Credit history – KR2K http://kr2k.com/ Tue, 22 Nov 2022 05:23:01 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://kr2k.com/wp-content/uploads/2021/08/icon-150x150.png Credit history – KR2K http://kr2k.com/ 32 32 how to make sure your credit score is good enough https://kr2k.com/how-to-make-sure-your-credit-score-is-good-enough/ Tue, 22 Nov 2022 05:23:01 +0000 https://kr2k.com/how-to-make-sure-your-credit-score-is-good-enough/ Some of the biggest players in the buy now, pay later space might be taking a closer look at your application, as the latest push for tougher regulations might cause Afterpay to start credit checks. With the Buy Now, Pay Later (BNPL) platforms primarily appealing to young Australians who, as a group, are less likely […]]]>

Some of the biggest players in the buy now, pay later space might be taking a closer look at your application, as the latest push for tougher regulations might cause Afterpay to start credit checks.

With the Buy Now, Pay Later (BNPL) platforms primarily appealing to young Australians who, as a group, are less likely to have built up credit or even have a credit score, how can they ensure that their application is likely to be approved.

Fortunately, there are steps you can take to not only make sure your credit score is good enough to help increase your chances of being approved for a BNPL platform, but also to build a credit score from scratch.

BNPL hit by stricter regulations

For the past eight years, BNPL platforms have helped Australians pay for items large and small in regular installments with no interest charges (in most cases). Unfortunately, this has also created financial hardship, as late payment fees can accrue, especially when clients use multiple BNPL platforms at once.

The sector Buy now, pay later may soon transform into a more heavily regulated industry, including mandatory credit checks for new customers. The industry has been mostly self-regulating so far, with an AFIA Buy Now Pay Later Code of practice. Big players like Afterpay, Brighte, Humm Group, Klarna, Latitude, Openpay, Payright and Zip Co have all signed the code.

But some have argued that this does not go far enough to protect vulnerable Australians. Additionally, this code is voluntary, with major institutions like CBA, NAB, and PayPal yet to sign the code.

Due to these issues, a new Treasury document was released yesterday by Financial Services Minister Stephen Jonesoutlining three options for regulatory intervention in the buy now, pay later (BNPL) sector:

  1. Develop mandatory industry-specific code without the need for an Australian Credit License;
  2. Bring the BNPL sector under the Credit Act but enforce a more moderate set of responsible lending requirements; Where
  3. Bring the BNPL sector under the Credit Law and apply rules similar to those for credit cards and other loan products.

Afterpay plans to roll out credit checks in Australia

The appeal of BNPL platforms has often been their lack of high interest charges on purchases, which makes them a preferred method of payment for the youngest who have turned away from credit cards. And for many, it’s the ease of applying and the lack of traditional checks and balances, like rigorous credit checking of applicants.

As the pressure mounts, it is likely that some BNPL platforms will shift to either performing credit checks as part of credit risk mitigation or due diligence on clients, whether this either voluntarily or by law.

Afterpay has already started checking the credit of its customers in the United States, so adapting it to Australia could be its next step.

Michael Saadat, Head of International Public Policy at Blockwhich acquired Afterpay in February, said, “We started doing credit checks in the US on our Buy Now, Pay Later products earlier this year.”

“While we are confident that our product will work, given the diversity of the market and the drive to set minimum standards across the industry [in Australia]we can understand why the government would want to introduce something like this.

“All governments around the world are looking at a similar thing – a bespoke affordability assessment, which is not the same as a fully accountable lending assessment,” Saadat said.

Michael Saadat cautioned against the Treasury Paper’s third option (listed above), saying it was “using a hammer to crack a nut” and “and does not reflect how to buy now, pay later works”.

“No government in the world seeks to apply traditional consumer credit regulation to buy now, pay later without ensuring that regulation is proportionate and appropriate,” he said.

So how do you build your credit history and credit score?

Regardless of the outcome of yesterday’s Treasury document calling for tougher regulation in the BNPL sector, young Australians looking to apply for platforms like Afterpay may want to build their credit history and credit score.

A credit score is assigned to Australians aged 18 and over when applying for credit products. It is a measure of your “creditworthiness”; that is, your ability to repay your debts responsibly. The more positive behavior you show, such as paying your bills on time or repaying a loan, the better you turn to credit reporting agencies that assess your credit score.

Your first step should be to see if you already have a credit history or credit ratings. Luckily, you can check your credit score in minutes with helpful apps, like the RateCity Credit Score app.

If you don’t have a credit history or credit ratings, you might want to consider building it. After all, you have to start somewhere!

Steps to build your credit as a young Aussie:

You can’t just apply for a car loan at 18 and expect approval to try to establish credit. It may be easier to start with less risky credit products with less strict eligibility criteria. This can be done through utility plans, such as power and gas, or a phone plan.

  • Hop on your family’s utility bills

If you still live at home, you can have your household subscribe to a utility plan, such as power, gas, or water. This may be a lower risk option, as your family or household should already have gone through the approval process and be dealing with those refunds.

Typically, it’s as simple as calling the provider and asking them to add an additional person to the plan. You may need to provide identification, such as a driver’s license, and proof of income, such as a pay stub. Even if you’re employed on a casual basis, you can still hop on the utility plan because your family has already gotten approval and demonstrated they can handle the repayments without you.

