72% of Bankers Say Interest Rates Will Rise

Personal Finance

72% of Bankers Say Interest Rates Will Rise

72% of Bankers Say Interest Rates Will Rise

Experts expect consumer demand for credit to continue growing during the next six months, driven mostly by those in the 30- to 39-year-old age group. The quarterly survey of bank risk professionals conducted for FICO by the Professional Risk Managers’ International Association (PRMIA) also showed expectations for increased interest rates. The groups have conducted the... Read More

Credit Card Balances Inch Up Again

Credit Cards

Credit Card Balances Inch Up Again

Credit Card Balances Inch Up Again

Since the end of the recession, millions of Americans have made significant strides in trying to reduce their debts, particularly with regard to their credit cards. More recently, however, balances held nationwide have fluctuated somewhat, with the most recent data showing a slight increase in April. The total amount of consumer credit card debt held nationwide rose about 1 percent... Read More

10 States With the Highest Credit Card Balances

Credit Cards

10 States With the Highest Credit Card Balances

10 States With the Highest Credit Card Balances

With holiday spending expected to soar this year and some consumers using their favorite piece of plastic to front the cash, credit card balances are on the top of everyone’s mind. Since a higher credit utilization ratio (total balances to total credit limits) can hurt your credit score, balances do matter. To see if your... Read More

New Data Show Consumers Using Their Plastic More Often

Managing Debt

New Data Show Consumers Using Their Plastic More Often

New Data Show Consumers Using Their Plastic More Often

While people around the world are still reeling from the recent recession, many consumers now feel they’re in a better position to handle added debt and spending, and that was reflected in third-quarter statistics from the world’s second-largest card payment processor. MasterCard saw the number of transactions it handled on its branded debit and credit... Read More

Loan, Credit Card Balances Grew in August

Managing Debt

Loan, Credit Card Balances Grew in August

Loan, Credit Card Balances Grew in August

In the past year or more, consumer borrowing has been on the rise despite Americans’ efforts to curb their credit card use. However, even those accounts carried more debt at the end of August. Consumer credit – that is, the total amount of debt owed to lenders on both credit cards and installment loans not... Read More

Credit Card Balances at Lowest Level Since ’02

Credit Cards

Credit Card Balances at Lowest Level Since ’02

Credit Card Balances at Lowest Level Since ’02

The amount of money owed to lenders on all types of credit declined once again in the second quarter of the year, as did the total number of accounts that were behind on payments. Both measures indicate consumers may be getting a better handle on their finances. Consumer debt slipped $53 billion from the first... Read More

Consumers Once Again Cut Credit Card Balances

Credit Cards

Consumers Once Again Cut Credit Card Balances

Consumers Once Again Cut Credit Card Balances

Once again in June, the overall amount of money owed by consumers to their various lenders increased, but at the same time, Americans were able to slash their credit card balances. The total amount owed on credit card debts slipped 5.1 percent in June to a total of $864.6 billion from May’s $868.3 billion, according... Read More

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