“Dear Steve, My husband and I have about $30,000 in credit card debt on 4 credit cards. We’ve had a couple of slightly late payments, and our interest rates are very high 24-29%. We would like to be able to buy a house in 3-4 years and are trying to save a down payment. At …
“Dear Steve, I have 3 cards with Bank of America with high interest rates on each….I have had these cards for 10+ years. I have made maybe 2 or 3 late pmts in such time. As I am paying these down, they keep lowering my credit limit which in turn is hurting my credit scores …
“Dear Steve, I am unable to make my minimum payment on my only credit card therefore, not only has my interest gone through the roof I am now over my credit limit. I don’t want to file for bankruptcy. What are my options to get this under control and get my credit card paid off? …
Just when you thought the banks in the United States were really sticking it to consumers, least we forget what is happening in Mexico. I previously wrote about Wal-Mart de Mexico Plans 100,000 Credit Cards by Year-End — With Interest Rates of 59% to 75% Well apparently Mexico is now starting to draw some lines …
Store cards in good times are a good source of profit with their exceptionally high interest rates but in down times they can be an anchor around profits. Not only are store cards generally easier to acquire by people with lesser credit but they are often the first to go unpaid when there isn’t enough …