Maintain the Best Rates and Credit Scores

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Lowering the Credit-Card Limits

It’s not just your portfolio that may be shrinking during these turbulent times. The spending limit on your credit card may be heading south as well.
Credit-card issuers have been decreasing credit limits in the wake of the subprime meltdown. Folks with good credit scores and solid credit histories are now getting caught in the fray.
“Most [...]

Credit Card Rules Must Change

If you want an idea of how angry consumers are at credit card companies, get a load of the complaints e-mailed to the Federal Reserve about efforts to prohibit unfair practices by credit card companies. “I have been the victim of credit card companies who have subjectively raised my interest rates,” said Jon C. Kubic [...]

Frugality to remake the U.S. economy and American life — Part III.

Refills. Retailers are doing what they can to woo these new, economy-minded consumers. In April, Starbucks began offering new rewards on its stored-value cards, including free refills on hot and iced brewed coffee and complimentary syrup and soy milk. “This was an opportunity…to show Starbucks can be a part of people’s lives even when budgets [...]

Frugality to remake the U.S. economy and American life — Part II.

Examples of the mind-set shift abound. Large-vehicle sales declined 5.5 percent during the first six months of 2008, while compact-car sales rose 33 percent, according to J. D. Power & Associates. Piaggio, the company that makes Vespas, reports that scooter sales in June were up 146 percent over a year earlier. Even daily lattes have [...]

Frugality to remake the U.S. economy and American life — Part I.

When it comes to longevity, few royals can top America’s King Consumer. For more than four decades, our shopaholic nation has shown an insatiable desire to spend until our credit cards melt. And throughout this era, consumer spending has, well, consumed a greater and greater share of our total economy. Only twice since 1965, despite [...]

Credit Card Asset Quality Deteriorating

NEW YORK — Fitch Ratings said today that as we approach the midpoint of 2008, a weakened U.S. economy continues to exert pressure on the consumer, as observed through the continued deterioration of credit card portfolio performance. Issuer credit losses have approached, and in some cases surpassed, five-year historical averages and many management teams are [...]

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