Auto Lenders Loosening Up Lending

Auto lenders are responding to the bad economy by loosening up a bit. More and more people with problematic or blemished credit are able to get car loans these days, and that is especially true with the new-car loans. The average amount financed on vehicle purchases...

Spending Up But Debt Down

Credit card spending is up this year over the same time as 2009 indicating a bit more confidence from consumers; however, credit card debt has dropped to the lowest level in eight years. The last time spending was up was the third quarter of 2008...

The Damage Is Done…How Common Credit Mistakes Affect Your Credit Score

Most people are fully aware that a late payment or maxing out their credit cards can do some damage to their credit. However, it has long been mysterious as too how much damage, as in how many points the score will...

The CARD Act of 2009 And The Benefits For Consumers

On February 22, 2010 the Credit Card Accountability Responsibility and Disclosure Act of 2009 took effect. The CARD as it is more popularly known, is a comprehensive credit card reform legislation that is meant to establish ?fair and transparent practices relating to the...

Any New ?Number? For Credit Repair Is A Scam

The latest credit repair and identity theft scam to hit the Internet is companies selling ?dormant? or unused Social Security numbers as a way to establish a new credit file. And they?re not calling them Social Security Numbers but rather ?CPN?s? for credit profile,...

Flaws In The CARD Act

One of the lesser-known or talked about changes of the CARD act of 2009 is that credit card applicants under age 21 are now required to have enough income to support the credit card or have an adult act as a co-signer on the...

The True Meaning Of The Holidays Sans Credit Cards

In this holiday season of 2009, more and more people are putting away or even cutting up the credit cards and using cash to purchase holiday presents. Right now many credit cards issuers are raising rates and lowering credit lines. The average credit card interest...

Credit Card Cutbacks

But is it the consumers or the banks? Credit card debt, which has had a continuous rise since the Federal Reserve started tracking it in 1968 until September of 2008, is continuing now in a steady decline. At this time the average amount of revolving credit...