A new study has found that the number of times a consumer uses their debit card to make a purchase every month, and how much they spend on them, is closely related to their credit score. According to a study from MasterCard, which also cited third-party findings from Lightspeed Research, the lower a consumer’s credit […]
While they look the same, and many cards bear the logos of major lenders, there is a huge difference between credit cards and charge cards. Despite their cosmetic similarities, a charge card works in an entirely different way from their credit counterparts. According to a report on the consumer advice website Mint Life, they don’t […]
An increase in consumer spending – not by volume but rather in the value of the things they bought – helped MasterCard post large profits in the second quarter. The company, which processes a large percentage of all credit card transactions in the U.S., said that profits rose 31 percent between April and June of […]
With the downturn of our economy, many Americans are finding themselves in a constant battle with a never-ending mound of debt. Pay cuts, reduced hours, lay-offs, medical bills these are just a few reasons why many Americans have turned to rely on credit cards to make ends meet. Drowning in a pool of late payments, […]
Because it has been hemorrhaging money for months, the Federal Housing Authority announced it will begin to institute a minimum credit score for the homes it insures. According to a report in the Wasington Post, the FHA will no longer insure mortgages for consumers who have faced credit problems and have a rating of less […]
Credit card issuers have lost out on millions in profits as a result of the laws put in place by the Credit Card Accountability, Responsibility and Disclosure Act, which prohibited practices deemed excessive and harmful to consumers. According to a report in the Dallas Morning News, however, those companies have made up some of those […]
Many consumers are deeply in debt and probably wondering how they can reduce their debt fast, especially those that are struggling to keep current with their monthly bills. Although bankruptcy is an idea that oftencomes to the minds of most consumers first, it is far from being the easiest or the quickest way to reduce […]
Many consumers may have found themselves falling deeper into debt with a handful of creditors over the last few years, and a growing number are looking for ways to find some debt management relief. Fortunately, there are a number of ways for consumers looking for debt management relief to approach the problem. One common option […]
As the recent recession lags on, consumers are finding it harder to make ends meet, and many may have had to take on additional debt through credit cards and personal loans. In doing so, some have seen their monthly payment obligations grow quickly out of their control and have found themselves ina very difficult financial […]
Many consumers across the country are struggling with their large monthly payment obligations, and are having difficulties even affording the necessities they require to live comfortably. Some are unable to continue to pay their bills on time and are falling behind on their payments for their unsecured debt. For many consumers, the most difficult types […]