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UltraFICO, A New Credit Scoring System, To Launch In 2019
Today, Experian, FICO and Finicity unveiled a new development called the UltraFICO score. This credit score model combines information from an existing FICO credit score with a consumer’s financial...
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LowCards.com Weekly Credit Card Update–October 26, 2018
Your Child Could Be Running Up Your Credit Card Bill A new survey from CompareCards found that 29% of parents have had their children under age 18 use their credit or debit cards without their...
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Experian to Include Utility Bill Payments in New Credit Score Model
Experian has developed a new credit score model to help consumers boost their credit score. The program, known as Experian Boost, uses utility and phone bill payments to contribute to a person’s credit...
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FICO Scores Reach an All-Time High
The average FICO score in the United States has reached an all-time high. The credit scoring company reports the average American now has a score of 706, up from 700 this time last year. After the...
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Millennials Are the Driving Force behind Record-High FICO Scores
According to Experian’s newly-released Consumer Credit Review, Americans now have an average credit score of 703. Over 59% of consumers report a credit score above 700, the highest volume in recorded...
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LowCards.com Weekly Credit Card Update–January 24, 2020
Cash, Plastic or Hand? Amazon Envisions Paying With a Wave Amazon wants to make your hand your credit card. The tech giant is creating checkout terminals that could be placed in bricks-and-mortar...
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Department of Justice Launches Investigation against FICO for Exclusionary...
Last Friday, the Department of Justice opened a civil investigation against the Fair Isaac Corporation. (FICO). The DOJ’s Antitrust Division is looking into FICO’s policies for signs of “potentially...
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LowCards.com Weekly Credit Card Update–March 20, 2020
Contact Your Credit Card Issuer: Fees or Payments May Be Waived Amid Coronavirus Pandemic Your credit card company may cut you some slack during the coronavirus pandemic. With repercussions from the...
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Discover Credit Scorecard Makes Kiplinger’s “Best”
Kiplinger named the Discover Credit Scorecard to its Personal Finance 2016 The Best List. The Discover Credit Scorecard, which was named one of the best Free Credit Sites, was launched in May to give...
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Ethoca and FICO Partner to Limit Card-Not-Present Fraud Losses
Ethoca and FICO have partnered to make it easier for card issuers to maximize the recovery of card-not-present (CNP) fraud losses. CNP fraud not only costs card issuers financially, but the inefficient...
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Millennials Lose Interest in Credit Unions as They Age
Millennials lose interest in credit unions as they get older, according to a new survey from FICO. 20% of Millennials age 18-24 said they use a credit union for their primary financial institution, but...
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LowCards.com Weekly Credit Card Update–July 2, 2020
Credit Card Industry Reins In Balance Transfer Offers As Banks Fear Defaults Balance transfer offers, which typically entice borrowers to move their debt to a new lender in exchange for a temporary 0%...
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Credit Score vs. Credit Report – Which Is More Important?
Your credit score and credit report are two different things. Both play an important role in your ability to secure a line of credit, and they work together to portray your creditworthiness....
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What is a Credit Builder Loan?
What do you know about credit builder loans? It’s a different type of loan product that drastically lowers any risk because you can cancel at any time. If your circumstances change, you simply let the...
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Timely Payments On A Secured Credit Card May Quickly Benefit Your Credit Score
According to a study by the Consumer Financial Protection Bureau, 45 million consumers in the United States have either little or no credit history. If you are in this position, it would be very...
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