues Discover, alleges deceptive practices

Dec 07, 2010 |

Consumers looking to avoid credit card debt in the state of Minnesota received a victory today as Minnesota Attorney General Lori Swanson filed a lawsuit with Discover Bank.

Category icon Consumer Rights, Credit Cards

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Credit card charge offs fall in October

Dec 06, 2010 |

While many consumers are still facing unemployment and credit card debt, new reports suggest a greater number of Americans are making timely payments to creditors.

Category icon Credit Cards, Financial Wellness

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Simpler credit-card agreement language could be on the way

Dec 06, 2010 |

In recent months, consumers have become more weary of credit card use, choosing to pay with checks, cash and debit cards to avoid debt.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Seniors continue to rack up credit card debt, bankruptcies

Dec 06, 2010 |

Seniors have experienced a sharp uptick in credit card debt in recent months; given a weak real estate market and economy, can they really afford debt?

Category icon Bankruptcy, Financial Wellness, Seniors

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Cash back a favored credit card advantage, consumers say

Dec 06, 2010 |

Loyalty programs can be a powerful marketing tool, effective at stimulating consumer spending while simultaneously helping those enrolled save money.

Category icon Credit Cards, Holidays

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Interest rate reduction offers could cause credit card debt

Dec 06, 2010 |

With the holiday season less than a month away from full swing, many struggling consumers may be turning to credit cards in order make those extra purchases on their loved one's wish lists.

Category icon Budgeting, Credit Cards, Debt Relief, Financial Wellness, Holidays, Saving

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Avoiding debt settlement scams

Dec 03, 2010 |

In recent months, many consumers have been facing an onslaught of debt and foreclosure, forcing them to make touch and sometimes rash decisions.

Category icon Consumer Rights, Debt Advice, Debt Collection

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Federal Reserve says debit is gaining on credit cards

Dec 03, 2010 |

In recent months many reports have indicated debit cards have quickly become the most prevalent payment method for consumers, rising to the top position long held by credit cards.

Category icon Financial Wellness

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“Main Street” merchants see Black Friday sales increase

Dec 03, 2010 |

Retailers saw an uptick in sales this holiday weekend as consumers rushed to cash in on Black Friday and Cyber Monday deals.

Category icon Financial Wellness, Housing

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Black Friday spending sees credit card decline

Dec 02, 2010 |

Americans continue to be weary of credit card debt in recent months and reports from Black Friday weekend show consumers carried this sentiment through the sales holiday.

Category icon Credit Cards, Financial Wellness, Holidays

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FTC regulations too late for those tricked by debt settlement firms

Dec 02, 2010 |

The U.S. Federal Trade Commission passed new regulations earlier this month barring debt settlement companies from falsely advertising and collecting advanced fees.

Category icon Consumer Rights, Debt Relief, Foreclosure, Homebuyers

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Mobile payment service looking to replace credit cards

Dec 01, 2010 |

Those looking to avoid mounting credit card debt have been turning to other options such as cash, debit and checks in recent months, a trend which could be buoyed by some hi-tech competition.

Category icon Financial Wellness

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Debit and prepaid card usage could hit new records

Dec 01, 2010 |

An additional 8 million Americans stopped using credit cards in the last fiscal quarter, marking the first significant figure in what has been a long predicted stoppage of credit card usage.

Category icon Financial Wellness, Holidays

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November 2010

Stores up the ante for holiday savings

Nov 30, 2010 |

While consumers are looking to save money on their gift-giving this winter, credit card companies are continuing to offer gifts of their own in order to inspire usage this holiday season.

Category icon Holidays

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More than 8 million consumers cease credit card use

Nov 29, 2010 |

Americans stuck to their debt reduction habits in the third quarter of 2010, as consumers continued to avoid credit cards and cut delinquency rates.

Category icon Credit Cards, Financial Wellness

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Black Friday boasts big gain for retailers

Nov 29, 2010 |

Retailers have been seeing increased spending in recent months as the economy stabilizes and consumers continue to avoid credit card debt.

Category icon Financial Wellness, Holidays

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Consumers can now use credit cards to make Salvation Army donations

Nov 29, 2010 |

After seeing a 8.5 percent decline in revenue, The Salvation army is looking to new online tactics to draw donations this holiday shopping season.

Category icon Credit Cards, Holidays

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Store credit cards give big boost to retail industry

Nov 29, 2010 |

This holiday season, consumers will likely find a big push on behalf of retailers to sign up new customers to their credit cards.

Category icon Credit Cards, Holidays

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Credit card accounts decline, report says

Nov 26, 2010 |

Credit card companies are attempting to spur spending this holiday season, offering rewards and sign-up incentives on new enrollment.

Category icon Credit Cards, Holidays

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Shoppers concerned about adding debt

Nov 25, 2010 |

With big shopping days like Black Friday and Cyber Monday still to come, more than two-thirds of shoppers are concerned about debt this holiday season.

Category icon Credit Cards, Holidays

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Cyber Monday may pose threat to consumers

Nov 24, 2010 |

The Monday after Thanksgiving, nicknamed Cyber Monday, replaced Black Friday as the most popular day for holiday shopping last year.

Category icon Credit Cards, Holidays, Identity Theft

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Consumers with credit debt get mortgage relief

Nov 23, 2010 |

The Federal Trade Commission announced today it plans to ban upfront fees charged to consumers who are looking for mortgage relief.

Category icon Credit Cards, Debt Relief, Homebuyers

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Picking the right credit card for debt relief

Nov 22, 2010 |

In the last 30 years, Americans have increased their credit card debt by more than $5 billion, rising from $95 million in 1981, to $5.4 billion this September.

Category icon Credit Cards, Debt Advice, Debt Relief

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Debt settlement firm to reimburse West Virginia

Nov 19, 2010 |

An Indiana debt settlement company has been ordered to pay West Virginia $175,000 as part of a settlement with the Mountain State's attorney general.

Category icon Consumer Rights, Credit Cards, Debt Collection

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Credit may beat debit for online purchases

Nov 18, 2010 |

Consumers who shop online are slated to outspend their mall-going counterparts this holiday season by nearly 25 percent, a new report says.

Category icon Credit Cards, Holidays

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Target attracting more consumers with store credit card

Nov 17, 2010 |

Retailers looking to ramp up holiday shopping have turned to store-brand credit cards, which offer more savings, but may bring more problems with debt.

Category icon Credit Cards, Holidays

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Buried under debt

Nov 16, 2010 |

Consumers continue to be hampered by the economic downturn, but America's elderly may face more problems than most demographics when it comes to debt.

Category icon Credit Cards, Debt Advice, Retirement, Seniors

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Consumers relying less on credit cards

Nov 16, 2010 |

This holiday season, more Americans vow to stick to their budgets in an effort to cut their credit card debts during this time of typically heightened spending.

Category icon Budgeting, Credit Cards, Financial Wellness, Holidays

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Courts shut down illegal credit card debt relief operation

Nov 16, 2010 |

At the request of the Federal Trade Commission, a district court in Chicago, Illinois, has closed an international robocall scheme that allegedly scammed those looking alleviate credit card debt.

Category icon Consumer Rights, Credit Cards, Debt Collection

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Mortgage counseling services on the rise

Nov 16, 2010 |

Consumers looking for relief from foreclosures, short selling, or credit card debt are receiving help as many cities are now offering homeownership workshops.

Category icon Financial Wellness, Homebuyers

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Study sees rise in consumer confidence

Nov 15, 2010 |

A preliminary consumer confidence study by the University of Michigan found consumer confidence is likely to increase in November, just in time for the holidays.

Category icon Credit Cards, Debt Relief, Holidays

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Credit card debt declines, lenders say

Nov 15, 2010 |

Capital One, the Virginia-based financial lender, reports charge offs and delinquencies declined in October, signaling that many consumers are paying off credit card debt.

Category icon Credit Cards, Debt Relief

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New York lawmaker releases credit card study

Nov 15, 2010 |

Consumers looking to cut credit card debt while conducting their holiday shopping may want to avoid store-brand offerings, a new report by New York representative Anthony Weiner says.

Category icon Consumer Rights, Credit Cards

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Consolidated Credit Partners With the United Way of Broward County

Nov 12, 2010 |

Consolidated Credit Counseling Services, Inc. is proud to announce its partnership with United Way of Broward County, the county's largest private funder of health and human services.

Category icon Company News

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Charity credit cards may not be best bet for consumers

Nov 12, 2010 |

Credit cards that give rewards points for purchases have been around for some time, offering consumers perks like free food, extra cash and special discounts.

Category icon Credit Cards, Financial Wellness

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Credit card debt may remain low, report says

Nov 12, 2010 |

Consumers have been taking steps to reduce their credit card debt, lowering payment delinquencies and using cash with greater frequency.

Category icon Credit Cards, Debt Relief

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Consumer Financial Protection Bureau to target credit card industry

Nov 11, 2010 |

Elizabeth Warren, a former Harvard professor, has been charged with setting up a new federal agency that will attempt to keep consumers from garnering credit card debt.

Category icon Consumer Rights, Credit Cards

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Arizona debt settlement firm faces huge fines

Nov 11, 2010 |

Debt settlement companies were recently hit with new regulations by federal regulators, which limit fee collections and advertising activities

Category icon Consumer Rights, Debt Collection

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American Express launches new online service

Nov 11, 2010 |

Credit card company American Express, launched inSite on Wednesday, a new service which will make it easier for its cardholders to hunt for deals, save money on bills, and avoid debts.

Category icon Credit Cards, Holidays

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Bankruptcy Filings Hit Five Year High

Nov 11, 2010 |

Even revolving credit card debt levels decline, bankruptcy filings hit a five-year high. Consolidated Credit offers tips to consumers who are struggling.

Category icon Bankruptcy, Credit Cards, Debt Advice

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Debt settlement industry could face huge losses

Nov 11, 2010 |

Debt settlement firms have typically used fast-talking radio and television advertisements that promise to cut credit card debt to attract consumers.

Category icon Consumer Rights, Debt Collection

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Credit card company promotes independent merchants

Nov 10, 2010 |

American Express is attempting to promote independent merchants by starting a Small Business Saturday.

Category icon Credit Cards, Holidays

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Credit card companies fight for share of Internet voice

Nov 10, 2010 |

Bank of America has the highest amount of banking conversations on the web, controlling 50 percent of the dialogue, according to a new report.

Category icon Banking, Credit Cards

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Gift card use expected to decline this year

Nov 09, 2010 |

Consumers have been turning away from credit cards and toward cash and debit alternatives in recent months, and a new report suggests this could mean a shift away from prepaid gift cards as well.

Category icon Company News, Credit Cards, Foreclosure, Holidays

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Kardashians launch new prepaid card

Nov 09, 2010 |

Credit card companies have been harnessing the power of celebrities to steer customers toward prepaid debit options, and now reality television's Kardashian sisters are entering the action.

Category icon Credit Cards

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Apple users may have more credit card debt

Nov 09, 2010 |

Consumers' cell phones may be linked to their personal spending habits, according to a new report.

Category icon Credit Cards, Financial Wellness

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Americans reduce credit debt in third quarter

Nov 09, 2010 |

Consumers continued to take steps to cut their credit card debt in the third quarter, according to a recent survey by the Federal Reserve Bank of New York.

Category icon Credit Cards, Debt Relief, Financial Wellness

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Consumer spending up, credit use down

Nov 09, 2010 |

New reports suggest that while Americans are spending more, consumers have switched their primary payment method from credit cards to cash.

Category icon Credit Cards, Financial Wellness

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Credit cards give way to layaway programs

Nov 08, 2010 |

New reports suggest that in order to decrease credit card debt, consumers are increasingly turning to layaway as a shopping option this holiday season.

Category icon Budgeting, Credit Cards, Holidays

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Minimum credit card payments may be on the rise

Nov 08, 2010 |

Consumer advocates are warning that lenders' minimum credit card payments may be on the rise, as a result of recent revenue loss by banks.

Category icon Credit Cards

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Study links credit card debt to health insurance

Nov 08, 2010 |

Medicare offers users basic medical coverage, with occasional out-of-pocket expenses for nursing and serious illnesses.

Category icon Credit Cards, Financial Wellness

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U.S. allows mislabeled holiday card sale

Nov 08, 2010 |

Consumers looking for holiday gifts have long turned to gift cards as stocking-stuffers; however, a new report suggests this year's batch may contain some misinformation.

Category icon Credit Cards, Holidays

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Lenders increase payment protection insurance

Nov 08, 2010 |

Credit card issuers are attempting to sign-up more fee-inducing programs, due to a sharp reduction in their revenues in recent months.

