One-Third of Americans Have Never Checked Their Credit Score

A new study from TransUnion reveals that a staggering 32.7% of Americans have never checked their credit scores or credit reports. An additional 24.6% of those surveyed said they had not checked their credit score or credit report within the … Continue reading

LowCards.com Weekly Credit Card Update–October 4, 2013

CFPB Targets Banks' Campus Deals The Consumer Financial Protection Bureau is concerned that deals between banks and colleges steer students toward checking accounts and debit cards that come with high fees or other costs. Schools and the banks say any fees and other … Continue reading

CFPB Warns Companies to Investigate Credit Report Errors

The Consumer Financial Protection Bureau is cracking down on companies that supply information to consumer reporting companies. This should make it easier for consumers to get reporting errors resolved. The CFPB issued a notice today that says these companies--called "furnishers"--are responsible for investigating … Continue reading

What Is the Best Credit Card for Me?

A couple decades ago, there were only a few credit cards offered in the United States. Now, there are over 1,000 on the market. Issuers like Citi, Chase, Discover, Capital One, Barclay, Bank of America and American Express have saturated … Continue reading

The CFPB’s Accomplishments in its First Two Years

The Consumer Financial Protection Bureau is celebrating its two-year anniversary with much calmer waters ahead. The CFPB has been the center of political firestorms ever since it was originally formed. Republicans first opposed Elizabeth Warren as the head of the … Continue reading

What Credit Cards Do I Qualify For?

Looking for a credit card but don't know where to start? Perhaps you should focus on your credit score. This score is going to put you into a bracket of applicants, and it will determine which cards are accessible for … Continue reading

How Do Credit Cards Help Build Credit?

Most people associate credit cards with debt, forgetting that they have the word "credit" in their name. Believe it or not, you can build credit by using credit cards if you use them properly. The reason most cardholders fall into … Continue reading

What Is a Credit Freeze?

A credit freeze is a hold put on a person's credit that prevents banks from pulling their credit reports. This is viewed as the ultimate form of credit protection, and it ensures that no one will see your credit for … Continue reading

Women Better at Handling Credit

Women may earn less than men but they are better managers of credit. According to a new report from Experian, women earn 23 percent less than men, but men have 4.3 percent more debt than women. Women also have a slightly … Continue reading

LowCards.com Weekly Credit Card Update–May 17, 2013

The Long Shadow of Bad Credit in Job Search Over the last several decades, credit reporting bureaus have been selling their services to a much wider range of buyers than just banks.  Nearly half of employers use credit checks when … Continue reading

How to Improve Your Credit Score Fast

Many people experienced a decline in their credit scores after the economy crashed in 2008. The loss of a job or skyrocketing expenses can easily send your credit score from the 700s into the 600s. Credit scores can go down … Continue reading

Hackers Steal Personal Data of Celebrities, Politicians

Credit reporting agencies TransUnion and Equifax have confirmed that hackers have gained unauthorized access to users' personal information, including some of the leading political and entertainment figures in America. The hackers obtained the Social Security numbers, credit scores and birthdates … Continue reading

Who Has Access to Your Credit Report?

Since credit reports contain sensitive personal information, access to them is limited. The three main credit report bureaus--TransUnion, Equifax and Experian--can only provide your credit reports to people you seek to do business with. But the number of different people … Continue reading

Time for a Personal Finance Checkup?

Did you make a New Year's Resolution to get your financial house in order in 2013? A good place to start is by doing a personal checkup of your credit. And there are free options out there. Don't fall for … Continue reading

LowCards.com Weekly Credit Card Update–February 8, 2013

California Supreme Court Makes it Easier for Apple, Online Businesses to Collect Personal Data A divided California Supreme Court ruled that online merchants such as Apple and Ticketmaster can require consumers to furnish personal information to make credit card purchases. … Continue reading

Credit Cards Compete by Forgiving Late Fees

Credit card companies are fighting hard for the best customers and now they are competing in a somewhat unusual way: not charging late fees. A handful of cards are differentiating themselves from other issuers by foregoing the collection of a … Continue reading

Climbing Out of Debt in 2013

Credit card bills will soon arrive and show how much households spent during the holidays. Chances are good that many consumers added a few hundred dollars of debt to their credit card accounts which already averaged nearly $5,000 per cardholder. … Continue reading

LowCards.com Weekly Credit Card Update December 21

Consumer Group Warns of Card Surcharges Credit cardholders must be on the watch for new check-out fees that merchants will be able to impose starting in January under a class-action settlement with Visa and MasterCard. But merchant trade groups say … Continue reading

Senate Committee Investigates Credit Report Practices

Today, the Senate Banking Committee will hold a hearing to investigate the accuracy and regulation of credit reports. The hearing is called "Making Sense of Consumer Credit Reports" and credit analysts from the Consumer Financial Protection Bureau and consumer data … Continue reading

Five Tips For Managing Credit Card Debt In 2013

A new year is just around the corner. Undoubtedly, millions of people will be making resolutions to lower their credit card debt in 2013. Here are five tips to help lower and manage your credit card debt in the New Year: Know Your … Continue reading

Credit Card Data Makes Up Majority of Your Credit Report

A study released today by the Consumer Financial Protection Bureau shows that credit reports are dominated by a consumer's credit card history. The report also showed that debt collection items generate the highest rate of disputes. The CFPB analyzed 2011 information … Continue reading

Credit Reporting Agencies Uncover Your Very Personal Information

Credit reporting agencies know much more about you than your number of credit cards or how much you owe on your mortgage. You may be surprised at the personal information collected by credit agencies and how many agencies are tracking … Continue reading

Five Credit Card Tips For Teenagers

As our children grow, they are exposed to many different learning experiences. However, many children are never taught anything about financial literacy or the use of a credit card. Teachers rarely talk about credit cards or credit card debt, so it is critical for parents … Continue reading

CFPB Finds Differences in Credit Scores

The credit score you purchase from a credit reporting agency may be very different from the score your lender sees. Lender's scoring models place  nearly one in five consumers in different credit categories, according to a new report by the Consumer … Continue reading

Consumers Benefit by CFPB Monitoring Credit Bureaus

The Consumer Financial Protection Bureau may soon make another move that could help consumers: bringing transparency and public accountability to credit reporting agencies. Beginning September 30th, the CFPB will monitor over 30 of the country's biggest credit bureaus and investigate … Continue reading