BB&T's credit will be "lumpy" over the next few quarters; following news that the bank plans to sell more than $1 billion in loans in order to dispose of some bad assets, Kelly King, chairman & CEO of BB&T told CNBC on Wednesday.
Wary of the economy, shoppers are increasingly shying away from credit cards, opting to use cash, checks or debit cards rather than to "pay later" on a credit card. A new study released by Javelin Strategy & Research has found that only 56 percent of consumers have used a credit card in the past month, a dramatic decrease from 87 percent in the same period in 2007.
How credit freezes work, and whether they're for you.
The six largest card issuers expected to earn nearly $10 billion more in the coming 12 months than predicted, says a study by Moody’s., says the Financial Times.
Changes to the US bankruptcy code, enacted in 2005, are coming back to haunt banks, according to Yra Harris, a veteran trader at Praxis Trading.
As children head back-to-school, it is a good time to remember that parents should be very careful when they share their children's Social Security numbers. Though you can't completely protect children against identity theft, there are things you can do.
There’s a class war coming to the world of government pensions. The haves are retirees who were once state or municipal workers. Their seemingly guaranteed and ever-escalating monthly pension benefits are breaking budgets nationwide.
Visa reported a profit of $716 million on Wednesday after the closing bell, outpacing estimates, as consumers resumed spending. Robert Dodd, senior transaction processing industry analyst at Morgan Keegan shared his analysis on the credit card giant.
Since the recession, credit cards are harder to come by, real estate values remain low — making it harder to borrow against home equity — and banks have tightened standards, forcing small businesses to turn to microlending, reports the New York Times.
The credit card company turned in a quarterly profit of $716 million, outpacing Wall Street estimates, as consumers resumed spending.
With financial regulatory reform now law, the 'Fast' desk discusses how it will affect the credit card company's bottom line in the future.
American Express posted a sharp earnings spike that beat Wall Street expectations, as its customers resumed spending and fell less behind on paying their bills.
These offerings have both sizzle and steak.
If the results of an American Express survey are correct, consumers are making good on their promise to pay down their debts.
As millions of Americans have fallen behind on paying their bills, debt collection law firms have been clogging courtrooms with lawsuits seeking repayment. The New York Times reports.
The downward shift in credit scores reflects several factors: auto repossessions, bankruptcies, foreclosures and unemployment. "It is the perfect storm," says one consumer credit expert.
There are still major concerns about Europe's economy and sovereign default is still a possibility, but the U.S. may be heading into even stronger headwinds with the rollover of loans having the potential to become "subprime mark two," according to Yogi Dewan, founder of Hassium Asset Management in London.
The rising demand for credit and payment services worldwide makes global financial heavyweight Citigroup a solid buy, Richard Bove, senior vice president of equity research at Rochdale Securities, told CNBC Tuesday.
Gander Mountain charged that on co-branded cards—these are cards that can be used anywhere as a Gander Mountain Master Card—ADS won’t give credit to Gander Mountain customers with FICO scores above 800.
Consumers rarely emerge from debt settlement programs with their credit card balances eliminated, critics say, and many wind up worse off, with severely damaged credit, reports the New York Times.