Washington, D.C., United States (AHN) – Consumers decreased their credit card debt by 11 percent last year, with the average debt load declining in every state.

That information came from a report released Tuesday by credit tracking and financial education website CreditKarma.com. It analyzed data from more than 300,000 of its users.

“The new year typically inspires consumers to get in control of their finances, especially after the bout of holiday spending that occurred in December. Starting in January, you’ll see consumers start focusing on decreasing debt,” said Ken Lin, CEO of CreditKarma.com.

CreditKarma.com found that the average credit card balance was $6,576 in 2011, down from $7,404 the previous year.

However, that decline came in a climate of weak consumer confidence, which kept spending down as banks continued to tighten lending while slashing credit limits for many existing customers.

While credit card debt was down, so were credit scores.

Nationally, credit scores fell eight points to 660 in 2011 from the previous year.

States with the highest average credit scores are:

• California, Massachusetts and New Jersey — 679
• Washington — 675
• New York — 674

States with the lowest average credit scores are:

• Mississippi — 622
• Louisiana — 635
• Arkansas — 635
• South Carolina — 635
• West Virginia — 637

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Speaking at a General Electric plant in Schenectady, New York last Friday, President Obama asserted that “America is still home to the most creative and most innovative businesses in the world.” The President drew on themes expected in tomorrow’s State of the Union address of innovation and enterprise, expanding markets and job creation, as well as policies aimed at driving America’s economy and fueling our nation’s competitiveness. President Obama spoke about the challenges America faces to lift our country from the ditch, and the efforts of his administration to accelerate that climb. [A]s we continue to fight our way back from the worst recession in our lifetimes, is to harness this spirit, to harness this potential, the potential that all of you represent. Our challenge is to do everything we can to make it easier for folks to bring products to market and to start and expand new businesses, and to grow and hire new workers. And that’s why, as part of the tax cut compromise that I signed at the end of the year, we provided incentives for businesses to make new capital investments — and in fact GE is investing $13 million in advanced manufacturing at this plant, taking advantage of some of these tax breaks. We also extended a program that GE says its customers have used to invest $6 billion in clean energy production across this country — driving demand for the company’s wind turbines. And I saw one of those big turbines on the way in. So we know we can compete. Not just in the industries of the past, but also in the industries of the future.

The President also talked about the need to increase American exports and the positive effect it has on job growth: And that’s also why I fought hard to negotiate a new trade deal with South Korea that will support more than 70,000 American jobs. That’s why I traveled to India a few months ago — and Jeff was there with us — where our businesses were able to reach agreement to export $10 billion in goods and services to India. And that’s going to lead to another 50,000 jobs here in the United States.

The speech continued: So it’s a perfect example of why promoting exports is so important. That’s why I’ve set a goal of doubling American exports within five years. And we’re on track to do it. We’re already up 18 percent and we’re just going to keep on going, because we’re going to sell more and more stuff all around the world. When a company sells products overseas, it leads to hiring on our shores. The deal in Samalkot means jobs in Schenectady. That’s how we accelerate growth. That’s how we create opportunities for our people. This is how we go from an economy that was powered by what we borrow and what we consume — that’s what happened over the last 10 years. What was driving our economy was we were spending a lot on credit cards. Everybody was borrowing a lot. The Chinese were selling a lot to us. Folks were selling a lot to us from all over the world. We’ve got to reverse that. We want an economy that’s fueled by what we invent and what we build. We’re going back to Thomas Edison’s principles. We’re going to build stuff and invent stuff.

Check out the White House’s website dedicated to the State of the Union address. Starting Tuesday and throughout the week, there will be panels, Q&A’s with experts and top administration officials, and the first-ever YouTube interview on Thursday with President Obama. Don’t miss out!

Watch the President’s full speech in Schenectady.

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By Randal Edgar

Some timely help from two employees at a gym in Seekonk helped the police in East Providence arrest two women Saturday in a theft at the gym.

The women, aged 19 and 20, went to Planet Fitness on Taunton Avenue. When they left the gym around 1 p.m., two Planet Fitness employees were watching, and they called the police after the women entered the Stop & Shop supermarket at Taunton and Pawtucket avenues, in East Providence.

Officers arrived and asked the women what they had purchased when they came out of the store, said Lt. William Nebus.