  • Start your own phone plan

If you still have a prepaid phone or are on your household’s cell phone plan, it it might be worth branching out and starting your own. This process involves an assessment of your income and likely your credit history, so be sure to have verified that you have a credit scoreand pay a few utility bills before attempting this.

Keep in mind that signing up for a phone plan, or any credit product, comes with a level of commitment and requires financial responsibility. If you only subscribe to a phone plan to qualify for a BNPL platform, and you have not budgeted or planned ahead to meet your repayments, you could find yourself in serious trouble. financial difficulties or in debt.

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Research: Rating Action: Moody’s Confirms KT Corp’s A3 Ratings; outlook remains stable https://kr2k.com/research-rating-action-moodys-confirms-kt-corps-a3-ratings-outlook-remains-stable/ Thu, 17 Nov 2022 10:11:31 +0000 https://kr2k.com/research-rating-action-moodys-confirms-kt-corps-a3-ratings-outlook-remains-stable/ Hong Kong, November 17, 2022 — Moody’s Investors Service has affirmed KT Corporation’s A3 senior unsecured ratings. The rating outlook remains stable. “The rating confirmation and stable outlook reflect our view that KT will maintain its strong competitive positions and healthy financial leverage over the next 1-2 years,” said Sean Hwang, assistant vice president and […]]]>

Hong Kong, November 17, 2022 — Moody’s Investors Service has affirmed KT Corporation’s A3 senior unsecured ratings.

The rating outlook remains stable.

“The rating confirmation and stable outlook reflect our view that KT will maintain its strong competitive positions and healthy financial leverage over the next 1-2 years,” said Sean Hwang, assistant vice president and analyst at Moody’s.

“The steady increase in revenue from its core telecom and non-telecom businesses will offset the effects of the company’s growing cost base and partially debt-financed investments in its B2B and financial businesses,” Hwang adds.

RATINGS RATIONALE

KT’s A3 ratings reflect the company’s competitive strength as a fully integrated telecom operator with strong market shares in all major segments in Korea. The company also maintains strong liquidity and good financial flexibility, supported by its substantial liquidity.

These factors offset KT’s modest profitability compared to its similarly rated telecom peers, due to continued intense competition in the Korean telecom market, with a history of high marketing spend.

Moody’s expects the company’s revenue to grow around 3% annually over the next 1-2 years, from KRW 25.7 trillion in the 12 months to September 2022, supported by growing number of subscribers and average revenue per user in its wireless and multimedia businesses, as well as increasing non-telecom revenue.

This revenue growth is expected to offset increases in KT’s general operating expenses, such as salaries, and therefore keep its adjusted annual EBITDA stable at around KRW5.7 trillion-KRW5.8 trillion over the 1 to 2 years. next 2 years. KT’s Adjusted EBITDA in the 12 months ended September 2022 was slightly below KRW 6 trillion, including approximately KRW 0.3 trillion of one-time gains related to asset sales of the real estate subsidiary.

On the other hand, Moody’s expects KT’s reported consolidated debt (including lease debt) to remain broadly stable at KRW 11.6 trillion as of September 30, 2022. Moody’s expects the subsidiary KT’s financial institution, BC Card Co., Ltd., continues to expand its debt lending business, but its impact will likely be offset by KT’s use of excess cash and short-term investments to repay its incoming debt. due.

As a result, Moody’s expects KT’s Adjusted Debt/EBITDA to remain broadly flat at 2.2x, similar to the level for the 12 months ended September 2022. This projected level of leverage, coupled with the company’s ample cash , positions KT appropriately for his A3 rating.

KT’s adjusted debt/EBITDA fell from 2.0x in 2021 to 2.2x in September 2022 as the company’s consolidated debt increased to support its B2B investments, such as cloud, and the growth of its financial assets. BC Card. The weakening Korean Won also increased the reported value of KT’s foreign currency debt.

Environmental, social and governance (ESG) factors have an overall low impact on KT’s credit quality (CIS-2), reflecting the company’s low exposure to environmental risk and Moody’s view that KT’s good governance practices, as reflected in its conservative financial strategy, offset its moderately negative social risk exposure. KT’s exposure to social risks includes data security risks, occasional regulatory pressure on telecom charges, competition for talent in growing industries, and Korea’s long-term population decline. .

FACTORS THAT MAY LEAD TO IMPROVEMENT OR DEGRADATION OF RATINGS

Moody’s could upgrade if KT maintains revenue growth and improves margins; competitive and regulatory pressures in the Korean telecommunications market are waning; and KT maintains its prudent investment and financial policies. These developments could result in an adjusted debt/EBITDA below 1.8x or an adjusted EBITDA margin above 25% on a sustainable basis.

Moody’s could downgrade the rating if earnings from KT’s core telecommunications business decline due to an erosion of its market position, or due to intense competition or regulatory changes; or the company’s leverage increases due to aggressive debt-financed investments or shareholder distributions such that its debt/Adjusted EBITDA exceeds 2.5x and its Adjusted EBITDA margin falls below 20% constantly.

In addition, KT’s rating could come under downward pressure if its ability to continue its phone securitization program, as currently structured, becomes constrained as related borrowings are brought back to its balance sheet, which which would weaken its leverage.

The main methodology used in these ratings was that of telecommunications service providers published in September 2022 and available on https://ratings.moodys.com/api/rmc-documents/393391. Otherwise, please see the Scoring Methodologies page on https://ratings.moodys.com for a copy of this methodology.

