Most Americans do not understand how credit scores work, according to a survey released Tuesday by the Consumers Federation of …
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Survey
Most Americans understand that their activities online are constantly being monitored. And they don’t like it one bit. New survey …
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In September 2010, then-California Governor Arnold Schwarzenegger vetoed a bill that would have significantly restricted the use of credit checks …
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The Credit CARD Act of 2009 brought some much-needed protection to consumers. But along with all the good stuff, we …
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A new Credit.com survey showed that only 50 percent of respondents have checked their credit during the past year. These …
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Last week a new study took the academic world by storm. NYU sociologist Richard Arum and his associate Josipa Roksa …
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Paul Kedrosky of Infectious Greed ran this graph of consumer sentiment from 1978 to the present. Are we crawling out of a hole, or is this just a blip before another dip? Share your thoughts in the comments.
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The average family of four could receive $4,000 between tax refunds and economic stimulus rebate checks this spring. That’s quite a windfall! The government wants consumers to spend it, but many people are planning to save or pay off their debts with the amount. How are you planning to spend your refund and rebate?
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Economists and investors are eagerly waiting for the outcome of the next Federal Reserve Board meeting on January 30. With the stock market running wild and increased talk of recession, many are calling for another interest rate cut. This would potentially bring the federal funds rate down to 3.75%, the lowest it has been since September 2005.
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The FICO formula change was designed to stop credit repair fraudsters from selling access to established credit accounts, a practice called “piggybacking.” However, 30% of the US population has at least one authorized user credit card account on their credit files. The score change will likely lower this group’s credit scores fairly significantly. It will also make it harder for new consumers to establish their credit.
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