Credit Guide

for gifts

Card Consolidation Credit Debt by Aramando Duke - Financial Columnist

The Equifax report lists the codes showing how consumers are classified when they don't pay their bills on time. Along with these numeric codes, a credit report can have a letter showing the type of credit, i.e., "R" for revolving (credit card) and "I" for installment (personal loan). The code for someone who always paid her credit card on time would be "R1." Here are the numeric codes.

Credit Union According to the latest survey by the Cambridge Consumer Credit Index, 38% of Americans polled plan on using less credit than last year for holiday shopping.Visit our AXcess News Forum and add your comments on this story. Try your hand at writing, the best story will be published on our news network. Take our business poll too!

Compare credit cards from hundreds of UK credit card providers and apply online for the best credit card deal at Moneynet.co.uk, your guide to UK credit cards

Merchant Credit Guide Co Print This Page

Impartial guide about credit card types available in the UK. Ensure you choose the right credit card type for you and save money with uSwitch.com

Apply Online For Credit Card December 5, 2003 (Axcess News) Cambridge MA - According to the latest survey by the Cambridge Consumer Credit Index, 38% of Americans polled plan on using less credit than last year for holiday shopping.

There are some great credit card deals available. However, unwary consumers are at risk of being caug...

By Card Credit Debt Debt Guide Last year 31% of Americans said they would use less credit over the holidays in their gift purchasing, 7% less than the Index's current poll.

Danielson, who hosts a weekly radio show called "The Consumer Fight Back Show, " said that many of the people in the credit counseling industry are "collection agencies in disguise." He said the most famous organizations, profit National Foundation For Consumer Credit (NFCC) and Consumer Credit Counseling Services (CCCS), are actually a set of " profit franchises" that earn billions of dollars each year, primarily serving creditors' interests.

Credit Repair In an announcement today Index spokesperson Jordan Goodman said, "The results of the Cambridge Consumer Credit Index show that more consumers plan to use less credit for Christmas shopping, implying that more will be making purchases using savings and cash. Consumers already burdened with credit card debt also have high hopes of paying off their balances in full when the bills arrive in January. However, Cambridge's experience with the Reality Gap shows that consumers usually underestimate their willingness to take on debt and overestimate their ability to repay it quickly."The Cambridge Index also asked consumers who plan to use credit cards this season whether they expect to pay them off in full when the bills arrive in January. 60% say they expect to pay off their balance in full, up from 58% a year ago and 55% in 2001. 36% expect to carry a balance on their credit cards for more than a month before they pay them off, unchanged from 2002, and down from 39% in 2001. Only 4% plan to pay off some cards and carry balances on others, down by 2% from 2002 and 2001.200320022001

Active Credit Credit Guide More credit card debt4%2%4%

Credit Score Less credit card debt38%31%30%

Bad Car Credit Guide Loan About the same credit card debt29%31%31%Will not use credit card debt29%35%36%Repay bills in full 60% 58%55%

Bad Credit Loan Carry bills for more than a month36%36%39%Pay off some cards and

Credit Definition Derivative carry balance4% 6% 6%

Bad Credit Mortgage Source: Cambridge Consumer Credit IndexIn December, 30% of Americans say they have taken on more debt, with 22% taking on a little and 9% taking on a lot more debt. Conversely, 70% of Americans have paid off debt, with 53% paying off a little and 17% paying off a lot.

The Insider Guide To Credit The "Reality Gap," which is the difference between the amount of debt consumers say they will pay off in the next month versus the amount of debt they actually paid off a month later, narrowed by 5 percentage points to 7 points from 12 points in November. A month ago, 77% of Americans planned to pay off debt, while a month later 70% actually did so.

Business Credit Card "The Cambridge Consumer Index survey shows that consumers are expecting to take on a great deal of new debt in the next month and six months, which is a sign of rising confidence in their economic future. Clearly part of the increase is seasonal since people take on more debt to buy holiday gifts. But with the Index rising to its second highest level in history, it is evident that consumer optimism is also spreading across America," said Goodman.

Banker Complete Credit Guide AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking news. If your not a member, consider joining now. Members get the latest business news, commentaries and stock picks delivered right to their in-box.

[ Comment, Edit or Article Submission ]