Category icon Consumer Rights, Financial Wellness

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Report suggests more credit card fees are expected

Nov 08, 2010 |

A year after the Credit CARD Act becomes law, a study finds Bank of America, Discover Financial and JP Morgan Chase have new tactics to boost revenue.

Category icon Credit Cards

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Credit card companies drop foreign fees

Nov 05, 2010 |

U.S. travelers have typically had to pay credit card fees as high as 1 to 3 percent on foreign transactions; however, many companies are changing their ways.

Category icon Credit Cards, Travel

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Eco-friendly credit cards get new upgrades

Nov 04, 2010 |

In 2008, the green movement was gaining steam and many companies, including credit card lenders began issuing environmentally friendly products.

Category icon Credit Cards

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Rebate credit cards may be better for travelers

Nov 04, 2010 |

Consumers could start saving money overseas by using rebate credit cards, according to a new report.

Category icon Credit Cards, Travel

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New apps available for those with credit card debts

Nov 04, 2010 |

Credit card debt relief programs have made news recently as the FTC announced restrictions on the industry's advertising practices.

Category icon Credit Cards, Debt Relief

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Foreclosure stoppages may hurt homebuyers

Nov 04, 2010 |

Americans facing increased credit card debt and the possibility of foreclosure have been praising the recent proposed moratoriums on the industry.

Category icon Financial Wellness, Homebuyers

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Credit card defaults drop, charge offs decline

Nov 03, 2010 |

Americans continued to make payments and avoided racking up credit card debt in September, according to a new lending industry report.

Category icon Credit Cards, Financial Wellness

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Credit cards offer holiday bonuses

Nov 02, 2010 |

For consumers looking to cut credit card debt and increase personal savings, lenders are making bonus offers to compete for holiday spending.

Category icon Credit Cards, Holidays

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Consolidated Credit Partners With Habitat for Humanity

Nov 02, 2010 |

Consolidated Credit is proud to team up with Habitat for Humanity in an effort to improve the community through financial education.

Category icon Company News

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More Hawaiians suffering from credit card debt

Nov 02, 2010 |

Bankruptcies filings are troubling the Aloha state, and a new report suggests growing credit card debt and foreclosures could be the main culprits.

Category icon Credit Cards, Financial Wellness

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Restaurants, retailers see moderate credit card decline

Nov 02, 2010 |

Capital Access Network released its Small Business Credit Sales Report, a quarterly report that aims to measure credit card trends within small to mid-sized business, this week.

Category icon Credit Cards, Financial Wellness

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New iPhone to function as credit card

Nov 02, 2010 |

Apple's forthcoming iPhone 5, which is due in the Spring of 2011 and will come with a built-in near communications field, could pave the way for easier credit card payments.

Category icon Credit Cards

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PCI Council sets new guidance documents for credit cards

Nov 01, 2010 |

PCI Security Standards Council released two new documents this week designed to assess the impact of emerging data security and modify existing rules.

Category icon Consumer Rights, Credit Cards

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Consumers use cash over cards for holiday sales

Nov 01, 2010 |

A new report suggests many consumers could still be tightening their belts this holiday season, especially when it comes to credit card purchases.

Category icon Financial Wellness, Holidays

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October 2010

U.S. credit cards may not be accepted abroad

Oct 29, 2010 |

Around 48 percent of U.S. adults traveled by airplane for business or leisure in 2009, many of whom traveled outside the country, U.S. Travel reports.

Category icon Credit Cards, Travel

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Credit cards linked to obesity

Oct 29, 2010 |

Nearly 34 percent of U.S. adults are obese, according to recent reports from the Center for Disease Control, and a new report finds this may be linked to credit card use.

Category icon Credit Cards, Financial Wellness

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Credit debt may cost more than consumers think

Oct 28, 2010 |

A new report suggests carrying even a little credit card debt could be costing consumers big money over time.

Category icon Credit Cards, Debt Advice, Financial Wellness

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Starbucks expands smartphone credit card app

Oct 27, 2010 |

Starbucks, the retail coffee giant, has announced plans to expand its Starbucks Card Mobile payment test to over 300 stores.

Category icon Credit Cards

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Credit cards offer increased rewards this holiday season

Oct 27, 2010 |

The current economic downturn has caused credit card companies to break with incentives traditionally offered by rewards cards.

Category icon Credit Cards, Holidays

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Personal credit cards may have advantages for small businesses

Oct 27, 2010 |

A new report suggests changes from the CARD Act may make personal credit cards a better option for small business owners carrying credit debt than traditional business cards.

Category icon Credit Cards

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Debit passes credit cards as preferred payment method

Oct 26, 2010 |

This holiday season, consumers will spend spend an average of $715 on gifts, according to a recent Gallup poll.

Category icon Credit Cards

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Federal Reserve release new credit report

Oct 26, 2010 |

The Federal Reserve issued a new report about lending and credit for U.S. consumers. Learn more about the findings of this new Fed report on the credit industry.

Category icon Credit Cards

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Credit card issuers spend big on campuses

Oct 26, 2010 |

The Federal Reserve Board released a report this week that identified over 1,000 agreements between credit card issuers and colleges, alumni association and other related entities.

Category icon Credit Cards, Young Consumers

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Elderly bankruptcies erase credit debt, make retirement uncertain

Oct 25, 2010 |

More seniors are filing for bankruptcy protection, with rising credit card debt accounting for the majority of cases.

Category icon Bankruptcy, Retirement, Seniors

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Debit card usage rises as consumers avoid credit card debt

Oct 25, 2010 |

In recent years, the debit card has replaced the credit card as the preferred plastic payment option.

Category icon Credit Cards, Debt Relief, Financial Wellness

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Saving money may tackle credit card debt

Oct 25, 2010 |

Credit card debt can be induced by any number of financial follies, from missed payments to defaulted loans.

Category icon Credit Cards, Saving

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Old company credit cards could help credit rating

Oct 25, 2010 |

Most stores offer company credit cards, advertising discounts and special deals that can be enticing to consumers.

Category icon Credit Cards, Credit Score

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Credit cards at the pump may not be best for budgets.

Oct 22, 2010 |

A new report suggests consumers who choose credit cards at the pump can help their monthly budgeting by choosing paper over plastic.

Category icon Budgeting, Credit Cards

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Next generation credit cards could help money management

Oct 22, 2010 |

The next generation of credit cards are about to hit the market, and they could help consumers improve their money management.

Category icon Credit Cards, Financial Wellness

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President warns of repeal to CARD Act

Oct 22, 2010 |

President Barack Obama wrapped up his longest campaign tour since his inauguration, completing a four-day trip through the northwest.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Credit divide growing over employment

Oct 22, 2010 |

A new report suggests there may be more to securing a new credit card than good credit management.

Category icon Credit Cards, Employment

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Credit companies issue more new credit cards

Oct 21, 2010 |

Americans have been saving money, and credit companies are taking note.

Category icon Credit Cards

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Consumer satisfaction with credit card companies rises

Oct 20, 2010 |

Despite the large number Americans struggling with credit card debt, a new report suggests consumer dissatisfaction among credit card users decreased this year.

Category icon Credit Cards

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Federal Reserve goes after “fee harvesters”

Oct 20, 2010 |

The government's new credit card legislation was designed to help Americans with their credit management.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Keeping credit card reward points

Oct 20, 2010 |

For some consumers, collecting credit card rewards, such as cash back, airline miles, clothing and gift certificates, is an added incentive to choose plastic over paper at the checkout.

Category icon Consumer Rights, Credit Cards, Credit Score, Financial Wellness

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Verizon contemplates new credit card fee

Oct 19, 2010 |

Credit card fees have recently become the subject of much debate in Washington, D.C., with new legislation on the horizon to help Americans get out of debt being hotly debated.

Category icon Credit Cards, Debt Relief

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Federal Reserve proposes changes to credit card laws

Oct 19, 2010 |

Federal regulators are looking to add additional protections to recently passed credit card legislation.

Category icon Consumer Rights, Credit Cards

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Credit debt lessens in September

Oct 19, 2010 |

Citibank said this week its total number of charge offs, credit card debt issuers do not think is collectible, declined this month.

Category icon Credit Cards, Debt Relief

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Consumers prefer biometric Credit Card verification

Oct 18, 2010 |

A new poll suggests consumers may trust fingerprint biometrics over photo identification, PIN numbers and handwritten signatures when it comes to making credit card purchases.

Category icon Credit Cards

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Older cards offer tried and true protection

Oct 18, 2010 |

A recent report suggests old-fashioned magnetic strip credit cards may offer key advantages over smartcard technology.

Category icon Credit Cards

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Debt consolidation gives consumers financial options

Oct 18, 2010 |

Chapter 7 used to be an easy and advantageous way to eliminate credit debt.

Category icon Bankruptcy, Debt Relief, Student Debt, Young Consumers

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Credit card defaults rise in September

Oct 15, 2010 |

Capital One Financial Corp, the third-largest U.S. issuer of visa cards, released a new report that suggests a growing number of Americans are suffering from credit card debt.

Category icon Consumer Rights, Credit Cards, Debt Advice

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Credit security landscape changing

Oct 15, 2010 |

A new report suggests the minimum standards for securing payment methods and averting data breaches for debit and credit cards may be changing.

Category icon Consumer Rights, Credit Cards

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JPMorgan revenues fall on credit decline

Oct 14, 2010 |

JPMorgan, one of the nation's largest investment banks, announced this week its third-quarter profits exceeded analysts' estimates. Despite this gain, revenues slumped 11 percent.

Category icon Banking, Credit Cards

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Debt Collectors Using Social Media to Collect Money

Oct 14, 2010 |

Debt collectors are using social media to collect money. Consolidated Credit Counseling Services offers tips for social media safety.

Category icon Consumer Rights, Debt Advice

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New restrictions protect those with credit debt

Oct 14, 2010 |

The explosion of credit use in recent years has left many debt-riddled consumers to turn to relief agencies for assistance.

Category icon Credit Cards, Debt Advice, Debt Relief

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Prepaid cards may not help budgeting

Oct 14, 2010 |

Consumers looking to avoid costly bank fees with over-the-counter prepaid cards, may find these could do more harm to their budgeting than they realize.

Category icon Budgeting, Credit Cards

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Credit debt blamed for rise in elderly bankruptcy

Oct 13, 2010 |

A new report links the rise in bankruptcy among the nation's elderly population to credit card usage.

Category icon Bankruptcy, Seniors

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Federal Reserve sued over card fees

Oct 13, 2010 |

TCF Finacial Corp., recently sued the Federal Reserve in an effort to block new legislation that restricts fees charged to retailers on debit and credit card transactions.

Category icon Credit Cards

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College students facing new debt threats

Oct 12, 2010 |

Recent provisions of the CARD Act prohibit students under 21 from obtaining a credit card without a co-signer, leading many to turn to debit-cards as a convenient alternative.

Category icon Student Debt, Young Consumers

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Costly credit card loopholes remain

Oct 12, 2010 |

The recently signed CARD Act may have done much to ensure consumer protection from the credit card industry, doing away with late fees and other unpopular practices.

Category icon Credit Cards

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Interchange fee legislation could lead to savings

Oct 11, 2010 |

When consumers think of important credit card fees, they generally think interest rates, annual fees and penalties.

Category icon Credit Cards

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Credit card parking meters get test trial

Oct 11, 2010 |

In Cambridge, Massachusetts, next generation parking meters are getting a test trial.

Category icon Credit Cards

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Consumers cut credit card borrowing

Oct 08, 2010 |

A new report shows Americans are choosing to keep better track of their personal finances.

Category icon Credit Cards, Financial Wellness

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Bill aimed at reducing foreclosure killed

Oct 08, 2010 |

A proposed bill that aimed at making it more difficult for mortgage lenders to evict homeowners with debt problems received a blow this afternoon.

Category icon Foreclosure, Housing

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Credit card benefits that save money

Oct 07, 2010 |

Most credit card companies advertise low interest rates, special rewards, and modest fees when trying to make their way into your wallet.

Category icon Credit Cards

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Growing number puzzled by credit score

Oct 06, 2010 |

A new poll shows that average American may lack even a basic understanding of the important financial number.

Category icon Credit Score, Financial Wellness

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Univision gets much needed debt help

Oct 05, 2010 |

Mexican media conglomerate Grupo Televisa attempted to gain a stake in its top U.S. Spanish-language rival, Univision, offering debt help to the struggling company.

Category icon Debt Relief

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“Redemption” coming for credit card users

Oct 05, 2010 |

A new type of smart credit card that may help ease your monthly budgeting is currently undergoing trials with Citi Bank, and is set to expand next month, Wired.com reports.

Category icon Budgeting, Credit Cards

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Visa, MasterCard nearing antitrust probe settlement

Oct 04, 2010 |

New legislation has put restrictions on credit card issuers. Finding other means of profit may get harder for companies in the near future.

