Credit Card Offers

Today’s top news headlines feature a new poll revealing most Americans support the Consumer Financial Protection Bureau and growing concerns over retirees’ healthcare expenditures. Plus, find out what happens if the government does not raise the debt ceiling.

CFPB Backed By Americans, Poll Reveals The Huffington Post A new poll shows 63 percent of Americans support the Consumer Financial Protection Bureau, saying they prefer more federal oversight of the financial industry, rather than less. In addition, 74 percent of respondents across all political spectrums agreed with establishing a single agency to act as a consumer watchdog and protect individuals’ interests. Howev

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More and more consumers use their credit cards to buy necessities like gas and food, according to a recent report. Americans are using plastic to make up the difference between stagnant wages and rising prices, which could soon put them deeper in the hole.

“People are dealing with higher prices by charging. Yes, it’s that simple,” says Silvio Tavares, an analyst at FirstData, the largest credit card processing company in the country.

Spending is up, which is usually good news. Credit card purchases in June 2011 were 8% higher than they were a year ago, FirstData finds.

But that’s not because consumers are feeling flush. The inc

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Question: Cathy from Phoenix wants to know if she applies for credit and is denied for any reason, will it hurt her credit score?

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We recently received this question from a reader who is having trouble keeping up with payments on a credit card that was closed by her card issuer.

Question: I had an ever expanding line of credit at Citi that eventually made it up to $17k when I was a recent and very poor grad student who essentially lived off the card. (Yes!!! Lesson learned.) A couple years ago, Citi decided it wanted out of the relationship and terminated the account. I have been diligently paying the minimum, cutting down the amount owed to $12,000 now.

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Wells Fargo recently agreed to pay an $85 million fine stemming from Federal Reserve charges about falsified mortgage applications and attempts to draw borrowers into taking out costlier loans than necessary, according to a report from Bloomberg News. It was the largest civil penalty ever issued by the central bank in a consumer protection case.

As part of the deal, Wells Fargo will reevaluate qualifications for all borrowers who received a subprime cash-out refinance between January 2006 and June 2008, and must compensate those who were financially hurt by their predatory practices, the report said.

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Today’s top news headlines feature the details of the Countrywide homeowner’s settlement and new ways Americans are making money by selling off their assets. Plus, find out why the most recent debt proposal may disproportionately affect women.

Consumers Sell Off Gold As Price Goes Up CNN Money The price of gold rose to a new high this week, and many consumers who are strapped for cash are selling family heirlooms, gifts and jewelry for additional income. However, the value of gold is expected to decline as the government approaches the deadline to raise the debt ceiling, prompting many individuals to sell off their precious metals before the price plummets.

Homeowners To Get A Piece Of Countrywide $108 Million Settlement The Associated Press More than 450,000 borrowers who secured a mortgage through Countrywide Financial Corp. Read full post…