Why Do Companies Give Away Free Credit Scores?
There is no law that entitles consumers to free credit scores. But in 2013 the Consumer Financial Protection Bureau (CFPB) – the nation’s financial watchdog tasked with protecting consumers – began urging banks and other institutions to provide credit scores and other educational information to consumers. Credit Sesame beat them to the punch when it […]
Stop the Confusion: When to Choose Debit or Credit for Your Purchases
Now is a great time to look at your finances for 2017, reevaluate your budget and choose your financial strategies for the coming year. One question to ask is whether to use debit or credit. The Case for Credit Cards Credit cards offer many advantages. The first is that credit cards offer greater fraud protection […]
Credit Sesame’s Most Frequently Asked Questions on Facebook, Finally!
We get a lot of questions from consumers about the free services we offer, and how to improve one’s credit score. Credit health and education is an important part of life, so to help you better navigate through your credit journey, we’ve gathered a list of the most frequently asked questions from our Facebook page. […]
Survey: Love Conquers All? 1 in 5 Would Marry Someone With an Extremely Low Credit Score
How important is it that your significant other has a good credit score or is savvy with money? It’s no secret that roughly half of U.S. marriages end in divorce, and that money is commonly cited as the cause for the split. With this in mind, Credit Sesame polled 2,000 consumers with the goal of […]
How She Bounced Back Gracefully From Bankruptcy at 24
At just 24, Latoya Scott faced nearly $100,000 in debt. She owed $30,000 on credit cards, $7,000 for a car loan, $8,000 for medical bills, and $50,000 in student loans. “At 24 years old, having that amount of consumer debt was debilitating,” Latoya says. She even stayed in school, at least in part, to avoid […]
Pay Inequality in the Ridesharing World: Which Drivers Aren’t Making As Much Money?
Ridesharing companies like Uber and Lyft, enable almost anyone to make money as a personal taxi service. Uber has 40 million active monthly riders and Lyft has 3 million, clearly illustrating that drivers across America find profitability in rideshare driver work. Income discrepancies are real across the United States. Andrew Chamberlain, chief economist at GlassDoor, […]
We Ditched Our House and Moved Into a Bus! How Much Does That Cost?
A new year is time for many people to take stock of what they want from life and make new plans. Kayla, of lifestyle blog This Little Wandering, is on the cusp of a particularly dramatic change. She and her husband, Ben, sold their house last year and renovated an old school bus. They’ll be […]
Top 10 Cities Where Millennials Have the Lowest Credit Scores
Millennials are sometimes perceived as entitled and lazy, shirking responsibilities in favor of life in the here and now. Digging a little deeper, we see what a large role economic realities play in the lives of Millennials. This demographic entered the workforce during the Great Recession with high student debt loads, facing stagnant wages. Millennials […]
Is the Gender Wage Gap Getting Worse? Women Struggle With 21% More in Student Loans Than Men
You’ve heard of the gender wage gap. Women as a collective tend to earn much less than men (about 75 to 80 cents on the dollar). One way that women can close the gender wage gap is by investing in themselves through higher education. It seems women have really taken this bit of advice to […]
Bouncing Back from Identity Theft: How She Recovered from $250,000 of Fraud
Update: The Equifax data breach potentially affects 143 million Americans, and some of the data that may have been compromised include drivers license numbers, social security numbers and credit card numbers. Freezing your credit is the first step to protecting your accounts and your personal data. You can visit any of the credit bureau websites and freeze your […]
Is 700 a Good Credit Score?
Your credit score affects your financial life in more ways than one. When you apply for a loan or credit card, lenders base approval decisions in part on your credit health. Not only that, but your credit score can also influence the interest rates you’ll pay for credit cards, car loans, mortgages and other lines […]
Top 10 Cities Where Millennials Have the Highest Credit Scores
Millennials make up the largest generation in the nation. The strength of our economy is clearly linked to their purchasing power. However, large student debt loads and stagnant wages present obstacles to major milestones such as homeownership, raising a family or actively saving for retirement. A good credit score is important for securing low interest […]
President-Elect Trump vs. Clinton: Whose Voters Have Better Credit Scores?
Before the elections, we examined which supporters were more financially savvy, in terms of their credit and debt. This time, we’re interested in voter economics so we analyzed anonymous Credit Sesame member data in the context of the election and see a clear financial divide along political opinion lines. We examined member data from the […]
Credit Sesame Guide: How to Get Your Credit Ready for a Mortgage
Preparing for homeownership requires you to get your credit and finances in order and understand the buying process before you even start searching for the actual house or condo. Many Credit Sesame members sign up for our free service because they want to prepare for their first big purchase — a home. It’s important to understand […]
3 Crucial Ways Your Student Loan Repayments Could Change in 2017
Student loan debt is a well-known issue in the United States. The soaring cost of tuition and issues with income-driven repayment plans have left many borrowers between a rock and a hard place. We might see some light at the end of the tunnel. Several bills currently before Congress could significantly alleviate many of the […]
