Poor Economy is Hitting Credit Scores Hard

I’m sure this will come as a surprise to no one, but as consumers struggle to pay their bills, credit scores are getting hit pretty hard. According to TransUnion, one of the major credit rating bureaus,... 

The Credit Crisis of 2008

The credit crisis of 2008 will have an effect on us all, one way or another. The bailout of Wall Street banks and investment houses will be paid for by someone… and I’m sorry to say that that... 

Credit Card Companies Moving Away From 0 APR Intro Offers

No surprise here – credit card issuers are approving fewer credit card applications. The credit crisis is may have been precipitated by bad mortgages, but that does not mean other facets of the economy... 

American Express Cracks Down on Credit

American Express recently acknowledged that they are cracking down on their customers in light of the present financial climate. They are now proactively factoring in such credit issues as where purchases... 

College Students and Credit Card Debt

A recent Zogby poll revealed that nearly one in four (23 percent) college students leave school owing more than $5000 in credit card debt. That’s a pretty disturbing number when you factor in that... 

Is Your Credit Score Affected By Credit Card Balance Transfers

Transferring a balance from one or more credit cards to take advantage of better interest rates seems like a no-brainer right? After all, paying interest in excess of 12% on anything seems pretty high... 

Capital One Reports Increased Charge-offs

I just read an interesting article about Capital One on Forbes.com. The credit card issuer had a rough day on Wall Street on Wednesday (10-15-08). They reported that their charge-offs, otherwise known... 

Credit Card APRs Lowered

Well, maybe there is a hint of good news coming from our current credit malaise after all. Creditcards.com has reported that APRs (annual percentage rates) is lower this week compared to last week, in... 

Credit Card Charge-Offs Will Exceed $100 Billion

It is reported that credit card charge-offs will reach the $100 billion mark by the end of 2009. The net effect of this will be to further exacerbate our current financial mess and push many more American... 

Interest Rates on Credit Cards Remain Steady

Despite the Federal Reserve Bank’s attempts to make credit more affordable and steer us out of this financial quagmire that we find ourselves in, credit card interest rates have either remained steady...