How One Credit Card Fee Actually Helps Consumers

Posted On: July 20, 2009

Lawmakers hoping to build on the positive feedback from the CARD Act could be making a mistake by targeting credit card merchant fees.

Benefits of Credit Cards often Trump the Convenience of Debit Cards

Posted On: July 13, 2009

Debit cards offer convenience and are becoming increasingly popular with consumers, but they still don’t offer many of the same benefits as credit cards do.

5 Hot Credit Card Offers for the Summer

Posted On: June 29, 2009

By Curtis Arnold, CardRatings.com Founder
Even though it seems like major banks have been rolling up the red carpet instead of rolling it out for new customers, I found a handful of money-saving deals for savvy credit card users. Even in the midst of the credit crunch, there are still some real jewels out there and [...]

Five Consumer Warnings Involving Reward Credit Cards

Posted On: June 12, 2009

By Curtis Arnold, CardRatings.com Founder
Nearly every card issuer that issues credit cards offers its customers a reward or rebate program. Rebate credit cards will reward you for making everyday purchases with your card. Rebate cards are very popular and when used in a wise manner, rewards cards can help improve your bottom line- who doesn’t [...]

Credit Card Reform Likely to Have Unintended Negative Consequences

Posted On: June 3, 2009

By Curtis Arnold, CardRatings.com Founder
If you carry a credit card, you should circle February 22, 2010 on your calendar. That’s the day when key provisions of the new credit card legislation take effect.
The state of the economy has already taken its toll on Americans’ credit scores. By the first quarter of 2009, TransUnion, a major [...]

Credit Card Accountability, Responsibility and Disclosure Act Passes Senate

Posted On: May 20, 2009

By Joe Taylor Jr., CardRatings.com ReporterFacing pressure from the White House and criticism from constituents, the Senate approved new credit card restrictions on Tuesday scheduled for enactment in February 2010. Among the changes to be enforced if Senate provisions become law:
• Credit card companies will be unable to raise interest rates on existing purchases until [...]

Popular American Express Credit Card Drops Most Rebates to 1.25%

Posted On: May 18, 2009

By Curtis Arnold, Founder of CardRatings.comA tough economy makes it harder to find great cash rewards in credit cards. The American Express Blue Cash Credit Card has been the favorite card in my wallet for several years. This credit card offered a 1.5% cash rebate on most of my purchases, and it punched the bonus [...]

Obama’s Credit Card Reform Pledge on Thursday’s Agenda

Posted On: April 23, 2009

By Joe Taylor Jr., CardRatings.com ReporterCredit card reform tops the agenda at a meeting of banking executives at the White House on Thursday. Treasury officials originally planned the event as a discussion about pending credit card legislation. However, the meeting made front page news when White House officials announced that President Obama will personally address [...]

The Truth About Credit Card Debt Settlement (Part 3)

Posted On: April 21, 2009

By Curtis Arnold, CardRatings.com Reporter
Editor’s Note: This article is the third of a three-part series about debt settlement.
Taxes and Settlement
The IRS classifies forgiven debt as income. (That’s true even if the settled amount included interest or penalty fees.) If you owe $10,000 and settle for $6,000, the difference is considered to be taxable income. This [...]

The Truth About Credit Card Debt Settlement (Part 2)

Posted On: April 16, 2009

By Curtis Arnold, CardRatings.com Reporter

Editor’s Note: This article is the second of a three-part series about debt settlement.
How is Settlement Different Than Credit Counseling?
Credit counseling and debt settlement are two completely different approaches. Most credit card companies work with credit counseling agencies. They will often encourage consumers who are having trouble paying their bills [...]