Borrowers continue to pay record low rates, with one major exception: credit cards. Banks have been raising rates on credit card users of all stripes over the past year, but those with no credit histories or poor credit scores saw the biggest increases.
With student loan default rates rising due to persistently high unemployment rates, it's easy to vilify the seemingly endless monthly payments that follow graduation. But take a closer look, and you'll find that the news about student loans is more good than bad.
Credit scores affect many aspects of our lives -- more than you may think. Paying bills on time and staying well below your credit limits are sure-fire ways to build and maintain good credit. But there are some lesser-known strategies to boost your score as well.
In these shaky economic times, your credit score carries more weight than ever, which means building a credit history is vital. Paying bills on time is one thing that buffs up your score, but until now, paying your rent meant nothing. Credit bureau Experian and RentReporters.com are changing that.
Prepaid credit cards are marketed as a great tool for training teens about credit. But critics point to a long list of steep fees and penalties. That leaves parents to figure out if the credit lessons are worth the money. Here's what to consider before buying that card.
