Negotiation may help lower your credit card payments
High-interest credit card debt is one of the most common types of balances consumers carry. Its also one of the most expensive and financially damaging, because heavy interest charges make it more difficult for cash-strapped individuals to eliminate their balances, even when they are doing everything right.
Consumers who are following a strict budget and paying more than the minimum payment, but still find themselves unable to make a dent in their credit card balances, have other options. One of the lesser-known actions borrowers should consider is contacting their card issuer and negotiating their credit card rate. The credit card industry is a competitive market and more lenders are open to extending better terms and conditions in order to retain customers. Many lenders are more willing to help consumers chip away at their debt than they may initially seem, but few adults are aware that they have the right to negotiate their rate. Read more…
Burdened With Credit Card Debt?
Did you wake up this morning worrying about paying creditors? Many Americans are in the same position as you and it is not a good place to find oneself day after day. Heavy credit card debt can eat away at a healthy life and family. Is this happening to you? Are you searching for answers?
It may well be that there are options other than bankruptcy, the most thought of option because it is one consumers understand. It is supposed to wipe the slate clean and offer a fresh start, but it doesn’t always work that way these days. Not only is your home completely safe, but you may not even be able to qualify for this court dictated means of eliminating debt.
Fortunately, hundreds of thousands discover debt settlement before they try to take the bankruptcy step and it makes a big difference in their lives. By
Credit card images seen as possible mobile payment solution
Consumers who are worried about being hit with fraudulent credit card debt may be interested to learn about a new mobile payment system being shown off by a global card issuer.
CSI GlobalVCard, which issues MasterCard-branded debit and credit accounts, recently unveiled its new virtual credit card payment system at the latest Consumer Electronics Show in Las Vegas, according to a report from InformationWeek. This system allows consumers to create unique account numbers and have digital credit card images bearing those details emailed to them so that they can be displayed to a cashier when completing a transaction.
The security of this platform comes because consumers can customize the credit limits and expiration dates on each new account they create as debt prevention steps, the report said. Read more…
More consumer credit card use expected during holiday season
Most consumers tend to spend more when the holidays roll around, and now a greater number will take on credit card debt when shopping online, instead of using their debit cards.
Consumers who are generally feeling better about their finances in the wake of the recession are more likely to use their credit cards than they have been in the past few years, and online purchasing ahead of the holidays will likely see an even greater shift toward that payment method, according to the latest Online Retail Payments Forecast from Javelin Strategy and Research. In addition, they will likely spend more on their credit cards to make a single purchase than they would with debit.
The average online credit card purchase now amounts to $82.10, while the average debit transaction costs $58.29, the report said. Read more…
2 Ways to Consolidate Credit Card Debt
Has the economy taken a toll on your finances? Maybe you have several credit cards that are maxed out due to the bad economy. Well, you are not alone believe me. It can become very stressful when you can’t make your payments, or maybe your only able to pay the minimum payment but because of the interest rate, over the limit fees, late fees you just can’t get ahead.
Debt Consolidation can help. It can also help to avoid filing bankruptcy. There are several ways to go about debt consolidation, one form of debt consolidation is to go to your local credit union or your local bank and see if you qualify for a low interest loan, you only borrow the amount that it will take to pay off all your credit cards or other debt. Then you will only have the one payment every month instead of 5 or 6 payments. If the loan is to pay off high interest credit cards then you want to make sure that the loan you are getting is a much lower interest rate.