January 27th, 2010
Wednesday Trends in Credit Cards & Debt
This eye-opening chart compares overall credit card transactions and credit use across several countries: the U.S leads the pack with a sky-high $1,693 billion in credit card transactions, the United Kingdom trails at 20% that of U.S credit use with $388 billion, and the lowest use of plastic is China with $12 billion. In addition, the visual shows that by the mid 2000s, 80% of American households own a credit card and the average credit card debt hit an all-time high of $10,385. Are Americans too credit-obsessed and debt-heavy? Check out the following roundup with the week’s worth of credit card news and debt tips.
Credit Card News
- Credit card-issuers find creative ways to skirt new law reports MarketWatch.
- MoneyNing blogs on the difference between 0% purchase and 0% balance transfer credit cards.
- Wall Street Journal advocates credit card rewards you can invest.
- Credit cards get friendlier after recession and reforms writes The Washington Post.
- CNN Money reviews ‘consumer-friendly’ credit cards.
Debt News
- Ready for you financial IQ test for the day? How healthy is your debt management?, asks Wise Bread.
- Myth or truth: is there such a thing as good debt? Eliminate The Muda investigates.http://www.debtfreeadventure.com/debt-reduction-while-planning-career-change/
- Can you reduce your debt while planning a career change? Debt Free Adventure answers this predicament.
- The Smarter Wallet discusses whether debt counseling services are an effective method of debt relief.
- Another guide to debt relief, Personal Finance Analyst reviews credit card debt consolidation loans.
Justine – Thanks for featuring my post! It’s an honor to have that article recognized!