Latest Credit card debt News

FILE - In this Feb. 20, 2019, file photo are Mastercard and Visa credit cards in Zelienople, Pa. Americans gave their credit cards a real workout this past holiday season. The Federal Reserve said Friday, Feb. 7, 2020, that borrowing on credit cards rose by the largest amount in more than two decades in December. (AP Photo/Keith Srakocic, File)

Holiday on plastic: US credit card debt surged in December

Feb. 7, 2020 4:10 PM EST

WASHINGTON (AP) — Americans gave their credit cards a real workout this past holiday season. The Federal Reserve said Friday that borrowing on credit cards rose by the largest amount in more than two decades in December. Total U.S. consumer borrowing rose $22.1 billion in December, the central bank said....

This undated photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com.  (NerdWallet via AP)

Liz Weston: I travel-hacked a college tour and saved $3,000

Feb. 4, 2020 10:54 AM EST

Amtrak’s “buy one, get one” spring sale got me started. My teenage daughter and I had used a similar two-for-one deal last year to take an overnight train trip from Los Angeles to Portland, Oregon. This year, she wanted to use her spring break to check out colleges in Chicago as well as the...

In this Jan. 9, 2020 photo a passer-by is reflected in the glass of a storefront in the Harvard Square neighborhood, of Cambridge, Mass. Recessions, and their severity, are out of your control, but as Luke Delorme, director of financial planning at American Investment Services and others point out, your own financial situation doesn’t have to be. You can take steps to insulate yourself from an economic downturn. (AP Photo/Steven Senne)

Millennial Money: Recession jitters and your finances

Jan. 28, 2020 12:14 PM EST

Even just talk of a possible recession can trigger anxiety for anyone who associates it with the major economic downturn of a dozen years ago. But history doesn’t always repeat itself. “The financial crisis in 2008 was basically the second-worst recession ever after the Great Depression in the last...

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...