Credit News
Credit and credit card newsThe Most Expensive Credit Cards
Ever wonder what the rich and famous carry in their respective purses and wallets? Clearly they can’t lug around bags of cash, so how do they make all those super expensive purchases? Well, like everything else in life, there’s another ... Read More »
Study Suggests Rude People Have the Best Credit Scores
Ever heard the expression, “nice guys finish last?” Well, the same principle could be true about your credit scores. A new study from researchers at LSU, Texas Tech, and Northern Illinois University discovered an interesting correlation between personality and credit ... Read More »
One in Five Believe the Ability to Speak English Determines Your Credit Score
File this under amazing, or perhaps inane. But a staggering 21.6 percent of those surveyed in a new Visa poll believe the ability to speak English can determine your credit score. The survey of credit score myths found a number ... Read More »
Credit Cards Are About to Get Really Popular
In case you somehow haven’t heard, large banks, most notably Bank of America, plan to start charging customers who use their debit cards to make everyday purchases. B of A plans to charge customers $5 per month starting next year ... Read More »
Credit Scores Average 667 in June
Credit scores fell three points from May to average 667 in June, according to Credit Karma, which provides free quasi-credit scores from credit bureau TransUnion. Interestingly, average consumer credit card debt decreased 15 percent to $6,470 and average mortgage debt ... Read More »
Just Two Tenths of One Percent Achieve Highest Possible Fico Score
A new study from credit analytics company SubscriberWise revealed that less than two tenths of one percent of the scorable population achieved the highest possible Fico score. So just who are these consumers with 850 Fico scores anyways? Well, the ... Read More »
Credit Report Errors Less Common Than Thought
Less than one percent of credit reports have an error, that when disputed, will raise a consumer’s credit score by 25 points or more, according to a new study that assessed the accuracy and quality of data collected by the ... Read More »
Bank of America to Implement Penalty Credit Card Rates
On June 25, Bank of America will begin charging “penalty credit card rates” as high as 29.99% to customers who make late payments. Most credit card issuers had abolished this practice after the CARD Act, but with profits slipping, they’re ... Read More »
Credit Scores Fall Nationwide During First Quarter
Credit scores fell during the first quarter, according to the CreditKarma.com U.S. Consumer Credit Score Climate Report. Nationwide, the average credit score fell two points to 665 as two more states became classified as having “fair to poor credit scores ... Read More »
Household Income Will No Longer Be Used on Credit Card Applications
If you’ve ever applied for a credit card, there’s a good chance you’ve seen the “household income” section on the application form. And when you came across it, you may have wondered how to fill it in. If you were ... Read More »
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