In the credit card news
It's mostly bad news this time of year, after the dust settles on Christmas, and only a little spending anxiety remains as St. Valentine's Day looms on the nearly forgotten horizon. So now it's time to knuckle down and work and pay, and work and pay.
In an article in the Times Online today, the publication blames the slowdown in the housing market for a recent downturn in the use of credit by consumers. The article also sites a change in the use habits of people using gift cards to make purchases. Seems they are spending on household necessities, like groceries, instead of the usual type of spending spree for gifts or furniture or new dishes... It also seems that credit-card delinquencies and not making minimum monthly payments are growing. Read more here. Tough times ahead?
In other news, DelawareOnline warns today that we better pay our bills quickly now as credit card companies are shrinking the window of time consumers have to pay off their credit card balances, i.e. increasing the minimum payment. The report also notes that late fees are increasing. Get the full story here. Are we depressed yet?
In the UK times are toughening too. In a story today in the Financial Times, there are warnings that lenders are scrutinizing and accessing increasing amounts of personal data when deciding on credit cards and loans. Lapses in good credit behavior that would have had little effect on a credit rating a year ago are being used to deny credit. Get the full story here. Are we immune?
Anyway, there is nothing we can do but work our way through. Now let's get to work. :-
In an article in the Times Online today, the publication blames the slowdown in the housing market for a recent downturn in the use of credit by consumers. The article also sites a change in the use habits of people using gift cards to make purchases. Seems they are spending on household necessities, like groceries, instead of the usual type of spending spree for gifts or furniture or new dishes... It also seems that credit-card delinquencies and not making minimum monthly payments are growing. Read more here. Tough times ahead?
In other news, DelawareOnline warns today that we better pay our bills quickly now as credit card companies are shrinking the window of time consumers have to pay off their credit card balances, i.e. increasing the minimum payment. The report also notes that late fees are increasing. Get the full story here. Are we depressed yet?
In the UK times are toughening too. In a story today in the Financial Times, there are warnings that lenders are scrutinizing and accessing increasing amounts of personal data when deciding on credit cards and loans. Lapses in good credit behavior that would have had little effect on a credit rating a year ago are being used to deny credit. Get the full story here. Are we immune?
Anyway, there is nothing we can do but work our way through. Now let's get to work. :-
Labels: Christmas, minimum payment, personal data, st. valentines day
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