The IRS estimates that lenders will send some 6.4 million 1099-C tax forms to Americans in 2012, and these documents are sent to those who had debt forgiven or canceled at some point in the past, according to a report from USA Today. In some cases the charged off debt being taxed can be as much as a few decades old, but the increased total for this year - up from 3.9 million in 2010 - is likely due to debt charged off during the recession, as federal regulations encourage lenders to submit 1099-Cs for debts that haven't been pursued in 36 months.

In an effort to capitalize on what's expected to become a very lucrative industry in the near future, a large number of businesses are working to develop smartphone applications that will work with various mobile credit card payment systems, according to a report from the San Francisco Chronicle.

Consumer demand for new lines of credit is on the rise, as evidenced by the three consecutive quarters of increased inquiries, according to data from the Federal Reserve Bank of New York’s most recent Quarterly Report on Household Debt and Credit. In the six months prior to the end of last year, the number of inquiries for credit accounts nationwide ticked up 2.7 percent over the total seen in the six-month period at the end of the third quarter.

The new Hyatt card, released by Chase Card Services, will grant consumers who frequently travel abroad far more flexibility in making purchases thanks to the embedded technology. This card will be the first U.S.-issued EMV hotel rewards credit card, and provides users with a number of benefits. Apart from carrying no foreign transaction fees, it will also grant consumers three Hyatt Gold Passport points for every dollar they spend.