Debt Credit Cards

  • Credit cards

    The Federal Reserve says consumers paid down their credit cards and reduced other debt in June for the fifth straight month as they rebuild savings battered by the recession.

  • A recent Bloomberg article “Unintended Consequences of Mortgage Modifications: Falling Credit Scores” addresses a topic that deserves serious follow up. The article accurately identifies that loan modifications could damage your FICO credit scores, if they are reported to the credit bureaus using the new reporting guidelines set up by the credit bureaus and their trade organization, the Consumer Data Industry Association (CDIA).

  • Stocks rallied Thursday, logging the highest close since November, despite a late-afternoon pullback.

  • Cramer offers his card of choice. Plus, get calls on the casinos, banks and fast food.

  • Stocks rallied Thursday as investors were encouraged by the latest jobless report and round of corporate earnings.

  • Stocks rallied Thursday as investors were encouraged by the latest jobless report and round of corporate earnings.

  • Futures indicated a higher open for Wall Street on Thursday as investors were encouraged by the latest jobless report and round of corporate earnings.

  • Visa Card

    Visa reported better-than-expected quarterly earnings, as the it  sold its stake in Brazil's VisaNet, trimmed expenses and consumers used debit cards more.

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    Warren Buffett appeared live on CNBC's Squawk Box this morning to promote a new online animated series called the Secret Millionaire's Club in which he teaches kids about finance and investing. Buffett told us that stocks are still a better investment than cash investments, like Treasuries, even though the Dow has recently rallied to its highs of the year over 9000.  This is a transcript of the CNBC interview.

  • Child with money

    As children, we probably learned that it was impolite to ask how much someone paid for something. These learning’s generally follow us into adulthood and make it difficult for us to talk about our money situations….with our financial planners, our friends and even our spouses and children.

  • Lydia Alcock doesn’t seem like the kind of kid who would run up a $23 quadrillion bill on her Visa Buxx card.

  • If we pay off the credit cards, how likely is it that the credit card companies will close our accounts? We don't want to be without any credit. So, what's the best way to pay off the debt without losing our credit?

  • Debit cards and me, definitely not BFF’s. So the story of the quadrillion-dollar pack of cig’s has me a tad smug, as much as continually amazed at just how crazy debit cards can be.

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    Merchants across the nation have spent years unsuccessfully fighting interchange fees, which generates an estimated $40 billion to $50 billion in income annually for banks that issue credit cards. But after Congress passed a law last month to protect consumers from excessive fees and interest on credit cards, merchants are mounting a fresh offensive.

  • Cramer gives two big calls in the credit card industry, now that he's seen big signs of credit stabilization.

  • My minimum payment on my one card went from $250 a month to $350 a month and is pushing the limits of my budget which is already in the negative or barely positive.

  • In fact, JPMorgan Chase's vice chairman wasn't exactly enthusiastic about the economy either. Cramer reacts to both and offers plays on cheaper gas.

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    American Express Chief Executive Kenneth Chenault says he has seen signs of stabilization in the economy, but there have not been any signs of improvement yet.

  • On June 30th Bloomberg ran an article called "FICO Scores Show Flaws as U.S. Banks Cut Credit Lines." The article sufficiently bashes the credit score giant and their core product by pointing out that consumer credit scores are lowered when credit card issuers lower credit limits.

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    The Founding Fathers left one legacy not celebrated on Independence Day but which affects us all. It's the national debt.