Wood services – Woody House http://woodyhouse.org/ Tue, 13 Sep 2022 21:25:30 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://woodyhouse.org/wp-content/uploads/2021/10/icon-120x120.jpg Wood services – Woody House http://woodyhouse.org/ 32 32 How to qualify for $10,000 fast https://woodyhouse.org/how-to-qualify-for-10000-fast/ Tue, 13 Sep 2022 21:25:30 +0000 https://woodyhouse.org/how-to-qualify-for-10000-fast/ Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders, all opinions are our own. If you need to cover a personal expense, a personal loan might be […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders, all opinions are our own.

If you need to cover a personal expense, a personal loan might be a good option. Here’s what you need to know before getting a $10,000 personal loan. (Stock)

Whether you need to consolidate credit card debt, renovate your bathroom, or cover another major expense, a personal loan can be a good choice. If you decide to take out a loan, such as a $10,000 personal loan, be sure to carefully review your lender’s options to find a loan that best suits your needs.

Here’s what you need to know before getting a $10,000 personal loan.

Where to get a $10,000 personal loan

Here are some types of lenders that offer $10,000 personal loans:

Online lenders

An online lender is one of the most convenient options when it comes to getting a personal loan. These types of lenders offer small and large personal loans and often offer competitive rates to qualifying borrowers.

The funding time for online loans is usually a week or less, although some lenders fund loans the same or next business day after approval. This could make online lenders one of the best options if you need a fast personal loan.

Before taking out a personal loan, be sure to consider as many lenders as possible to find the loan that’s right for you. You can compare your prequalified rates from Credible’s partner lenders in the table below in just two minutes.

Banks and credit unions

You can also get a $10,000 personal loan from a traditional bank or credit union. This could be a good option if you prefer to apply for a loan in person – although you may also have the option of applying online, depending on the lender.

Although online lenders are convenient, banks and credit unions sometimes offer their own perks. For example, if you already have an account with them, you might qualify for a discount on pricing. Also keep in mind that because credit unions are non-profit organizations, they sometimes offer better rates and terms than banks or online lenders.

How to Apply for a $10,000 Personal Loan

If you’re ready to get a $10,000 personal loan, follow these three steps:

  1. Check your credit. Lenders will review your credit to determine how likely you are to repay the loan, as well as the rates and terms to offer you. Before applying, remember to check your credit so you know where you stand. You can use a site like AnnualCreditReport.com to view your credit reports for free. If you find any errors, dispute them with the appropriate credit bureaus to potentially increase your score.
  2. Compare lenders and choose a loan option. Be sure to compare as many personal lenders you can to find a loan that meets your needs. Consider not only the rates, but also the repayment terms and fees charged by the lender. After doing your research, choose the loan option that’s right for you.
  3. Complete the application and get your funds. Once you’ve chosen a lender, you’ll need to complete a complete application and submit all required documents, such as pay stubs or tax returns. If you are approved, the lender will have you sign for the loan so the funds can be released to you. The time to fund a personal loan is usually around a week, although some lenders fund loans much faster.

What to consider when applying for a personal loan

Be sure to consider the following factors when shopping for your $10,000 personal loan:

  • Interest rate – Personal loan interest rates generally range from 3.99% to 35.99%. However, the rate you receive will likely be influenced by your credit, the amount you want to borrow, the repayment term, and the lender you choose.
  • Costs – Be sure to check with your lender to determine what type of fees they charge. Some lenders charge origination fees for loan processing, while others may charge late fees or repayment fees for insufficient funds. It’s also good to keep in mind that some lenders may charge you a penalty for prepaying a personal loan.
  • Repayment Terms – Personal loan repayment terms typically range from one to seven years, depending on the lender. Your repayment term will affect your monthly payment and the overall cost of your loan.
  • Monthly payment – Your monthly personal loan payment is determined by your interest rate, loan amount and repayment term. Opting for a longer repayment term results in lower monthly payments, but adds up to more interest paid over time. Shorter repayment terms mean higher monthly payments, but you’ll pay less interest and pay off your loan faster.

Before taking out a personal loan, remember to consider as many lenders as possible. This way, you can find a loan that’s right for you. Credible makes it easy – you can compare your prequalified rates from several lenders who offer $10,000 personal loans in two minutes.

What credit rating do you need for a $10,000 personal loan?

Your credit score is an important factor when it comes to qualifying for a personal loan. This also has an impact on the interest rates you might get. As a general rule, borrowers with good credit – usually a score of 670 or higher – will qualify for lower interest rates than borrowers with bad credit.

To get approved for a $10,000 personal loan, you will generally need a credit score of 620 or higher, but keep in mind that some lenders are willing to work with borrowers whose score is lower than this. If you have poor credit and can wait to get a personal loan, it may be a good idea to work on build your credit so that you can benefit from better rates in the future.

How much will you pay monthly for a $10,000 personal loan?

The amount you will pay for a $10,000 loan will depend on the interest rate you qualify for as well as the length of your repayment.

For example, borrowers with credit scores ranging from 720 to 779 qualified for personal loan interest rates with an average of 11.04% APR when they took out a three-year loan through Credible in July 2022. For a $10,000 loan at that rate, borrowers would have a total repayment cost of $11,792.

In comparison, borrowers with scores of 640-679 were offered an average APR of 24.24% while those with scores of 600-639 were offered an APR of 29.01%. Borrowers who got these rates on a three-year loan would pay $14,169 and $15,088, respectively, for the same $10,000 loan.

As you can see, your credit score will have a major impact on how much you will pay for a $10,000 loan. Before getting a loan, be sure to consider the overall cost so you can prepare for any additional costs – you can estimate how much you’ll pay for a loan using Credible’s personal loan calculator.

If you’re ready to get a personal loan, take the time to compare as many lenders as possible to find the loan that’s right for you. You can do this easily with Credible – after filling out a single form, you can see your prequalified rates from each of Credible’s approved partner lenders.

Personal Loan FAQs

Here are some answers to some frequently asked questions about personal loans:

Can you get a personal loan with bad credit?

Yes, many lenders offer $10,000 personal loans to borrowers with bad credit. However, keep in mind that personal loans for bad credit usually come with higher interest rates compared to good credit loans.

