CREDIT CARD RATES » Credit Card Rates

One of the debates raging in the personal finance world is between those who believe it is possible to live without credit, and those who think that credit is necessary–especially if you want to make major purchases (like a home). Some figure that if you could just make enough money, then credit would be completely unnecessary; you could pay cash for everything.

For now, let’s lay aside the debate over what constitutes “rich.” Plenty of leaders feel that an annual income $250,000 makes someone “rich.” Whether or not you agree with that number, it makes an interesting starting point since most people in the U.S. make significantly less than $250,000 a year. And chances are that someone who fits that definition of rich does need credit, if only to buy a home.

A new report from J.D. Power and Associates found consumers have not been very loyal to their credit cards in 2010. However, this news isn’t entirely bad since credit card loyalty among consumers has managed to improve since 2009.

Satisfaction is Rebounding

According to the report released on Tuesday, consumers may be less willing to take advantage of new credit card offers than in the past. Well, that’s according to the 22 percent of consumers surveyed who said they will not be switching primary cards. Though this percentage may seem pretty low, especially in comparison to 30 percent who felt this way in 2008, it is still an improvement over the 3-year low number of satisfied cardholders in 2009.

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Ryan Guina is an entrepreneur and writer. He has worked for Fortune 500 companies and served six years in the USAF. He writes about money management and small business topics at Cash Money Life and military money topics at The Military Wallet. You can follow his twitter feed.

What’s in your wallet? That is a popular slogan created by a credit card company to get you thinking about using their rewards credit card. It’s catchy from a marketing perspective, but it is a question you really should ask your self. What is in your wallet? More importantly, what should you really keep in your wallet?

Credit card companies are tricking consumers with unsatisfactory solicitations, Senator Charles Schumer (D-NY) explained in a letter sent to the Federal Reserve on Wednesday. In his letter, he revealed that the number of professional and business credit cards sent to consumers skyrocketed in the first quarter because they don’t have to same protections as personal cards.

Are Credit Card Issuers Trying to Bypass the Law?

The debate has been going on for some time with no clear answer yet: Which is better, cash or credit cards? There are valid arguments presented by both sides, though the answer may really be subjective. Here’s a look at why some people prefer to stick with cash while others are all about credit.

The Case for Cash

This is a guest post from Mr. Credit Card of www.askmrcreditcard.com.

Credit cards are seen as an essential method of payment for the majority of Americans. Unfortunately, credit cards are not for everybody. There are two groups of people who do not possess a credit card, but probably should some day. The big question is: When do you know when you are ready for a credit card? Let’s take a look.

We all know credit card companies do their best to charge as many fees as possible. After all, it’s how they make money. From late payments to interest on outstanding balances, credit card fees can really add up.

When was the last time you combed through a statement to see exactly what types of fees you are paying? You might be surprised by the charges. The following are 5 credit card fees you may not have known you were paying:

Another portion of the Credit CARD Act took effect on Sunday, Aug. 22, improving the rights extended to consumers who own credit cards and purchase gift cards. However, despite the improved rights, a report shows that credit card rates have reached a 9-year high. According to research firm Synovate, a unit of Aegis Group PLC, rates have increased 1.6 percent in a year’s time, which is the highest increase seen since 2001.

Rates Still Rising Despite Credit CARD Act

A report from MSN Money and the Wall Street Journal has revealed student loan debt has managed to surpass that of credit cards, which is thought to be because more people are paying down their credit cards while incurring more student loan debt than before.

According to the report, FinAid.org found that student loan debt was estimated at $829.785 billion while FastWeb.com estimated credit card debt to be $826.5 billion. The amount of student loan debt has significantly increased since the recession, but was said to have already increased a lot as the cost of higher education rose dramatically over the years (MSN Money).

It may be difficult deciding between using a line of credit from a credit card or securing a personal loan of some type to help get through the rough patch when the time comes. Every now and then people need access to money quickly to cover unexpected expenses.  Each option has both advantages and disadvantages associated with them based on what you need to use the money for and how you plan on paying back the debt in general.

What Type of Loan?