Latest News
My latest ramblings.
Enjoy! I definitely got important things to say
Recent Posts
5 Things In Your Credit Report You’ve Got To Know About
How much do you know about what’s in your credit report? Many people may be …Read More »
Key To Raising Your Credit Score Using Credit History
Believe it or not, credit history has a huge impact on your overall credit score. …Read More »
How Length Of Credit History Affects Your Score
The amount of time you’ve had credit makes a difference in your credit score. In …Read More »
Before Taking Out A Payday Loan, Look At These 3 Options
in Loans/by New Opportunity ProviderIf you had to choose between the two lesser evils: payday loans or installment loans, installment loans may be a better option. But when you need to borrow money, you will find the best deals on interest rates and fees elsewhere. Here are three better options to try.
These options may be tough if you have poor credit, but they are better than companies that offer installment loans and payday loans.
Don’t Fall Into This Dangerous Cycle
in Loans/by New Opportunity ProviderMaybe you know the dangers of payday loans and have decided to stay away from them. Maybe you were denied a payday loan and are looking for other alternatives. Whatever the reason is you’re not getting a payday loan, consider it to be for your ultimate benefit.
It’s important however, to be cautious of another option on the table called installment loans. One of the dangers of these types of loans is that they can create a vicious cycle of debt. One loan leads to taking out another one. Before you know it, you’re unable to pay for basic necessities. Here are two reasons why installment loans are so costly:
When you end up paying a lot of money to borrow money, you have less to spend on the things you need in the future.
Should You Use A Loan Store?
in Loans/by New Opportunity ProviderLoan stores are a particular kind of store set up for people who are vulnerable and tight on cash. Essentially, they lend people the money they need when they feel they have no other place to turn.
Never heard of them? They can be found in places such as strip malls or downtown lots. They are usually located in neighborhoods where the income level is low.
These stores offer a variety loans including title loans, payday loans, installment loans and check-cashing services. Don’t expect to borrow a whole lot. You can borrow anywhere between $100.00 and $500.00, which isn’t a whole lot of money.
Most of these companies make their money off of the origination fees and interest rates charged to customers. Before checking out one of these locations, please be aware they are expensive and their rates normally cost more than using a credit card.
3 Total Myths That Do Not Hurt Your Credit Score
in Credit Scores/by New Opportunity ProviderThere are several things that can hurt your credit score. Unpaid collection accounts, past due accounts, and short credit history are some of the few. But there are some things that people think will damage their credit score, but won’t. Here are three total myths people erroneously think will damage their credit score:
As long as you’re responsible and on time with your payments, you have no reason to worry about your credit score taking a hit for the reasons mentioned above.
What Really Affects Your FICO Score?
in Credit Scores/by New Opportunity ProviderEver wonder how your credit score is calculated? Although many companies are can gather your credit history and produce your credit score, there one major kind of credit score most lenders refer and that’s your FICO score. FICO scores range anywhere between 300 – which is really poor and 850 – which is really great. FICO doesn’t state what is considered a good or bad score. It only provides the score.
FICO scores are created and judged by the following:
Need Quick Cash? Personal Loan or Payday Loan?
in Loans/by New Opportunity ProviderIf you’re in need of a small loan, you may be wondering if you should try your luck with a personal loan or go for a payday loan. Often times, payday loans are appealing because they’re easy to apply for and can be done online from the comfort of your own home if you want. Plus, the approval process is quick, so you’ll usually see cash in your account within 24 hours. Depending on your income, you can get anywhere between $200 and $1000. But…the interest rates are astronomical and the payback periods are strict. You may find yourself having to take out another loan just to cover the fees.
Personal loan lenders usually aren’t excited about approving small loans. Plus, the process isn’t as quick as a payday loan. You may have to wait three and four days before hearing an answer. Also, your credit score has to be more impressive in order to get a personal loan. When you’re in need of quick cash, you may feel pushed to make hasty decisions. Be sure to take the time and weigh your options wisely.