Q. Now that I am retired (six years, this year), how do I maintain my credit rating and the credit cards/spending limits that I have now? A couple of the cards have recently asked for “income re-verification” but have not demanded it, so I have not responded. I am afraid that if I report my reduced personal income, they will take away the cards or substantially reduce the card spending limits. I have no late payments and I pay in full every month.
New Jersey ranks 45th out of the 50 states and the District of Columbia for money management, according to a recent study which measured residents' average credit scores relative to median household income.
This may sound surprising, but more than one in three Americans have never checked their credit reports and 14 percent say they typically go more than a year between checks, according to a survey by Bankrate.com.
NEW YORK (AP) -- Millions more people will have free access to their FICO credit score this year. That's good news for consumers, since the number is widely used by lenders to check potential borrowers' financial health.
A recent survey from the Consumer Federation of America (CFA) found that less than half of Americans (44%) know what their credit score actually represents. Only 29% know how damaging a low score could be.