If you’re having trouble getting approved, another option is to apply with a co-signer. Not all lenders allow co-signers on personal loans, but some do. Even if you don’t need a co-signer to qualify, having one could get you a lower interest rate than you would get yourself.

How quickly can you get a personal loan?

How quickly you can get a personal loan depends on the type of lender you use. Here are the typical funding times to expect:

  • Online lenders: Less than five working days
  • Banks and credit unions: One to seven business days

Online lenders are generally the fastest option – many offer approval decisions within minutes, which can help speed up loan funding time. Some online lenders even offer next day or same day loans if you are approved.

What can a personal loan be used for?

You can use a personal loan for almost all of your personal expenses (although some lenders may have certain restrictions). For example, you could get a personal loan to cover debt consolidationmedical bills, home improvementand more.

Keep in mind that you may not be able to use a personal loan to pay for business ventures or post-secondary education expenses. Be sure to read the terms first so you know how you can use your loan.

If you’re ready to shopping for a personal loan, remember to compare as many lenders as possible to find the right loan for you. Credible makes it easy – you can compare your prequalified rates from multiple lenders in two minutes.

]]>
Top 5 Loan Companies No Credit Check and Guaranteed Approval https://woodyhouse.org/top-5-loan-companies-no-credit-check-and-guaranteed-approval/ Fri, 09 Sep 2022 20:29:00 +0000 https://woodyhouse.org/top-5-loan-companies-no-credit-check-and-guaranteed-approval/ Disclaimer: This is sponsored content. All views and opinions are those of the advertiser and do not reflect the same of WFTS. Most lenders in the United States of America prioritize credit scores when determining your loan eligibility. Thus, many borrowers with bad credit history find themselves with limited options whenever they need loans to […]]]>


Disclaimer: This is sponsored content. All views and opinions are those of the advertiser and do not reflect the same of WFTS.


Most lenders in the United States of America prioritize credit scores when determining your loan eligibility. Thus, many borrowers with bad credit history find themselves with limited options whenever they need loans to meet various financial emergencies.

However, here are some online lending companies that offer credit products to applicants with medium to low credit scores. Check the list to find the best deal.

WeLoans – Best Bad Credit Loans for Instant Loan Approval

PAID CONTENT

WeLoans is a popular lending platform with credible lenders who can offer great credit deals to borrowers with bad credit history. These lenders determine your credit eligibility based on your ability to repay the loan on time, not just your credit scores.

The lending platform does not charge users any service fees or upfront fees when applying for a bad credit loan. Plus, you’re free to use the loan for any financial emergency you choose, unless otherwise specified by the lender.

With many lenders on the WeLoans network, you are likely to receive loan offers from different lenders. Compare interest rates, loan amounts, fees and repayment terms to choose the most appropriate credit offer.

Apply for a bad credit loan now through WeLoans to get financing within 24 hours.

Bad Credit Loans USA – Best Bad Credit Loans For Applicants With Bad Credit Scores

Best loans for bad credit

Paid content

Paid content

Get Bad Credit Loans No Credit Check Through Bad Credit Loans USA Now!

Problematic loans in the United States is a trusted lending company that automatically connects applicants with potential bad credit lenders. Most lenders don’t put your details through a rigorous credit check, which means your credit score will stay unscathed. You may be eligible for higher or lower loan amounts depending on the financial and personal information you provide when applying.

In addition, the lending platform is accessible via all internet-connected devices. The whole loan process is simple with little paperwork. Submit your loan application by completing the online application form on the company’s website.

CocoLoan – Best Bad Credit Loans for Fast Loan Decisions

Best loans for bad credit

Paid content

Paid content

CocoLoan will help you get fast financing, possibly within 24 hours. This company has partnered with legitimate US-based lenders who approve bad credit loans within minutes. Your credit score is also not an obstacle. If your financial records show that you can repay the loans on time, the lender could approve your application in minutes.

Bad credit loans come with flexible repayment terms. Additionally, lenders will give you a loan amount that you can comfortably repay with your current monthly income. According to your agreement, the monthly repayments of the loan will be automatically deducted from your salary.

Get instant access to bad credit loans with guaranteed approval through CocoLoan today!

iPaydayLoans – Best Bad Credit Loans for Funding Within 24 Hours

Best loans for bad credit

Paid content

Paid content

Many lenders on the iPaydayLoans make it easy to find loans tailored to your financial needs. This lending platform is compatible with most internet-connected devices so you can apply for loans through your smartphone, laptop, or desktop computer.

In addition, application requests will be automatically shared with all potential lenders. These lenders will review your personal and financial information and respond to you with offers of credit.

Although some lenders charge high interest rates on bad credit loans, comparing loan offers can help you find cheaper no credit loans. Bad credit loans have fixed monthly repayments, which is good for budgeting and planning your financial life.

Secure bad loans with no credit check in hours via iPaydayLoans.

US Installment Loans – Best Bad Credit Loans for an Easy to Use Lending Platform

Best loans for bad credit

Paid content

Paid content

Get bad credit loans for your emergency today with American Installment Loans.

Last on our list is the American Installment Loans, a lending company that has built an excellent reputation for helping applicants with poor credit scores access loans online. If banks or credit unions keep refusing your loan application due to bad credit history, it’s time to try your luck with US installment loans.

This lending company has a network of lenders with favorable terms for applicants with bad credit scores. All you need to do is spend a few minutes filling out the loan application form on the company’s website and waiting for feedback from lenders.

Loan services are available 24 hours a day, 7 days a week, so you can apply for loans at any time. Also, lenders give loan information within minutes. If your application is approved, you can receive your funds the next business day.

FAQs

Tips for spotting bad credit loan scams?

When shop around for bad loans online, you are likely to encounter scammers trying to take advantage of your financial situation. The following red flags will help you avoid these scammers;

Upfront payments: Ignore any lender who wants you to make payments before approving your loan application. Legitimate lenders deduct loan fees from the principal amount.

Unregistered lenders: Check to see if your potential lenders are registered and licensed to provide financial services in your state.

physical office: Credible loan companies list their physical address, email address, and phone numbers on their website. Also check if the lender’s website is secure.

