Changes to credit scoring improve access to mortgages but don’t ensure loan approval.
New Credit Scoring Models: What You Need to Know A new credit scoring model is being introduced in the mortgage industry, which may significantly boost the number of Americans receiving credit scores. However, experts caution that just because your score seems better on paper doesn’t guarantee loan approval. Micah Smith, a credit repair expert and […]
Record holder uses credit cards to create holiday magic at Garden City
Winter Magic at Garden City Center CRANSTON, R.I. — A holder of a Guinness World Record added some winter wonder to the Garden City Center, all thanks to a credit card. Brian Berg and his team crafted a unique vacation village display over three weeks, utilizing green and black Citizen credit cards along with adhesives. […]
“I’m aware I need assistance.” I have a $43,000 debt with my credit card company, and I can’t pay it back. How do I handle this situation truthfully?
Question: “I have $43,000 in credit card debt and I can’t pay it anymore. But I really want to be debt-free. I know I need help. Where should I look and who should I talk to?” Answer: “A nonprofit credit counseling agency would be a great first step. They can help you negotiate with your […]
Credit expert embarrassed by Trump administration’s 50-year mortgage proposal for American homebuyers
Expert Voices Concerns Over 50-Year Mortgages Credit solutions expert Micah Smith, who founded Micah Abigail LLC, has expressed strong disapproval of the proposed 50-year mortgage plans introduced during the Trump administration. In an interview, Smith articulated her frustrations about the potential risks associated with these long-term loans. While the idea seems appealing—lower monthly payments stretched […]
Liz Weston: Poor customer service leads to the decision to cancel a credit card that’s been held for 44 years
Dear Liz: I came across your column discussing cardholders’ fears about canceling their cards. I thought I’d share my own experience. So, I ordered something online using my credit card, which I’ve had since 1981. Unfortunately, the purchase was fraudulent, and I spent hours trying to resolve it. When I finally managed to reach a […]
Credit Card Defaults, Balances, Debt, Credit Limits, and Collections in the Third Quarter of 2025
Despite concerns, credit card delinquency rates show improvement During the period of easy money, credit card delinquency rates dropped significantly. However, after that era came to a close, rates spiked, peaking in early 2024 before beginning to decline again. Delinquency rate over 30 days The Federal Reserve reported today that outstanding credit card balances across […]
Jeffrey Gundlach cautions about issues in the private credit market
Billionaire investor Jeffrey Gundlach has expressed concerns about emerging issues in the rapidly growing private credit market in the U.S., describing it as the “Wild West” of finance. He drew a parallel with the unregulated collateralized debt obligation (CDO) market that preceded the 2008 financial meltdown. As the founder and CEO of DoubleLine Capital, Gundlach—often […]
BECU reveals intention to partner with credit union in California
BECU Merging with California Credit Union BECU announced on Tuesday that it is merging with SAFE Credit Union, based in Folsom, California, which marks its first expansion into that state. This merger will combine their resources to serve a total of 1.8 million members and operate over 80 locations under the BECU name, amounting to […]
How a Visa-Mastercard legal settlement might result in your rewards credit card being declined
Visa and MasterCard Proposal for Settlement in Legal Dispute NEW YORK (AP) — Visa and MasterCard are working on a settlement in a lengthy legal battle with merchants and retailers over transaction fees for card acceptance. This settlement might significantly change how customers use their Visa and Mastercard credit cards, possibly leading to some consumers […]
Merchants’ ‘win’ against credit card fees will only make things more complicated for them.
Local Businesses and Credit Card Fees: A Complicated Relationship Is it really okay to grab a new shirt from a friendly little shop down the street? Well, you might want to brace yourself for an extra 2.5% financing fee just because you’re using a credit card. Eating out at a local diner? You might face […]