Mastercard reported their profits ’soared’ in the 4th Quarter of 2010 as consumers returned to using their plastic even more towards the end of the year. For the last 3 months, OCT-DEC, the credit network giant earned $415 million, a jump of 11% in revenue. For the year, purchases also rose 11% as compared to 2009. [...]
Credit card interest rates are SOARING to all-time new highs according to this week’s report by CNN (found HERE). The average interest rates for plastic are now hovering around 15%. If your credit is poor however, you can pay dearly. In fact, credit challenged consumers with low scores can be expected to pay ridiculous rates, up [...]
The so called ‘greatest generation’, people now in their senior years, are racking up huge amounts of credit card debt. According to surveys, nearly 40% of seniors have said they’ve accumulated credit card debt in their retirement years. Many have no intention of even paying it off. From vacations, to medical bills to just plain old [...]
Having large amounts of debt can cause many problems we all know. We blog about it here all the time. Debt affects credit score, your ability to get new loans, and even a new job. What we haven’t talked about yet is the strain it puts on your personal relationships. Sometimes the hidden debt isn’t even [...]
Here we go again. The latest report from a Fed study shows that credit card companies are like a ‘reverse Robin Hood’. You know Robin Hood. He’s the guy that used to help out his fellow woodsman and villagers by stealing from the rich and giving to the poor. Ok, well credit cards do the [...]
Job seekers today are finding it a difficult search for employment. Layoffs, cutbacks, and a rather sluggish economy have made a time of it for people looking for work. There is now however another obstacle that people may not realize when interviewing for positions; credit checks. An ever growing number of employers are now using [...]
It’s in all the recent headlines: Consumer Credit Card Debt Falling! The Fed reports that consumers eliminated their credit card debt by about $7.5 billion dollars in May of 2010 and from 2008 it’s reported to be down by 13% which is $127 billion dollars.[1] It all looks very ‘rosey’ indeed. Even late payments are [...]
