More consumers using credit for buying

For the past several years, credit card use among consumers has plummeted. But according to data from a payment processing company, it's back in vogue. "Credit is back in favor," Silvio Tavares, senior vice president for First Data, told CNNMoney. "Consumers have spent the last couple of years de-leveraging and reducing credit card use, but […]

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Paying rent on time rarely contributes to credit score, but that may change

People who are conscientious about paying their rent on time may be under the impression that it's helping them build a solid credit score. But according to financial experts interviewed by the Washington Times, these types of payments usually don't contribute to establishing a strong score. "Rent payments are not typically reported to a credit […]

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Transaction prices for new vehicles rising

A new study indicates it's now a bit more expensive to buy a car in the U.S. According to price trend website TrueCar.com, the average transaction price for light vehicles in the U.S. in November was $30,317, a 4 percent rise when compared November 2010 when the average price was $29,154. Some of the cars […]

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Pending home sales jumped during Q4 2011

In a positive sign for the state of the housing industry, more people were buying homes during the last quarter of 2011, a new report confirms. According the National Association of Realtors, the pending sales index, which take into account home contract signings, rose 10.4 percent to 93.3 in October, a considerable rise from the […]

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Customer satisfaction improves when buying new car

Consumers are generally quite satisfied when they go about the purchase process for a new car, a new study indicates. According to global marketing information firm J.D. Power and Associates, on a 1,000-point scale, overall satisfaction averaged 648, improving 13 points when compared to 2010, when it averaged 635. Consumers' contentment was determined through a […]

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Black Friday sales boosted by early openings

A recent study detailed the spending trends consumers had as they went about their holiday shopping late last year. According to electronic commerce and payment processing firm First Data Corporation, a considerable amount of spending was done on Thanksgiving Day, as consumers appeared to have taken advantage of retailers opening their stores earlier than in […]

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Cyber Monday 2011 largest online buying day in history

During the recent holiday season, consumers shelled out a considerable amount of money on Cyber Monday, the Monday following Thanksgiving that is typically one of the busiest of the year for online shopping. According to digital marketing intelligence provider comScore, Cyber Monday spending reached $1.25 billion, a 22 percent rise compared to the year before, […]

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Subprime auto loans rise in third quarter

A new report indicates that auto lenders are increasing the number of loans they make available to consumers whose credit is less than stellar. According to Experian Automotive, nearly 22 percent of all new vehicles in the third quarter in the third quarter of 2011 were sold to customers with nonprime, suprime or deep subprime […]

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Consumer debt falls

A Federal Reserve study underscores that the recent improvements in the way consumers are handling their debts may actually have begun last year. The study demonstrated that the average amount of household debt consumers carried fell considerably between July and September. According to the Federal Reserve Bank of New York and its quarterly report on […]

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Massachusetts bans auto insurers from using credit for underwriting

A law was recently passed in Massachusetts that prohibits insurers from taking into consideration consumers' credit scores when determining auto insurance rates. The law, Charter 195 of the Acts of 2011, makes the ban on the practice official, but the prohibition on the use of credit for underwriting had already been in place as an […]

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