Category icon Credit Cards

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More issuers offering purchase protection programs

Oct 01, 2010 |

You might think there’s no recourse if a recent purchase is lost or stolen, but some credit cards carry built-in protection for these unexpected events.

Category icon Credit Cards

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Credit card issuers moving further into the e-commerce market

Oct 01, 2010 |

Credit card issuers race to create more e-commerce offerings through retail sites to compete better, hoping to increase their market share.

Category icon Credit Cards

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American Express expanding efforts to go green

Oct 01, 2010 |

American Express has made headlines recently for its excellence in customer service, and now it is making news once again with its efforts to go green.

Category icon Credit Cards

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September 2010

Moody’s reports rise in charge-off rate

Sep 29, 2010 |

The charge-off rate for credit cards rose 58 base points in August, showing Americans are still finding difficulty handling their credit card debt.

Category icon Credit Cards, Debt Advice

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Household debt down, but many Americans still defaulting

Sep 29, 2010 |

Although there has been an increase in positive consumer news over the past few months, much of it is still hiding negative statistics.

Category icon Credit Cards, Debt Relief, Financial Wellness

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Experts warn consumers of the fees that come with prepaid cards

Sep 28, 2010 |

Consumers have been wary of credit cards since the start of the economic downturn, but hidden fees may cause problems when switching to prepaid credit.

Category icon Credit Cards

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More consumers overlooking credit score factors

Sep 28, 2010 |

Credit card users find that in spite of paying bills on time, they still don’t have the credit score they want, but they may be overlooking key factors.

Category icon Credit Cards, Credit Score

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Trick or Treat Spending on the Rise, How to Have A Boo-tiful Halloween

Sep 28, 2010 |

Halloween is now the second most expensive holiday, but most people overlook it when it comes to budgeting, planning ahead and credit card debt.

Category icon Budgeting, Family, Holidays

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Akamai cloud debuts, promises more consumer security

Sep 27, 2010 |

Akamai Technologies released new cloud technology it expects to have a big impact on both credit card users and merchants. Will it impact consumers?

Category icon Consumer Rights, Credit Cards

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Massachusetts launches Project Credit Smarts for college students

Sep 27, 2010 |

The Department of Education is pushing for more financial literacy in classrooms. Colleges respond with programs designed to build fiscal responsibility.

Category icon Financial Wellness, Student Debt, Young Consumers

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Bank of America to institute new fees for more profit

Sep 21, 2010 |

New legislation restricts credit card issuers from raising fees and penalties, cutting their revenue, but banks find ways of maintaining a steady profit.

Category icon Banking, Consumer Rights, Credit Cards

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Consumers encouraged to look into debt assistance options

Sep 21, 2010 |

Americans still have $825 billion in credit card debt as they recover from the recession. Families focus on paying down debt and rebuilding savings.

Category icon Debt Advice, Debt Relief

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Discover plans to expand beyond credit cards in near future

Sep 21, 2010 |

Regulations have creditors scrambling for new means of profit; Discover Financial Services is the latest to announce plans in providing other services.

Category icon Banking, Credit Cards, Homebuyers

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More issuers raising rates on responsible cardholders

Sep 20, 2010 |

Industry analysts are beginning to find that while the Credit CARD Act gave more protection to consumers, there is backlash with rising interest rates.

Category icon Consumer Rights, Credit Cards

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Discover reports higher profit than predicted by analysts

Sep 20, 2010 |

Discover announced profits of $261 million in the 3rd quarter of 2010, surpassing most expectations and 3 of its largest rivals by as much as 5.1%.

Category icon Credit Cards

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Warren named special advisor of Consumer Financial Protection Bureau

Sep 20, 2010 |

Barack Obama appoints Elizabeth Warren to advise the new Consumer Financial Protection Bureau – an organization she’s largely credited with envisioning.

Category icon Consumer Rights, Credit Cards

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More telemarketers pushing credit card scams on consumers

Sep 17, 2010 |

As Americans look to lower for lower credit cards interest rates and less fees, scam artists are capitalizing with scams targeted to better credit deals.

Category icon Consumer Rights, Credit Cards

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MasterCard expects to see profit grow by the end of the year

Sep 17, 2010 |

MasterCardannounced this week it expects to see a 20 percent growth in profit by the end of 2010 – money they intend to invest in mobile payment systems.

Category icon Credit Cards

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Card 2.0 gives consumers more credit options at check-out

Sep 17, 2010 |

Dynamics, Inc. debuted a new device at the DEMO Conference called Card 2.0 that may revolutionize the way consumers use credit cards.

Category icon Credit Cards

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JP Morgan CEO expresses discontent over new credit card regulations

Sep 16, 2010 |

The Credit CARD Act that was signed into law in 2009 went into effect August 22, providing consumers with clearer credit card terms and conditions.

Category icon Consumer Rights, Credit Cards

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More credit card issuers planning to establish minimum payments

Sep 16, 2010 |

Using credit can be a hassle with minimum purchase limits, but merchants may violate their contracts by using one if the creditor doesn’t require it.

Category icon Credit Cards

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American Express reports flat write-off rate for August

Sep 16, 2010 |

American Express reported this week that its number of credit card account write-offs remained flat in August, so are affluent consumers still struggling?

Category icon Credit Cards

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Consumers susceptible to credit card loopholes under CARD Act

Sep 16, 2010 |

The Credit CARD Act has pushed issuers to look for new means of revenue as the law limits them from spiking interest rates and fees in the name of profit.

Category icon Credit Cards, Debt Advice, Financial Wellness

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Consumers advised to consider all factors before applying for credit

Sep 14, 2010 |

Restrictions from the Credit CARD Act have put more pressure on issuers trying to get new customers. As a result, mail offers are up 55 percent this year.

Category icon Credit Cards, Financial Wellness

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Fewer consumers suffering from negative credit card changes

Sep 14, 2010 |

The Consumer Reports index for September shows that while consumers have an easier time paying for their expenses, the economy is still recovering slowly.

Category icon Credit Cards, Financial Wellness

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Mail offers may mean more credit card debt for consumers

Sep 14, 2010 |

Banks sent out more than one billion credit card offers in the first half of 2010, targeting consumers with good credit. Are we ready to borrow again?

Category icon Credit Cards

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Consumers looking toward new credit advised to remain cautious

Sep 13, 2010 |

Since the downturn, Americans have been wary to borrow, but with the Credit CARD Act they’re gaining confidence. Is there still reason to be cautious?

Category icon Credit Cards, Credit Score, Debt Advice

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Financial lessons for children may pay off in the future

Sep 13, 2010 |

As Americans struggle to pay down debt, the U.S. Department of Education is taking proactive measures to instill better financial habits in children.

Category icon Family, Financial Wellness, Young Consumers

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Paying down credit card debt crucial to maintaining FICO scores

Sep 13, 2010 |

Over the past two years, the number of people with FICO scores at or below 600 has risen to 25.5 percent. Is America facing a credit score crisis?

Category icon Credit Cards, Credit Score, Debt Advice

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Study revised to show more accurate credit card debt stats

Sep 10, 2010 |

The Federal Reserve Bank of Boston released a study that shows the more wealthy consumers use credit cards, the more low-income shoppers suffer.

Category icon Credit Cards, Financial Wellness

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Credit card debt making it difficult for consumers to borrow

Sep 10, 2010 |

Americans have faced difficulty borrowing due to high volumes of credit card debt. Are your outstanding balances preventing you from getting new credit?

Category icon Credit Cards, Debt Advice

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MasterCard launches MoneySend app on BlackBerry network

Sep 10, 2010 |

A number of mobile service providers are launching credit card integration for smartphones in August, including one of the country’s biggest issuers.

Category icon Credit Cards

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Bank risk professionals expect delinquency rates to rise

Sep 09, 2010 |

A new FICO study finds 73 percent of bank risk professionals expect the number of borrowers to either rise or remain steady in the next six months.

Category icon Banking, Financial Wellness

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Consumers favor debit to stay away from credit card debt

Sep 09, 2010 |

Last year was the first time debit card usage surpassed credit usage for U.S. consumers. Does this mean that our love affair with credit is over for good?

Category icon Credit Cards, Debt Relief, Financial Wellness

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American Express changes late payment policy

Sep 09, 2010 |

American Express, recently deemed the most popular logo among consumers, has changed its late payment policy after receiving criticism from members and industry analysts alike.

Category icon Credit Cards

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Financial responsibility crucial to consumers staying out of debt

Sep 08, 2010 |

New legislation, has given Americans reason to regain trust in the credit card industry, but it hasn’t eliminated the need to borrow responsibly.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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SUNY complies with Cuomo’s code to steer students away from credit

Sep 08, 2010 |

New York Attorney General demands colleges reveal existing agreements with credit card issuers in order to protect students from unlawful solicitation.

Category icon Consumer Rights, Credit Cards, Family, Financial Wellness, Student Debt, Young Consumers

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Garnishments increase due to poor economy

Sep 08, 2010 |

Consumers are finding that old debts can not only hurt your credit score, but bank accounts as well. So when can garnishment be used by debt collectors?

Category icon Consumer Rights, Credit Cards, Credit Score

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More companies requiring employees to pay for corporate cards

Sep 07, 2010 |

In 2009, Americans charged $140 billion to corporate credit cards, but this year analysts warn to rein in spending or consumers may find themselves stuck.

Category icon Consumer Rights, Credit Cards

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Affinity agreements still causing credit card debt for students

Sep 07, 2010 |

Why are universities continuing to make affinity agreements with credit card issuers even though the practice has be banned by the Credit CARD Act?

Category icon Consumer Rights, Credit Cards, Family, Financial Wellness, Student Debt, Young Consumers

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CARD Act aids young adults, but doesn’t protect them from debt

Sep 07, 2010 |

The Credit CARD Act prohibits anyone under 21 from applying for credit without a co-signer or means to repay the debt, but you can still get into trouble.

Category icon Credit Cards, Family, Financial Wellness, Student Debt, Young Consumers

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Cuomo attempting to rid credit card issuers from campuses

Sep 03, 2010 |

State Attorney General Andrew Cuomo wrote letters to colleges in New York, requesting they submit information on contracts with credit card issuers.

Category icon Credit Cards, Family, Financial Wellness, Student Debt, Young Consumers

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Business credit card interest rates up 16 percent

Sep 03, 2010 |

According to a new study business credit card owners are suffering from interest rates at 30 percent or higher because the Credit CARD Act.

Category icon Credit Cards, Financial Wellness

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Credit card delinquencies fell further in July

Sep 02, 2010 |

Fitch Ratings released new statistics this week that show credit card defaults have dipped to 9.65 percent, the lowest rate in 16 months.

Category icon Credit Cards, Financial Wellness

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More consumers falling into business credit card debt traps

Sep 02, 2010 |

Senator Charles Schumer made headlines this week when he asked the Federal Reserve to offer more protection for consumers against business card issuers.

Category icon Credit Cards, Financial Wellness

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NFL, Barclaycard announce rewards program for credit card users

Sep 02, 2010 |

The National Football League and Barclaycard announced a new partnership and plans to unveil a rewards credit card called NFL Extra Points for fans.

Category icon Credit Cards

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Inner Fence now shipping credit card readers for the iPhone

Sep 01, 2010 |

Leading mobile service providers, including Verizon and T-Mobile, announced plans to integrate credit card data with smartphones in August.

Category icon Credit Cards, Financial Wellness

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CARD Act may slow economic growth

Sep 01, 2010 |

The Credit CARD Act went into effect August 22, but are critics right in forecasting that this new legislation will slow economic growth?

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Floridians struggle more with credit card debt than other states

Sep 01, 2010 |

An AP report shows the national credit card delinquency rate has dropped to its lowest level in 8 years, but not all states are doing so well.

Category icon Credit Cards, Financial Wellness

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August 2010

Credit card issuers discreetly raising fees on consumers

Aug 30, 2010 |

The Credit CARD Act has given Americans protection against credit card issuers, but it has left the industry scrambling for profit. Have we gone too far?

Category icon Consumer Rights, Credit Cards, Financial Wellness

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How to Get Through College with Less Student Debt

Aug 30, 2010 |

Colleges graduates are drowning in student debt. Consolidated Credit advises college students how to avoid getting deep into debt.

Category icon Family, Financial Wellness, Student Debt, Young Consumers

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Frequent flier mile cards remain popular among consumers

Aug 30, 2010 |

While the Credit CARD Act has made it harder for issuers to generate revenue, frequent flier mile rewards credit cards are still producing big profits.

Category icon Credit Cards

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Consumer spending increases, savings rate drops in July

Aug 30, 2010 |

Americans steered away from credit and focused on saving in the first half of the year, but new reports show consumer the trend switched in July.