Unethical Advertising: Scammers use dubious means such as frequent calls or even home visits, trying to trick you into taking out loans. If you come across such lenders, avoid them.

Are there bad credit risks?

Bad credit loans come with higher interest rates than other loans for applicants with good credit history. However, if you have a good loan plan, you will have no difficulty repaying the loan on time. More bad credit lenders Report to all three credit bureaus, which means failing to repay your loan on time will hurt your credit score.

How to get a better loan for bad credit?

The best way to get good credit is to improve your credit score. Building a good credit history is a process that involves paying off loans on time and reducing your income to debt ratio. Also, when you apply for a loan from the companies listed above, you can compare loan offers from various lenders and find a better credit deal.

Conclusion

Applicants with poor credit ratings are usually turned down by banks and credit unions whenever they try to apply for loans. They are left with few financing options, such as borrowing money from friends or selling some of their assets to obtain emergency funds.

However, the loan companies recommended above have made it easier for bad credit applicants to get loans. Check company websites, learn more about their loan services, and apply for bad credit loans.

]]>
How to Use a Personal Loan to Pay Off Debt https://woodyhouse.org/how-to-use-a-personal-loan-to-pay-off-debt/ Fri, 09 Sep 2022 19:29:27 +0000 https://woodyhouse.org/how-to-use-a-personal-loan-to-pay-off-debt/ Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. Debt consolidation can save you money and […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

Debt consolidation can save you money and help you pay off your debts faster. Learn how to use a personal loan to pay off debt. (Shutterstock)

Uncontrollable debt can strain your budget and leave you with little money after paying your monthly bills. If you manage multiple balances, a personal loan can be a valuable tool to help pay off your debt.

Consolidating high-interest debt with a personal loan can help you save money on interest and simplify your finances since you only have one payment to follow. Understand how personal loans can help you decide if it’s a good idea to use one to consolidate your debt.

Credible, it’s easy to view your prequalified personal loan rates from various lenders, all in one place.

What is debt consolidation?

Debt consolidation consolidates several debts into a single personal loan or credit card. Depending on your credit, you could pay less interest and lower your monthly payments while making it easier to manage your debt.

Generally, a debt consolidation loan is an installment loan with a fixed interest rate and a monthly payment. Most personal loans are unsecured, so you won’t have to provide collateral. Your eligibility will depend on your credit history, income, and debt-to-equity ratio, among other factors.

How to Use a Personal Loan to Pay Off Debt

To save money, you should only consider taking out a personal loan if the interest rate is lower than the rates on your existing debts.

You can take out a personal loan through a bank, credit union or online lender. When you apply to an online lender, they streamline the loan process so you can receive funds quickly, often the same or next business day. Loan amounts vary by lender, but generally range from $1,000 to $100,000.

When you apply for a personal loan, the lender may ask you to specify what you plan to do with the loan funds. Most lenders allow you to use a personal loan to consolidate your debts, but it is essential that you understand the terms of the loan, as some lenders may restrict how you can use the money.

If the lender approves your personal loan, financing is usually done in two ways if you are using the loan for debt consolidation:

  • Lump sum payment — You will receive a lump sum as a direct deposit into your bank account which you can use as needed. You can then use the funds to pay off all your existing debts.
  • The lender pays your creditors — Some lenders send direct payments to your creditors on your behalf.

If you are repaying the debts yourself, submit the repayment amount, not the minimum amount due or the statement amount. You will want to make sure that you bring your balance down to zero. You will then begin to repay the new personal loan with a fixed monthly payment.

Visit Credible for compare personal loan rates from various lenders, without affecting your credit.

Advantages of taking out a personal loan for debt consolidation

Here are some benefits of using a personal loan to reduce your debt:

Disadvantages of taking out a personal loan for debt consolidation

As with any credit product, it’s wise to consider its downsides before making a decision. Personal loans have a few disadvantages, including:

Other debt repayment strategies to consider

If a personal loan isn’t right for you, you can still pay off your loan principal faster—and save on interest charges—by making more than the minimum payments in your accounts. Also consider using these other debt repayment strategies:

  • Debt Avalanche Method — The debt avalanche strategy focuses on paying off debt accounts with the highest interest rates first. By prioritizing your payments to eliminate high-interest debt first, you could save more in interest.
  • Debt Snowball Method — This strategy involves paying off credit accounts with the lowest balances first to enjoy quick wins that build momentum and motivation.
  • 0% APR Balance Transfer Card — Transferring your debt to a balance transfer credit card with a 0% APR introductory period between six and 21 months is an effective way to pay off debt. Without the interest charges dragging you down, all of your payments during the promotional period will go directly to paying off your debt, minus the fees. Remember that if you still have a balance at the end of the promotional period, you will start earning interest at the card’s regular rate, which may be higher than a personal loan.

Whether it’s through a debt consolidation loan, a repayment strategy, or a balance transfer credit card, getting rid of your debt has its benefits. Living debt-free can leave you with less stress, more freedom, and the ability to focus more on savings and wealth.

If you want to apply for a debt consolidation loan, Credible allows you to quickly and easily compare personal loan rates to find one that meets your needs.

]]>
BBB study finds payday loan companies thrive amid uneven laws and stolen data – InsuranceNewsNet https://woodyhouse.org/bbb-study-finds-payday-loan-companies-thrive-amid-uneven-laws-and-stolen-data-insurancenewsnet/ Tue, 06 Sep 2022 11:43:11 +0000 https://woodyhouse.org/bbb-study-finds-payday-loan-companies-thrive-amid-uneven-laws-and-stolen-data-insurancenewsnet/ As consumers have lost their jobs and struggled to make ends meet during the COVID-19 pandemic, many have turned to payday loans and other short-term solutions, with an increase in solutions in line. This has not only allowed predatory lenders to thrive – many borrowers still face exorbitant interest rates and opaque fees – but […]]]>
As consumers have lost their jobs and struggled to make ends meet during the COVID-19 pandemic, many have turned to payday loans and other short-term solutions, with an increase in solutions in line. This has not only allowed predatory lenders to thrive – many borrowers still face exorbitant interest rates and opaque fees – but has also created a fertile environment for scam artists, according to a new in-depth study from the Better Business Bureau. (BBB).

