Thursday, January 12, 2012

This week's top story: Consumer debt sees biggest jump in a decade

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More credit card news | Credit card help | Credit card videos | Credit card statistics January 12, 2012
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CreditCards.com's weekly newsletter features the latest consumer information and updates from the leading source of credit card news.
 
Top credit card stories

Consumer debt sees biggest jump in a decade
Consumer debt saw its biggest growth in 10 years in November, according to new data from the Federal Reserve, as consumers headed into the holidays ready to spend. More...
 
 
Supreme Court backs credit card binding arbitration
The U.S. Supreme Court dealt at least a partial setback Tuesday to credit card customers seeking to break free from the bonds of binding arbitration. More... 
What do you say when you can't pay?
If card bills are due, but funds are scarce, here's a four-step plan to address the problem with your issuer. More... 
Consumer watchdog to begin supervising 'nonbanks'
As the new head of the Consumer Financial Protection Bureau, Richard Cordray announced a review of payday lenders, collectors and credit bureaus. More... 
Expert credit card advice

Don't play around with card phone scams
'To Her Credit' expert Sally Herigstad
When a telephone caller promises a lower credit card rate, but needs your card number for confirmation, hang up fast. More...
 
Mom's on the hook for daughter's card debt
'Opening Credits' expert Erica Sandberg
A daughter files for bankruptcy only to discover her mom is still liable for $24,000 on a credit card she co-signed with her.
More...
 
Joint card accounts mean joint liability
'Credit Care' expert Tanisha Warner
Deceived by her husband, a reader wants her name off a jointly held card with $10,000 of debt. She shouldn't get her hopes up.
More...
 
Biggest rewards card goof: Not cashing in
'Cashing In' expert Cathleen McCarthy
Sure, rewards programs can be complex and confusing, but the biggest mistake rewards card holders make is a simple one. More...
 
More credit card news

Video: Stop card offers from clogging your mailbox
A humorous look at ways you can eliminate credit card offers and junk mail from overloading your mailbox. More... 
Were you scammed in 2011?
Beware rogue Romeos: Dating site cons made the list of 2011's top scams, and one faux Lothario cost our blogger's friend $4,000. More... 
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Credit card rate report
(as of 1-12-2011)
National Average   14.95%
Business   13.13%
Low Interest   10.40%
Balance Transfer   12.71%
Cash Back   14.61%
Reward   14.78%
Bad Credit   23.41%
Airline   14.54%
Student   13.77%
Instant Approval   15.49%

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