The Federal Reserve has released data on consumer debt for August, and for the 11th month in a row we’ve paid down credit card debt and increased savings. Take that, rate-hiking credit card companies!
revolving debt
The Downside To Alternate Payment Systems
By 1.8.08
If you use services like Bill Me Later, eBillme, or Pay Payl’s Pay Later—payment options designed to let you pay online without using a credit card—you should be aware of the risks as well as benefits that come with them, writes SmartMoney. The most important thing to consider: as far as FICO is concerned, you’re applying for a line of credit (with the potential for high interest rates) when you pay with one of these systems, and your credit score may drop accordingly.
