Posts Tagged 'Credit Card'

Holiday Credit Card Spending 2011

The final numbers and statistics for holiday credit card spending in 2011 aren’t in yet but retailers tracking purchases claim it was a stronger showing than last year and online spending fueled the numbers favorably. Many consumers waited until as close to Christmas as possible, intending to cash in on the lowered pricing by retailers attempting to grab the largest share of spending by luring those last minute shoppers.With Cyber Monday becoming Cyber Week, consumers took advantage of special discounts and offers made available by purchasing online and by using mobile devices to “cash in” on some of the specials and shop smarter this year.

An American Express study released 11/7/2011 showed consumers were intending to increase spending 17% as compared to last year. T

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Jan 15, 2012 No Comments by Alice Galvin
Tags: 2011 Card Spending Credit Card Credit Card Spending

Preparing for your credit card statement.

A recent study by Visa found that one in five of us plan to fund this Christmas on credit cards, meaning many will be expecting the bill to drop of their door step any day now.

If you are one of those people, then we are urging you not to panic and follow these simples steps to make sure it doesnt get the better of you.

Jan 07, 2012 No Comments by Erin Donnithorne
Tags: Card Credit Card

Credit Card Debt – How to Answer a Summons For Credit Card Debt

There are many persons who are more interested in finding out whether the summons has been issued from the court of law or whether it has been issued by the credit card issuer. To tell you the truth, it does not make any difference whatsoever.

Irrespective of whether the summons has come from the issuer or not, you will have to answer it. The simplest reason why you will have to answer it is because non-answering will put you in a position where the credit card issuer can go to the court to seek action against you.

On the other hand, if you answer the summons, chances are high that you can come up at a reasonable negotiation point where both the parties can work together. However, you cannot just walk in to the credit card issuer’s office and expect the company to suggest the solution.

It is obvious that you have been summoned because you are not repaying the debt on time. W

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Nov 21, 2011 No Comments by Jamie Zeal
Tags: Card Credit Card

How Credit Card Debt Can Actually Help Your Credit Score

Its the most common form of debt. One in ten consumers has an average of $6,400 spread out over six credit cards, according to the latest Credit Karma data.

Each month, we pay our banks and creditorsusually plus interestfor money weve spent on credit cards. And how we pay our debts back is a huge factor in our credit score.

When it comes time to borrow more credit, your credit score can influence a thumbs up or thumbs down on your application from creditors. The formula goes something like this:

Managing debt well = better credit = more likely to receive more credit (i.e.

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Nov 04, 2011 No Comments by Jamie Zeal
Tags: Credit Credit Card

Festival of Frugality #299 – Money Saving Tips, Credit Card Advice & More!

This week Credit Karma is proud to host the Festival of Frugality, which celebrates the great frugal knowledge flying around the blogosphere. This festival gives bloggers an opportunity to contribute their best tips on saving money, or advice and commentary on living frugally.

Here are some of the top picks for this week’s festival from a variety of different topics… enjoy!

Money saving tips

Editors Pick: Kyle James presents 3 Quick & Obscenely Easy Money Saving Tips posted at Rather-Be-Shopping.com.

Credit card advice

Editor’s Pick: Andrew presents History of Credit Cards posted at CreditDonkey.

Frugal living

Editor’s pick: Crystal presents Preparing for the Inevitable posted at Budgeting in the Fun Stuff.

Personal finance commentary

Editor’s pick: John presents College and Future Earnings: What’s the Connection? posted at W

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Nov 02, 2011 No Comments by Alice Galvin
Tags: Credit Credit Card

Credit Card Late Payments on the Rise

Last month, five out of the top six credit card lenders raised their late payment fees, as reported by ABC news. The cause? An rise of debtors who are failing to pay their bills on time. Late payments of 30 days or more have increased, and this is the first time its been a problem since February 2009.

While the late payments increased, it was all below full percentage points. The biggest increase in late payments was from Capital One, whose delinquency rate raised from 3.43 percent to 3.65 percent in September. American Express saw their 1.4 percent rise to 1.5 percent delinquency, to name a few.

If youre someone struggling to pay your credit card bills on time, you should seek out financial assistance immediately. As some economists predict the possibility of another recession, its vital that you get a grip on your finances as soon as possible. Cont

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Oct 24, 2011 No Comments by Alice Galvin
Tags: Credit Card Late Payments Rise

Credit Card Debt Rises

After seeing declines in the balances held by consumers in 2009 and 2010, credit card companies have been seeing increased balances in 2011. The increases are well above 2010 levels and are expected to continue to rise. Thanks to the CARD Act legislation being fully enacted, credit card companies have a very sound idea of what the rules are for lending, and what they will be for the next few years.

The holiday season coming will likely lead to increased spending from consumers, helping the economy move slowly towards a recovery. It also will add to the outstanding debt balance that lenders are carrying.

Credit card lenders have been more willing to lend to consumers and have eased standards. Following the 2008 recession, along with the CARD Act passing, credit card lenders tightened their lending standards.

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Oct 10, 2011 No Comments by Alice Galvin
Tags: Card Credit Card

Choosing the right Company Credit Card for your small business

When beginning a business venture, there are many expenses both foreseen and unforeseen that may arise. These expenditures are usually funded by a small business credit card chosen by the business owner. In fact, many small business owners tend to rely heavily on their company cards for most of the financial needs of their business. Choosing the right company card can assist in maintain the financial health of one’s company and assist in warding off debt. There are a few key features to look for when choosing the right company credit card.

One of the most important features to compare when choosing a company credit card is the interest rate. Attractive additional features such as frequent flier miles, discounts and other popular features may seem appealing in the short term. H

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Jun 21, 2011 No Comments by Erin Donnithorne
Tags: Business Credit Card Small Business
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