Category icon Financial Wellness

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CARD Act ban praised by parents of young adults

Aug 30, 2010 |

The Credit Card Accountability, Responsibility and Disclosure Act is being praised by parents of young adults for preventing offers targeted to students.

Category icon Credit Cards, Family, Young Consumers

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Despite CARD Act, consumers must take steps to avoid credit debt

Aug 27, 2010 |

The Credit Card Accountability, Responsibility and Disclosure Act may help protect consumers, but it still up to the borrower to prevent credit card debt.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Visa spent $1.53 million to lobby against new legislation

Aug 26, 2010 |

Visa was clearly worried that new legislation and the creation of the CFPB would impact profits, so they spent $1.53M to lobby against the changes.

Category icon Consumer Rights, Credit Cards

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NerdWallet offers filter for comparing over 400 credit cards

Aug 26, 2010 |

As a consumer credit advocate, NerdWallet hopes to restore confidence in credit by releasing a new engine to compare over 400 non-sponsored credit cards.

Category icon Credit Cards, Financial Wellness

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U.S. credit card delinquency rate falls below 5 percent

Aug 26, 2010 |

Moody's reports credit card delinquencies dropped again to 4.93 percent in July – it is the first time we’ve dropped below 5 percent in 20 months.

Category icon Credit Cards, Financial Wellness

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Parents, industry analysts favor CARD Act limitations on teens

Aug 25, 2010 |

Parents trying to teach teens about financial responsibility and industry analyst praise the Credit CARD Act for putting limitations offers to teens.

Category icon Credit Cards, Family, Student Debt

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Generation Y in credit card debt, but optimistic

Aug 25, 2010 |

A new study by MetLife found that Gen Y has more debt than other generations, but they're still optimistic about their debts and financial outlooks.

Category icon Credit Score, Financial Wellness

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President Obama praises CARD Act

Aug 25, 2010 |

President Obama praises the Credit Card Accountability, Responsibility and Disclosure Act after it went into effect for the new protections it provides.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Verizon is first to pass PCI test, promises to keep consumer data safe

Aug 24, 2010 |

Verizon announces it passed the initial Payment Card Industry Data Security Standard test for storing, processing and transferring card information.

Category icon Credit Cards, Financial Wellness

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Mobile service providers may miss out when paying credit card issuers

Aug 24, 2010 |

Mobile service providers announced they would begin integrating smartphones with credit card data to make shopping easier, but will this provide profits?

Category icon Credit Cards, Financial Wellness

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ITunes customers still at risk of fraudulent credit card debt

Aug 24, 2010 |

On the heels of a data breach in 2009, are iTunes customers actually safe? PC World reports Apple has made few strides in protecting consumers from fraud.

Category icon Credit Cards, Debt Advice, Financial Wellness

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Mileage programs not worth it for travelers looking to avoid debt

Aug 23, 2010 |

Bonuses and frequent flier miles make travel rewards credit cards seem really attractive, but not all cards are worth it when avoiding credit card debt.

Category icon Credit Cards, Travel

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Visa and Bank of America introduce new smartphone chip

Aug 23, 2010 |

Bank of America and Visa have announced a new partnership to make shopping easier for consumers with a new smartphone payment chip.

Category icon Credit Cards, Financial Wellness

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New meters making parking easier for credit and debit card users

Aug 23, 2010 |

The parking situation in Los Angeles just got a little easier with the introduction of new parking meters that accept debit and credit card payments.

Category icon Credit Cards

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Consumers use mobile devices for shopping, financial management

Aug 20, 2010 |

Research finds 15 percent of consumers have used mobile devices for shopping, including to check inventory and verify balances before a purchase.

Category icon Financial Wellness

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Merchants awarding cash-paying customers with discounts

Aug 20, 2010 |

As credit card issuers charge higher swipe fees to offset profit loss from the Credit CARD Act, merchants start to offer discounts for paying in cash.

Category icon Credit Cards, Debt Advice, Financial Wellness

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Issuers report delinquency rate drop as consumers reduce debt

Aug 20, 2010 |

As Americans work on paying off credit card debt and rebuilding savings, issuers report a drop in delinquency rates again for the month of July.

Category icon Debt Relief, Financial Wellness

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Consumers lean toward private labels to improve credit scores

Aug 19, 2010 |

As Americans remain wary of major issuers, they have shown a preference in private labels for credit, but experts warn in-store credit cards are worse.

Category icon Credit Cards, Credit Score

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Consumers more satisfied with their credit cards

Aug 19, 2010 |

A new study has found that, for the first time in three years, consumers are more satisfied with the companies they use to compile credit card debt than they were the year before.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Prepaid credit cards not included in new gift card rules

Aug 19, 2010 |

Starting on Sunday, the parts of the Credit Card Accountability, Responsibility and Disclosure Act that pertain to gift cards will be enacted.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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FTC offers phone number to consumers to stop card ads

Aug 19, 2010 |

The Credit CARD Act is geared toward providing more protection for consumers, but as many have discovered, it doesn’t prevent tempting advertisements.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Loopholes still exist in CARD Act

Aug 19, 2010 |

The Credit Card Accountability, Responsibility and Disclosure Act aims to provide more consumer protection, but they won’t be completely invulnerable.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Consumer spending expected to drop as Americans focus on debt

Aug 18, 2010 |

Quarterly profit increases for Home Depot and Abercrombie & Fitch had analysts predicting increased consumer spending, but will the trend continue?

Category icon Credit Cards, Debt Relief

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New federal laws don’t apply to business credit cards

Aug 18, 2010 |

While consumers across the country will soon benefit from the rules of Credit CARD Act, the same cannot be said of those that use business credit cards.

Category icon Consumer Rights, Credit Cards

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Covington to do away with swipe fees, spare residents from debt

Aug 18, 2010 |

Consumers pay a convenience fee as a surcharge for using credit at retailers, but residents of Covington, Georgia, may be free from paying this fee soon.

Category icon Consumer Rights, Credit Cards, Debt Relief

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Swipely opens its doors to the public

Aug 18, 2010 |

The purchase-sharing company, Swipely (previously invitation-only) announces it will now be open to the public and feature a new virtual badge system.

Category icon Credit Cards

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Credit card debt pushes retail gains

Aug 18, 2010 |

Even while consumers spent less overall at retail stores last quarter, they continued to use their credit cards to make purchases more often than with cash.

Category icon Credit Cards, Employment

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Minnesota to begin accepting credit card payments for court fines

Aug 18, 2010 |

Consumers who have picked up fines from the Minnesota court system now have the option of taking on credit card debt to pay it off.

Category icon Credit Cards

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Americans closed accounts as they paid off credit card debt

Aug 17, 2010 |

Consumers have proven in recent months to be more capable of paying off their credit card debt, but now when they do, it seems they are also closing their accounts.

Category icon Credit Cards, Debt Relief, Financial Wellness

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New card can help consumers manage credit card debt

Aug 17, 2010 |

As Americans reaming cautious, one lender teams up with the world's second-largest credit network to offer a new card to help consumers manage debt.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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PayPal looks to move into credit cards’ real-world territory

Aug 17, 2010 |

No longer content with simply being one of the most popular online payment methods in the world, PayPal has plan to build profits in the real world, too.

Category icon Credit Cards

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Credit card debt-laden consumers find alternate ways to pay

Aug 17, 2010 |

FICO releases estimates showing more consumers have been forced to find ways to pay without using credit cards as nearly 30 million have bad credit.

Category icon Credit Cards, Debt Relief

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Consumers already in credit card debt steer clear of borrowing

Aug 17, 2010 |

For the first time since the 2008 recession, banks and credit card issuers are relaxing borrowing standard restrictions in order to bring in new business.

Category icon Consumer Rights, Debt Relief, Financial Wellness

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Co-signing can teach responsibility to avoid future debt problems

Aug 17, 2010 |

While Credit CARD Act prevents youth under 21 from applying for credit alone, parents may want to cosign to help teach teens to use credit responsibly.

Category icon Consumer Rights, Credit Cards, Family, Financial Wellness, Young Consumers

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Capital One reports drop in credit card delinquency rate

Aug 16, 2010 |

Leading credit card issuer Capital One reports an 8.13 percent decline in charge offs in July – the fourth straight month the company has seen a decrease.

Category icon Credit Cards, Debt Relief

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Some restaurants stop taking credit cards to avoid interchange fees

Aug 16, 2010 |

To help avoid the fees credit card companies charge every time a business processes a transaction, many restaurants in New York are now fighting back.

Category icon Credit Cards

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Consumers gaining ground on credit card debt worry issuers

Aug 16, 2010 |

Charge-off rates have been in steady decline over the past few months as the economy struggles to recover. Have Americans finally learned to manage debt?

Category icon Credit Cards, Debt Relief

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Mississippi drivers can take on credit card debt when renewing license

Aug 16, 2010 |

Consumers in Mississippi may have an easier time at the DMV as long as they’re willing to take on a credit card debt, thanks to license renewal kiosks.

Category icon Credit Cards

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Consumers cut deeper into their credit card debt in July

Aug 16, 2010 |

Given the reports from major credit card lenders in the last few months, it seems Americans are more and more frequently putting their money toward paying down their credit card debt.

Category icon Credit Cards, Debt Relief

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As consumers reduce credit card debt, investors prefer MasterCard

Aug 16, 2010 |

New legislation makes it tough for all major credit card issuers to prove their worth with profit gains, but investors show a preference for MasterCard.

Category icon Consumer Rights, Credit Cards

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Kohls’ profit drops after disclosure of terms that may cause debt

Aug 13, 2010 |

Kohls' Inc. fails to meet market expectations when its profits dip due to new legislation that requires retailers to reveal terms about in-store credit.

Category icon Consumer Rights, Credit Cards

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Consumers will take on credit card debt to cover overdrafts

Aug 13, 2010 |

A federal law that requires banks to ask their customers to opt into overdraft protection programs takes effect on August 15, and many consumers have already decided to enroll.

Category icon Banking, Consumer Rights

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Kansas City residents show debt load, credit score improvement

Aug 13, 2010 |

A new report finds Kansas City residents’ credit scores are up to an average of 679, meaning consumers may have a better grasp on their credit card debt.

Category icon Credit Score, Debt Advice, Debt Relief

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Bill that would bar debit card fees awaits governor’s signature

Aug 13, 2010 |

A bill that would change the way businesses charge debit card fees, which recently passed the California Legislature, is now awaiting the signature of Governor Arnold Schwarzenegger.

Category icon Consumer Rights

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More consumers opting for PayPal over credit card debt

Aug 13, 2010 |

When it comes to online shopping, more consumers are opting to use payment system PayPal to make purchases rather than take on credit card debt.

Category icon Credit Cards, Debt Relief

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Consumer credit card debt up 14 percent from last July

Aug 13, 2010 |

Despite a 1 percent drop in June, consumer credit card debt is up nearly 14 percent from July 2009. The average American has $7,752 in credit card debt.

Category icon Credit Cards, Debt Advice

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Revised credit card security standards coming soon

Aug 12, 2010 |

The way in which credit networks store and protect information related to customers and their credit card debt will soon get a slight overhaul.

Category icon Consumer Rights, Credit Cards

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Consumers advised to read over all terms of rewards programs

Aug 12, 2010 |

Consumers may see rewards programs as a reason to sign up for credit cards, but as the Huffington Post reports, their value may decrease over time.

Category icon Consumer Rights, Credit Cards

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County libraries accept credit cards for late fees

Aug 12, 2010 |

Residents of one California county with overdue library books and videos will soon be able to take on credit card debt to pay their fines.

Category icon Consumer Rights, Credit Cards

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Overdraft programs may allow banks to retain revenue from fees

Aug 12, 2010 |

Starting August 15, bank account overdraft fees could become a thing of the past. New regulations give customers a choice to opt-in to overdraft programs.

Category icon Banking, Consumer Rights

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New Jersey adds new restrictions on student credit cards

Aug 11, 2010 |

As millions of young adults across the country head off to college or move out on their own for the first time, it's to fall victim to credit card debt.

Category icon Credit Cards, Debt Advice, Debt Relief

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Consumers in credit card debt need to use plastic to rebuild scores

Aug 11, 2010 |

Although consumers have turned away from credit in the wake of the recession to avoid debt, this may lead to different problem of lower credit scores.

Category icon Credit Cards, Credit Score, Financial Wellness

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Citi is nation’s biggest corporate credit card issuer

Aug 11, 2010 |

When it comes to businesses, more across the U.S. use Citi to manage their credit card debt than any other issuer.

Category icon Credit Cards

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Both criminals and consumers in credit card debt rely on prepaid cards

Aug 11, 2010 |

Prepaid cards are not only the latest fad for consumers who want to avoid signing up for bank accounts, but for criminals as well to launder drug money.

