See How High Interest Rate Is Killing You

Interest rate is more than a figure. What interest rate are you paying on your loan? When a financial institution advertises a credit facility, you will see something like “Interest rates range between 12% and 20%. The reality is that, only few people will get the loan at 12 per cent interest rate. In most cases, the loan will be given out at 20 per cent interest rate. The financial institutions usually have some modality for setting the interest rate that applies to individuals. Whatever the factor they consider, everything still bother about the credit risk of the person applying Continue ReadingSee How High Interest Rate Is Killing You

Effects of Late Payment on Credit Score

Have you ever considered what the effects of that late payment can have on your credit? If you are in the habit of making late payment, I will say that credit card is not meant for you. You may be asking ‘what is a big deal in it, after all you later paid up?’ Well, it is more than that. Before I start telling you the effects a late payment can have on your credit, it is important that I mention that late payment in this context is not restricted to credit cards alone, it covers other types of credits Continue ReadingEffects of Late Payment on Credit Score

Line of Credit and its Advantages over Credit Cards

Lines of Credit Versus Credit Cards. When seeking for funds, line of credit is an option one can give a consideration. I don’t know why line of credit seems unpopular as you hardly see people talking about it as such when compared to credit cards or other types of loans. One thing I have come to notice is that, financial institutions usually advertise products that give them high returns. This is reasonable of course. But as a consumer, that should send a message to you. If no financial institution is advertising lines of credit which is supposed to be a Continue ReadingLine of Credit and its Advantages over Credit Cards

Federal Student Loans: New Rates Effective 01 July 2017

U.S. Increases Federal Student Loans Rates. Many students are attracted to Federal Student Loans to finance their education because of the low rates the loans carry. There is no doubt that federal student loans have helped thousands of US citizens to pave their ways through university. If not for the loans, some of the professionals we have in the country today would have ended up school dropouts. However, the federal student loans are not without their cons. A lot of money which would have been used for other developmental programme is tied down to the scheme as the total student loans Continue ReadingFederal Student Loans: New Rates Effective 01 July 2017

Life Insurance Policy Mistakes You Should Avoid

Life Insurance Policy Pitfalls When it comes to life insurance policy, it may be very costly to make certain mistake. The problem with life insurance policy is that you may not be alive to witness or correct the mistakes which you might have made. So, prevention is better than cure, they say. Let me quickly take you through some of the mistakes people usually make with their life insurance policy. Choosing the cheapest life insurance policy   If you are searching for the cheapest life insurance policy, I will not say you can’t get it. But the problem is that, it Continue ReadingLife Insurance Policy Mistakes You Should Avoid