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Money

The www.FedPrimeRate.com Personal Finance Blog and Magazine

Monday, December 04, 2017

California Housing Crisis

California Housing Crisis; segment by the good folks at Nightly Business Report:




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Thursday, October 26, 2017

401(K) Problem: Americans Aren't Saving Enough for Retirement

American's 401(K) Problem; segment by the good folks at Nightly Business Report:


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Thursday, September 14, 2017

Equifax Data Breach: Reason for Bizarre Credit Score Declines?

Seldom do I use my one and only personal credit card, provided by Citi®, so I was thinking that maybe the reason my TransUnion® and Equifax® credit scores, which use the VantageScore 3.0  scoring model, both experienced sudden and precipitous declines was because I was being penalized for:

  • Too Few Accounts Currently Paid As Agreed: FICO® Scores consider the number of accounts that are paid as agreed. Your score was impacted because the number of these accounts is too low, or because you've missed payments recently on some of your accounts.
  • No recent revolving balances: FICO Scores consider whether a person’s credit report shows recent balances on revolving accounts. Your FICO® Score was impacted because you are not currently demonstrating active revolving credit management.
 
Seems unreasonable to me that a consumer should be penalized for avoiding revolving credit, but that's the system folks (The above bullet points are from Citi / FICO / Equifax Bankcard Score 8.)

So, on a recent check, my scores bounced back to 800+.  A glitch in the system, or related to the Equifax Data Breach?


Credit Scores: TransUnion and Equifax VantageScore 3.0
Credit Scores: TransUnion and Equifax VantageScore 3.0

And my Citi / FICO / Equifax Bankcard Score 8 score skipped higher, from 820 to 822.


FICO / Equifax Bankcard Score 8 credit score
FICO / Equifax Bankcard Score 8 credit score

Click here for the latest news on the Equifax Data Breach.






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Wednesday, September 13, 2017

Hackers Can Use Your Mobile Phone Number to Steal Your Identity

How hackers can use your mobile phone number to steal your identity:



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Tuesday, September 05, 2017

Recent Test of AnnualCreditReport.com

So, according to both CreditKarma.com and CreditSesame.com, my VantageScore 3.0 credit scores from TransUnion® and Equifax® dropped more than 80 points, and for no reason.

Credit Scores: TransUnion and Equifax VantageScore 3.0
Credit Scores: TransUnion and Equifax VantageScore 3.0

So I visited www.AnnualCreditReport.com to check my credit reports from the 3 major bureaus: TransUnion, Equifax and ExperianTM:

  • TransUnion: I was able to access and download my credit report.  I found no problems.
  • Equifax: Fail; online delivery not available (see image below.)
  • Experian: Not available.


Equifax Fail; online delivery not available
Equifax: online delivery not available


Success with only 1 out of 3  www.AnnualCreditReport.comWhat's up with that?

I'm still investigating this.

Stopped by the Citi® website and checked my FICO® score there.  My Equifax® Bankcard Score 8 score was 820 out of 900.

I'll update this when I get answers. Stay tuned...

FICO / Equifax Bankcard Score 8 credit score
FICO / Equifax Bankcard Score 8 credit score


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Wednesday, July 05, 2017

UPS Shifts From Traditional Pensions To 401K Plans

For non-union employees, UPS will eschew traditional pensions and move to 401K plans, starting in 2023:

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Wednesday, June 14, 2017

Renting On The Rise Due To Surging Home Prices

From the good folks at Nightly Business Report: Rising home prices lead to increase in renting...

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