Borrowing up, credit card use down
News from San Francisco Chronicle:

Ben Bernanke says the Fed needs to continue its stimulus programs to boost the “frustratingly slow” recovery.

CREDIT

Borrowing up again in April

Americans borrowed more money in April for the seventh straight month, but they cut back on using their credit cards.

The Federal Reserve says consumer borrowing rose by nearly $ 7.2 billion, fueled by greater demand for school and auto loans. Credit card use fell for the second time in three months. It has risen only twice since August 2008, the height of the financial crisis.

The 3.1 percent overall increase pushed consumer borrowing to a seasonally adjusted annual level of $ 2.43 trillion, just above the nearly four-year low of $ 2.39 trillion hit in September.

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How to Avoid Credit Card Problems Abroad
News from New York Times:

LIKE many Americans who have tried to use their credit cards in Europe, Elliot E. Porter, a historian from San Francisco, has encountered his share of payment headaches. Perhaps the most aggravating occurred a few months ago at Amsterdam Centraal Station, where he learned only after waiting in line to purchase train tickets that none of his credit cards, which include a MasterCard, Visa and American Express, would be accepted. The problem? T…………… continues on New York Times

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