Surviving in the world...

Surviving in the world of credit cards

Now we, customers, play a game ‘who have a better credit score’. It looks like that having a credit score is a point of pride rather than...

Some necessary researc...

Some necessary researches before getting rewards credit card

You decide to choose a credit card? OK, at first make a research to find the best variant for you. Before you request one of cards, you should be...

Advantages of reward c...

Advantages of reward credit cards

Of course, you think about worth and convenience of using a retail credit card so that when you buy something at this shop and you see something you...

A good credit history ...

A good credit history it’s very easy

Credit cards are convenient and can certainly help you to settle a good credit history, when you are young. And the good credit history is very...

Are Credit Card Delinquencies Going Up, or Down?

Posted by: Matilda Sprent  Posted date: May 13, 2012 in Credit Cards Advisor
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Credit Card Delinquencies Decreased and More Cards Opened

TransUnion, one of the three major credit bureaus, conducts a quarterly analysis of credit-active U.S. consumers and evaluates how they manage mortgages, credit cards and auto loans.  This study covered the fourth quarter of 2011 and centered on credit cards.  Credit card delinquencies decreased by almost 5 percent from one year ago, but average credit card debt increased by almost 5 percent.

Credit Card Delinquencies

Credit card delinquencies (those 90 days or more past due) were below historical norms at 0.78 percent in fourth quarter 2011 compared to 0.82 percent a year ago, which was a decrease of 4.88 percent.    Even though average credit card debt remained near the record low, it increased from $4,965 in fourth quarter 2010 to $5,204 in fourth quarter 2011, or a 4.8 percent increase.

When comparing third quarter 2011 to fourth quarter 2011, credit card delinquencies and credit card debt per borrower increased due to seasonality. Cred

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Tags: Card Card Delinquencies Credit Card Credit Card Delinquencies

Average Credit Card Rates in December 2011

Posted by: Matilda Sprent  Posted date: May 07, 2012 in Credit Cards Advisor
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Average credit card interest rates for consumers and businesses changed during the first half of December, 2011 despite a stable US bank prime rate of 3.25%.  Not all credit card interest rates are directly linked to the prime rate and there are a variety of reasons why the average credit card interest rates might change even with a stable US bank prime rate.

December 2011 Average Credit Card Rates

In December, the difference between interest rates for individuals with good credit compared to individuals with average credit narrowed, dropping between a half a percent to 3.57%.   The overall average interest rate for all credit cards is 16.71%.

The only category of credit cards which did not change their average interest rates this quarter are business credit cards.  T

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Tags: 2011 Average Credit Average Credit Card Credit Card

CFPB Proposes Supervision of Larger Debt Collectors and Credit Bureaus

Posted by: Matilda Sprent  Posted date: April 16, 2012 in Credit Cards Advisor
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The Consumer Financial Protection Bureau has proposed a rule that would allow the agency to supervise large debt collectors and consumer reporting agencies, aka credit bureaus.

The CFPB is a new consumer watchdog agency that was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. As part of its nonbank supervision program, the agency supervises mortgage companies, payday lenders, and private student loan companies. CPFB also takes complaints on credit card issuers. If the new regulation is passed, the CFPB would supervise the largest debt collectors and credit bureaus.

Currently, the Federal Trade Commission is responsible for enforcing laws for debt collectors and credit bureaus, namely the Fair Debt Collection Practices Act and the Fair Credit Reporting Act. However, the FTC typically only takes action after receiving consumer complaints.

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Tags: Bureaus Credit Bureaus Debt Collectors

FICO’s Banker Survey Predicts Delinquencies to Increase

Posted by: Matilda Sprent  Posted date: April 06, 2012 in Credit Cards Advisor
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The bankers expected delinquencies on student loans, mortgage and credit cards to increase and the global economy will put more pressure on the U.S. economy. Student loan delinquencies were the top concern and 67 percent expected them to continue to rise; which was a 40 percent increase from last quarter.   Student loan debt has surpassed credit card debt.  The next category, mortgage delinquencies, trailed behind at 47 percent predicting that delinquencies would continue to increase.

In fourth quarter 2011, bankers felt strongly that approval criteria for credit and loans will not become less stringent over the next six months. In first quarter 2011, the responders were more optimistic about delinquencies on mortgages, home equity loans, credit cards and auto loans. They became less optimistic through each quarter of 2011.

Consumer credit by industry

67 percent expected student loan delinquencies to rise; this was a 40 percent increase or 19 percentage points from the last quarter. On

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Tags: Delinquencies Increase Increase

Credit Card Profile Update: HSBC Credit Card

Posted by: Matilda Sprent  Posted date: March 23, 2012 in Credit Cards Advisor
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Are you the type of consumer who pays off credit card balances in full each month to get interest free days? If so, a no annual fee credit card like the HSBC Standard card could be perfect for you, because your credit card account is practically free.

Learn more about the HSBC credit card below to find out if this basic card is right for you and your spending habits.

Type of Credit Card: No annual fee credit card

Interest Rates*: The HSBC credit card charges an annual percentage rate of 17.99% on new purchases. However, you can avoid these interest charges if you pay off your balance in full every month to take advantage of the up to 55 interest free days offered by HSBC.

On the other hand, the only way to avoid the even higher cash advance rate of 21.99% is to avoid cash advances altogether.

Looking to save on an existing balance? You can get 0% interest on balance transfers for your first six months as a cardholder!

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Tags: Card Credit Card

When Debt Collectors Call Anyway

Posted by: Matilda Sprent  Posted date: March 21, 2012 in Credit Cards Advisor
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The way to stop debt collection calls (other than paying the debt) is by sending a cease communication letter. But what do you do when the debt collector continues to contact you even after you’ve told them to stop? Start by making sure they received your letter telling them to stop calling.

A complaint to the Federal Trade Commission may be necessary. It won’t necessarily stop calls immediately, but with enough complaints the FTC might launch an investigation into that agency.

Read: What to Do When a Collector Won’t Stop Calling

Tags: Call Call Anyway

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