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Credit Card eZine - News and Articles about Credit Cards

Credit Card eZine - News and Articles about Credit Cards

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Customers using credit cards for basic purchases


In a new trend being noticed today, an increasing number of customers are using the credit cards to pay for basic items such as food and gas. This does not come as a surprise considering the fact that the increase in prices is not proportional to the increase in the income of many households in the country.

A financial analyst from First Data based in Atlanta, Silvio Tavares, says that customers are using their cards for basic purchases in a move to cope with the increase in prices of all commodities. While customers are burning a deeper hole in their pockets, credit card lenders are a happy lot considering that a lot of consumers are now using the cards without any restraint. FirstData reports indicate that customer spending on credit cards in the month of June this year was 8 percent more than what it was 12 months ago.

This increase in cost is definitely not an indication of customers getting more income. It is the sign of increase in prices. The prices of gasoline today are roughly 30 percent higher than what it was at the same time in 2010. And people who are using their cards to pay for their basic needs are not paying off their dues in full each month. This implies that there is debt slowly piling up which needs to be taken care of at the earliest to prevent the problem from burgeoning further. While Americans have put in conscious efforts to reduce their balance consistently since the beginning of the year, the increase in prices is surely throwing them off guard.

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[Sunday, December 18, 2011]
Chase Bank recently announced the redesign of its Visa credit cards - allowing more space on the front for the Chase logo. This new design is in trial mode currently but Visa has pans to roll out its new design to other financial institutions in order to increase the branding and logo visibility of the individual issuing banks.
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[Friday, October 28, 2011]
Debit and credit: they`re both plastic, why not consolidate them? The Cinncinati-based Fifth Third Bank, is the first to offer the DuoMasterCard which consolidates both a checking and a credit card account into one card.
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[Wednesday, September 21, 2011]
It really pays when you do the right thing. Take credit cards for instance, having a clean credit profile really does help. Those who managed to maintain a squeaky clean credit report during the recession can now jump with joy, as they will get some of the best deals from credit card issuers.
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