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According to the latest research, the level of delinquencies for credit cards is declining as well as the rate of credit card debt. TransUnion credit bureau reports that more people started to repay their debts and more credit cards were issued.

According to the reports, credit card interest rates have almost reached the record highs with the average rate of 14.72 percent, thus, if you have a credit card that is bad enough your rate can become as high as 59.9 percent APR.

Though, the declining rate of credit card debt has its dark side. TransUnion performed data proving that people just started to blow off their mortgages and pay the credit card bills instead. This happens due to the fact that consumers don't want to lose the access to their credit cards as it is important for people on the financial brink. Moreover, some issuers who write off or sell balances which have defaulted in order to reduce credit card debt.

According to the study made by Equifax, the credit reporting agency, US have a huge credit card debt that comprises $790 billion. There is a rating of top 10 cities of the US with the largest credit card debt

More people turn to cash. Credit card use declines. Interest rates and fees on credit cards increase. Will people refuse credit cards at all?

Following the Fed's report, default rates on credit cards decline due to the tight requirements provided by the issuers for getting credit approved.

These bothered financial instances have got sure thrown a wrench in the way folks treat credit score nowadays. In the not so far away past it had been fairly easy for folks to get credit rating acceptance. It was not unknown for a college student to get a couple of thousand dollars worth of credit cards with no credit scores. Mortgages might be experienced along together using tiny down obligations or no lower obligations.

There is one common thing amongst all the people who have excellent credit scores - their monthly payments on all their debts - loans and credit cards - are made promptly.

Debt on student loans increases constantly. It has even outpaced credit card debt. Default rate grow, especially in for-profit colleges.

Student loan debt may increase up to $1 trillion by the end of 2011. The current amount has already surpassed credit card debt rate.

For many people in India, credit score is still a vague concept and they know very little about it. Some people learn it the hard way - they apply for a loan or a credit card and their applications

The main problem concerning student loans consists not only in the fact that education is more expensive than ever, but also the factor of recession plays an important role as it's really the hardest time for college graduates who find it really difficult to get decent employment and earn enough for their loans repayment.