Credit card debt is up 13% from last year, New York Fed reports

Aug 3, 2022
That’s the biggest year-over-year increase in 20 years. Inflation is just part of the reason.
Credit card debt increased by 13% over recent months as consumers go back to pre-pandemic spending habits, like going to restaurants or traveling.
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Here's why the CFPB is concerned about credit card late fees

Jun 23, 2022
Credit card companies can change their fees based on inflation.
The limit on credit card late fees changes to allow for inflation.
Olivier Douliery/AFP via Getty Images)

Can you negotiate your credit card rate?

May 20, 2022
Credit Counselors can work with banks to bring down interest rates in order to get debt paid off.
Your credit card interest rate is negotiable — in a way.
Creative/Getty Images Illustration by Julia Schiff

Double whammy: Credit card debt grows as interest rates rise

May 9, 2022
Americans have a $860 billion credit card balance, according to the Federal Reserve Bank of New York.
After paying down credit card debt for the past few years, Americans have gone back to high spending.
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How might the removal of medical collection debt from credit reports help consumers?

Mar 21, 2022
Credit reporting firms say they are making changes to the way they account for medical debt. That could help improve some people's credit scores.
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How has your credit score affected you?

Feb 21, 2022
"Marketplace Tech" is exploring the credit score system and its algorithm. And we want to hear from you!
Your credit score can determine whether you receive a credit card or a loan.
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Mastercard gets in on the "buy now, pay later" trend

Sep 29, 2021
But don't credit cards already work this way? Not quite.
Major credit card companies could be getting into the buy now, pay later space.
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Mastercard is saying goodbye to the magnetic stripe

Aug 18, 2021
Credit-card changes are driven by security concerns, and it turns out that signature swipe has its own swath of problems.
Mastercard plans to swap the swipe payment process for the chip and touchless tap.
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Consumers are gravitating back to plastic for spending splurges

Jul 8, 2021
The Federal Reserve said total consumer credit rose by 10% in May. And lenders issued roughly 6 million new credit cards in March, according to Equifax.
As the economy reopens, American consumers are falling back in love with plastic.
Oliver Douliery/AFP via Getty Images

As consumers get out more, they may also reach for credit cards

Jul 8, 2021
Outstanding credit card balances have been down, but people may start racking up the debt again.
People are going out more and making bigger purchases, and with credit card interest rates still high, balances might shoot back up.
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