Published Monday, September 26, 2011 @ 7:24 am

Need signs that credit card companies are getting more aggressive with their credit card tactics and tricks? Well, there’s 346 million reasons from one particular credit card purveyor, Citigroup.

Based on a new report from The Wall Street Journal, in the third quarter alone, the bank mailed more than 346 million credit card offers to unwitting customers.…

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Published Tuesday, September 20, 2011 @ 8:03 am

For many recent graduates from colleges and universities all across the country, any job must feel better than no job at all. Shortly after graduation in May 2011, thousands of grads from Washington State to UNC-Wilmington, turned their back on student life and turned back on their computers only to begin their first official job searches—sending out e-mail-loads of resumes in what would become for many a months-long search for work….any work.…

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Published Wednesday, July 27, 2011 @ 6:49 pm

This week, Citigroup will launch a brand, spanking new credit card that purportedly carries with a trifecta of post-recessionary perks: no late fees, no penalty rates and a single interest rate for purchases, balance transfers and cash advances.

As reported by The Associated Press, Citi’s revamped “Simplicity card” sells itself as exactly that: it will be marketed to those who are “juggling busy schedules” and “want a credit card with simple terms.” In fact, Jud Linville, CEO of Citi Cards told the AP, “It lets them not have to worry that they’re going to be late on a payment.…

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Published Monday, July 4, 2011 @ 5:12 pm

With the rebound of the credit card industry in full swing for 2011, more and more credit cards are being made available to consumers—often via aggressive tactics—than in quite some time. And amid these plentiful offers for plastic there come enticing rewards of all types, with a litany of merits for the cautious consumer and just as many drawbacks for average Americans attempting to get out (and stay out) of debt.…

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Published Saturday, June 18, 2011 @ 7:47 am

These summer months are shaping up (again) to be tough times for recent college graduates. This latest round of job seekers continues to face high unemployment and mounting debt. So what happens when these poor economic conditions coincide with payment deadlines for sometimes astronomical educational loans? One word: defaults. In the end, this feeling of financial helplessness leaves many recent grads reeling, and rightfully so, in an economic climate may mean they will never be as successful or financially secure as their parents.…

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Published Sunday, May 29, 2011 @ 1:26 pm

Whether you’re considering bankruptcy or just coming out of it, you may be wondering the best ways to rebuild credit as soon as possible. Obviously, credit cards are one way to rebuild your credit history (and future) more quickly; but most people entering or exiting the bankruptcy process are well aware of the perils of plastic…and how difficult it can be to qualify for a card with a dinged credit past.…

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Published Monday, April 11, 2011 @ 3:27 pm

Becoming better with credit post-bankruptcy can be a daunting task for many clients. You’ve repaid or dissolved your existing debts, and are about to close your bankruptcy case with a new and improved outlook on your financial life. Unfortunately for many in your position, even well-intentioned Americans can return to their debt-full ways, even after the many lessons learned from their bankruptcy filing.…

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Published Sunday, March 27, 2011 @ 7:04 am

Just as average Americans are beginning to see more budgetary benefits from 2009′s landmark credit card protection legislation, the Credit CARD Act, they can also expect to see some not altogether unexpected side effects from their credit card providers: additional fees and higher rates.

In fact, while the CARD Act demands that card companies review customer files and lower rates where applicable to good payment history, according to a recent report from Marketplace’s Stacey Vanek Smith (of American Public Media), the changes can come at a cost.…

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Published Wednesday, February 2, 2011 @ 9:57 am

In the midst of millions riding the waves of the real estate reckoning, even more ordinary Americans are facing the rising tide of credit card APRs. In fact, according to new data, the average credit card interest rate has recently climbed to an all-time high, with averages hovering just below 15%.…

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Published Thursday, December 9, 2010 @ 8:19 am

There is no denying the power of association marketing. That is, the attachment, or association, of a brand to a particular public person or entity. We see it in sports, cars, alcohol, clothes, cell phones and just about any other sort of consumer you can imagine. And yes, credit cards have long used such tactics to lure consumers.…

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Published Tuesday, November 30, 2010 @ 4:25 pm

The credit card industry is changing. Some of the change is good, some of it may be bad. But the best news is, the credit card industry is changing.

It was recently reported that since the start of the year, eight million fewer people used a credit card.

There are not many industries that would be happy with losing eight million customers in only a year.…

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Published Monday, November 15, 2010 @ 10:51 am

You’re in credit card debt, often with a double-digit interest rates that can balloon over time into a monthly amount more than even your car payment. You may have sold (or lost) your home, but without much equity to go around, you have downsized with little to show for it. You’ve minimized the amount you contribute to your future—retirement, savings, investments—in the hopes of having more to pay down mounting bills.…

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Published Thursday, August 26, 2010 @ 11:41 am

Just a few years ago, home ownership was something available to just about anyone—an economic reality that to an extent, contributed to where we are today. Nevertheless, the mortgage boom helped a lot of people realize that benefits of home ownership. It’s simply too bad that it came with so many hidden financial pitfalls, many of which have subjected sub-prime borrowers (and also those with standard mortgages) to serious, long-term hardships.…

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Published Thursday, August 26, 2010 @ 9:27 am

Debtors attempting to avoid bankruptcy by waiting for housing prices (and equity) to increase may be waiting a long time. In fact, according to The New York Times, wealth-building via housing booms may have also gone the way of guaranteed pensions, free healthcare, and secure employment.

