Low Interest Credit Cards

Here at CreditCardForum, we are a huge fan of credit unions. That may seem counter-intuitive since we advertise cards issued by Discover and Amex, but the bottom line is when it comes to interest rates, credit unions frequently beat the big guys. Why? Because CU’s are actually owned by the members/account holders, so they’re not out to maximize profits like Wall Street bankers do.

Suze Orman on Larry King
Last week, Suze Orman was on Larry King for the hour discussing all sorts personal finance issues, including credit cards. Orm

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If you’re looking for interest free credit cards, and have a strong credit rating, you should have no problem finding an offer that appeals to you. In fact, as of this writing Discover has a several 0% APR offers available including their line of Discover More cards.

Of course when we speak of interest free credit we are talking about an introductory period. No bank or financial institution can afford to offer credit indefinitely at 0%. They would be out of business in no time at all.

The best way to go about comparing interest-free credit cards is by doing a search on the Internet. That should guide you to a quality comparison website that allows you to quickly, easily and conveniently find the types of offers you are looking for.

The finer sites will have categories devoted specifically to credit card types. F

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This past year has been one of the most turbulent years in the history of the credit card industry for both issuers and cardholders. Issuers made substantial changes in their rates and fees to increase revenue. This created higher payments for consumers during a time of recession and high unemployment.

This week, comScore released its Online Credit Card Report: 2009 Edition. The study shows that half of consumers have noticed changes in their account made by their issuer including higher interest rates, lower credit limits and additional fees. The study also reports that over two-thirds of consumers have responded to changes in their credit card terms and conditions by closing the account, switching to another card or lowering their spending behavior.

Credit card issuers claim they had to increase rates and fees as well as reduce their lending risks in order to stay in business.

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On this day in 1620, 102 Pilgrims aboard the Mayflower landed in what is now called Plymouth, Mass. Their grueling journey from England to America took 66 days. They left their country because they sought religious freedom and they hoped to find it in North America. It was hard for them to leave their homes, but they did not want to be a part of the overbearing Church of England. While it took a ton of courage, they left everything they knew to be free and start their own settlement.

The Mayflower, depicted above, transported the Pilgrims from Southampton, England, to Massachusetts in 1620. Read more…

One trend to watch for in the coming months will be whether the Great Recession brought about permanent changes in the way people handle their debt and other personal finance issues.

The past year has seen Americans paying down their combined consumer credit debt by billions of dollars, bringing the overall amount back to levels not seen in several years. However, the country is still facing almost $900 billion in revolving debt, which primarily consists of credit cards, at a time when delinquencies and unemployment remain high.

The situation presents mixed prospects to the general economy, which depends heavily on consumer spending to sustain its growth. Read more…