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Credit Card Facts and Stats. Americans owe approximately $850 billion in revolving credit card debt.• As of 2007, 73% of all American households had credit cards and 60% of these households carried a balance. The average balance for households that carried a balance was $7,300, up 30.4% from 2004.• Low- and middle-income households have an average of $8,650 in credit card debt. • The total amount of credit made available by issuers in 2007 was about $5 trillion, or $43,007 per household.• Even as the economy worsens, Americans continue to be inundated with offers of credit. In 2008, issuers sent 4.2 billion credit card offers in the mail – nearly four times as many as the 1.1 billion sent in 1990. Read the rest of this entry »

2009 Small Business Credit Card Survey. Small business credit-card acceptance is on the rise. Back asked in December 2008, 49 percent appear application acclaim cards in the accomplished 12 months to accounts their firms. In late April, however, that cardinal jumped to 59 percent. This access is occurring admitting a rise in the cardinal of baby businesses advertisement deepening credit-card terms. Asked to evaluate their credit-card agreement over the after most bristles years, 79 percent appear worsening terms—up from 69 percent in December 2008. Even added eye-opening: back asked if their credit-card agreement had worsened in the after most six months, a whopping 75 percent reported that they had. Read the rest of this entry »

Credit Card Tips For College Students Making Credit Cards Work for You
Now that you’re a college student, you’ve probably heard from a lot of credit card companies offering you what seems to be a great credit card deal. While having and using a credit card wisely is a common tool to build a good credit history, falling into a credit card trap can ruin your credit for a long time. Why should this matter? Credit card companies have been successful in aggressively marketing credit cards to college students. According to a 2005 study published by Nellie Mae, a student loan company: Read the rest of this entry »

Credit cards offer many features. There is the convenience of being able to buy needed items now and the security of not having to carry cash. You also receive fraud protection and in some cases rewards for making purchases. With these advantages also come responsibilities. You need to manage credit cards wisely by understanding all of the card’s terms and conditions; staying on top of payments; and realizing the true cost of purchases made with credit. Using a credit card is like taking out a loan. If you don’t pay your card balance in full each month, you’ll start paying interest on that loan Read the rest of this entry »