Student loan, like a car loan or mortgage, operates like and installment loan. The loan receiver repays the principal amount, with the calculated interest, over a certain time frame. Unlike our credit card account, which can be kept open for future use, once the installment loan is paid off, the account is closed. Your-to-income ratio,… Read More How do student loans affect your credit score?
A better credit score can have a meaningful effect on your life. After all, a huge part is played by your credit score in determining the interest rate on your mortgage, car loan or student loan. Your credit score is also evaluated by potential landlords and employers. Maintaining a comfortable life can be very difficult… Read More Good Credit Habits YOU Need to Have
In this day and age, every business is trying to incorporate new and improved features, tidbits, benefits to attract the ever-rising consumers of today. Just the same way, banks have incorporated special benefits along with the credit cards they offer. The credit cards offered by the banks have a lot of rewards attached to them… Read More 5 MORE Credit Hacks
The average U.S. household carries $5000 debt in credit card balance, according to report of 2016 data by the Federal Reserve. Unfortunately, there has been a number of myths which misguides consumers when it comes to sound financial practices. The top five myths about your credit score are underlined below: MYTH 1:The government owns the… Read More 5 myths about your credit
You might have questions like what is an auto loan? why you ‘ll need an auto loan? What kind of auto loan you can be eligible for and what terms you can be offered? If you’re looking to buy an automobile and you have a plan to finance your vehicle, then you’ll have to consider your credit… Read More Average Auto Loan Interest Rate According to Credit Score
According to research data collected from the official Mortgage Bankers Association, the share of mortgage loans that were delinquent nearly around 90 days or more past due or in the process of foreclosure averaged 1.7% from 1979 to 2006, with a low of about 0.7% in 1979 and a high of about 2.4% lately in… Read More The growing difficulty of getting a mortgage
Borrowing money on a credit card is expensive. Nearly 44 percent of credit card holders carry balances despite the cost value. A significant burden for U.S. households is represented by borrowing financing credit card . it was reported that the average debt level by individuals with card balances was around $5,000 in 2004 dollars, financed… Read More How to get rid of $5000 credit card debt
Information about consumers and their credit experiences, such as bill-paying histories, outstanding debt, numbers and types of accounts, the age of accounts, and collection actions, is basically collected from a consumer’s credit application and credit report. Creditors compare this information to the credit performance of consumers with similar profiles using a statistical program. The credit… Read More Credit score ranges explained
Nowadays, you can buy anything through the help of credit cards. From small products such as bottles, food, appliances, to big things such as cars, houses, and much more. But there are many people who do not have the necessary balance to put them in a place to buy a house or a vehicle in… Read More Your mortgage credit score might be lower than you thought
Managing your credit through financial hardship Due to this pandemic, millions of consumers and businesses are facing very tough times regarding finances but it is very important that people stay in control of their credit in this stressful time. Below mentioned are ways to manage your credit through financial hardship in this covid-19 pandemic and… Read More How do you manage your credit through financial hardship?