Managing Credit Fincap Fridays

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.

FinCap Friday: Repossessions on the Rise

More Americans are falling behind on their car payments and there are more and more underwater car loans. What's the meaning of an "underwater" car loan? Why are experts worried about them trending upward in early 2023?

Debt at Record Highs As Interest Rates Rise

Americans are relying on credit cards more than ever. But as prices increase, they're also having trouble making payments. Data from the NY Fed shows that consumers have racked up nearly $1 trillion in credit card debt.

Gen Z Credit Frenzy

Data from Vantagescore in the summer of 2022 showed that, contrary to popular belief, Gen Z credit card customers are seeing an increase in the balance owed that is about 3 times faster than the average! Find out why...

Americans Regret Holiday Debt

After the holiday season people are usually refreshed from a nice break and they're feeling the positive energy of the new year. But in 2022, many Americans say the holiday left left them in a lot of debt!

Debt in the DM

With a CFPB rule that took effect on November 30, 2021, consumers who owe debt to a debt collection agency can now expect to get texts, emails and even DMs on social media about their overdue payments! What are the details concerning this new rule? Click to learn more!

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.

'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.

Who's Calling?

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.

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.

Terms of Use on the Loose

In December 2020, Instagram released updated terms of use but most people don't read through terms and conditions so they don't know what they agreed to! Data shows most people agree to terms without reading them.

Dangerous Downloads

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.

Fed Up!

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.

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.

Credit Crunch

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.

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.

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.