Category Archives: Credit Cards

Understanding How Lines of Credit Work

Mortgages, credit cards, lines of credit, and car loans are just a few of the many different types of loans lenders offer to consumers they feel will repay them in a timely and appropriate manner. Most of them are easy to understand, but there are always a few questions surrounding lines of credit. What are they? How do they work? Do they really benefit you when you are looking to raise your credit score? If you’re not entirely sure what a line or credit is or how it works, this information can prove quite helpful. Continue reading Understanding How Lines of Credit Work

Credit card debt expected to increase – How to keep debts from piling up in 2012

Since the credit card debt kept burgeoning in the last year, the Americans have been more conscientious about their attempts to keep credit card debts at bay and fall back on their monthly credit card payments. This trend among the credit card holders is expected to grow as the balances will also increase throughout 2012. The credit quality of the consumers are likely to increase as the number of charged off accounts are expected to decrease by 15-20%, according to the data from Moody’s Investor Service. This is the reason why the credit card consolidation firms are gaining momentum and the debtors are running to get help from them in order to dodge the charge offs. Though the debtors have changed their habits of misusing their credit cards, yet there are no such noticeable results to be seen among them.

Continue reading Credit card debt expected to increase – How to keep debts from piling up in 2012