Plastic’s Problem: Falling Credit Card Debt
News from Investorplace.com:

   

Investors all around have been pretty bullish on credit-card companies as of late. There’s plenty of reasons behind their success, but one of the biggest drivers is one of the simplest: More and more people are paying using plastic.

Banking and payment services outfit Discover Financial (NYSE:DFS) has been t…………… continues on Investorplace.com

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Important Things to Know About Credit Card Insurance Plans
News from Opposing Views:

It sounded like such a good idea at the time. It was 2009, the nation was in the middle of the Great Recession, the housing market was taking a serious blow, and Janet Summers* decided she needed a little protection from life’s big changes.

Her husband still had work renovating homes in the Charlotte, N.C., area, and Summers had a job, too. But when a nice woman called from Sears to ask if Summers would like to sign up for an insurance policy on her Sears credit card, it sounded like a good precaution to take. And at about $ 80 a month, it seemed like a reasonable expense.

The caller said the insurance “would cover my balance up to $ 10,000.00 in case I lost my job, had to take care of a family member, or my husband became unemployed and I was the only one working,” Summers said in a recent email. “So I took out the insurance believing that this is a good deal.”

Over the next three years, Summers paid Sears $ 3,000 for the insurance. Even in the midst of the recession, her husband’s company continued to profit, as many people who had planned to buy new homes decided instead to renovate the ones they already owned.

Then, this March, her husband lost his job. The financial impact hit immediately.

“It was booming there for a while, and all of a sudden it just stopped,” Summers writes. “And that’s when I had to use my credit card to pay some…………… continues on Opposing Views

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