Category Archives: Credit Card

Credit Mistakes Millennials Make

Since most millennials do not receive a crash course regarding their finances before opening their first credit account, many in the generation make mistakes that damage their credit scores. As their financial lives progress, credit scores will play a predominant … Continue reading

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U.S. Consumer Credit Showing Signs of Weakness

Many consumers throughout the U.S. are starting to default on their auto loans, according to Bloomberg. In the past year, more people went into default as they struggle with rising interest rates on credit cards and other revolving accounts. Some … Continue reading

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Credit-Default Rates Hit Their Highest Mark in 4 Years

The default rate on credit cards hit a 4-year high, according to data from Experian and the S&P Dow Jones Indices. The default rates also rose for a fifth consecutive month as interest rates continue to spike in the first … Continue reading

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Card Defaults Surge at Capital One and Discover

Discover and Capital One, two of the nation’s biggest credit-card issuers, saw some of the largest write-offs in their lending divisions in nearly six years. Shares of Capital One fell almost 2.9 percent on the news the company’s charge-off rate … Continue reading

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How Does Opening A New Credit Account Affect Your Credit Score?

Your credit history is one of the factors that will determine how your credit score will be impacted by a new credit account. Ten percent of your credit score is determined by new accounts. When you open a new credit … Continue reading

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Credit Card Debt Rises Above Pre-Recession Levels

Credit-card debt is on the rise as more Americans are racking up hefty bills at levels not seen since before the Great Recession. As of 2016, the average credit card debt in America is $16,061, which is up 10 percent … Continue reading

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Fed Increases Target Rate Again- How it Will Impact Consumers

The Federal Reserve announced another increase in the Fed Funds rate last month, which is the overnight interest rate banks charge each other for overnight borrowing. The increase signals an attempt by the Fed to slow the current growth of … Continue reading

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Senior Citizens See Increase in Debt

One of the most significant initial concerns that people across the country share is rising amount of credit card debt. While this used to be considered only a problem of the young, it now appears that it is also a … Continue reading

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Things You Should Never Put On Your Credit Card

There are many benefits that can be reaped from using a credit card. You can earn rewards and build your credit. However, there are a few things that you should never put on your credit card. You should not pay … Continue reading

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Good Credit Card Habits to Start Now

Research shows that credit card users tend to spend more than individuals who use cash. However, the use of credit cards comes with benefits such as more consumer protection compared to debit cards or cash and plenty of rewards. Incorporating … Continue reading

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