Any business or individual who has to file for bankruptcy will definitely go to see a negative impact on their credit score. The reason is that the lenders rely on the credit score as one of the consideration for approval in loan and credit at any interest rate. The credit score normally ranges from 300 […]
Five Cs of Credit: Method for Evaluating Potential Borrowers
Financial institutions such as banks that provide loans and credits normally asked both individual and business borrowers to provide information related to their credit history, income and debt when applying for credit. They use the Five Cs system to evaluate the potential borrowers. The financial institutions as lenders, in particular, are eager to research and […]
What are the Differences between Demand Deposits and Term Deposits?
The term of deposits is often used in many financial institutions such as the bank. These are part of their products and services they offered. Bank deposit can be divided into 2 major categories, namely demand deposits and term deposits. In short, a demand deposit is a sum of money or fund given to the […]
What’s the Best Way to Finance a Car?
Desperately need a car? Buying a car is no simple decision. From buying outright to buying a car on finance, there are many options. You also have to consider running costs. In fact, it’s probably the second most expensive thing after a home. In addition to that, car value is depreciated like crazy over the […]
Credit Cards and Debit Cards: What are the Differences?
Both cards we used them in the daily basis and offer convenience in term of payment. The primary difference between a debit card and a credit card account is where the cards draw the money. A debit card takes it from banking account and a credit card charges it to the line of credit. Before going […]
Are Mortgage Rates Negotiable?
The direct answer to that is mortgage rates are always negotiable. The secret for negotiable mortgage rate is just a matter of convincing the bank, broker, or lender to take less commission. If you have a profile as a strong borrower, it means you have got good credit, plenty of assets, and the ability to […]
Fixed or Variable Rate Loan: Which One is Better?
Whenever taking loan, either house loan, student loan or any kind of loan, at least the term of fixed and variable loan often occur in the discussion. What are they? What the best among the two? Before going further, let us explore both terms. In fixed and variable rate loan, the difference is in the […]
What are Subprime Mortgages?
A subprime mortgage is a type of loan arranged for the individuals with poor credit histories with low credit rating. This loan is purposefully and normally issued by a lending institution for borrowers that cannot afford the conventional mortgage. The lending institution is often charged higher fees in a various way such as through higher […]
Make Money by Trading Index Options
Stock index options are options whose underlying is not a single stock but an index comprising many stocks. It increasingly gains popularity since it is been introduced in 1981. Investors and speculators trade index options to gain exposure to the entire market or specific segments of the market with a single trading decision and often […]
What is Certificate of Deposits?
A Certificate of Deposit (CD) is a saving certificate with a fixed maturity date, specified fixed interest rate and can be issued in any denomination aside from minimum investment requirement. CDs are generally issued by commercial banks, credit unions and thrift institutions. A CD restricts access to the funds until the maturity date of the […]
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