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 [...]

It’s time to face the ugly reality of this foreclosure crisis, the administration’s Making Home Afford­able program had failed terribly.  Not only have we not stopped the foreclosure crisis, it has worsened.  The program was supposed to help 3 to 4 million Americans facing foreclosure; but so far only 360,000 homeowners have received mortgage modifications [...]

According to an article in the Star-Telegram, the Better Business Bureau is warning consumers away from using debt settlement companies, which often worsen their financial condition and fail to deliver on their promises.
The article said:
“The Better Business Bureau at Fort Worth has just completed a report on debt settlement businesses and warns consumers that [...]

There’s an interesting article in the Star-Telegram about the increase in the number of peer-to-peer loans for college students.  The author cites a contraction of student loan lending and restrictions on credit card lending to students as a major factor contributing to the uptick in the number of peer-to-peer loans amongst college students.
The article [...]

According to an article in the LATimes, Downey Regional Medical Center filed for Chapter 11 bankruptcy, stating that it would use bankruptcy to get out of “money-losing” HMO contracts.
They article said:
“The private, not-for-profit, 199-bed hospital said that it expected to emerge from bankruptcy within a year and that all services would remain [...]

According to an article on Reuters, the recent recovery in the credit markets might be in trouble.  The Federal Reserve is getting some of the credit for the rebound by helping the credit markets recover.  One program that the Fed used to get credit flowing again is the Term Asset-Backed Securities Loan Facility, or TALF.  [...]

Many people ask me about discharging student loans when they’re looking into filing for bankruptcy.  Typically, student loans aren’t discharged during bankruptcy proceedings.  It’s not impossible to accomplish if you can show that paying the student loan debt “will impose an undue hardship on you and your dependents”.  Bankruptcy judges use various tests to determine [...]

Repairing your credit by reviewing your credit report.
Graduation from high school or college usually comes with a relief that you no longer have to struggle to “make the grade.”  That bubble bursts, though, when we discover that our credit report essentially serves as a continuing report card.  Once your credit GPA drops, it can be [...]

Credit card companies may be forced to cut rewards to once again become profitable.
An article on Reuters.com said that credit card companies are cutting back on rewards.  The changes are a result of falling revenue.  One reason for falling revenue is recently passed and currently pending legislation that will put regulations on credit card companies.  [...]

Consumers affected by drastic changes in credit ratings.
More and more people are receiving the pink slip, but not just from employers.  It seems that the credit card companies that were once so eager to be your friend and trusted financial advisor are also letting people go, or at least significantly reducing the welcome status of [...]