Better Credit Blog

MAY 10, 2022

Gas Station or Store Credit Card: Some gas station chains and retailers, like Target, offer store credit cards that don’t require an established credit history. With a secured card you’re the borrower and the lender. Your security deposit funds your credit line, taking away the risk to your lender.

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Credit Unions Credit Unions Banks Loans 90

True Accord

JULY 13, 2023

Debt increases showed up across almost all categories, with larger balances for mortgages , home equity lines of credit, auto loans, student loans , retail cards and other consumer loans. For lenders or collectors engaging with distressed borrowers, here are ways digital can boost your efforts: 1. 9%) to $17.05 Online payment portals.

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Financial Institution Student loans Student Loans Loans 70

Collection Industry News

OCTOBER 17, 2023

The average interest rate for all cardholders jumped to more than 21% in August, the highest on record, according to Federal Reserve data. Some cards — retail store cards, in particular — charge more than 30%, said Ted Rossman, industry analyst for CreditCards.com. Josh Hawley, R-Mo.,

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Credit Unions Credit Unions Accrued Interest Credit Card Debt 40

Collection Industry News

AUGUST 6, 2023

Over 50% of borrowers added debt on regular credit cards during the student loan payment pause and another 31% racked up balances on retail cards, a recent TransUnion analysis found. The smart consumer also will do everything in their power to start making payments so they’re not accruing interest on something they’re not making payments on.”

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Student loans Student Loans Credit Card Debt Loans 40