KT Corporation is Korea’s largest integrated telecommunications service provider by revenue. It focuses on fixed telephony, broadband Internet access, data communication, mobile telecommunications, pay TV, leased line and satellite, as well as system and network integration services.

REGULATORY INFORMATION

For details on key rating assumptions and Moody’s sensitivity analysis, see the Methodological Assumptions and Sensitivity to Assumptions sections in the Disclosure Form. Moody’s rating symbols and definitions can be found at https://ratings.moodys.com/rating-definitions.

For ratings issued on a program, series, category/class of debt or security, this announcement provides certain regulatory information regarding each rating of a subsequently issued bond or note of the same series, category/class of debt, security or under a program for which ratings are derived exclusively from existing ratings in accordance with Moody’s rating practices. For ratings issued on a media provider, this announcement provides certain regulatory information relating to the credit rating action on the media provider and each particular credit rating action for securities whose credit ratings are derived from the support provider’s credit rating. For the provisional ratings, this press release provides certain regulatory information relating to the provisional rating assigned, and to a final rating that may be assigned after the final issuance of the debt, in each case where the structure and conditions of the transaction n have not changed prior to the final rating being assigned in a way that would have affected the rating. For more information, please see the issuer/transaction page of the respective issuer at https://ratings.moodys.com.

For all relevant securities or rated entities receiving direct credit support from the lead entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action , the associated regulatory information will be that of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to the jurisdiction: Ancillary services, Disclosures to the rated entity, Disclosures to be provided by the rated entity.

The ratings have been disclosed to the rated entity or its designated agent(s) and issued without modification as a result of such disclosure.

These notes are solicited. Please refer to Moody’s Policy for the Designation and Assignment of Unsolicited Credit Ratings available on its website. https://ratings.moodys.com.

Moody’s considers a rated entity or its agent(s) to participate when they have an overall relationship with Moody’s. Unless otherwise specified in the Regulatory Disclosures as a non-participating entity, the rated entity is a participant and the rated entity or its agent(s) generally provide information to Moody’s for the purposes of its rating process. Please refer to https://ratings.moodys.com for regulatory information for each credit rating action, displayed on the issuer/deal page, and for Moody’s policy on naming nonparticipating rated entities, displayed on https://ratings.moodys.com.

The regulatory information contained in this press release applies to the credit rating and, if applicable, the outlook or rating revision relating thereto.

Moody’s general principles for assessing environmental, social and governance (ESG) risks in our credit analysis are available at https://ratings.moodys.com/documents/PBC_1288235.

The worldwide credit rating on this credit rating announcement was issued by one of Moody’s affiliates outside the EU and is approved by Moody’s Deutschland GmbH, An der Welle 5, Frankfurt am Main. -le-Main 60322, Germany, in accordance with Article 4(3) of Regulation (EC) No 1060/2009 on credit rating agencies. Further information on the EU approval status and the Moody’s office that issued the credit rating can be found at https://ratings.moodys.com.

The worldwide credit rating on this credit rating announcement has been issued by one of Moody’s affiliates outside the UK and is approved by Moody’s Investors Service Limited, One Canada Square, Canary Wharf, London E14 5FA under the law applicable to credit rating agencies in the United Kingdom. . Further information on the UK endorsement status and the Moody’s office that issued the credit rating can be found at https://ratings.moodys.com.

Please see https://ratings.moodys.com for any updates on changes to the lead rating analyst and Moody’s legal entity that issued the rating.

Please see the issuer/transaction page at https://ratings.moodys.com for additional regulatory information for each credit rating.

The first name below is the primary rating analyst for this credit rating and the last name below is the person primarily responsible for approving this credit rating.

Sean Hwang
Assistant Vice President – Analyst
Corporate Finance Group
Moody’s Investors Service Hong Kong Ltd.
24/F One Pacific Place
88 Queens Road
Hongkong,
China (Hong Kong SAR)
JOURNALISTS: 852 3758 1350
Customer Service: 852 3551 3077

Chris Park
Associate General Manager
Corporate Finance Group
JOURNALISTS: 852 3758 1350
Customer Service: 852 3551 3077

Release Office:
Moody’s Investors Service Hong Kong Ltd.
24/F One Pacific Place
88 Queens Road
Hongkong,
China (Hong Kong SAR)
JOURNALISTS: 852 3758 1350
Customer Service: 852 3551 3077

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NetCashMan Christmas loans for bad credit to enjoy a wonderful stress-free holiday season https://kr2k.com/netcashman-christmas-loans-for-bad-credit-to-enjoy-a-wonderful-stress-free-holiday-season/ Mon, 14 Nov 2022 22:00:51 +0000 https://kr2k.com/netcashman-christmas-loans-for-bad-credit-to-enjoy-a-wonderful-stress-free-holiday-season/ Traditionally, during the holiday season, there is a lot going on. The holiday season brings with it a host of expenses, such as those associated with hosting gatherings and buying gifts for loved ones. Different surveys show that around 42% of Americans take out short-term loans to get through the season with less financial strain […]]]>

Traditionally, during the holiday season, there is a lot going on. The holiday season brings with it a host of expenses, such as those associated with hosting gatherings and buying gifts for loved ones.

Different surveys show that around 42% of Americans take out short-term loans to get through the season with less financial strain on their families. Our bad credit Christmas loans are there for you if you think you need extra financing to pay for the expenses associated with the upcoming holiday season.

