For example, if you have $10,000 in credit card debt with a 25 percent annual percentage rate, you'll have paid around $2,500 in interest over the year. But if you could get that rate down to 18 percent, you'll pay $1,800 over 12 months, and save yourself $700. … [Read more...] about Your Credit Score May Have Just Gone Up. Here’s Why
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Some investors on Wall Street are banking on the company to falter financially. According to IHS Markit, hedge funds are boosting their bets against Equifax, amassing a short position of $600 million -- an amount matching highs in the fall of 2017, when the company first disclosed the data breach. Short sellers borrow shares in a company and then sell them with the hope of later buying the same number of shares at a lower price. If the stock price falls, they profit by pocketing the difference. … [Read more...] about Ocasio-Cortez targets Equifax, credit scoring as ‘dice game’
The publication says the system is "complex and less sinister" than it appears, however, as the project is aimed at building a "culture of trust in Chinese society" to help stymie official corruption, and punish unethical behaviour among professionals, including teachers. … [Read more...] about China blocks 17.5 million plane tickets bought by people without enough ‘social credit’ in creepy system to control behaviour
Why Should I Check It?Reports and scores are not free from error. Unfortunately, many of them are subject to it. A 2013 Federal Trade Commission report found that 20% of consumers have errors on their credit reports, and for 5% of consumers those errors are enough to affect their credit scores. With these statistics in mind, it is an absolute must that potential homebuyers check theirs for accuracy. … [Read more...] about Buying a Home? Do This First!
Provisions in the CARD Act protecting college students from credit card marketingThe first provision this article focuses on is the elimination of on campus promotions and giveaways.[xxxii] The CARD Act amended TILA to prevent credit card issuers from signing up college students in exchange for gifts or giveaways.[xxxiii] This exchange is defined in the federal regulation as an “Inducement.”[xxxiv] Inducement is “any tangible item to induce such student to apply for or open an open-end consumer credit plan offered by such card issuer or creditor, if such offer is made”[xxxv] There is concern that “tangible” is too narrow a definition, as credit card issuers can give reward points or discounts, and there is a call for broadening the definition.[xxxvi] As mentioned earlier, before the CARD Act, credit card issuers could give free t-shirts, pizza and other gifts at college campuses.[xxxvii] In order to clear up the ambiguity of … [Read more...] about Credit Card Marketing Geared Towards Students and the Policies to Address the Dilemma: Can More Be Done?