(Patrick Fagan)

Citibank Raises Fees For Accounts, But Plans To Offer Free Credit Reports To Some Customers

Citibank is poised to become the second financial institution to provide customers with free credit scores each month. But that’s only if customers stick with the company after its latest fee hike. [More]

Medical Debt Still Stinks, But New Credit Score Change Will Make It Hurt Your Life Less

Medical Debt Still Stinks, But New Credit Score Change Will Make It Hurt Your Life Less

Credit reporting behemoth FICO is making changes in the way it calculates credit scores. And for once, there’s some good news. The changes are expected to make it easier for most Americans to access credit — that is, to borrow money and take out loans — and will punish fewer consumers for incurring some debts that were out of their control. [More]

Discover Giving Free FICO Scores To All Cardholders, But Are They Actually Useful?

Discover Giving Free FICO Scores To All Cardholders, But Are They Actually Useful?

All Americans are, as Consumerist is happy to remind you, entitled to access their own annual credit reports for free. But those reports are just that: reports. They don’t come with credit scores on them. For those, you still have to pay. Unless, that is, you happen to have a Discover card–and maybe, someday, other major credit cards, too. [More]

(me and the sysop)

Young Adults Not Eager To Take On Piles Of Credit Card Debt For Some Reason

Everyone has that one relative who was an adult during the Great Depression and hid boxes of cash all over the house because they didn’t trust banks. Someday, your own descendants might share tales of weird old Aunt Mykayla, who entered the workforce during the Great Recession and refused to get credit cards or even buy a car. [More]

(nffcnnr)

Advocates Call On Senate To Remove Paid Medical Debt From Credit Reports

Medical bills can be outrageously high, and usually there’s a direct relationship between the unexpectedness of a procedure and its cost. Sometimes, no financial planning in the world can forestall unforeseen medical expenses. Yet if any medical debt ends up on your credit report, it can remain there for up to seven years — even after you’ve paid it in full. That’s why a large coalition of advocacy groups have written Senate leadership asking them to consider the Medical Debt Relief Act. [More]

(Alec Peden)

Bill Would Allow Consumers To Get Free Credit Score When Receiving Free Credit Reports

Right now, U.S. consumers can check each of their three credit reports — from TransUnion, Equifax, and Experian — once a year for free through AnnualCreditReport.com, but getting your actual credit score will probably cost you. Legislation introduced today seeks to remedy this issue. [More]

Knowing your accurate FICO score might be sweeter than chocolates.

This Valentine’s Day, Tell Congress You’d Really Love Access To A Free, Reliable Credit Score

While the three major credit bureaus each allow you to access your credit report once a year at no charge through annualcreditreport.com, getting your actual credit score will likely cost you some money. [More]

(afagen)

Student Loan Debt Is Creating Generation Of High-Risk Borrowers With Low Credit Scores

Lots of people graduate college with minimal credit histories. Repaying student loans was always a dependable way to build that history. But recent, rampant growth in student loan debt in the U.S. could slow that process for an entire age group. [More]

(kevindean)

Visa, FICO Warn Card Issuers Of More Sophisticated ATM Crimes

Card skimmers have been around for a while. And while they may have gotten smaller and harder to detect, the people using the skimmed data were generally limited to how much cash they could pull out of victim’s accounts in a day. And so a new breed of criminal has figured out a way to steal hundreds of thousands of dollars from ATMs. [More]

(Plankton 4:20)

One-In-Five Consumers Seeing Significantly Different Credit Scores Than Creditors

Much is made about how much impact your credit scores has on your ability to get a loan, live a happy life and be a good human being. But a new report from the Consumer Financial Protection Bureau claims that one-in-five consumers are seeing scores that are significantly different from what lenders see. [More]

Surprise! Somehow The Recession Didn’t Do Severe Damage To Our Credit Scores

Surprise! Somehow The Recession Didn’t Do Severe Damage To Our Credit Scores

While plenty of other financial aspects of our lives may have been sent into a downward spiral since the recession hit in 2008, there is a bright spot in all that job loss and economic gloom: On average, our credit scores have stayed steady. But what exactly does that mean? [More]

Freeze Your Credit Report

Freeze Your Credit Report

One way to protect yourself from identity theft is to “freeze” your credit report. This means that no new lines of credit can be opened in your name because lenders are prevented from taking a look at your credit report. This stops identity thieves from opening credit cards under your name and going on spending sprees. It also means extra hassle for you when you want to legitimately open credit. There’s always a tradeoff between security and convenience. Here’s how to do it. [More]

5 Myths About Your Credit Score

5 Myths About Your Credit Score

How one’s credit score is computed is to most people a complete mystery, akin to figuring out a quarterback’s passer rating. Thus, there are numerous myths and half-truths that have attached themselves to credit scores, some of them having at least a partial basis in fact. [More]

Denied For A Credit Card Or Loan? Lenders Will Soon Have To Show You Your Credit Score & More

Denied For A Credit Card Or Loan? Lenders Will Soon Have To Show You Your Credit Score & More

If you’ve ever been turned down for a credit card, auto or student loan — or maybe your application was accepted but you didn’t get the best interest rate — and wanted to see a copy of the actual credit score used in the lender’s decision-making process, you were probably out of luck. But starting July 21 lenders will be required to show you the score. [More]

FICO Sells New Score That Predicts Whether You Will Take Your Medicine

FICO Sells New Score That Predicts Whether You Will Take Your Medicine

Are you going to be a good boy and take your medicine? Next time your Mom won’t have to ask you. She can just check your FICO Medication Adherence Score. The same people who make the standard credit scoring model have turned their data mining drills and abacuses onto medicine. They’re selling a new score that says can predict if you will take your medication correctly. [More]

Being 30 Days Late On House Payment Can Knock 100 Points Off Credit Score

Being 30 Days Late On House Payment Can Knock 100 Points Off Credit Score

Usually very closed-mouth about how it calculates scores, FICO released a whole bunch of data about how being late on your mortgage payments affects your credit score. For instance, being 30 days later on a mortgage payment can chop your 780 credit score down to 670. And a short sale or deed-in-lieu of foreclosure will hurt your score just as bad as a foreclosure if the service reports it as having a deficiency amount or an unpaid balance. Yikes! Here’s some sexy tables with more details: [More]

Banks Concocting New Ways To Spy On You

Banks Concocting New Ways To Spy On You

Feel the hair on your neck rising? Your bank is watching, with greater scrutiny then ever before. Banks are figuring out new scores and models to figure out your credit worthiness, using everything from how you deposit and withdraw money to how you pay your rent. [More]

Help, Expedia Sold My Chargeback To A Collection Agency!

Help, Expedia Sold My Chargeback To A Collection Agency!

Ed and his wife successfully filed a chargeback against Expedia for a canceled trip earlier this year. Now he’s being dunned by a collection agency for the amount that Amex refunded him. [More]