Managing Credit Fincap Fridays
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Managing Credit Fincap Fridays
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.
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.
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!
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.
Major News From Major Credit Bureaus
The 3 major credit bureaus decided to allow Americans to be able to access their credit reports every week through April 2021 for free. Before this announcement, people could only access their credit reports for free once a year.
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.
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.
