The Biden administration recently proposed a new rule that would slash credit card late fees “by 75 percent,” but critics argue this would harm consumers, including customers who pay their bills on time. The Consumer Financial Protection Bureau (CFPB), the federal government’s consumer protection watchdog, issued a measure to prohibit excessive credit card late fees….
White House Rule on Credit Card Late Fees Would Harm Consumers, Critics Warn
How to Get Your Credit Score Above 800
February 3, 2023
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One of the best things you can do for your finances is to have a good credit score. Having a good score will help you get some good deals on credit, but the best deals come to those with credit scores of 800 or more. Along with it, you can enjoy the 800 credit score…
Parents, Know Your Legal Responsibilities on Your Kids’ Credit Card Debt
January 15, 2023
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By Steve Rosen From Tribune Content Agency Your teen had a great time using his credit card on holiday shopping sprees, so much so that he spent to the max and now can’t pay the tab that is due. This is a reality check right to the wallet for mom and dad. That’s because the…
States Push to Ban Credit Card Companies from Tracking Gun Sales
The conflict between gun owners and credit card companies is heating up as so-called red states move to enact laws that will block efforts by financial institutions to track Americans’ firearms purchases. West Virginia introduced on Jan 12. legislation that would ban credit card companies from collecting or disclosing data on their customers’ firearms purchases….
Family Finances: Paying Down Your Credit Card Debt Is a Good New Year’s Resolution
By Sandra Block From Kiplinger’s Personal Finance Carrying a balance has always been costly, but it’s particularly expensive now. The average credit card interest rate in mid-December was 19.42 percent, the highest rate since 1992. As the Federal Reserve Board continues to raise short-term interest rates to throttle inflation, average rates could rise even higher,…
Americans Finding It Difficult to Pay Credit Card Dues on Time, as Delinquency Rises Amid All-Time-High Interest Rates
A larger number of U.S. consumers are having a tough time paying off credit card dues every month in an environment of elevated inflation, with those making lower income less likely to clear their debts while accruing greater interest payments. Roughly 46 percent of credit card holders do not pay off their dues in full…
Spending: Credit Cards Offering Security Perks
By Rivan V. Stinson From Kiplinger’s Personal Finance Credit card issuers offer many perks for their customers, but one of them is peace of mind. Cards often provide some protections against thieves and unauthorized charges. Capital One’s CreditWise and Chase’s Credit Journey, for example, offer cardmembers—and non-cardmembers—free credit monitoring. The services track your Social Security…
More Reasons to Shop With a Credit Card
By Rivan Stinson From Kiplinger’s Personal Finance Credit cards make retail transactions easier. But they also can provide some extra shopping perks that will give you more for your money. Issuers such as American Express, Capital One and Chase offer digital coupons to holders of their debit and credit cards. Simply sign into your account,…
Credit Card Companies Expand Perks
By Rivan V. Stinson From Kiplinger’s Personal Finance Credit card issuers are expanding their perks to give loyal customers breaks on dining and entertainment. Food-delivery memberships and discounts are among the trendy benefits now, says Ted Rossman, senior industry analyst for Bankrate.com. For example, Chase and DoorDash extended their partnership to offer eligible cardholders a…
Look to Your Credit Card for Travel Protections
By Rivan Stinson From Kiplinger’s Personal Finance With delays and cancellations for air travel worse than ever, your credit card’s travel insurance could come in handy to cover various aspects of what could go wrong with your trip. Insurance for trip cancellation or interruption kicks in if your prepaid or nonrefundable flight is canceled or…
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