Fed's Rate Cuts Bring No Relief For Consumers' Credit Card Bills
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The Federal Reserve's dramatic rate cuts were expected to make it cheaper for consumers to use credit cards. But credit card interest rates remain high and in many cases have even climbed.
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The housing slowdown has caused Americans to miss more payments on home loans, though more appear to be paying their credit card bills on time.
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Central bank chops rates, but stocks slide anyway.
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A new inflation report raised concerns that the Federal Reserve will back away from cutting interest rates again.
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The Federal Reserve on Wednesday  declined to comment on speculation in financial markets that  the U.S. central bank might cut the discount rate imminently.
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Call it a love affair with a dark side. Consumers today can't get enough of their credit cards, slapping them down with a passion to pay for everything from fast food to plane tickets at a rate of 10,000 transactions a second worldwide.
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The Federal Reserve is expected to lower U.S. interest rates on Wednesday as part of an ongoing aggressive effort to spare the economy from the worst effects of a deep housing slump and credit crunch.
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WASHINGTON -- Late payments on credit card bills edged up this past spring, when high energy prices were squeezing the finances of some people and making it hard to pay bills on time.
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The Federal Reserve, confronted with a global stock sell-off fanned by increased fears of a recession, cut a key interest rate by three-quarters of a percentage point on Tuesday, the biggest one-day move by the central bank in recent memory.
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Cutting up old cards could damage your FICO score.
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A Federal Reserve interest rate cut this  week is no sure thing and officials are not seriously  considering a half-point reduction in overnight rates, the Wall  Street Journal reported on Tuesday without citing sources.
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Credit cards issuers may face penalty from the regulators as credit cards solicitation is not as reliable as they are said. Consumers sometimes are not given the whole information about the possibly imposed
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WASHINGTON -- Battered consumers, faced with weak income growth and rising inflation, trimmed their spending in August by the largest amount in nearly a year. The Commerce Department reported Friday that consumer spending, after adjusting for inflation, dropped by 0.1 percent last month, the first...
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The credit card industry is an unloved business in many ways these days.
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America is getting more Foolish -- by paying off credit cards.
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The Federal Reserve cut a short-term interest rate yesterday to try to keep problems in the housing and mortgage markets from dragging the nation into recession, but Wall Street judged the move as too timid and financial markets tanked.
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Aggressive moves to cut interest rates by America's central bank are intended to stave off a financial meltdown.