As of March 1, the Consumer Financial Protection Bureau has opened a complaints department to collect all sorts of consumer gripes about their deposit accounts — checking, savings, CDs and what the agency terms “related services.”
Credit Cards
LivingSocial, the second-biggest company in the daily deal space (behind Groupon), is pairing up with Chase to introduce its own line of credit cards. But the idea isn’t as offbeat as it might first sound.
If you’re a credit card customer with an account in good standing, this is a good time to ask for a credit limit increase. We don’t want to encourage anyone to load up on more debt, but a higher credit limit can actually boost your credit score. Read on to find out what to say — and what not to say — to get more credit.
What’s in a number? When that number is your credit score, it’s the key that gives you access to credit cards, mortgages and other loans. Anything below 720 can make it tougher or more expensive to get a loan now, which means a number like 622 is bad news. Unfortunately, that’s the average credit score in [...]
Credit card issuers are still marketing aggressively for new customers, which means consumers — particularly those with good credit scores — have a lot of options if they’re in the market for a new card. Cards with rewards programs that let consumers earn cash back for their purchases are the most popular type, according to [...]
Parents have been paying their kids an allowance since the Industrial Revolution on the theory that it will help kids better understand budgets and spending choices as adults. Now a prominent academic says it’s all been a waste of time
Online auction powerhouse eBay, owner of PayPal, thinks there’s room for one more competitor to bank-issued debit and credit cards with a logo such as Visa or MasterCard on the front: The company is rolling out PayPal in brick-and-mortar retailers around the country.
While your finances might not be the first thing that springs to mind as Valentine’s Day approaches, your credit can be affected by your partner’s history and spending habits. Credit counselors advise couples to sit down together and disclose their respective debts before they get serious. That might not sound like the most romantic date [...]
Some people think the United States should cap the interest rates credit card companies are allowed to charge, but the prospect of maximum APRs doesn’t sit well with some lawmakers, not to mention the financial services industry. But banks here might want to take note: The United Arab Emirates, a place infamous for its sky-high [...]
One of the biggest debt collection companies in the country recently agreed to pay a $2.5 million civil penalty in a settlement with the FTC — part of an escalating effort by the agency to keep tabs on and, when necessary, rein in the burgeoning bad-debt industry.
Following the Great Recession many young people have become not merely respectful of debt, as we would wish; but fearful of it, which could set them back.
