Weekly Tips

Weekly Tips

House Hunting? Don't Forget About Your CU Ratio

As rates on 30-year fixed mortgages hover around 3.5 percent and home prices in many parts of the country are starting to dramatically rise, it may finally be time to take the plunge and purchase the home you've been saving for all these years.

If you're a first-time buyer that doesn't have to sell an old house before buying the new one, then you may be really excited about finally getting into the game. Those who can quickly qualify for a good mortgage in this lending environment will most likely be patting themselves on the back five or ten years down the road.

on Mon, 2016-07-25 15:12

Looking for a Loan? Think Small and Local

The "too-big-to-fail" banks have received billions in taxpayer bailouts, yet purse strings often remain tight.

on Fri, 2016-07-15 17:34

Will Student Loan Rehabilitation Fix My Credit?

Student loan rehabilitation is a process that allows those who have defaulted on federal student loans to make on-time payments for a set period of time in order to rehabilitate their loans and remove any default status from their credit reports. The program basically gives you a second chance to prove you can stay on top of your student loan debt.

on Wed, 2016-07-06 16:42

Closed by Consumer vs. Closed by Creditor

A closed credit card account will show up on your credit report as either "Closed by Consumer" or "Closed by Creditor". The words may not be exactly the same, but a close variation should easily be found on your credit reports. So, which one of these notations packs more of a punch when it comes to hurting your credit scores?

on Thu, 2016-06-30 15:20

Time to Ditch the Debit Card When Shopping Online

There are still way too many consumers out there that use debit cards to shop online. If you're one of them, listen up. It's time to finally ditch the old debit card and make sure you're protecting yourself by using a credit card instead!

on Thu, 2016-06-30 14:58

Avoid On-the-spot Signups for Retail Credit Cards

Retail credit cards can become a huge problem for those who find it difficult to just say no to the "get 10-percent off your purchase today" sales tactic. Remember that credit card companies are in business to make money, and the whole point of a retail credit card program is to get you to spend more money at a particular store than you would have in the first place.

on Mon, 2016-06-20 14:57

What Are the Risks of Co-signing?

If you haven't been asked by a close friend or family member to co-sign on a loan or credit card application yet, consider yourself lucky. Chances are you will be asked at some point in your life, so why not prepare yourself to give the right answer now?

on Tue, 2016-06-07 15:31

Will Shopping the Market Hurt My FICO Scores?

Are you ready to shop for the best deals on a home or auto loan?

While multiple inquiries at one time for your credit report information can theoretically hurt your credit scores, the fact is they probably will not drop too much.  If you are searching for the best interest rates on a home or auto loan, then it's definitely worth shopping rates with at least three different lenders at one time to make sure you get the best rate available.

on Wed, 2016-06-01 13:30

See What Income-Based Repayment Can Do For You

Are you struggling to keep up with your federal student loan payments? If so, a provision of the 2007 College Cost Reduction And Access Act, known as IBR (Income-Based Repayment), may be just what you've been searching for.

Although the law was passed in 2007, it actually took effect on July 1st of 2009 and is available to anyone with an eligible federal student loan. IBR essentially allows qualified borrowers to restructure student loan payments based on a formula that takes into account two major variables—level of income and the number of family members in their household.

on Fri, 2016-05-20 12:39

How to Avoid Foreign Transaction Fees

Foreign transaction fees are often as high as 4 percent and are charged by virtually all credit card issuers for purchases made overseas. How can you avoid them?

If you're like most world travelers these days, credit cards will be your preferred method of payment as you set out on your next adventure. So, take the time now to choose the right credit card and significantly reduce the cost of your next vacation or business trip.

on Wed, 2016-05-11 17:26

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