Five Nasty Credit Card Surprises
That plastic in your wallet could be burning a hole in your pocket, especially if you get snared by some of the credit card industry’s sneakier practices. Congress is weighing whether to make some of these charges and interest rate methods illegal, but in the meantime, here are five pitfalls to watch out for:
Universal pain. [...]
Credit card defaults keep rising
Inability of cardholders to pay up could be due to recent subprime mortgage market crisis, newspaper says.
American consumers are defaulting on their credit cards at a sharply higher rate compared to last year, in what could be another consequence of the recent subprime mortgage market crisis, according to a report published Tuesday.
Give Your Careless Teen Some Credit
Every high school senior needs a brand-new, red hot, supercharged Mustang convertible and a credit card.
Catch your breath, parents. I’m kidding about the car. But you’re not off the hook, because I’m not kidding about the credit card.
Watch those credit cards!
No, that’s not your spouse (or even your accountant) talking. Rather, it’s an admonition that may be a useful guide to navigating a treacherous stock market this fall — the time that has historically been less than an auspicious season for stocks … and this one looks particularly dicey.
Credit Card Defaults Mounting
With more Americans filing for bankruptcy again after last year’s hiatus, credit card default rates are spiking.
Though the percentage of payments being written off as uncollectable isn’t as high as it was a couple years ago, the conditions are ripe for it to catch up. Bankruptcy filings keep pouring in, home prices continue to fall [...]
Credit card firms could take hit if economy dips
U.S. credit card companies may have sidestepped the problems plaguing the mortgage industry so far, but they’re likely to face higher losses if the economy dips into a recession this year.
Americans are still mostly paying off their credit cards, despite being hit by falling housing prices and tighter mortgage lending conditions, but analysts say they [...]
Latest Phishing Scam
The Internal Revenue Service is trying to be more customer-friendly, but it’s not going to pay you for your feedback. The latest phishing scam starts with an e-mail masquerading as a request from the IRS to take an online customer satisfaction survey.
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