Credit Card Balances, Accounts & Delinquencies All Decline
The new Quarterly Report on Household Debt and Credit, published by Federal Reserve's Bank of New York, shows that credit card balances, delinquencies and number of accounts all showed declines in the...
View ArticleLowCards.com Weekly Credit Card Update–March 8, 2013
Young Adults Retreat From Piling Up Debt Total debt among young adults dropped in the last decade to the lowest level in 15 years. A typical young U.S. household, defined as one led by someone under...
View ArticleHow Fast Can You Raise Your Credit Score?
In the modern world, speed is everything. We drive fast cars on fast highways while our fast phones access a fast internet connection. There is no time to waste. Many people apply this same theory to...
View ArticleHow Do Credit Card Companies Calculate the Minimum Payment?
When people get their first credit cards, one of the most frequently asked questions is "How do credit cards calculate the minimum payment?" This is the amount of money you have to pay if you have a...
View ArticleCommon Mistakes for First Time Credit Card Customers
Being approved for your first credit card is a big financial step, but it can also lead you into a lot of debt if you are not financially responsible. It doesn't matter how old you are--you will most...
View ArticleChase Cancels Credit Card Insurance Plan
For years, Chase Bank has offered its cardholders a chance to get insurance on their credit card balances for an additional monthly fee, usually less than one 1% of their credit card balance. Users who...
View ArticleReduce Credit Card Debt with Micropayments
Holiday shopping is just around the corner, and consumers need to have their credit card balances as low as possible in order to avoid costly interest charges. One way to do this is to make...
View ArticleLowCards.com Weekly Credit Card Update–November 8, 2013
MasterCard 3rd-Quarter Net Rises 14% on Increased Purchases MasterCard said third-quarter earnings rose 14% as spending on its credit and debit cards continued to grow. MasterCard, like its larger...
View ArticleCredit Bureaus Now Classify Consumers as Transactors or Revolvers
Are you a "transactor" or a "revolver"? That's the question that all three credit bureaus are now asking when they assess credit. TransUnion, Equifax and Experian have all added features to their...
View ArticleMillennials Cutting Back on Credit Cards, But Struggle with Credit Scores
Millennials are carrying far fewer credit cards with smaller balances than older consumers but are still struggling with their credit scores and debt utilization. Experian’s Fourth Annual State of...
View ArticleLowCards.com Weekly Credit Card Update–April 18, 2014
States Probing Massive Data Breach of Social Security Numbers In what could be one of the biggest data breaches in history, the federal government and authorities in several states are investigating...
View ArticleLowCards.com Weekly Credit Card Update–May 2, 2014
After Data Breach, Target Plans to Issue More Secure Chip-and-PIN Cards Still pushing to right itself after an enormous data breach by cybercriminals, Target announced that it would switch its debit...
View ArticleAmericans Cut Credit Card Usage and Debt
The economic downturn of 2008 sent many Americans running to credit cards to help cover their bills. Now, six years later, credit card use is declining. According to a Gallup poll conducted in April,...
View ArticleChinese Consumers Using Credit Cards for “Shadow Banking”
If you need quick cash in China, you don't have to apply for a loan with the central bank. All you need is a credit card and a store willing to take part in a process called "shadow banking." China...
View ArticleLowCards.com Weekly Credit Card Update–May 16, 2014
Airlines Make Less on Bag Fees While Promoting Credit Cards Airlines made 4% less on baggage fees in 2013 than in the previous year, according to federal statistics released last week. That sounds like...
View ArticleDo You Want A Lower Credit Card Interest Rate? Then Just Ask!
High Credit Card Rates Aren’t Fun Ask anyone that is in debt and they’ll tell you—high interest rates are not fun. When it comes to credit cards, interest rates can be significantly higher than other...
View ArticleLarge Portion of Americans Are Clueless about Credit Scores
A recent survey shows that a large portion of Americans have very little idea how their credit scores are determined. Some key findings from the study, issued by the Consumer Federation of America and...
View ArticleCredit Card Payments May Take on New Role in Credit Scores
The country's three biggest credit bureaus may eventually change the way they calculate credit scores. The new system could be designed to give "transactors" better scores than "revolvers" for their...
View ArticlePaying Off Credit Card Debt–A Great “Investment” You Can Make
We all know that investing money is a good idea because it typically grows over time, leading to long-term profits. When someone says "investments," we usually think of stocks, bonds and mutual funds....
View ArticleLate Payments on Credit Cards Show Significant Decline
Overall credit card debt has dropped substantially since the recession several years ago. Consumers are carrying less of a balance on their credit card accounts. Cardholders are slowly shifting from...
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