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The law known as the Credit CARD Act implemented a number of restrictions on credit card fees. This week a federal judge stepped in to stall the effective date of one of those fee limits. A quick recap of events: One of the provisions in the Credit Card Accountability, Responsibility and Disclosure Act of 2009 limited
If you have no credit and wanted to establish it, you could start with a secured credit card or store card and build a good credit score over time. But what if you didn’t want to take on any debt? Enter RentReporters.com, a new service that validates your rent payments with your landlord and reports
One little paragraph in President Barack Obama’s deficit-reduction plan could make it easier for federal debt collectors to reach delinquent consumers. The Huffington Post reported that on page 28 of the proposal was a section that would allow federal agencies to call people’s mobile phones to collect debts owed to or guaranteed by the federal
You may know your own credit score, but did you know that current regulations and recent trends in the financial industry are changing the way your score is viewed, disclosed and even computed? For instance, new risk-based pricing rules that took effect Jan. 1 require lenders to provide certain disclosures to consumers when they apply for
On Wednesday next week, I will be hosting a live chat about rewards credit cards with Greg McBride, CFA and senior financial analyst at Bankrate.com. If you’d like to watch or ask a question, please tune in here at 1 p.m. EST, March 16. The chat will last 30 minutes. What would you like to know
Did you rack up a lot of holiday debt on your credit cards? If so, you’re not alone. The average person owed more than $4,200 in bankcard debt at the end of 2010, according to research released Wednesday from Experian, one of the three major credit-reporting agencies. On the bright side, December credit card debt
One year ago, many provisions of the Credit Card Accountability, Responsibility and Disclosure Act of 2009 took effect. In conjunction with a conference marking its anniversary today, the Consumer Financial Protection Bureau, the new consumer watchdog agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, released a report on the impact of the
Ever paid a fee to make a payment on one of your credit cards? In years past, card issuers could charge a fee for the payment method used by the consumer. The Credit CARD Act, short for the Credit Card Accountability, Responsibility and Disclosure Act of 2009, seemingly banned most pay-to-pay fees, whether the consumer
Carry a balance on your credit card? Some issuers are marketing new credit cards that offer rewards for paying down debt, Smartmoney.com reports. The article “Can Credit Cards Help You Manage Money?” highlights several cards that reward good payment behavior. Bonus for paying some, not all of the debt: TD Bank’s TD Payment Plus Credit Card
Until very recently, paying your rent on time didn’t help you build or establish credit. The reason: positive rental payment data didn’t show up on your credit reports. This month, however, Experian, one of the three major credit-reporting agencies, announced that it is has begun incorporating positive rental payment history into its consumer credit files. Experian
