How many credit cards should I have?
Credit cards can help you build a healthy credit history if you manage them properly. You may also benefit from rewards like cash back or points to be used for travel or other things you [...]
TransUnion News Archives
Paying the minimum on a credit card
When it comes to paying off your credit card balances, you have multiple options. Paying the minimum on a credit card can be tempting. Why pay more if you don’t have to? If times [...]
Your credit in retirement
Retirement can bring a renewed sense of freedom and, at the same time, uncertainty. How will you spend your days? Travel? Spend more time with family? Take up new hobbies? One area you don’t [...]
What is a balance transfer credit card?
If you’re struggling with rising credit card balances, you’re not alone. According to a recent TransUnion report, the average credit card debt per borrower in Q3 2023 was $6,088. Naturally, as balances [...]
What is credit utilization ratio?
Credit utilization basics Your credit utilization ratio is a percentage of how much credit you’re using compared to your total credit limit. It’s an important credit score factor, so knowing how to calculate [...]
How to prevent identity theft: 5 tips to protect yourself
78% of Americans are concerned about sharing their personal information online, according to our Q2 2023 Consumer Pulse survey. And it’s with good reason — that same survey found that 42% of all Americans have [...]
How to report fraud on your credit report
Monitoring your credit reports should be a staple of your financial routine, much like checking your bank and credit card accounts. Even if you rarely use the credit you already have or aren’t planning [...]
Student credit card considerations: Tips for young adults looking to build credit
There’s a lot to manage as a college student, between classes, homework and a newfound freedom that is as exciting as it can be disorienting. Financial freedom is yet another weight added to your [...]
Guide to credit score factors
For a quick measure of your credit health, your credit score is the place to look. Lenders may use it as part of their criteria when deciding whether or not to extend you credit. It’[...]
Three credit union market perspectives – Q3 2023
At a time when the economy remains in a state of flux and financial stresses persist, this article outlines three key observations from our recent credit union market perspectives report. Federal student loan payments are [...]
Forbearance and your credit
If you’re struggling to keep up with your bills and loans, you have options. Depending on your loan, your lender may have a financial hardship plan available to make your payments more manageable. Every [...]
Why can’t I see my credit score on my credit report?
Credit reports and scores are so closely related, you might think that where you find one, you’ll find the other. But that isn’t always the case: You won’t find a credit score [...]
Credit freeze vs lock: What’s the difference?
You may have heard about credit freezes and credit locks. But did you know there are differences between them? Both a credit lock and credit freeze block access to your credit report. They prevent anyone [...]
Does canceling a credit card hurt your credit?
Perhaps you’re wondering: Does canceling a credit card hurt my credit? It may seem counterintuitive, but closing a credit card can hurt your credit score in the short term. You may be less likely [...]
Three credit union market perspectives – Q2 2023
Delinquencies indicating potential coming performance issues on credit card portfolios and rising fraud attempts are among the headwinds credit unions are facing in Q2 2023. Here are three key observations from our latest credit union [...]