Consumer Credit

Credit card holders facing disaster?

Government intervention or not, banks will be cutting up America's credit cards at an unprecedented rate, with grave implications for the economy and company profits. Commentary

Commentary: Find gift bargains

Plastic loses its shopping cool

Americans are discovering that it is no longer OK to just put it all on plastic as banks are curbing their issuance of new credit cards and the credit available on existing ones. Full Article

Asia to dodge credit beating

Frugal culture may be a saving grace as the global financial crisis and a worsening economy make it tougher for consumers to repay mounting debt. Full Article

Credit-card industry may cut $2 trillion lines: analyst

The U.S. credit-card industry may pull back $2 trillion of lines due to risk aversion and regulatory changes. Full Article

U.S. retail tracker slashes holiday sales forecast

A leading consumer research firm slashed its 2008 holiday retail sales forecast to a 3.5 percent drop from last year. Full Article

Retailers and credit card lenders at odds

While retail stores aggressively promote use of their cards, lenders are increasingly wary of consumer defaults. Full Article

Credit card weakness a vicious cycle for lenders

Efforts by large credit card issuers to gird for historically high customer defaults may actually worsen the crisis. Full Article

Consumer relief could take months under Fed plan

Individuals will have to wait for at least three months for easier access to credit, according to analysts. Full Article

Americans embrace saving as nest eggs shatter

Those who were banking on soaring home and stock prices will have to go back to saving the old-fashioned way. Full Article

The rise of Consumer Credit

U.S. households took on an additional $8 trillion in debt over the past decade as the housing boom drove increased mortgage borrowing. Flush with newfound housing wealth, consumers saw less need for other forms of savings.