One of the women said she was buying a gift card for a wedding shower and gave officers a false name, Nebus said. The other said she was purchasing a gift card and did not provide details, he said.

Inside the blue Nissan the women had traveled in, officers found “three to four pocketbooks with various forms of IDs” — items for which the women had no explanation, Nebus said. Officers also found three gift cards with receipts for more than $600.The gift cards had been purchased with credit cards stolen from Planet Fitness, he said.

Robyn L. Loman, 20, of Glen Burnie, Maryland, was arrested and charged with receiving stolen goods, fraudulent use of a credit card, conspiracy and obstruction, having initially given officers a false name, Nebus said. Xiomara J. Fowler, 19, of Pasadena, Maryland, was arrested and charged with receiving stolen goods, fraudulent use of a credit card, conspiracy and also with being a fugitive from justice for a charge in Maryland, Nebus said. Both were still in police custody as of Sunday afternoon.

Nebus said Fowler had about 12 gift cards in her handbag and also had $400 cash and a cell phone in her bra. It was not clear as of Sunday afternoon if the cell phone was stolen, he said.

Officers also found other items in the car that had been purchased at convenience stores in several states, including Connecticut and New York, he said.

Nebus said that, based on a statement by Loman, it appears that the women started out in Maryland and headed into New Jersey. He said police believe the women would go into gyms and steal purses and wallets with credit cards and use the credit cards to buy gift cards. They would then dump the stolen items and move on, spending some of their gift card money along the way.

He credited the employees at Planet Fitness for paying attention and quickly calling the police.

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NEW YORK–(BUSINESS WIRE)–Two years of massive overhaul of the payments industry came to a head on July 21, 2010 with the passage of the Wall Street Reform and Consumer Protection Act, popularly known as Dodd-Frank. As with the CARD Act of 2009 which preceded it, media attention focused primarily on credit cards, where issuers are now in the throes of implementation and retrenchment. Meanwhile, debit card sales volume now outstrips credit cards and the gap is widening, even as issuers wait nerv

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New York, NY, United States (AHN) – The U.S. government has granted $434 million to the Philippines for investments in roads, community development projects and improvements in the country’s tax collection efforts under a five-year economic compact that aims to fight poverty.

U.S. Secretary of State Hillary Rodham Clinton and Philippine President Benigno Aquino III presided at the grant signing held at the Waldorf Astoria Hotel in New York City.

The grant was signed by Millennium Challenge Corp. (MCC) CEO Daniel Yohannes and Philippine Finance Secretary Cesar Purisima.

“This compact we were signing was created by and for the people of Philippines. Reflecting the policies articulated by President Obama at Millennium Development Goals Summit, this is a results-focused program promoting sustainable economic growth. This example of country-designed solutions strives to move the poor from poverty to prosperity,” Yohannes said in a statement.

The MCC agreement provides $214.4 million to construct and repair about 140 miles (220 kilometers) of a highway that traverses 15 municipalities to improve access to markets and services for farmers, fishers, and small businesses in some of the poorest provinces in the country.

Another $120 million is allocated to expand Kalahi-CIDSS, a development project that empowers communities by encouraging their participation in poverty-reducing activities. It will provide community grants to support building of critical infrastructure such as water systems, clinics, and schools.

The project allows poor communities to design and manage projects they need to increase their incomes and improve their lives.

A $54.3 million fund seeks to computerize and streamline business processes to bolster the effectiveness of tax collection and reduce opportunities for corruption.

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The New York Giants official team logo is now being proudly displayed on the NFL Extra Points™ Platinum Plus® Visa® Credit Card from Bank of America.  (www.giantscreditcard.com).   This rewards credit card has proven to be a touchdown with fans across the country and has made huge strides in the rewards credit card industry.  Like many retailers, universities and airlines have done for decades, NFL football teams, in association with Bank of America, now offer credit card consumers valuable rewards above and beyond the cool factor of having their favorite team printed on their credit cards.  These football-oriented credit cards are scoring big with sports fans in every state.

The NFL Extra Points™ Platinum Plus® Visa®™ Credit Card from Bank of America has important features, which include:

•           No Annual Fee.

•           0% Introductory Annual Percentage Rate (APR) on balance transfers and cash advance checks for your first 12 billing cycles.

•           A $50 NFLshop.com gift card after your first qualifying transaction(s) using your NFL Extra Points™ Visa® Credit Card.

