More cardholders are making extremely late payments than ever, and analysts fear their ranks will swell soon. Are the customers at fault--or the companies? Find out why credit blogger Lita Epstein blames the card issuers for building inescapable traps.

In a mixed statement on the state of the economy, fewer Americans were behind on their credit card payments from October to December than during the same period in 2007, despite tighter credit and mounting job losses.

Some credit card companies seems to be double dipping -- they allow you to spend more than your credit card limit, then charge you a fee for doing so. What do the Dolans say to do? What the video below for their answer.

The new card offers rewards for MySpace music and downloads and for "doing good." But what about the interest rates and safeguards for "generation forward" not to get into a tremendous amount of debt? Those features are lacking.

Credit card companies are starting to cut back on their reward programs, offering less for more and imposing stricter rules for redeeming points. What's next on the chopping block?

A WalletPop reader is paying off her credit card debt and wants to celebrate (and keep herself out of trouble) by closing out some of her old cars. But Ken and Daria Dolan say, "Wait!" Listen to their advice on what you should do before you make that cancellation call.

The credit card company is willing to give out a $300 cash card to those with overdue balances if you pay off your account and scram. Would you be willing to pay off your debt for that incentive?

While everything else is slipping, identity theft is on the rise, jumping to a record 9.9 million victims in 2008, which is up 22% from 2007. Approximately one in 23 U.S. adults became victims, according to Javelin Strategy & Research, who released their fifth annual study today. Total loses increased after three straight years of decline, but the loss per victim fell by 12% to $4,849 from $5,488. The most positive trend is that individuals spent 31% less (an average of $496) to clean up the mess. More than half of victims didn't have to spend anything to clean up after a fraud.

In a victory for Republicans, the Senate votes to raise a $7,500 tax break for first-time homebuyers to $15,000. The measure is aimed at reinvigorating the housing industry, whose downturn in 2007 tipped the first dominoes of recession.
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