Payday loan laws are managed from state to state among the 32 states in which they are available, and a complex web of regulations makes the impact of the industry in the United States and Canada difficult to understand. follow. The BBB study, however, finds a common thread in the triple-digit interest rates that many of these loans carry – camouflaged by interest compounded weekly or monthly, rather than annually, as well as significant rollover fees.

From 2019 to July 2022, BBB received nearly 3,000 customer complaints about payday loan companies, with a disputed dollar amount of nearly $3 million. In addition, over 117,000 complaints have been filed against debt collection companies at BBB. Complainants often said they felt ill-informed about the terms of their loans. Many fall into what consumer advocates call a “debt trap” of racking up interest and fees that can force customers to pay double the amount originally borrowed. A St. Louis, Missouri woman recently told BBB that over the course of her $300 loan, she paid over $1,200 and still owed an additional $1,500.

The scammers haven’t missed an opportunity to take advantage of consumers either, with BBB Scam Tracker receiving over 7,000 reports of loan and debt collection scams representing around $4.1 million in losses. Posing as payday loan companies and debt collectors, scammers use stolen information to trick consumers into handing over banking information and cash. In one case, BBB discovered that hackers had stolen and released detailed personal and financial data for more than 200,000 consumers. Reports say this is not an isolated incident

According to a report by BBB Scam Tracker, an Alabama man went online to apply for a loan. He got all kinds of responses, saying they even took people with bad credit. Eventually, he settled on one for $5,000, but was told he had to pay $100 in gift cards first. This happened a series of times where they told him that other reasons (credit increases, etc.) were needed to approve the loan. In the end, he said he lost $8,300.

Regulators at the federal level have passed tougher laws to combat predatory lending, but those regulations have been rolled back in recent years, leaving states to set their own rules on interest rate caps and other aspects of lending. on salary. More than a dozen states introduced legislation last year to regulate payday loans, but the landscape of legally operating payday lenders remains inconsistent across states.

Currently, payday loans are not allowed in 18 states, according to Pew Chartiable Trust. In addition, the Military Loans Act sets a rate of 36% on certain payday loans. When it comes to fraudulent behavior, law enforcement is limited in what they can do to prosecute payday loan scams. Some legal payday lenders have attempted to prevent scams by educating consumers about the ways in which they will or will not contact borrowers.

The BBB study advises consumers to thoroughly research all of their borrowing options — as well as the terms of a payday loan — before signing anything for a short-term loan. The study also includes recommendations for regulators:

Cap consumer loans at 36%

Educate more people about no-cost extended repayment plans

Require lenders to test whether consumers can repay their loans

Require Zelle, Venmo, and other payment services to offer refunds for fraud

Where to report a payday loan scam or file a complaint:

BBB.org/ScamTracker

● Federal Trade Commission (FTC) – ReportFraud.ftc.gov

● State attorneys general can often help. Find your state attorney general’s website to see if you can file online.

● If you have an overdue payment on a payday loan, the Consumer Financial Protection Bureau may have resources to help you set up a payment plan.

Source: BBB.org

Find more information about this study and other BBB scam studies at BBB.org/scamstudies. To report a scam, go to the BBB Scam Tracker. To find reputable companies, go to https://www.bbb.org.

]]> Start in college? Here’s why a student credit card is essential https://woodyhouse.org/start-in-college-heres-why-a-student-credit-card-is-essential/ Sun, 04 Sep 2022 11:00:29 +0000 https://woodyhouse.org/start-in-college-heres-why-a-student-credit-card-is-essential/ Image source: Getty Images Now is the perfect time to start building a good credit history. Key points Student credit cards are a good introduction to credit for students. If you get a student credit card and pay the bill on time, it can help you build a high credit score. The fall semester is […]]]>

Image source: Getty Images

Now is the perfect time to start building a good credit history.


Key points

  • Student credit cards are a good introduction to credit for students.
  • If you get a student credit card and pay the bill on time, it can help you build a high credit score.

The fall semester is starting again, so if you’re in college, it’s probably a busy time for you. Between moving into dorms or an apartment, enrolling in classes, and buying books, there’s a lot to do.

As you prepare for college life, there’s also a smart money move you can make right now. If you don’t have a student credit card yet, it’s worth getting one. By getting a student card and using it wisely, you can get a head start on building your credit score and maybe even get some extra perks in the process.

How Student Credit Cards Work

A student credit card is a type of credit card designed specifically for students. If you know how credit cards work, student cards work the same way.

When you get a student credit card, the card issuer approves you for a credit limit, also called a line of credit. This is the maximum balance you can have on the card. Student cards normally start with low limits, such as $500.

Each month, the card issuer sends you a credit card statement. Your credit card statement will contain:

  • Charges you made during this billing cycle
  • The statement balance, which is the total amount you owe
  • The minimum payment amount required
  • The payment due date

Here’s the key to using credit cards successfully — pay the full statement balance each month. When you pay in full, you pay no interest on your purchases. You only pay the actual cost of these purchases.

On the other hand, if you don’t pay in full, that’s when the card issuer may start charging interest. This basically means you pay extra for purchases you haven’t paid for. Some people only make minimum payments, but it takes a long time to pay off your balance and it costs you a lot of interest.

LEARN MORE: How does credit card interest work?

Why should you get a student credit card?

The main reason to get a student credit card is that it can help you build your credit history. Your credit history is what determines your credit score, a number that will have a big impact on your life.

For example, when you apply to rent an apartment, chances are the landlord will do a credit check. If you don’t yet have a credit score, you may need to find a co-signer, such as a relative with a high credit score, for your lease. Or, the landlord might require a larger security deposit.

This is just one example among many others. Your credit score also comes into play when applying for loans, such as car loans and mortgages. In most states, it can even affect how much you pay for car insurance.

If there is no information about your credit history, you will not have a credit score. It’s called being invisible credit, and it’s a problem for many people, especially young adults. No credit score means that lenders and other third parties have nothing to do when they check your credit.

But if you used a student credit card and paid on time, you won’t have this problem. Each time you pay your bill on time, the card issuer flags that payment in your credit history. Each is like a good grade, and over time, that positive activity adds up to a high credit score.

