Alternative Data Frees Up Credit for 45 Million Americans

Some lenders are now looking to use alternative forms of data and newer methods of analyzing that data to assess an applicant’s creditworthiness. These innovations could expand access to credit, especially for people with thin credit histories. But like any innovation, there may be risks and unintended consequences, too.    People face barriers to accessing…

College Students Practice Responsible Credit Behavior — Wary of Credit Reports

Nearly 70% of college students have one or more credit cards, and a slightly higher percentage pay off their own balances in full each month.  According to a 2016 Equifax survey many college students are practicing responsible credit behavior, they are also less likely to take advantage of free credit reports. The survey found that…

Debt Zombies

Debt Zombies

With household debt including mortgages, credit cards, auto loans and student loans, at $11.65 trillion, according to the Federal Reserve Bank of New York, and consumer spending increasing $13.5 billion last quarter, it’s not a far reach to say that debt has gotten out of control for many consumers. Debt.com says it has turned consumers…