Credit

An Experian analysis found that 1.54% of Americans have a perfect 850 credit score. Here are key traits on how these consumers manage their credit.

Edmunds.com reported that the average amount owed on upside-down loans climbed to an all-time high of $6,458 during the third quarter.

Gen Z consumers are tapping into credit at higher levels than their Millennial counterparts did in the early stages of adulthood (ages 22-24). TransUnion (NYSE: TRU) released these findings today at the company’s 2024 Financial Services Summit, attended by nearly 300 global financial services executives. The new TransUnion study, Solving for Z...

In 2005, the same year Google Maps and Wedding Crashers graced the world, four merchant associations filed the antitrust, class action.

Boost your Credit Scores and raise your FICO® Score instantly for free. Millions of points already boosted across America.

The Internet Crime Complaint Center, or IC3, is the Nation’s central hub for reporting cyber crime. It is run by the FBI, the lead federal agency for investigating cyber crime.

The bank is losing money every month on the program as savvy customers flock to the card and projections on key revenue drivers turn out to be inaccurate.

Apple said it would no longer issue loans that enabled customers to buy products online and pay in four interest-free installments, at prices up to $1,000.

by Brandon Goldstein & Caleb Hoover - April 10, 2024

Federal regulators finalized a rule on Tuesday to cap most credit card late fees at $8 as part of a broader push by the Biden administration to eliminate junk fees.

In general, Americans appear to be managing their credit well, according to Experian's latest data. Here's the average credit score by age.

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This morning, the New York Fed’s Center for Microeconomic Data released the 2023:Q3 Quarterly Report on Household Debt and Credit. After only moderate growth in the second quarter, total household debt balances grew $228 billion in the third quarter across all types, especially credit cards and student loans. Credit card balances grew $48 billion this quarter and marked the eighth quarter of consecutive year-over year increases. The $154 billion nominal year-over-year increase in credit card balances marks the largest such increase since the beginning of our time series in 1999. The increase in balances is consistent with strong nominal spending and real GDP growth over the same time frame. But credit card delinquencies continue to rise from their historical lows seen during the pandemic and have now surpassed pre-pandemic levels. In this post, we focus on which groups have fallen behind on debt payments and discuss whether rising delinquencies are narrowly concentrated or broad based.

A third of earners making more than $150,000 a year say they won’t be able to pay off their credit card balance this year. What's going on?

Credit card rates and debt are at an all-time high as the Federal Reserve raised borrowing costs to tame inflation.

Question of the Day for teachers and students (Updated): What's the average interest rate on a car loan for someone with bad credit?

The CFPB has sued one US company for trapping consumers in an endless cycle of personal loan refinancing.

There’s a lot of animosity about this grading system, but it is part of our financial lives.

SANTA BARBARA, Calif., March 21, 2023 (GLOBE NEWSWIRE) -- In 2022, US merchants paid a record $160.70 billion in processing fees to accept $10.589...

A perfect 850 credit score may earn you bragging rights, but not much else, says credit card expert.

More Americans are carrying more credit card debt than ever, and the costs can be steep, according to new Bankrate data. Here's what you need to know.

A short history of consumer borrowing and credit card debt in America.

/PRNewswire/ -- Today, VantageScore released CreditGauge, a monthly analysis highlighting the overall health of U.S. consumer credit. The average VantageScore...

The challenges to managing credit this year has been the impact of increased interest rates on all types of borrowing, and the trend, especially for smaller retailers, to either charge a fee for using a credit card to cover the “swipe fees” the merchant pays, or offer a discount for cash. We will discuss the details behind this and the proposed legislation to deal with this situation.   Interest Rates In July, the FOMC raised its benchmark interest rate to 5-5.25%. What do higher interest rates mean for all of your credit vehicles?

Total household debt balances increased by $16 billion in the second quarter of 2023, according to the latest Quarterly Report on Household Debt and Credit from the New York Fed’s Center for Microeconomic Data. This reflects a modest rise from the first quarter. Credit card balances saw the largest increase of all debt types—$45 billion—and now stand at $1.03 trillion, surpassing $1 trillion in nominal terms for the first time in the series history. After a sharp contraction in the first year of the pandemic, credit card balances have seen seven quarters of year-over-year growth. The second quarter of 2023 saw a brisk 16.2 percent increase from the previous year, continuing this strong trend. With credit card balances at historic highs, we consider how lending and repayment have evolved using the New York Fed’s Consumer Credit Panel (CCP), which is based on anonymized Equifax credit report data.