March 10th, 2010
Wednesday Trends in Credit Cards & Debt
Consumer credit levels have up and down results at the start of 2010. On the one hand, overall consumer credit increased 2.4% in January (as compared to a 2.2% decline in December) and showed $2.45 trillion in consumer credit outstanding, reports Credit.com. But, the good news is that revolving consumer credit has consistently decreased every month for over a year, showing that consumers are continuing to pay off their credit card debt.
Credit.com writes, “Though a drop in revolving consumer credit may be taken as a positive sign in the form of people paying off their credit card debt, it also can have a negative connotation. A drop in revolving debt outstanding could also mean that banks had to charge off of what is owed to them as customers find it hard to pay off their credit card debt.”
Stay on top of your debt and credit card news with the rest of today’s roundup favorite personal finance articles and posts.
March 8th, 2010
Monday Jumpstart to Personal Finance & Credit Report News
The Wall Street Journal’s attention-grabbing headline is a sign of the times: Coupon Clipping Is Newest Extreme Sport. In a recession that’s left Americans struggling with at-risk loans, defaulted credit cards, slashed paychecks, and 8.4 million unemployed, penny-pinching is a practical and ever-more popular way to save money. The number of coupons redeemed rose to 3.3 billion last year, up from 2.6 billion in 2008. Sites like Groupon and RetailMeNot have taken coupon clipping high-tech, adding social networking and online access to offer consumers a fresh take on saving money the old-fashioned way.
Find more ways to make the most of your money with our personal finance roundup, plus articles and blogs to brush up on your credit health.
March 5th, 2010
Friday Scoop on Credit Karma & Housing Market News
Do you know what defines a “binding contract”, that short sales are typically subject to lengthy delays, or what contract contingencies might be included that will buy you some time? Find out this and more helpful, last-minute homebuyer tax credit tips from Bankrate.com to make the most of the weeks before the April 30th deadline to find and purchase your dream home.
Want more home market updates? Today’s roundup has your home maintenance tips and home mortgage info, plus Credit Karma links of the week.
March 3rd, 2010
Wednesday Trends in Credit Cards & Debt
America is shopping again! Most retail sectors, including electronics, men’s clothing, and luxury items, gained in sales in February. Online sales also rose sharply, however some spending categories, such as women’s clothing stores, slowed down; Associated Press blames bad weather and snowstorms keeping consumers indoors and away from cash registers. Despite these increases, spending overall remains tepid in the face of high unemployment and tightened credit.
Need some debt help or advice on your latest credit card? This roundup features great articles and blogs that will fill you in.
March 1st, 2010
Monday Jumpstart to Personal Finance & Credit Report News
CNN Money reports that personal income rose a modest 0.1%, equal to 11.4 billion total nationwide, in January. While the number is lower than economists’ expected figure of 0.4%, on the other hand, spending by individuals jumped 0.5% in January, equal to 52.4 billion total nationwide, which is above economists’ expectations. While these figures aren’t through the roof, increased spending and income is still a good sign the economy is slowly gaining momentum towards recovery.
Follow today’s roundup of personal finance and credit score topics for the latest news and advice.
February 26th, 2010
Friday Scoop On Credit Karma & Housing Market News
The Federal Reserve is preparing to take off the training wheels its had in place to help the housing recovery, reports CNN Money, by putting a stop to buying mortgage-backed securities that supported the battered market. For home buyers and lenders, this means higher mortgage rates soon, which could in turn hit housing prices and sales hard. With higher rates on its way , economic analysts are worried how this move will impact the stability of the housing market and the larger economy at large.
For your weekly dose of more housing market news and mentions of Credit Karma in the media, check out today’s roundup.
February 24th, 2010
Wednesday Trends in Credit Cards & Debt
When consumers were asked if their bank does what’s best for the customer, the nation’s biggest banks ranked rock-bottom of the list, reports CNN Money.. Last on the list in regards to customer service were Bank of America, Chase, Capital One, TD Bank/Commerce, Citibank, and HSBC.
Customer dissatisfaction is old news in the banking and credit card industry, as the CARD Act–in effect this week–attempts to reform and regulate practices to improve consumer protections. For customers looking to break up with their bank, financial institutions that scored well amongst consumers in the survey include local and regional banks, as well as credit unions.
More credit cards and debt news and advice included in today’s roundup.
February 22nd, 2010
Monday Jumpstart to Personal Finance & Credit Report News
After months of banks’ preparation and consumer anticipation, the final reforms of the CARD Act take effect today to change the way credit card issuers interact with cardholders.
Hoping to protect consumers from unfair and deceptive industry practices, the provisions in place today include banning double-cycle billing, stricter regulation of under-21-year-old customers, fixed payment due dates, and a 45-day notice before changing terms such as interest rates. While issuers are forced to comply to these laws, it also has the effect of changing credit card terms towards imposed annual fees, increased interest rates, and tighter credit score requirements as issuers scramble to recoup losses caused by the CARD Act reforms.
Keep up with more personal finance news and credit score help with the following roundup.
February 19th, 2010
Friday Scoop on Credit Karma & Housing Market News
Is the mortgage market starting to heal? CNN Money reports that fewer mortgage borrowers fell behind on mortgage payments in the last three months of 2009. Less mortgages going delinquent means less homeowners are at risk of foreclosure; foreclosures have been churning people out of their homes in unprecedented waves since the subprime mortgage meltdown in 2007. We remain hopeful trends will continue and home prices will stabilize to support a housing recovery in 2010.
Check out the mortgage tips for homeowners and Credit Karma media coverage in this week’s roundup.
February 17th, 2010
Wednesday Trends in Credit Cards & Debt
Across the credit card industry, delinquencies and charge-offs for major issuers trended upwards in January. Capital One reported its credit card delinquencies rose for the second month in a row, from 5.75% to 5.80% since December. Meanwhile, charge-offs– past-due credit card debt that can no longer be collected– rose from 10.14% to 10.41% in December. Tips to help you steer clear of stress and risk of delinquency with the following debt reduction articles and credit card news in today’s roundup.
