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CreditCards.Com: House of cards

January 27, 2009

AFFIL appeared in this news article by Tyler Metzger on Jan 27, 2009

…About a year ago, several third-party companies cropped up offering consumers the ability to charge their mortgage payments. They marketed themselves as giving customers a chance to build more rewards points, and by offering a temporary escape route for those who found their funds depleted one month.

But these startups have all but disappeared as the weak economy and tighter credit standards had consumers asking how long a house on cards can stand…

“It’s not surprising that these types of services are struggling,” says Jim Campen, executive director for the consumer awareness group Americans for Fairness in Lending. “Either no one signed up for it, or no one is making the payments due to cutbacks and the current economic condition.”

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