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The Latest News about Credit Cards

Alaska, Connecticut Hold Highest Average Credit Card Balances; Iowa and Wisconsin Lowest

An Austin, Texas company released a study Wednesday that reveals which U.S. states hold the most credit card balances relative to the average incomes residents in those states earn. The Upgraded Points study underscores that an average 41.2 percent of Americans do not pay off their balances in full each month. Upgraded Points used the data compiled from each state ...

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43 Percent of Americans Changed How They Pay for Gasoline Because of ‘Skimming’ Concerns

gasoline-shortages-in-north-carolina

A survey released showed how Americans are reacting to the growing threat of gas skimming, where criminals implant devices on or in gas station fuel pumps with the intent of stealing the credit card information of unwitting customers. Gas skimming is a growing threat to consumers at the gas pump — so much so that it has made an impact ...

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Credit Card Rewards Battle Continues as Customers Seek Better Programs

As credit card customers drive up credit card debt to an all-time high, more of them are switching cards for a better rewards program, according to the J.D. Power 2018 Credit Card Satisfaction Study, released today. The study finds that 47% of credit card customers who switched to a new card within the past 12 months did so for a better ...

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Consumers and the Federal Government continue spending on credit

Credit cards

Consumers and the Federal Government continue to increase debt due to spending according to a new report out Wednesday. Revolving debt, almost all of which is consumer credit card debt, increased by more than $16 billion in May, according to Lending Tree’s Consumer Debt Outlook for July 2018. That’s the largest-ever increase in revolving credit for that calendar month and the largest percentage increase ...

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Household Debt to Surpass 2008 Peak by $1 Trillion

A report released Thursday finds that American household debt is currently on pace to exceed the prior peak debt level from 2008 by the end of June, primarily due to non-mortgage consumer debt. LendingTree’s Consumer Debt Outlook for June 2018, an anlysis of the latest Federal Reserve data, found that mortgage-related household debt has actually fallen by 5.5 percent while total consumer credit – a ...

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Credit card holders leave travel rewards on the table

Credit card holders don’t take advantage of their travel rewards, according to U.S. News & World Report, the global authority in rankings and consumer advice. In its most recent survey of travel credit card users, U.S. News found that nearly half of respondents did not take advantage of common cardholder benefits such as airport lounge access, trip cancellation and delay insurance, free ...

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Many Rewards Credit Card Holders Don’t Shop Around

Many consumers don’t do their research when it comes to credit cards, according to U.S. News & World Report, the global authority in rankings and consumer advice. In its most recent survey of credit card holders, U.S. News found that nearly half of respondents didn’t research their card before signing up. Further, more than 50 percent of those surveyed don’t regularly shop ...

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Report: Credit Unions have best fee structures

Credit cards

A report was released today that compared the fees of a representative sample of 200 credit cards that are in Americans’ wallets. Although every card included in the CompareCards by LendingTree study had at least one fee, there remains a wide variance among credit cards in the types of fees card issuers impose on customers. The representative sample of 200 cards approximates the card ...

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Tips to Help You Get Out of a Debt Trap

Credit cards

A huge number of people these days find themselves trapped in an unenviable position purely due to the level of debt they are in. Debt can have a huge negative impact on your life, leaving you unable to do the things you want and in some cases unable to cope with day to day requirements such as buying food or ...

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4 Tips on Improving Your Credit Score

Credit cards

Acquiring things in life will take a lot of work. When the time comes to buy a home or a car, you will need to find a way to get approved for a loan. The first thing a lender will look at when trying to decide on whether or not to give you a loan is your credit report. If ...

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Good News? You can now buy airline tickets with monthly payments

Creidt cards

As adamant disciples of a debt-free life, we can’t promote paying for airline tickets at up to 30% interest, but, if you’re just silly enough to do it – here’s how. CheapAir.com has teamed up with financial services company Affirm to allow fliers to take out three, six and 12-month purchase plans to cover their airfare. In an emergency, there ...

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Bank Card Defaults Soar to Five Year High

Credit cards

Released today, the S&P/Experian Consumer Credit Default Indices showed the largest two-month increase in the rate at which consumers are defaulting on credit card debt since 2010. The bank card default rate increased 15 basis points to 2.99% following an increase of 23 basis points in February, the largest two month increase since April 2010. Slowing retail sales in March, lackluster ...

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