Credit Cards
Consumer watchdog warns companies against devaluing credit card rewards, launches tool to avoid scams
A federal consumer watchdog is warning that certain credit card companies may be illegally devaluing accrued rewards such as points or airline miles. The Consumer…
Your best advisor to finance and money management.
Explaining Finance is your one-stop website for the latest news, updates, and tips about finance.
Latest News
Walmart, Capital One end exclusive consumer credit card agreement
Capital One and Walmart announced Friday that they ended the agreement that made Capital One the exclusive issuer of Walmart's…
Credit card usage is up as inflation continues to rise
Inflation has steadily been rising in recent years. The Consumer Price Index — a major measure of inflation — rose…
Bond King Jeffrey Gundlach warns over US economy as Americans' debt piles up: 'Concerning'
As Americans’ debt grows, recession fears are refueled and the Fed grapples with the pressure to cut rates, "Bond King"…
Texas judge stops Biden Administration rule that caps credit card late fees at $8
The Biden Administration has been trying to create laws and rules that would limit "junk fees" charged by credit card…
Credit card debt is surging as average American owes $6,218
Americans are racking up more credit card debt as they continue to battle high inflation and interest rates. New data published…
Visa changes coming this year will mean fewer cards for Americans
Major changes announced by Visa this week mean Americans will soon not need to carry around as many credit and…
Credit card debt poised to smash another record high
Americans are racking up more credit card debt as still-high inflation and steep interest rates continue to make the cost…
Americans are carrying a record amount of household debt
Americans racked up more debt at the beginning of 2024 – and a growing number of households fell behind on…
US regulators investigate credit card rewards 'bait and switch' schemes
Federal officials on Thursday announced that they are investigating "bait and switch" schemes associated with credit card rewards and travel…
Gen Z lean on credit more than millennials did and racking up more debt
The latest crop of young adults in the U.S. is leaning more on credit than the generation before, and experts…
Small businesses are racking up credit card debt, raising some concerns
Small businesses are increasingly turning to credit cards as a key source of funding as they continue to grapple with…
76% of buy now, pay later users said it helped improve their financial situation but beware of risks: survey
A growing number of consumers who use buy now, pay later (BNPL) services and are attracted to their ease of…
Many personal loan borrowers rely on loans for everyday expenses as cost of living grows
The personal loan market is growing, in part due to the high cost of living. About 14.5% of borrowers use…
1 in 3 Americans maxing out credit cards because of inflation: survey
Economic hardship is causing more people to rely on credit to cover living expenses, and some have even maxed out…
Credit card delinquency rates hit worst level on record
Americans are drowning in credit card debt. New data published by the Federal Reserve Bank of Philadelphia shows that a…
Chase allowing advertisers to target customers based on purchases
Chase announced Wednesday it has launched a new media business that allows advertisers to target the bank's 80 million U.S.…
Americans are draining their retirement accounts, racking up debt due to high inflation
Chronic inflation hinders millions of Americans' ability to prepare for their financial future, according to a new study published by…
Six moves you’re making that can ruin your credit score
One of the most important lessons regarding your finances to understand is to preserve and protect your credit score, as…