A new report found the average American FICO credit score has dropped, primarily due to rising consumer debt and an increase in missed payments. Total credit card debt in the U.S. is more than one trillion dollars, which the Federal Reserve said is a record. I joined CBS Mornings to discuss.
Two new programs aim to give consumers greater access to credit cards and mortgage refinancing. I joined CBS This Morning to explain how they work and who would benefit most.
The company that turns your credit history into what’s known as a FICO score is updating how that number is calculated. These scores are used to determine whether you can receive a new credit card, or get a home or auto loan. I joined CBS This Morning to discuss a new report that shows the average U.S. FICO score hit an all-time high of 703 last year.
A recent creditcards.com survey found that a large majority of Americans with debt would not be willing to cut spending on either leisure travel or clothing and shoes by 50%. I joined CBS This Morning to discuss how these choices can impact your credit.
There will soon be a new way to calculate your credit score. The company behind FICO, the country's most widely used credit score, is launching the Ultra FICO Score early next year. It looks at cash accounts and banking behavior to determine if you are able to pay back a loan or credit card balance. I joined CBS This Morning to discuss what it could mean for your money.
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