Can Poor Credit Cost You a Job? A Recent Study Says Yes
For many of the most desperately unemployed, credit checks may be standing between them and a job, a new study shows.
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Leading Economic Indicators Index Up 0.2% in January
A measure of the U.S. economy's future direction edged up in January from December, suggesting slow growth will continue in the coming months. The Conference Board says its index of leading indicators rose 0.2 percent in January to 94.1, the second straight increase.
Study: 1 in 5 Consumers Had Error in Credit Report
One in five consumers had an error in a credit report issued by a major agency, according to a government study. The FTC study also said that 5 percent of the consumers identified errors in their reports that could lead to them paying more for mortgages, auto loans or other financial products.
Year-End Paperwork Purge: What to Keep, What to Shred
Even the most digitally savvy consumer can amass reams of paperwork by year's end, from ATM and gift receipts to credit card statements and tax forms. Here's the skinny on what to keep and what to toss in the year-end paperwork purge.
U.S. Consumer Borrowing Rises to Record $2.75 Trillion
Americans swiped their credit cards more often in October and borrowed more to attend school and buy cars. The increases drove U.S. consumer debt to an all-time high. The Federal Reserve said Friday that consumers increased their borrowing by $14.2 billion in October from September. Total borrowing rose to a record $2.75 trillion.
New Laws Mean Unused Gift Card Money Won't Be a Gift to Stores
Gift cards have made holiday shopping a whole lot easier for millions of people. But they also raise a big question: Who should profit when people don't use up their gift card balances?
What's Your Payment Personality? American Express Can Tell You
Are you a conservative, pays-with-cash sort of consumer or a smartphone-wielding early adopter? As it turns out, what's in your wallet may say more about you than you think.
6 Key Money Lessons of 2011: What We've Learned
At this time last year, maybe you thought the economy would be a bit more gracious by now. No such luck. But as we reflect on the year that was, here are six financial lessons that 2011 taught us all.
Financial Trick or Treat: Sweet Deals, Scary Mistakes
The world of personal finance is a lot like Halloween: Filled with treats if you're good (and clever), but rife with tricks if you're not careful. Here's some advice that will keep your money tree from getting TPed, and help you bring home a pumpkin full of sweet rewards.
How to Raise Your Odds of Getting a Mortgage
It doesn't look like the housing market will come roaring back anytime soon, but with historically low interest rates, now's a good time to buy. The hard part is that banks in the post-bubble era are notoriously stingy with that cheap money, so figuring out how to get a smile out of a mortgage lender is task No. 1.
Personal Bankruptcy Filings Fall, but Hold the Applause
In this cloudy economy, we're all constantly hunting through the news and statistics for silver linings. Here's one that looks promising: In the first nine months of 2011, personal bankruptcy filings decreased 10% compared to a year earlier -- but experts say it's nothing to cheer about.
1 in 4 Spouses Is Willing to Cheat ... Financially
Your sweetheart may be keeping a big secret from you, and it's not that there's some other guy or gal. It's the truth about their money. According to new poll from the National Foundation for Credit Counseling, 24% of respondents wouldn't tell their spouse if they were experiencing financial difficulties.
How Paying the Rent Can Boost Your Credit Score
In these shaky economic times, your credit score carries more weight than ever, which means building a credit history is vital. Paying bills on time is one thing that buffs up your score, but until now, paying your rent meant nothing. Credit bureau Experian and RentReporters.com are changing that.
Cash-Strapped Americans Can't Break Overdraft Habit
Overdraft fees are like a movie monster that just won't die. No amount of public outrage or regulation can slay the beast. But the banks aren't the only ones casting overdrafts in financial sequels: Truth is, consumers keep breathing life into the overdraft dragon.
Americans Ring Up 'Mind Boggling' Debt in Q2
Habits are hard to break: Just when you think you're firmly in control, you backslide again. According to CardHub.com, U.S. consumers accumulated a staggering $18.4 billion in credit card debt in the second quarter -- 66% more than they accumulated in the same quarter a year ago.
What to Do First: Save or Pay Down Your Debts?
For many households, it's a personal fiance dilemma: Should they try to pay down debt first, or build up savings? In the aftermath of the Great Recession, opinions have clearly tipped toward the ditch-your-debt side. But that's not always the right answer.
Less Need Now to Read Your Credit Card's Fine Print
It appears that complaints from consumers and regulators about the lack of credit card transparency at banks have not fallen on deaf ears. According to CardHub.com's 2011 Credit Card Application Study, the 10 biggest issuers of plastic have significantly improved transparency this year.
How to Dig Yourself Out of Credit Card Debt
U.S. credit card debt shrank 5% in the second quarter from a year ago, approaching 10-year lows. It's not just due to banks, which have written off uncollectible debts. Learn how consumers are taking control of their finances and how you can too.
Keeping Your Credit Card Numbers Safe
With all the hackers in the headlines, you might be feeling more hesitant to offer up your credit card numbers while shopping online. Virtual credit card numbers offer one possible solution. But don't expect them to be infallible.
The Trouble with Online Payday Loans
If you're strapped for cash and need money quickly, an online payday loan can be tempting. But these high-interest loans can lead to financial trouble. Here are some tips on selecting a provider, as well as some alternatives to payday loans.
How Paying the Wrong Bills Costs You Money
Should you pay the last $100 on credit card with 10% annual interest, or $100 of a card with $1,000 and 15% interest? A new study finds that consumers prefer to pay off credit cards with the smallest balance, not the cards with the higher interest, even though it costs them money.
Prepaid Cards: Which Ones Are Worth the Fees
CardHub.com recently put five of the most well-known prepaid card issuers under the microscope to see how useful their products are based on fees and features. Which offers the best deal? The answer might surprise you. But the real question is should you use a prepaid card at all.
Can't Get Credit? You May Be Living in the Wrong State
Credit is ever so personal, and ultimately it's your responsibility -- but it's not solely about you. Your state's creditworthiness can impact you too. For that reason, CardRatings.com's recently released rankings of the 10 Best and Worst States for Consumer Credit is worth a look-see.
Denied Credit? New Fed Rule May Interest You
Have you ever been turned down for a loan? Had your credit line slashed or interest rate bumped up? Well, starting Thursday, banks and other lenders will be required tell you a bit more about why. The FTC and the Fed are implementing a new rule requiring lenders to show consumers the credit score data they used to make their decision.
Stock-Based Loans: Quick Cash, but Watch Your Assets
If you need cash and have investments you don't want to sell, a stock-based loan may sound like a good idea. But the unregulated stock-based loan industry can be a risky way to tap into the value of your portfolio, warns the Financial Industry Regulatory Authority.
How to Earn, Use Your Credit Card Rewards
If you've been racking up credit card rewards, summer is the perfect time to use them. In fact, a new survey suggests that more Americans plan to do just that -- cashing in their credit card rewards as a money-savvy way to enjoy everything from quick weekend getaways to extended overseas vacations -- during the summer months.
Rent-to-Own Is a Big Ripoff, Says Consumer Reports
No credit check, low weekly payments and carry it home today? If you think rent-to-own stores' deals are too good to be true, you're right. They're a ripoff that leave unwary consumers paying the equivalent of up to 311% interest, according to a new investigation by Consumer Reports.