Ok, that might be a bit extreme, but according to a recent article in businessweek, the lifestyle choices a consumer makes as far as spending habits may even affect their credit score.
It’s fairly common knowledge that some major factors that influence credit scores involve occupation, payment histories, public records, ratio of balance to available credit [...]
Entries from June 30th, 2008
Red or White Wine? Your Choice Might Affect Your Credit Score…
June 30th, 2008 · No Comments · Credit Bureaus and Scores, Credit Cards, Credit Reports
Tags: CompuCredit·consumer spending habits·Credit Cards·Credit Scores·credit scoring·cut credit lines·FTC lawsuit·scoring models
Credit Cards: How to Recognize the Good Ones
June 27th, 2008 · No Comments · Credit Cards
If you want to maximize your credit card’s optional features, you need to do a little homework before you select a card. Since our economy these days depends in large part on the frequent use of credit by consumers, companies that offer credit cards have come up with a number of attractive features designed to [...]
Tags: APR·Credit Cards·Good Cards·Low Interest Cards·no-credit-check approval·Reward Cards
Foreclosure Fever: Fannie Mae Increases Acceptable Elapsed Time Criteria to 5 Years
June 26th, 2008 · No Comments · Banking, Consumer Debt, Mortgages
For better or worse, FNMA keeps tightening the reins on those unlucky (not so) few that are going through the foreclosure process. They announced earlier this spring that they were increasing the time period (up a year, to 5 years) that borrowers who have been foreclosed upon would have to wait to be considered to [...]
Tags: Credit History·Fannie Mae·FNMA·foreclosure·Foreclosure Action·Mortgage Delinquency·Re-established Credit History
Banks Increasing Reliance on Income From Late and Over-the-Limit Fees
June 25th, 2008 · No Comments · Banking
Isn’t Congress supposed to be doing something about $40 late and over the limit fees
From 2002 to 2006, the nation’s ten largest banks increased their reliance on fees by 17%.
From 1994 –2005, over–the-limit fees in the credit card industry more than doubled, while late fees nearly quadrupled.
Interchange fees–fees credit card issuers charge merchants when [...]
Tags: ATM fees·banking fees·credit card fees·increased banking costs·interchange fees·late fees·over the limit fees·overdraft fees
