More consumers paying credit card bills on time

In another sign of household belt-tightening, the rate of late credit card payments fell to a 17-year low in the second quarter.

The national credit card delinquency rate, which measures payments that are 90 days or more past due, was 0.6% at the end of the second quarter, according to credit reporting agency TransUnion. That's down nearly 19% from the first quarter and 35% from the second quarter of 2010, TransUnion said.

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More homeowners refinancing into shorter loans: survey

(Reuters) - More homeowners prefer to pay off their mortgages sooner as interest rates have stayed near rock-bottom and weak labor conditions have caused them to reduce their debt loads, a survey showed on Monday.

The current trend in refinancing into shorter-loan terms is a stark contrast to the one during the height of the housing boom, when families were taking out bigger mortgages against the rising values of their homes.

Of those homeowners who refinanced a 30-year fixed-rate mortgage during the second quarter, 37 percent moved into a 15-year or 20-year fixed-rate loan. This is the highest since the third quarter of 2003, mortgage finance agency Freddie Mac said.

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How a Credit Card Improves Bad Credit

If you have a problem with your credit score, you may consider using a bad credit credit card to improve it.  On this post, we present tips on how you can use a credit card for repairing bad credit:

• Choose an affordable card. 
• Pay on time.
• Use your bad credit credit card regularly. 
• Pay in full. 
• Use only half of your limit. 
• Plan your purchase. 
• Track your progress. 
• Upgrade to an unsecured card.

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Resources for YOU:

• Credit Cards for Bad Credit
• Secured Credit Cards