Help! My Dad’s Credit Card Is Hurting My Credit Score

Credit Cards

Help! My Dad’s Credit Card Is Hurting My Credit Score

Help! My Dad’s Credit Card Is Hurting My Credit Score

Sam is a busy New Yorker who’s savvy about his credit. A recent college graduate working his first job in the city, he got his first credit card last year, and he uses it wisely. He charges only $100 or $200 a month, enough to buy groceries and build up a credit history, but it’s… Read More

You Could End Up Paying for Swipe-Fee Settlement

Credit Cards

You Could End Up Paying for Swipe-Fee Settlement

You Could End Up Paying for Swipe-Fee Settlement

Late last week, the world’s two largest processors of credit and debit card payments reached an agreement with retail groups suing them over some of their practices, which may lead to surcharges for consumers paying with credit. The settlement, which will see Visa, MasterCard and a few other major financial institution pay a combined $7.25… Read More

FICO and CoreLogic Debut New Mortgage-centric Credit Score

Credit Score

FICO and CoreLogic Debut New Mortgage-centric Credit Score

FICO and CoreLogic Debut New Mortgage-centric Credit Score

FICO and Core Logic unveiled a new score designed to help lenders better determine who should be awarded a mortgage. The score could help consumers, who would have otherwise had difficulty getting a home loan, secure financing since it incorporates new data with non-traditional trade lines. The data — furnished by CoreLogic, which unveiled an… Read More

Consumer Watchdog Plans to Regulate Credit Bureaus Next

Credit Score

Consumer Watchdog Plans to Regulate Credit Bureaus Next

Consumer Watchdog Plans to Regulate Credit Bureaus Next

The Consumer Financial Protection Bureau head announced Monday plans to begin regulation of credit reporting agencies. In a field hearing in Detroit, CFPB Director Richard Cordray said the impact a credit report can have on so many aspects of consumers’ lives is why the bureau is turning its attention to the private credit reporting industry…. Read More

Over 50 and Deep in Student Loan Debt

Students

Over 50 and Deep in Student Loan Debt

Over 50 and Deep in Student Loan Debt

While the common view of those who carry significant amounts of student loan debt as young adults who are just starting to become financially independent is still accurate, a growing number of people with student loan debt — and in default — are much closer to retirement. New data from Barclays shows that about 15.5… Read More

Experian: Credit Gap Continues to Widen

Credit Score

Experian: Credit Gap Continues to Widen

Experian: Credit Gap Continues to Widen

The credit gap continues to widen, and it’s showing up in Americans’ credit card limits. According to the latest Experian-Oliver Wyman Market Intelligence reports, a quarterly analysis of consumer credit trends, only people with top credit scores have watched their credit limits fully recover from the Great Recession. Everyone else, including people with perfectly good scores,… Read More

How Long Will a Bankruptcy Stay on Your Credit Report?

Credit Score

How Long Will a Bankruptcy Stay on Your Credit Report?

How Long Will a Bankruptcy Stay on Your Credit Report?

Mike from Buffalo lost his job and experienced financial difficulties in 2003 that resulted in his filing for bankruptcy.  Since that time, he has carefully managed his finances and has had steady employment for the last three years.  He is looking to purchase a home, but feels he is not being presented with the lowest… Read More

Lending Thaw Ahead for Subprime Borrowers?

Personal Finance

Lending Thaw Ahead for Subprime Borrowers?

Lending Thaw Ahead for Subprime Borrowers?

Consumers with low credit scores might have better chances of getting a loan soon thanks to the broadening of lending efforts by the nation’s largest institutions. Many industry experts now expect that lending to subprime borrowers for auto loans and credit cards will expand significantly for at least the remainder of the year, according to… Read More

How to Shop for the Best Low-Rate Credit Card

Credit Cards

How to Shop for the Best Low-Rate Credit Card

How to Shop for the Best Low-Rate Credit Card

These days, you might be receiving numerous offers for credit cards promising low interest rates, but are you being offered the lowest possible rates? How can you know? For starters, a low rate credit card for one person might not be so for another, and the best way for consumers to guarantee that they have… Read More

The 411 on Getting a Personal Loan

Personal Loans

The 411 on Getting a Personal Loan

The 411 on Getting a Personal Loan

These days, many consumers are looking for personal loans that can help them finance any number of things in their lives, but there are some things that they should keep in mind with this kind of financing. When consumers shop for a personal loan, they shouldn’t just look at the interest rate, but also all… Read More

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