When entangled in credit card debt, it is oftentimes difficult to envision financial freedom. By applying earnest efforts and appealing to discipline, will power, and perseverance, however, consumers can pay off credit cards and eliminate credit card debt. The key to avoiding a potentially irreversible impact on their financial health is for debtors to take […]

Two powerful incentives for credit card debtors to choose loan consolidation are 1) the high interest rate associated with plastic money and 2) Congress’ authorization of a hike in the minimum monthly payment that borrowers must pay. First, depending on consumers’ credit rating and history, interest on many credit cards can range from 20 to […]

Americans have over the span of the last 3 decades fallen in love with credit cards. The allure of plastic money has taken over the American psyche, partaking in a healthy dose of borrowing. However, the past few years of low interest rates has caused consumer debt to reach record levels. The incomes of majority […]

It is not uncommon for people to have debt. Since the advent of the charge card in the 1950s, Americans have been charging more and more. There are over 641 million credit cards in circulation, accounting for approximately $1.5 trillion of consumer spending; clearly the American public enjoys the convenience of credit cards. But convenience […]

The average American mortgagor spends hundreds, if not thousands of dollars each month on a mortgage. Using a credit card to pay off a mortgage was an inconceivable and farfetched notion, until now. American Express has just ushered in a new concept that is bound to revolutionize the mortgage and credit card industries. It plans […]

In 2005, Americans holding an average of 5 credit cards per household utilized almost 700 million credit cards to purchase products and services totaling $1.8 trillion. To protect consumers from abusive and unfair credit card practices and ensure arms-length treatment by credit card companies, Senators Claire McCaskill (D- MO) and Carl Levin (D-MI) introduced this […]

Are you receiving an outpour of credit card offers through the mail or email stating that you’ve been pre-approved for a line of credit? Well if so, you’re certainly not alone! With all of the different features, benefits, and rewards that credit card companies offer, it’s hard to determine which one will be your best […]

Credit cards can be either a blessing or a curse, depending on whether or not they are utilized judiciously. Although plastic money has facilitated our lives, the reality remains that in the past two decades, more and more Americans have slipped into the black hole of credit card debt. Paying down debt can be quite […]

The majority of adults in the United States own and regularly use credit cards.  The convenience and availability of credit cards has led to the popularity of this form of currency, causing some consumers to “get in over their heads.”  Falling behind on payments can result in even more financial debt and poor credit ratings.  […]

Consumer debt is a rising epidemic in American culture today, with average debt quickly approaching $15,000 per US household.  Considering the fact that the US is one of the richest nations in the world, what is causing this inability of individuals and households to fulfill their monthly financial obligations? It’s no longer a closeted fact […]