Credit card defaults are on the rise

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	Credit card defaults are on the rise


	New figures from one of the nation's largest credit card companies finds that a growing number of Americans are falling behind on their credit card payments because of job losses and other economic factors.

	New figures from one of the nation's largest credit card companies finds that a growing number of Americans are falling behind on their credit card payments because of job losses and other economic factors. Reuters reports that American Express released data to investors yesterday which showed the number of credit card defaults rose last month with the company's charge off rate - the debts the company doesn't expect to recover - rising to 8.8 percent last month. Although it is an increase, the credit card company says there are some signs of an improving economic state for consumers with the amount of accounts that were 30-days behind in their payments falling 0.2 percent. Darin Newsom, a senior analyst at DTN, told BusinessWeek that while economic problems are expected to persist, these figures may be an indication that the market is bottoming out. "We haven't solved all of the problems yet, but the market likes these little indications that maybe some of the worst has passed," he said. In addition to increasing interest rates, credit card defaults can damage a person's credit score. One solution for these consumers is a prepaid debit card which can be a second chance for people with bad credit, credit card debt or those denied a bank account.

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*The USA PATRIOT Act is a Federal Law that requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. You will be asked to provide your name, address, date of birth, and other information that will allow us to identify you. You may also be asked to provide documentation as proof of identification. "100% Approval " and "Guaranteed Approval" is contingent upon successfully passing this mandatory identification confirmation.

Media Lead Exchange, LLC is a financial matching service - matching individuals with prospective account products. In order to get you approved, your information may be placed with several Banks or independent companies. Media Lead Exchange, LLC is not a financial institution. Media Lead Exchange, LLC will review your information and in its sole discretion, may submit your Application to one or several banks for acceptance. If your application is accepted, an account will be established by the bank for you and its terms, conditions and fees will be delivered to you by mail. You, the applicant, by using this account or its associated debit card, are acknowledging receipt of all the terms, conditions and fees for that account and agree to those terms, conditions and fees.

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