Mortgage News

To reform the credit card industry, start with credit scores

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Enactment starts the clock ticking on new consumer protections. Requiring that card issuers disclose how long it would take to pay off credit card balances if cardholders make only minimum payments each month and how much users would have to pay each month if they want to pay off their balances in 36 months.

That burst had no single cause, but it’s easiest to start with the homes themselves. Historically, the home-building industry was fragmented. with an interest rate determined by the borrower’s.

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Getting a business credit card when you have average credit isn’t all that difficult since "average" these days falls solidly into the "good" credit range. Sure, you may not get some of the perks.

How to Stop Fearing AI An Open Letter To Everyone Tricked Into fearing artificial intelligence. And yet, even as processor and storage technology has raced ahead of researchers’ expectations, the deadlines for AI’s most promising (or terrifying, depending on your agenda) applications remain stuck somewhere in the next 10 or 20 years.

Credit Card Reform: Penalizing the Good for America’s Bad. – Start expecting a minimum $100 charge every year for the right to use a credit card. That’s if you can qualify for one, given that card companies, like home loans from banks will only approve credit cards for those with FICO scores greater than 750.

885 Million Sensitive Financial Records Exposed Online On Friday May 24, 2019, independent security journalist Brian Krebs revealed that real estate and title insurance giant First American had 885 million sensitive customer financial records, going back to 2003, exposed on its website for anyone to access. Krebs reported that the exposed records included social Security numbers, driver’s license images, bank account numbers and statements.

The other FICO Scores made available are calculated from versions of the base and industry-specific FICO Score models. There are many different credit scoring models that can give a different assessment of your credit rating and relative risk (risk of default) for the same credit report. Your lender or insurer may use a different FICO Score.

Checking your free credit score can be a good indicator of where your credit stands and whether you need to work towards improving your score. Lenders such as credit card companies, banks, and car dealerships providing auto loans use credit scores along with other criteria to decide whether to approve you for credit.

A starter credit card is a great way to establish and improve your credit standing. And you should definitely consider getting one if you’ve: 1) never had a U.S. loan or credit card under your name, 2) have had one for less than 3 years, or 3) misused credit in the past.

In May 2016 rep. waters introduced the Comprehensive Consumer Credit Reporting Reform Act of 2016 (H.R. 5282), a bill which proposes massive revisions to the current federal credit reporting protections and regulations provided for under the FCRA. The proposed changes in Water’s H.R. 5282 span a colossal 202 pages.