Boom in credit card use
News from Famagusta Gazette:

Cypriots� domestic transactions using credit cards amounted to 256.078.244 euro in December 2011, presenting an increase of 12%, compared to December 2010, according to data released by JCC.

During December 2011 the value of purchases and withdrawals carried out by Cypriots abroad, using credit cards, totaled 110.771.847 euro, presenting an increase of 7% compared to December 2010.

According to JCC, in December 2011 the use of credit cards in supermarkets reached 31.81% and for clothing 16.11%. In other retailers the use of credit cards reached 15.78%, while for petrol reached 9.98%. Credit card usage reached 6.05% in DIY and Household Stores, 5.73% in department stores and 4.36% for entertainment.

Moreover, in 2011 Cypriots� domestic purchases by the use of credit cards amounted to 2.205.535.632 euro. An increase of 11% was recorded compared to 2010.

In 2011 purchases and withdrawals of Cypriots by the use of credit cards abroad, reached 1.284.903.167 euro, presenting an increase of 10% compared to 2010.

The total value of transactions made by tourists in Cyprus, during December 2011, reached 22.585.050 euro, presenting an increase of 12% compared to 2010, while du…………… continues on Famagusta Gazette

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Credit Score Zealots Pursue Fool’s Errand for Scores
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Sept. 1 (Bloomberg) — Sweeping lesgislation has changed the fine print in the cardholder agreements that come with your credit card. Find out how the law affects you. (Source: Bloomberg)

Sept. 2 (Bloomberg) — Sweeping legislation has changed the fine print in the cardholder agreements that come with your credit card. Find out how the law affects you. (Source: Bloomberg)

Jeff Rose, a 33-year-old financial planner, is trying to improve his credit score even though it’s 780, which is 69 points above the median score.

Rose, who lives in Carbondale, Illinois, said he opened up a second credit card last year to establish another line of credit and help boost his score. He said he doesn’t know exactly what actions will help or hurt his score, so wants to get it above 800 to ensure he gets the best rate if he refinances his mortgage.

Three years after the credit crisis when lenders abruptly closed a…………… continues on Bloomberg

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