Blog sponsored by Bankrupt-Law.com
The credit card industry mailed out a record 6.06 billion solicitations in
the U.S. last year, according to the McClatchy Newspapers. About 18 million
offers, or about 0.3 percent, were accepted, which was a record low.
Recognizing the need for better bait, credit card companies are increasingly
offering rebates or rewards to entice new customers. "If you have a high
bill that you can't repay at the end of the month, the whole point of
earning ... more »
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Tuesday, July 11
CREDIT CARD COMPANIES LOOK TO ENTICE MORE CUSTOMERS
by
BK Blogger
on Tue 11 Jul 2006 04:05 PM PDT
BORROWING RISES AS CREDIT CARD USE JUMPS
by
BK Blogger
on Tue 11 Jul 2006 04:04 PM PDT
Blog sponsored by Bankrupt-Law.com
The Federal Reserve reported yesterday that borrowing by consumers rose in May for the seventh consecutive month as credit card and other types of revolving debt jumped by the most since October 2004, Bloomberg News reported yesterday. Consumer credit, or non-mortgage loans to individuals, rose $4.4 billion, or 2.5 percent at an annual rate, to $2.174 trillion. The figures suggest that Americans are using their credit cards to finance more purchases as rising interest rates and ... more »
Debt Trap; Some credit counselors leave drowning debtors in worse shape than before
by
BK Blogger
on Tue 11 Jul 2006 08:43 AM PDT
By ROSALIE RAYBURN Illustration by CATHRYN
CUNNINGHAM Of the Journal
Advertisements that offer to repair damaged credit can look like a lifeline to a consumer drowning in debt. Bankruptcy statistics show that the loss of a job, a health crisis or a divorce can swiftly turn the tables on a healthy financial situation. But all too often, people who seize at creditrepair promotions, hoping for relief, end up worse off than they started. In 1951, a group of credit companies ... more » |
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