Americans Unhappy with Credit Scores but Aim to Improve Them

Chase Bank's recent Chase Slate 2016 Credit Outlook found that 32% of Americans are unhappy about their credit score, and 28% believe their score will prevent them from reaching their goals. Other key findings include: Many are resolved to improve Most respondents … Continue reading

Your Social Media Posts May Soon Affect Your Credit Score

There's a new reason to be careful when updating your Facebook status. As reported on, talking about a weekend of debauchery might lower your credit score. The Fair Isaac Corporation (or FICO), a credit rating agency, is implementing new … Continue reading

Credit Card Debt Approaches Pre-Recession High

It has been several years since the United States went into a recession, but it appears Americans are slipping back into their old ways. According to new research, the average household credit card balance in America will reach $7,813 by the … Continue reading Weekly Credit Card Update–September 4, 2015

Credit Card Fraudsters Pump Gas Stations for Profit As motorists head out on the last big driving weekend of the summer, the credit card industry and gas-station owners are deploying everything from sophisticated software to heavy-duty padlocks to combat an … Continue reading

Capital One Platinum vs. Secured

If you have had problems with your credit, then you need a tool to help you rebuild it, and one of the most important tools available is a credit card. Of course, it can be very difficult to be approved … Continue reading

Millennials Have Lower Credit Scores than Other Generations

Millennials have the lowest average credit scores of all generations, according to a new study from Experian. The group of 18 to 34-year-olds had an average score of 625, while Generation X (35-49) have an average score of 650 and … Continue reading Weekly Credit Card Update–June 26, 2015

Who's Addicted to Mobile Banking Are consumers addicted to mobile banking? Well, if pulling out a mobile phone to check a bank account balance during dinner--and even on a date--qualifies as addictive, then the answer is yes. A Chase-commissioned survey … Continue reading

Consumers Still Confused about their Credit Scores

The vast majority of Americans (90%) recognize the importance of having access to credit. But a significant percentage (52%) of adults do not understand the most influential factors that go into a credit score, and almost 40% do not know their … Continue reading

FICO Plans Credit Scores for People without Credit History

Millions of Americans living without a credit score may soon have a new way to gain a foothold in the financial world. Credit scoring agency FICO has announced plans to include cellphone bills, cable bills and utility bills, as well … Continue reading Weekly Credit Card Update–April 3, 2015

Creditless Can Benefit from New FICO Score People struggling with a bad credit score, or lack of one, could benefit from a program rolling out in the next few months aimed at making it easier to get a Visa or … Continue reading

Discover Expands Financial Literacy Program

In an effort to improve financial literacy in America, Discover founded the Pathway to Financial Success grant program three years ago to give schools some funds needed to teach students about money management. The company hopes to expand the reach … Continue reading

Millions of Consumers Confused by Free Credit Scores

More than 50 million Americans now have access to free credit scores, according to the Consumer Financial Protection Bureau. But many of these consumers have no clue how to interpret them or what to do with the scores once they see … Continue reading

Top 5 Balance Transfer Credit Cards for 2015

Balance transfer credit card offers have been flooding the market for some time, giving consumers with a good credit score the opportunity to save some money. Issuers are offering cards with a 0% APR for 15-18 months on the amount … Continue reading Weekly Credit Card Update–January 16, 2015

Obama Seeks Laws on Data Hacking, Student Privacy President Barack Obama wants Congress to pass legislation requiring companies to inform customers within 30 days if their data has been hacked, a move that follows high-profile breaches at retailers including Target, … Continue reading Weekly Credit Card Update–November 21, 2014

Shoppers Just Don't Care About Credit Card Hacks If Target and The Home Depot are still reeling from the collective breach of 96 million customers' credit and debit cards, it didn't show in either company's earnings reports this week. Target … Continue reading Weekly Credit Card Update–October 24, 2014

