Total consumer borrowing in the United States grew at a much slower rate than experts anticipated, thanks in part to a surprising dip in credit card debt, according to a report from Bloomberg News.
The figures for consumer debt last month were recently released by the Federal Reserve, and they show that, while credit increased by [...]

High levels of credit card debt will likely leave many Americans vulnerable to sudden changes of economic fortune in the coming months, according to a recent warning from the New York Post.
Last month, total consumer debt rose by almost 10 percent, as consumers leapt into the arms of creditors who are eager to begin wheeling [...]

The mad scientists in Bank of America’s consumer goodies division have cooked up a new treat in an effort to entice more consumers to take their business to the giant bank.
Bank of America, the country’s largest lender of credit cards, recently announced its intentions to offer a social couponing service for its credit card customers. [...]

In a disturbing new celebrity trend, famous Americans have begun marketing their own prepaid debit cards, which promise people with low credit access to instant cash.
The prepaid debit cards range from the flashy (the Kardashian sisters developed a famously awful line of prepaid cards) to the more respectable (financial advisor Suze Orman has built her [...]

College students face unique challenges when obtaining credit cards. On one hand, lenders often offer college students attractive interest rates, despite their lack of credit scores, because college-educated card holders tend to be better customers.
However, the new CARD Act, which recently made it through Congress, makes it very difficult for college students to get credit [...]

Most of the time, when consumers rack up tens of thousands of dollars in debt, they may see their only option being to simply file personal bankruptcy, which is designed to wipe out unmanageable debt.
On occasion, however, debt miracles can happen. The story of two Michigan residents who paid off $92,000 in credit card debt [...]

The period of life after a bankruptcy discharge can be both exciting and scary. On the one hand, you have a clean slate, meaning that your old debts are history. On the other hand, you’re essentially at square one for establishing credit and building yourself up financially.
And rebuilding credit after bankruptcy is essential to future [...]

As the unemployment rate creeps downward, it’s beginning to feel like financial recovery might actually be on the horizon for the country’s economy. But among individuals and families, other indicators suggest that many people are still struggling mightily with money.
According to information from various online sources, falling credit card debt levels could indicate bad news [...]

If you’re recovering from a bankruptcy filing, trying to get out of debt or otherwise attempting to improve your finances, there’s nothing quite as frustrating as thinking you’re doing well spending-wise, only to find unexpected charges on your credit card bill.
Now, thanks to a new law passed at the end of December, your chances of [...]

The Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law this summer by President Obama, introduced a number of financial reforms for big business as well as new protections designed to shield consumers against potential abuses.
One of the act’s proposals, which has not yet been approved, would lower debit card interchange fees by [...]

If you’re recovering from a bankruptcy filing or otherwise trying to keep your budget on track, you’ve hopefully spent some time developing a plan for holiday spending. And, if you haven’t, take a moment to consider some of these holiday spending figures:

We tend to spend more than we plan to: Last year, according to sources, [...]

Whether you’re considering a personal bankruptcy filing or are just trying to keep your finances on track, negotiating with your credit card issuers can be a powerful way to manage your debt. But the details of how to effectively convince a credit card company to agree to a lower total bill aren’t exactly common knowledge.
Here [...]

A new study conducted by the University of Michigan Law School indicates that more than two-thirds of Americans 65 and older who turn to bankruptcy protection for financial relief cite overwhelming credit card debt as one of their primary reasons for filing.
This is a troubling statistic, particularly if you or your parents fall into the [...]

A recent article in the New York Times explores some of the continued abuses persisting in the credit card industry, despite the provisions of the Credit CARD Act, which recently took full effect.
According to the Times, many credit card issuers are technically complying with the law, but essentially continuing with what some consider predatory lending [...]

There’s been a fair amount of discussion lately about the ups and down of credit card balance transfers and whether they’re effective debt-elimination tools, particularly in light of some of the changes taking place thanks to the Credit CARD Act. Here’s a look at the basics of understanding balance transfers and determining whether one might [...]

A fascinating article\ from the New York Times discusses a forthcoming service from MasterCard that could provide a new kind of discipline for those of us who have difficulty sticking with our monthly budgets, despite our best intentions.
The service is called inControl, and, if your bank adopts it, will apparently work like this:

You choose limits: [...]

In welcome news for struggling consumers, Americans have lowered their credit card debts this summer in the wake of a lingering recession. In fact, numbers recently released for June show that overall consumer debt has fallen for the 19th time in the last 21 months.
The news, however, is not all positive, as many economists claim [...]

As you probably already know, having “good credit” can help you get favorable interest rates on loans and may even make you look like a good candidate for a job or an apartment rental. But how can a person achieve the abstraction of “good credit?” There are a few ways. Here’s a look at one: [...]

The Pew Charitable Trusts recently released a report on the effects so far of the new Credit Cardholders’ Accountability, Responsibility, and Disclosure Act (Credit CARD Act). The findings suggest that, generally speaking, most credit card issuers have improved their transparency and decreased deceptive pricing techniques—but that certain not-so-consumer-friendly practices remain common.
Here’s a look at some [...]

Credit cards seem like a relatively egalitarian method of payment. Most folks pay the same interest rates and annual fees, regardless of their income level. However, according to researchers at the Federal Reserve Bank of Boston, poor Americans pay considerably more than the wealthy for credit card rewards.
According to a report cited by NPR, popular [...]