News That Matters

Tag: credit

5 Credit Card Myths Hurting Your Financial Future

Finance
[unable to retrieve full-text content]By Lawrence Sprung, CFP® Credit cards are a tool that many of us use in order to buy things in a convenient fashion, but they represent both convenience and risk. When used properly, credit cards can add value to our financial lives because they offer the ability to buy things now and pay later, build credit and Latest Articles in
Your credit score may have just gone up. Here's why.

Your credit score may have just gone up. Here's why.

Finance
Your credit report might be getting a makeover. And the three-digit credit score we all carry around, which can determine how likely we are to get a favorable loan to buy a house or a car, could be moving up as a result. The reason behind the potential boost is a change in the way the three major credit rating firms deal with negative credit information, including unpaid bills and debts. Some of new practices by Equifax, Experian and TransUnion include more updated reporting, such as noting when an overdue balance has been paid, along with the exclusi...
UK's 'no-deal' Brexit plans warn of credit card fees

UK's 'no-deal' Brexit plans warn of credit card fees

Business
Brexit Secretary Dominic Raab has set out what he called "practical and proportionate" advice in case the UK leaves the EU without a deal.The guidance includes instructions for businesses who could face extra paperwork at borders and contingency plans to avoid medicine shortages.Britons visiting the EU could also face extra credit card charges.Ministers say a deal is the most likely outcome but that "short-term disruption" is possible without one.BBC political correspondent Chris Mason described the publication as a "vast swirling porridge of detail - much of it at a technical level, advising individual industries about the manner in which they are regulated in the event of a no-deal Brexit".In the 24 documents, which cover indus...
Your credit score could mean as much as $45,000 in savings … or expenses

Your credit score could mean as much as $45,000 in savings … or expenses

Finance
Over your lifetime you’re going to need things you can only buy on credit. Big things. A house. A car. A dream vacation, or college tuition. Most people have to finance these things. And a lackluster score will make them more expensive, because you’ll pay more in interest. A survey from LendingTree shines a light on exactly how much a lower credit score can cost you over a lifetime. The site analyzed loan requests and average loan balances for an apples-to-apples comparison on wha...
FinMin wants banks to start issuing near field communication-enabled credit and debit cards

FinMin wants banks to start issuing near field communication-enabled credit and debit cards

Finance
BENGALURU: The finance ministry wants banks to start issuing near field communication (NFC)-enabled contactless credit and debit cards to their customers so that the government can expand the use of card payments beyond simple merchant transactions. In a letter marked to chief executives of banks, a copy of which was seen by ET, the ministry said that NFC or contactless cards are the next generation of innovation in the cards space which can bring about added security and convenience for digital payments, hence banks should start giving out such cards to its customers. “As and when cards need to be re-carded, then at that stage the new cards being issued can be NFC enabled/contactless and whenever new cards are being issued they could also be NFC enabled/contactless,” read the ...