Consumers currently caught in a credit card debt trap are eagerly awaiting the regulatory changes initially set to take effect in July 2010. All signs are good that these changes will take place much sooner.

With that in mind, it’s interesting to look back at regulations that did and didn’t exist in the early days of the credit card industry.

For instance, until the mid-70′s there were virtually no regulations other than those imposed upon members by the industry itself.

Banks eager to cash in on the interest paid on revolving credit card accounts were aggressive in gathering new customers – so aggressive that they mailed active credit cards to consumers who had not asked for them.

Some of those consumers were income-earning adults, but some were not. Read full article…

After a long period of cutting back on credit card offers and otherwise tightening terms, credit card companies may be getting ready to increase lending again. Card issuers boosted the number of credit card offers they sent out in the last three months of 2009 by 47 over the previous three months, according to direct mail researcher Mintel Compermedia.

Still, for people with bad credit scores, there was bad news: they are not likely to be invited to the party. In a recent survey by Federal Reserve, most major banks, which include the largest credit card lenders, indicated that they continue to be less likely to grant credit to consumers with poor credit, even as they are easing the pull-back in lending in general.

There is already evidence of this: the number of new credit cards issued to people with bad credit fell by 63 percent in the second quarter of 2009 compared to the second quarter of 2008.

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What can credit card issuers do to get cardholders to make more purchases? As this question would seem comical, it is one that has probably been brought up in every credit card issuers’ boardroom across the country. While it may seem like the answer is simple, now that many people have shifted to other forms of payment, card issuer may have more to worry about than lowering interest rates.

While lowering interest rates is one thing that could possible get consumers to start using their plastic more, it is only part of the answer. After a year of increased interest rates and decreased limits on majority if not all cardholders, many have had no other choice but to rethink how they will pay for goods and services. D

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Start building up a good credit early in your life. You can do this easily if you get a secured credit card. If you are already in your adult years and have never had an opportunity to establish credit, this is also good for you. Almost all individuals will need to get a loan at some point in their lives, and when this time comes, loan companies will definitely check on credit standing to see if a person is qualified or if they can be trusted. Without a good credit history, companies may refuse to let you borrow from them. Thus, it is important to build a solid credit history if you can.

There are many ways to do this, but most people turn to a secured credit card because this is the most accessible. This card works in a simple way. It is a secured card that uses money deposited to your account.

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Your work might require you to travel from one place to another. You might be required by your boss to attend seminars or meetings to different states. If you are one to fly often, it would be helpful to know that you have an opportunity to actually save more as you fly more. This is all possible because of the frequent flyer credit card.

You might have heard of this before, but never really paid much attention to it. A frequent flyer credit card is one that is partnered with a specific airline so that every purchase you make using your card awards you with point equivalent. You try to accumulate as many points as possible and these can be exchanged for discounts or freebies.

The list of benefits is quite overwhelming. For starters, you can get big discounts on ticket purchases.

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