Per the NYT, “many real estate experts now believe that home ownership will never again yield rewards like those enjoyed in the second half of the 20th century, when houses not only provided shelter but also a plump nest egg.…

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Published Monday, August 9, 2010 @ 4:03 pm

Without insult, you should accept the fact that you read at a ninth grade level. It’s okay, four out of five adults do. It doesn’t mean you like the “Twillight” series, it means that the depth of your vocabulary and comprehension skills are at the most efficient level needed to succeed in today’s society.…

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Published Wednesday, July 7, 2010 @ 8:48 am

For most recent college and post-college graduates, the hot summer months are a chilly reminder that student loan repayment deadlines are mere months away. These impending debts arrive at some of the toughest economic times ever for the newest round of job seekers, as the nation, and especially its youngest workers, continue to face record unemployment and mounting consumer debt.…

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Published Friday, June 11, 2010 @ 10:10 am

The summer months are shaping up to be tough times for recent college graduates. This newest round of job seekers continues to face record unemployment and mounting consumer debt. So what happens when these poor economic conditions coincide with mandatory payback timelines for astronomic educational loans? One word: defaults. In fact, many recent grads will soon exceed the 270-day window for beginning paying back their student loan, triggering a default on their mounting student loans—loans that often have high interest rates.…

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Published Saturday, March 6, 2010 @ 8:59 am

Just when the credit card industry thought it was safe in Washington, Uncle Sam has decided to keep them over his knee for a few last good swats of discipline in the form of tighter regulations on late fees.

For many who struggle with credit cards, the problem is not always uncontrollable spending—it’s the fees.…

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Published Thursday, January 14, 2010 @ 11:34 am

It’s 2010, the year we take charge, so to speak, of our credit cards. In only a couple of months, credit card companies will have to fully abide by the provisions of the Credit Card Accountability, Responsibility and Disclosure Act (CARD). Some components of the act have already been in action.…

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Published Tuesday, September 29, 2009 @ 9:44 am

It has been a number of months since new laws were passed to address the aggressive marketing tactics of credit card companies and their downright crooked methods of making money through penalty fees and interest rate hikes. To date, even with some facets of the law intact, few consumers are realizing a positive impact.…

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Published Tuesday, July 21, 2009 @ 11:05 pm

Might we be witnessing the end of the credit card era? Possibly, if the word of several anti-charge card advocates continues to influence America like it has been. Making what these outspoken proponents of debt-free consumerism have to say even more relevant is the fact that America appears to skidding head first down an economic backslide that was built primarily on a foundation of easy credit.…

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Published Wednesday, July 15, 2009 @ 12:18 pm

The Associated Press is reporting that banks will soon start employing variable interest rate strategies on most credit cards. This means that the days of the fixed rate card are numbered.

It should come as no surprise to you, our loyal readers, that is in response to the federal government’s crackdown on sudden interest rate hikes, vague terminology relative to fees and an industry-wide, consumer-unfriendly marketing approach.…

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Published Friday, June 19, 2009 @ 11:06 pm

It’s important to remember that credit card issuers are businesses. While they may not necessarily sell a tangible product (other than a sleek piece of plastic) they are very much in the business of making money. Interest, clearly, is the primary profit generator. In the last several years, however, more marketing incentives and added services have come online to generate fee-based revenue for those how don’t spend much and therefore, don’t provide a great deal of interest income to the company.…

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Published Wednesday, June 17, 2009 @ 12:39 pm

No doubt about it: Times are tough.  You, like so many others, may be looking to grab onto any life-line you’ve got. For many of us, the only major investment we have is our home, so it’s not only a natural place to start, it might look like the only tool in the arsenal.…

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Published Tuesday, June 9, 2009 @ 2:08 pm

As a result of General Motors and Chrysler filing bankruptcy, thousands of dealerships across the country will be shutting the garage doors and deflating their obnoxious balloon animals and banners. But first, many of them will be liquidating cars at prices that, even for a car dealer, can be considered “Out of this World!”

So if you are on your way out of bankruptcy and the time has come to for a new ride, will you be able to get a car from a dealer?…

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Published Monday, June 1, 2009 @ 10:42 am

Filing bankruptcy is all about getting back to your feet, socially and financially. When it’s time to start rebuilding your credit history, one of the best ways to do so is through the use of a secured credit card.

A secured credit card is just like a regular credit card. The only difference is that instead of the bank granting you credit, your credit line is based on an actual cash deposit you put into a savings account.…

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Published Sunday, May 31, 2009 @ 6:49 pm

The decision to file bankruptcy is more often than not driven by your willingness to accept the fact that you need help. Chances are, you are fully aware of the practical reasons: late bills, consistent calls by creditors, job loss, unseen medical expenses, stress, denied credit. However, getting over the psychological barriers can be the most difficult corner to turn in a person’s road to financial recovery.…

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Published Tuesday, May 19, 2009 @ 10:46 am

Recent credit card legislation may prove to be a big relief for many Americans who have trouble keeping up with the rapid interest rate changes, hidden fees and aggressive collection efforts. Or not.

Many industry watchdogs believe the bill, currently alive in both a Senate and House edition, will not meet its original expectations.…

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Published Friday, May 1, 2009 @ 9:10 pm

On the eve of success for a very valuable piece of legislation that will instill a new set of guidelines for credit card companies’ communication of interest rate hikes, fees and other monetary stipulations to consumers, a banking bill provision aimed to do similar justice for Americans struggling with mortgage debt and bankruptcy was shot down in the Senate on the last day of April.…

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