Category icon Credit Cards, Credit Score, Debt Advice, Debt Relief

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Minimum credit card payments may become more prominent

Aug 10, 2010 |

As more merchants continue to add minimum payment limits to purchase made on credit cards, consumers may have to adjust their shopping habits.

Category icon Consumer Rights, Credit Cards

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Age is a factor when eliminating credit card debt

Aug 10, 2010 |

When it comes to paying off credit card debt by a balance transfer, it matters how old a consumer is.

Category icon Credit Cards, Debt Advice, Financial Wellness

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Colleges ban advertisements to prevent student credit card debt

Aug 10, 2010 |

Under new credit card legislation, issuers will be prohibited from enticing young adults with freebies and aggressive on-campus marketing tactics.

Category icon Credit Cards, Financial Wellness, Young Consumers

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Generation Y suffers the most financially from loans, credit card debt

Aug 10, 2010 |

The latest survey from Western Union finds Generation Y consumers are struggling the most with their finances, such as student loans and credit card debt.

Category icon Credit Cards, Financial Wellness, Young Consumers

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Creditors still not entirely honest with terms and conditions

Aug 10, 2010 |

While new legislation has brought more restrictions, the AP reports that not all credit card companies are being honest, including major issuers.

Category icon Consumer Rights, Credit Cards

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Single moms with credit debt have difficulty filing bankruptcy

Aug 09, 2010 |

While new regulations and the creation of the CFPB aim at protecting consumers, some believe not enough was done, such as revising the BAPCPA law of 2005.

Category icon Bankruptcy, Credit Cards, Debt Advice, Family, For Women

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Fed statistics show student loan has surpassed credit card debt

Aug 09, 2010 |

The latest figures from the Federal Reserve show student loan debt has officially surpassed credit card debt as the second leading debt source in the U.S.

Category icon Credit Cards, Debt Advice, Student Debt, Young Consumers

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Subpoenas issued over questionable credit card practices

Aug 09, 2010 |

As Congress cracks down on harmful practices from lenders that would increase consumers' credit card debt, so too is the state of New York.

Category icon Consumer Rights, Credit Cards

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Consumers using fewer cards, paying off more credit card debt

Aug 09, 2010 |

In the last three years, consumers have found they can reduce their credit card debt by opening fewer new accounts, and have effectively aimed to do so.

Category icon Credit Cards, Credit Score, Debt Relief

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Many bank fees, including those for credit card debt, still linger

Aug 09, 2010 |

The Credit Card Accountability, Responsibility and Disclosure Act was designed to eliminate fees that would lead to consumers compile more debt, but banks have still found a way around it.

Category icon Banking, Consumer Rights, Credit Cards, Financial Wellness

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Credit debt decreases $1.3B in June as Americans eliminate debt

Aug 09, 2010 |

Consumer credit dropped $1.3 billion in the month of June on the heels of a $5.3 billion dip in May. Are Americans finally in control of credit card debt?

Category icon Credit Cards, Credit Score, Debt Relief, Financial Wellness

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Intermediary online purchase services may prevent data theft

Aug 06, 2010 |

Using an intermediary payment service like PayPal or Google Checkout may help consumers avoid problems with identity theft as they shop online.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Software allows businesses to process mobile credit card payments

Aug 06, 2010 |

Thanks to the many advancements that have been made in mobile phone technology in recent years, a new program will allow small businesses to accept credit card payments anytime from anywhere.

Category icon Credit Cards

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More consumers choosing bankruptcy to relieve credit card debt

Aug 06, 2010 |

More Americans opted to file for bankruptcy in July in an effort to escape the burden of crushing credit card debt, but what does it mean for our credit?

Category icon Bankruptcy, Credit Cards, Debt Relief

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Consumers advised to read correspondence to prevent credit card debt

Aug 06, 2010 |

While regulations under Dodd-Frank new put restrictions on credit card issuers, there may still be one loophole in how creditors update their terms.

Category icon Credit Cards, Credit Score, Debt Advice, Financial Wellness

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Paying off debt, increasing lines of credit can improve scores

Aug 06, 2010 |

U.S. News & World Report says advertising that promises credit score revitalization may be misleading. When it comes to credit, there’s no quick fix.

Category icon Credit Cards, Credit Score, Debt Advice, Financial Wellness

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Expansion of municipal services could allow for credit card payments

Aug 06, 2010 |

Cities across the country are expanding and enhancing municipal programs to allow payments on everyday services to be made with a credit card.

Category icon Credit Cards

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California Legislature introduces bill to further rein in swipe fees

Aug 05, 2010 |

While previous federal laws gave the government control over what credit card companies could charge merchants for swipe fees, a new law in California could take it one step further.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Pennsylvania residents to take on debt in order to pay taxes

Aug 05, 2010 |

Though the number of people currently doing it is relatively small, more in Pennsylvania are taking on credit card debt to pay their local taxes, even though they are charged a fee to do it.

Category icon Credit Cards

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Credit card rates remain level for the sixth consecutive week

Aug 05, 2010 |

If you’ve applied for new credit over the past few weeks, you may have noticed that interest rates haven’t changed in 6 weeks. Why isn’t APR fluctuating?

Category icon Credit Cards, Financial Wellness

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Prepaid cards build good credit habits, prevent future debt

Aug 05, 2010 |

Bank Freedom announces a new partnership with MoneyGram that provides prepaid debit card users with more opportunity to load their cards in more places.

Category icon Credit Cards, Debt Advice

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Credit card data on smartphones might not get rid of plastic for good

Aug 05, 2010 |

Mobile providers have plans to integrate credit card information into smartphones, but can new technology really make us say goodbye to plastic for good?

Category icon Credit Cards

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Consumers urged to protect personal data while traveling

Aug 04, 2010 |

As security breaches become a common occurrence in the travel, the Huffington Post has tips on to protect yourself from credit card debt while traveling.

Category icon Consumer Rights, Credit Cards, Credit Score, Travel

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Wells Fargo to get rid of penalty interest rates on credit card debt

Aug 04, 2010 |

If you’ve dealt with penalty interest on credit cards before, you know it’s a pain, but Wells Fargo may eliminate penalty APR in favor of other measures.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Merchant Link offers tokenization protection against theft, debt

Aug 04, 2010 |

Merchant Link recently announced it will be provide end-to-end tokenization for consumers in order to reduce the cost of maintaining PCI compliance.

Category icon Credit Cards, Financial Wellness

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MarketWatch encourages parents to teach teens about debt

Aug 04, 2010 |

While giving a teen a credit card for back-to-school shopping may seem like a bad idea, it might be a good chance to teach financial responsibility.

Category icon Credit Cards, Credit Score, Family, Student Debt, Young Consumers

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Consumers saved more money in June

Aug 04, 2010 |

American consumers spent the month of June saving their money rather than spending it.

Category icon Financial Wellness, Saving

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Edhance offers discounts to help students curb credit card debt

Aug 04, 2010 |

Edhance announces a new program that helps student earn discounts toward their school supplies every time they swipe their credit cards.

Category icon Credit Cards, Debt Relief, Student Debt, Young Consumers

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Subprime borrowers more likely to use debit than credit

Aug 04, 2010 |

A new study has found that subprime borrowers use their debit cards far more often every month than superprime consumers, who are more apt to take on credit card debt.

Category icon Credit Cards, Credit Score, Financial Wellness

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MasterCard posts Q2 profit as consumers take on more debt

Aug 03, 2010 |

MasterCard announced profits increased in the second quarter thanks to consumers taking on more credit card debt. But can Americans afford the debt?

Category icon Credit Cards, Financial Wellness

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Consumers find relief from credit card debt under new legislation

Aug 03, 2010 |

It’s been smooth sailing for consumers under the protection of new credit card legislation, including a notable decrease in credit cards with annual fees.

Category icon Credit Cards, Debt Relief

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Hackers target hotels, compromise account to cause debt problems

Aug 03, 2010 |

Credit card hacking has become popular at hotels around the world as consumers willingly provide their personal data to make charges during a stay.

Category icon Consumer Rights, Credit Cards

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New smartphone app lets consumers add credit card debt at restaurants

Aug 03, 2010 |

There's a new application aimed at consumers who often add to their credit card debt at restaurants but don't want to deal with the hassle of waiting for their server to bring back the check.

Category icon Credit Cards

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Consumers happily exchanging credit card debt for airline miles

Aug 03, 2010 |

Lenders who issue airline-branded cards have stepped up offers of bonus frequent flyer miles if you take on more debt, an Americans seem happy to oblige.

Category icon Credit Cards, Travel

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Agencies that pursue credit card debt too fervently face FTC action

Aug 02, 2010 |

Consumers may have learned the hard way that just because a lender stops sending bills due to non-payment, that doesn’t mean the debt has gone away.

Category icon Consumer Rights, Debt Advice, Financial Wellness

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New laws don’t prevent companies from creating debt for consumers

Aug 02, 2010 |

While there have been a number of positive changes as a result of the Credit CARD Act, some companies are finding ways to circumvent the rules.

Category icon Consumer Rights, Credit Cards

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AT&T, Verizon and T-Mobile to let consumers pay with phones

Aug 02, 2010 |

Consumers who want the ease of paying without using cash, but don't want to actually accumulate credit card debt, might soon have a new solution to their problem.

Category icon Company News, Consumer Rights

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July 2010

New online tool helps small businesses monitor credit card debt

Jul 27, 2010 |

In the past, many small business owners may have wanted a quick, easy way to monitor their credit card debt, but have been unable to.

Category icon Credit Cards, Debt Relief, Financial Wellness

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San Francisco introduces parking meters that take credit cards

Jul 27, 2010 |

Many consumers who often drive in big cities may have found themselves frustrated by parking if they didn't bring enough change for the meters.

Category icon Credit Cards

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Use Financial Common Sense for Back-to-School Shopping this Year

Jul 27, 2010 |

The back-to-school shopping season is swiftly approaching and retailers are gearing up to pull in consumers with clever sales and advertising campaigns.

Category icon Family, Financial Wellness

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Moody’s: Consumers paid off more credit card debt again in June

Jul 27, 2010 |

Backing up the internal reporting from issuers, new statistics highlight just how effectively consumers have been able to pay off their credit card debt.

Category icon Credit Cards, Debt Relief

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Americans may have trouble with credit cards overseas

Jul 26, 2010 |

Consumer traveling abroad may have trouble using credit or debit cards due to the out-of-date technology used in the U.S. credit industry.

Category icon Credit Cards, Travel

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Credit card debt getting worse despite reforms

Jul 26, 2010 |

While the idea of financial reform promised relief for many Americans, those that carried a large amount of credit card debt before it took effect may have found that things actually got worse.

Category icon Consumer Rights, Credit Cards, Debt Advice, Financial Wellness

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Rich getting richer on credit card fees

Jul 26, 2010 |

Low-income families may be helping the ultra-rich enjoy more credit card rewards thanks to transaction fees that are largely paid by cash-only consumers.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Credit union ex-employee attempted to amass fraudulent debt

Jul 23, 2010 |

Consumers trust banks and credit unions with their personal information every day, never dreaming that those employees could use it to attempt to give them fraudulent credit card debt.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Phishing scam could leave Floridians with credit card debt

Jul 23, 2010 |

Florida residents have started receiving emails in a new phishing scam that tries to capitalize on the devastation of the BP oil spill in the Gulf.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Misleading offer leads to additional credit card debt

Jul 23, 2010 |

A case in California shows how credit card offers can be misleading about interest and fees on balance transfer credit cards, even with new regulations.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Georgia comedy club accidentally opens customers to credit fraud

Jul 22, 2010 |

Customers of The Loft and Comedy Club in one Georgia city bought tickets for a night on the town, but may end up with fraudulent credit card debt.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Reform has saved consumers from increased debt, Pew study finds

Jul 22, 2010 |

While issuers are still looking for profitable loopholes, a new study finds reforms from the Credit CARD Act have changed borrowing for the better.

Category icon Consumer Rights, Credit Cards, Debt Relief

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Credit card rates remain unchanged again this week

Jul 22, 2010 |

For over a month, the national average interest rates for both fixed- and variable-rate credit cards have held at the same levels. This week was no different.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Missing information could lead to fraudulent credit card debt

Jul 21, 2010 |

South Shore Hospital in Weymouth, Massachusetts may have lost up to 800,000 records, leaving patients and doctors alike open to fraud and identity theft.

Category icon Consumer Rights, Credit Cards

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Information obtained illegally used for fraudulent credit card debt

Jul 21, 2010 |

A man posing as a detective illegally obtained information from dozens of credit cards in a number of Pennsylvania restaurants in order to commit fraud.

