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Credit Card Debt
Ask Savvy: Should I Reopen My Card After Being Deep in Debt?
Dear Savvy,
I've just paid off one of my credit cards that was in the Debt Management Program through a credit counseling service, which is something I'm proud of! It's nice to have accomplished that! The only issue is, I got a letter from that company offering to reopen the credit card line since I paid everything off.
Goodbye Free Stuff, Hello Better Credit Card Practices
Times have changed since I was in college, and I'm not just referring to the escalating cost of tuition. Banks hawking everything from free t-shirts and water bottles to free pizza used to set up their tables around the university center attempting to attract unknowing students to sign up for credit cards. As of February 22, 2010, those banks won't be allowed to coerce young adults with free stuff in exchange for completing credit card applications.
Average Household Credit Card Debt: Guess How Much
We've come a long way in actively managing our personal finances, but there are still plenty of Americans laden with consumer debt. Can you guess how much credit card debt the average household is carrying? Take the quiz!
Ask Savvy: Should I Transfer My Debt Balance to a 0% Card?
Dear Savvy,
I have two credit cards with high interest. Should I pay them off with my one card that has zero percent interest to reduce paying over $750 annually in finance charges?
Savvy says: I'm assuming by "paying them off" you mean transfer your existing balances to an introductory rate, zero percent card.
Has Your City Cut Back on Credit Card Spending?
Spending less is the quickest way to boost your savings account, and some places in the US have shown a true change in habits since last year. In fact, the U.S. personal income savings rate increased to 6.9 percent from 0 percent the year before.
Money Tip: Check in With Your Credit-to-Debt Ratio
The biggest factor in your credit score is your payment history; at 35 percent of your score, punctuality has never been so important. While paying on time should be your number one priority in raising your number, you need to simultaneously work toward improving the second biggest factor in your score: outstanding debt. It accounts for 30 percent, so whittling down your debt will have a big impact on boosting your score.
Do You Have More or Less Debt Than One Year Ago?
Source
Do You Have More or Less Debt Than One Year Ago?
I have more debt now than I did a year ago. I'm working on it!
Guess How Much Credit Card Debt: Oprah's Audience
Oprah's "Best Life Week" is coming to a close today, and yesterday's show was "Money Day" featuring Suze Orman. On their way into the show, audience members were asked how much credit card debt they had and 225 people admitted to having this type of debt.
Oprah's team then totaled the numbers submitted by the in-debt audience.
CNBC's Money Honey Doesn't Have a Credit Card
What's one way to make sure you never go into credit card debt? If you never have one in the first place. Ellen DeGeneres couldn't believe that CNBC's Maria Bartiromo, a.k.a.
Maxed Out: $78,000 in Debt and No Mortgage
This episode of Maxed Out is about Christine and Ross, a couple in so much debt that it's extremely difficult for them to keep things afloat. Christine can't even speak without crying because she's so distraught and stressed over their financial situation. They are the only couple among their friends who are still renting, and their dream is to have a home and children.
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