How Credit Card Defaults Affect Banks in a Crisis?

Answer While customers benefit from having bank credit cards to give them spending freedom and while banks benefit from the interest charges billed to consumers, both borrower and lender suffer when credi... Read More »

Top Q&A For: How Credit Card Defaults Affect Banks in a Crisis

How to Avoid Losing Your House From Credit Card Defaults?

Credit card debt is unsecured, meaning there is no collateral for the debt other than your signature and promise to pay. However, creditors and debt collectors can file a lawsuit against you if you... Read More »

If I Negotiate With Credit Card Companies Myself, Will It Negatively Affect My Credit Score?

If you lose your income, you may find yourself with credit card accounts that you are having trouble paying. As these balances become past due and move further into delinquency, account holders may... Read More »

How long do banks have to retain credit card statements?

Your bank will not retain your credit card statements, your credit card company will. Even banks that issue their own cards have separate credit divisions. However, most banks hold onto their recor... Read More »

How do banks make money from credit card companies?

Banks make money from credit card companies by issuing credit cards and charging interest rates and fees. Many banks also own credit card companies, so they share in their revenue.Source:Money Unde... Read More »