Last April 2010, we wrote about the steady reduction in credit card debt by the American Consumer. The trend continues. According to the Federal Reserve, Fourth Quarter 2009 credit card consumer debt was at $894.0 billion; fourth quarter 2010 credit card debt was $826.7 and Feb 2011 numbers stand at $792.1 billion. So what’s causing [...]
Entries from April 29th, 2011
Consumer Debt Still on the Decline
April 29th, 2011 · No Comments · Consumer Debt
Tags: Consumer Debt·Credit card debt·damaged credit·debt consolidation·Debt Settlement·Federal Reserve·New Credit
Despite Growth, More Than Half of Americans Believe U.S. Still in Recession or Depression
April 28th, 2011 · No Comments · Economy
Though economic recovery did slow a bit in the first quarter of 2011, it is no indicator of a recession, and certainly not a depression. Yet more than half of Americans may say otherwise.
Tags: depression·economic growth·economic recovery·Economy·food prices·Gallup poll·gas prices·recession
Does Canceling a Credit Card Hurt My Score?
April 26th, 2011 · No Comments · Credit Bureaus and Scores, Credit Cards
Q.I have a credit card with outrageous annual fees and an incredibly short grace period. It’s my oldest card and I’m afraid that canceling it will bring down my credit score. A. If you cancel a card, mostly likely nothing will probably happen to your credit score immediately. Your credit history for this card will [...]
Tags: credit card account·credit report·Credit Score·credit score factors
