Credit Card Debt

My new study out this week from Demos and the National Council of La Raza (NCLR) looks at credit card debt in the Latino community. But it isn’t ultimately about credit cards at all. Instead, it’s a look at how our unemployment insurance system has failed to protect out-of-work Americans, how vast...
10/30/2014
Blog
Americans cumulatively have $854 billion in revolving loan (mostly credit card) debt, according to the Federal Reserve. The amount has actually declined since the Great Recession, as credit card issuers tightened their lending standards, borrowers became more cautious, and strong and effective...
05/01/2014
Blog
Since the days of Diner’s Club, credit cards have evolved to become a key element of American household finances. When emergency strikes we may not have cash in hand, but with access to credit cards a broken arm, a busted furnace, or a last-minute plane ticket doesn’t have to leave our families...
02/18/2014
Blog
Middle-income Americans age 50 and older are now carrying more credit card debt on average than younger people, according to a 2012 study released by Demos. This is a reversal of the findings from the Demos survey which took place in 2008. The report, entitled 2012 National Survey on...
03/12/2013
News/Resource
“It's just dumb to approach retirement with a bunch of credit-card debt.”  That’s the response of one personal finance expert to a recent Demos study on older Americans and credit card debt. My research found that among low- and middle-income Americans carrying credit card...
02/21/2013
Blog
What would you do if you were laid off from a job? While you looked for a new position, you’d likely cut expenses as much as possible and begin drawing on any savings you have to pay the bills you can’t avoid. As time went on, you might turn to family, friends, and community...
12/20/2012
Blog
The Fed's announcement that it would keep interest rates at nearly zero until unemployment falls below 6.5 percent was, by most measures, good news. Although cheap money has proven to be no great solution to a weak economy, it has had some positive effects. Just ask anyone who has managed to...
12/13/2012
Blog
The students assembled outside Borough of Manhattan Community College yesterday morning were indignant. “Students are juggling college expenses and family obligations,” declared student government representative Shadae Blair, “one reason we seek an education is to get ahead in...
10/16/2012
Blog
Americans are increasingly dependent on credit cards just to put food on the table and keep the lights on, a new study shows. Although we’re doing a better job overall paying our bills on time these days, many people are relying on more easily attainable credit just to keep their heads above water...
05/30/2012
News/Resource
“I can afford to get ripped off,” Stephen Colbert informed Demos’ Tammy Draut back in May 2009 “I think it’s the poor people who can’t afford to get ripped off who are ruining this for everybody.” The joke hit the mark, but Comedy Central’s satirical...
05/22/2012
Blog
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