Consumers who are attempting to rebuild their credit and find greater financial flexibility by increasing their ability to take on credit card debt may still be faced with higher upfront fees for opening an account as a result of a U.S. District Judge's Ruling. Judge Karen Schreier recently placed a preliminary injunction on a rule […]
Some experts have expressed concern over the way that one of the nation's top handlers of credit card debt is attempting to take over a major online banking business, but the lender says its focus will remain on issuing cards. Capital One Financial says that its recent move to acquire ING's U.S. online banking unit […]
The number of companies who met standards designed to ensure that consumers were not hit with fraudulent credit card debt neither shrank nor grew in 2011, a new study found. Just 21 percent of organizations surveyed reportedthat they completely met the Payment Card Industry Data Security Standard, a baseline for protecting consumer credit card information […]
The rate at which consumers fell so far behind in paying down their credit card debt slipped appreciably in the third quarter for one of the nation's largest lenders as Americans took more steps to reduce debt. Discover Financial Services recently said that it saw profits more than double on a year-over-year basis during the […]
The Durbin Amendment to the Dodd-Frank Act was designed to help protect consumers, but may end up resulting in higher costs for making credit card purchases. The Federal Reserve Board recently capped the amount payment processing networks could charge businesses for accepting debit transactions, but now these networks are likely to boost the fees for […]
The rate at which consumers allowed their credit card debt to be passed on to collections by their lenders after repeated failure to pay their bills fell once again in August. The national credit card default rate slipped inAugust to a rate of 5.26 percent of all balances, down significantly from July's rate of 5.64 […]
Many consumers have worked hard in recent months to reduce debt loads, and a new poll finds that many have been successful. The total percentage of consumers who say they are carrying more debt now than they were at this time last year slipped to 23 percent, according to a recent Rasmussen Reports survey. That's […]
Recent data shows that consumers are once again spending more money on their credit cards, leading to higher debt levels, the likes of which haven't been seen since the recession ended. The latest 2011 Credit Card Debt Study from the consumer comparison site CardHub.com revealed that consumers added $18.4 billion in credit card debt during […]
The number of consumers who were looking to get out of debt increased once again in August, leading one of the nation's top lenders to write off fewer accounts as being uncollectable. The latest monthly regulatory filing from Discover Financial Services reveals that it saw its credit card charge off rate – the number of […]
The rate at which Americans fell severely behind in paying down their outstanding credit card debt increased in August, marking the first time in four months the national charge off rate rose. Fitch Ratings recently reported that the national charge off rate spiked to 6.41 percent after months of declines, due largely to problems experienced […]