Average isn’t always average, is it?  If we look at the overall credit card debt without regard to income, education, and age, the average credit card balance is $3,600.  But that’s only per person for resident U.S. adults.  That includes people who don’t have a credit card and who have a Social Security Number reports […]

It’s called FICO 9.  That’s the descendant of FICOs 1 through 8, the credit scores spawned from the Fair Isaac Corporation, the credit-scoring company.  The FICO score, a number between 300 and 850 that many lenders use to judge the creditworthiness of prospective borrowers.  The higher the better for borrowers since a higher score can […]

“It’s not fair!” So goes the mantra of prospective employees and tenants who have been turned down for employment or renting because of poor credit.  Is it fair?  What I used to ask my children when they said that was “Why isn’t it fair?”  They stopped asking soon after that. Looking at the responses of […]