21 Jun
In the last article I gave you some tips on how to use your credit cards in a smart way. These tips covered education and interest rates. Now I will write about late fees. We have all made late payments, and most of us have gotten stuck with a late fee. Credit card late fees can vary from fifteen dollars to as high as thirty nine dollars. And as if this weren’t enough, if you are late on a payment, most credit card companies will raise your interest rate on top of your late fee. Experts tell us that nearly a third of credit card business revenue comes from late fees. But want to know a secret? Most credit card companies will waive your late fees if you call and ask them to. Read the rest of this article...
19 May
Even though we are dealing with the dismal circumstance of the recession, one good piece of information is that Americans as consumers are expected to be more conscientious and savvy. What this means is that as consumers, we will only borrow what we can find the money to pay for, save cash, and pay off credit card debt at the end of each month. This exciting new trend could also mean that as consumers, our credit scores will flourish, reaching what they industry refers to as super prime, the top score that is achievable. Read the rest of this article...
19 Mar
Discover Financial Services, facing the demand for added funding while profits are diminishing and credit card charge offs are amplifying, received only a indifferent response from the equity market as a public offering last week of its ordinary shares had to be priced at a 12 percent markdown to the market.
Right now there is a great deal of risk aversion when it comes to credit cards, said Dan North, chief economist at Euler Hermes ACI, a trade credit insurance firm. Read the rest of this article...
