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A new report has revealed that children have their identities stolen 51 times more frequently than adults. Released by AllClear ID, an identity protection service, the report is said to be the first large child identity theft report ever published.
10.2 Percent of Children Have Identities Stolen 
By Odysseas Papadimitriou, CEO of CardHub.com, a website that helps consumers find the best credit card deals and operates the nation’s largest gift card exchange.
It’s easy to jump to the conclusion that the Credit CARD Act has led to higher interest rates, as many—including the American Bankers Association—have done. After all, it was a commonly predicted side effect of this reformatory legislation, and interest rates have risen since the CARD Act was signed into law in May 2009. But is there really a connection between the law and the rising cost of interest? Does the law’s passage represent the cause and the interest rate hike the effect? Or is this merely a coincidence that stands to distort the CARD Act’s legacy and distract from the true foundations of currently high interest costs?
When a lender looks at your credit score, he assesses your credit habits, your creditworthiness, your tendency to pay back debts, how responsible you are with credit and most importantly, what kind of risk you pose to his business.
Based on that assessment, he will decide whether or not to approve your loan, credit card or other line of credit. In return, he hopes to make money off of you without risking much of his own money.
Everyone experiences a financial emergency at least once in their lives, but not everyone is fully prepared to handle one. Whether it’s an unavoidable car repair or costly trip to the hospital, an unexpected cash need can sometimes require a personal loan to cover expenses until payday. However, what do you do if your credit score isn’t very good and it’s hard to secure a personal line of credit? You’ll likely need a no credit check personal loan to obtain the emergency cash required.
What Is a No Credit Check Personal Loan?
The Federal government kicked off the official start to National Consumer Protection Week on Sunday with hopes of educating consumers about the many ways to avoid identity theft, financial scams and more. While many individual states are hosting local events to celebrate the week, the government is providing resources consumers can take advantage of as they learn more about how to protect themselves.
What is National Consumer Protection Week?
Identity theft has become a major issue for foster children, which is why lawmakers in Colorado are pushing to protect them. As a part of a, already challenging system with enough hardship to contend with as it is, the Senate wants to make sure these children don’t also have to deal with poor credit as they enter adulthood.
Identity Theft a Major Problem Among Foster Children
A new warning from the Identity Theft Resource Center (ITRC) says thieves are now skimming RFID information in order to steal credit card and debit card information. According to the not-for-profit organization, identity thieves are able to harvest numbers and personal details from new debit and credit cards by brushing past a purse or wallet.
How is the New RFID Technology Scanned?
Back in 2009, FICO introduced an update of its credit scoring model called it FICO 8. However, it has taken more than a year for banks and other financial services providers to really adopt the FICO 8 updates. Here’s what you should know about the FICO Score changes:
What is FICO 8?
Banks were much more giving in 2010 than previous years when it came to giving out quality loans and credit cards, according to a new survey released by the Federal Reserve. In the survey, it was revealed that borrowers have gotten better about paying off their debts. As a result, banks gave out more loans last year and are expected to provide even more funds in 2011.
Lending Standards Are Loosening
Credit card rates could reach as high as 59.9 percent, according to a new CNN Money article that explored the one down side of the Credit CARD Act: Interest rates. The article revealed that credit card rates are now hovering at near-record highs, averaging as much as 14.72 percent. However, for new customers with poor credit, rates could soar significantly higher because this is one area that the act did not touch on.