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ScoreSense Market Report: Review of Q1 2023 Credit Activity & Consumer Sentiment Survey

News & Trends

May 2023 OVERVIEW During the first quarter of the year, we typically see a higher number of delinquent and derogatory accounts, possibly due to consumers splurging on holiday spending and falling behind on payments.  Current ScoreSense data shows that this trend continued into 2023.  As the number of delinquent and derogatory accounts rise, consumers are […]

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Consumer Survey: Consumers’ Financial Pulse and Summer Plans

News & Trends

To better understand consumers’ sentiments and spending behavior as the threat of a recession looms, ScoreSense conducted a survey on credit activity and consumer sentiment in April 2023. Overview of Findings: Consumers are concerned about a possible recession this year and are stressed financially due to inflation. They are using personal loans to help pay

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Error on Your Credit Report: Should You Dispute It or Not?

Credit Report Disputes

Credit scores and reports are vital tools for loan approvals and determining interest rates, but they aren’t always accurate. More than one-third of consumers found errors on their credit reports, which could affect their interest rates on credit cards and loans, according to a study conducted by Consumer Reports. If you’re one of the many

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Is Your Money Safe in the Bank?

Banking

Bank failures have made headlines recently, and it’s natural to wonder whether your money is safe in the bank. Silicon Valley Bank and Signature Bank both went under in recent weeks, while Credit Suisse and First Republic Bank have faced threats of failure. As interest rates remain high, additional banks could struggle, leaving consumers to

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