Consumer borrowing has fallen to record lows in wake of the 10 percent unemployment rate, but spending may still return to levels seen before the economic downturn, said personal finance expert Stacy Johnson.
Five Tips including this: Since you will likely have 2-4 decades before you'll need this money, consider investing 70%-80% in equities/stocks. Do not be too conservative with your allocation.
Credit card companies are making major changes to customer agreements that could mean new fees and lower credit limits. Not being aware of the changes could prove costly or even embarrassing.
An increasing number of Americans are dissatisfied with their banks and are joining credit unions, which offer most of the same products and services, sometimes at a better price.
If you carry a balance on store-brand cards or if you miss a payment on your no-interest purchase, you can end up wiping out those initial savings, and then some, the NY Times reports.
Making a New Year's resolution this year? If you are, there's a good chance that this year's pledge will be focused on improving your finances.
Bank of America is sending its credit card customers a one-page letter with a simple explanation of the interest rates and fees they're being charged starting Monday.
Stocks snapped a three-day losing streak Monday after an encouraging report on existing-home sales and a pullback in the dollar.
Stocks rallied Monday after an encouraging report on existing-home sales and a pullback in the dollar.
Stocks opened higher Monday as the dollar pullled back and gold hit a new record above $1,170 an ounce. The Dow was up more than 100 points at the open and continued higher after a report showed a sharp jump in existing-home sales.
A holiday-shortened trading week begun with all signs pointing to a higher open for Wall Street on Monday, with the dollar weakening and gold hitting a new record high above $1,167 an ounce.
For the first time in a decade, more people paid their credit card bills on time in the third quarter this year than in the second quarter.
Major retailers and card companies are reporting credit card data for October...with mixed results.
Banks are struggling to make money in the credit card business these days, and consumers are paying the price. Interest rates are going up, credit lines are being cut and a variety of new fees are being imposed on even the best cardholders. The New York Times reports.
Banks expect to tighten terms on credit cards in response to a new law that aims to protect consumers from sudden rate hikes, the Federal Reserve said Monday.
Consumers borrowed less for a record eighth straight month in September amid rising unemployment and tight credit conditions.
Visa reported strong earnings that topped last year's and outstripped Wall Street forecasts. Craig Maurer, equity analyst at Calyon Securities, discussed his outlook on the firm and other credit card companies going forward.
American Express reported a profit that fell from a year ago but topped Wall Street's expectations as the credit card company trimmed costs, a decline in consumer spending stabilized and bad loans eased.
With a key Congressional committee beginning markup of legislation creating a consumer financial products watchdog, the Federal Reserve's unusual role as a source of funds will likely draw attention.
Consumers are increasingly late paying off loans on their primary home, as the highest unemployment in a quarter of a century pushes up delinquency rates on most types of loans.