Finance
Credit Card Companies Love Penalties!
A recent report from the Government Accountability Office estimated that about 70 percent of the credit card industry’s revenue comes from interest and penalty rates, with penalty rates accounting for a growing portion. Senate Banking Committee Chairman Christopher Dodd (D-Conn.), meanwhile, noted that for 2006, banks are expected to collect a record $17.1 billion in [...]
Dial CC for Credit Cards
“Too few credit cards can hurt your credit score,” said Evan Hendricks, author of Credit Scores & Credit Reports. That’s because a thin credit profile doesn’t provide as much evidence to lenders that you’re capable of paying back your debts on time as the more extensive track record of someone who is [...]