APR finder Blog - Page 22 of 23

In 1970, the law governing the activities of the three major credit reporting agencies, known as the Fair Credit Reporting Act or FCRA, was passed in an effort to provide a specific set of rights for consumers. The FCRA is focused on safeguarding the information gathered, maintained, and shared by the credit reporting agencies, namely Equifax, TransUnion, and Experian, but extends its reach to cover similar information used within other systems, such as employers, housing, and banking. […]

Financial fraud is widespread and feared by most of the public. One of the most gut-wrenching feelings is opening a credit card statement and seeing huge payments for items you didn’t order. With the proliferation of the internet across the world, especially poorer countries like China, the number of hacking attempts against personal information and credit cards continues to increase. […]

FICO, the most commonly used credit score by lenders and creditors, has been around since 1989. Since that time, the credit scoring company has developed and implemented several iterations of the FICO credit score, many of which are still used in evaluating credit applications today. As consumer behaviors change and lending requirements shift, so do the credit scoring methods used to evaluate new credit applications. Because of these countless algorithmic changes, you have more FICO scores than you may think.
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Data released by Lending Club recently shows that both credit markets and credit scores are under-performing. The data revealed that people’s average credit scores were actually falling, which implies that those people are being too risky with their credit. This could partially be attributed to the growth of the peer-2-peer lending scene. Or it could be attributed to the growth in confidence since the economic recovery set in. At the same time, credit markets are also tightening, making it more and more difficult for people to acquire new lines of credit. It now appears that credit markets will remain subdued for some time. Regardless of your situation, take a look at our credit score tips to keep your credit score healthy. […]

It wasn’t too long ago that all consumers had to worry about was having enough cash in their wallet to make a purchase. In today’s technology-infused marketplace, you’d be hard-pressed to find someone walking around with wads of cash in hand. Instead, the use of plastic or in some cases, metal, is far more prevalent among consumers, and widely accepted by merchants and retailers. […]

In the United States alone, an estimated 15 million consumers are the victim of identity theft each and every year. Given the ultra-connected environment in which we live, it is no surprise that cyber criminals are constantly on the hunt for gaps in security systems of companies operating online and in physical locations. […]

Buying a car is a necessity for most adults, multiple times throughout their lives. For some, getting the keys to a car of their dreams is an exhilarating feeling – for others, a vehicle that delivers them from point A to point B is enough. No matter which situation you are in, purchasing a vehicle takes some work on the front end to ensure you’re getting the best deal in terms of pricing on the car itself and the cost of financing should you need to take out an auto loan. It is also necessary to know the best time to buy a car if you really want to pinch those pennies. Here are a few tips. […]

In 1974, The Fair Credit Billing Act was set in motion with the intent to protect consumers from errors made on credit card billing statements. Credit card holders have the right to dispute charges – and withhold payment for said charge – without experiencing a hit to their credit should the error be found to be inaccurate. As part of the Truth in Lending Act, cardholders are protected from liability from fraudulent charges if their information was stolen or otherwise used as part of a breach of the credit card company or by an individual thief. Here’s what you need to know about the Fair Credit Billing Act and your rights under the law. […]

Rewards programs have been used for decades to entice customers to sign up for credit cards and other financial packages. Today, borrowers have many options to choose from. From travel rewards programs to points for gas purchases, there are many different ways borrowers can be rewarded simply for spending money. […]

These days, credit scores rule the universe of personal finance, especially when it comes to getting a new mortgage, an auto loan, a credit card, or even a new job. Credit scores are calculated based on an individual’s use of available credit in the past, and for better or worse, these scores dictate what creditors are willing to offer in the future. A credit score that has taken a few hits over the years could seriously impede one’s ability to move ahead in their financial life, so it is important to understand how credit scores work.
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