What are Christmas loans?

Christmas loans are short-term, unsecured loans offered by direct lenders to help consumers pay for Christmas-related expenses. In other words, no collateral is required for this loan. Christmas loans can be used for almost anything, just like most personal loans.

You can get a vacation loan for up to $1,500, and the repayment period can range from a few days like a payday loan to 24 months like a personal loan. There are vacation loans that require you to repay the money all at once, and there are others that allow you to repay it in monthly installments over the term of the loan.

The application and approval processes for vacation loans are often very fast. Instant Christmas loans are available from several online lenders, with acceptance decisions often being made within 15 minutes and funds transferred within one working day. Therefore, if you have unexpected expenses during the holiday season, a Christmas loan could be a viable solution. This option is suitable for a cash advance in case of need.

Also, borrowers with good credit as well as those with bad credit can apply and be approved for Christmas loans. When deciding whether or not to grant a loan, a direct lender will focus more on the applicant’s income than on their credit score.

They also use alternative sources to verify your personal information instead of the three major credit agencies for credit checks. So even if you have bad credit, you can still get vacation cash advances without it showing up on your credit history.

What types of Christmas loans are available for bad credit?

Holiday loans are available from a variety of direct lenders to suit every borrower’s needs. You can borrow money short term or long term if you need more.

Installment loans

You might think of an installment loan as a balance between a personal loan and a payday loan, as they share many of the same key characteristics. You can borrow up to $1,500 with fixed monthly payments for up to 24 months. Therefore, installment loans are very similar to cash advances in terms of the time you have until you need to repay the money and the total amount you borrow.

Installment loans are ideal for people with bad credit because lenders often don’t do thorough credit checks or care if you’ve had any problems in the past with paying off debt. There are few formalities to go through and you can get your money the next business day.

Personal loans for bad credit

If you need money for Christmas but have bad credit, consider applying for a personal loan. Loan fees are due monthly during the loan repayment period. Since the monthly payment will be lower with a personal loan for bad credit, you will have much less financial stress overall.

Still, there are usually additional paperwork for a personal Christmas loan. Major credit bureaus are also used by personal loan providers to perform rigorous credit checks. However, although these payday loans are available for those with bad credit, the application process can still negatively impact your credit score. Also, if you have bad credit, a lender may charge you a higher interest rate and a loan decision may take days. Therefore, Christmas personal loans are not ideal if you need cash quickly.

Payday loans

Payday loans are short-term loans that can help you pay for urgent expenses, such as those related to vacations. The length of time you have to repay the refund is short, usually no more than 30 days and usually no more than until your next payday. You are required to repay the payday loan in one installment on the due date.

Since there are only a few basic prerequisites to qualify, a Christmas loan until payday is considered convenient. Since payday lenders don’t care about credit scores, people with bad credit can borrow money until payday.

Payday loan companies also offer fast cash deposits. Loan funds are generally available to borrowers the next business day and will be deposited directly into your bank account.

Benefits of unsecured holiday loans.

One of the easiest ways to pay your Christmas expenses is without a doubt to get a Christmas loan. Here are the main benefits of unsecured Christmas loans for people with bad credit:

Fast application process

You can get a Christmas loan easily and quickly online. Just fill out a online application and within minutes you’ll know if you’ve been approved for a loan.

Easy approval

Online loans usually have simple eligibility requirements. Most direct lenders accept people with any credit score and have no minimum credit score restrictions.

Direct deposit of money

You will receive the money deposited in your bank account the next business day or even earlier.

Flexible terms

You can select the product with the most convenient refund terms.

No collateral is needed

In the event of a problem, you do not risk losing your assets. Without a financial guarantee, your electronic signature is sufficient to obtain money.

Can anyone apply for Christmas loans for bad credit?

Any credit score holder is eligible to apply for a Christmas cash loan. Your credit score is not a determining factor, as lenders primarily consider the borrower’s income when approving loan applications. Therefore, if you can show that your income will cover the loan repayment, there is no need to worry.

Is a Christmas loan available for me?

Christmas loans are as easy to obtain as any other short-term loan. If you wish to apply, you must meet these minimum requirements:

  • Be at least 18 years old
  • Be a permanent resident or US citizen
  • Be employed within the last three months
  • Provide proof of stable income
  • Have an active bank account
  • Have a valid phone number and email address

How to apply for a Christmas loan for bad credit?

NetCashMan has a streamlined process provides you with a decision in minutes. We offer personalized service to help you through the loan process.

1. Easy Loan Application Form

Complete our online applicationit’s simple, fast and confidential.

2. Quick lender decision

After 30 minutes of approval process, electronic signature and full instant bank verification.

3. Get your funds

Funds will be deposited into your bank account the next business day.

How to minimize financial stress during the Christmas holidays?

Start planning your vacation early

A few months before Christmas, you should start saving money for the holidays. This will make it easier for you to effectively spread the cost of the vacation over a period of 2 or 3 months. This will reduce budgetary stress.

Have a plan for your money.

It’s important to include more than your monthly bills when determining how much money you need to live comfortably. In addition to letting you know where your money is going, the Christmas budget can also help you set realistic spending expectations.

Gifts don’t have to be expensive.

Inexpensive gifts are equally welcome. You can go with something comforting or be crafty. Gifts of this nature tend to be much more treasured and cherished.

