Credit Card Issuers Fight Back
Credit card issuers have been hit hard, very hard by a number of things that has rocked the industry. First and foremost is the recession. The credit card industry goes as the economy goes.
The industry rises and falls nearly in lockstep with the unemployment rate and right now the unemployment rate across the country is [...]
Credit Card Issuers Raise Rates
You’ll get no mercy from the credit card companies. As part of a continuing trend credit card issuers are raising interest rates on cardholders in spite of the fact that the Federal Reserve is purposely keeping the prime rate low in an attempt to stimulate the economy.
Usually, and granted this is an exceptionally poor time [...]
Default Rates of Credit Card Issuers
Predictably, the financial crisis that we seemingly have weathered has hit credit card issuers especially hard. American Express, Discover, Capital One and Bank of America offer a window into how bad the economy was and charts a course for its improvement.
The giant credit card processors Visa and MasterCard make their money by charging a fee [...]
Consumers Grow Increasingly Less Satisfied with Credit Card Companies
A survey that was recently conducted by highly respected JD Power and Associates reveals something that I’ll bet you’re not going to be too surprised with. Most especially in these tough economic times.
The survey revealed that more and more credit card account holders are becoming dissatisfied with their credit card company. And as their personal [...]
Credit Card Offers Signify an Economic Recovery
There was some very good news reported last week for our economy and most people probably missed it. There may very well be an economic recovery happening right now and the evidence of that could be in your mailbox.
I’m speaking of the number of credit card solicitations sent out by credit card companies to consumers. [...]
The Future of the Credit Card Industry
Major credit card issuers are now scrambling to rethink their business models in light of the recent passage of the Credit Card Reform Act legislation. This legislation will bring huge changes in the way that the credit card issuers profit. Because the credit card companies are so reliant upon charging high interest rates and fees, [...]
What Credit Means to Us
Credit cards are certainly making a great many headlines in the news these days. First it was the Federal Reserve, then Congress and now President Obama are all weighing in on credit card reform. We have written many posts on the subject so please feel free to check some of the prior entries if you [...]
Balance Transfer Fees Are Going Up
It wasn’t too long ago that we were absolutely inundated with balance transfer credit card offers. It seemed as if we couldn’t turn around without seeing the latest and greatest balance transfer deals.
Well, I’m sure I don’t need to tell you that those days are long over with. The current credit crisis effectively put an [...]
Know Your Rights As A Credit Card Holder
While Congress works on the newly proposed “credit card bill of rights“, I felt it was important that I share with you exactly what your rights as a credit card customer entail. After all, it will probably be months before Congress draws up this new bill.
Many cardholders have expressed everything from minor frustration to deep [...]
Tips For Negotiating Credit Card Terms
I thought it might be helpful to some of our readers if we laid out some tactful tips for successfully negotiating better credit card terms with their respective credit card companies. And yes, in case you didn’t know, you can negotiate a better deal with your credit card providers.
No matter what the issue at hand [...]