Reader: Inquiries Dropped My Score 104 Points

Credit Score

Reader: Inquiries Dropped My Score 104 Points

Reader: Inquiries Dropped My Score 104 Points

How much of a negative impact can hard credit inquiries have on your credit score? A reader wrote in, asking a common question, but the impact on his score was rather extreme.  We take a look at what could have caused such a huge drop: I have refinanced 3 times in the last 2 years,… Read More

Fed Working to Broaden Mortgage Lending Standards

Mortgages

Fed Working to Broaden Mortgage Lending Standards

Fed Working to Broaden Mortgage Lending Standards

Despite that credit conditions that have thawed some since the end of the recession, and broadening qualifications for many different loan types, mortgage lending remains extremely tight, according to a report from the Wall Street Journal. As a result, the Federal Reserve Board is mulling strategies for encouraging more lending. Already, the regulator has announced… Read More

Obama Turns Up the Heat on Student Loan Rate Increase

Students

Obama Turns Up the Heat on Student Loan Rate Increase

Obama Turns Up the Heat on Student Loan Rate Increase

There has been considerable discussion among federal lawmakers in the last several months about the way to best approach coming hikes to student loan interest rates, but little progress has been made. In the final few days before federal student loan interest rates are set to double from 3.4 percent to 6.8 percent, President Barack… Read More

Discover: Consumers Using More Credit

Credit Cards

Discover: Consumers Using More Credit

Discover: Consumers Using More Credit

One of the nation’s largest lenders and payment processors recently reported that the rate at which consumers swiped their credit cards to make purchases increased during the second fiscal quarter of this year. Between March and May, Discover Financial Services saw sales volume on its credit cards rise 5 percent to a total of $26.1… Read More

This Week in Credit News: Uncle Sam Gives Back

Personal Finance

This Week in Credit News: Uncle Sam Gives Back

This Week in Credit News: Uncle Sam Gives Back

This week brought some great news for borrowers, with several government agencies showing their most consumer-friendly sides and making strides to improve credit availability and transparency. Read on to find out the biggest credit news this week. CFPB Releases Consumer Complaints for Credit Cards As we mentioned in last week’s roundup, banks were not so… Read More

Citi Expanding Rewards Offerings This Year

Credit Cards

Citi Expanding Rewards Offerings This Year

Citi Expanding Rewards Offerings This Year

Consumers who have rewards credit cards issued by one of the nation’s top lenders will be able to enjoy more perks with the points they rack up this year. Consumers who have Citi ThankYou rewards cards will now be able to apply the points they rack up for tickets to concerts and other events through… Read More

The Most Awkward Money Moment? Getting Declined

Credit Cards

The Most Awkward Money Moment? Getting Declined

The Most Awkward Money Moment? Getting Declined

Millions of consumers have had embarrassing moments in the past that were related to their finances, but a new survey finds that credit cards are involved in the kind of experience that’s most embarrassing of all. When it comes to uncomfortable financial moments, consumers say that having their credit card rejected when they attempt to… Read More

How to Keep Your Wedding On Budget

Personal Finance

How to Keep Your Wedding On Budget

How to Keep Your Wedding On Budget

Wedding season is upon us, and couples across the nation are shelling out tons of cash to tie the knot. This may not come as a shock to many of you, but weddings are expensive. I didn’t realize all the intricacies or expenses involved until my fiancé and I started to plan our wedding for next… Read More

CFPB Releases Consumer Complaints for Credit Cards

Credit Cards

CFPB Releases Consumer Complaints for Credit Cards

CFPB Releases Consumer Complaints for Credit Cards

Since gaining full regulatory power over the financial industry last July, the federal agency tasked with protecting consumers from predatory or troubling lending practices has received thousands of complaints from consumers. The federal Consumer Financial Protection Bureau recently published the full details of the complaints it received from Americans since taking power on July 21,… Read More

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