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Want to amuse and astound your friends? These funny and peculiar facts about credit cards, credit reports and credit scores may wow your friends. 1. Credit cards are rectangle because the world is round. You may have wondered why there aren’t…
Interest rates on credit cards are going up, making this a great time to get reacquainted with the monthly account statement. If you’re like many people – even some of my co-workers at CreditCards.com – you haven’t looked at the…
If it’s been a while since you applied for your last credit card, you could be in for a shock the next time you start comparing APRs. Average rates on new card offers have ballooned in recent years — rising from an average of 11.54 percent in 2008 to just over 14.98 percent in 2013. And, chances are, they’re just going to keep going up.
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A new study from FINRA Investor Education Foundation caught my eye with its conclusion that women with low levels of financial literacy were more likely than similarly situated men to screw up their credit card management.
My first reaction was: Not me. But, then, I’m not the typical female credit card holder and I’m definitely not financially illiterate.
The data found a half a percentage point difference in the interest rates paid by women over what men pay (15 percent for women with low financial literacy versus 14.5 percent for similar men).
Why is this? Gender is not a consideration in credit card offers or approvals — or it shouldn’t be.
The U.S. economy’s problems could make it harder for you to get a credit card, according to one chief economist.
If you recently applied for a new credit card, you may have found the bank was more likely to grant your request. And you weren’t the only one: A recent pair of reports from the Federal Reserve showed that consumers opened 10 million more credit card accounts in the second quarter of this year (April to June) as banks became more willing to approve borrowers for new credit.
But even if you’re celebrating now, don’t expect the party to last.