Category icon Consumer Rights, Credit Cards

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Nevada city to charge citizens for credit card payments

Jul 21, 2010 |

Any residents of Fernley, Nevada, that regularly take on credit card debt to pay their bills from the city will soon find some extra money added to the transactions.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Scam targeting Utah power customers could create credit card debt

Jul 20, 2010 |

Customers of a power company in Utah should be aware that they are being targeted by identity thieves in a scam that could see them hit for thousands of dollars in fraudulent credit card debt.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Two senators push for even more protection from credit card debt

Jul 20, 2010 |

Even as the Fed begins to enforce new consumer protection standards for credit card issuers, two Senators argue more needs to be done to protect families.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Arizona AG: Skimming devices could create fraudulent credit card debt

Jul 20, 2010 |

The Arizona Attorney General warns skimming devices could be used by identity thieves to pull info out of ATMs and gas pumps to commit identity theft.

Category icon Credit Cards, Financial Wellness

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Credit card debt forces lenders to get creative with incentives

Jul 19, 2010 |

As data shows consumers are decreasing their credit card debt loads, credit card issuers answer with more incentives and rewards to get people charging.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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New Visa measures protect consumers from credit card fraud

Jul 19, 2010 |

The latest measures from Visa meant to protect consumers and businesses from fraud have won acclaim from an industry leader in identity theft protection.

Category icon Credit Cards, Financial Wellness

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BBB warns consumers over scam that could rack up credit card debt

Jul 19, 2010 |

Millions of consumers use Amazon.com every day to purchase everything from clothes to big-screen TVs, and that's why it's become the center of an identity theft scam.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Financial reform to help those with credit card debt

Jul 16, 2010 |

Consumers that have worked for the last few years to get out from under ever-mounting credit card debt are about to get help from the federal government.

Category icon Banking, Consumer Rights, Credit Cards, Financial Wellness

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Bank of America says it will lose billions on financial reform

Jul 16, 2010 |

Bank of America, one of America’s largest lenders, claims it will lose up to $2.3 billion in revenue because of new regulations in the Credit CARD Act.

Category icon Banking, Credit Cards

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Major lenders say more credit card debt was paid off in June

Jul 16, 2010 |

Americans did a better job of keeping up with their credit card debt in June, as both delinquencies and write offs declined for five of the six major lenders.

Category icon Credit Cards, Debt Relief, Financial Wellness

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Capital One writes off less credit card debt in June

Jul 15, 2010 |

In a sign that consumers may be getting a better handle on paying their bills, one company reported fewer charge offs and delinquencies on credit card debt for June.

Category icon Credit Cards, Debt Relief, Financial Wellness

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Issuer writes off less credit card debt in second quarter

Jul 15, 2010 |

As issuers write off volumes of credit card debt as uncollectable, one company that oversees credit for several major retailers saw charge offs decrease.

Category icon Credit Cards, Debt Relief, Financial Wellness

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Lots of bad credit card debt keeps rates and fees high

Jul 14, 2010 |

Thanks to a number of factors, credit card companies have been handcuffed by losses in recent months, leading them to increase interest rates and fees any way they can.

Category icon Credit Cards, Financial Wellness

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Small business growth, employment tied to credit cards

Jul 14, 2010 |

When small businesses are able to take on credit card debt, rather than spending liquid capital, they are more likely to help the economy, a new study found.

Category icon Credit Cards, Employment

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Debt consolidation more likely with peer-to-peer lending

Jul 13, 2010 |

Consumers that are interested in debt consolidation may find that banks are imposing stricter lending policies in light of the country's current economic state.

Category icon Debt Advice, Debt Relief

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Consumers can’t meet goals saving money

Jul 13, 2010 |

Many consumers are saving less money than they'd hoped this year, thanks to bad shopping habits and unforeseen expenses.

Category icon Budgeting, Debt Advice, Saving

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Akron man pleads guilty to piling credit card debt on stolen cards

Jul 13, 2010 |

A man in Akron, Ohio, plead guilty to a slew of crimes, including writing bad checks, telecommunications fraud, grand theft, forgery, tampering with records and identity theft.

Category icon Credit Cards

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Bank, hotel employees stole credit card numbers for fraud ring

Jul 12, 2010 |

An alleged identity-theft ring that stole credit card numbers from thousands of American and Canadian consumers over a nine-year period.

Category icon Credit Cards

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FTC: Be on the lookout for small fraudulent charges

Jul 12, 2010 |

The Federal Trade Commission issues a new warning to American consumers about potential credit card fraud and the damaging financial impact it can have.

Category icon Consumer Rights, Credit Cards

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Fraudsters used fake credit card for cash and products

Jul 12, 2010 |

A fraud ring that has ripped off banks and businesses in seven states for thousands of dollars was indicted in Colorado after months on the loose.

Category icon Credit Cards

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Retailers affected by credit card laws

Jul 09, 2010 |

Could Credit CARD Act regulations designed to prevent changes without notice also keep retailers from being able to offer incentives like no money down?

Category icon Consumer Rights, Credit Cards

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Credit card debt looks better than it is

Jul 09, 2010 |

The latest numbers issued by the Federal Reserve may seem encouraging, but they actually show just how many people can’t pay their bills and risk default.

Category icon Credit Cards, Debt Advice

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Even incorrect charges can hurt consumers

Jul 09, 2010 |

Occasionally, credit card companies make mistakes and end up saying consumers didn't take care of a bill that was paid. When that happens, it's important for them to know what to do.

Category icon Consumer Rights, Credit Cards

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Credit card interest rates stay flat this week

Jul 08, 2010 |

After a sharp spike in late May, the national average for interest rates on credit cards has held more or less steady since mid-June.

Category icon Credit Cards

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Tips for lowering credit card interest rate

Jul 08, 2010 |

As credit card debt piles up for many American consumers, it’s important to know how to call a creditor directly to negotiate for a lower interest rate.

Category icon Credit Cards, Debt Advice

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Students rack up credit card debt to cover tuition

Jul 08, 2010 |

College students saddled with student loans may find themselves turning to credit cards to help pay their tuition and other educational expenses.

Category icon Credit Cards, Debt Advice, Family, Student Debt, Young Consumers

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Beware of Debt Settlement Companies “Come-on’s” this Summer

Jul 08, 2010 |

The debt settlement ads are more aggressive ever, but the financial reality doesn’t always live up to the promises made in get-out-of-debt advertising.

Category icon Consumer Rights, Debt Advice, Debt Relief, Financial Wellness

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Credit card dispute terms can be misleading

Jul 08, 2010 |

Occasionally, consumers will have a charge they want to dispute, be it for a faulty product,bad service, or even a scam.

Category icon Consumer Rights, Credit Cards

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Credit card ‘skimming’ gaining prominence nationwide

Jul 07, 2010 |

Many consumers believe that if they take the proper precautions, they will never have to worry about their credit card information being stolen. This is not the case, however.

Category icon Consumer Rights, Credit Cards

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ABA: Bank card delinquencies hit low

Jul 07, 2010 |

There's finally good news for credit card lenders who have been frantically writing off delinquent debts as uncollectable for years.

Category icon Banking, Credit Score

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Federal Reserve introduces new rules on overdraft fees

Jul 07, 2010 |

New rules from the Federal Reserve may force banks to ask customers to opt-in to programs that would allow overdraft fees on debit cards, hurting profits.

Category icon Banking, Consumer Rights

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Barclays takes over NFL credit cards

Jul 06, 2010 |

The NFL will change its branded credit card issuer from Bank of America to Barclays. Cardholders must spend points before the current program expires.

Category icon Credit Cards

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Unemployed slipping through cracks in the credit system

Jul 06, 2010 |

The rate of credit card defaults usually coincides with the unemployment rate, but now write-offs are outstripping layoffs as the recession continues.

Category icon Credit Cards, Employment

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“Paperless ticketing” gives consumers greater control

Jul 06, 2010 |

The days of standing in line to get physical tickets for the biggest concerts and sporting events may soon be over thanks to the rise of paperless ticketing.

Category icon Consumer Rights

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Card rewards can be difficult to redeem

Jul 01, 2010 |

For consumers looking to use their credit cards to help save money while traveling, they have noticed that redeeming their frequent flier miles has become a bit more difficult.

Category icon Budgeting, Credit Cards, Travel

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Credit card statements get overhaul

Jul 01, 2010 |

In the past, some consumers were confused by the credit card statement they received in the mail every month. This is because companies were not compelled to make them easy to understand.

Category icon Consumer Rights, Credit Cards

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New credit card laws give rise to penalty rates

Jul 01, 2010 |

Although the Credit CARD Act limits penalty fees that can be applied to consumer accounts, issuers have found a profitable loophole with penalty interest.

Category icon Consumer Rights, Credit Cards

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Effective 7/01: customer consent needed for overdraft enrollment

Jul 01, 2010 |

Beginning July 1, banks will have to get permsission from new customers before signing them up for overdraft coverage programs. Existing customers can do the same starting in mid August.

Category icon Banking, Consumer Rights

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June 2010

Fitch: Late payments on the decline

Jun 30, 2010 |

The number of late credit card payments that are 60 or more days behind have plummeted to a 17-month low, says Fitch.

Category icon Credit Cards, Financial Wellness

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Age may indicate which card is most appropriate

Jun 30, 2010 |

Not all credit cards are created equal. The type of card that best suits an individual depends on what they are looking for in a card and what stage they're at in life.

Category icon Credit Cards

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Credit card debt major financial mistake for students, study says

Jun 29, 2010 |

Survey finds 75% of financial advisers think lack of budget and credit card debt are the two biggest mistakes students make. How do students get ahead?

Category icon Budgeting, Credit Cards, Debt Advice, Financial Wellness, Student Debt, Young Consumers

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How to keep a healthy FICO score

Jun 29, 2010 |

Consumers don't have to be completely mystified by how their credit score is calculated.

Category icon Credit Score, Financial Wellness

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More consumers paying balances in-full each month, study finds

Jun 29, 2010 |

Americans have made 2010 the year to pay down their credit card debt, a study finds.

Category icon Credit Cards, Financial Wellness

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Prepaid card use growing, research shows

Jun 29, 2010 |

More people are using prepaid cards, a Cardbeat report published by Auriemma Consulting Group shows.

Category icon Credit Cards

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FTC stops million dollar scheme

Jun 28, 2010 |

The Federal Trade Commission has stopped a major international online scam that robbed millions of Americans.

Category icon Consumer Rights, Financial Wellness

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Debit card use particularly high in Florida, study finds

Jun 28, 2010 |

Consumers are gravitating towards using their debit cards for daily purchases, a TD Bank Checking Poll reveals.

Category icon Banking

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Credit cards to be accepted at Michigan offices

Jun 28, 2010 |

Michigan residents who don't like to carry cash on them now have a new option.

Category icon Credit Cards

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When using a credit card makes sense

Jun 28, 2010 |

Those struggling with credit card debt may steer clear of credit cards out of fear of wracking up a large balance. There are some situations where using a credit card makes sense.

Category icon Credit Cards, Debt Relief

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Fewer late payments in second quarter for Discover Card

Jun 25, 2010 |

Credit card debt management appears to be getting easier for some card holders to manage. Credit card giant Discover is reporting a drop in delinquent payments for the second quarter.

Category icon Credit Cards, Debt Relief

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Americans aren’t using their financial knowledge, study says

Jun 25, 2010 |

Americans are becoming more savvy about their finances, but don't apply their knowledge, a Lending Club survey reveals.

Category icon Credit Score, Financial Wellness

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‘Underbanked’ could be major profit maker for financial institutions

Jun 24, 2010 |

Prepaid cards may be a huge profit maker for financial institutions, research from MarketandMarkets suggests.

Category icon Banking

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Charge offs, delinquent credit card payments drop in May

Jun 24, 2010 |

Credit card charge offs fell in May, according to Moody's Investors Service Credit Card Indices Report.

Category icon Consumer Rights, Credit Cards

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Paying for a subway ride only needs a card tap

Jun 24, 2010 |

Commuters who use New Jersey and New York's buses and trains to get around will now be able to pay by tapping their credit card.

Category icon Credit Cards, Travel

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Debit card challenges credit cards with cash back reward

Jun 23, 2010 |

If you shy away from credit cards to avoid debt problems but miss the rewards, a new debit card cash-back reward program could be the perfect solution.

Category icon Banking, Credit Cards

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Lender loyalty decreases late payments

Jun 23, 2010 |

Consumers who have multiple loans at a financial institution are less likely to be delinquent with their payments, a study by TransUnion found.

Category icon Banking

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Card issuers and Durbin compromise

Jun 22, 2010 |

Card issuers and Illinois Senator Dick Durbin have come to a compromise over a proposed amendment to the Wall Street bill.

