The Federal Reserve's rate-setting committee, in an effort to combat a likely recession, slashed a key short-term interest rate Tuesday, this time by three-quarters of a percentage point. The move by the Federal Open Market Committee followed a half-percent rate cut Jan. 30 and brought the federal funds rate down to its lowest level since December 2004. |
Subprime credit cards are issued to customers with bad credit or no credit history. They are sometimes referred to as "fee harvester cards" in the credit card industry. These cards typically carry low credit limits of $250 to $500 and are designed to help cardholders launch or re-establish payment histories. |
The proposed Regulation Z revisions cover two different kinds of disclosures designed to warn consumers who make the minimum payments on their accounts. Paying only the minimum amount each month lengthens the amount of time credit cardholders can take to pay off their debts -- and increases the amount of interest creditors earn from accountholders. |
Are there some people who shouldn't have credit cards? I think I might be one of them. When I'm stressed, I spend every dime I have, and I don't even know where the money goes. A few months ago, I was stressed out at work and before I knew it, I had spent the rent money. I don't have any savings or retirement funds, but at least I don't have any credit card debt. I'm so scared I'll get in trouble with credit cards that I've never had one. Should I stick to paying for everything with cash?
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Credit counseling agencies could once negotiate lower interest rates on behalf of debt-ridden clients. But credit card issuers are no longer willing to be as forgiving, adding more pressure to some already over-stretched borrowers. |
Do you know if FICO and the three major credit reporting bureaus have changed the rules for credit card shoppers? It's frustrating when you shop for better interest rates and get them only to have them punish you on your credit score for shopping.
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While everything from Chevrolets to stamps can be put on plastic, there's one place people can still get rebuffed: the landlord's office.
For many people, the only time each month they even dust off their checkbooks is when the rent is due. But while acceptance is hardly universal, a growing number of landlords allow paying rent by credit card.
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As an increasing number of people find plastic as the only form of payment in their pockets, some cash-reliant people, from waiters to street musicians to bell-ringing kettle Santas, are having to adjust.
Because the movement of cash is hard to track, the evidence so far is anecdotal, but it appears that those who rely on paper dollars and coins are starting to suffer some hardships.
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With sign-up bonuses for airline rewards cards hitting new heights, savvy frequent fliers can pocket thousands of extra miles -- for free -- by signing up for a succession of credit cards with mileage bonus offers. Pocket the miles, ditch the card, and repeat as necessary.
It's a good time to go for the rewards, say industry observers: As lenders and airlines compete for the prized frequent flier demographic, credit cards are offering bigger and better airline mileage extras to woo new customers. Getting such cards one after another is a strategy that can put your credit score at risk, but credit experts say responsible credit users can manage it.
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The Federal Reserve's rate-setting committee, in an effort to combat a likely recession, slashed a key short-term interest rate Tuesday, this time by three-quarters of a percentage point. The move by the Federal Open Market Committee followed a half-percent rate cut Jan. 30 and brought the federal funds rate down to its lowest level since December 2004. |
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