A new study predicts that the credit card industry “will continue to provide one of the most lucrative returns…within banks’ portfolios.” Though President Obama signed into law new regulations on credit card companies in May, many companies in the industry continue to report strong profits.
The analysis comes from Keefe, Bruyette, and Woods (KBW), an investment firm in New York City. A majority of credit card company stocks have risen about 150 percent in the second quarter, KBW analysts noted.
Considering the ailing economy and the financial struggles that many families across the country are facing, there is no better time than now to become financially educated and know what is going on with your own money.
As these companies continue to profit, often at the expense of unwary consumers, some credit card users may be looking to the government for some clarity on credit card rules and regulations. But ultimately, the responsibility lies with each individual consumer.
Bankrate.com took a look at credit card fees and terms and compiled a company-by-company comparison that may be useful when choosing a card for yourself.
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