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Credit cards: they really are out to get you.(CR INVESTIGATES)(Buyers Guide)
Ruth Owens' troubles began when she stopped using her Discover card. The Cleveland woman, who was on Social Security disability, had just passed her $1,900 balance limit.
Over the next six years, she made $3,492 in payments but never reduced her debt. Discover charged fees and finance charges that used up all her payments and ballooned her balance to $5,564. In 2003, the card company sued Owens, asserting that she breached the card contract by failing to make minimum monthly payments. "After paying my monthly utilities there is no money left," Owens pleaded in court papers. "If my situation was different, I would pay." Cleveland municipal court judge Robert ...
- Loser: credit card issuers.(record credit card chargeoffs for 2nd qtr....
- Magazine article from: US Banker October 1, 1997 700+ words
Credit Card Issuers Credit card chargeoffs set a new record in the second quarter-5.22%, according to the FDIC. That was a huge 30 basis points higher than the previous quarter and 74 basis points over the year-earlier number, and reflects...
- OBAMA VICTORY COULD TOUGHEN TIMES FOR CARD ISSUERS.(Credit Card Safety Star Act...
- Newspaper article from: Cardline November 7, 2008 700+ words
...mean a tougher environment for credit card issuers if certain legislative proposals...Obama last year introduced the Credit Card Safety Star Act of 2007, which...Obama has talked about capping credit card interest rates at 30%. "Credit...
- Report blames relatively small number of issuers for most credit card woes; 157...
- Newspaper article from: Star Tribune (Minneapolis, MN) DePass, Dee March 28, 1997 700+ words
Serious credit card delinquencies grew nationwide in 1996...small number of offending banks and card issuers, according to a report released Thursday...banks and specialty card issuers had credit card debt exceeding $100 billion. They...
- Credit-card issuers to market to "deadbeats'; Legislation makes those who pay...
- Magazine article from: Advertising Age Bulik, Beth Snyder May 25, 2009 700+ words
...be changing the approach of credit-card issuers. And the credit-card...used to be highly desired by credit-card issuers because they carried debt...again. Charge-off-weary credit-card issuers, who still collect the 2...
- Credit card issuers see rise in delinquencies.(Special Report: Banking and...
- Magazine article from: Los Angeles Business Journal Young, Douglas August 28, 1995 700+ words
...L.A. County-based credit card issuers are reporting a small uptick...trend is emerging. Most card issuers consider a credit card delinquent when the cardholder...said, noting that many credit card issuers are now granting more consumers...
- TowerGroup to Card Issuers: Beware of Credit Card Fraud in a Down Economy.
- Press release article from: PR Newswire April 17, 2009 700+ words
...transactions forces card issuers to write-off...9 percent of credit card outstandings...TowerGroup. "Card issuers that leverage...balances; however, card issuers can leverage...TowerGroup Store via credit card by using this...
- More card issuers buy up retail credit card portfolios: institutions find...
- Magazine article from: Cards & Payments Lowe, Frederick H. May 1, 2006 700+ words
...for-sale signs on their credit card portfolios. They were not...into 2006. GE Money, the credit card-issuing arm of GE Consumer...Retailers don't worry about credit card interest rates because they...hand, general-purpose card issuers have to limit the rate they...
- CARD ISSUERS SEEK TO STOP ENACTMENT OF CALIFORNIA LAW.(which requires card...
- Newspaper article from: Cardline June 17, 2002 700+ words
Card issuers Citibank, Chase Manhattan Bank...law in September. AB 865 requires card issuers to print on credit card bills the generic-example amounts...2000. That law would have required card issuers to disclose the exact amount the...