Credit Score Obsessed? Don’t Be.

Credit Score

Credit Score Obsessed? Don’t Be.

Credit Score Obsessed? Don’t Be.

It may sound strange coming from the president and CEO of a credit scoring company, but when I meet someone obsessing over his or her credit score, I always tell them the same thing: don’t worry so much about being up 10 points or down 20. Instead, focus on the direction your score is moving… Read More

1099-C Wrong? Taxpayer May Pay With An Audit

Personal Finance

1099-C Wrong? Taxpayer May Pay With An Audit

1099-C Wrong? Taxpayer May Pay With An Audit

Taxpayers who get a 1099-C listing cancellation of debt income have enough to worry about. Their main concern: “Do I have to pay taxes on the reported amount?” They shouldn’t have to worry that a lender’s sloppy practices could also be setting them up for an audit. But that’s precisely what may happen when lenders… Read More

Review: The American Express Prepaid Card

Credit Cards

Review: The American Express Prepaid Card

Review: The American Express Prepaid Card

The American Express Prepaid Card card launched last summer to much fanfare. And on the surface it looks pretty good, especially for young professionals without access to traditional credit. But you know how I love to dig deep below the surface, so let’s take a close look at this prepaid card and see what’s there…. Read More

It’s Faint, But Recovery Has A Pulse, Feds Say

Personal Finance

It’s Faint, But Recovery Has A Pulse, Feds Say

It’s Faint, But Recovery Has A Pulse, Feds Say

The American economy continues to grow at a modest pace, helped by a slight uptick in consumer credit and sales of big-ticket items like houses and cars, according to the Federal Reserve’s latest Beige Book report. [Free Credit Calculator: Use Credit.com’s Credit Report Card] The report, an informal gathering of economic data from the Fed’s… Read More

Despite CARD Act Doomsday Predictions, Credit Card Profits Jump

Credit Cards

Despite CARD Act Doomsday Predictions, Credit Card Profits Jump

Despite CARD Act Doomsday Predictions, Credit Card Profits Jump

When the CARD Act was getting passed, the banks moaned over how having to deal with tighter consumer protection laws was going to kill their business.  It turns out that those fears might have been a tad overblown. A new report from Nilson shows that since the legislation was enacted, profits at most of the… Read More

Don’t Waste Money On Avoidable Overdraft Fees

Personal Finance

Don’t Waste Money On Avoidable Overdraft Fees

Don’t Waste Money On Avoidable Overdraft Fees

Last week, the Consumer Financial Protection Bureau (CFPB) launched an investigation into the overdraft fees charged by banks and other financial institutions on checking accounts. But who says government regulators get to have all the fun? Savvy consumers should launch their own overdraft fee investigation — and make sure they aren’t paying any. Overdraft fees… Read More

5 Consumer Groups That Have Your Back

Personal Finance

5 Consumer Groups That Have Your Back

5 Consumer Groups That Have Your Back

If you’ve ever been scammed or battled a corporate giant over a policy you think is unfair, you know how easy it is to feel trapped or powerless to change things. It’s hard when it’s just you against them. But when consumers band together, it is possible to shut down scammers or to pass laws… Read More

The Biggest Consumer Complaints of the Year

Personal Finance

The Biggest Consumer Complaints of the Year

The Biggest Consumer Complaints of the Year

Identity theft continues to be a major concern for American consumers, accounting for more complaints in 2011 than any other type of fraud or scam, according to a report released Tuesday by the Federal Trade Commission. It was the twelfth straight year that identity theft topped the list of consumer complaints. The number of ID… Read More

10 Ways to Protect Your Credit (and Your Money)

Credit Cards

10 Ways to Protect Your Credit (and Your Money)

10 Ways to Protect Your Credit (and Your Money)

When it comes to credit cards, you can be your own consumer advocate… or your own worst enemy. And these days, this lesson couldn’t be more important. According to TransUnion, one of the major credit bureaus, the number of new credit accounts grew by 14 percent in 2011, including subprime credit. While I’m glad that… Read More

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