Staples Investigates Reports of Possible Credit Card Data Breach The world's biggest office-supply retailer is investigating reports of a possible data breach of Staples customers' credit cards after banks detected a pattern of unusual charges concentrating on a group of … Continue reading Weekly Credit Card Update–October 17, 2014

Kmart Says its Store Registers Were Hacked, Exposing Credit Cards For about a month, Kmart says, its stores' checkout registers were "compromised by malicious software that stole customer credit and debit card information." The company, owned by Sears, says it … Continue reading Weekly Credit Card Update–August 15, 2014

Debt Collectors, What are Their Legal Limits? Collectors call again and again in the middle of dinner. They call the wrong person. They threaten. They take advantage of the latest technology to embarrass people. Often, they violate the law. Debt … Continue reading

5 Tips For Credit Card Management In Your 20’s

Your 20’s are an important time in your life. It is usually when you are first given the burden of handling and managing your own money. For many, this can be liberating, but it also comes with its own set … Continue reading

Credit Card Payments May Take on New Role in Credit Scores

The country's three biggest credit bureaus may eventually change the way they calculate credit scores. The new system could be designed to give "transactors" better scores than "revolvers" for their credit card payments because those individuals have proven themselves to … Continue reading Weekly Credit Card Update–June 6, 2014

Debt Collectors Have Figured Out a Way to Seize Your Wages and SavingsPeople with overdue bills have long complained of harassment from debt collectors, from late-night phone calls to frightening in-person visits. Now it appears the industry has found far … Continue reading

5 Most Important Things To Consider When Picking A Credit Card

If you are interested in obtaining a new credit card, then you need to think about a few of the critical factors that should go into that decision. Applying for a new credit card should not be a decision made … Continue reading

Top 5 Airline Credit Cards of 2014

If you are a regular traveler, then you want to take advantage of the perks that come with having a top airline credit card. These cards give you an opportunity to receive some benefits on purchases you already make while … Continue reading

New Law Protects Children from Identity Theft

Wisconsin took a major step in curbing identity theft with a new law that protect children's identities. Known as the Wisconsin Child Credit Protection Act, this law is designed to make sure that a child's information cannot be used to … Continue reading Weekly Credit Card Update–April 25, 2014

Michaels Confirms Data Breach Affecting 2.6 Million Credit Cards Three months after craft retailer Michaels announced it may have been the victim of a data breach, the company confirms the worst: nearly 2.6 million consumers' credit cards are affected. In … Continue reading Weekly Credit Card Update–April 11, 2014

Heartbleed Threat Puts Passwords, Credit Cards, and Other Data at Risk Passwords, credit cards and other sensitive data are at risk after security researchers discovered a problem with an encryption technology used to securely transmit email, e-commerce transactions, social networking … Continue reading

CFPB Urges Card Companies to Provide Free Credit Scores

The Consumer Federal Protection Bureau is urging credit card issuers to provide free credit scores for their customers. Doing so would allow consumers across the country to better track the health of their credit. Some issuers, such as Discover, Barclay and … Continue reading Weekly Credit Card Update–February 7, 2014

Hotel Company Investigates Data Breach, Card Fraud White Lodging Services, a hospitality company that manages 168 hotels in 21 states--under franchises from Hilton, Marriott, Sheraton, and Westin—is investigating reports that it suffered a data breach that lasted from March 2013 … Continue reading

Millennials Cutting Back on Credit Cards, But Struggle with Credit Scores

Millennials are carrying far fewer credit cards with smaller balances than older consumers but are still struggling with their credit scores and debt utilization. Experian’s Fourth Annual State of Credit analyzed the credit card habits of four generations: Millennials (19-29), … Continue reading

Three Common Credit Myths on Joint Accounts

When couples get engaged, they make the decision to spend the rest of their lives together. They immediately face a number of decisions. Where will we live? When will we get married? Should we merge our finances? One of the … Continue reading Weekly Credit Card Update–January 3, 2014

Six Credit Card Trends to Watch in 2014 During and immediately after the financial crisis, credit card issuers tightened up lending standards and lowered credit limits to protect themselves. "They had given credit to too many people and approved people … Continue reading

