Consumers reversed trend of missed payments, opened more accounts

The rate at which consumers were significantly past due on their credit card accounts slipped in the first quarter of the year to a low, and the average amount owed on all accounts declined as well, even as more borrowers obtained new cards. The credit card industry continued to move in a positive direction across […]

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Some worry over spending on mobile wallets

In recent months, there has been a lot of discussion about the inevitability of consumers adopting mobile wallet systems to make their everyday purchases instead of using traditional credit cards, and now some experts say there might be drawbacks to such a change. Mobile wallet systems, which use smartphones with special technology embedded in them […]

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Banks could push for more business purchases on personal cards

In recent years, new laws have made the difference between credit cards for personal and business use quite stark, but banks may soon start encouraging consumers to make company purchases on their own accounts. Today, about 21 percent of credit card users make business purchases as part of their job, up from 17 percent in […]

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Charge offs increased for major lenders in April

In the last few months, consumers have been quite conscientious about trying to make sure their credit card bills were paid on time and in full, but that habit lapsed somewhat in April, leading to an increase in defaulted accounts. Credit card charge offs, accounts that are considered by lenders to be so far behind […]

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Rewards credit cards remain extremely popular

In recent months, many Americans have tried to be more conscientious in keeping their debt under control, but at the same time, credit cards that grant consumers rewards for every dollar they spend have remained extremely popular among borrowers. These days, more banks are marketing their own rewards programs instead of branching out and offering […]

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Mobile wallets the wave of the future in credit card payments

In recent months, a large number of companies have turned their attentions to developing mobile payment systems that allow users to make credit card purchases using their smartphones, and soon, a large number of those platforms will be made available. Though Google Wallet, the purchasing option from the Web giant, was launched earlier this year, […]

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CFPB still working toward simpler credit card disclosures

The federal agency in charge of helping consumers better protect their finances has tackled a number of issues that have been able to aid Americans, but it has also not taken its eye off one of its first priorities, which has yet to be fully worked out. One of the first orders of business for […]

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Mobile credit card options a major focal point for developers

Companies in a wide range of different industries appeared at a recent cellphone industry trade show, and seemingly all anyone in attendance could talk about was the coming wave of digital payments across a number of platforms. There are a large number of companies that are working to develop systems that allow consumers to use […]

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Consumers may spend more when making contactless payments

There has been a lot of effort on the part of a number of companies in recent months to develop and promote contactless payment platforms that allow consumers to make purchases without swiping their credit cards. However, this may lead to higher spending for borrowers. Within the first 12 months of a person making their […]

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Consumer credit card defaults may start rising again

In recent years, as the national economy continued to improve and consumers began to regain their financial footing, instances of late credit card payments have been declining significantly. But now experts say that trend might end up reversing itself in the near future. Currently, the nation's largest credit card lenders are enjoying near record low […]

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