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Credit Card Debt Archives

Credit card debt influenced by age, income

Over two-thirds of American adults have at least one credit card, and the average balance is perhaps less than ideal. Adults of all ages and income brackets struggle with the burden created by their credit card debt. However, some people in Florida might have an easier time than others when it comes to addressing these debts.

As credit card debt grows, personal savings shrink

Adults in Florida generally understand the importance of building up an emergency savings account. Unfortunately, this is often easier said than done. Many consumers currently have more in credit card debt than they do in their emergency savings. While this might seem like a cost of modern life, it can actually pose a significant threat to people's financial stability.

Last year's credit card debt outpaced predictions

Coming out of the holidays and into the new year can be an uncomfortable experience for some people in Florida. While virtually no one plans to become entrenched in debt, it is sometimes hard to escape. From feeling obligated to purchasing gifts to traveling to visit family, the holiday season can put a serious dent in some people's credit card debt as well as their financial security.

What should I do re home foreclosure on my investment property?

During the housing boom, Florida was a popular place for investors to scoop up real estate. Unfortunately, as the market declined over the years, many investors found it more and more difficult to keep up with the overhead costs of their properties. If you are one of those investors, it may be helpful to understand what to do when faced with home foreclosure on your investment property. 

What does revolving credit mean for those with credit card debt?

Most Americans have credit cards and have some credit card debt. While many Florida card holders are able to manage their payments and avoid falling behind, others may find themselves victim to revolving credit and balances that keep going up due to accumulating interest. According to a recent statistic, Americans have about $944 billion in credit card debt, and consumers carry about half of that amount over each month.

Will Americans need help with their credit card debt soon?

Credit cards just might be as American as apple pie or baseball. Nationwide, consumers are carrying more than ever on their credit cards, adding to household debts and laying on the interest rates. Credit card debt can be incredibly stressful for people in Florida, and those who struggle to make their monthly payments may want to consider their options for debt relief.

Experts share their personal stories of credit card debt

Florida consumers may sometimes bemoan their lapse of knowledge when it comes to dealing with complicated financial matters. However, being a financial expert does not protect oneself from the unexpected or unavoidable accumulation of credit card debt. Credit card experts from the popular website NerdWallet recently shared some of their experiences with taking on this form of debt.

Credit card debt could grow over holiday shopping season

Florida residents are no strangers to the lingering effects of the Great Recession and a decade of economic uncertainty. As a result, many people reigned in their spending habits. Now, experts believe that many consumers are suffering from frugality fatigue. With frugality fatigue hitting around the same time as the holiday shopping season, some individuals could end up accumulating more credit card debt than they otherwise anticipated.

Consumers spend billions for credit card debt, interest

American consumers seem to be confident in their spending habits, but is the upwards trend sustainable? According to some experts, probably not. Consumers in Florida and across the rest of the United States are currently shelling out over $100 billion not in general credit card debt, but for the interest and fees on their cards alone.

New credit score could lead to more credit card debt

Credit scores govern many aspects of daily life in Florida. From who is eligible for an auto loan to what kind of apartment a person is approved for, the credit score is an important financial tool that is not always easy to improve or maintain. Because of this, some may be pleased to learn that FICO scores are being overhauled. Unfortunately, experts caution that it could lead to an increase in credit card debt and more.

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