Economic crisis is growing fast and many credit card holders are now anxious lest they should fall into a considerable credit card debt. A lot of consumers are noticed in maxing out their credit cards and one can hear about “evil” credit cards here and there. Should you really avoid using credit cards during the economic recession or you can find the best credit offer and enjoy it in spite of the crisis?
Actually all depends on your credit history and rating. If your credit is bad, it will really be difficult to get a plastic as many banks are cancelling bad credit card deals and choose customers highly captiously.
If your credit is not bad, you will also face some difficulty applying for a credit card but if you succeed, credit crunch problems might not bother you.
First of all because good credit cards deals have lower rates if compared to bad ones.
Secondly, they have a higher limit so it’s more difficult to max out your credit.
And finally, if you behave as a savvy cardholder, you’ll have a nice chance to improve your credit score.
After all, it’s up to you to decide, just keep in mind that credit cards cannot be only an evil but one of the best tools to survive crisis.
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Archive for January, 2009
Credit Cards: Can They Be Beneficial During the Crisis?
Timothy Geithner: Old Rhetoric to Solve New Economic Crisis?
The actions President Obama has taken in the first days of office reinforce our audacity to hope that much needed change will take place to set America on the course to economic recovery.
The announcement to close the Guantanamo detention camp suggests his desire to return America to a moral high ground. The calling of world leaders on his first day of office reflects his desire to rejoin the international community and replace the go-it-alone approach with cooperation and consensus building.
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Cuts to city’s local aid were as anticipated
The level of mid-year local aid cuts Gov. Deval Patrick announced Wednesday for Fall River was within the $2.5 million to $3 million range Mayor Robert Correia said he’s been anticipating for several days.
Fall River will receive $2,890,146 less in state aid, virtually the entire cut from its lottery and supplemental lottery aid. Included in that amount is $223,244 of additional assistance.
The new lottery aid is $24.7 million, nearly 10 percent less than what was originally budgeted.
“It’s not as bad as it could be, but it’s bad enough,” Correia said.
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Index of leading U.S. economic indicators shows surprise gain in December
The index of leading U.S. economic indicators unexpectedly increased in December.
The Conference Board’s gauge rose 0.3 percent, the first gain in six months, after a 0.4 percent drop in November, the group said. The index points to the direction of the economy over the next three to six months.
The gain was driven by a jump in the money supply, which reflects the Federal Reserve’s campaign to unfreeze credit, including last month’s reduction in the benchmark interest rate to the lowest level on record.
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