•           100% fraud protection

•           Earn 1 Point for every dollar you spend in net retail purchases. Points are redeemable for NFL merchandise, tickets, and VIP passes to NFL experiences.

•           Online account access and Points management.

At a time when consumers are nervous about the uncertainty in the stock market, illiquidity in the credit market and the softening real estate market, one thing remains constant – sports fans love NFL football.  Historically, football has given its fans something to believe in and something to hope for, particularly during difficult economic times.   With the NFL Extra Points™ Platinum Plus® Visa®™ credit card, New York Giants fans can be reminded of their favorite team every time they open their wallets.  Real fans carry the card with pride.  Visit www.giantscreditcard.com to complete the credit card application online in just a few short minutes.

http://www.articlesbase.com/football-articles/new-york-giants-credit-card-nfl-extra-points-platinum-plus-visa-618439.html

The New York Jets official team logo is now being proudly displayed on the NFL Extra Points™ Platinum Plus® Visa® Credit Card from Bank of America.  (www.jetscreditcard.com).   This rewards credit card has proven to be a touchdown with fans across the country and has made huge strides in the rewards credit card industry.  Like many retailers, universities and airlines have done for decades, NFL football teams, in association with Bank of America, now offer credit card consumers valuable rewards above and beyond the cool factor of having their favorite team printed on their credit cards.  These football-oriented credit cards are scoring big with sports fans in every state.

The NFL Extra Points™ Platinum Plus® Visa®™ Credit Card from Bank of America has important features, which include:

•           No Annual Fee.

•           0% Introductory Annual Percentage Rate (APR) on balance transfers and cash advance checks for your first 12 billing cycles.

•           A $50 NFLshop.com gift card after your first qualifying transaction(s) using your NFL Extra Points™ Visa® Credit Card.

•           100% fraud protection

•           Earn 1 Point for every dollar you spend in net retail purchases. Points are redeemable for NFL merchandise, tickets, and VIP passes to NFL experiences.

•           Online account access and Points management.

At a time when consumers are nervous about the uncertainty in the stock market, illiquidity in the credit market and the softening real estate market, one thing remains constant – sports fans love NFL football.  Historically, football has given its fans something to believe in and something to hope for, particularly during difficult economic times.   With the NFL Extra Points™ Platinum Plus® Visa®™ credit card, New York Jets fans can be reminded of their favorite team every time they open their wallets.  Real fans carry the card with pride.  Visit www.jetscreditcard.com to complete the credit card application online in just a few short minutes.

http://www.articlesbase.com/football-articles/new-york-jets-credit-card-nfl-extra-points-platinum-plus-visa-618442.html

The New York Mets® team logo can now be featured on the Major League Baseball™ Extra Bases™ Credit Card issued by Bank of America.  (www.metscreditcard.com ).   This rewards credit card is scoring big with avid baseball fans and credit card consumers across the country.  Like many department stores, colleges and airlines have done for decades, Major League Baseball™ teams are now being displayed on consumer credit cards.  These sports oriented rewards credit cards — a great way for fans to express their undying team loyalty –  are proving to be a home run in the credit card industry.

Features offered by the Major League Baseball™ Extra Bases™ Credit Card from Bank of America include:

•           No annual fee.

•           0% introductory Annual Percentage Rate (APR) on balance transfers and cash advance checks for your first 12 billing cycles.

•           Earn 1 point for every net retail dollar spent redeemable for MLB™ autographed memorabilia, once-in-a-lifetime MLB™ experiences, cash rewards and travel with no blackout dates.

•           Get an official MLB™ licensed jersey after your first qualifying transaction(s) using your MLB™ Extra Bases™ credit card.

During a period of economic instability, uncertainty in the stock market, illiquidity in the credit markets and the softening real estate market, one thing remains constant – sports fans are crazy about Major League Baseball.  Historically, baseball has given the public something to believe in and something to hope for, particularly during difficult economic times.   With the MLB™ Extra Bases™ credit card, Mets fans can be reminded of their favorite team every time they take out their wallets.  Real fans carry the card with pride.  Visit www.metscreditcard.com  to complete the credit card application online in a few short minutes.

http://www.articlesbase.com/baseball-articles/new-york-mets-credit-card-major-league-baseball-extra-bases-mastercard-626540.html