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How Do Credit Scores Work?

Credit Corp

When you borrow money, whether through a revolving account, like credit cards , or an installment account, like an auto loan or student loan , the information is gathered by the credit bureaus. The data the bureaus keep in your credit files is the date used to calculate your credit scores.

Lender 98
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Lawmakers take aim at credit card interest rates, fees as cardholder debt tops $1 trillion

Collection Industry News

Some lawmakers and regulators are calling for interest rate caps and lower fees on credit cards as debt levels march higher. Total credit card debt topped $1 trillion in the second quarter of 2023 for the first time ever. Federally chartered credit unions have an 18% limit. For example, Sen.