The success or failure of the mobile payment industry may depend on the U.S. version's ability to emulate Japan in 2011, according to a report from Javelin Strategy and Research. Overseas, taking on credit card debt using a mobilephone has become the norm, and companies must reassure consumers that this system is secure effective. "In […]
The nation's six largest credit card lenders – American Express, Bank of America, Capital One, Chase, Citibank and Discover – all saw the rate at which they had to write off consumers' seriously delinquent credit card debt as being uncollectable slip to year-long lows, according to a report from The Associated Press. However, despite the […]
Citi saw its rate of charge offs – credit card debt that has fallen so behind in payments they're deemed uncollectable – slip significantly in December, to 8.34 percent, according to a report from The Associated Press. That was a 22-month low, and down from 9.4 percent observed in November. The lender's peak default rate […]
Prepaid debit cards have become a popular gift for holiday shoppers, and a frequently-used payment option among consumers who either can't or don't want to deal with the hassles of credit card debt. But the fees that are typically associated with these accounts can also cause headaches, according to a report from USA Today. Prepaid […]
Capital One Financial had fewer instances of charge offs and delinquency in December as consumers continued to improve their finances and get a better handle on their credit card debt, according to the company's monthly regulatory filing. The company saw charge offs – credit card debt so late on payments that the company writes it […]
Just 51 percent of consumers now say that paying off all of their credit card debt is a priority, according to the latest biannual BAI and Finacle Index of Bank Sentiment. That's down from the 53 percent who responded similarly in the same poll last year, but up from the August 2009 low of just […]
Millions of consumers stopped using their credit cards altogether in 2010, though a portion of that was due to some being unable to pay their credit card debt at all, according to a report from the Minneapolis Star-Tribune. In all, the number of Americans with at least one credit card dipped to 62 million last […]
JPMorgan Chase enjoyed a profit of $4.8 billion in the fourth quarter of 2010 behind better performance for its credit card debt division, the company recently announced. This marked an increase of 47 percent over the same quarter in the previous year. In addition, consumers seemed less wary of taking on credit card debt than […]
The number of cases in which consumers have been sued over seriously late credit card debt is on the rise again, according to a report from the San Jose Mercury News. In particular, these cases often come from debt collections agencies, which are taking advantage of automated systems to process a greater number of lawsuits. […]