Category icon Banking, Consumer Rights

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Media helps teens with money management

Jun 21, 2010 |

Social media services are commonly used by teens to communicate, and now financial services companies are using the tools to help educate consumers about personal finance.

Category icon Family, Student Debt, Young Consumers

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Banks create new fees to hit consumers

Jun 21, 2010 |

Large banks are grappling with the effects of reform that will put an end to what have been deemed to be abusive practices.

Category icon Banking, Consumer Rights

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Americans remain stressed over debt

Jun 21, 2010 |

Debt is weighing on the minds of many Americans and making them stressed.

Category icon Debt Advice

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Small business owners show support for Durbin-Welch amendment

Jun 18, 2010 |

More than 100 small business owners marched to Capitol Hill to show their support for the Durbin-Welch amendment yesterday.

Category icon Consumer Rights, Credit Cards

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Financial education raises teens’ confidence

Jun 18, 2010 |

Financial education greatly helps young adults feel confident in their ability to manage their money, a Capital One survey finds.

Category icon Family, Financial Wellness, Young Consumers

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Card holds mean travelers need to pack extra money

Jun 17, 2010 |

Travelers who use their debit cards need to be good at money management and make sure they have extra cash in their bank account if they plan on using the card to pay for their hotel room.

Category icon Financial Wellness, Travel

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Swipe fee amendment update

Jun 17, 2010 |

Increased opposition towards a proposed amendment that would limit profits for card companies is making Illinois Senator Dick Durbin modify his stance.

Category icon Consumer Rights, Credit Cards

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Fewer late credit card payments in May

Jun 16, 2010 |

More Americans appear to be getting a grip on their finances and paying their credit card bills on time as delinquent credit card payments continue to decline.

Category icon Credit Cards, Financial Wellness

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Consumers can be freed from credit card debt

Jun 16, 2010 |

Learn what steps to take to reduce debt if you’ve been using your credit cards to cover budget shortfalls because you don't have enough money in the bank.

Category icon Credit Cards, Debt Advice

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Final rule made in CARD Act

Jun 15, 2010 |

Those with credit card debt stand to get more help from the government. The Federal Reserve Board approved a rule that will stop card issuers from charging excessive fees.

Category icon Consumer Rights, Credit Cards, Debt Relief

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Small banks oppose swipe fee restrictions

Jun 15, 2010 |

The battle between lawmakers and credit card issuers is raging on. Now small banks are voicing their opposition for the proposed amendment.

Category icon Banking, Consumer Rights

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Consumers don’t want debit amendment

Jun 14, 2010 |

Consumers who prefer to use plastic for payment aren't too keen about the proposed card amendment, a survey released by Visa finds.

Category icon Consumer Rights, Credit Cards

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Debit card swipes on the rise

Jun 14, 2010 |

With the economy still struggling, more consumers are managing their money by using debit cards for their purchases.

Category icon Financial Wellness

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Consumers should prepare for potential fee hikes

Jun 11, 2010 |

With deflation still evident in the economy, credit card interest rates could shoot up, according to some economist, Smart Money reports.

Category icon Credit Cards, Financial Wellness

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Watching out for fraud part of money management

Jun 11, 2010 |

When it comes to managing credit cards, consumers need to do more than just be careful about racking up debt. Cardholders must be diligent and monitor who has access to their card information.

Category icon Credit Cards, Financial Wellness

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Debt management doesn’t have to be overwhelming

Jun 10, 2010 |

Getting a grasp on credit card debt takes patience and a little strategy.

Category icon Credit Cards, Credit Score, Debt Advice, Debt Relief

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Start young to build credit

Jun 10, 2010 |

Learning how to manage money and credit cards while young may lead to a more stable financial future.

Category icon Credit Cards, Credit Score, Family, Saving, Young Consumers

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U.S. Bank to offer new financial services for Kroeger customers

Jun 09, 2010 |

The purchase of the Kroger grocery chain by U.S. Bank may mean Kroger shoppers will have access to a wide range of financial products, including credit.

Category icon Banking

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Soldiers victimize deceased crash victim in credit card fraud

Jun 08, 2010 |

Russian soldiers are accused of misusing the personal information of an eminent Polish historian killed in a plane crash in an odd act of credit fraud.

Category icon Credit Cards

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Personal finances could be set for rebound in 2010, analysts say

Jun 07, 2010 |

Several stock market experts report to MSNBC that although the market remains volatile, the general recovery should move slowly through the end of 2010.

Category icon Financial Wellness

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Credit scores stay the same despite fraud alerts

Jun 07, 2010 |

LifeLock faces criticism over its overuse of credit report fraud alerts. While these alerts don’t damage consumer credit, they also don’t prevent fraud.

Category icon Credit Score, Financial Wellness

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Fed report highlights upsides and downsides of CARD Act

Jun 07, 2010 |

Will the Credit CARD Act damage the prospects of small businesses trying to acquire credit in a down economy or have a positive effect on transparency?

Category icon Consumer Rights, Credit Cards

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Researcher: Credit card debt patterns shift among U.S. consumers

Jun 04, 2010 |

While the number of Americans stuck in the throes of long credit delinquency continued to decline in May, the rate of default remained high, according to research from Fitch Ratings.

Category icon Credit Cards, Debt Relief

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Despite CARD Act, some issuers still finding ways to overcharge

Jun 03, 2010 |

U.S. credit card holders gained new protections from the Credit CARD Act, and more protective provisions will be implemented over the next several years.

Category icon Consumer Rights, Credit Cards

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NFL star’s credit card may have been used fraudulently, police claim

Jun 03, 2010 |

Indianapolis Colts wide receiver Reggie Wayne alleges a former girlfriend has illicitly used his accounts to the tune of $93,000 in credit card debt.

Category icon Credit Cards

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New graduates can avoid future debt problems by saving early

Jun 03, 2010 |

Thinking about retirement well in advance can help newly minted college grads enjoy a comfortable retirement without money problems when the time comes.

Category icon Financial Wellness, Retirement, Young Consumers

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Mailing offers increase as U.S. consumer debt levels improve

Jun 02, 2010 |

Recent upturns in the U.S. economy have led to a surge of direct mail marketing to consumers, particularly for new credit card and insurance offers.

Category icon Debt Relief, Financial Wellness

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State governments back creditors on interchange fee regulations

Jun 01, 2010 |

Eight state treasurers are against an omnibus reform amendment that would place strict limits on the fee size credit card issuers can levy on merchants.

Category icon Consumer Rights, Credit Cards

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May 2010

Credit identity theft proofing still some way off, expert says

May 28, 2010 |

The chip-and-PIN transaction verification system used throughout the world may not enter general use in the U.S. without government intervention.

Category icon Consumer Rights, Financial Wellness

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Senator: Visa, MasterCard distorting effects of interchange fee reform

May 28, 2010 |

Comments from Visa and MasterCard’s management teams drew criticism from Senator Durbin, who says they misrepresent the risks of interchange fee reform.

Category icon Banking, Consumer Rights, Credit Cards

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Overseas debt crises make for better mortgage rates in U.S.

May 27, 2010 |

Freddie Mac reports that the growing economic crisis in the EU may be good for U.S. homebuyers, who will enjoy lower mortgage rates in the coming months.

Category icon Banking, Homebuyers

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Take me out to bankruptcy: Baseball team struggles with debt

May 27, 2010 |

It's not just consumers having trouble managing credit card debt these days. The Texas Rangers baseball team faced its own whopping bill to pay off, too.

Category icon Bankruptcy, Credit Cards

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What’s Next with the Credit CARD Act?

May 27, 2010 |

Now that the Credit CARD Act is in place and credit card issuers have changed policies to protect their profits, what should the average credit user do?

Category icon Consumer Rights, Credit Cards

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Consumers simplify finance with online accounts, study finds

May 27, 2010 |

Fully 25 percent of adult American consumers have attempted to open a checking account online so far in 2010, according to a recently released report from Javelin Strategy.

Category icon Bankruptcy, Financial Wellness

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U.S. consumers think things are looking up for the economy

May 25, 2010 |

Confidence appears to be growing among consumers. A recent survey showed consumers’ financial prospects were looking sunnier as the year wore on.

Category icon Employment, Financial Wellness

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Insurer: Avoid worsening debt by insuring what matters most

May 25, 2010 |

Hurricanes and tornadoes that have battered the U.S. have demonstrated how consumers seeking debt relief could be in trouble if they lose property.

Category icon Debt Advice, Military

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Wall Street Reform Act may provide consumers with debt help

May 24, 2010 |

Americans who are being dragged under by an underwater mortgage may have a new option for debt relief once the financial reform bill is signed into law.

Category icon Consumer Rights, Debt Relief

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Study: Default rates dropping for most consumer financial instruments

May 21, 2010 |

The consumer default rate in the U.S. on auto loans, mortgages and other financial obligations is generally trending lower, but are we out of the woods?

Category icon Financial Wellness

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Senate approves large-scale financial industry overhaul

May 21, 2010 |

An overhaul of the way the federal government regulates the financial industry passed the Senate, pushing it one step closer to becoming a settled law.

Category icon Consumer Rights, Financial Wellness

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Courts halt deceptive telemarketing for bogus debt counseling

May 20, 2010 |

Americans struggling to consolidate debt may have had their misery compounded if they fell victim to a scam artist with false promises of debt relief.

Category icon Consumer Rights, Debt Relief

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Gallup: Americans are cutting back on cutting back

May 20, 2010 |

There may be light at the end of the tunnel for uncontrolled consumer spending, as a recent Gallup poll shows Americans are spending less to save more.

Category icon Saving

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Natural disasters could be final straw for unlucky debtors

May 19, 2010 |

Consumers facing financial distress caused by debt from the recent recession could face ruin if uninsured homes are struck by a natural disaster.

Category icon Financial Wellness, Housing

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Survey: Bankers foresee upturn in credit card-related bankruptcy

May 19, 2010 |

Many U.S. bankers told researchers at FICO that they believed credit card delinquencies would rise in the near future, as some consumers prematurely celebrate the end of the economic downturn.

Category icon Credit Cards, Debt Advice, Housing

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Smart consumers can work to rejuvenate flagging credit scores

May 18, 2010 |

U.S. consumers struggling to stay solvent in the wake of the recession may breathe new life into their credit with carefully planned financial activity.

Category icon Credit Score, Debt Advice

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Report: Credit card debt worries could be easing for Americans

May 17, 2010 |

One of the big three credit reporting agencies has released the results of a study saying the number of Americans delinquent on their credit card bills has fallen for the fourth straight quarter.

Category icon Credit Cards, Debt Advice

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Credit counseling may be the right choice for consumers in debt

May 17, 2010 |

While the process is not without its pitfalls, PBS expert Michelle Singletary says that credit counseling and debt consolidation strapped consumers.

Category icon Credit Cards, Debt Advice

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AARP debt management recommendations praised by columnist

May 14, 2010 |

The American Association of Retired People's list of recommendations for successfully managing consumer debt has been released to positive reviews.

Category icon Credit Cards, Debt Advice, Seniors

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Experian: Seattle residents most likely to be saddled with big debts

May 13, 2010 |

Residents of Seattle boast an average consumer debt nearly $2,000 higher than the national average. Here’s what residents can do to find debt help.

Category icon Credit Cards, Debt Advice

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Consumers may be permanently lowering debt load, analysis shows

May 12, 2010 |

Credit users may be in the process of a structural move away from the historically high levels of credit card debt that existed before the recession.

Category icon Credit Cards, Debt Relief

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How to Plan a Hot Summer Wedding on a Cool Budget

May 12, 2010 |

Planning a wedding can be costly, time-consuming and complicated. Consolidated Credit's Wedding Planner explains how to plan a successful wedding without breaking the budget.

Category icon Budgeting, Relationships

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Teachers unconfident teaching consolidation methods, study finds

May 11, 2010 |

Despite general agreement that financial education is a critical for youth, a new study finds most K-12 teachers aren’t comfortable teaching the subject.

Category icon Financial Wellness

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Credit card offers to U.S. consumers rebounding strongly, study says

May 11, 2010 |

Despite the lingering aftereffects of the recent economic recession, credit card issuers have resumed their aggressive pursuit of American consumers.

Category icon Credit Cards

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Employment data shows increases in April, according to ADP

May 06, 2010 |

Americans looking to get out of debt saw improved conditions in the job market in April, as nationwide figures rebounded from a drop in the month prior.

Category icon Employment

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Consumers spend more time researching auto loans than mortgages

May 05, 2010 |

Despite mortgages costing roughly five times more than auto loans, consumers spend approximately half the time researching home loans before they buy.

