The study found that having strong social ties on Facebook tended to boost peoples self-esteem. In turn this resulted in lower self-control, which then transferred into higher credit card debt. Stephen admitted the study did not prove Facebook caused higher debt, conceding it could be the other way round and people with higher debt may just happen to use Facebook more than those with lower levels of debt.
Source: digitaljournal.com
Video: Dateline NBC ? Credit Card Debt Trap Part 1 of 10
Intense Facebook use goes with higher credit card debt
Online: kinder, gentler Wilcox and Stephen?s study ? submitted to the Journal of Consumer Research and published online last month ? builds on previous work that has shown that participating in social networks makes people feel better about themselves. Researchers say that?s because people receive affirmation and support from their friends, and they share information about themselves that others find witty or entertaining ? while generally filtering out and setting aside negative feelings.
Source: creditcards.com
Getting out of debt ? Can credit card consolidation be of any help?
If you are too deep into debt, can credit card consolidation help you to get out of it? The answer to this is yes, but, you will also be required to make sure that you are going to change you have been spending money, and using your credit cards. Credit cards make shopping easy, as you need not carry cash, and even if you are having cash crunch, credit cards help you buy things of your choice, as per your needs. However, this again leads you into debt, as you may not be able to pay down the money charged through the credit card. You can learn more here about credit card consolidation and how exactly it will help you.
Source: ccardzone.com
Pay Down Your Credit Card Debt Faster with a Balance Transfer
A person above transfer $5,000 from a card with a 14% rate to one that offered a 0% rate for 18 months, paying $100 a month would reduce debt to $3,450 in a year in a half. After the 0% rate expires, it might be possible to do another balance transfer. But even without that, continuing to pay $100 per month would help that person become debt free in five years and three months and only cost them $990 in interest. By doing a balance transfer, they save $1,500 and get out of debt a year faster.
Source: beingfrugal.net
Target Sells Credit Card Debt To TD Bank
?The portfolio will be sold for an amount equal to the gross value of the outstanding receivables at the time of closing, Minneapolis-based Target said today in a statement. TD also agreed to a seven-year deal to underwrite, fund and own the retailer?s future credit card and Visa receivables in the U.S., the companies said.?
Source: businessinsider.com
Parents? Money Fights Put Kids In Debt
As it turns out, women were more likely to carry multiple credit cards, as were students who admitted in the survey that their ?parents usually argued about finances.? In fact,?the latter group was three times more likely to be carrying debt totaling over $500 than students who claimed their parents never quarrelled about money, even if they were from well-to-do homes.
Source: businessinsider.com
Positive Trends Regarding Credit Cards And Debt Management Processes
Some experts believe that once debt from payday loans has worked its way through the financial system, a new round of financial difficulties will arise. Consumers find it easy to qualify for payday loans and the high interest rates are not deterring them from using this credit. This combination is a recipe for disaster, say some economists, and the effects have yet to be realized. These experts say that payday lenders perform relatively little due diligence with borrower approvals and this will become clear when debt management issues increase in scale.
Source: uk.com
Credit Card Debt Consolidation: Consolidate Your Finances
Credit Card debts can prove to be a hindrance to your finances. It has been seen that the number of credit card users has increased steeply in the recent decade and more and more people are getting embroiled in the business of debts. Sometimes the debt is such a sky-high amount that the people have no choice but to actually forgo their cards. Credit Card Debt Consolidation comes to the rescue here. It is a novel and sure shot way to get rid of your debts without proving to be a big burden on your financial stature. Credit card debt consolidation is a simple process. Here, what is done is, another loan is taken out in lieu of others and this helps to pay back the other loans. The process is mostly preferred by many users because it gives them an easy and non-taxing path to get rid of the squalls of their various debts. The biggest advantages with this is: 1. It is done to have a lower rate of interest 2. It also becomes easy to secure a fixed rate of interest 3. Interest rate is also very less in order to secure another loan 4. Credit Card Consolidation is a favorite contingency plan for many because they believe that it is much easier to reduce the high interest rates. 5. Additionally, the steps involved in a Credit Card Debt Settlement are simple and can be followed by any laymen.
Source: shvoong.com
Emergency Credit Card Debt Help
Emergency Steps to Follow when Your Credit Card Debt is Getting out of Control Anyone cannot help but just feel helpless when there is an unmanageable credit card debt. It is usually too difficult to emerge out from the situation especially because there can be an abrupt financial factor and credit cards keep on imposing hefty interest rates and fees. Failure to pay at least the minimum required monthly payment can make matters worse due to addition of penalties and more fees. What should you do if you suddenly realise that your credit card debt is getting out of your control? Here are some effective ideas that can be of help.
Source: finance-blog.eu
10 tips to beat credit card debt
If you are unable to pay the minimum monthly payment amount, be proactive and call your credit card company.? Missed payments, late payments and, worst of all, non-payment can affect your credit rating. Avoid all of this pain by talking to your credit card company and explaining your situation. Most companies are understanding of ups and downs in their customer?s financial situations and will try to work with you. However you will still be accruing interest on your card so make sure you get on top of those payments fast!
Source: com.au
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Tags: cash crunch, credit card consolidation, dateline nbc, Debt, rate
Source: http://debtconsolidationsanjoseco.com/study-links-high-facebook-use-with-higher-credit-card-debt/
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