Credit News

Credit News

Credit Card Bill: Consumers with Good Credit May Bear its Burden

The Credit Card Act of 2009 certainly had good intentions to protect the average consumer from unfair practices that have plagued the credit card industry for years. However, it may not be all good news - especially for credit savvy consumers who have mastered the art of the credit game and learned how to use it to their financial advantage.

The Return of The Annual Fee

A couple of weeks ago President Barack Obama officially signed into law a bill that will change the credit card industry forever. Now, the main problem remaining for consumers is that most of the new rules don't actually take effect until February of next year.

New Rules Restrict Credit for Students

You can buy cigarettes, porn, lotto tickets, and even a gun when you turn 18. Of course, you can vote and join the military without parental consent as well. But according to new rules recently signed into law by President Obama, you're not responsible enough to use a credit card without getting mommy or daddy's signature first.

New Credit Card Rules Target


We've all seen the "Free" credit report commercials before. Some love them, most despise them.

But whatever your opinion is of's advertising tactics, there's no denying how difficult it is to get the catchy jingles out of your head. It's crazy how those melodic rhymes can just find a little crevice in the mind, set up camp, and stick around for days on end.

Fed Says Fewer Banks Tighten Credit

Is the worst of the credit crunch behind us? According to an April study conducted by the Fed, which surveyed more than 75 domestic and foreign banks regarding their lending practices to businesses and consumers, there are some leading indicators that credit markets are beginning to loosen.

Young Money Fights for Financial Literacy


Our friends over at are taking great strides to further promote financial literacy among young adults. As part of a recently announced Financial Literacy Program, Young Money is partnering with multiple universities and businesses to deliver co-branded magazines, both online and offline, to students and young employees.

Enter to Win $500 from!


According to a study published by Nellie Mae (2005), 56% of undergraduate freshman obtain their first credit card at age 18. Unfortunately, most fail to receive any education about how credit works or what it takes to build a solid credit history after the card arrives in the mail

Credit Card Fees Now Deductible When Paying Uncle Sam

Uncle Sam

Have you avoided paying your tax bill with a credit card because you just couldn't bear paying any more than you must to anyone on April 15th? I suspect many of you fall into this category, as do I. Even if the dollar amount is small, the thought of paying an additional 2.49% to cover the fee charged by credit card companies always makes me cringe. So, I continue to pull out the trusty checkbook, dust it off, and write one of the handful of checks I send out each year.

Consumers Pay the Price of Loyalty

I confessed in an earlier post, "Use 'Em or Lose 'Em", my obsession with stockpiling reward points and airline miles. There's just something strangely comforting about hoarding hundreds of thousands of points and miles to redeem whenever the urge arises.

The problem is all these points seem to be losing value faster than my stock portfolio lately! And it looks like reward programs will continue to be a prime target for more aggressive cuts in 2009. So, if you've been hoarding points for years in preparation for that "big-ticket" purchase, it's time to rethink your strategy.

Hackers Outsmart Heartland

Heartland Payment Systems, one of the largest credit card processors, recently announced a security breach that may end up putting the TJX fiasco to shame.


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