Find Financial Freedom by Paying Off Credit Card Debt

As the outlook for the economy becomes brighter, consumers are becoming more confident in their financial situation and less cautious with their spending. This changed perspective can lead to reckless consumer spending, and consequently more credit card debt. While spending more than you make is usually unsustainable, sustainability depends on your income, expenses and other personal circumstances. A recent article on[...]

New Equifax Report Shows Changing Consumer Borrowing Habits

  A recent report from Equifax shows that consumer borrowing is increasing, with the total credit balances for Americans hitting its highest level in more than five years in November 2014. In addition, non-mortgage and home-finance write-offs were at their second lowest level in eight years. According to the Equifax National Consumer Credit Trends Report, consumers had a total of $3.1 trillion in[...]

Equifax Recommends Against Using Retirement Savings to Pay Down Debt

Many Atlantans who are saving for retirement but have credit card debt may consider using those retirement savings to pay off the high-interest debt. According to data from the Federal Reserve, the average American household has $15,480 worth of debt, while more than 77 million Americans have debt in collections. With such a staggering amount of people in debt, it’s no[...]

How to Calculate Your Credit Card Interest

If you aren’t paying your credit card balances in full each month, you probably see your interest charges on your credit card statement each month, but do you know how those are calculated? When you are building your credit score for a mortgage for your next home, this information is key. The Equifax Finance blog explains credit card interest calculations[...]