Apply for an installment loan: www.netcashman.com/apply-for-a-loan

Media Contact
Company Name: net cash man
E-mail: Send an email
Country: United States
Website: https://netcashman.com/

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How long should I wait between credit card applications? https://kr2k.com/how-long-should-i-wait-between-credit-card-applications/ Fri, 11 Nov 2022 21:09:47 +0000 https://kr2k.com/how-long-should-i-wait-between-credit-card-applications/ Applying for multiple credit cards simultaneously can tarnish your credit and temporarily reduce your credit score. As such, it’s important to weigh the trade-offs between responding to any credit card offers that may land in your mailbox and maintaining good credit hygiene, especially if you intend to apply for a loan Where mortgage Short term. […]]]>

Applying for multiple credit cards simultaneously can tarnish your credit and temporarily reduce your credit score. As such, it’s important to weigh the trade-offs between responding to any credit card offers that may land in your mailbox and maintaining good credit hygiene, especially if you intend to apply for a loan Where mortgage Short term. While you can apply for one or two cards from different banks in the same period without damaging your credit too much, it will be difficult to get multiple cards approved from the same issuer within a few months. Read on to learn the pitfalls of applying for too many credit cards in a short time.

How long should you wait between credit card applications?

If you’re eager to get a new credit card, you might be tempted to apply for multiple cards at once to increase your chances of being approved. But don’t get too excited: Applying for multiple credit cards in a short period of time can hurt your credit score.

It’s best to wait at least 90 days — and preferably six months — between credit card applications. If you apply more often than that, issuers might see you as a riskier bet and reject your application. While you wait, you can still improve your credit score and increase your chances of being approved for your new card. You may be able to get away with applying more frequently if you have excellent credit.

How a credit card application can hurt your credit score

Apply for a credit card will trigger a thorough investigation of your credit profile. This means that each time you apply for a credit card, the bank will check your credit file with one of the three major credit bureaus, and the bureaus will take note of the application.

A single application may only shave a few points off your score, but multiple card applications over a short period of time could suggest you’re a riskier borrower than someone who applies less often.

Applying for credit cards can affect your credit score in several other ways.

If you have a short credit history or a small number of accounts, reapplying may pose more risk to the card issuer. However, getting a new unused credit limit can help reduce your credit utilization rate (the amount of your overall credit limit used), which in turn can help to improve your credit score.

You can check if you are pre-approved for a credit card to assess the chances of getting approved without hurting your credit score.

Ultimately, there are many combinations of scenarios that can have different effects on your credit score depending on your past financial behavior – and not all credit bureaus measure your credit score the same way.

When is the best time to apply for a new credit card?

If you want to save money on interest, look for a card that offers 0% introductory APR on purchases. You can also use balance transfer credit cards to help you avoid interest charges and pay off your debts.

If you’re looking to build or repair your credit, a new account can help. But if you have a short credit history or have recently applied for another card, your application may be declined.

The bottom line

When applying for a new credit card, the best time to do so usually depends on your financial situation and credit standing. You can take advantage of credit card pre-approval to see your chances. Otherwise, you’ll need to assess your personal financial situation and goals to determine if it’s worth criticizing your credit score for. multiple credit card apps.

Editorial content on this page is based solely on objective, independent assessments by our editors and is not influenced by advertising or partnerships. It was not supplied or commissioned by a third party. However, we may receive compensation when you click on links to products or services offered by our partners.

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First Progress Platinum Elite Mastercard Secured Credit Card Review – Forbes Advisor https://kr2k.com/first-progress-platinum-elite-mastercard-secured-credit-card-review-forbes-advisor/ Tue, 08 Nov 2022 14:00:22 +0000 https://kr2k.com/first-progress-platinum-elite-mastercard-secured-credit-card-review-forbes-advisor/ The first Progress Platinum Elite Mastercard® secured credit card compared to the Discover it® secured credit card The Discover it® Secure credit card offers most of the features of many modern secure cards and does so without charging cardholders an annual fee. The card earns 2% cash back at gas stations and restaurants on up […]]]>

The first Progress Platinum Elite Mastercard® secured credit card compared to the Discover it® secured credit card

The Discover it® Secure credit card offers most of the features of many modern secure cards and does so without charging cardholders an annual fee. The card earns 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Plus, get unlimited 1% cash back on all other purchases. It offers $0 fraud liability and offers the ability to get your deposit back after demonstrating responsible credit use.

The lack of annual fees alone makes the Discover it® Secured Credit Card a better option than the First Progress Platinum Elite Mastercard Secured Card for many consumers, but with added rewards, the Discover it Secured Credit Card ® is a much better option than the first secure Progress Platinum Elite Mastercard® credit card.

The First Secured Progress Platinum Elite Mastercard® Credit Card vs. Bank of America® Cash Rewards Personalized Credit Card for Students*

For college students looking to build up credit, another type of card exists: the student card. The Personalized Bank of America® Cash Rewards Credit Card for Students* provides a great example, especially for those who want simple rewards. The card earns 3% cash back in the choice category and 2% automatically at grocery stores and wholesale clubs. Cash back is limited to $2,500 in the 3% and 2% categories combined each quarter. Earn unlimited 1% on all other purchases.