This is an important advantage, but it is far from the only advantage of a student credit card. Here are a few others you should know about:

  • A credit card is a safe way to pay for your purchases. Almost all credit cards offer zero fraud liability, meaning you are not responsible for fraudulent charges made with your card.
  • Some student credit cards offer rewards, such as cash back, on your purchases.
  • Many credit card companies offer free identity protection and credit monitoring to their cardholders. This allows you to stay on top of your credit score and credit file activity.

How to get a student credit card

The first step to getting a student credit card is finding the right one. If you have a bank account with a bank or credit union, check to see if they have student cards available. Some do, and it’s often easier to get approved for a credit card when you’re already a customer of the card issuer.

Otherwise, browse the best student credit cards and choose the one you like. Once you have found a card, you can apply for it online. Credit card applications ask for personal and financial information, including:

  • Full name
  • Date of Birth
  • Physical address
  • Phone number
  • E-mail address
  • Social Security number
  • Annual revenue

You will need some form of income to be approved for a credit card. However, it does not have to be employment income. If you receive scholarships or grants, or even an allowance from your parents, you can include this as income on your credit card application.

Credit cards have a mixed reputation in personal finance circles, and it’s true that bad credit habits can land you in debt. But when used responsibly, they are a useful financial tool. Your credit score is extremely important, so it makes sense to start working on it now.

The best credit card waives interest until 2023

If you have credit card debt, transfer it to this top balance transfer card guarantees you an introductory APR of 0% in 2023! Plus, you won’t pay any annual fees. These are just a few of the reasons why our experts consider this card a top choice to help you control your debt. Read our full review for free and apply in just 2 minutes.

]]>
How often can you refinance your car? (2022) https://woodyhouse.org/how-often-can-you-refinance-your-car-2022/ Thu, 01 Sep 2022 21:28:37 +0000 https://woodyhouse.org/how-often-can-you-refinance-your-car-2022/ Whether you want to take advantage of a lower interest rate or hope to change the terms of your loan, there are plenty of reasons to refinance your vehicle. But how many times can you refinance your car? We at the Home Media Review Team will explore the refinancing process here – when you can […]]]>

Whether you want to take advantage of a lower interest rate or hope to change the terms of your loan, there are plenty of reasons to refinance your vehicle. But how many times can you refinance your car?

We at the Home Media Review Team will explore the refinancing process here – when you can do it, how many times you can refinance your vehicle and if you should do it in the first place. Before refinancing your car, consider comparing the best auto refinance rates online to save money.

How often can you refinance your car?

You can refinance your car as often as you like, and there are no legal restrictions on how long you should wait before doing so. You will not encounter any law preventing you from refinancing your car at any time.

On the other hand, some problems could arise if you refinance too often. Drivers who extend their repayment periods over and over again risk having their loans reversed and could possibly hurt their credit ratings.

Potential problem: Owing more than your car is worth

Your loan is “upside down” if you owe more than your car is actually worth. This can happen if you don’t get a good interest rate or if you refinance too early when the car’s depreciation is greatest.

Auto loans can also be upset if you extend your refinance terms too often and end up with a much longer payment period. During the term of the loan, you will pay more than the value of the car at the beginning. With multiple refinances on the same car, you are more likely to end up with an upside-down car loan.

Potential problem: damage to your credit score

Every time you get a pre-approved car loan, your credit score could suffer due to serious investigation. Normally, your credit score will recover fairly quickly. If you complete another application within a month or two, your FICO score may remain lower than the first. This could make it harder to get approved for new credit cards, personal loans, or even mortgages.

Multiple requests of the same loan type within 14 days will only be added once, but after that the count usually starts over. If you’re on the line between two credit score brackets, you might actually start receiving more. car loan rate after several refinancings.

How long does it take to refinance a car loan?

You can refinance an auto loan as early as the business day after the initial transaction is completed. No law requires you to wait a certain amount of time before refinancing your car with a new loan. However, make sure you can actually get a lower rate by refinancing your existing loan or you could end up with harsh repayments in the long run.

If you bought your car new from a dealership, the salesperson may have told you to wait six months or a year before refinancing. Generally this is not true. Dealerships often receive commissions after you’ve made loan payments for six months, so they may be tempted to tell you not to refinance right away. It’s rare that drivers are contractually obligated to wait a certain amount of time before refinancing their vehicles.

Another issue to watch out for is prepayment penalties. Auto lenders in 36 states and the District of Columbia are allowed to charge drivers a fee for terminating auto loans with a term of less than 60 months. In addition to a prepayment penalty, those refinancing a new or used car could end up having to pay title fees.

Should I refinance my car loan?

People typically refinance their vehicles to save money by getting lower monthly payments. It’s best to refinance your vehicle when you get a better interest rate while keeping the repayment period about the same or shorter than your current car loan.

In other words, it makes more sense to choose a 48 month refinance loan than a 60 month loan if each option has a similar interest rate.

Increasing the remaining term of your loan to 60 months may give you a slightly cheaper car payment per month, but you could end up paying significantly more than your original loan. If you received a higher interest rate, cheaper monthly payments could still result in higher overhead.

If you carefully compare the best rates in the market, chances are that refinancing your loan balance is the right choice. The main exception concerns motorists who have already refinanced their car often in the recent past.

When to refinance a car loan

It’s a good idea to refinance your car if the following conditions are true:

  • Your credit score has improved and you can get a better interest rate
  • You find that your current lender or dealer gave you the wrong rate the first time
  • You can afford higher payments and want to shorten the term of the loan to save on total interest charges
  • A family member is willing to co-sign the loan for better terms
  • You are in a better financial situation and devote less income to paying off your debts

When not to refinance a car loan

Be careful and consider not refinancing your car loan in the following situations:

  • Your credit score has gone down and you will get a higher interest rate on the loan
  • You only have a few years left on your car loan
  • Your car is over 10 years old
  • You’re upside down on the loan
  • Your car loan has prepayment penalties in the contract

Our recommendations for car loan refinancing

Refinancing your car loan is often a fairly simple process that can be completed in a matter of hours. We recommend contacting credit unions in your area and considering the most reputable auto refinancers. Below are two of our top picks if you want refinance a car loan.

