Authors

Curtis Arnold
Curtis Arnold, Editor-in-Chief
Joe Taylor
Joe Taylor Jr., Reporter
Amber Stubbs
Amber Stubbs, Managing Editor

Credit Card Interest Fees

  • When (and how) to ask for a lower interest rate

    Even though we're experiencing some of the lowest credit card APRs from the past few decades, you might still be able to save money on finance charges by asking the right question at the right time. Despite competition among banks, it's not always easy to qualify for a balance transfer offer. Besides, you might love [...]

  • CARD Act may have cost consumers billions

    Back in 2009, the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act was signed to great fanfare, with the White House lauding it as a "turning point for American consumers." The question is, which way have things turned for consumers? By at least one measure, the CARD Act may have been a multi-billion dollar turn [...]

  • Follow the money: what happens when you swipe your card

    Credit cards aren't magic, but they can seem like it. After all, one minute, you have nothing in your hands, and then the next, simply by waving a piece of plastic (which might as well be a wand), presto! you suddenly own something you didn't previously have. And for many shoppers, the way credit cards make [...]

  • Starve a bank, feed your pocket

    In 2010, Bank of America reported revenues of over $25.5 billion from their global card services business, of which nearly $18 billion, or about 70 percent, came from interest. That percentage has remained fairly consistent in the credit card industry over the past decade. A year earlier, in the last two quarters of 2009, Capital One [...]

  • Some credit cards put foreign transaction fees on vacation

    As any vacationer or business traveler knows, going on a trip to a distant land doesn't just mean packing away sunscreen, making sure you have enough batteries for the digital camera and daydreaming of sun-dripped days in Monaco or walking along the Seine in Paris. There are also mundane matters to consider, like what's the best [...]

  • Credit CARD Act Guide Part 2: Understanding Rate, Fee, and Clarity Changes

    American credit card customers enter a new era on February 22, 2010. That date marks the full enactment of the Credit CARD Act signed into law the previous spring. Bolstered by populist backlash against "bailed out" banks, lawmakers drafted some of the boldest, strictest regulations ever imposed on private lenders. New Rules Ban "Unfair" Credit [...]

  • Six Ways the Credit CARD Act Could Cost You Big Bucks

    When lawmakers proposed tightening banking regulations to help protect credit card users, most consumers cheered the decision. However, by shifting profit centers away from interest rates and penalty fees, many banks have resorted to raising costs for all of their customers. Avoid Inactivity Fees by Making Routine Credit Card Purchases For years, many card issuers have [...]

  • Been Rate Jacked? 3 Ways to Stand Up to Your Double Crossing Credit Card Issuer

    Credit card rate hikes have become a popular strategy for lenders who want to purge their portfolios of less profitable accounts. New federal credit card regulations give consumers the power to reject a credit card rate increase, but only at the expense of an active credit line. "Freezing" a credit line to lock in favorable [...]

  • Historical Credit Card APR Averages

    Changes 12/31/2007 - 10/5/2009: 2009-10-05.......13.73% 2009-09-05.......13.71% 2009-06-05.......13.72% 2009-05-05.......13.59% 2009-04-05.......13.57% 2009-03-05.......13.63% 2009-02-05.......13.67% 2009-01-05.......13.75% 2008-12-19.......13.75% 2008-11-30.......13.80% 2008-09-30.......13.77% 2008-07-30.......13.81% 2008-02-28.......14.36% 2007-12-31.......14.82%

  • Using Online Credit Card Calculators as a Personal Finance Tool

    The Web has greatly enhanced the availability of helpful resources pertaining to personal finance. Online financial calculators are a perfect example of how the Web is aiding consumers in making wise choices about credit. Online calculators are becoming increasingly popular financial tools and, while calculators are quite "user-friendly", there are some tips that consumers should consider [...]

  • Risk, Not Law, Cause for Rising Credit Card Rates

    Rising credit card interest rates have captured the media's attention over the past few months. Even for Americans whose credit scores have not been impacted by the nation's financial crisis, sudden credit card rate hikes have caused concern. Some pundits argued that increased industry regulation could force all cardholders to pay more for their plastic. [...]

  • How Your Credit Card Interest Rate Can Go Through the Roof for No Apparent Reason

    Most consumers know that your credit score affects the credit card rates that you are eligible for. What you may not know is that if your credit score is lowered, then the interest rates on existing credit card debt could increase significantly. How? Universal Default. It's not a phrase that most are familiar with, and it's certainly [...]

  • How to Save 1000s of $$$ with Low Interest Rate Credit Cards

    Credit card balances are rising faster than consumers can pay them off. And with a high interest rate card it can be difficult to even make a dent in debt. According to Consumer Action, a non-profit, membership-based organization, a March 2004 survey revealed that only 39% of the people said they pay their credit card [...]

  • Fixed Rate vs. Variable Rate Cards

    Rising interest rates have become the focal point of many recent conversations about credit cards. For consumers who carry a balance on their credit card(s), such conversations are often filled with disgust, anger, and confusion. You may be wondering why credit card rates are rising and what, if anything, that you can do to avoid [...]