Although not everyone without a credit history is lucky enough to be classified as a student, we strongly recommend that those focusing on studies check student cards instead of secure cards. These cards generally do not require a deposit and often offer much better rewards than many secured cards. The personalized Bank of America® Cash Rewards credit card for students* also offers optional overdraft protection and other convenient benefits in addition to its rewards, all without charging an annual fee.

The First Progress Platinum Elite Mastercard® Secured Credit Card vs. The First Progress Platinum Prestige Mastercard® Secured Credit Card

The First Progress Platinum Prestige Mastercard® Secured Credit Card offers the same lack of major benefits as the Platinum Elite Mastercard Secured for a different annual fee of $49 and a regular variable APR of 12.99%. This annual fee swap for a regular APR reduction is nice if you’re worried about carrying a balance and have the cash to pay for card access, but we’re still not convinced anyone should ask for either other cards.

carry a balance with any card is something to avoid, but when trying to build up credit with a secured card, cardholders should be especially careful about the interest payable. Learning or reinforcing the habit of paying in full on time every time is important for responsible credit use and financial health and is the most ideal way to manage a credit card.

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Lendbuzz secures $150 million credit facility https://kr2k.com/lendbuzz-secures-150-million-credit-facility/ Tue, 01 Nov 2022 22:18:04 +0000 https://kr2k.com/lendbuzz-secures-150-million-credit-facility/ Automotive financing platform Lendbuzz secured a $150 million credit facility with JP Morgan and will use it to help increase the number of borrowers it serves. This is the second credit facility the investment bank has extended to the FinTech, with the first being made in January, Lendbuzz said Tuesday (November 1) in a statement. […]]]>

Automotive financing platform Lendbuzz secured a $150 million credit facility with JP Morgan and will use it to help increase the number of borrowers it serves.

This is the second credit facility the investment bank has extended to the FinTech, with the first being made in January, Lendbuzz said Tuesday (November 1) in a statement. Press release.

“We are delighted with the confidence that JP Morgan has shown in Lendbuzz by entering this facility,” said Lendbuzz CEO. Amitay Kalmar said in the press release. “This relationship is an important part of our growth strategy, expanding our ability and ability to provide loans that unlock the power of financial opportunity for a growing number of consumers and dealers.”

The Lendbuzz platform is powered by artificial intelligence (AI) and machine learning (ML) and allows the company to assess the creditworthiness of consumers with little or no credit history, according to the press release. hurry.

Lendbuzz said it is currently growing its auto loan count by more than 100% year-over-year, enabling financing solutions for consumers and providing a more diverse customer base for auto dealerships.

PYMNTS research found that nearly two-thirds of consumers want to improve their credit rating but don’t know how to do it.

Read more: A third of consumers think their credit is better than it is

According to “Credit Score Literacy and Building Credit Report», a collaboration between PYMNTS and Momentum (a division of US Bank).

We are always looking for partnership opportunities with innovators and disruptors.

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Cecil Atkission Toyota offers online pre-approval for auto loans in Orange, TX https://kr2k.com/cecil-atkission-toyota-offers-online-pre-approval-for-auto-loans-in-orange-tx/ Sun, 30 Oct 2022 02:41:06 +0000 https://kr2k.com/cecil-atkission-toyota-offers-online-pre-approval-for-auto-loans-in-orange-tx/ Cecil Atkission Toyota offers online pre-approval for auto loans in Orange, TX ORANGE, TX (PRWEB) October 30, 2022 Getting approved for a car loan may not be as easy as it seems. The credit history of the loan applicant has a direct impact on the approval of the application. Customers near the Orange, Texas […]]]>

Cecil Atkission Toyota offers online pre-approval for auto loans in Orange, TX

Getting approved for a car loan may not be as easy as it seems. The credit history of the loan applicant has a direct impact on the approval of the application. Customers near the Orange, Texas area can now get pre-approved online for auto loans at Cecil Atkission Toyota, a local auto dealership in the area.

At Cecil Atkission Toyota, there is an excellent selection of the latest Toyota sedans, trucks and SUVs available in their inventory. This dealership’s experienced finance team has partnered with several financial institutions and lenders, enabling them to secure car loan approvals for most of their customers, regardless of their credit rating. Prospective buyers can apply for credit pre-approval by completing a simple and secure online credit application form available on their official website. Once the form is submitted, a dealer representative will contact you to confirm the applicant’s pre-approval status and to guide them through the rest of the process.

Interested parties are invited to visit the Cecil Atkission Toyota dealership located at 2500 IH-10, West, Orange, Texas, 77632. Drivers can also schedule a test drive online and contact the dealership sales team for a quote for the desired vehicle. For any other inquiries, please do not hesitate to contact their friendly and professional customer service team at 833-378-1225.

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Today’s best mortgage deal? Look at 15-year rates to save | October 25, 2022 https://kr2k.com/todays-best-mortgage-deal-look-at-15-year-rates-to-save-october-25-2022/ Tue, 25 Oct 2022 15:01:31 +0000 https://kr2k.com/todays-best-mortgage-deal-look-at-15-year-rates-to-save-october-25-2022/ 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. Check out the October 25, 2022 mortgage […]]]>

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.

Check out the October 25, 2022 mortgage rates, which have been mixed since yesterday. (Credible)

Based on data compiled by Credible, mortgage refinance rate are mixed today, with one key rate up, two down and one flat since yesterday.

Rates were last updated on October 25, 2022. These rates are based on the assumptions presented here. Actual rates may vary. With 5,000 reviews, Credible maintains an “excellent” Trustpilot score.

