When January began, I knew it was time to address something I had been avoiding: my credit card debt. When I finally totaled it, the amount shocked me—it was worse than I expected. I owed $29,357, and my monthly payments were edging close to $1,000. If I heard this story about someone else, I’d probably wonder, “How did that happen?” The truth is, it crept up on me. I wasn’t splurging on luxuries or living...

Credit is important in many facets of most of our lives. Having good credit increases the likelihood of qualifying to borrow money and receiving low interest rates, in addition to influencing decisions made by insurance companies, landlords, utilities, and employers. There’s no better way to monitor the state of your credit than by regularly reviewing your credit report, and fortunately, federal law guarantees you the right to free annual credit reports—but the credit bureaus now...

Economic conditions can vary widely among states. It’s difficult to get a complete picture of a given area without taking all the key factors into consideration. In the case of credit scores, knowing the average can help residents of a state see how they compare to their neighbors—and make it simpler for those considering a move to that state to learn more about how they’d fit in economically. It can also be a factor in...

One thing that improves with age is creditworthiness. A study of average credit scores by generation shows that every major demographic group has an average credit score that is better than the generation before it. In an analysis from the credit rating agency Experian, scores show a slow but steady climb from the youngest Generation Z consumers through millennials, Generation X, and the baby boomer generation. And best of all is the so-called Silent Generation....

Studies of average credit scores show substantial disparities among different racial and ethnic groups. This article looks at those disparities and some possible reasons for them. Key Takeaways Credit scores do not factor in age, race, income, or place of residence. Other factors used to calculate credit scores can disproportionately affect certain racial groups. Credit scores generally favor mortgage holders over renters. White-Americans have the highest average credit scores, followed by Hispanics and then Blacks....

Most people are probably aware of the income disparities between men and women. But is there a gap between men and women when it comes to lending and credit scores? This is a difficult subject to gauge thanks to changes in regulations made by the Equal Credit Opportunity Act (ECOA) of 1974. This law bars lenders from discriminating against groups based on factors like race, color, nationality, religion, sex, age, and receipt of public assistance....

Investopedia’s list of the best credit repair companies is based on in-depth research and robust data collection from 17 companies. We reviewed each company’s plan fees, dispute types, reputation, customer satisfaction, and more. This guide explains the categories and criteria we used to evaluate each company’s features and our scoring process for determining the best credit repair companies. Our editors and researchers independently evaluate all recommended products and services. If you click on the links...