You've choosen:
INFORMATION CENTER
News and Articles about Credit Cards...
Read about Credit Cards before Apply!
News about Credit Cards
Improvement in credit card trends for card users
[12:00:00 AM Wednesday, March 30, 2011]
There has been a steady improvement in the credit card trends as there are fewer card holders who have fallen behind on payments.
As per recent data that has been released for the month of January by the US card issuers such as AmEx, Capital One, Bank of America, Discover Financial Services, and JP Morgan Chase, the credit card trends have shown a tremendous improvement.
Companies earn more by way of fees and the more the customers spend on their cards the more the card holders will charge. Hence customer spending is very critical. The revenue from the card loan balances have been falling as companies that had faced severe losses during the recession had tightened their lending standards. Even the credit card issuing banks have been facing loss of revenue as a result of the new rules that curbs the revenue that is earned from debit cards and credit cards.
The US card loans that are a month behind payment has fallen to 4% in the month of January from 4.09% in December at Capital One. Even the charge-offs in the credit card sector has dropped to 6.69% in January from 7.01% in December according to the Securities and Exchange Commission.
The loans that are deemed uncollectible are known as charge-offs and they are based on past records. The loans that are written off in the future are called delinquencies. The delinquency rates are important as issuers can squirrel way capital when there are higher delinquencies and cover potential losses.
Comments not found
The Latest Articles
[October 26, 2011]
Just because you don`t have a rewards credit card, doesn`t mean that your credit card can`t reward you. According to a MasterCard survey, 55% of consumers don`t know the extent of the benefits that their credit cards offer.
[August 31, 2011]
Every adult likes to travel light. The convenience of shopping without carrying an enormous wallet is something this generation has taken for granted. Credit cards are also a huge status symbol. Every adult remembers the glee and joy he or she felt when they received their first letter from some credit card company offering them a card. It proved that they had indeed arrived.
[August 23, 2011]
Consumers are increasingly using their line of credit due to rising inflation and gas prices. This has been revealed by First Data Corp`s report called Spend Trend. Credit cards are being increasingly used to pay for daily necessities such as gas as well as other basic needs. There has been considerable rise in food and gas prices as well. This is a direct fallout of inflation, but income has not gone up substantially to keep up pace with the inflation.
[August 17, 2011]
While most consumers are rejoicing about the increase in the number of credit card offers today, there are a few who are skeptical about the number of rewards cards solicitations that arrive in their mailboxes on a daily basis. However, Bill Hardekoph, the chief executive of a leading financial website, has said that there is absolutely no cause for worry. The rewards credit cards are the latest trends by credit card lenders, both large and small, to increase the number of customers. Of the many rewards cards that are flooding the market today, here are a few that are worth a thought.