What does that mean: 30-year mortgage refinance rates rose a quarter point to 7.25% today. Meanwhile, 10- and 15-year rates fell slightly and 20-year rates remained stable. Homeowners looking to refinance may want to consider shorter terms, as they are more than three-quarters of a point lower than 30-year rates. But homeowners who want a longer-term refinance should stick to 20-year rates.

Today’s Mortgage Rates for Buying a Home

According to data compiled by Credible, mortgage rates for buying a home are mixed today, with one key rate up, two down and one flat since yesterday.

Rates were last updated on October 25, 2022. These rates are based on the assumptions presented here. Actual rates may vary. Credible, a personal finance marketplace, has over 5,000 Trustpilot reviews with an average rating of 4.7 stars (out of a possible 5.0).

What does that mean: Rates on a 30-year mortgage rose to 7.25% today, while 20-year rates were flat. At the same time, rates for 10- and 15-year maturities fell slightly to 6.49%. Buyers who can make a larger monthly mortgage payment will realize the most interest savings with shorter repayment terms. Borrowers who want more time to pay off their mortgage can consider 20-year rates, which are now lower than 30-year rates for the first time in six weeks.

To find great mortgage rates, start by using Credible’s secure website, which can show you current mortgage rates from multiple lenders without affecting your credit score. You can also use Credible’s mortgage calculator to estimate your monthly mortgage payments.

How mortgage rates have changed over time

Current mortgage interest rates are well below the highest average annual rate recorded by Freddie Mac – 16.63% in 1981. A year before the COVID-19 pandemic upended economies around the world, the mortgage rate he average interest on a 30-year fixed rate mortgage for 2019 was 3.94%. The average rate for 2021 was 2.96%, the lowest annual average for 30 years.

The historic decline in interest rates means that homeowners with mortgages from 2019 could potentially realize significant interest savings by refinancing with one of today’s lowest interest rates. When considering a mortgage refinance or purchase, it’s important to consider closing costs such as appraisal, application, origination, and attorney’s fees. These factors, in addition to the interest rate and loan amount, all contribute to the cost of a mortgage.

Are you looking to buy a house? Credible can help you compare current rates from multiple mortgage lenders both in minutes. Use Credible’s online tools to compare rates and get prequalified today.

Thousands of Trustpilot reviewers rate Credible as “excellent”.

How Credible Mortgage Rates Are Calculated

Changing economic conditions, central bank policy decisions, investor sentiment and other factors influence the movement of mortgage rates. Credible’s average mortgage rates and mortgage refinance rates shown in this article are calculated based on information provided by partner lenders who pay compensation to Credible.

The rates assume a borrower has a credit score of 740 and is borrowing a conventional loan for a single-family home that will be their primary residence. Rates also assume no (or very low) discount points and a 20% deposit.

The credible mortgage rates listed here will only give you an idea of ​​today’s average rates. The rate you actually receive may vary depending on a number of factors.

What is a good mortgage rate?

Generally, a good mortgage rate is the lowest you can qualify for based on your individual factors, such as credit history, income, other debts, amount of down payment, etc.

A rate that suits your financial situation should translate into a monthly mortgage payment you can manage, while leaving enough room in your monthly budget for savings, investments and an emergency fund. And a good rate must be competitive with the average rates of the geographical area where you are looking to buy.

If you’re trying to find the right mortgage rate, consider using Credible. You can use Credible’s free online tool to easily compare multiple lenders and see pre-qualified rates in just minutes.

Do you have a financial question, but you don’t know who to contact? Email the Credible Money Expert at moneyexpert@credible.com and your question might be answered by Credible in our Money Expert column.

As a credible authority on mortgages and personal finance, Chris Jennings has covered topics like mortgages, mortgage refinance, and more. He was a publisher and editorial assistant in the online personal finance space for four years. His work has been featured by MSN, AOL, Yahoo Finance, etc.

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5 things you need to know about the Fair Credit Reporting Act https://kr2k.com/5-things-you-need-to-know-about-the-fair-credit-reporting-act/ Sat, 22 Oct 2022 09:32:48 +0000 https://kr2k.com/5-things-you-need-to-know-about-the-fair-credit-reporting-act/ Image source: Getty Images Know what your rights are as a consumer. Key points Your credit report and history could play an important role in your finances. The Fair Credit Reporting Act is designed to help protect consumers in several ways. The FCRA gives you free access to your credit report and allows you, among […]]]>

Image source: Getty Images

Know what your rights are as a consumer.


Key points

  • Your credit report and history could play an important role in your finances.
  • The Fair Credit Reporting Act is designed to help protect consumers in several ways.
  • The FCRA gives you free access to your credit report and allows you, among other things, to dispute any errors in it.

Your credit report can be one of those things you don’t often think about. But in fact, it is quite a large collection of information.

Lenders generally rely on credit reports to determine whether they will lend money to a particular applicant and at what borrowing rate. It is therefore important to know what your credit file looks like and what your rights are to manage it.

This is where the Fair Credit Reporting Act comes in. The FCRA is designed to help protect consumers and give them proper control over their credit reports. Here are some of the protections you need to know about.

1. You have the right to check your credit report for free

As a consumer, you are generally entitled to a free credit report every 12 months from each of the three main credit bureaus –Experian, Equifax and TransUnion. You should also be aware that checking your own credit report will not affect your credit score in any way. Until the end of 2023, you can even access free weekly reports.

