GOBankingRates

All you need to Know About Credit Card Debt

Visa Hosts Financial Literacy Summit Yet Profits Off Debt

Financial literacy + VISA = A contradiction in terms?

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One Upside to the Recession: Huge Decline in Credit Card Debt

U.S. credit card debt has dropped sharply around the country as consumers make a greater effort to spend cautiously and pay off balances, according to a new report from Equifax. In fact, the credit reporting agency found that the biggest declines were seen in areas hardest hit by the recession.

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Women and Debt: Ditch the Credit Card to Start Saving for Retirement

For many of us, credit card debt can be an overwhelming source of financial stress. It can be difficult to keep up with minimum payments each month and it becomes hard to stay ahead when we rely on credit cards as a fall-back for monthly spending. If you are a woman who struggles with credit...

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Current Statistics about Credit Card Debt

In Women and Debt: Ditch the Credit Card to Start Saving for Retirement, Jenny Kerr of TheJennyPincher.com explains that women face unique challenges when it comes to reducing credit card debt and putting money toward their retirement funds. Here are the statistics used in the article–read on to learn more about a particular fact: Credit...

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Consumers Choose to Pay Credit Card Debt over Mortgage Loans

Mortgage payments are taking a back seat to credit card debt according to a new report released by TransUnion this week. The report found 7.24 percent of those who have at least one credit card and a mortgage loan were 30 days late on the mortgage but current on the credit card in the fourth...

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National Credit Card Debt Drops, Though Some Cities See Huge Increases

While the national average for credit card debt dropped 4 percent at the end of 2010 compared with the previous year, some cities experienced sharp increases over the same period, according to a report from Experian. The report shows the average cardholder owed more than $4,200 in credit card debt last year while, cities like...

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Out of Debt, but Not Out of the Woods

Feeling relieved after finally settling your credit card debt? Fantastic–but you’re not in the clear yet. It turns out, according to the IRS, your forgiven debt counts as income. Many taxpayers who think they’d seen the last of their debt are slapped with a 1099-C form come tax time. What is a 1099-C Tax Form?...

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Why Falling Into Debt Is Easy but Getting Out Can Be So Hard

Before signing your name on the dotted line of a credit card application, mortgage document or car loan agreement, wouldn’t it be great to have a warning message appear before your eyes that read “Wait! Your Credit Could Get Be Destroyed and You Could Fall Into Debt If You Sign Your Name!”? Unfortunately, we don’t...

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