Debt Credit Cards

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    Q. I am watching your show "On the Money" and the topic is: "How to raise your credit score." I have great credit: 788 on Experian. I am planning on buying my first home, hopefully by September. My only debt is $2,900 on Amex Blue. In order to raise my score a little higher -- should I pay the entire balance off?

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    I opened a credit card account to help improve my credit a few years back. The limit on the card has not increased but the interest rate has since I received the card. The credit card account has a $65 annual fee, $300 limit and 29.99% interest rate. Is it worth it to keep the account open?

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    A crackdown on credit limits by card companies is squeezing the nation’s 27 million small businesses, exacerbating the problems brought on by a stagnant economy.

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    As they confront more troubled customers, credit card companies are doing something they have historically scorned: settling delinquent accounts for much less, the New York Times reports.

  • Our wallets are a kind of key to our souls (well, our ‘money-souls’ at least). Mine has stayed pretty much the same in boom times as in the current bust. No big change in what I carry to pay for things, but something tells me that you may have changed the contents of your wallet lately.

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    The Federal Reserve should stop buying government debt and instead focus on kick-starting areas of the credit markets having to do with consumers, Steve Forbes, Forbes CEO, told CNBC Monday.

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    Borrowing by consumers fell by $15.7 billion in April as U.S. households continued to trim spending and put away their credit cards amid a severe recession.

  • When you search for driving directions online, a good site will give you several options like “no tolls,” “quickest route,” or “avoid highways.”  You have choices like this when it comes to paying off your credit card debt.  Now, I don’t know about you, but I don’t think it’s good advice to tell someone to take the time to enjoy the tree-lined roads on their way to becoming debt-free, please don’t worry that it takes so much longer.  For me—and from what I can see also many, many of you—getting out of credit card debt was all about getting out hard and fast.  I wanted the route that not only avoided tolls (or fees, in credit-card land) but also that got me to my destination as quickly as possible—a $0.00 balance. 

  • The government is doing its part in helping to manage unfair credit card charges and now we need to help them.

  • Eric Dinallo

    New York state Insurance Superintendent Eric Dinallo will resign effective July 3 and become a visiting finance professor at New York University's Stern School of Business, Governor David Paterson said Thursday.

  • John Ulzheimer takes a look at what the credit card environment may look like in a year.

  • NOT SEEN ON T.V.: The new credit card law could hurt your credit unless you follow these steps.

  • John Ulzheimer says an interest rate cap included in the new law would have actually hurt consumers.

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    John Ulzheimer offers sage advice to a couple looking to close the dozens of credit cards they've accumulated over the years.

  • NOT SEEN ON T.V.: The three worst things about going into collections.

  • If you think the agreement you sign when you open a credit card is a contract, you are sorely mistaken.

  • Peter Andersen of Congress Asset Management Company and Steve Grasso at Stuart Frankel, told CNBC how investors can prepare their portfolios for the weekend.

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    The credit-card overhaul that President Obama will sign into law Friday is expected to trigger a broad restructuring of how credit cards are priced, managed and marketed.

  • John Ulzheimer outlines some of the major provisions in the fine print of the new credit card legislation winding its way through Washington.

  • NOT SEEN ON T.V.: John Ulzheimer explains why the new rules can hurt those with good credit.