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Posts tagged "credit cards"

Interest, APR can cost credit card users money

It is fairly easy for a New York resident to get a new credit card. Many people receive unsolicited offers through their daily mail and others are bombarded via email with credit proposals from banks and other lending institutions. It may seem like the ubiquity of credit cards available to people would make those purchasing devices unprofitable in such a saturated market; credit card companies, however, have several tools that they can exploit in order to make money off of their credit card holders.

Credit card debt can derail financial plans and dreams

It can take a Rockland resident a long time to save for a big purchase or expense. Whether that expenditure is a short-term experience like a vacation or a big-picture plan such as retirement, when it comes to saving it can be easy to lose focus and get off the right financial track. One way that people find their financial plans and dreams derailed is by incurring large amounts of credit card debt.

The CARD Act and coping with credit card debt

Nearly six years ago, President Obama signed into law a bill that sought to protect consumers from the confusing and sometimes abusive practices of American credit card companies. Called the Credit CARD Act, or the CARD Act for short, the law prevents credit card companies from hiding card terms from consumers and changing those terms on cardholders in their systems. Generally, the law's goal was to protect New York residents and other Americans from the damaging practices of some aggressive creditors.

What is a debt relief scam?

Not all debt is bad. In fact, many Garnerville residents responsibly carry debt in the form of home mortgages, car and student loans, and other lending tools that enable them to access what they need to live good, productive lives. When debt is managed and maintained, it is not always a crippling burden.

How do people get into trouble with credit card debt?

Credit seems to be available everywhere. Many stores throughout New York offer their customers credit cards that provide those users with in-store benefits. Car dealerships find ways to finance new automobiles for people who cannot pay cash for the vehicles they want and need. The vast majority of people who endeavor to own their own homes must take on mortgages in order to cover the high costs of owning real property.

Children's credit card debt becomes problem for parents

Some New York parents choose to allow their kids to get credit cards while those children are still relatively young. Whether they hope to help their kids build good credit histories or want to teach them about effective money management, many parents have to co-sign on their kids' accounts in order for credit cards to be secured in their kids' names. These arrangements can work but for some people mistakes made by youths lead to serious money problems for their parents.

Credit card debt is a problem for American college students

Many New York college students go off to their academic institutions each fall with plans to be fiscally responsible. After working through the summer to earn money they know how quickly their money can dry up once back at school. Although some students stick to their plans and learn how to budget, others get caught up in their purchases and find themselves relying on other forms of monetary support to get through the year.

As access to credit increases, so too may credit card debt

In the wake of the recent national economic recession, many New York residents experienced drops in their credit scores. Different forms of financial liabilities affect a person's credit score, ranging from education and home loans to credit card balances. Such factors can directly influence if individuals can obtain future access to credit.

Start of school season means credit card debt for some

The fourth of July has come and gone and for some Rockland residents the end of summer may be too rapidly approaching. As summer winds down back-to-school preparations gear up for teachers and families alike, and soon stores will be filled to the brim with backpacks, notebooks and other educational tools. The return of kids to school and the coming fall are often signs of a time when Americans make poor financial choices that can lead to overwhelming credit card debt.

Paying down credit card debt

Many New Yorkers have had to rely on credit cards to pay for their necessary expenses. Others have had to use credit cards when emergencies arise. In these cases, people are often left with mounting debt, high interest rates and no way to pay back the money. Following the recent recession, this is a common scenario.

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