Here's how the Fed's rate cut could impact your credit card balance
The Fed has slashed borrowing costs for the first time in more than four years. Here's how that would impact people with credit card balances.
Credit Cards
Looking to save money? Try using cash for these 3 purchases.
With credit card debt reaching a record high, consumers looking to save a few bucks should reacquaint themselves with the virtues of cold, hard cash.
Nearly half of Americans don't know their credit card APRs
Here's how not knowing what your credit card interest rate is can hurt you financially.
New protections for "buy now, pay later" shoppers
The Consumer Financial Protection Bureau announced Wednesday that lenders that offer "buy now, pay later" plans must provide customers with the same protections as those offered to credit card users, including allowing shoppers to demand refunds on returned products or canceled services. Jo Ling Kent has details.
Rules for "buy now, pay later" plans
The Consumer Financial Protection Bureau has announced expanded protections for Americans choosing to use the "buy now, pay later" options to purchase certain goods. CBS News senior business and technology correspondent Jo Ling Kent breaks down the protections.
Federal judge blocks White House plan to curb credit card late fees
The banking industry is mounting a last-ditch effort to block a new federal rule that would slash credit card late-payment fees.
Judge halts plan to cap credit card late fees
A federal judge in Texas Friday temporarily halted a Biden administration rule that would cap credit card late fees at $8, about a quarter of what they are now. Credit card companies receive about $14 billion in late fee payments per year, according to the Consumer Financial Protection Bureau. Elise Preston has more.
Fed expected to leave interest rates alone
The Federal Reserve is set to announce its third interest rate decision of 2024 on Wednesday. CBS News contributor Javier David, managing editor of business and markets at Axios, discusses what to expect.
Biden administration caps credit card late fees at $8
The Biden administration has introduced a rule capping credit card late fees at a maximum of $8, a sharp decrease from the current $32 average. This comes as a new task force is set to address illegal and unfair pricing practices in essential sectors like groceries, prescription drugs, health care and housing. CBS News business analyst Jill Schlesinger offers an in-depth analysis of what these changes mean for consumers.
Biden announces credit card late fee cap of $8
President Biden on Tuesday announced credit card late fees will be capped at $8, down from around $32. Nikki Battiste has the details.
Capital One-Discover merger: What to know
A potential merger between Capital One and Discover Financial Services is sparking antitrust concerns. The two firms are the fourth and sixth largest companies issuing credit cards to American consumers. Lucinda Shen, financial technology reporter for Axios, joins CBS News to discuss what the agreement could mean for consumers and the economy.
How to save hundreds of dollars on your credit card payments
Many consumers are paying up to $500 more in annual interest than necessary, and credit scores have nothing to do with it.
Your Delta SkyMiles American Express card is getting pricier
The cards will cost more but also offer enhanced benefits, including restaurant and rideshare credits.
56 million credit cardholders have been in debt for at least a year
American consumers' combined outstanding credit card balances hit a record $1 trillion in 2023, miring many people in debt.
Shoppers opened their wallets this holiday, defying fears of pullback
U.S. economy continues to plow ahead, as holiday shoppers shell out more on gifts this year than predicted.
Why George Santos faces House expulsion vote
Rep. George Santos, a New York Republican, pleaded not guilty Friday to the latest federal charges against him. Santos is accused of stealing his campaign donors' identities and racking up thousands of dollars in unauthorized charges on their credit cards. CBS News congressional correspondent Scott MacFarlane has the latest on how Congress may react to Santos' legal woes.
Retail credit card APRs rise to record highs, topping 30%
According to a Bankrate survey, the average retail card APR is now 28.93%, with some retail credit cards charging 32.24%.
Credit card APRs are surging ever higher. Here's how to get a lower rate.
More than a third of credit cards now carry APRs of nearly 30%. But to get a lower rate, often all you have to do is ask.
Consumer groups says Mastercard is selling cardholders' data without consent
Customers don't realize what the nation's second-largest credit card issuer is doing with their personal data, according to PIRG report.
Republican lawmaker proposes 18% cap on credit card interest rates
U.S. Senator Josh Hawley's bill comes as Americans have been saddled with more than $1 trillion in credit card debt.
Are medical credit cards worth it?
More Americans are turning to medical credit cards as they struggle to pay for medical bills, according to a new survey from the Consumer Financial Protection Bureau. CBS News MoneyWatch associate managing editor Aimee Picchi explains how the cards could impact your credit.
New York Fed: Loan rejection rates rising
More and more Americans are seeing their loan applications rejected. The Federal Reserve Bank of New York reported that rejection rates are up for many loans -- including mortgages, auto loans and credit cards. John Vivian, senior director of finance consulting firm Potomac Global Partners, joins CBS News to help make sense of the lending landscape.
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President Biden and first lady to meet shooting victims' families; Americans relying on credit cards and other methods to pay for items
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Federal Reserve hikes interest rate by 0.5%; Comedian Dave Chappelle attacked on stage
The pros and cons of airline credit cards
As we head into the height of the summer travel season, many people are looking for the best way to stretch their travel budget. Airline credit cards offer perks and points which may sound ideal, but travel experts warn the benefits may not be worth your money. Wall Street Journal travel reporter Jacob Passy joined CBS News to break down the pros and cons of different cards.
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Vance says "selling access to the White House" is "disgusting"
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