That’s the advice of Stuart Vyse, a Connecticut College psychology professor with a new book in 2008 called Going Broke. Vyse puts the blame for American credit card debt on a combination of a lack of self control and the many temptations to spend money.
Although the advice that Vyse gave to the Hartford Courant in [...]
Scanning Google News today and reading this story about the Associated Press in its fight against bloggers has me wondering whether it has come time for a one day credit card boycott in order to protest the deceptive and misleading practices of credit card companies?
It’s one way that I can think of demonstrating to credit card companies that they need [...]
Representative Peter Welch (D-Vermont) said that the Credit Card Bill of Rights has bipartisan support and that he expects it to pass, according to WCAX-TV News. This is in contrast to previous reports from others who were less optimistic about the prospects of meaningful Congressional legislation on credit card reform. Nevertheless, it is good to hear.
A recent ABC news story did an in depth examination of Democratic Presidential Candidate Barack Obama’s platform on the issue of credit cards, deceptive practices, usury laws, and credit card debt. Get the full coverage on his platform here.
The Connecticut State Legislature passed legislation last week (my previous discussion is here) regarding gas station discounts for cash paying customers. Estimates have suggested that the difference between the price of gasoline for cash paying customers and credit/debit card customers may become as high as 10 cents per gallon. However, reports from gas stations in [...]
If you thought that you had the best credit card for rewards, gas discounts, or airline miles - you may need to rethink your credit card choice. Apparently, Citibank unveiled the Ultimate Credit Card today. The credit card is “a lifestyle experience with unbeatable international and local offers … to keep cardholders at the cutting [...]
The Wall Street Journal had an article last week about the growing popularity of support groups for those with credit card debt problems. It points to several online discussion forums and in person organizations that provide financial advice and moral support to individuals trying to turn their credit card problems around. Although support organizations have [...]
There has now been more coverage regarding the credit card debt and personal finances of the presidential candidates. I have already commented about the credit card debt of the presidential candidates - so here are a few links to other news articles on the matter:
New York Times
Reuters
Senator and Republican Presidential Nominee John McCain and his wife reported over $100,000 in credit card debt, according to The Hill. Democratic Presidential Nominee Barack Obama and his wife reported no liabilities in Obama’s financial disclosure.
Aren’t Republicans supposed to be in favor of fiscal responsibility and Democrats in favor of spending?
The San Francisco Chronicle published an article criticizing the 2005 bankruptcy reform measures and arguing for Congressional action on predatory lending and loan shark like interest rates. One credit card debt statistic from the article demonstrates the severity of the problem in America:
monthly service payments on credit card debt for 1 in 5 households exceeds [...]
