Business credit card debt set to rise?

Posted by administrator | 25/08/11 | Tagged Credit Card Debt

Business credit card debt set to rise?
News from Fox Business:

FICO, the company behind the nation’s most popular (no, wait: the nation’s most widely used) credit scoring system, recently commissioned a survey of of 272 risk managers at banks. It’s hard to conceive of a more tedious task than holding a conversation with any “professional risk manager,” let alone one employed in the American banking sector, but someone has to do it. Anyway, the survey’s findings did contain some interesting facts.

Business credit card use likely to rise

When asked whether they expected demand for credit from small businesses to grow in the next six months, 74 percent of respondents said yes. But only 46 percent thought that the supply of credit to those small businesses would increase. That’s quite a shortfall, and bigger than the one FICO found when it posed the same questions to bank risk managers in Europe. (Who’d have thought it? We’ve already discovered a more tedious task than talking to risk managers in American banks.)

So what can…………… continues on Fox Business
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Analysis: South Korea’s reckless consumers edge towards debt
News from Reuters:

SEOUL |
Thu Aug 25, 2011 10:02am EDT

(Reuters) – If thrift is an Asian virtue, then it is one that South Koreans are notably lacking: each adult has almost five credit cards on average and the household debt burden exceeds that of the United States before the subprime crisis.

With the growing risk of a global double-dip recession hitting exports from Asia’s fourth largest economy, consumer spending has been key to economic growth.

But household borrowing has propped up that spending. With debt far above levels that triggered a cred…………… continues on Reuters
… Read the full article


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5 Places Never to Use Your Debit Card

Posted by administrator | 25/08/11 | Tagged Credit Card

5 Places Never to Use Your Debit Card
News from TheStreet.com:

NEW YORK (MainStreet) — No doubt about it, debit card usage is a big part of the new normal on Main Street these days as consumers try to manage credit card debt.

According to the TSYS & Mercator Advisory Group Debit Survey 2011, debit is now the preferred payment type in most point-of-sale locations, beating cash, credit cards and checks. But that doesn’t mean you should use debit cards all the time. In fact, there are some places and times using a debit card is actually a lousy proposition.

For example, using a debit card online can work against you. If you have a problem with the purchase or your debit card number is stolen, it’s a huge hassle to get the money restored to your account and make your c…………… continues on TheStreet.com
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Credit cards for business now coming with more rewards
News from Debtmerica Relief:

In an effort to entice more companies into taking on credit card debt to better facilitate their transactions, some major lenders are now offering business credit cards that are associated with rewards programs and other perks.

More competition among credit card issuers to entice small business owners into opening accounts for their companies has led some major lenders to begin offering cards with cash back rewards programs, or other perks that can make the cards more affordable, according to a report from Entrepreneur. S…………… continues on Debtmerica Relief
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