How To Get Extra Credit
Before loaning you money, banks will look at your FICO credit score to determine if and how much money they will lend you. FICO has announced they are creating a new ultra credit score that also looks at your checking account.
The Credit Deep Freeze
Over 140 million people’s data was stolen when Equifax, a credit reporting company, was hacked. Many minors think they aren’t affected by this, but they are actually one of the groups with the highest risk of identity theft.
Move Over, Millennials
The first big wave of Gen Z has just become old enough to take on credit card debt, home mortgages, car loans, personal loans and student loans. Gen Z is borrowing less money after seeing the amount of debt Millennials had.
In January 2020, FICO announced the release of a brand new scoring model called, which affects the credit scores of 110 million people. With the new model, come changes to what impacts your score and what doesn't.
Got Student Loans? You're Not Alone
Many people are using the phrase "student loan debt crisis" to describe the current situation regarding the amount of Americans who have outstanding student loan debt and the ballooning amount owed in total.
Many people knew federal funds rate reached zero due to the impact of coronavirus. But, while the media covers the Fed changing rates each year, most have no clue what this means or what the Federal Reserve actually does.
Face App was a viral app that made your face seem older. However, people soon realized that you let the app access all your photos and internet searches. This is an example of how important it is to read a contract in full.
What's in Your Wallet?
In Aug 2019, a hacker stole over 100 million people's private information from Capital One Bank. Personal information bank account numbers were stolen. This shows how important it is to protect yourself against identity theft.
Getting calls from an unknown number is common. The number of scam calls has increased greatly in the past couple of years, which makes it important to be careful when you are on a phone call with an unknown caller.
'Tis the Season of Scammers
Between Nov 2017 and Jan 2018, online fraud increased by 22%. The amount of fraud skyrockets during the holiday season every year making it important to know hot to recognize a scam.
It's a SCAMdemic!
Coronavirus related scams are on the rise, and the total amount of money scammed has been around $10M. The most common scam has been targeted towards those waiting for stimulus checks.
Hackers Plan Global Bank Heist
In Aug 2018 the FBI received reports of cybercriminals that were trying to withdraw unlimited amounts of cash out of ATM’s using stolen debit cards. People need to make sure that their cards and other financial information is secure.