Home > Credit Cards > Credit.com’s Expert Predictions for 2011

Comments 1 Comment

Crystal-BallAs 2010 drew to a close, Credit.com’s experts took a look at the year ahead to give consumers some idea of what to expect from 2011 in the realms of credit, personal finance and the mortgage industry. Check out what they have to say:

2011: A Look Ahead
Will we see a credit thaw before springtime? Will debit card rewards go the way of the Dodo? Our personal finance and credit advisor, Gerri Detweiler, takes a look at these and other emerging trends for 2011.

Top Five Personal Finance Predictions for 2011
New year, new you…but the economy remains the same, according to Credit.com’s personal finance contributor Farnoosh Torabi. You won’t see monumental improvement in home sales, student loan debt or jobs. The silver lining: faced with poor job prospects, consumers will likely become more entrepreneurial.

Mortgage Industry Forecast for 2011
There’s talk of eliminating tax deductions for mortgage interest, but don’t let that deter you from buying a home. And while there will be many good opportunities for homebuyers, there are a few caveats, as well. Randy Johnson, Credit.com’s mortgage expert, gives you the inside track on these and other trends in the coming year.

Prioritizing Financial Literacy in 2011
Credit.com’s chairman and co-founder, Adam Levin, takes a look at how far financial legislation has come in recent years – and how much more work is needed.  His main prediction, however: 2011 (and the years beyond) are likely to be more difficult for the financially illiterate. Bottom line, get (and stay) educated, and you’ll be better prepared to deal with the complex and ever-changing landscape of credit and personal finance.

Six Credit Card Predictions for 2011
Now that the CARD Act is in full effect, 2011 is going to be the best year yet for consumer credit, right? Not so fast. Beverly Blair Herzog, Credit.com’s credit card advisor, lays out the good, the bad and the ugly for credit cards in 2011.

Image: outcast104, via Flickr.com

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

  • bp

    I was forced to take a chapter 7b bankrupcy which was discharged in June f 2010. I was never late on any payments before taking bankrupcy. I recently went blind so my income was dramatically reduced and Ihad to exhaust my IRA to keep bills current before filing. Myt question is how do I rebuild my credit and also I have a creditor who ws discharged during my BR but who is showing as a current account in good standing. My question is do I dispute it and say it was discarged in BR or leave it alone? It shows a credit limit of $8000 and a zero balance so I don’tknow which will hurt my score worse, another negative showing discharged or a high available credit limit?? Also, my Mortgage lender is showing as it was discharged but was not part of the BR as far as I know. We have continued to pay as usual.

    In another relatedquestion my family would like to move to another home with som acreage and less of a house. My son is 15 and wants to be able to hunt, etc. We currently live in a city and our home is upside down. Two years ago it appraiosed at $235,000 and last year it appraised at only $175,000 even though we put many improvements in it. I appear to be stuck in it since if I sell it I wil not have enough to pay off loan and get new home that we want. Any ideas??

Certain credit cards and other financial products mentioned in this and other sponsored content on Credit.com are Partners with Credit.com. Credit.com receives compensation if our users apply for and ultimately sign up for any financial products or cards offered.

Hello, Reader!

Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.

Our People

The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

Our Reporting

We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,

The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.

In addition to appearing on Credit.com, our articles are syndicated to dozens of other news sites. We have more than 100 partners, including MSN, ABC News, CBS News, Yahoo, Marketwatch, Scripps, Money Magazine and many others. This network operates similarly to the Associated Press or Reuters, except we focus almost exclusively on issues relating to personal finance. These are not advertorial or paid placements, rather we provide these articles to our partners in most cases for free. These relationships create more awareness of Credit.com in general and they result in more traffic to us as well.

Our Business Model

Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.

Visitors to Credit.com are also able to register for a free Credit.com account, which gives them access to a tool called The Credit Report Card. This tool provides users with two free credit scores and a breakdown of the information in their Experian credit report, updated twice monthly. Again, this tool is entirely free, and we mention that frequently in our articles, because we think that it’s a good thing for users to have access to data like this. Separate from its educational value, there is also a business angle to the Credit Report Card. Registered users can be matched with products and services for which they are most likely to qualify. In other words, if you register and you find that your credit is less than stellar, Credit.com won’t recommend a high-end platinum credit card that requires an excellent credit score You’d likely get rejected, and that’s no good for you or Credit.com. You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as "targeted ads" in the world of the Internet. Despite all of this, however, even if you never apply for any product, the Credit Report Card will remain free, and none of this will impact how the editorial team reports on credit and credit scores.

Your Stories

Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.

Thanks for stopping by.

- The Credit.com Editorial Team