One of the biggest drawbacks of using credit cards for purchases is the high risk of getting yourself into debt. If you are a smart consumer, then you are probably keen on keeping up to date with your monthly balances and you probably pay it off every month.
However, emergencies and sudden financial disasters, such as the current economic crisis and high unemployment, can easily destroy your monthly credit card payment schedule. As a result, you have probably found yourself in deep debt now....
As the economic crisis continues, more and more American consumers are finding themselves barely able to pay for basic utilities. Mortgages, car loans and student loans are becoming more difficult to pay off as less and less cash is available. Many American consumers are turning to paying off these loans using credit cards and the service is getting even more convenient as it has just gotten online.
Currently, there are a few online companies that are offering credit cardholders the chance...
As more and more American consumers see the risks of using credit cards for their purchases, debit cards are fast becoming the plastic of choice in the U.S. As a matter of fact, the switch from credit cards to debit cards has been a growing trend among consumers for a few years now.
In most cases, debit cards have many similarities to credit cards. They are essentially similar in form. They are supported by Mastercard and Visa. They also offer the same convenience of paying with plastic...
When the credit card bill was released, merchants were less than pleased that they had been left out.
While addressing many unfair credit industry practices such as unfairly high interest rates and fees and obfuscated business practices, the credit car bill left out merchant's pet credit industry peeve: interchange fees.
Merchants pay an interchange fee every time their customers buy from them using credit cards. These fees average at about 1.75 percent of a credit cardholder's purchase...
According to a recent study, college students comprise one of the many groups of cardholders that have been hit the hardest by credit card debt.
According to a survey by Sallie Mae, a lender focusing on student borrowers, this April of 2009, college students on the average own four credit cards or more. Most college cardholders are also not very good at keeping up with their monthly payments. A majority of college cardholders regularly get hit by large monthly finance charges because they...