Where Did Credit Scores Come From?

Credit Score

Where Did Credit Scores Come From?

Where Did Credit Scores Come From?

If you’ve ever applied for a credit card or loan, you’re probably aware that your credit score was used in the application review process. But that wasn’t always the case. Lenders started using credit scores for consumer loan products in the 1980s, but the roots of credit scoring came decades earlier. In 1941, the National… Read More

The Middlemen That Can Drive Up the Cost of Your Loan

Personal Finance

The Middlemen That Can Drive Up the Cost of Your Loan

The Middlemen That Can Drive Up the Cost of Your Loan

As if alternative financing isn’t expensive enough, an illuminating article in Bloomberg Businessweek calls attention to the increasing use of intermediaries—brokers, in this instance—by small business and consumer borrowers seeking help finding a good deal on a loan. There are two main types of financial market intermediaries: consultants and brokers. They couldn’t be more different… Read More

Even God Has Credit Problems

Credit Score

Even God Has Credit Problems

Even God Has Credit Problems

God lives in Brooklyn. No, really. God Gazarov, New York resident, has been in the news lately because of a lawsuit over his credit history. Gazarov says credit reporting agency Equifax doesn’t accept his first name as legitimate, and, as a result, it falsely reports that he has no credit history. He said that snag… Read More

Can You Negotiate With Your Credit Card Company?

Credit Cards

Can You Negotiate With Your Credit Card Company?

Can You Negotiate With Your Credit Card Company?

So you’re wondering if you can negotiate with your credit card company? The short answer: it depends. Credit card companies may negotiate on some things — credit line increases, due dates and even minimum payments. But other things — like special offer terms — aren’t really negotiable. The key is understanding what you can negotiate… Read More

Should You Tell a Co-Worker What You Make?

Personal Finance

Should You Tell a Co-Worker What You Make?

Should You Tell a Co-Worker What You Make?

One of the more commonly touted tactics to combat wage inequality is to advise people to openly discuss their salaries with co-workers and perhaps even friends. Last week President Barack Obama signed an executive order banning federal contractors from retaliating against employees who discuss salaries at work. In an article discussing the move, Fortune magazine suggested that… Read More

How Debt Can Actually Lower Your Taxes

Personal Finance

How Debt Can Actually Lower Your Taxes

How Debt Can Actually Lower Your Taxes

Debt is not necessarily the most terrible thing ever. Sometimes, debt is a good thing — it can help you fund college, build credit and can even help you save money on your taxes. Taking on debt can be beneficial in many ways — student loans are an investment in your future, for example —… Read More

Will the Internet Ever Be ‘Safe’?

Identity Theft

Will the Internet Ever Be ‘Safe’?

Will the Internet Ever Be ‘Safe’?

This one really hurts. In the past few months, consumers have been deluged with one reason after another to fear technology and transactions. Target. Neiman Marcus. Michaels. Millions of stolen credit cards. Millions of passwords leaked and lost by Adobe. Net users are used to, and perhaps growing numb to, the constant bad news. But… Read More

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