Americans Adjust Their Credit Habits as a Result of the Pandemic
Even as Americans focus on paying down revolving debt, millions are relying on credit cards to address income challenges during the pandemic.
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debt consolidation
Big Changes Coming to Credit Cards Offering 0 Interest on Balance Transfers
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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Credit Card Use Continues to Climb
Consumer credit card use continues to climb, now beating pre-recession levels of spending. Credit card debt increased by 13% in November alone, leading to an all-time high of $1.023 trillion. Here’s what you can do to pay off your debt.
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Not Out of the Woods with Student Loan Debt
The CFPB estimates that one in three rehabilitated student loan borrowers is at risk of re-defaulting on their student loan debt in the next 2 years.
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Credit Card APR at 5-Year High
The average credit card interest rate is now at 15.22%. What does that mean for your ability to manage credit card debt effectively within your budget?
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The Carrot and Stick of Student Debt Repayment
Collection practices for defaulted student loan debt won’t get any gentler, but customer service for repayment on current student loans may get better.
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Sacrificing for Student Loan Payments
You want to eliminate your student loans but a high monthly payment burden now could prevent major life goals like marriage and buying a first home.
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