Automatic approval: first choice for refinancing

Starting Annual Percentage Rate (APR): 2.25%
Loan amounts: $5,000 to $85,000
Loan conditions: 12 to 84 months

Auto Approve is a marketplace where you can compare refinance offers from various online lenders. Borrowers with the best credit reports could find refinance rates as low as 2.25% through Auto Approve. Most customers have positive experiences with Auto Approve – the company has a 4.7 – out of 5.0 stars on Trustpilot.

Keep reading: Automatic Approval Review

PenFed Credit Union: Best Credit Union

From April: 4.24%
Loan amounts: $500 to $150,000
Loan conditions: 36 to 84 months

PenFed is our top choice for auto refinancing among credit unions. The financial institution usually offers exceptional rates for those with excellent credit scores, but borrowers with bad credit will likely be turned down. Reviews on Trustpilot mention courteous customer service agents and give PenFed Credit Union 4.6 out of 5 stars.

Our Methodology

Because consumers rely on us to provide unbiased and accurate information, we’ve created a comprehensive rating system to formulate our ranking of the best car loan companies. We’ve collected data on dozens of loan providers to score companies on a wide range of ranking factors. The end result was an overall score for each vendor, with the companies scoring the most points at the top of the list.

Here are the factors taken into account by our assessments:

  • Reputation (25% of total score): Our research team considered ratings from industry experts and each lender’s years in business to assign this rating.
  • Prices (25% of the total score): Auto loan providers with low APRs and high loan amounts scored highest in this category.
  • Availability (25% of total score): Companies that cover a variety of circumstances are more likely to meet consumer needs.
  • Customer experience (25% of total score): This score is based on customer satisfaction ratings and transparency. We also considered the responsiveness and helpfulness of each lender’s customer service team.

*Data correct at time of publication.

]]>
6 ways to raise funds immediately for an emergency https://woodyhouse.org/6-ways-to-raise-funds-immediately-for-an-emergency/ Wed, 31 Aug 2022 08:45:00 +0000 https://woodyhouse.org/6-ways-to-raise-funds-immediately-for-an-emergency/ If you need money fast, you may be wondering how to get it. There are several ways to raise funds quickly, depending on your situation. In this article, we will discuss six methods to get the funds you need right away. Keep in mind that some of these options involve borrowing money, so be sure […]]]>

If you need money fast, you may be wondering how to get it. There are several ways to raise funds quickly, depending on your situation. In this article, we will discuss six methods to get the funds you need right away. Keep in mind that some of these options involve borrowing money, so be sure to read the terms and conditions carefully and understand what you are signing up for.

Personal loan

A personal loan is an option for getting quick cash. You can apply for a personal loan via banks and financial institutions, or even through online lenders. Personal loan terms and conditions vary, so be sure to shop around and compare offers before deciding. The application process is usually quick and you can get loan approval within days. The downside to personal loans is that they often come with high interest rates, so be sure to shop around and compare rates before taking out a loan. It’s also a good option if you have bad credit, as personal loans are often easier to get than other types of loans.

Loan on property

It is a loan secured by your property, whether it is your house, land or commercial building. You can usually borrow up to 70% of the property value, and interest rates are relatively low. The downside is that you are putting your property at risk if you cannot repay the loan. This type of loan is ideal for people who have a lot of equity in their property and can afford to make the payments.

Short term business loan

This is a loan specifically for businesses, and it is generally of a shorter duration than a traditional business loan. Interest rates are usually higher, but you can get the money quickly and without as much paperwork. When you’re in a bind and need cash fast, a short-term business loan can be the perfect solution. These loans are generally designed for businesses that need to borrow a relatively small amount of money for a short period. There are several types of short-term business loans, so it’s important to do your research before applying. Try to find a loan with low interest rates and flexible repayment terms.

gold loan

A gold loan is another option for getting quick cash. You can use your gold jewelry as collateral to take out a loan, and the interest rates are usually quite low. The downside is that you’re putting your gold at risk, so if you can’t repay the loan, you risk losing your jewelry. Gold loans are best for people who have a lot of equity in their gold and can afford to make the payments. You can also sell your gold jewelry to get the money you need.

Sell ​​something

If you have something valuable that you can sell, such as a car, boat, or jewelry, this is another option for raising money quickly. You can usually get a fair price for your item by selling it through a classified ad or online auction site. The downside is that you won’t have the item once you sell it. This option is best if you have something you can part with and don’t mind not having it anymore. You can also try selling items you no longer use, such as clothing, furniture, or electronics.

Ask your friends or family for help

If you’re in a bind and need some quick cash, your friends or family may be willing to help. They can lend you money without interest or give you a low interest loan. The downside is that you might feel uncomfortable asking for the money, and it could strain your relationship if you can’t repay the loan. This option is best if you are sure you can repay the loan and you don’t mind putting your relationship at risk.

These are just a few of the options available to you if you need cash fast. Be sure to shop around and compare offers before deciding. And be sure to read the terms and conditions carefully so you understand what you are signing up for. With a little research, you should be able to find the perfect solution for your needs. Be sure to weigh the pros and cons of each option before making a decision. And remember, if you’re ever in a bind, there are always people who are ready to help you. Don’t be afraid to ask for help when you need it.


]]>
9 ways to improve your credit score before applying for a personal loan https://woodyhouse.org/9-ways-to-improve-your-credit-score-before-applying-for-a-personal-loan/ Mon, 29 Aug 2022 17:28:58 +0000 https://woodyhouse.org/9-ways-to-improve-your-credit-score-before-applying-for-a-personal-loan/ Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. You will likely need a good credit […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

You will likely need a good credit score to qualify for low personal loan rates. Here are 9 ways to improve your credit score before you apply. (Shutterstock)

If you have no credit history or if you bad credit score, you may find it difficult to qualify for a personal loan without a co-signer. Even if you are approved by yourself, a lender may charge you fees and a high interest rate.

But the good news is that your credit score isn’t set in stone. You can take several steps to boost it if it’s not where you want it.

Credible, it’s easy to view your prequalified personal loan rates from various lenders, all in one place, before formally applying for a loan.

