Posts Tagged ‘Lenders’

Credit Card Offers Return To Those Who Are Qualified

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Over the past few years we have witnessed a complete one-eighty in the way both credit card companies operate and the way consumers are using credit cards.  Prior to the recession, credit card companies were practically giving away credit to anyone and everyone regardless of their ability to repay the debt.  Consumers armed with easily obtained and in some cases excessive amounts of credit often made mistakes in the managing of that credit. Photo by Gothem City via Flickr When the recession hit, several things happened.  Consumers began to fall behind on credit card payments or found themselves unable to… Read the whole article...

1 comment - What do you think?  Posted by Robert Wilkinson - October 9, 2010 at 1:20 am

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What is a Good Credit Score?

In general, anything above 700 is considered a good credit score, but it’s not that simple. There are many different credit scoring systems with different scales — not to mention individual lenders have their own criteria. In short, a good credit score depends on the scoring system used and your particular lender. However, you can get a good idea of where you stand by getting your credit score and report. If you don’t know your credit score yet, lets get them now before we continue. Score Get from Cost FICO MyFICO.com $15.95 TransUnion Credit Karma Free Experian Quizzle Free All 3 CreditReport.com… Read the whole article...

1 comment - What do you think?  Posted by Robert Wilkinson - April 19, 2010 at 9:20 am

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Restore Your Fico Score – Part One

While obsessing over a FICO score is not a good idea, this is a number that will have a lot of bearing in your life. This number determines whether or not you will be able to get a house, a new credit card, or in many cases, whether or not you will be able to rent an apartment. Lenders and businesses are relying on FICO scores more than ever, and it is have never been more important to make sure that your score is where it should be. If you are just starting to build up your credit history,… Read the whole article...

1 comment - What do you think?  Posted by Robert Wilkinson - February 12, 2010 at 6:20 pm

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Avoiding Late Fees

The absolute last thing that we need right now considering the economy is unnecessary late fees. The average fee that is charged for a late payment by a credit card company is a surprising $39 dollars. But when you are literally living from one paycheck to the next and trying to juggle the due dates for so many different bills, sometimes these painful late fees can seem completely unavoidable. Not only do late fees add to your mounding debt, but they also put you at risk of an increase in your credit card interest rates, because falling late on… Read the whole article...

1 comment - What do you think?  Posted by Robert Wilkinson - February 8, 2010 at 10:20 am

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Surprise! Peer to Peer Lending is Risky

Earlier this week, Mark Gimein wrote a great article on TheBigMoney.com detailing, statistically, how risky person-to-person lending really is. I’ve always known it to be peer to peer lending or social lending, but the article calls out the riskiness of Prosper.com, the first and one of the largest of the peer lending networks. To look at the results of Prosper’s loan marketplace, though, is to see not a solution to the credit crisis, but a microcosm of it. Loans to unqualified borrowers; reliance on mathematical models that turn out to be a lot less useful… Read the whole article...

Be the first to comment - What do you think?  Posted by Robert Wilkinson - January 19, 2010 at 10:20 pm

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The Pros and Cons of Social Lending

Share This Photo: quaziefoto With faith in banks and credit card companies on the decline, more consumers are turning to social lending as an alternative to existing financial institutions for their borrowing needs. The worst offenders, credit card companies, have been lowering credit limits and increasing penalty fees and interest rates on even their most loyal customers. For this reason, frustrated credit card holders comprise one of the largest sectors looking into lending sites to refinance credit card debt. With interest rates as low as 7.8%… Read the whole article...

1 comment - What do you think?  Posted by Robert Wilkinson - January 6, 2010 at 10:20 pm

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30% Off FICO Scores at myFICO.com

Want to check your credit score to start off the new year? Here’s a current coupon for real FICO scores and all other credit products at myFico.com. Use the promotional code SURVEY30 to get 30% off and a FICO score for about $11, the best discount currently available: The code is good until December 30th, 2009 (although try it as it may still work even after that date). As a backup, you can also get 26% off with the codes DECEMBER26 or 26UNTIL2010 until 12/31/09. Experian no longer allows Fair Isaac to sell FICO scores to consumers at… Read the whole article...

1 comment - What do you think?  Posted by Robert Wilkinson - December 26, 2009 at 4:20 pm

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Borrow Money With Prosper & Lending Club

Earlier this year, I hosted a guest post by Jonathan sharing his experiences with borrowing money from peer to peer lending network Prosper. Just recently, I received the following email from a reader singing their praises: I’ve borrowed twice now from Prosper and I love it. The first loan was $7000 at 8.65% for three years and the most recent was $8000 at 9.65% for three years. I got the 2nd in response to the credit cards jacking up my interest rate and slashing my credit limit no reason. I was so angry about the… Read the whole article...

1 comment - What do you think?  Posted by Robert Wilkinson - December 22, 2009 at 6:20 pm

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