More young Americans – even those earning between $50,000 and $75,000 – are using payday lenders, prepaid debit cards and other questionable financial services. But there are better alternatives to those “alternatives.”
credit cards
We’re Finally Paying Our Bills On Time: Can We Stick With It?
Congratulations, America — it looks like you’re starting to get the hang of this “payment due date” concept. The number of retail credit card accounts in late-stage delinquency is at a six-year low, according to Fitch Ratings, …
U.S. Households Still Digging Out of Recession-Related Debt
After the recession, many Americans began cutting back and slowly chipping away at their household debt. Unfortunately, this noble effort seems to have tapered off, according to a new University of Michigan study. In fact, according to the study, one in every five households now owes more in credit cards, medical bills, student loans and …
Alumni Credit Card? First, Lose the Greedy Pitch
Colleges are slamming graduating students with credit card offers that sound sincere but amount to a hard sell. Yes, the right card will help build a good credit score. But watch out for the accompanying advice on how to go about it.
Mysterious Credit Card Charges: Why You Need to Check Your Bills
Do you read your credit card bill? Really look at it? Crooks are counting on that not happening.
Prepaid Debit Cards: The Lesser of Two Evils?
“I’d take the $3.95 any day over the $35 overdrafting or for some other fees.”
This statement, from a focus group participant, neatly sums up America’s evolving attitude prepaid debit cards. We don’t like the fees, but we like banks even less — and trust providers of prepaid cards more than we trust mainstream banks, according to …
College Students Are Credit Card Dunces
Even after lawmakers made it harder for banks to give college kids credit cards, credit card debt is still a big problem on U.S. campuses. A new study pinpoints the simple, frustrating reason why: Students don’t know anything …
Uh-Oh: Subprime Lending Comes Roaring Back
“Even I wouldn’t make a loan to me.” That kind of admission from a borrower ought to be a tip-off that banks shouldn’t be showering him or her with car financing and credit card offers, but lenders hungry to raise revenue are …
Occupy Wall Street Is Only Half Right About Credit Reform
Do we really want to take financial advice from a bunch of kids living in tents? Surprisingly, we just might.
First Job? 6 Critical Steps to Long-Term Security
The Class of 2012 may be surprised to hear that they need to start saving…right now. Here are 6 ways to make saving for retirement both painless and bulletproof.
Visa, MasterCard Suffered ‘Massive’ Data Breach
A security industry blog warned on Friday of a potentially “massive” data breach affecting as many as 10 million Visa and MasterCard accounts.
Credit Card Companies Offer Huge Bonuses — If You Have Stellar Credit
Credit card issuers continue to raise the stakes as they compete for customers with ultra-high credit scores, dangling sign-up incentives that can be worth more than $1,000. To get these bonuses, cardholders need to meet spending …