Latest Credit card debt News

FILE - This Aug. 11, 2019 file photo shows Visa credit cards in New Orleans. On Wednesday, Jan. 8, 2020, the Federal Reserve releases its August report on consumer borrowing for November. (AP Photo/Jenny Kane, File)

US consumers took it easy on their credit cards in November

Jan. 8, 2020 3:28 PM EST

WASHINGTON (AP) — U.S. consumers slowed their borrowing in November, mainly by piling up less credit card debt. The Federal Reserve said Wednesday that consumer credit rose by a seasonally adjusted $12.5 billion in November, down from a gain of $19 billion in October. The sharp slowdown reflected a $2.5...

FILE- This June 10, 2015, file photo shows a chip credit card in Philadelphia. Brushing up on the basics of your credit score can give you a fresh start this year and help you know how best to build and defend it. (AP Photo/Matt Rourke, File)

Millennial Money: How to take charge of your credit in 2020

Jan. 7, 2020 9:09 AM EST

By now, you’ve encountered the world of credit, whether it was renting your first apartment or figuring out how to pay for a kitchen remodel. Whatever your financial goals this year, your credit is likely to play a role in achieving them. Take a fresh approach to your credit by brushing up on the basics:...

FILE - This Aug. 11, 2019 file photo shows Visa credit cards in New Orleans. The average American consumer will have spent more than $1,000 on gifts this season, according to the National Retail Federation. And with six out of 10 Americans not having at least $1,000 in savings in the first place, that money for gifts have to come from somewhere, and that “somewhere” is typically a credit card or a personal loan. (AP Photo/Jenny Kane, File)

On the Money: Tackling credit card debt from the holidays

Dec. 31, 2019 12:10 PM EST

NEW YORK (AP) — The children are playing with their gifts, the new TV is up on the wall, and that puppy has a brand-new cashmere-lined bed, when another gift arrives in the mail. This one isn’t from Santa. It’s your statement from your friendly credit card company. They want to know how...

FILE - This April 3, 2019, file photo shows a tip box filled with U.S. currency in New York. Money resolutions are common — but keeping them isn’t. You can beat the odds by taking a monthly approach to your yearlong money goals. To start, make sure you understand your money situation so you can set realistic targets. Then focus on what you can accomplish each month. (AP Photo/Mark Lennihan, File)

Millennial Money: Focus on monthly tasks to hit 2020 goals

Dec. 31, 2019 7:45 AM EST

A year is built one day at a time. It’s the busy Tuesdays when you never have a moment and the lazy Sundays when you can finally relax. Focusing on small, cumulative actions can take you far, whether you want to train for a marathon, clean out your garage or start a hobby. This is especially true for money...

FILE - In this Aug. 11, 2019, file photo a man puts his Visa card on a stack of cards for a split check at a restaurant in New Orleans. Knowledge is power when it comes to finances. Still, most people don’t know exactly where their money goes. Tracking your spending for one month will help you identify habits and spot excess expenses, says Colin Walsh, CEO of Varo, an online bank. (AP Photo/Jenny Kane, File)

Millennial Money: 6 empowering money moves

Dec. 17, 2019 6:33 PM EST

Raise your hand if you feel confident about your finances. Not feeling it? That’s OK. Perhaps you’re among the 60% of Americans living paycheck to paycheck, or one of the 81.6 million paying off student loan debt. It’s hard to feel confident when your loan balance doesn’t seem to...

Ex-marketing executive gets prison for $855K fraud plot

Dec. 10, 2019 4:48 PM EST

GREENBELT, Md. (AP) — A Maryland woman was sentenced Tuesday to more than three years in prison for stealing hundreds of thousands of dollars from an airline and a hospitality company that both employed her as a marketing executive, prosecutors said. U.S. District Judge Peter Messitte also sentenced...

This Oct. 8, 2019, photo shows a Chase Sapphire card in New York. On Friday, Dec. 6, The Federal Reserve releases its report on consumer borrowing for October. (AP Photo/Jenny Kane)

Hitting the plastic: US credit card use jumped in October

Dec. 6, 2019 5:16 PM EST

WASHINGTON (AP) — U.S. consumers ramped up their credit card spending in October. The Federal Reserve said Friday that total consumer borrowing rose in October by a seasonally adjusted $18.9 billion, up from a September increase of $9.6 billion. It was the biggest increase in borrowing in three months and...

This undated photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. Three-quarters of U.S. households owe money, but the vast majority pay their bills on time and have debt loads that are reasonable given their incomes. (NerdWallet via AP)

Liz Weston: It’s time to let go of shame over your debt

Dec. 2, 2019 11:19 AM EST

Many of us feel bad about our debt. Most of us probably shouldn’t. Three-quarters of U.S. households owe money, but the vast majority pay their bills on time and have debt loads that are reasonable given their incomes. But many people still report being embarrassed about owing money. In one study, nearly...