In the wake of the worse financial lending crisis in nearly a century a new finance website is launching in effort to provide consumers with debt consolidation cards, new issue credit cards and debt consolidation / debt relief information. Debt Consolidation Cards lets you compare top debt consolidation credit card offers available to consolidate your debts to a new lower rate. In some cases this new lower rate is 0% and good for a year or more. In addition to debt consolidation credit cards Debt Consolidation Cards provides a wealth of credit card information and credit card articles to help consumers learn more about credit card options to make the most informed decisions.
State of the Credit Card Market
2009 is shaping up to be the toughest year ever for credit card companies. Capital One a leading issuer of MasterCard and Visa credit cards, recently reported that US credit card defaults rose in March as unemployment soared. Citigroup said recently that credit costs at its North American card business almost doubled, rising 91%, in the first quarter as stressed consumers continued to miss payments and default at increasing rates. Finally, Bank of America reported $182 billion in card loans as of Dec. 31 and this number may well rise in 2009. Another thing hurting credit card issuers is transaction volume is remaining low as is charge volume which recently experienced declines of 16 percent and sales volume declines of 9 percent. All of this translates to higher rates and additional fees for consumers as bank try to hedge their rising costs and losses.
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