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A new kind of credit card is set to draw consumer interest soon. The US Fifth Third Bank has announced its plan to introduce a new kind of credit card on the market for the first time. The card, dubbed the Duo Card, will combine both debit and credit card accounts on one plastic card. Consumers using the card will have the option to use the card by accessing their bank account directly or their line of credit. This will eliminate the need to carry multiple cards in a wallet and still have access to your money.

The Duo Card will also feature popular credit card programs such as rewards programs where customers can cash in points earned on purchases to repay loans received from the bank’s line of credit. Additionally, like a traditional credit card, interest rates will vary based on consumer credit scores. Currently the annual percentage rates are Read more…

For consumers who have consistent excellent credit scores, experts warn that ignoring regular reviews of credit reports can spell trouble. Credit reports account for all of the credit activity going on in a consumer’s financial life. It may also be the first indicator that something is wrong and further investigation is necessary in regard to financial criminal activity.

Identity and credit card theft is still on the rise and if consumers forgo checking into their own credit reports, they may be missing red flags that someone has hacked their identity. Because technology has afforded may more ways for criminals to secure credit card and other personal information, it is imperative for consumers to Read more…

The debt of the United States is growing by leaps and bounds and as a result, Standard & Poor has downgraded the nation’s credit rating. While the effects of the lowered credit score of the country have yet to be fully determined, it is safe to say that the excess spending in Washington reinforces the need for consumers to get a handle on personal credit scores.

Consumers are still spending too much and not paying off debts in a timely manner. Those who are in need of financing in the immediate future need to consider credit repair efforts before applying for a loans or new lines of credit. With the nation’s debt crisis affecting many things, interest rates being offered on loans and credit cards will likely rise

Those who already have bad credit scores need to Read more…