‘CONSUMER groups and insolvency experts yesterday hit out at Britain’s credit card industry, as a damning report found they were dishing out credit on a “lend now, ask questions later” basis.
Lenders were branded “grossly irresponsible” and calls mounted for a huge tightening up of the way credit cards are approved, as “alarming” findings showed that […]
‘Federal employees helping Katrina victims charged more than $39 million on government credit cards for disaster relief items. Congressional investigators want to make sure the taxpayers got a good deal.
And a senator, citing past abuse, wants to know whether anyone used the cards for holiday shopping.
Many of the goods, which included $60,639 for sleeping bags […]
‘DEMAND for consumer credit has tumbled to its lowest in 11 years, according to official figures released yesterday, although homeowners are again borrowing with gusto, as mortgage lending hit its highest level on record.
Britons ramped up mortgage borrowing in November, with total home loans hitting £28.2 billion, the Bank of England (BoE) said. That was […]
‘It’s a story that rings true to Chicago lawyer Jerome Lamet. His law offices are stacked floor to ceiling with tales of woe from seniors who have gone deeply into debt, mostly because of credit card use. His entire practice is devoted to helping people on fixed incomes dig their way out of a financial […]
‘GE Money announced today that its joint venture in India with State Bank of India - SBI Card - has reached the two million card customer milestone, making it a leading player in the highly competitive and fast-growing consumer finance market.
GE Money’s partnership with State Bank of India (SBI), which began in 1998, has experienced […]
‘Police said they have arrested a man who’s been using the credit card of a comatose patient.
Violinist Arthur Weinberg was found unconscious near the corner of East Fifth Street and Washington Avenue, just blocks from his home, on Christmas Eve.
He’s been in critical condition at University Hospital ever since, and police said they don’t know […]
‘US Airways is offering a new credit card with 15,000 bonus miles for activation and up to 10,000 bonus miles for transferring a balance - combined, enough for a free domestic ticket.
The US Airways Dividend Miles World MasterCard, offered through Barclays starting on Tuesday, has no annual fee for the first two years and no […]
Contrary to reports in many media outlets, an IndexCreditCards.com survey of the seven largest credit card issuers found that none is doubling credit card minimum payments. In fact, most are adhering strictly to new federal guidelines or believe that their current minimum payment formulas are adequate to satisfy the government’s desire to see credit card […]
‘After coping with a few unforeseen difficulties — like weather damage to his family’s new home and his son’s emergency room visit — Stephen Hampe found himself racking up credit card debt and struggling to make the minimum payments. Now a change in the rules governing credit cards may make things even more difficult for […]
‘What follows are facts about credit cards and debt in the United States:
Five billion credit card solicitations are mailed each year nationwide. (Source: www.cardweb.com)
About 0.4 percent of the card offers are accepted. (Source: www.cardweb.com)
Each cardholder owns an average of seven credit cards — three bank credit cards and four store or gas credit cards. (Source: […]