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Credit Scoring Reporting

Studies show credit card defaults falling along with monthly balances

American consumers managed their credit cards more effectively in February, according to the latest report from the S&P/Experian Consumer Credit Default Indices. The national default rate on bank cards fell to 3.37 percent, down 4 basis points from the previous month and down a full percentage point from the same period a year earlier. In a [...]

Categories: Credit Scoring / Reporting
Credit cards and collections agencies weigh heavily on credit reports, says CFPB

The handful of credit cards in a typical American's wallet bears a disproportionate impact on a credit report compared to other consumer accounts, according to a new CFPB report. In a white paper published this month, officials at the Consumer Financial Protection Bureau used existing research to call out the need for stronger financial literacy [...]

Categories: Credit Scoring / Reporting
Credit cards for fair credit boost TransUnion's Credit Risk Index

Credit cards for fair credit and poor credit have returned in force after a few years on the market's back burners, according to analysts at TransUnion. As a result, the credit reporting agency's leading risk indicator has returned to a level last seen at the start of the country's financial crisis. TU's Credit Risk Index notched [...]

Categories: Credit Scoring / Reporting
Credit scores about to get personal

A big change to credit score reports is on the horizon. Information such as late rental payments, property tax liens, delinquent homeowners association payments and other personal financial information could show up on consumer credit score reports in the near future. CoreLogic, a financial data collector that provides streamlined credit reports to mortgage companies and other [...]

Categories: Credit Scoring / Reporting
Credit score: Nice guys finish last

Nice people — as well as bad drivers — should worry about their credit scores, according to recent reports. According to the Globe and Mail, a Louisiana State University research team set out to investigate the common belief that employers could judge a job applicant's trustworthiness by reviewing their credit reports. The LSU researchers couldn't find [...]

Categories: Credit Scoring / Reporting
New scores aim to predict consumer behavior

Your public records could help tell your doctor whether you're likely to take your medication on time, according to researchers at the country's most prominent credit scoring agency. According to a Wall Street Journal report, FICO has launched a new consumer rating system based on the information collected from public agencies and courthouses. The "Medication Adherence [...]

Categories: Credit Scoring / Reporting
Credit scores: Wisconsin 1, Texas 0

Two new reports on credit scores: one reveals significant variation by state, and another shows how credit scores are affected by common holiday credit moves such as applying for a retail card or sudden increases in credit utilization. Location, location, location Credit agency Experian released its State of Credit report and it found residents of Texas suffer [...]

Categories: Credit Scoring / Reporting
TransUnion: Credit card delinquencies hit 18-month low

A recent TransUnion report reveals that credit card delinquency has continued to drop in the second quarter of 2011, marking what now amounts to a year and a half of falling delinquency rates. Although delinquency rates have been dropping for the past six quarters, the improvement in the second quarter of 2011 was still unexpected [...]

Categories: Credit Scoring / Reporting, Credit Card Debt / Debt collection, Credit Card Delinquencies
Fed: Banks must release credit score when denying credit card application

Credit card applicants can see their credit scores for free if a bank used that score to decline service, according to the Federal Reserve. The Federal Trade Commission and the Federal Reserve Board jointly announced their rules for implementing free credit score notifications under the the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Fair [...]

Categories: Credit Scoring / Reporting, Credit Card Law
Credit card accounts up 35 percent since last year, says Equifax

Credit card deals have helped banks bounce back with a 35-percent bump in new accounts compared to last year, according to a new report from Equifax. Researchers at the national consumer credit bureau released the July edition of their monthly Credit Trend Report, drawing on data compiled from the credit profiles of nearly 600 million [...]

Categories: Credit Card Debt / Debt collection, Credit Scoring / Reporting
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