For the last 20 years, the rates of delinquent and defaulted credit card debt have moved more or less the same way as those for national unemployment. But recently, banks have seen their losses decline even as joblessness remains a major economic problem. The reason for this stark shift away from historical precedent is that […]
U.S. Federal Reserve governor Elizabeth Duke gave a speech at the Philadelphia Fed's payment cards center, in which she discussed the rising prevalence of debit card use as well as the declining amount of nationwide credit card debt, according to a report from Reuters. Duke said that debit card use has become increasingly popular as […]
There are several types of accounts available from a number of lenders that will allow consumers to rack up as much credit card debt as they want without imposing a limit on the expenditures, according to a report from the New York Times. For example, Visa Signature and World MasterCard accounts don't report a preset […]
Citi recently rolled out a slew of holiday programs, including one that will enter customers into a contest to win a prepaid card worth between $10 to $10,000 for every purchase they make that results in credit card debt before December 31, the company announced. However, to be eligible for this promotion, cardholders must first […]
Consumers have cut their total credit card debt significantly from the peak observed at the end of the third quarter of 2008, according to a report from Northern Trust. In total, balances have dropped by about $157 billion in the subsequent two years, to $2.41 trillion. Businesses and individuals alike have cut their credit card […]
One of the most familiar sights during the holidays is that of a Salvation Army volunteer ringing his or her bell next to the organization's famous red kettle in an attempt to drum up donations for the less fortunate. Now the charity organization is taking donating to the 21st century. Beginning this holiday season, it […]
Dwolla, a startup company in Iowa, has been testing a smartphone payment option for businesses and consumers alike, which may soon be rolled out to a national audience, according to a report in the Des Moines Register. The program allows Americans to pay not only retailers without taking on credit card debt, but also send […]
In an effort to avoid taking on any more credit card debt, many consumers are now using alternative payment methods, including debit and cash. A number of polls have recently found that consumers are so wary of credit card debt these days that they are either drastically reducing their use of these accounts or stopping […]
It's easy to get swept up in the gift-giving spirit at this time of year. During the holidays, even the most cost-conscious consumers can see their credit card debt quickly spiral out of control. A number of polls show that consumers, who in general are feeling better about their current finances than in the past, […]
Major names in the credit card industry, such as Visa and American Express, are expected to see big profits this holiday season, even as most consumers say they will make a greater effort not to take on credit card debt, according to a report from Reuters. For example, the report said while just a small […]