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Fitch: Pressure On UK Credit Card Interest Rates may impact ABS Excess Spread (Nasdaq)
Fitch Ratings-London-14 November 2008: Fitch Ratings says pressure on UK credit card issuers to reduce interest rates, following the recent 1.5% interest rate cut by the Bank of England, will add further stress to the current performance of the asset class because it may lead to reduced levels of yield being achieved by credit card trusts.
Controlling your credit rating (Sun-Sentinel)
Don't throw out that letter from your credit card company. It may be notifying you of a reeled-in credit line, interest rate hike or even an account closure.
Brown calls for crackdown on credit card firms as interest rates soar DESPITE 50-year low in cost of borrowing (Daily Mail)
Gordon Brown today called for credit cards to act more responsibly and to stop hiking their interest rates.
Solid credit score "vital" (Denver Post)
Loans are harder to obtain as banks tighten lending standards in the credit crunch. A high score can help get credit and may lead to lower rates on financial products such as insurance and loans, experts say.
Banks INCREASE interest rates for credit and debit cardholders - despite 50-year low in cost of borrowing (Daily Mail)
Banks have increased interest rates on tens of millions of debit and credit cardholders despite the cost of borrowing falling to a 50-year low.
Why banks are boosting credit card interest rates and fees (USA Today)
In recent years, banks have sharply raised interest rates and penalty fees on credit cards. As the economy tanks and banks' mortgage-related losses balloon, some banks are stepping up such increases to boost revenue. Bearing the brunt are consumers for whom a jump in rates and fees can make it tougher to pay their bills at a time when household budgets already are being stretched.
Miami clinic shows way to sound financial future (Miami Herald)
Low-interest or no-interest credit cards are like getting a free dose of crack cocaine: seductive and dangerously addictive. Waiting until age 35 to put $5,000 into a retirement account means getting as much as $200,000 less at retirement than investing the same amount at 30.
Help from friends (Denver Post)
Good credit and a stable job should have been enough for Matt Schilling to get a low interest rate on a bank loan to fix his Jeep. Despite the tough economy, the 27-year-old figured he would find an affordable note with ease. Schilling wanted to replace a blown engine.
Report: Rates on most types of credit cards rise (AP via Yahoo! Finance)
Average interest rates on most types of credit cards rose slightly this week, according to a report from CreditCards.com.
How low? (Ottawa Citizen)
At the end of the coming week, the Bank of Canada will get an idea of how low it can go with interest rate cuts to stimulate the domestic economy, with the release of the October inflation report, while economic reports earlier in the week will give it some idea of how low it has to go.