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Credit Card Debt Falls Again in August to New Low

by Patrick Lunsford October 10, 2011 (Be the first to respond)

Consumers in the U.S. took on less credit card debt in August as banks continued to charge-off past due accounts, resulting in another net loss in card debt outstanding. The total amount due on credit card accounts fell to the lowest level since the financial crisis began.

Banks’ Return to Card Marketing Good News for ARM Industry

by Michael Klozotsky October 10, 2011 (Be the first to respond)

As The Credit Card Issue sponsored by IAT SmartDial draws to a close, some final thoughts (and a glimmer of hope?) from insideARM’s managing editor.

It is Time to Pay Attention to CFPB Developments and Credit Cards

by insideARM.com October 6, 2011 (Be the first to respond)

With Congress back in session and looking to help create jobs and improve the U.S. economic outlook, it is important for our industry to monitor the implementation process for the CFPB and provide context to make certain the outcome is rational.

Continued Evolution of Credit Card Risk and Market Trends

by Jacqueline Maybaum October 5, 2011 (Be the first to respond)

If done right, credit card issuers can hone in on shifting demographic trends so that they can continue to service a diverse universe of segments and generate profitable growth.

Rays of Light Shining on the Credit Card Sector

by Mark Russell October 4, 2011 (Be the first to respond)

There are distinct market trends unfolding that give validity to the notion that the credit card sector is finally bottoming out, and is poised for growth in the future.

Limiting Common Sense Communication One Credit Card Contract at a Time

by David Ashe October 4, 2011 1 Response

Some litigation seeks to crack down on abusive practices, yet allows more leeway for creatively construed claims to continue alleging FDCPA violations. Has the arrival of these interpretations of the FDCPA brought added relief to the debtor as expressly stated in the CFPB’s mission?

Debt Settlement Companies in the Credit Card Vertical

by Teresa Dodson October 3, 2011 (Be the first to respond)

The debt settlement industry came into its own in 2000, and has grown to over 2,000 companies in 10 years. In the current economic environment, more consumers are having to juggle greater debt loads over several platforms – primarily credit cards.

How Low Can Credit Card Chargeoffs Go?

by Patrick Lunsford September 30, 2011 (Be the first to respond)

Credit card chargeoff rates at U.S. issuers have plummeted in the past 12 months. But it should be noted that the current charge-off rates are still above historical averages. So how low can credit card charge-off rates go?

Credit Card Collectors on the Front Lines of Consumer Litigation

by Jack Gordon September 29, 2011 2 Responses

Consumer activists and attorneys hold a special place in their litigious hearts for credit card debt buyers and collectors, especially when the paper is older.

Subprime Lending and the Credit Card Market

by Gabriel Tavarez September 28, 2011 1 Response

The sub-prime credit card market is expanding; on its face its growth seems to be fueled by the ongoing recession. A deeper look into the issue shows that although the recession is a contributing factor, it is likely not the key factor fueling the growth of this market segment in the credit card industry.

Dusting Off the Credit Cards – A Sign of Recovery?

by Chris Schumacher September 28, 2011 (Be the first to respond)

Credit card usage has been up this year for the first time in several years – in March, American Express reported spending was up 13% over last year, with Visa 9% up, and MasterCard 5%.

The Medium is the Message: Credit Cards As Art

by Mike Bevel September 27, 2011 (Be the first to respond)

Artist Cain Motter has taken credit cards and melted them into a potent medium for artistic expression — and just in time for the holidays!

The Changing Debt Relief Industry – One Year Later

by Andrew Housser September 26, 2011 4 Responses

New FTC rules regulating the debt relief industry took effect one year ago. Because of these rules, the entire industry has changed and continues to evolve dramatically.

$3M in Phony Credit Card Debt No Help to Weak Economy

by Michael Klozotsky September 23, 2011 (Be the first to respond)

Another case of Doing it Wrong: credit card style (AKA when $3M in “new consumer spending” is a very bad thing).

Why You Should Pay Attention to the Credit Card Issue

by Mike Ginsberg September 23, 2011 1 Response

Credit cards have arguably been the largest source of new business for the ARM industry for more than two decades. It leapfrogged over healthcare back in the 1990s and while it has experienced significant change in recent years, credit cards remain as one of the largest market segments in ARM.

NFCC Requests Regulation of Fair Share; Credit Card Issuers to Pay More

by Mike Croxson September 22, 2011 (Be the first to respond)

A proposal that will mean new regulations – and new costs – for credit card companies is likely still flying below the radar screen of the companies that the regulations will impact the most.

Shifting Focus From Credit Card Collections

by Nick Jarman September 20, 2011 1 Response

It seems as though the last several years has been a gut check for collection agencies: it has forced them to either enter into other business segments they ordinarily would not, or put them in a position of working types of accounts where there may not be much experience.

Credit Card Collections: Preparing for the Storm on the Horizon

by ACA International September 19, 2011 3 Responses

As the credit and collections industry weathers the economic storm of the past few years, there are those who believe that the sounds of thunder and lightning threaten its very survival. But regardless of whether you collect credit card debt, student loans, or other receivables, this is the moment and opportunity to positively shape our future.

Two Powerful Words in Credit Card Collections

by Steve Coyle September 19, 2011 (Be the first to respond)

I hope your credit card collectors strive to be neither rabbits nor tigers, but simply humans, by using two simple but powerful words: ‘Sorry’ and ‘Help’.

Major Credit Card Issuers Report Uptick in Average Charge-Offs in August

by Patrick Lunsford September 16, 2011 3 Responses

The average net charge-off rate at five of the largest U.S. credit card issuers increased slightly in August, bucking a 12-month trend of declines. The average delinquency rate declined slightly.

Reporting Credit Card Delinquencies: 10 Red Flags to Watch For

by Elye Sackmary September 16, 2011 1 Response

We all know that reporting delinquencies to credit reporting agencies (CRA) is a great way to get an individual’s attention. But the ARM industry must be diligent in fulfilling our obligation to be responsible reporters.

Marked by Character: A Look at Credit Cards from a Debt Collector’s Perspective

by Mark Mathia September 15, 2011 (Be the first to respond)

It’s worthwhile to get an exclusive look at the credit card industry from a debt collector’s perspective.

Pre-paid Cards: The Wave of the Future, or a Wave Goodbye?

by Mike Bevel September 15, 2011 (Be the first to respond)

It’s a new world for consumer credit, an expensive one at that. Are additional fees and onerous standards driving more Americans to prepaid card products? And is that a good thing?

Credit Cards are a Big Issue for the ARM Industry

by Michael Klozotsky September 14, 2011 (Be the first to respond)

For the next few weeks, insideARM.com will be drilling down on the largest and most mature sector of the debt collection and ARM industry: credit cards.

The Psychology of Credit Card Collections: Then and Now

by Chris Bradbury September 14, 2011 3 Responses

Things have changed dramatically for the credit card collectors over the past few years — and not just the market segment itself. The events of 2008 have done more to alter the psychology of card colletions than perhaps any others before it.