Two of the nation's largest credit card lenders recently reported that the amount of credit card debt they had to write off as being uncollectable increased in July, reversing a trend seen for all major financial institutions since the start of the year. Both Bank of America and Citi saw the rate at which they […]
The rate at which consumers paid off their seriously delinquent credit card debt improved during the month of July for one of the nation's largest credit card lenders, even as it saw more customers fall behind for the first time instead of working to reduce debt. The latest regulatory filing from Capital One Financial revealed […]
The amount of money spent on consumers' credit cards and the number of times they were used both increased considerably on a year-over-year basis during the month of July, but the rates at which they expanded slowed overall, according to the latest monthly statistics from First Data Corp.'s SpendTrend report. The amount spent increased 7.3 […]
Consumers who have large amounts of credit card debt may have been dismayed to hear that a downgrade in the U.S. credit rating would eventually lead to higher interest rates on consumer loans, and now that type of increase may be on the horizon. Standard and Poor's recently announced that it would downgrade the credit […]
Some consumers in the state of California may have recently gotten an unpleasant surprise when they attempted to use their credit cards to make a purchase. A number of small businesses throughout California were recently discovered to be charging consumers small fees for taking on credit card debt to make purchases, according to a report […]
Credit card debt is once again becoming a major problem for consumers and, as a consequence, many are experiencing more stress over their balances and wondering how to get out of debt. The number of Americans who worry about their credit card debt all or most of the time rose to nearly 20 percent in […]
As part of the continuing expansion of both payment processing networks and cellphone service providers into the mobile purchase market, two major names recently teamed to launch a new platform. American Express and Verizon Wireless recently launched a new program that will allow consumers to take on credit card debt using their smartphones in a […]
While a large number of consumers are struggling under tremendous credit card debt and other balances they were forced to take on during the recent national recession, those in some states have largely been able to avoid some of thoseproblems. Residents of Oklahoma have the lowest average indebtedness in the country, owing just $126,027, according […]
Many consumers across the country are dealing with high credit card debt as a result of money problems experienced during the recent national recession, but some states have been more affected than others. New data from Credit Karma shows that California is the most indebted state in the nation, with consumers there carrying balances of […]
Consumers in the U.S. have taken to using their credit cards more often in recent months, spelling a huge surge in profits for the world's biggest payment processing network. Visa recently announced that it saw profits surge by 40 percent in the fiscal third quarter of the year to $1 billion, beating analyst estimates, according […]