Average Consumer Credit Scores on the Rise
As of September 10, 2019, consumer FICO credit scores hit a new high with the average, nationwide credit score increasing 11 points during the preceding quarter, according to the Washington Post.
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Consumer ID theft drops but problems persist
The number of identity theft incidences dropped in 2018 but the problem still persists for millions of consumers. According to Javelin Strategy & Research in its 2019 Identity Fraud Study, the number of people who fell victim to identity theft fraud fell from 16.7 million in 2017 to 14.4 million in 2018.
READ MOREWhat to look out for when taking out a short-term loan
Consumers often pursue short-term loans to get access to a little extra cash to get by when needed. While this type of borrowing is helpful, it’s important to understand how quickly these loans can spiral out of control if not careful. Before signing on the dotted line, always be sure to thoroughly understand how the short-term loan process and its payback terms work.
READ MOREIncreased credit card delinquency trends signal potential problems for consumers
Credit delinquencies continue to be a problem for a large number of U.S. consumers. A delinquency is recognized as a missed payment 30, 60, or 90 days past due.
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