If you are applying for a mortgage, auto loan or credit card, the lender or credit card company in question will need to check your credit report to make sure you are a reputable borrower. But while it’s okay for these entities to check your credit report, that doesn’t mean a legacy company can pull your credit report and take a look. In fact, even if you are applying for a loan or credit card, you will always need to give the lender or company you are applying for permission to access your credit report.

Keep in mind that if your credit report is pulled for borrowing purposes, it counts as a thorough investigation. One serious request could have a modest impact on your credit score, so you don’t want too many of these requests in a short time.

3. Credit bureaus should take disputes seriously

While checking your credit report, you may find information that does not appear to be correct. It is beneficial to report any errors you encounter to the office that issued your report. And this office must investigate and respond to your dispute within a reasonable time – usually 30 days.

4. Negative information can’t stay on your credit report forever

Not everyone has a perfect credit history. But yours should only hold you so long. Under the Fair Credit Reporting Act, credit bureaus must remove negative information from your credit report after a certain amount of time (the exact amount of which depends on what is reported). A foreclosure, for example, must be removed from your credit report after seven years.

5. You have the right to freeze your credit report

Freezing your credit report could prevent a criminal from opening a new loan or credit card account in your name. If you have reason to believe that your personal information has recently been compromised, it may be beneficial to freeze your credit. This freeze won’t be permanent – you can unlock it when it comes time to apply for a loan or credit card.

Reading about the Fair Credit Reporting Act might not seem like the most fun weekend activity. But as a consumer, it’s important to know your rights, so you might want to spend at least some time learning about the credit protections you’re entitled to.

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How Refinancing My Private Student Loans Affected My Credit Score https://kr2k.com/how-refinancing-my-private-student-loans-affected-my-credit-score/ Wed, 19 Oct 2022 12:43:26 +0000 https://kr2k.com/how-refinancing-my-private-student-loans-affected-my-credit-score/ Insider’s experts choose the best products and services to help you make informed decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page. I refinanced my student loans to get a lower monthly payment […]]]>

Insider’s experts choose the best products and services to help you make informed decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.

  • I refinanced my student loans to get a lower monthly payment and remove my mom as a co-signer.
  • My credit rating went up after the refinance because two of my Navient accounts were still open.
  • My credit score then dropped 12 points a month later when those accounts were closed.

Over the past year, I have embarked on a credit repair journey to bounce back from my past money mistakes.

I have affordable payment plans in place for my old credit card debt and am diligently repaying my student loans. I also took the time to call each of my creditors and have my debts transferred from my dead name, the name transgender and non-binary people are given at birth, to my new name so I can hold my up-to-date credit file.

After raising my score above 700, I was finally able to refinance my private student loans so I could get a lower monthly payment and remove my mom as a co-signer.

Student loan refinance companies featured by Insider

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APR

Variable: 3.40% – 8.24%, Fixed: 3.99% – 8.24%

Editor’s note

4.5/5

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APR

Variable: 2.49% – 8.90%, Fixed: 3.29% – 8.49%

Editor’s note

3.5/5

A five pointed star

A five pointed star

A five pointed star

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APR

Variable: 3.24% – 7.99% APR with AutoPay, Fixed: 3.99% – 8.99% APR with AutoPay

Editor’s note

3.5/5

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My credit score unexpectedly increased by 40 points

One factor that goes into your credit score is the length of your credit history. Experts say a long credit history — that is, accounts in good standing that have been open for many years and show up on your credit report — can boost your credit score when combined with on-time payments.

My student loans, which were opened between 2010 and 2014, are the oldest accounts on my credit report. Refinancing my student loans meant I would close my oldest accounts and reduce my credit history, so I expected my score to drop a few points.

The reason my credit rating went up was due to a happy accident: I refinanced $67,000 in private student loans, leaving $1,038 in two of my five Navient accounts. I didn’t want to leave any debt in my Navient accounts, but just entered $67,000 into the refinance application because it seemed easier. Because my loans were paid off by the refinance and the two old accounts remained open, my score increased by 40 points.

In addition to refinancing my student loans, I also opened a secured credit card with a $200 limit for my phone and internet bill. I pay them off in full each month, and my new on-time payment history, coupled with paying off the student loan, has boosted my credit rating significantly.

The following month, my score dropped by 12 points

I knew the credit bureaus would eventually catch up with the changes in my account and that my credit score of 753 wouldn’t last long. Shortly after refinancing my student loans, I received a windfall of money from a journalism award. I used this to refund my remaining $332 in one of the Navient accounts.

Somehow my four closed Navient accounts showed up on my credit report during the same period and, as I expected, my credit score dropped 12 points.

Refinancing my student loans will improve my long-term credit rating

I know that once I close my remaining Navient account, my credit score will drop a few more points. Luckily, I’m focused on the long game.

My monthly student loan payments went from $670 to $462 per month after refinancing. This monthly savings alone will make it easier for me to pay off my student loans and increase the principal balance if I have money left over at the end of the month. Next year, if my credit rating goes up due to my improving payment history, I plan to refinance again to see if I can get an even lower interest rate.

When I started my credit repair journey, I was moved by all the twists and turns in my credit. After the first year, I learned to accept the roller coaster of credit, with the safety belt of a long-term strategy to control myself.

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