Credit score improvement tips

The Los Angeles Times is providing consumers with a few tips for how they can improve their credit scores. For starters, the paper states consumers should review their credit reports to make sure they're accurate. Author Liz Weston tells the newspaper consumers should pay special attention to duplicate charges and entries that are several years […]

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Poll: 83 percent willing to help their financially-distressed neighbors

Should a homeowner be experiencing money troubles, they may want to reach out to their neighbor for help. After surveying 17,000 people about the state of the economy and how willing they'd be to help their neighbors if they were having financial difficulty, Harris Interactive found 83 percent would be amenable to assisting. "This data […]

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Fannie Mae projects further weakened economy, housing market

A weak consumer outlook and continued issues in the housing market were the main reasons for Fannie Mae's Economics & Mortgage Market Analysis Group's poor forecast for the remainder of the year. The group's August 2011 Economic Outlook shows it believes another recession could take place beginning at some point between now and December. After […]

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Auto loan delinquencies fall for seventh straight quarter

It appears more motorists are paying down their car loans, as a new report from the credit monitoring agency TransUnion indicates auto delinquency rates fell for the seventh-straight quarter. Though the delinquency rate in the second quarter was expected to decline, Peter Turek, automotive vice president for TransUnion, said the dropoff has been larger than […]

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Credit card delinquency rate falls again

Though foreclosures may be on the rise, the credit card delinquency rate has fallen to its lowest level since the 1990s, according to a recent report. Credit monitoring agency TransUnion says the number of consumers who haven't paid their credit card bills in more than 90 days (90 days or more) dropped for the sixth-straight quarter between […]

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Report: Bank card default rate dropped in July

According to a report by Standard & Poor's and Experian, many credit default rates experienced declines during July, including bank card default rates, which dropped nearly 6 percent. The S&P/Experian Consumer Credit Default Indices show the number of bank card defaults fell 5.64 percent. Additionally, first and second mortgage default rates slid month-to-month, decreasing 1.93 […]

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New York Fed: Consumer credit markets healing

The Federal Reserve Bank of New York's Household Debt and Credit Report for the second quarter shows consumer creditworthiness improved slightly nationwide, as balances of most loans decreased and credit card limits increased. According to the report, mortgage and home equity lines both declined by $20 billion during the quarter, while credit card limits rose […]

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Credit card customer satisfaction rose in 2011

Customer satisfaction with credit card companies increased for the second consecutive year, according to a recent report by J.D. Power and Associates. According to the firm's 2011 Credit Card Satisfaction Study, American Express ranked the highest in customer satisfaction this year. The company earned a score of 786 out of 1,000 possible points. Overall, the […]

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FHA loan applications decline in July

Credit issues may have been a main contributor to the decrease in single-family mortgage volume in July, according to the Federal Housing Administration's Single-Family Outlook report. The FHA states slightly more than 115,000 loans were issued during the month — nearly 60,000 fewer than a year earlier and down more than 15,000 from June. Total volume […]

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Report: Credit unions put less ‘squeeze’ on consumers than banks

Credit unions are more consumer-friendly than banks are, according to the July Credit Power Index released by TheStreet. The index, produced by TheStreet's Rate-Watch and MainStreet divisions, shows the difference between interest rates paid on deposits versus interest rates charged on loans — referred to by the firm as the "squeeze" — is 5.5 percentage points less […]

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