So far, 2024 has been a huge year for data breaches. There had already been more than 1 billion personal records compromised before the National Public Data breach that has been making headlines, according to Michael Bruemmer, head of global data breach resolution at consumer credit reporting company Experian. National Public Data, a background check … Read more
Glowimages | Getty Images You may have never heard of National Public Data, yet your personal information may have been compromised in the company’s recent massive data breach. The background check company, which is owned by Jerico Pictures Inc., recently released details of the breach after a proposed class action lawsuit alleged 2.9 billion personal … Read more
Most parents would take herculean steps to protect their children. But many overlook a relatively simple way to help shore up a child’s financial security: freezing the minor’s credit. This could be especially important in the wake of a major breach in which the Social Security numbers of myriad Americans might be for sale on … Read more
The average American does a pretty decent job managing their credit. But if you want to boost your credit score, it’s important to avoid falling for a commonly held myth: Carrying a balance on your credit card each month helps improve your score. “This is not true,” Tommy Lee, FICO’s senior director of analytics and … Read more
Cultura Rm Exclusive/twinpix | Image Source | Getty Images Home equity is near all-time highs. But tapping it may be tough due to high interest rates, according to financial advisors. Total home equity for U.S. mortgage holders rose to more than $17 trillion in the first quarter of 2024, just shy of the record set … Read more
Although Americans’ average credit scores recently dropped for the first time in a decade, many appear to be maintaining a relatively healthy score. The average credit score dipped by one point, from 718 to 717, according to FICO’s March 6 blog post. Your FICO and VantageScore credit score can fall anywhere between 300 and 850, … Read more
Consumers have been increasingly relying on credit cards to make ends meet, and it may be finally catching up with them. The national average credit score, which has steadily increased over the last decade, fell to 717 from a high of 718 in the beginning of 2023, according to a report from FICO, developer of one of the … Read more
With consumer prices still rising due to higher inflation, there is one way to save money that you may be overlooking: raising your credit score. Increasing your score from fair (580 to 669) to very good (740 to 799) may help you save $22,263 over the life of your credit and loans, according to a … Read more
Catherine Falls Commercial | Moment | Getty Images If you’ve noticed the cost of your car insurance policy has gone up, you’re not alone. Inflation takes some of the blame, but your credit score may have a role as well. The national average cost for full-coverage car insurance has gone up to $2,543 per year, … Read more
D3sign | Moment | Getty Images On-ramp period should protect your credit Generally, failing to make timely payments on debts, including your student loans, can damage your credit. Payment history accounts for 35% of your score, according to FICO. Typically, “missing just one payment can cause your credit score to drop by 50 to 100 … Read more
