Loans – Money Crashers

Upgrade Select Visa Review 2024

Grant Sabatier — Tue, 09 Jan 2024 22:36:51 +0000

The Upgrade Select Visa may be a good option if you’re looking for a credit card that won’t nickel and dime you to death in fees or interest. In this Upgrade Select Visa review, I’ll help you understand how this credit card/personal loan works and how it can help improve your credit when used correctly.

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How Homeownership Affects Your Credit Score

Brian Martucci — Mon, 28 Aug 2023 17:00:00 +0000

The impacts of a mortgage appear as soon as you apply and continue until you sell or make your final payment. That’s why it’s important to understand exactly how homeownership affects your credit score and what you can do to minimize the potential negatives.

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8 Ways to Improve Your Credit Score After a Foreclosure

Brian Martucci — Thu, 27 Jul 2023 15:45:00 +0000

The worst part about foreclosure is losing your house, but the indirect financial fallout is pretty bad too. A foreclosure can cause your credit score to drop by 100 to 200 points, with much of the damage coming in the first two or three months after you first fall behind on your mortgage. If that’s

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11 Best Cash Advance Apps to Help You Make It to Payday

Grant Sabatier — Thu, 29 Jun 2023 11:00:00 +0000

If you need a little help before your next payday, these are the cash advance apps for you.

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How to Calculate Debt-to-Income Ratio for a Mortgage or Loan

Brian Martucci — Thu, 20 Apr 2023 21:20:00 +0000

Your debt-to-income ratio is the percentage of your monthly income that goes toward debt payments. While the math is easy, knowing what to put in the formula isn’t as simple. Learn how to calculate your debt-to-income ratio to keep tabs on how attractive you are to lenders.

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What Is an Auto Loan and How Does Financing a Car Work?

G. Brian Davis — Tue, 28 Mar 2023 21:00:00 +0000

Cars are expensive, so most buyers finance them. They use auto loans to do that. But an auto loan adds a new set of wrinkles to the already annoying car buying process. To avoid getting taken for a ride on your next car purchase, learn how auto loans work and how to avoid their pitfalls.

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APR (Annual Percentage Rate) — What It Is & How to Calculate It

Heather Barnett — Tue, 14 Mar 2023 13:00:00 +0000

Have you ever wondered what an APR really is? Learn how to calculate it and — most important — how to use it to compare the cost of credit.

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Credit Card Statistics — Debt, Fraud, Ownership & More

Brian Martucci — Fri, 10 Feb 2023 18:00:00 +0000

Are there more debit cards or credit cards in the U.S.? What's the percentage of credit card fraud? The answer to one of those questions will surprise you. Satisfy your inner nerd and find out how you compare with these credit card stats.

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Credit Card Delinquencies at 10-Year Low, Expected to Surge in 2024

Brian Martucci — Thu, 19 Jan 2023 16:00:00 +0000

The average American has more than $6,000 in credit card debt. That figure is climbing quickly as total U.S. credit card debt surpasses $930 billion, closing in on the all-time high set in 2019. The vast majority of people who carry credit card balances are current on their bills. Sure, they’re paying too much to

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Average American FICO Credit Score by State – The Best & Worst

Brian Martucci — Thu, 08 Dec 2022 18:00:00 +0000

Find out the average credit score in your state, how (and why) it compares to neighboring states, and how your friends' and neighbors' FICO scores have changed over time.

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Average Credit Card Debt in America – 10 Key Findings

Brian Martucci — Tue, 22 Nov 2022 19:32:25 +0000

Americans’ collective credit card debt balance hit $930 billion in Q3 2022. That’s a $43 billion jump from the previous quarter. The average cardholder now has more than $6,000 in credit card debt, closing in on 2019’s all-time high. But our debt burden isn’t equally shared. Most Americans have no credit card debt at all.

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What Is a Prepayment Penalty for Paying Off a Loan Early?

Heather Barnett — Thu, 10 Nov 2022 14:00:00 +0000

If your loan has one, you need to know what a prepayment penalty is, how to read the terms, and how to avoid them in the future.

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Student Loan Forgiveness Programs by State

Sarah Graves — Thu, 03 Nov 2022 04:11:00 +0000

The skyrocketing cost of getting a degree is starting to undermine the value of higher education. That’s especially the case if you, like most college graduates, had to take on student loans to get one. To ensure your degree is ultimately worth it, student loan borrowers can use any relief they can get from the

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BILL Spend & Expense (Formerly Divvy) Review 2024

Brian Martucci — Thu, 27 Oct 2022 13:01:22 +0000

BILL Spend & Expense is one of many business credit providers that helps small and midsize businesses tap cash when they need it most. It goes a step further with powerful spend tracking and expense management tools, too. It’s an impressive tool that every growing business should think seriously about adding. Oh, and BILL (formerly

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What Is a VA Home Loan – Mortgage Eligibility, Benefits & Limits

Brian Martucci — Sat, 22 Oct 2022 03:00:42 +0000

It’s a big decision to join the military. Members of the Armed Forces face a slew of risks to their physical safety and psychological well-being. They make many trade-offs in their personal lives as well, from frequent moves to new towns around the United States to overseas deployments that challenge even the strongest families. To help offset

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Income Sharing Agreements (ISA): A New Way to Pay for College

Amy Livingston — Fri, 21 Oct 2022 03:55:00 +0000

America’s young people are drowning in student loan debt. According to a 2019 report from the Federal Reserve, 55% of all people under age 30 who have attended college borrowed money to pay for it. The average American with outstanding student loans owes between $20,000 and $24,999 and makes payments of $200 to $299 per

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15-Year vs. 30-Year Mortgage — Comparison, Pros & Cons

G. Brian Davis — Wed, 19 Oct 2022 11:00:00 +0000

Buying a home comes with many decisions, among them the loan term you want. Should you choose a shorter loan term with higher minimum monthly payments or a longer loan term with smaller payments? Learn the differences between a 15-year and a 30-year mortgage, and the pros and cons of either option.

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Should I Buy My Leased Car? – Reasons to Say Yes (and No)

Brian Martucci — Mon, 17 Oct 2022 17:45:22 +0000

With used car prices higher than they’ve ever been, millions of leased-vehicle drivers are asking themselves the same question: Should I buy out my lease? There are several reasons buying your car at lease end is a good idea, though there are also times when it isn’t. Fortunately, the process is relatively simple. Your dealer

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What Is a HomeStyle Renovation Loan?

G. Brian Davis — Fri, 14 Oct 2022 13:30:07 +0000

Fallen in love with a fixer-upper? It could be time to take out a renovation loan, or rehab loan, to turn a dump into your dream home. HomeStyle loans rank among the best rehab loan options for new homeowners — here’s why.

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17 Ways to Pay for & Afford College Without Student Loan Debt

Melissa Batai — Fri, 14 Oct 2022 03:33:00 +0000

Attending college, while not essential, can give graduates a financial boost that will benefit them throughout their lives. The U.S. Census has determined that the average college graduate makes $19,550 more per year than the average high school grad. Furthermore, the Pew Research Center stated that even after deducting time spent not earning money while

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