Credit card usage is still growing, there are about 181 million credit cards in the US! Most people actually use it on travel expenses, and surprisingly only 1 in 5 use them to pay for bills.
Nearly everybody has at least one Credit Card — almost 80% of consumers in 2008, according to the Federal Reserve Bank of Boston – and many use it on a daily basis. Without a doubt, there are also those consumers who know their credit card numbers by heart (makes online shopping and booking travel so […]
Many people believe that closing a credit card account will help improve their credit. Sadly, that’s a myth – as is the idea that paying off your debts will immediately goose your credit score higher. How many of these very common credit card myths did you think were true?
With the recession, it seems like everyone has been cutting back on their spending and ditching the plastic. However, credit card debt is still a major source of stress for many American households. BillShrink took a look at users across the country to see which states were doing the best (and worst) at keeping their […]
The debt held by U.S. consumers plays an important role in today’s economy. In fact, a huge portion of the economic growth factor, or GDP, relies heavily on consumer debt. What follows is a dissection of consumer debt, showing how much we owe, who owns our debt, and America’s favorite credit cards.
Credit card rates used to closely track the prime rate, but they don’t anymore. Card issuers, for a variety of reasons, hang on to more of the spread between the rate they pay for funds and the rates they charge. It’s one of the many ways card issuers have raised costs for consumers in the […]