credit cards Archives

CFPB Investigating Credit Card Late Fees and Penalties

Posted on July 22, 2022 by | April Lewis-Parks (6-minute read)

Credit card companies make a large percentage of their profits from fees and penalties. The CFPB has begun investigating if they're higher than legally allowed.

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Understanding Common Credit Card Fees

Posted on December 22, 2021 by | Meghan Alard (9-minute read)

Rules and regulations concerning common credit card fees are constantly changing. Stay up-to-date on the latest fee news and choose your cards wisely.

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Consolidated Credit Establishes COVID-19 Financial Help Hotline

Posted on April 10, 2020 by | Meghan Alard (3-minute read)

Consolidated Credit has established a free COVID-19 debt hotline for consumers facing challenges during the shutdown. Call for 800-745-2513 for support.

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Overspending for Credit Card Rewards You Never Use

Posted on March 20, 2020 by | Meghan Alard (4-minute read)

Studies show that consumers use charge more to earn credit card rewards, but often never do anything with them. Find tips for refining your credit strategy.

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New FICO Credit Score Changes: Some Will Soar, Other Will Crash

Posted on February 11, 2020 by | April Lewis-Parks (3-minute read)

Learn how the latest credit score changes with FICO 10 will affect people who are working to pay off credit card debt, and those using consolidation loans.

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Consumer Credit Card Debt Breaks Records… Again.

Posted on March 19, 2019 by | Meghan Alard (6-minute read)

It’s official. Consumers ended 2018 with a record $870 billion in credit card debt. If you have high balances to pay, Consolidated Credit has some advice.

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A Snapshot of Credit Card Debt by State in 2019

Posted on February 15, 2019 by | April Lewis-Parks (4-minute read)

Total debt and the number of delinquent accounts are both climbing. We look at average credit card debt by state and offer tips to eliminate debt.

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5 Good Reasons to Call Your Credit Card Company

Posted on December 19, 2018 by | Meghan Alard (5-minute read)

A credit card company wants your business, so they’re usually willing to give you certain money-saving perks for sticking with them. Learn how you can turn customer loyalty into more credit card rewards, cut annual fees and lower interest rates.

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Two Major Creditors Scale Back on Customer Credit Card Limits

Posted on November 12, 2018 by | Meghan Alard (9-minute read)

Credit card companies set credit card limits based on your score, but your credit limit may also change for other reasons. Here’s what you need to know.

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Millennials’ Biggest Source of Debt Might Surprise You

Posted on October 5, 2018 by | April Lewis-Parks (4-minute read)

You might think that most Millennials struggle the most with student loans, but a new study reveals that their biggest source of debt is credit cards.

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Are You on a Yo-Yo Diet of Debt Repayment?

Posted on September 14, 2018 by | Meghan Alard (3-minute read)

Americans paid off $40.6 billion of debt in the first quarter but added $30 billion back in the next. Are you on a yo-yo diet of credit card debt repayment?

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Understanding the Effects of Missed Payments

Posted on September 7, 2018 by | Meghan Alard (7-minute read)

If you have credit cards, the impact of missed payments can be massive. Here’s what you can expect for budget and credit if you miss a credit card payment.

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Reducing the High Cost of Credit Card Debt

Posted on August 6, 2018 by | Meghan Alard (6-minute read)

Consumers pay over $100 billion every year on credit card interest charges and fees. We explain how to minimize the high cost of credit card debt.

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Do You Know Your Annual Interest Rates?

Posted on July 6, 2018 by | Meghan Alard (5-minute read)

Half of credit card users that carry at least one credit card balance don’t know their annual interest rates, which means they’re probably overpaying.

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74% of Americans are Getting Married with Debt

Posted on June 15, 2018 by | Meghan Alard (3-minute read)

Three out of four couples will use credit to finance their wedding, with an average price tag of $33,391. We explore why getting married with debt is a fast way to ruin your relationship and offer tips on how to enjoy a debt-free wedding.

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One More Good Reason You Don’t Need Credit

Posted on June 4, 2018 by | Meghan Alard (5-minute read)

For more than two decades, attractive rewards programs have been a big reason that many consumers turn to credit cards at checkout. But as banks scale back credit card rewards and increase debit card rewards, this trend may be changing.

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When is the Right Time to Retire Old Credit Cards?

Posted on April 24, 2018 by | Meghan Alard (3-minute read)

20 million people haven’t changed their primary credit card in 10 years, but are old credit cards effective or is it time for an update? Learn what to do with old accounts to avoid credit damage.

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Can You Afford the Cost of Debt?

Posted on April 6, 2018 by | Meghan Alard (4-minute read)

Another interest rate hike by the Federal Reserve means that the cost of debt for consumers just got higher again. WalletHub has revised their map of cities with the most and least sustainable credit card balances. Can you still afford to pay off your debt in a cost-effective way or do you need debt relief?

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Don’t Loan Credit Cards!

Posted on March 30, 2018 by | Meghan Alard (3-minute read)

If you thought lending money to family was a bad idea, consider that 36 million Americans admit they’ve run into trouble when they decided to loan credit cards to friends and family. Learn why it’s a bad idea and what you can do instead to help someone out.

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12% of Americans Had a Credit Card Declined Last Year

Posted on March 16, 2018 by | April Lewis-Parks (4-minute read)

One in ten Americans had a credit card declined last year, but embarrassment is really the least of your worries if it happens to you. Learn why cardholders experienced a declined credit card last year and what you can do to avoid it.

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Past Due Debt Payments at an All-Time High

Posted on March 2, 2018 by | Meghan Alard (3-minute read)

A new report finds that American consumers are breaking records with past due debt payments, while businesses are managing to keep up. If the economy is strong, then why are some many families facing collection accounts and credit damage?

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Which Cities are Home to the Highest Credit Card Debt?

Posted on February 23, 2018 by | April Lewis-Parks (3-minute read)

A study of 25 metropolitan areas in the U.S.Cities shows thoese with the highest credit card debt take longer to pay it off. Is your city on the list?

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Big Changes Coming to Credit Cards Offering 0 Interest on Balance Transfers

Posted on February 19, 2018 by | April Lewis-Parks (4-minute read)

As consumer debt levels continue to break records, driven by credit card debt, many households may turn to balance transfer credit cards to consolidate. However, new changes in credit cards offering 0 interest on balance transfers could make this type of consolidation less beneficial.

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What Causes America’s High Credit Card Balances?

Posted on February 16, 2018 by | April Lewis-Parks (3-minute read)

Americans have record high credit card balances that are often caused by covering daily expenses to make ends meet. We look at reasons for debt and offer helpful tips on how to achieve a balanced budget so you can avoid credit card debt.

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