A Record Number of Americans Turn to Auto Loans

Auto Loans

A Record Number of Americans Turn to Auto Loans

A Record Number of Americans Turn to Auto Loans

A record number of consumers took out an auto loan or lease when car shopping in the second quarter of 2013. According to Experian Automotive’s analysis of second-quarter data, 84.5% of consumers used financing when getting a new car. That’s the highest that share has been since Experian started tracking the statistic in 2006. Last... Read More

Everything You Need to Know About Credit on a Post-It

Credit 101

Everything You Need to Know About Credit on a Post-It

Everything You Need to Know About Credit on a Post-It

Credit can be confusing. People looking for answers to even their most basic credit questions often face long explanations. So we thought we would make it easier, and wrote the five most important credit rules each of us should follow — on a Post-it note: Pay your bills on time. Don’t rack up too much... Read More

Why It Pays to Know Your Debt Collector

Managing Debt

Why It Pays to Know Your Debt Collector

Why It Pays to Know Your Debt Collector

If you have ever fallen behind on your bills, you know what it means to be hounded by debt collectors. The constant barrage of late notices and collector phone calls can blend together into one big collection blur. Depending on the length of the financial setback, your debt picture can stay fuzzy for many months,... Read More

Reverse Mortgage Changes: What You Need to Know

Mortgages

Reverse Mortgage Changes: What You Need to Know

Reverse Mortgage Changes: What You Need to Know

The U.S. Department of Housing and Urban Development (HUD) earlier this month announced changes to the reverse mortgage program, which allows homeowners 62 and older to pull equity from their homes without making payments. Once the changes go into effect Oct. 1, it may be more difficult to get a reverse mortgage, and homeowners will... Read More

Relax! Your Facebook Account Won’t Kill Your Credit

Credit Score

Relax! Your Facebook Account Won’t Kill Your Credit

Relax! Your Facebook Account Won’t Kill Your Credit

Despite all the recent warnings in the news media that your Facebook friends’ or Twitter followers’ financial problems might hurt your credit scores, you can relax. You don’t need to cut ties with your friends with bad credit just yet. If you take a closer look at the companies featured in stories about this phenomena, such... Read More

The National Default Rate: Are Borrowers Paying Up?

Personal Finance

The National Default Rate: Are Borrowers Paying Up?

The National Default Rate: Are Borrowers Paying Up?

Timely debt payments, particularly on credit cards and first mortgages, have helped rejuvenate consumer credit and create a year-over-year decline in the national default rate. The S&P/Experian Consumer Credit Default Indices released data Sept. 17 showing the national composite default rate at 1.34%, down from 1.35% in July and 1.5% in August 2012. Though the... Read More

5 Perks Hidden in Credit Card Fine Print

Credit Cards

5 Perks Hidden in Credit Card Fine Print

5 Perks Hidden in Credit Card Fine Print

Fine print has a nasty reputation among consumers, and most assume it requires a microscope to read. Many consumers find the details within the fine print surprising, and perhaps even objectionable. But it turns out that sometimes the fine print produces some pleasant surprises. Here are five fantastic and convenient features we found in the... Read More

7 Myths About Secured Credit Cards

Credit Cards

7 Myths About Secured Credit Cards

7 Myths About Secured Credit Cards

It’s hard to function in America today without some sort of credit card. They’re the safest way to shop online, and are often important – even necessary – to arrange for travel expenses like rental cars, hotels and plane tickets. For many, access to credit cards is as simple as responding to a solicitation in the mail,... Read More

Mortgage Market Up 10% From Last Year

Mortgages

Mortgage Market Up 10% From Last Year

Mortgage Market Up 10% From Last Year

The real estate market has gained momentum, with mortgage originations up 10% year-over-year in the second quarter of 2013, according to an analysis by Experian. The quarterly increase in home purchases is even more notable: They’re up 29% since the first quarter of 2013. Experian found that home purchases grew 20% year over year, despite... Read More

The U.S. Cities With the Highest Incomes

Personal Finance

The U.S. Cities With the Highest Incomes

The U.S. Cities With the Highest Incomes

The U.S. Census Bureau last week released the 2012 American Community Survey results, providing a wealth of data about the country’s towns, states, regions and the people who live there. Using the bureau’s American Fact Finder tool, we searched the median income data of the nation’s metropolitan and micropolitan statistical areas. Of the 2,120 areas... Read More

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