Category icon Homebuyers, Housing, Saving

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Restaurant data on the mend in March, survey says

May 05, 2010 |

Restaurant sales and customer traffic showed notable increases in March, indicating that consumers may steadily be working their way out of debt and be more willing to spend disposable income.

Category icon Financial Wellness

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Consumer personal income on the rise, says BEA

May 04, 2010 |

Consumers across the country may find their budgeting a little bit easier to manage in the coming months, as most figures regarding personal income saw increases to end the first quarter of 2010.

Category icon Financial Wellness

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April 2010

Mortgage rates see slight declines, says Bankrate.com

Apr 30, 2010 |

Homeowners looking to get out of debt benefited from another week of mortgage rates that remained mostly stable for the week ending April 21, according to Bankrate.com.

Category icon Banking, Housing

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Jobless workers finding it easier to get new jobs, survey says

Apr 29, 2010 |

Consumers who are looking to get out of debt following a layoff are finding more success in quickly getting employed once again, according to a new CareerBuilder survey.

Category icon Employment, Financial Wellness

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MBA: Mortgage rates see increase in latest data

Apr 28, 2010 |

Homeowners looking to refinance their mortgage in order to get out of debt may be disappointed by new data showing that average rates increased.

Category icon Banking, Housing

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Substantial 12-month decline in Alabama industrial jobs

Apr 27, 2010 |

Alabama industrial jobs have seen significant losses, prompting Consolidated Credit to offer five tips to reduce budgeted expenses to avoid debt problems.

Category icon Employment

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Higher paying jobs are often more stressful, says study

Apr 26, 2010 |

High-stress jobs often mean more money in your pocket, but that added stress can end up costing you more and killing the extra income as you de-stress.

Category icon Employment, Financial Wellness

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Mortgage rates continue to fall in April, says MBA

Apr 22, 2010 |

After a week of significant interest rate drops on most types of mortgages, homeowners looking to refinance may be in luck if they need a better deal.

Category icon Banking, Housing

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New data shows further increases in U.S. economic data

Apr 21, 2010 |

We’ve seen yet another month of steady increases in economic indexes, providing hope to those looking to get out of debt who are relying on a recovery.

Category icon Financial Wellness

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Foreclosures rose by 7 percent during Q1 2010, study says

Apr 21, 2010 |

While the housing market may be showing some signs it is on the road to recovery, new data released this week shows that foreclosures are still on the rise across the country

Category icon Housing

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Mortgage rates increase following week of declines, says Zillow

Apr 21, 2010 |

Homeowners looking to get out of debt by refinancing their mortgages saw rates edge up slightly for the week ending April 20.

Category icon Banking, Homebuyers, Housing

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Invest in your child’s future, use refund for a 529 Savings Plan

Apr 08, 2010 |

If you haven’t started investing for your children’s education, using your tax refund to start a 529 college savings plan may be the answer you need.

Category icon Family, Saving

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Unemployment insurance claims increase in early April, says DOL

Apr 08, 2010 |

While less unemployment insurance claims have made it seem like people are finding other ways out of debt, the numbers for April tell a different story.

Category icon Employment, Financial Wellness

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Unemployment remains stable in March, says Dept. of Labor

Apr 05, 2010 |

The U.S. job market increased at its largest pace in three years in March, buoyed by temporary jobs added by the Census and emerging economic recovery.

Category icon Employment, Financial Wellness

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March 2010

Easter spending expectations show spending increase, says NRF

Mar 30, 2010 |

Consumer spending is set to increase this month with the added one-off expenses of Easter increasing budget stress and debt for some consumers.

Category icon Budgeting, Holidays

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New IRS Programs Can Assist Struggling Taxpayers

Mar 24, 2010 |

The recession has hit many Americans hard and many people may not realize that a job loss or added financial burdens may have positive tax implications.

Category icon Homebuyers

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Be aware of the tax credits that may be available this tax season

Mar 23, 2010 |

Taxpayers filing their first independent return this tax season may be able to take advantage of tax credits that substantially increase their refund.

Category icon Financial Wellness

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Zillow: Long-term mortgage rates have a mixed week

Mar 23, 2010 |

Fixed-rate mortgages are in flux now, suggesting homeowners looking to improve their situation through refinancing may want to get started soon.

Category icon Consumer Rights, Financial Wellness

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Average refund up nearly 10% compared to last year, say officials

Mar 22, 2010 |

New IRS data shows the American Recovery and Reinvestment Act has played an important role in increasing the average tax refund by nearly 10%.

Category icon Consumer Rights, Financial Wellness

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March expected to see increase in auto sales, says J.D. Power

Mar 22, 2010 |

Thanks to extreme weather and efforts to offset the damage countless recalls caused to consumer confidence, auto sales are expected to grow in March.

Category icon Auto

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Dept. of Labor: Unemployment insurance figures decline

Mar 20, 2010 |

Department of Labor data shows unemployment claims in decline, signaling more consumers are managing to maintain financial stability and their employment.

Category icon Employment

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Austin ranks as best place to live for young adults, study shows

Mar 16, 2010 |

Texas and Oklahoma come out on top as the states for young adults to find their financial footing during the recession, while Michigan ranks lowest.

Category icon Employment, Young Consumers

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Comerica Bank: California economy on the mend

Mar 15, 2010 |

Economic indicators in California continued to remain stable to begin 2010, remaining below peak levels for the third straight month but well below low numbers recorded nearly one year earlier.

Category icon Financial Wellness

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Freddie Mac: Most mortgage types see second straight week of declines

Mar 12, 2010 |

Freddie Mac found all mortgage rates declined this week, building upon rate drops in weeks prior, making it an ideal time to refinance your loan.

Category icon Banking, Housing

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Retail sales rise in despite weather, says Commerce Department

Mar 12, 2010 |

Despite winter storms that should’ve kept people indoors, consumer spending and retail sales increased during in February, signaling more budget freedom.

Category icon Articles

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Bank of America doing away with overdraft fees

Mar 10, 2010 |

Bank of America debit card holders won’t have to worry about hidden overdraft fees, as the institution will do away with them beginning this summer.

Category icon Banking

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Manpower Inc.: Payroll levels to increase slightly in Q2 2010

Mar 09, 2010 |

While new employment data does not indicate that the jobs will return at a quick pace, it does show steady improvement into the second quarter of 2010.

Category icon Employment, Financial Wellness

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Brides contributing more to their wedding planning/costs, says survey

Mar 08, 2010 |

With families struggling to make ends meet in the recession, brides are breaking protocol and dipping into their own finances for wedding day costs.

Category icon Budgeting, Family, For Women, Relationships

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Initial unemployment claims drop throughout February, says DOL

Mar 05, 2010 |

Unemployment claims continued to decline, spurring hopes that the job market recovery may finally be recovering to help struggling consumers.

Category icon Employment, Financial Wellness

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Mortgage rates dip to ideal refinancing levels, according to MBA

Mar 04, 2010 |

Mortgage rates declined during the final week of February as the volume of mortgage refinance application requests increased, according to the Mortgage Bankers Association

Category icon Banking, Financial Wellness, Housing

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February 2010

Rates have increased 16 percent ahead of CARD Act, says survey

Feb 22, 2010 |

Creditors have increased their rates by an average of 16 percent in the last year in preparation for the Credit CARD Act of 2009 that are now in effect, according to a new survey by BillShrink

Category icon Consumer Rights, Credit Cards

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Economic recovery on the way despite slow job market recovery

Feb 22, 2010 |

The economic recovery is progressing at a decent pace, despite a lag in the job market that may occur in February according to financial experts.

Category icon Employment, Financial Wellness

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Freddie Mac reports significant 2-week mortgage rate decrease

Feb 19, 2010 |

All types of mortgages declined during the week ending February 18, according to Freddie Mac. The descending rates may lead some to consider refinancing their mortgage in order to get out of debt

Category icon Financial Wellness, Housing

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Zillow: Mortgage rates fall to lowest point of 2010

Feb 17, 2010 |

Mortgage rates saw significant declines during the week ending February 16, as long-term rates hit their lowest point of 2010 so far

Category icon Housing

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Consumers’ financial optimism declines in 2010, says Country Financial

Feb 16, 2010 |

Following an optimistic spending season during the holidays, consumers were hit with hard realities in the beginning of 2010 as financial stability waned in February.

Category icon Financial Wellness

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Americans more conscious of “serious” news during difficult times

Feb 15, 2010 |

Amid a recession and two wars being fought overseas, Americans have a newfound interest in serious issues that could affect them firsthand as they attempt to get out of debt.

Category icon Financial Wellness

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Freddie Mac: Mortgage rates decline in second week of February

Feb 15, 2010 |

With long-term rates below 5 percent once again, homeowners looking to refinance their home in order to get out of debt may want to act now.

Category icon Banking, Housing

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Mortgage rates remain stable and ideal for refinancing, says Bankrate

Feb 12, 2010 |

While most mortgage rates remained stable during the first week of February, they’re still at a level that homeowners looking to refinance could use.

Category icon Banking, Housing, Saving

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Early Census responses could save millions in taxpayer money

Feb 08, 2010 |

Responding to the U.S. Census for 2010 may save you money on your taxes down the line, according to the U.S. Census Bureau.

Category icon Articles

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Unemployment declines less than 10% despite drops in payroll

Feb 05, 2010 |

The national unemployment rate dropped under 10 percent for the first time since September 2009 to 9.7 percent in January

Category icon Employment

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Families order out less, eat leftovers to save cash, says survey

Feb 03, 2010 |

Families are making a point to not throw out food and eat leftovers instead of continually ordering out

Category icon Family, Saving

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Mortgage rates decline in last week of January, says MBA

Feb 03, 2010 |

Interest rates declined during the week ending January 29, providing ideal rates for those looking to refinance their mortgages

Category icon Housing

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6 Ways to Dig Out of Debt

Feb 02, 2010 |

Make your business more solvent with these tips.

Category icon Debt Advice

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Consumer spending increases yet again to end ’09, says BEA

Feb 01, 2010 |

December 2009 saw yet another increase in personal income, which also allowed for consumers to put more money away in their savings accounts

Category icon Financial Wellness

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January 2010

Consolidated Credit Introduces the “Budget Tool” iPhone Application

Jan 26, 2010 |

Consolidated Credit announces a new free financial tool to help consumers budget better. The new budgeting app is available for free through iTunes.

Category icon Company News

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Some consumers using credit card debt less as new regulations loom

Jan 25, 2010 |

People also concentrating on paying off more of their card debt.

Category icon Consumer Rights, Credit Cards, Financial Wellness

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Hard Times as Over 14 Million People Look for Work

Jan 23, 2010 |

Over 14 million people are unemployed according to the Bureau of Labor Statistics. Consolidated Credit offers tips to help those without any income.

Category icon Employment

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Creditors respond to Credit CARD Act with new provisions

Jan 22, 2010 |

Though the Credit Card Accountability, Responsibility, and Disclosure act will bring changes to credit policies, consumers should stay informed on how they will be affected.

Category icon Consumer Rights, Credit Cards

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Consolidated Credit Goes Live with the CreditSoft Software Platform

Jan 18, 2010 |

Consolidated Credit announces the final rollout of their launch with the industry leading CreditSoft software that will make it easier to serve clients.

Category icon Company News

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Credit Card Dependence Leads Many Consumers to Financial Crisis

Jan 15, 2010 |

Consolidated Credit recommends ways to use credit cards to your advantage without becoming reliant on them to get by with your budget every month.

Category icon Credit Cards, Debt Advice

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2010 Let the New Year Resolutions Begin

Jan 11, 2010 |

As we ring in 2010, Consolidated Credit offers tips on how to stick to your resolution to get out of debt this year. Make your resolution into reality!

Category icon Debt Advice, Financial Wellness, Holidays

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After Holiday Spending, There Will be Financial Mending

Jan 08, 2010 |

Americans spend more than $700 per family on holiday purchases each year, leaving a pile of debt that remains long after the tinsel is tucked away.

Category icon Debt Advice, Financial Wellness, Holidays

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Bankruptcies continue to increase as consumers deal with debt problems

Jan 06, 2010 |

Numbers show filings were up 32 percent in November.

Category icon Bankruptcy

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Try a spending ‘fast’ to cut down on expenses in the New Year

Jan 05, 2010 |

A Washington Post columnist is suggesting those who want to improve their finances go through a 21-day spending fast

Category icon Debt Advice, Financial Wellness

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Parents and kids should be careful when loaning money

Jan 05, 2010 |

Borrowing from mom and dad can lead to problems in the family.

Category icon Debt Advice, Family

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Poll shows Americans feel optimism about the new year

Jan 05, 2010 |

Personal finances still a concern for many respondents.

Category icon Financial Wellness

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"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
Click here to learn more.

Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

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Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

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Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

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