Every time someone used a credit card to pay for a drink at Westside coffee shop Agia Sophia, credit card companies charged the business up to 50 cents, plus a percentage of the sale, just to make the transaction.
“When someone is charging a $3 cup of coffee, that’s a lot,” said owner Kristin Kennedy.
That prompted [...] [...]
The amount consumers owed on their credit cards dropped to its lowest level in eight years, as cardholders continued to pay off balances in the uncertain economy.
The average combined debt for bank-issued credit cards – those with a MasterCard or Visa logo – fell to $4,951 in the second quarter, down 13 percent from $5,719 [...] [...]
Colorado and Hawaii had the highest per-capita credit card debt in the nation during March, according to Credit Karma Inc.
The states’ average balances were more than $9,200.
Nationwide, the average consumer had $8,010 in credit card debt in March, as well as $179,810 owed on home mortgage loans and $14,898 in auto loans among consumers who had [...] [...]
Since early 2008, consumers and businesses have become more aware of their financial excesses. Although it’s never too late to rein in one’s excesses, it is certainly overdue for many Americans.
“I’ve seen a lot of people going back to basics in the last year and a half,” said June Walbert, certified financial planner practitioner with [...] [...]
by Associated Press Published: May 20,2009
Tags: credit card
WASHINGTON (AP) – The credit card companies seem to have few friends on Capitol Hill these days, with even the most business-minded lawmakers siding with consumers in speaking out against steep rate hikes and fees.The House was expected to pass, possibly as early as today, a bill that would enact sweeping new restrictions on the [...] [...]
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