Credit Card Debt
Your Two Cents: How Deep Is Your Debt?
While exploring resolutions that can help save money I learned the average American owes $8,329 in debt, according to a 2009 survey by The Nilson Report. No matter how you look at it, that's a lot of due cash, but still less than the average student loan debt of $10,000. How far in the red are you?
Get a Handle on Your Credit Card Debt With a "Clean Card"
If you’re like millions of other Americans, one of your resolutions for 2010 is to get on top of your credit card debt. Paying it all off in one fell swoop would be the ideal way to go about it, but unless you also plan to win the lottery this year, that’s probably not an option. Author Bob Sullivan has a completely doable suggestion for wrapping your head around your credit card debt and paying it down quickly.
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.
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