NEW YORK, May 28- Citigroup Inc CEO Mike Corbat said the deal the bank made with Costco Wholesale Corp to replace American Express Co as the issuer of credit cards for the retailer will be profitable for his shareholders. Responding to speculation in the card industry that Citigroup gave too much to Costco in negotiations earlier, Corbat said the deal is "without a...» Read More
More banks are tightening lending standards on home mortgages and other consumer and business loans as a deepening credit crisis exerts a heavier toll on the economy.
We all know credit is tight, but now we’re seeing it seize in some very uncomfortable places, namely, literally, your wallets. The July 2008 Senior Loan Officer Opinion Survey on Bank Lending Practice, out today, says "About 65 percent of domestic banks indicated that they had tightened their lending standards on credit card loans."
Moody's Investors Service placed on review for possible downgrade the ratings of American Express and American Express Travel Related Services and its rated operating subsidiaries.
U.S. consumer credit expanded at the fastest rate in seven months in June as Americans turned to their credit cards to keep up spending in the face of rising food and energy costs.
Today’s consumer credit report is expected to show that the economic slowdown caused consumers to borrow less readily in June, but David Malpass, president of Encima Global, disagreed.
Why refinancing your home is not the most effective way to get out of credit card debt.
Brandy is a single mother struggling to pay the bills and now she's about to lose her home. But Carmen's got a plan.
The right way to combine credit cards, raise your credit score and more from On the Money's credit contributor.
Robert Dodd, analyst at Morgan Keegan, gave his take on the world’s largest credit card companies, MasterCard and Visa.
MasterCard posted higher-than-expected quarterly earnings Thursday, but spending volume growth in the United States was weak and investors punished the credit and debit card network's shares.
Visa, one of the world's largest credit card companies, posted higher-than-expected quarterly earnings of 59 cents per share—excluding onetime items—on higher international revenue.
Use my money chart to allocate your monthly income and see where you're spending too much.
When you're debt-free is the best time to start building your credit. Because someday, you're going to need it.
How many cards should you keep open at once? Do you have to be rich to have a great credit score? The answers are here.
Take the time to learn how this number is decided so you know what you have to do to raise it.
American Express posted second-quarter earnings well below forecasts and issued a dismal forecast, sending its stock down sharply in after-hours trading.
Plus, how to get back in the game if you lose your home.
Centro Properties Group, a high-profile Australian victim of the global credit crunch, is selling almost all of the shopping malls in its Centro America Fund for $714 million, using the cash to pay down debt.
What would you rather talk about to someone you just met: Your credit card debt, your salary or your sex life?
Many of you have written in asking me to explain this rule of thumb to use in deciding between buying and renting.