CREDIT CARD RATES » Credit Card Rates

Credit card rates could reach as high as 59.9 percent, according to a new CNN Money article that explored the one down side of the Credit CARD Act: Interest rates. The article revealed that credit card rates are now hovering at near-record highs, averaging as much as 14.72 percent. However, for new customers with poor credit, rates could soar significantly higher because this is one area that the act did not touch on.

No Limits on Rates for New Customers

Paying back loans was a struggle for many American consumers in 2010, according to a new report from the American Bankers Association (ABA). The report, released on Tuesday, revealed the overall loan delinquency rate jumped in the third quarter. This was the second straight quarter to see increases.

Loan Delinquency Rate Jumps to 3.01 Percent

While 2010 marked the end to a very fascinating decade, the year itself did have its own shares of ups and downs. Looking back at some of the biggest 2010 stories, you’d see the economy and stock market carried over some momentum from last year’s recovery effort, and the recession was declared officially over. On the other hand, unemployment still hovered around 10 percent, the housing market failed to bounce back and Americans are slowly starting to spend again.

There were also major cultural events that didn’t really a direct personal finance impact on 2010, but did take hold of the nation’s attention. You may remember the NBC late night fiasco where Jay Leno and Conan O’Brien tussled over The Tonight Show. There was Avatar, which led to a flood of 3-D movies. The Apple iPad was introduced, and Larry King abdicated his throne on CNN.

We’ve watched the quick rise and fall of the Kardashian Kard, a prepaid credit card that was promoted by the Kardashian sisters, only to be pulled from the market after a few short weeks. So why was this card considered  to be predatory, and even when dealing with legitimate credit products, is it ever a good idea to allow type of card–or even a standard credit card–to be used by children? If so, how young is too young?

Why the Kardashian Kard Was Considered Predatory

Christmas time is here, and with it comes one of the biggest personal finance challenges of the year. How do you juggle all the holiday costs and not look like a Grinch? It can be hard to maintain your frugal senses when everyone around you is into the spirit of giving, but just because you show your generous side doesn’t mean you have to go broke doing it.

Every year, millions of people make the same Christmas money mistakes that seem great but leave a horrible holiday hangover to kick off the new year. This year, avoid these common missteps lest you want your finances to be haunted by ghosts of Christmas past:

This post comes from Michael, chief editor of DoughRoller.net, which helps consumers find the best online banks available today.

Don’t worry, we’re not pitching a scam. This article isn’t about creating a new credit card from scratch, just designing a cooler credit card than one you have in your wallet right now!

Image: fieldsy.org via Flickr

The controversy revolving around international media site Wikileaks is escalating quickly as supporters sent a shot across the bow to Mastercard, successfully taking down the credit card company’s website. The cyber attack was a direct retaliation of the credit card company refusing to process donations to Wikileaks. However, Mastercard isn’t alone. The “hacktivists,” operating under the group label “Anonymous,” also targeted transaction processing site Paypal just a few days prior for the same reasons.

This article was written by Odysseas Papadimitriou, CEO and Founder of Card Hub, an online marketplace for credit card applications.

If you are looking to acquire a rewards credit card, you must realize that not every option within this credit card category is created equal, at least not for each individual user. In fact, there are intricacies within this card type that can make or break the overall benefit one garners from the use of such a card. The first thing that you must understand about rewards credit cards is that they are broken into two primary groupings: Points/miles and cash back.

This is a guest post by Jason D. Steele, who has been a personal finance writer for Ask Mr Credit Card’s Blog since 2008. He also hosts his personal blog, Steele Street, where he writes about travel, aviation and consumer issues. You could also follow him on Ask Mr Credit Card’s Twitter.

It is a common question among those who write for travelers: Are frequent flier miles worth the hassle? Like most broad questions, the answer depends on who is doing the asking. Certainly if you have unlimited money, the answer is no, they are not worth the hassle–don’t bother to give out your frequent flier number, don’t track your points and don’t jump through hoops to redeem frequent flier tickets.

Photo by David Shankbone @ Flickr

If they didn’t know by now, the recent release and immediate termination of the Kardashian Kard reminded consumers that their children aren’t safe when it comes to money. No matter how diligent you may be in personal finance, retail businesses will find a way into your wallet, even if it means going through your kids.