Comments on: The Next Meltdown: Credit Card Debt http://www.YourMoneyMogul.com/the-next-meltdown-credit-card-debt/ How to Make More Money...and Live The Lifestyle You Desire Fri, 03 Feb 2012 00:52:30 +0000 hourly 1 http://wordpress.org/?v=3.0 By: sayrock http://www.YourMoneyMogul.com/the-next-meltdown-credit-card-debt/comment-page-1/#comment-59 sayrock Thu, 30 Oct 2008 00:05:15 +0000 http://www.YourMoneyMogul.com/?p=518#comment-59 Good observations. What's even scarier is that credit card debt is being securitized and sold off just like the mortgage-backed securities. I saw a good article about this at www.financialspeculation.com. "The securitized debt backed by credit card receivables is a $915 billion industry. Increased defaults could unravel the whole game, just as delinquencies in the housing market brought down the $900 billion in mortgaged-backed securities." http://www.financialspeculation.com/index.php/archives/38-the-coming-credit-card-debt-meltdown The authors, Jose Roncal and Jose Abbo have also just written a book called The Big Gamble with savvy information about spotting and avoiding financial bubbles before it's too late. Looks like Donald Trump has endorsed it, so it's got some good stuff. Good observations. What’s even scarier is that credit card debt is being securitized and sold off just like the mortgage-backed securities. I saw a good article about this at http://www.financialspeculation.com.

“The securitized debt backed by credit card receivables is a $915 billion industry. Increased defaults could unravel the whole game, just as delinquencies in the housing market brought down the $900 billion in mortgaged-backed securities.”

http://www.financialspeculation.com/index.php/archives/38-the-coming-credit-card-debt-meltdown

The authors, Jose Roncal and Jose Abbo have also just written a book called The Big Gamble with savvy information about spotting and avoiding financial bubbles before it’s too late. Looks like Donald Trump has endorsed it, so it’s got some good stuff.

]]> By: Credit News http://www.YourMoneyMogul.com/the-next-meltdown-credit-card-debt/comment-page-1/#comment-43 Credit News Sun, 12 Oct 2008 22:15:57 +0000 http://www.YourMoneyMogul.com/?p=518#comment-43 The credit card issuers have already been pro-actively taking risk measure. These includes measures such as reduction on card credit limit as much as 50%, increase APR(interest rates) and freezing balance transfers facility. If you max out on your credit card, it'll hurt your credit rating when the credit limit cut hitting you. it's advisable to make sure your spend only 50% of your card limit(30% is better). The best way o use credit card at the moment is treat it like a charge card, pay in full every month and do not try to use the money you don't have. The credit card issuers have already been pro-actively taking risk measure.

These includes measures such as reduction on card credit limit as much as 50%, increase APR(interest rates) and freezing balance transfers facility.

If you max out on your credit card, it’ll hurt your credit rating when the credit limit cut hitting you. it’s advisable to make sure your spend only 50% of your card limit(30% is better).

The best way o use credit card at the moment is treat it like a charge card, pay in full every month and do not try to use the money you don’t have.

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