Finance, Credit and Loan Information

February, 2015

After 94 years, RadioShack may be about to pull the plug

Troubled electronics retailer RadioShack is reportedly close to filing for bankruptcy and is in talks to sell half of its more than 4,000 stores to Sprint while shuttering its remaining locations. Thats according to Bloomberg, which cites anonymous sources in reporting that the Fort Worth, Texas-based retailer is close to a deal that would see […]

CORRECTED-YOUR MONEY-Free credit scores now abound, but mysteries linger

(In 3rd paragraph, corrects the origin of VantageScore to show it was developed by multiple credit reporting bureaus, not just by TransUnion.) By Beth Pinsker NEW YORK Feb 19 (Reuters) – As a Citibank customer, I have been receiving my credit score on my statements since January. In February, my number went down five points, […]

Bought a look at your credit score? You overpaid

If youre paying to check your credit score, heres a news flash: Youre overspending. More than 50 million consumers now have free and regular access to their credit scores, according to a new report from the Consumer Financial Protection Bureau. That three-digit number, often in the 300-850 range (the higher the better), is what lenders […]

Is a perfect credit score worth it?

Is perfection worth it when youre oh-so-close already? When it comes to your credit score, attaining the top number may not bring as big a return as you might think — especially if your score is already the envy of most consumers. This isnt to say that you shouldnt strive for the highest credit score […]

Millennials Buy, but on Their Own Terms

We are all familiar with the unflattering descriptors that annoyingly stick to millennials: ungrateful, entitled, lazy, and self-obsessed. Most of these stereotypes have been debunked. At the very least, they are debatable. However, lenders of all stripes, especially auto lenders, should take note of the two things we know to be true regarding these Americans […]

FICO Score 9 Available to US Lenders from Experian

This new version of the FICO Score introduces a more nuanced way to assess collection information that appears on a consumers credit report, bypassing paid collection agency accounts and differentiating medical from non-medical collection agency accounts. This helps ensure that medical collections have a lower impact on the FICO Score, commensurate with the credit risk […]

This! How Not To Pay Your Bills

Americans increasingly are falling behind on their auto and student loans, new figures from the Federal Reserve Bank of New York show (see chart at bottom). If youre struggling to pay your bills, heres how you can contain the potential damage to your finances. Contact your lenders. You may qualify for a loan modification or […]

7 Ways to Build Your Credit Score Without a Credit Card

Here are a few alternatives to help raise your credit scores without the magic plastic: 1. Ask companies to report on your behalf Do you have any recurring bills that you pay on a monthly basis, such as rent, utilities, cable or a cellphone? Try giving the providers a call and request that they report […]

Lenders Press Federal Agency to Admit Mistakes

A coalition representing auto lenders says a federal agency should admit it is wrong. The group in a letter to the Consumer Financial Protection Bureau asks it to address its alleged bias and error in an analysis it uses to determine whether disparate impact, or unintentional discrimination, exists in a lenders portfolio. The coalition says […]

One in three Britons rejected for top financial deals due to poor credit scores

The financial market place is awash with rock-bottom mortgage rates, credit cards with low rates of interest and very competitive personal loans. But nearly a third of Britons have been turned down for credit or not got the competitive rate they had hoped for because their credit scores arent up to the mark, a new […]

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