Federal Government Cuts Interest Rates

The US Federal Government has recently announced a large 75 basis point rate cut, which brings the total key rate to only 2.25%. In doing so, the prime rate will also fall, bringing itself down three-fourths of a percentage point, leaving it at 5.25%.

This strategic maneuver, deftly employed by the FOMC, or Federal Open Market Committe, closely trailed a .5% cut in the month of January and brought the total federal funds rate down to the lowest level established since late 2004. [Read more]

Handle Your Credit Wisely

America recently hit a pretty severe economic downturn, and the country is still recovering from this misstep. Ask any random citizen of the country, and he or she can tell you at least one thing that has been affected in their respective life. From commodities to employment, nothing was spared, as shock-waves from a housing market collapse and global demand for oil has managed to affect every economic sector. [Read more]

Potential Credit Card Laws to Protect Consumers

Credit Cards are just one of the fundamental cornerstones to living in modern America. Almost everybody at least knows someone who has one, and these items are quickly replacing cash in a variety of ways on a daily basis, from dining to paying for energy, recreation to online purchases. Credit Cards are in general a great boon to the average American, and with responsible use they present an absolutely fantastic means to build credit. [Read more]

Can Your Credit Survive The Economy?

Up until this century, the vast majority of people would have thought that the situation in America is ripe with opportunity for buying your own home or getting a car with very little effort. You could even set up your own personal business or enterprise with next to no risk of failure. However, what with the recent stumble of the economy and the threat of both a collapsing mortgage industry and a weakening domestic automotive market, the general public consensus has shifted in such a way so that the mere idea of the aforementioned investments in the current financial climate would be akin to bankruptcy. [Read more]

MasterCard Optimistic, Perceives Positive Future

The credit card company MasterCard, Inc, apparently hasn’t been strongly affected by the credit crisis that has struck the U.S. in 2007 and continues to hurt its economy until the present day. According to Walt Macnee, the president of the global markets division of MasterCard, Inc, the market for credit in countries other than the U.S. is looking particularly good right now. Thus, even while America continues to be wracked by the credit crisis, MasterCard is anticipating economic expansion and growth for itself. [Read more]

Credit Unions as Safe as Banks

When it comes to hard-earned money, Americans are very careful to consider the kind of institutions to deal with when handling their funds, and this has probably never been more true than today, what with the fragile nature of the economy. People don’t have a lot to spend these days, and they’re looking at their banks as a place to help them save what they have and invest into the future. Of course, with so many banks available, people are in need some of guidance to find out exactly what kind of institutions exist and how they can help them. [Read more]

Bottlenecked Flow of Credit Inhibits Growth

The amount of credit that is flowing to the companies operating in America is currently drying up at a pace that has not been seen in over decades, the ramifications of which threatens the creation of new jobs and the expansion of established businesses, an issue that is magnifying the worries of several economic experts that the economy is truly in the middle of a recession. [Read more]

New Credit Card Deal For Home Depot

Home Depot is America’s second biggest retail merchant, after Wal-Mart. It also boasts one of the most extensive consumer credit card programs of any US retailer. Recently, Home Depot renewed its agreement with New York financial giant Citigroup, Inc. Citigroup has provided Home Depot with the credit cards that the retailer, in turn, offers to its consumers since 2003. [Read more]

Credit Reforms May Be Underway

Due to a large concern of harassment and predatory behavior against consumers, the Federal Government has decided to look into the matter of addressing credit card companies in order to determine ways in which people can be protected from their unscrupulous tactics. [Read more]

Have Your Say With Credit Cards

The Federal Reserve is offering consumers a chance to have their voices heard about credit card practices. Now through August 4 consumers are able to go to the Federal Reserve’s website and voice their opinions on a set of new rules aimed at reforming the business practices of credit card companies. [Read more]