News 

Your credit score may have recently gone up—here’s why

“Last year, major credit reporting companies announced a plan to overhaul how negative information is handled on credit reports” writes Caiaimage Paul Bradbury for cnbc.com. Your credit score is a measure of how trustworthy you are in the eyes of financial institutions.Now, for many consumers, credit scores are going up, in some cases by more than 40 points, according to a report released this week by the New York Federal Reserve. Any negative payment information such as missed payments, public records (e.g. tax liens) and collections can impact the FICO…

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Markets News Stocks 

MORGAN STANLEY: The sell-off that has rocked emerging markets is far from over, and it’s headed for the US

“Paulo Whitaker/Reuters The recent slump in emerging markets could worsen and hit US assets, according to fixed-income strategists at Morgan Stanley” writes Akin Oyedele for businessinsider.com. Stay out of emerging markets, Morgan Stanley says.Investors flocked to emerging markets last year to take advantage of a rare period when many of the world’s economies were expanding at the same time — a phenomenon described as synchronous global growth.In fact, they’ve turned more bearish on developing markets in the wake of a sell-off that intensified last week as the Turkish lira crashed…

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Credit Karma Buys Online Mortgage Company

“Approved, the online mortgage platform company, announced Thursday (Aug. 16) in a blog post that it has been acquired Credit Karma” reports pymnts.com. In an interview, Credit Karma Chief Product Officer Nikhyl Singhal said getting into mortgages is a natural next step. “As we’ve expanded, you’ve seen us move from credit cards as a way to help members with that part of their life to first personal loans to auto — meaning auto loans, auto insurance,” he said. “Today, we’re really talking more publicly about mortgage. Mortgage being, for many…

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Markets News 

One trader lost $19 million on the Turkey turmoil — here are the winners and losers from the crisis

“Bloomberg also reports that a senior trader at Barclays lost around $19 million over the course of three days trading Turkish bonds” writes Will Martin for businessinsider.com. Other investors to be stung by the Turkey crisis include millennials using popular platforms like Betterment and Wealthfront.It added that its Turkish trading operation “represents a very small part of our overall credit business.”. Reuters; Reuters Markets have been gripped by the developing crisis in Turkey over the last few weeks.”Barclays has an established and diversified credit business with all our trading positions…

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News 

6 reasons why your credit score dropped

“If you close them, the pool of information that dictates your credit score will shrink, making you more vulnerable to credit report dings” writes David Lord for marketwatch.com. While your credit limit might seem like the number not to exceed on your credit card, experts actually recommend that to minimize negative credit impact, you should only be using 30% of your credit allowance.But fear not: there are a variety of perfectly good reasons why your credit score has taken a hit, and in this case, knowledge is power.This kind of…

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3 myths about what affects your credit score that FICO wants to clear up for you

“A credit score is a measure of how trustworthy you are to financial institutions” writes Yoni Blumberg for cnbc.com. Your score is calculated based on payment history, how much you owe, your length of credit history, the types of credit you have and how often you apply for new credit.A credit score in the excellent range, around 780, could save you more than $10,000 in interest over the course of a 30-year mortgage compared to a score that’s only 100 points lower.Among the many perks a high credit score provides…

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5 Celebrities Who Have the Biggest Influence on China’s Luxury Shoppers

“Fashion houses are banking on the attention: Dior appointed her as its first brand ambassador in China last year” writes unknown author for footwearnews.com. Yang Mi Age: 31 Michael Kors recently tapped the actress and singer as a brand ambassador, and for good reason.Here are five KOLs who have a major influence on Chinese shoppers, especially for high-street brands.To connect with luxury shoppers in China, brands and retailers are increasingly turning to the country’s KOLs, or key opinion leaders. “KOLs are the most effective product marketing here. Source: footwearnews.com Share This:

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News Regulators 

Credit collections have plunged after agency settlement with states, new study finds

“The number of collections accounts reported also dropped substantially, from more than 66 million collections accounts to about 47 million” writes D C for marketwatch.com. Among other things, credit-reporting agencies have to more frequently and accurately report collections as well as remove some medical bills.A third had some kind of delinquency in their credit accounts, compared to only 8% of everyone else.For one, the population that was impacted by these changes had lower credit scores to begin with.There’s been a plunge in the number of collections accounts after changes imposed…

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Millions of Americans are handling this ‘frightening’ financial issue all wrong

“Credit card use is now higher than ever, Transunion data reveal” reports moneyish.com. Debt is on the rise, as Americans spend big on nightlife and ‘personal passions’ We’re in denial about how our debt can wreck our future.And 25% of Americans say that credit cards are now their top source of debt, up from 19% last year, the Northwestern Mutual data revealed.What’s more, fewer people said they carry “no debt” this year compared to 2017 (23% vs. 27%).While Americans pay lip service to paying down their debt (more than half…

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Millions handle this ‘frightening’ financial issue all wrong

“Credit card use is now higher than ever, Transunion data reveal” writes Catey Hill for nypost.com. What’s more, fewer people said they carry “no debt” this year compared to 2017 (23 percent vs. 27 percent).And 25 percent of Americans say that credit cards are now their top source of debt, up from 19 percent last year, the Northwestern Mutual data revealed.We’re in denial about how our debt can wreck our future. Source: nypost.com Share This:

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