Posts tagged "credit card"

If Amy Poehler steals your credit card

Seth Meyers shows consumers exactly what NOT to do if their credit card is stolen or compromised.
Bankrate.com » Credit Cards

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Posted by CCB - May 7, 2014 at 6:00 am

Categories: Credit Card News   Tags: Amy Poehler, card, Credit, credit card, Poehler, Seth Meyers, steals

More credit card breach updates

Chase replaced 2 million debit and credit cards after security breaches at major retailers.
Bankrate.com » Credit Cards

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Posted by CCB - January 16, 2014 at 1:33 pm

Categories: Credit Card News   Tags: breach, card, Credit, credit card, credit cards, more, updates

The lure of credit card mailings

Why are credit card mail offers better than ones advertised on a credit card issuer’s website?
Bankrate.com » Credit Cards

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Posted by CCB - January 9, 2014 at 7:00 am

Categories: Credit Card News   Tags: card, Credit, credit card, credit card issuer, lure, mailings

The 3rd day of credit: DIY

If your credit card is getting too much use this holiday season, maybe it’s time to make some presents to save money.
Bankrate.com » Credit Cards

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Posted by CCB - December 21, 2013 at 7:00 am

Categories: Credit Card News   Tags: Credit, credit card, holiday season

The 5th day of credit: Cash

If your efforts to keep the holiday spending under control have failed, ditch the credit card.
Bankrate.com » Credit Cards

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Posted by CCB - December 19, 2013 at 7:00 am

Categories: Credit Card News   Tags: cash, Credit, credit card, credit cards

Pay mortgage or credit card?

Americans place the same weight on paying home loans as credit cards, a new trend.
Bankrate.com » Credit Cards

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Posted by CCB - September 29, 2013 at 6:28 am

Categories: Credit Card News   Tags: card, Credit, credit card, credit cards, mortgage

Why credit card APRs are still high

While interest rates have been historically low that hasn’t been the case for credit cards. Since the first week of January, the annual percentage rate, or APR, for variable-rate credit cards has increased from 14.56% to 15.31%. Variable rates are common for credit cards.

Meanwhile, home equity lines of credit and new car loans saw record lows earlier this year. A 30-year fixed home mortgage rate, while above its record low of 3.5%, is now hovering around 4.6%, still low by historical standards.

Three are three main reasons for the high rates on credit cards and they involve the type of debt, government legislation and consumers.

1) Generally, credit card rates will always be higher than those of other loan types because credit card debt is unsecured. Mortgages are backed by houses, and auto loans are secured by cars. The risk for credit card issuers is higher.

2) Legislation has also been an issue, specifically the Credit Card Accountability, Responsibility and Disclosure Act of 2009. The CARD Act included: No interest rate increases in the first year, increased rates don’t apply to new charges, caps on penalty fees, elimination or limitation of other fees, and a restrictions on billing and payment practices. To recoup the lost income, companies started raising interest rates and annual fees.

3) Consumers are also to blame. Many credit cards come with a range of APRs. Which one a consumer gets depends largely on their credit score. Those with a great FICO credit score, generally above 720, get an interest rate between 10% and 15%. Those with credit scores between 680 and 720 will receive an APR between 15% and 20%. Credit scores between 620 and 680 will probably get an APR in the 20s.

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Posted by CCB - September 17, 2013 at 8:51 am

Categories: Information   Tags: credit card, credit cards

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