Psychometric Test Brings Credit Scores to Undeveloped Countries

In America, a credit score assesses a person's ability to pay back a loan. We have numerous factors and databases that go into making this score, but other countries aren't as fortunate. As a result, a new test has emerged … Continue reading

Three Credit Card Issuers Now Offer Free Credit Scores

Three major credit card companies--Discover, First Bankcard and Barclaycard US--will now enable their cardholders to see their credit scores for free once a month. These consumers will see their FICO credit score, the most widely-used credit scoring formula. This will affect … Continue reading

Discover Providing Free Credit Scores to Cardholders

Discover announced today that cardholders will receive free FICO credit scores on their monthly credit card statements. Discover becomes the first credit card issuer to provide FICO a credit score free of charge to their customers on monthly statements. In addition, cardholders … Continue reading

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

Experian Improves Credit Educator Program

The Credit Educator program at Experian was originally developed to give people a chance to improve their credit scores through guided, professional assistance. The program has been around for some time, but has recently been upgraded to give customers more for … Continue reading

Credit Cards After Bankruptcy

Filing bankruptcy is a tough decision, and for most, it is the absolute last resort. Nevertheless, it is the only way that some people can escape bad financial decisions from the past. No matter what led you to file, you … Continue reading Weekly Credit Card Update–August 30, 2013

Facebook Friends Could Change Your Credit Score Choose your Facebook friends wisely; they could help you get approved--or rejected--for a loan. A handful of tech startups are using social data to determine the risk of lending to people who have … Continue reading Weekly Credit Card Update–August 16, 2013

Judge is Open to Repayment of Swipe Fees A federal judge threatened to further crimp a once-lucrative profit center for banks and credit card companies, saying they may need to reimburse retailers billions of dollars in debit card transaction fees … Continue reading

Perfect U.K. Credit Score Could Lead to Credit Card Rejection

We all strive for the excellent credit score, something into the high 700s that we feel will get us any loan that we want. According to new research though, having that perfect credit history in the United Kingdom may actually … 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 Weekly Credit Card Update–May 31, 2013

Why Business Credit Card Holders Should Be Wary A majority of small business owners know their personal and business finances are connected. If they apply for a small business loan, the bank will likely need their personal credit score. Miss … 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 Weekly Credit Card Update–May 10, 2013

Credit Card Companies Battle in China The Ms. Magic credit card from China Citic Bank is dotted with crystals and offers free beauty treatments and health insurance. Huaxia Bank's Pretty Lady card entices women with triple points for cosmetic purchases … Continue reading

Good Credit Leads to Cheaper Credit Cards

A recent report underscores that good credit may save consumers significant money on their credit cards. The average interest rate for people with good credit went down 1.69% from the fourth quarter 2012, but the rates for those with average … Continue reading

Changes Made in VantageScore Credit Scoring Model

The VantageScore credit scoring model has undergone some improvements, giving lenders a reported 25 percent improvement on the ability to make predictions on consumers. The new VantageScore 3.0 model also has the ability to formulate a score for the estimated … Continue reading Weekly Credit Card Update–February 15, 2013

N.J. Calls Off Credit Card Pitches to Students at Public Colleges Companies that issue credit cards can no longer market them to students at New Jersey public colleges under a law Gov. Christie signed Thursday. The new law prohibits public … Continue reading

Areas with Worst Credit Scores All Found in the South

TransUnion has released its ranking of metropolitan areas with the highest and lowest consumer credit score in the country. Two areas in northern California--San Jose-Sunnyvale-Santa Clara (700) and San Francisco-Oakland-Freemont (696)--have the highest scores. Memphis is the area with the lowest … Continue reading

10 Common Credit Card Mistakes (And How To Avoid Them)

We have all made financial mistakes at some point. When it comes to credit cards, there are a significant number of pitfalls that any consumer can make. To help you avoid these, we have compiled a list of the 10 most common credit … Continue reading