The Risk of a 401(k) Loan
A 401(k) loan is an easy and cheap way to borrow, and although that may be enticing, it’s also an incredibly risky move. These types of loans have incredibly low interest rates, meant to grab those seeking out a loan’s…
Utility Companies May Offer Loans for Energy Upgrades
Alaskan utility customers may soon find a pleasant surprise in the form of loans. For energy efficient upgrades and adding renewable energy systems, they will be paid back through their monthly bills. Known as “on-bill financing,” this is already done…
Rise in Long-Term Car Loans
There’s been an increased rise in people taking out long-term car loans. The Consumer Finance Protection Bureau says that 42 percent of auto loans given out in the last year carried payback rates of six years or more, compared to…
How Student Loans Are Negatively Impacting Marriages
Student loans are not just affecting recent grads, but they’re also crossing lines into ruining marriages. A recent report from Student Loan Hero showed that a third of borrowers said that student loan debt contributed to the disintegration of their…
Check Your FICO Credit Score for Free
Through sites like Credit Karma, the option to check your credit score for free has existed, however, it was for your VantageScore rather than your FICO score. Recently, though, Discover announced the launch ofCreditScoreCard.com where you can obtain your FICO credit…
What to Do When Bringing a Credit Card to College
Sallie Mae conducted a study in 2009 that showed that 84 percent of undergrads had credit cards. Then by 2016, 56 percent of students had credit cards. Here are some tips for those who are planning to bring credit cards…
Protecting Yourself From Credit Card Scams
These days, almost everyone has a credit card. And why not? They help you build your credit score and can help you with a monetary push. But since so many people have and use credit cards every single day, that…
Three Bad Reasons To Get A Personal Loan
Sure, there are lots of great reasons to get a personal loan – but what about those less-than-stellar reasons? The truth is, personal loans are not always the right financial choice. Read on to learn when to say ‘no’ to…
Beware That Longer Car Loan Term
Sure, that 84-month car loan may seem like a great idea when you’re smitten with a ride you can’t otherwise afford, but the consequences could be dire. In fact, delinquencies rise along with longer loan terms, meaning they’re becoming an…
Don’t Let These Ten Things Compromise Your Good Credit
A strong credit score is a commodity you’ll want to hold onto – after all, that three-digit number tells potential creditors a lot about your financial health. However, you may be unwittingly harming your score with these ten common mistakes….