New Credit Card Rules are in Effect – More Changes to Come in February
It was signed into law last May 22 by President Obama but the Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 officially went into effect last August 20. And that's just the first phase of it.
Take Out A HELOC Before You Get the Pink Slip
Now more than ever, most households are having a harder time making ends meet.
Chase, United Airlines Launch Three New Premium Credit Cards
Announced last week, United and Chase Card Services, a division of JPMorgan Chase & Co, has launched three new credit cards designed for today's busy, sophisticated travelers.
Choosing the Right Credit Card
Credit cards offer people the power to purchase almost anything without having to deal out large amounts of cash. Credit card spending is, at times, tricky and wrong decisions could leave you with huge debts and interest payments.
Having Trouble Paying Down Your Credit Card? Make Your Bank An Offer It Can’t Refuse
Attention all delinquent credit card holders! Now's the best time to settle your bill. If the financial industry and the auto industry had their respective bailouts late last year, this could be the time for ordinary consumers to be given some leeway in their debts, particularly credit card bills.
Obama Looks to Get Rid of “Fine Print” in Credit Cards
In response to consumers' growing frustration over skyrocketing credit card interest rates and hidden fees, Pres. Barack Obama vowed that he would come up with a credit card law that would protect consumers from the fine print that have become a source of anxiety and anger of credit card users.
Balance Transfer Fees: Should You Expect to Pay More?
Traditionally, the defaults on credit card debts rise or fall with the unemployment rate. With the unemployment now at 8.5 percent, the highest in more than two decades, credit card companies are suffering from a surge in defaults. Bank of America, for example, has $182 billion in credit card loans as of December 31, 2008. From this figure, the bank had to write off $11.4 worth of balances.
Ballooning Credit Card Debt to Further Compound Bank Woes
The mortgage crisis may not be a thing of the past but at least steps are already being taken to address the problem. But while that is being done, yet another seemingly smaller in value but equally serious financial catastrophe looms ahead: credit card debt. Yes, the numbers were bad in 2008, but financial analysts are forewarning of an even worse 2009.
The List of Failed Banks Has Grown, But the Worst May Be Over
There is a lot of talk in mainstream media about failed banks, so we went directly to the source--the FDIC, to find out the full story. Here, you can see clearly that last year, 26 banks failed in total. As you can see from the chart there was very little activity in the first half of the year, then bank failures steadily increased from July through December.
(Nearly) Recession-Proof Credit Card Rates
Credit card interest rates below 10% are in short supply these days, but quite a few still offer rates below the national average of 14.90%, including the trio of options we’ve listed below. Keep in mind, however, that you’ll probably need a credit score of 700+ in order to qualify for the lowest rates.
Merrill Lynch, Morgan Stanley Battle Independent Brokerages For Wealthy Investors
U.S. Bank Acquires FBOP Corporation’s 9 Failed Banking Subsidiaries
Assessing the Impact of the FDIC’s Temporary Liquidity Guarantee Program
FDIC Chairman Shelia Bair on The State of American Banking – Summary and Analysis
Citibank Credit Card Interest Skyrockets In Anticipation of Federal Regulation
Commerce Bank of Southwest Florida Fails, Becomes 123 Bank to Close in 2009
ING Direct Black Friday Special: Save ‘Til You Drop
Savers Left With Fewer Options as Hudson City Savings Lowers Top CD Rates
Wells Fargo Settles $1.4 Billion Lawsuit Regarding Auction-Rate Securities
‘Too Big To Fail’ Firms May Be Broken Down To Smaller Size