9 ways to improve your credit score before applying for a personal loan

These nine strategies can help you improve your credit before applying for a loan. Personal loan. Which one is best for you will depend on your unique financial situation.

1. Pay all your bills on time

Your payment history is the most important factor that determines your credit score, accounting for 35% of your score. Paying off a debt on time can add a positive payment history to your credit reports, which can boost your score.

On the other hand, paying off your debt and other bills late can cause serious damage to your credit. To minimize your chances of missing a payment, consider signing up for automatic payment or using a spreadsheet to keep track of your due dates.

2. Get a loan to pay your rent

Paying your rent on time generally does not improve your credit score since payments are generally not reported to the credit bureaus. But you can use some third-party services to get credit for your rent payments.

You can do this by signing up for a service that reports your lease payment history to the credit bureaus (for a fee). If you are eligible, the company you applied to will contact your landlord to confirm your lease payments.

3. Become an authorized user

If you have a family member with excellent credit, consider asking them to add you as an authorized user on one of their credit cards. You may receive your own credit card, but the primary account holder will be the only person responsible for payments.

If the credit card issuer reports the primary account holder’s credit history on your credit reports, it may improve your score. But a potential downside is that if the primary account holder makes a late payment, it could damage your credit.

4. Get a secure credit card

A secured credit card is designed to help you establish or restore your credit. Unlike a traditional credit card, it requires an initial security deposit, which is often equal to your credit limit.

When you use the card, the credit card issuer typically reports your monthly payments to the three major credit bureaus – Equifax, Experian and TransUnion. If you pay your credit card bill on time, it could improve your score. Your credit card issuer may increase your credit limit or even upgrade you to an unsecured credit card after making a number of regular, one-time payments.

5. Apply for a credit loan

A credit loan is an installment loan that you can use to build credit. It works differently from a classic personal loan in that you do not receive your loan funds up front. Instead, the lender will deposit a small amount into a locked savings account and you will make fixed monthly payments to the lender for a certain period of time. At the end of the loan term, you will receive these funds.

As you make your payments, the lender reports them to the major credit bureaus. Making payments on time helps you build a positive credit history, which can help you qualify for a traditional personal loan in the future.

6. Find a co-signer

If you are having difficulty qualifying for a personal loan on your own or want a better chance of getting a low interest personal loan, consider asking a family member or friend with good credit to be a co-signer. Before someone agrees to co-sign your loan, make sure they know they will be responsible for repaying the loan if you can’t.

Making your monthly payments on time could boost your credit score. But late payments can cause significant damage to your (and your co-signer’s) credit score.

Visit Credible for compare personal loan rates from lenders that allow co-signers. Checking your rates won’t hurt your credit score.

seven. Monitor and dispute errors on your credit reports

If you have inaccurate negative information listed on your credit reports (such as a refunded account reported as overdue), it can negatively affect your credit score. For this reason, it’s a good idea to monitor your reports for errors at least once a year.

You can view your credit reports from the three major credit bureaus by visiting AnnualCreditReport.com. If you find an error, you can dispute it directly with each credit bureau, which includes it on your credit report. If the error is removed, it may increase your score.

8. Ask to increase your credit limit

Credit cards come with credit limits, but you can request a credit limit increase over the phone or online. If you are approved for a higher credit limit, it could lower your credit utilization rate and increase your credit score.

However, a potential downside is that some credit card companies do an extensive credit check to determine your eligibility for a credit limit increase. As a result, your score may drop temporarily.

9. Pay off existing debt

Your outstanding debt represents 30% of your credit score. Similar to increasing your credit limit, paying down your debt can reduce your credit utilization rate. Two strategies you can use to pay off debt faster increase your income and reduce your monthly expenses.

Another benefit of paying off your debt is that it can lower your debt-to-income ratio (DTI), which is your monthly debt divided by your monthly gross income. Although your DTI ratio is not a credit reporting factor, lenders often take it into account when applying for a loan. The lower your DTI, the better your chances of approval.

If you’re ready to apply for a personal loan, Credible lets you compare personal loan rates so you can find the one that best suits your needs.

]]> How to get out of your auto loan (2022) https://woodyhouse.org/how-to-get-out-of-your-auto-loan-2022/ Thu, 25 Aug 2022 19:28:15 +0000 https://woodyhouse.org/how-to-get-out-of-your-auto-loan-2022/ If you need to withdraw from your auto loan, there are things you can do. These include negotiating with your lender, refinancing your car, selling your car, or voluntary repossession. Be aware that many of them do not eliminate your car loan payment, but give you access to different terms and payment amounts. 1. Negotiate […]]]>

If you need to withdraw from your auto loan, there are things you can do. These include negotiating with your lender, refinancing your car, selling your car, or voluntary repossession. Be aware that many of them do not eliminate your car loan payment, but give you access to different terms and payment amounts.

1. Negotiate with your lender

When you’re in a tough financial situation, the first thing to do is call your lender and discuss your options. You are not the first borrower to go through difficulties. Lenders have policies in place for this, and you may be able to negotiate a break in payments, known as forbearance.

Your current lender may also be able to change your monthly car payment amount in hopes that you will return it later. It can help to show the reason for the difficulties and explain how you can make higher payments in the future.

Are there auto loan forgiveness programs?

Lenders are unlikely to completely cancel your loan unless you return your car (which we’ll discuss later). They can work with you on your payment size or due date, loan terms, or deferral instead. If you declare bankruptcy, you will have to return the car because the lender still has a lien on the vehicle even if the loan is cancelled.

Can someone take over my car loan?

Someone can’t just take over your auto loan with the exact terms you have. A minority of lenders allow car loan transfers, but the secondary owner must apply for the loan and be approved. If your lender won’t allow a transfer, which is likely, you may be able to refinance the loan in the other person’s name or have them co-sign a refinance loan and cover the payments.

2. Refinance your car loan

The second best option is to refinance your car loan. In an ideal situation, you can get a lower interest rate now than when you bought the vehicle. This way, you can get a lower monthly payment and save money on the refinanced auto loan.

