Posted on Thursday, 20th August 2009 by CreditCardGuru
Last week we reported that credit card debt is declining in America. The numbers for July have recently been released and show continued improvement in the number of unpaid accounts. The latest figures for net loss are as follows:
American Express: 10.18% down to 8.92%
Bank of America: 13.86% to 13.81%
Capital One: 8.82% to 8.78%
Chase: 8.04% to [...]
Tags: credit card, credit crunch
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Posted on Saturday, 24th January 2009 by CreditCardGuru
Well, now you can take comfort in knowing that you and I are not the only ones feeling the credit crunch. The mega rich and billionaires are getting squeezed too.
For a long time, James Packer was the richest man in Australia. His father, Kerry Packer, was a media mogul. They were so rich that every [...]
Tags: australia, credit cards, credit crunch, james packer, recession
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Posted on Tuesday, 30th December 2008 by CreditCardGuru
January 1st is just a day away and one thing is for sure… 2009 will be a new year in so many ways. Will the economy turn around or will it stay flat? One thing is for sure, the old days of easy credit to anything with a pulse are long gone. As far as [...]
Tags: credit card, credit cards, credit crunch, News
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Posted on Thursday, 13th November 2008 by CreditCardGuru
Just days ago we reported about a proposal by the financial institutions to set up a program which would forgive up to 40% of consumers credit card debt if they were underwater with payments.
The Office of the Comptroller of the Currency, which regulates banking, came back and said:
The agency does not consider any plan that [...]
Tags: bailout, credit cards, credit crunch, debt relief, financial meltdown
Posted in Uncategorized | Comments (4)
Posted on Sunday, 2nd November 2008 by CreditCardGuru
Banks advocating debt forgiveness? That’s a line you’d never expect to hear. But in an unusual move, banks have joined forces with consumer advocates to pitch a proposal to the government, where up to 40% of an individual’s credit card debt would be forgiven. The remainder could be repaid over several years at a favorable [...]
Tags: credit cards, credit crunch, debt consolidation, mortgage meltdown
Posted in Uncategorized | Comments (5)
