By admin, on June 16th, 2009%
A Reuters article yesterday shows that credit card defaults hit record levels in May. The rate of credit card losses was 9.4%. Delinquency rates were down, but of course they were down a large portion of them moved from delinquent to a default status
As unemployment keeps going up then delinquencies will keep going up. This is . . . → Read More: Credit Card delinquencies increasing
By admin, on June 9th, 2009%
Thanks to this new credit card bill I have already started receiving new term sheets for my existing credit cards. So I have begun looking around for some replacement cards with better terms or better rewards.
I am having a hard time finding a new card with any decent rewards or cash back plan that also has . . . → Read More: Credit Card benefits changing
By Don, on May 27th, 2009%
The federal government and the Federal Reserve may be coming to a realization that the deficits we are running are going to cost a lot more than previously anticipated. The 10-year Treasury bond today hit 3.70%.
Rates on the 10 year have gone from 3.20% o 3.70% in the last 5 days and up from 2.92% over . . . → Read More: Bond rates on the rise may signal inflation
By Don, on May 20th, 2009%
A new bill passed the House of Representatives today after it made it out of the Senate yesterday. The bill is designed to provide some protection to credit card holders. The bill is scheduled to take effect in February of 2010.
Some of the highlights of the new bill are listed below.
Banks cannot raise your interest . . . → Read More: New Credit Card Consumer Protection Bill
By Don, on May 12th, 2009%
This may not be good news to parents out there, but Discover has introduced a prepaid debit card available for teenagers that has some added features that may appeal to parents as well.
Features
Set daily, weekly, and monthly spending limits
Restrict teen card use in unwanted shopping categories (e.g. liquor stores, tobacco stores, . . . → Read More: Discover Current Card
By admin, on May 11th, 2009%
Today the White House released new deficit projections stating that the government will borrow 50 cents for every dollar it spends this year and the deficit for this year will be approximately $1.8 trillion. This is almost 4 times the deficit in 2008.
Is it any wonder that the American people have gone around spending more than . . . → Read More: Bad example
By Don, on April 26th, 2009%
The role of credit in the economy is to allow a company to purchase assets that will provide a return in excess of the cost of credit. So you would use credit to purchase either inventory that you could make into a part or a machine to make more parts in a shorter amount of time. . . . → Read More: Role of Credit
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