However, you may not be able to get a better interest rate, especially if you are behind on your payments. You can still refinance your car with the same or even higher interest rate than before, but you’ll end up paying more for the car.

The advantage of refinancing is that you can get a lower payment and make your car loan a little more manageable. You will keep the car and you will have a new loan with new conditions. In many cases, you will also benefit from a short break in payments, usually between 30 and 90 days.

3. Pay off your loan

If it’s feasible for you, paying off your loan is one way to get out of your car loan and keep your credit score intact. Here are some ways to pay off your car loan early:

  • Pay the remaining balance in full
  • Make periodic payments above the required amount
  • Round your payment amount to the nearest $50 or $100 each month

What’s the best way to pay off a car loan?

If you want to pay off your car loan, make sure there are no prepayment penalties or that the penalties don’t exceed what you would save in interest. Paying the remainder of the loan in cash will save you the most interest, but you may also benefit from larger periodic payments.

4. Sell your car

Another way to get out of your auto credit is to sell your car. Ideally, you owe less than the value of your car and you can pay off the loan with the sale. Before listing your vehicle, contact your lender for a reimbursement amount.

If your lender is a bank, you may need to complete paperwork at a bank with the buyer. If you used an online lender, you may need to complete the sale at a partner bank’s location.

You’ll get out of your car loan once you pay off the lender and close the sale. If you are upside down on the loan, you will need to cover the negative net worth yourself or take out a personal loan to do this.

5. Opt for voluntary take-back

In some cases, refinancing your car may not be enough to get you out. To completely get out of your car loan, you can return your car to voluntary repossession.

Can you return your car to the finance company?

With a voluntary repossession, you give the finance company possession of your car. It’s better than a standard repo because you work with the lender to return a portion of what you borrowed through the value of the vehicle. However, this is not an ideal option because you are not repaying the loan in cash.

How to return your car without ruining your credit

Unfortunately, giving your car to the lender will hurt your credit. It won’t hurt your credit as much as a full repossession, but you’ll still take a hit. To have a better result, make sure you are not upside down on the loan. You may also get a better result if you can afford to pay off part of the loan when you return the car.

6. Last resort options

These last two options should be avoided whenever possible: default on the loan or file for bankruptcy.

Default on loan

If you don’t do anything long enough, you’ll simply be in default. This is the worst case scenario for a car loan. Default forces you to take no action and ignore calls from your lender.

Lenders do not want their customers to default. Although it’s difficult, we recommend that you answer the phone and work out some sort of agreement with the lender before it’s too late.

If you default, your credit will suffer a severe blow and will be affected for seven years. The lender can also repossess your vehicle depending on your situation. You will have a hard time finding another credit as long as this account is on your credit report.

File the balance sheet

You may consider filing for bankruptcy if your financial situation is dire. However, this will not automatically get you out of car loan debt. And if you get out of it, you risk losing the car in the process. A judge can grant relief in some cases, but every situation is different. We recommend speaking with a personal finance advisor to make the best decision.

]]>
I earned $20 more from my savings in July than in June. here’s why https://woodyhouse.org/i-earned-20-more-from-my-savings-in-july-than-in-june-heres-why/ Thu, 25 Aug 2022 12:32:48 +0000 https://woodyhouse.org/i-earned-20-more-from-my-savings-in-july-than-in-june-heres-why/ Image source: Getty Images It’s not because I added more money to my account. Key points The advantage of keeping money in a savings account is to earn interest on it. Interest rates have risen and many savers are reaping the benefits. Now might be a good time to upgrade to a higher interest account. […]]]>

Image source: Getty Images

It’s not because I added more money to my account.


Key points

  • The advantage of keeping money in a savings account is to earn interest on it.
  • Interest rates have risen and many savers are reaping the benefits.
  • Now might be a good time to upgrade to a higher interest account.

As someone who’s had a solid emergency fund tucked away in a savings account for many years, I’m used to earning minimal interest on my savings. But at the end of July, my monthly interest payment was about $20 more than it was in June. That’s a pretty big leap, considering I didn’t add any money to my savings account in July. Here’s why that payout has increased.

Interest rates are on the rise

Since the beginning of the year, inflation has taken its toll on cash-strapped consumers. The problem has become so severe that many people are piling up giant tabs on their credit cards just to cover the cost of essentials.

The Federal Reserve is desperate to slow the pace of inflation and is raising interest rates in an effort to induce consumers to cut spending. The logic is that if borrowing becomes more expensive, consumers will start to spend more cautiously. This could give supply chains a chance to catch up with buyer demand, ending the era of runaway inflation.

For one thing, higher interest rates aren’t good for consumers because they make everything from credit cards to HELOCs to personal loans more expensive. On the other hand, when the Fed raises interest rates, consumers don’t just get the small end of the stick. They also tend to enjoy higher interest rates on savings accounts. And that’s what happened to me in July.

Even though I didn’t add any money to my savings account in July, the amount of interest I received increased significantly. As a result, I closed the month with an additional $20 to my name compared to June.

Of course, that $20 in interest is kind of a mixed bag. Interest income you earn in a savings account does not belong to you tax-free. Rather, it is taxable income, which means that the IRS will receive a share of it. But still, if I have to keep money in a savings account, I’d rather earn more interest than less. And so all in all, I’m happy to finally see savings account rates go up.

A great way to take advantage of rising rates

If you have money in a savings account, it’s worth seeing what interest rate you’re earning on it, then digging to see how it compares to what other banks are paying. There may be an opportunity to raise your interest rate even further by switching banks.

In fact, online banks generally pay more interest on savings accounts than physical banks because they don’t incur the same operating costs. As such, now could be a good time to switch to online banking.

It’s also a good idea to keep an eye on interest rates over the next few months. The Fed is probably not done with its rate hikes, and if it keeps raising interest rates, savings accounts could start paying even more. This is a situation you will definitely want to track, to ensure that you are getting the best deal to store your money.

These savings accounts are FDIC insured and could earn you up to 19x your bank

Many people miss out on guaranteed returns because their money languishes in a big bank savings account earning almost no interest. Our choices of best online savings accounts can earn you more than 19 times the national average savings account rate. Click here to check out the top picks that landed a spot on our shortlist of the best savings accounts for 2022.

]]>