February 3rd, 2010
Wednesday Trends in Credit Cards & Debt
“The CARD Act finally protects consumers against the credit card industry’s most abusive practices: Yes AND no,” writes The Washington Post. The Post debunks five myths about America’s credit card debt, discussing how credit card legislation won’t magically fix everything, and even while a credit-scarce economy has pushed cardholders to switch to debit, America is still largely a plastic-carrying consumer society. For more credit card news and debt help, including blogs on more effective debt-reduction strategies, this week’s roundup has it all.
Credit Card News
- WiseBread gives great tips on how to avoid getting your credit card canceled.
- Balance transfer credit cards can save you money, blogs Personal Finance Analyst.
- Stream Consumerism Commentary’s podcast on the Credit Card Act of 2009 to learn more about the credit card reforms effective this February.
- How do I pick the best credit card? Get Rich Slowly blog finds some answers.
- Debt Free Adventure discusses credit card minimum payment disclosures and whether or not they are helpful.
Debt News
- Read great advice from Debt Tips on 5 warning signs that you should avoid a debt settlement company.
- The Digerati Life blog points out that most people in debt don’t realize they have poor spending habits. Check out this blog on how to identify a shopping addiction.
- Try Bargineering’s debt reduction plan through stricter budgeting in how to build a zero-based budget.
- “I’ll never have to keep a budget again,” and 5 more assumptions about debt-free living, brought to you by WiseBread.
- Being Frugal checks in: how are your debt repayment goals coming?
