Credit Cards

Two Topics from the Course

Just about every topic that we’re discussing in the course has been in recent news, and I’ll touch on just a couple. Credit Card Debt On July 11, 2019 Yahoo Finance reporter Sibile Marcellus writes, “Americans owe more than $1 trillion in credit card debt. And according to a new CreditCards.com poll, households with credit…

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Credit Card Agreements

If you have a credit card you probably don’t remember its terms and conditions; unfortunately, most people sign on without having read them in the first place. In truth, they aren’t meant to be understood.  If you scan through the CreditCards.com study results from 2011 and 2016, you’ll get a better feel for what I…

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More about credit card debt and payoff

  I just found this Credit Card Interest Calculator from American Consumer Credit Counseling (ACCC), a NFCC member agency.  This one can be even more accurate than the BankRate calculator, because it allows input of the LOWEST that the minimum payment will ever be (until the very last payment), based upon the specific credit card agreement. For example,…

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Credit Card Debt?

According to the Federal Reserve, credit card debt is now nearly $1.4 trillion, which is a 4%  increase from last year and the level is even higher than in October 2018, at the height of the financial crisis. The “economy” now looks good and consumer confidence is up.  Young people are taking on more debt…

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Do I need a credit card?

  I’m not in the counseling trenches these days, and teaching personal finance helps to keep me updated on what is on consumers’ minds. Teaching is also a daily reminder that socioeconomic class, age, life events, and financial experience and literacy all determine what’s in one’s thoughts on a particular day.  Moreover, our individual beliefs,…

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