7 worst times to use your credit card

Posted by administrator | 08/12/11 | Tagged Credit Card

7 worst times to use your credit card
News from Fox Business:

Your phone rings. It’s your favorite charity on the line, asking for a donation. You could give generously by simply rattling off your credit card number.

You’re in the market for a new car. You just received an offer for a cash back rewards card. Why not put the new car on the card and pocket the savings?

Your medical bills are adding up faster than you can pay them. You could catch up by putting those bills on your best credit card.

Not so fast

What are you getting yourself into? “If you can pay it back quickly, credit cards are a means to acquire something with safety and affordability,” says Tom Coates, director of Consumer Credit of America in Des Moines, Iowa.

But before you pull out even your best rewards credit card, stop and think. In some cases, using your credit card cou…………… continues on Fox Business

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Crocodile Tears From the Credit Card Industry
News from Mother Jones:

The Wall Street Journal reports on the latest middle finger from the credit card industry:

Just two months after one of the most controversial parts of the Dodd-Frank financial-overhaul law was enacted, some merchants and consumers are starting to pay the price. Many business owners who sell low-priced goods like coffee and candy bars now are paying higher rates—not lower—when their customers use debit cards for transactions that are less than roughly $ 10.

That is because credit-card companies used to give merchants discounts on debit-card fees they pay on small transactions. But the Dodd-Frank Act placed an overall cap on the fees, and the banking industry has responded by eliminating the discounts.

“There will be some unhappy parties, as there always is when the government gets in…………… continues on Mother Jones

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Consumer credit card debt grows in October

Posted by administrator | 08/12/11 | Tagged Credit Card Debt

Consumer credit card debt grows in October
News from CreditCards.com:

By Kelly Dilworth

Consumer credit card balances edged higher in October, defying experts’ expectations, according to new data from the Federal Reserve.

continues on CreditCards.com

In October, consumer credit card debt edged up by 0.6 percent for the second straight month. The chart below graphs Americans’ credit card debt totals from their peak of $ 972.2 billion in August 2008 through October 2011, when debt stood at $ 792.3 billion.

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Struggling With Holiday Credit Card Debt?
News from Centre Daily Times:

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