RateAPY

Good News Regarding Credit Card Fees

Posted by: RateAPY Bank Rates News
March 16th, 2010

There may be an end to the $40 cup of coffee in the near future. Under new banking regulations, credit card companies will not be able to charge customers a $35 over the limit fee for a $2 purchase. Over the limit fees are to be no higher than the amount of the transaction. For ... Read more »

New Credit Card Law Will Help Young People

Posted by: RateAPY Bank Rates News
March 4th, 2010

Credit card companies are known for actively seeking new customers on college campuses. Young people who are away from home for the first time have fallen victim to easy credit and found themselves thousands of dollars in debt with no ability to repay, thus ruining their credit histories for seven years.
The Read more »

Credit Cards May Indicate a Pattern in Consumer Spending

Posted by: RateAPY Bank Rates News
February 3rd, 2010

It may be common for consumers to use either a credit card or debit card when making a purchase. Tracking consumer spending through the Visa and Mastercard companies may be a good way to detect patterns. Despite record numbers of credit card defaults, both the Visa and Mastercard companies are showing good profits. In part, ... Read more »

New Credit Card Rules from the Federal Reserve

Posted by: RateAPY Bank Rates News
February 1st, 2010

In an attempt to help consumers get a better handle on their credit card debt, the Federal Reserve has passed new regulations on credit card companies. The new rules will go into effect on February 22, 2010. Here is a summary of some of the changes you can expect:

Before your credit card company can raise ... Read more »

How Politics May Affect Credit Card Rates

Posted by: RateAPY Bank Rates News
January 26th, 2010

It seems like the interest rates that you pay of your credit cards should be far removed from what goes on in Congress, right? There may be a few degrees of separation, but ultimately politics may have some effect on the interest rates on your credit cards. Here is an example of one possible effect:
... Read more »

Credit Card Balances Decrease Dramatically

Posted by: RateAPY Bank Rates News
January 11th, 2010

Between 2004 and Q3 of 2008, American revolving credit card debt increased steadily. Only a couple of years ago, Americans were known as having a debt-friendly culture. Beginning in Q4 of 2008, the trend reversed. Debt is no longer in vogue, and saving money has replaced the previous mindset.
In the month of November 2009, revolving ... Read more »

Credit Cards Evolving in the New Economy

Posted by: RateAPY Bank Rates News
December 25th, 2009

Banking is going through a lot of changes. Banks are trying to attract new customers while at the same time reducing their risk of losses. Many of their losses have come from defaults on credit card balances. New credit products are sure to emerge that both attract clients and limit losses. Old products are also ... Read more »

The Importance of a Six- to Nine-Month Emergency Fund

Posted by: RateAPY Bank Rates News
December 20th, 2009

If you have credit card debt or a mortgage balance, you may think that paying those debts down is priority number one. But, if the last two years has taught Americans anything at all, it is the importance of having an emergency fund that covers your expenses for six to nine months. You should keep ... Read more »

Current Mortgage Rates Are the Lowest of 2009

Posted by: RateAPY Bank Rates News
December 7th, 2009

According to the Freddie Mac Primary Mortgage Market Survey of December 3, 2009, the average interest rate on a 30-year fixed conforming mortgage loan is 4.71% with 0.7 points. This is the lowest that mortgage rates have been all year. Now is a great time to take advantage of historic ... Read more »

Special Holiday Gift Idea

Posted by: RateAPY Bank Rates News
December 1st, 2009

You might think that the young person in your life will call you a square if you give them an online savings account as a holiday gift–but believe it or not, saving money is becoming trendy. Americans are saving at a far higher rate than in past years. The ... Read more »