Browsing Month: April 2019

New Account Credit Card Fraud Up 24% In 2018

MoneyTipsWelcome to the 2018 Consumer Fraud Awards Show! We have a great show for you, with criminal activity galore. Tonight’s winners are chosen based on information from the Consumer Sentinel Network 2018 Data Book and brought to you by the Consumer Information Group at your Federal Trade Commission (FTC). Okay, there really isn’t a consumer fraud awards show – but it has been a banner year for fraud and identity theft reports. After a three-year decline from a peak of 1.526 million fraud reports in 2014 to 1.29 million in 2017, 2018 fraud reports shot up to 1.427 million….

U.S. Has Nearly 37 Million Active Personal Loan Accounts

MoneyTipsWhat was America’s fastest-growing type of consumer debt in 2018? You may think credit card debt, given that revolving debt has topped the trillion-dollar mark – but according to new data from the credit reporting agency Experian, personal loans had the greatest percentage growth last year. In 2018, outstanding personal loan debt grew by 11.9% to reach $291 billion. The growth rate of personal loans was double the growth rate of both credit card debt and student loan debt (5.9% and 5.8%, respectively). Personal loan growth rates nearly tripled the 4.3% increase in auto loans/leases and far outstripped the…

Top 5 Reasons For Personal Loans

MoneyTipsDo you whip out your credit card to take care of every large purchase? Maybe you shouldn’t. A personal loan may be a better alternative – but when would it be best for you? A recent finder.com survey explored the reasons why just over one-third (34%) of Americans took out a personal loan in the last year. Says Jon Brodsky, finder’s Money Expert, “With roughly 34% of Americans claiming to have taken out a personal loan in the past year, it’s important to have a clear understanding of when a personal loan is the right fit for you financially.”…