Thursday, June 4, 2015

Top story: 6 debt consolidation traps and how to avoid them

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Weekly newsletter: June 4, 2015

 More credit card news
 Credit card help
 Credit card videos
 Credit card statistics
Top credit card news
Expert advice
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6 debt consolidation traps -- and how to avoid them
Debt consolidation allows you to lump multiple debts into one loan, usually with a lower interest rate. But fall into one of these traps and you could end up worse off than when you started. More...
How finance companies differ from credit cards, banks
Consumer finance companies offer an alternative way to pay for big-ticket items. But look before you leap. More...
Top 10 phone scams to watch out for
Phone scams are the No. 1 choice of communication for fraudsters looking to cash in on unwitting consumers, and the phony credit card rate reduction is the No. 1 scam. More...
'Cashing In' by Tony Mecia
Fraud risk minimal on canceled RFID chip card
RFID chips transmit information after the card is canceled. It's not useful to criminals but it won't hurt to destroy the chip. More...
'Opening Credits' by Erica Sandberg
I changed my mind: Can I cancel new card, avoid annual fee?
Know all fees before you apply, or you may be left with a card you don't want. More...
'To Her Credit' by Sally Herigstad
Dissolving joint debt post-divorce dicey
Dragging out joint debt obligations after divorce opens door for all sorts of problems. More...
TAKING CHARGE Blog
Rate Report
My secret spending splurge: Do I tell my husband?
If your finances are merged, should you ever keep a purchase hidden from your partner, even if it's just a small expense? More...
Researchers' model predicts who will, won't pay delinquent card debt
Researchers studied thousands of overdue card debts to determine what separates payers from non-payers. They found that banks' traditional credit standards aren't good at predicting who will pay delinquent balances. More...
Credit card rate report
As of 6/4/2015
National Average
14.99%
Low Interest
11.62%
Balance transfer
14.13%
Business
12.85%
Student
13.14%
Cash Back
15.26%
Reward
15.12%
Airline
15.10%
Bad Credit
22.73%
Instant Approval
17.93%
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