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Over half of student loan borrowers racked up credit card debt during the payment pause—now experts worry about ‘shock’

Collection Industry News

Federal student loan borrowers have had a break from paying back their student loans for over three years now. Though the forbearance may have given them breathing room, helped them add to their savings or pay down other debts, inflation creeping up throughout 2022 undermined a lot of that progress.

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How to Get Your First Credit Card

Better Credit Blog

With good credit, you’ll be able to access low annual percentage rates on mortgages, auto loans, and better credit cards with perks or no annual fees. Option 2 could wreck your credit score because you’re more likely to make late payments and carry large balances. How to Get Your First Credit Card.

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Lawmakers take aim at credit card interest rates, fees as cardholder debt tops $1 trillion

Collection Industry News

Some lawmakers and regulators are calling for interest rate caps and lower fees on credit cards as debt levels march higher. Total credit card debt topped $1 trillion in the second quarter of 2023 for the first time ever. proposed a 36% cap on consumer loans in 2021. Jesús “Chuy” García, D-Ill.,