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 [...]
Legislation, Interest / Fees
Debt Diet: Is Shedding Credit Card Debt Similar to Shedding Weight?
Jean Chatzky is the financial editor for the Today Show, a columnist for the New York Daily News, and author of six books, including Pay It Down. Jean has now created an online debt reduction program called Debt Diet Online. CardRatings.com reporter, Mike Killian, interviewed her to get the scoop on her new debt diet site.
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 [...]
Interest / Fees, Tips
Learn to Lower Your Credit Card Debt for Free!
Lynnette Khalfani-Cox, aka The Money Coach, is a well known motivational speaker who helps consumers tackle debt issues head, including credit card debt. In addition to her professional speaking engagements, Lynnette also offers non-sponsored, FREE seminars to churches and other organizations as a part of her Zero Debt Tour. The Zero Debt Tour is basically [...]
CardRatings.com Poll Finds Many Disagree with Law Restricting Credit to Students
A recent poll conducted by CardRatings.com found that a many consumers disapprove of the new law restricting credit for consumers under the age of 21. Of the 956 respondents, 313 poll takers -- or 33 percent -- felt the new law is unfair. One of the credit card industry's leading experts weighs in.
"Considering how polarizing the student [...]
Legislation, Polls, Student
Credit Card Canceled Without Notice? Fight Back!
Following a series of shuddering changes in the economy, credit card companies have gotten tough in dealing with consumers. For years, lenders thrived on credit card customers who couldn't make payments on time, and companies reeled in late payment penalties and interest charges. But too many consumers defaulted on their debt, and now credit card [...]
How Cards Work , Credit Card Help
Turbocharge Your Credit Card Rewards: Five Ways to Maximize Rebates
Maximizing credit card rewards in this environment of reward cutbacks is tricky at best. But here are a few tips that can help you leverage rewards no matter how bad the general market conditions are.
Reward Credit Card Tip #1: Follow the KISS Method (Keep it Simple Silly!)
When looking to maximize your card rewards, "keeping it [...]
How One Credit Card Issuer Made Decisions: Ability, Stability, and Willingness to Pay
Lending decisions vary from lender to lender. The purpose of this article is to offer some insight into how I thought about credit card and loan applications while I served as credit analyst for a major credit card issuer.
There is a lot of fuss surrounding FICO scores and credit scores in general. These scores need [...]
How Cards Work , Credit Card Companies
Are you in a money fog? The psychology of money and credit cards.
Karen McCall is a nationally recognized consultant, trainer, and speaker on effective money management and its role in overall financial and emotional stability. She is also founder and owner of the Financial Recovery Institutesm. Karen was recently approached regarding how psychology and consumer attitudes affect our use of credit cards.
Can you elaborate on how psychology [...]
It's Not too Late to Save this Summer by Using Rebate Credit Cards
Editor's Note: The informative exchange below was gathered during an interview with the founder of CardRatings.com Curtis Arnold. Arnold is the noted author of How You Can Profit from Credit Cards.
Fuel prices and a bumpy economy are troubling many summer travelers this year. That's why it's great to hear from Curtis Arnold, the founder of [...]
Gas Rewards , Rewards Cards