Carrying credit card debt is getting more financially wasteful for consumers as the Federal Reserve jacks up interest rates in a bid to tame soaring inflation.

Credit cards offer consumers convenience as both a payment vehicle and a source of short-term credit. Revolving credit permits consumers to enjoy immediate purchase of goods and services (in the absence of funds or in lieu of tapping savings), to make large ticket purchases without having to save for them in advance, and to smooth consumption in the face of short-term income and expense shocks.

Vice President Kamala Harris to announce reforms across four areas to ease the burden of medical debt, giving more American families the opportunity to thrive

Capital One Financial Corp. said it will stop charging customers overdraft fees, making it one of the largest banks to do so.

During this past year, we’ve heard countless stories about workers having to take time off or quit their jobs to tend to a serious illness or care for loved ones throughout the pandemic.

Almost one year ago, Congress authorized the first $1,200 stimulus checks to help Americans cope with the unprecedented coronavirus pandemic.

Amid the pandemic, a ceiling on payday loans extends … state by state. Read the Article >>