According to an article in the Salt Lake Tribune, since the recession began many consumers are choosing prepaid credit cards over traditional bank accounts and unsecured credit card accounts.
How It Works
The consumer buys a prepaid credit card from a retailer, loads it with money and sometimes even creates a direct deposit account with their employer. [...]

Unless you’ve been living in seclusion these past couple of months you’ve probably heard about the new credit card legislation that will prohibit or limit several of credit card billing practices that are unfair or difficult for consumers to understand.  But let’s take a closer look at one of the most important changes you will [...]

According to an article in the Market Watch, credit card consumers are launching a massive, but silent revolt against credit card companies in response to higher interest rates, outrageous fees and unwarranted cuts to their credit limits.
The article said:
“…consumers cut $11.98 billion in borrowing in August, trimming their outstanding debt to $2.46 trillion, representing a [...]

This financial crisis has brought on a slew of bank failures, credit card divestment and general changes to the lending landscape.  Already, 2009 has seen nearly 100 bank failures and numerous acquisitions and sales of credit card brands. But how do all these changes affect your credit card?  Let’s take a look:

The terms and conditions [...]

Every since the new legislation passed restricting credit card companies’ ability to raise interest rates, among other things, credit card companies have been using every dirty trick in the book to “get back” at borrowers and squeeze every cent out of them. According to an article in the Star-Telegram, some credit card borrowers are reporting [...]

According to an article in the Star-Telegram, credit card lenders such as Bank of America, Chase and Discover have switched many credit card customers from fixed rate credit cards to variable rate credit cards ahead of the new credit card legislation that will limit the credit card industry’s ability to increase rates in the future. [...]

According to an article in the Dallas Morning News, credit card companies are already backing down from marketing to youth under 21 years old as the new Credit Card Act is set to become law in Spring 2010.   The Credit Card Act will prohibit credit card companies from lending to anyone under 21 years old [...]

According to an article in the Star-Telegram, moderate House Democrats are drafting a proposal that would shield big banks from potentially tougher state regulations of credit cards, mortgages and savings accounts.
The article said:
“…their proposal, spearheaded by Illinois Democratic Rep. Melissa Bean, isn’t sitting well with consumer advocates who say banks shouldn’t be allowed to skirt [...]

We’ve all heard the saying that those who forget the past are doomed to repeat it.  An article in Investopedia.com highlights the most recent lessons from our recession.  Lisa Smith lists five basic principles that should be garnered from this financial crisis:
1.  Risk matters…but protecting what you have is just as important as trying to [...]

There be sharks out there…and they’re called debt collectors!  As the economy gets tougher and more people default on their credit cards, mortgage loans and other debt obligations, more debt collectors are crossing the line and engaging in illegal debt collection practices. If you are considering bankruptcy and have faced illegal collection actions by creditors, [...]

According to an article in the Dallas Morning News, the Servicemember’s Civil Relief Act (SCRA) provides a wide range of protections for active duty members who may be facing high interest rates on their credit cards.
The article said:
“The Servicemember’s Civil Relief Act provides a wide range of protections for active-duty military members. It’s aimed [...]

According to an article in the Star-Telegram, banks that are losing profits because of the new credit card legislation are now looking to debit cards and bank accounts to make up the difference.  The recently passed credit card legislation requires that banks give customers a choice on whether they want to opt into over-draft [...]