Credit NEWS

Big changes are on the horizon for the prepaid card market.
Up to now prepaid cards have had a bit of a stigma attached to them, seeming to carry the implication that the cardholder was unable to qualify for a traditional credit card for whatever reason. Prepaid cards also had a somewhat bad reputation for carrying [...]

In the second quarter of this past year, Americans added somewhere around $18.4 billion to their debt. If you take it upon yourself to study where Americans stood as a nation in regards to credit card debt the year before, that’s about a 368% increase (same quarter, too).
The last time Americans brought upon themselves the [...]

Our nation’s largest bank is in some serious financial trouble, and it’s trickling down to the everyday people like you and me. Indicative of our economy’s state and in a last-ditch effort to save money, Bank of America is eliminating at least 3,500 jobs over the next few months. It is not currently known where [...]

College affinity cards that were the most popular among colleges, universities and many alumni associations are quickly becoming a thing of the past. While these cards will definitely not disappear beyond the horizon, the number of college affiliated cards being issued has definitely seen a sharp decline since the implementation of the Credit Card Accountability, [...]

Who would want to throw up a chance to make a lot of money with minimal effort? But tell them the best way is to sign up for multiple cards that offer lucrative sign-up bonuses and you will see people taking a step back. Most of the customers believe that availing multiple credit cards can [...]

One of the major credit card lenders in the United States, Capital One, continued to post positive results for the month of May as well. Adding to the list of positives to the bank, the number of defaults in terms of credit card payments showed a downward trend even in the fifth month this year.
The [...]

Before the implementation of the Credit Card Accountability, Responsibility and Disclosure Act almost a year ago, the banks had an upper hand over credit card holders and could tweak rules and increase interest rates and fees on cards as and when they deemed it fit. The implementation of this act brought about a much needed [...]

Customers who had a lot of troubling understanding the finer details of credit cards have finally found a reason to smile, thanks to the CARD Act. Through the last 12 months that this act has been in implementation, a lot of credit card lenders are ensuring they explain the terms, conditions and promotional offers clearly [...]

One of the most recent studies conducted reveals that a number of families in the United States are still trying hard to bring their finances under control. Conducted by Equifax, one of three major credit bureaus, this study revealed that there are certain households in the United States which have 17% of their total income [...]

Banks are surely feeling the crunch these days, thanks to the regulations of the CARD Act and also decreased use of credit cards by card holders. In an effort to make up for the loss of revenue, banks are looking for newer ways to ensure their profit margins do not take a hit. A number [...]