Newest Prepaid Card Celebrity Sponsor? Magic Johnson

Credit Cards

Newest Prepaid Card Celebrity Sponsor? Magic Johnson

Newest Prepaid Card Celebrity Sponsor? Magic Johnson

Magic Johnson became the latest celebrity to enter the prepaid debit card market, after unveiling the aptly-named MAGIC MasterCard on Tuesday. The former basketball star said in a press release he launched the card, in partnership with OneWest Bank, to help customers without traditional bank accounts “function in today’s society.” While the card contains a fairly competitive fee… Read More

This Week in Credit News: Congress & Courts Edition

Personal Finance

This Week in Credit News: Congress & Courts Edition

This Week in Credit News: Congress & Courts Edition

Our nation’s capitol was where all the action was happening this week. With the month coming to a close, deadlines were approaching for Congress to act on student loan interest rates and for the Supreme Court to rule on health care legislation. It’s been a monumental week for students and Americans as a whole. Senate… Read More

Lawmakers Agree to Tentative Student Loan Rate Extension

Students

Lawmakers Agree to Tentative Student Loan Rate Extension

Lawmakers Agree to Tentative Student Loan Rate Extension

After much consternation and debate, and just days before the deadline, federal lawmakers have struck a tentative agreement to extend the current interest rates on subsidized government student loans for the next year. Federal student loan interest rates were set to double to 6.8 percent on July 1, but federal lawmakers struck an agreement to… Read More

Supreme Court Upholds Controversial ‘Obamacare’ Law

Personal Finance

Supreme Court Upholds Controversial ‘Obamacare’ Law

Supreme Court Upholds Controversial ‘Obamacare’ Law

The highest court in the land announced earlier today that it would uphold most of the healthcare overhaul pushed by President Barack Obama and approved by the U.S. Congress in 2010. Nearly all of the “Obamacare” law will be allowed to stand thanks to a Supreme Court ruling that went 5-4 in favor of the… Read More

Will Bank Credit Downgrades Affect Me?

Personal Finance

Will Bank Credit Downgrades Affect Me?

Will Bank Credit Downgrades Affect Me?

The interest rates and fees consumers are accustomed to paying for banking accounts, credit cards and other lines of credit may soon start to increase as a result of a recent downgrade in the credit ratings for a number of major institutions. Moody’s Investors Service downgraded the credit ratings for major U.S. financial institutions like… Read More

5 Credit Rules Everyone Should Follow

Credit 101

5 Credit Rules Everyone Should Follow

5 Credit Rules Everyone Should Follow

Managing credit correctly requires a certain amount of discipline. If you let your spending get out of control or take on too many loans, you could face big money troubles. That’s why, when it comes to borrowing, it’s important to have some guidelines. Here are five credit rules every consumer should follow so their finances… Read More

Considering a Non-Bank Mortgage? 7 Steps to Avoid Scams

Mortgages

Considering a Non-Bank Mortgage? 7 Steps to Avoid Scams

Considering a Non-Bank Mortgage? 7 Steps to Avoid Scams

During the height of the mortgage boom, it seemed all you needed to get a mortgage was a pulse. Now that banks have tightened their lending rules considerably, many people find it impossible to get a traditional mortgage. One of those people is Amber, a Credit.com reader who wrote us recently. Her “credit score is… Read More

Credit Complaint Database Could Benefit Small Banks

Personal Finance

Credit Complaint Database Could Benefit Small Banks

Credit Complaint Database Could Benefit Small Banks

A number of major banks have expressed some amount of consternation over the new credit card complaint database maintained by the federal government, but some experts say the program could be extremely helpful to smaller institutions. The federal Consumer Financial Protection Bureau’s new credit card complaint database collects the issues borrowers have lodged with the… Read More

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