On average, Americans have told surveyors they had 40 percent less credit card debt than they actually did, according to a new report from New York Fed researchers.
Employers who use a person’s credit report as a factor in hiring are discriminating against potential hires and unfairly targeting people who may have fallen on hard financial times, according to Democratic lawmakers who want to ban this practice.
Four in five Americans (77 percent) don’t realize that credit accounts with high outstanding balances hurt their credit score — even if they pay the bills on time.
The CFPB saw a 56 percent increase in the number of credit reporting complaints submitted by consumers between June 2015 (4,289 complaints) — and July 2015 (6,969 complaints).
American Express started providing the option to view your FICO score this month. AmEx cardholders will notice the option if they sign-in to the account online.
The national average FICO score is now 695 — the highest it has been in at least a decade, according to the newest analysis from Fair Isaac Corporation, the score’s creator.
About 7 million consumer accounts were affected by Citibank’s “deceptive” marketing, billing, and administration of debt protection and credit monitoring add-on products, the Bureau said.
Issues with debt collectors, mortgage servicers and credit reporting agencies made up the top three categories in the U.S. Consumer Financial Protection Bureau’s first monthly report on complaint volume. Consumer…
Consumer advocates, though, support the bureau’s plan, praising the potential for unveiling new or emerging objectionable practices.
Unlike a regular credit card purchase, interest on cash advances, or those “convenient checks,” usually starts accruing right after the transaction.