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Daniel P. RayI'm Daniel P. Ray, CreditCard.com's editor in chief, and I've been writing and editing consumer-oriented stories about personal finance -- especially debt-related issues -- for about 10 years. Before joining CreditCards.com in July, 2007, I was an editor at Bankrate.com, including six years as editor in chief...
Millions of Americans get Social Security payments but have no bank accounts. Under a program announced Friday, the federal government would give these "unbanked" Social Security recipients the option of withdrawing their benifits via a new debit card.
Maybe only some chunks of the sky are falling. The American Bankers Association today released its quarterly study of consumer borrowing, and despite an overall gloomy picture, credit card delinquencies were down.
You knew this had to happen: A South Korean bank has issued a combo contactless credit card / USB device to make it easier and faster and more secure to spend your money.
The U.S. lost a round Friday in its effort to clamp down on people who sit at home and use their credit cards to gamble on the Internet. In an unusual ruling, the World Trade Organization ruled against the U.S. and in favor of the offshore gambling haven of Antigua. The odd part: The ruling OK'd piracy.
Congressional heat on the credit card industry just turned up a notch. A key congresswoman is floating a bill that would abolish many of the card issuers' practices that consumers find most offensive, including double-cycle billing, universal default and hiding rate changes in tiny type.
What do you think people do with tax rebates, repay credit card debt or spend the money? In a newly released paper from the Philadelphia Federal Reserve, three economists find that most of us saved a little and spent a little. But the picture was worse for one group of people: Those nearly maxed out on their credit cards. For them, it represented an opportunity to rack up more debt.
A slew of "convenience" checks in the mail remind me that shredders are a thoughtful holiday gift.
New research says that person-to-person "social lending" will grow, grow fast, and that one of the major sources of demand for the loans will come from people who want to pay off credit card debt.
That's good news for consumers, because more competition for card customers will exert downward pressure on everyone's credit card rates. |
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They're the pieces of plastic we love, and love to hate. Get the latest news, tips, research and more from the CreditCards.com staff.
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