CFPB Finds Differences in Credit Scores
The credit score you purchase from a credit reporting agency may be very different from the score your lender sees. Lender's scoring models place nearly one in five consumers in different credit...
View ArticleHow Your Credit Score is Calculated
They may be three simple digits but your credit score is the probably most important number in determining your financial future. Your credit score is both a representation of your payment history and...
View ArticleLenders Use Bankruptcy Score to Analyze Your Loan
If you are close to bankruptcy, your lenders probably already know about it. Credit reporting agencies have their own formulas that predict the likelihood of bankruptcy. The general public never sees...
View ArticleFinancial Habits of Consumers with High Credit Scores
FICO recently released a study that gives details about the financial habits of the 50 million consumers with the highest credit scores. FICO scores range from 300 to 850 and any score above 785 is...
View ArticleLowCards.com Weekly Credit Card Update November 21
Mobile Apps Aim to Steer Consumer Credit Card Choices There are two new mobile apps which help cardholders select the best credit card to use at checkout. Wallaby Financial released a free app that...
View ArticleConservative Credit Card Spending Projected for Holidays
Credit card debt will still be the biggest financial worry for consumers in the new year, according to a new myFICO survey. The survey showed that almost a quarter of respondents said they will need...
View ArticleDelinquent Student Loans Climbing Fast
A new FICO study reveals that student loan debt has increased dramatically and the default rates on these loans are now much higher than previous years. These loans pose a greater risk now due to the...
View ArticleAlarming Number of Student Loans Are Delinquent
For the second time this week, a study by a credit agency shows delinquency rates on student loans are climbing. According to a TransUnion study, more than half of student loans are in deferred status...
View ArticleChanges 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...
View ArticleInfoglide Finds New Home with FICO
The Fair Isaac Corporation, better known as FICO, recently acquired Infoglide of Austin. Infoglide is a software company that specializes in fraud detection for businesses and government agencies. Its...
View ArticleCredit Card Balances Predicted to Increase
The majority of bankers in a recent survey expect the average credit card balance to increase over the next six months but only about a quarter of them predict that delinquencies will increase. These...
View ArticleAre You Buying Your Real Credit Score?
Credit scores are how lenders, and even some insurers and employers, judge consumers. For a number that carries such influence, there are many grey areas that can create problems and confusion for...
View ArticleThe History of the Credit Card
Technology, innovation and social media are bringing changes to credit card payments. Consumers have been slow to adapt to these changes, but that should not come as a shock. History shows that methods...
View ArticleLowCards.com Weekly Credit Card Update–November 8, 2013
MasterCard 3rd-Quarter Net Rises 14% on Increased Purchases MasterCard said third-quarter earnings rose 14% as spending on its credit and debit cards continued to grow. MasterCard, like its larger...
View ArticleDiscover 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...
View ArticleThree 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...
View ArticleTop 10 Credit Card Stories of 2013
Identity theft and actions by the Consumer Financial Protection Bureau dominated the credit card headlines in 2013. Below are the Top 10 news stories of the year in the credit card industry. One of the...
View ArticleAre Free Credit Scores from Credit Card Issuers Valid?
Barclaycard and First Bankcard were the first credit card issuers to offer their cardholders free credit scores. These issuers enable their customers to check their FICO credit score at any time...
View ArticleLowCards.com Weekly Credit Card Update–February 28, 2014
Financial, Retail Industries Keep Cybersecurity Mistakes and Punishments Secret Even as cyberthreats grow in frequency and sophistication, the system for ensuring payment card security in the United...
View ArticleCFPB 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...
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