CU Scene

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Consumers Less Confident in Their Ability to Pay off December Credit Card Balances

Consumers Less Confident in Their Ability to Pay off December Credit Card Balances

Americans’ confidence in their ability to pay their monthly credit card statement balances in full dipped slightly in December, according to CompareCards’ monthly Credit Card Confidence Index. The Credit Card Confidence Index is a monthly survey intended to gauge Americans’ confidence in their ability to pay their cards’ bills in full now and in the future, […]

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Austin Credit Limits

Austin Credit Limits

A report released by CompareCards recently found that Austin saw the biggest credit card balance increase in the U.S., jumping 12 percent from September 2017 to September 2018. St. Louis and San Jose also saw double-digit growth, and San Diego and Orlando were close behind. CompareCards used user data from My LendingTree to compare the average credit card balance in the nation’s 50 largest metropolitan areas. The data […]

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Auto Lenders Want You to Love Their Apps

Auto Lenders Want You to Love Their Apps

A well-designed mobile app has become one of the most critical drivers of customer satisfaction with auto lenders. According to J.D. Power 2018 U.S. Consumer Financing Satisfaction Study, a growing numbers of auto loan customers are interacting with their lenders via a mobile app, and when they do overall satisfaction surges. Here are key findings of […]

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The Cost of Fraud Rises for U.S. Lenders, according to LexisNexis

The Cost of Fraud Rises for U.S. Lenders, according to LexisNexis

Fraudsters continue to hit large digital lenders hardest, causing escalating fraud costs and difficulties, according to a new study from LexisNexis Risk Solutions. Of course, we all pay these costs. The 2018 study, which surveyed 186 risk and fraud executives at various lending institutions, including mortgage companies, auto lenders, non-bank personal loan issuers, non-bank credit […]

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The Older Generations Are the Most Creditworthy, According to Study

The Older Generations Are the Most Creditworthy, According to Study

A new study from online loan marketplace LendingTree finds that older Americans tend to have the best credit scores. On average, members of the silent generation (the oldest cohort) have credit scores 100 points higher than those of millennials. Key takeaways Millennials and Gen Xers have, on average, “fair” credit scores. Baby boomers have “good” […]

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Average Monthly Payments for New Vehicles Reach Record Highs, Experian Finds

Average Monthly Payments for New Vehicles Reach Record Highs, Experian Finds

Many industry pundits expect new vehicles sales to continue their downward trend. According to credit bureau Experian’s State of the Automotive Finance Market Report released today, one reason for the trend may be the rise in loan amounts, monthly payments and interest rates for new vehicles. In fact, average new vehicle loan amounts and monthly […]

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New FICO Score Aims to Expand Access to Credit

New FICO Score Aims to Expand Access to Credit

There’s a new version of the famous FICO Score – one the company hopes will help expand credit opportunities to millions people whose consumer files were previously unscorable. Called FICO Score XD 2, the new score utilizes the most recent data from expansive data sources, ensuring the scoring results reflect current behavior trends. FICO Score […]

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Debit Card Fraud Is on the Rise

Debit Card Fraud Is on the Rise

There was a 10 percent increase in the number of payment cards compromised at U.S. ATMs and merchants in 2017, Silicon Valley analytic software firm FICO reports. The number of compromised card readers at U.S. ATMs, restaurants and merchants rose 8 percent in 2017. FICO’s data comes from the FICO Card Alert Service, which monitors hundreds of thousands of […]

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The Up-Side of Student Debt

The Up-Side of Student Debt

Millions of Americans are burdened with student debt. This burden causes many to put their lives off, delaying home-buying new vehicle loans and other credit-intensive activities. However, there can be an upside. According to analytics software firm FICO (of FICO Score fame), student loan borrowers can improve their FICO Score. FICO sampled 10 million scorable […]

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