Latest News on Credit Market and Elections

The US economy slowdown and credit crisis have had American consumers by the leg. Everyone tries to deal with this difficult situation in their own way. Some people do their best to pay off credit card outstanding balances as soon as possible, so they do not accumulate additional interest. Some consumers try to reduce their plastics use frequency. Others just give up paying with credit cards.

According to the results of the recent survey, about 10% of American credit consumers have been spotted taking out cash advances on their plastics more often than in the past. High balances, as the survey showed, have become a heavy burden for cardholders. Who can save the situation? Americans anchor their hopes on the future President. Who they find the best candidate to fix the US economy?

Here is some fresh statistics on consumers' credit debts and current financial standing. The above-mentioned research on American credit consumer management styles and problems was conducted for Standard & Poor's. It revealed that every fifth individual questioned said that he/she is sometimes - 14%, or always - 6% unable to pay off their monthly loan and/or credit card balances. About 18% are financially stable enough to make minimum payments each month. And only 8% can afford paying more than required minimum. Late credit card payments have turned into a bad habit for some consumers.

On the average, about 22% of US credit consumers have between $5,000 and $20,000 in debt on their plastics. 3%, meanwhile, fight credit card debt that is over $40,000. When it comes to choosing what bills to pay first - mortgage or credit card ones, the majority of respondents (35%) sets mortgage bills prior to credit card bills. 26% of the surveyed pay their bank cards bills first.

The country's economy is lying low, waiting for batman the dark night to come and save it. But who is going to play the part of batman for the next 4 years for America? And who will raise the economic sector from its knees? Barack Obama or John McCain? Let's find out who Americans see their savior in.

According to a recent online opinion poll, over 50% of Americans strongly believe that Barack Obama is the one to set better new credit card rules, reduce maintenance fees that banks charge. Better credit card deals, wider choice, fairer policies, new credit cards, low rates and financial stability are what US consumers expect Mr. Obama to offer in banking and financial sector.

For 38% of American citizens John McCain remains to be a knight in shining armor that will recover the country's economy. The poll also revealed that 7% find Ralf Nader to be the one who will help slash credit costs. Bob Barr was supported by 2.5% o the respondents. 0.5% of the votes were cast for Chuck Baldwin, and 0.6% - for Cynthia McKinney.

The elections are getting closer and closer. We will wait and see. The waiting days are numbered.