Could this be a light at the end of the credit crisis tunnel? According to new research from Fair Isaac Corporation, the company responsible for FICO scores, the percentage of Americans with top-notch credit scores is the best it’s been since 2008. In addition, the number of people in the bottom tier of the credit spectrum has fallen to …
credit scores
Why Are Credit Report Errors So Hard to Fix?
A yearlong investigation by the Columbus Dispatch has uncovered systemic flaws in the data collection and dispute resolution processes used by the credit bureaus. For Americans who find errors in their credit files, this can mean …
Need a Mortgage? Better Hope Your Credit Record Is Almost Perfect
Credit requirements for home loans have remained very restrictive even as banks are offering credit cards and car loans to riskier borrowers. This has been pretty well-documented, but until now, nobody had actually crunched the …
Occupy Wall Street Is Only Half Right About Credit Reform
Do we really want to take financial advice from a bunch of kids living in tents? Surprisingly, we just might.
How to Ask For a Higher Credit Limit
If you’re a credit card customer with an account in good standing, this is a good time to ask for a credit limit increase. After the financial crisis in 2008, issuers got very stingy with credit, cutting limits or closing …
5 States With the Worst Credit Scores
What’s in a number? When that number is your credit score, it’s the key that gives you access to credit cards, mortgages and other loans. Anything below 720 can make it tougher or more expensive to get a loan now, which means a …
5 Credit Facts Every Couple Should Know
While your finances might not be the first thing that springs to mind as Valentine’s Day approaches, your credit can be affected by your partner’s history and spending habits. Credit counselors advise couples to sit down together …
Suze Orman’s New Prepaid Debit Card
Oprah pal Suze Orman never had much in common with reality TV‘s Kardashian sisters — until now. The personal finance personality debuted a prepaid debit card, the Approved Card. Prepaid cards are notorious for high fees — and …
A Long To-Do List Awaits the CFPB and Its New Director
Now that the Consumer Financial Protection Bureau has a director (albeit one whose appointment could be challenged in court), it has quite the to-do list. At the top, according to newly installed bureau head Richard Cordray, is …
Brace For a January Blizzard — of Credit Card Offers
Fewer Americans are defaulting on their credit card bills. That’s good news for our budgets and credit scores, but the improvement is also making credit card issuers happy. Fewer charge-offs means they’re in a better position to …
5 Things That — Surprisingly — Don’t Hurt Your Credit Score
There are a whole host of things that can wreak havoc on your credit score, from maxing out a credit card to having a home foreclosed on or declaring bankruptcy. But people often worry about situations or events that actually …
Will an Alternate Credit Score Help or Hurt Borrowers?
What if your credit score included things like rent payments, utility bills and tax obligations? What if it also told lenders if you’d ever borrowed using risky or subprime products? A new type of credit evaluation being rolled …
