Author: Fabi Pmoto

Navigating the world of finance can be a maze, especially when it comes to choosing the right credit options. Two common but often misunderstood options are credit cards and lines of credit. Let’s break down the Credit Card vs Line of Credit puzzle in a way that’s not only easy to understand but also practical in your financial decision-making.However, they are not the same. Below is a brief overview of their differences.Key DifferenceCredit CardLine of CreditAccess and UsageIdeal for daily expenses, online shopping, smaller purchases. Instant access with card.Suited for larger, ongoing expenses or projects. Access via bank transfers or…

This Avant loan review is for you if you’ve had difficulties getting approved for a private loan, because Avant personal loans might be your best option. Unlike other lenders, Avant has a less strict credit policy, favoring clients with low credit scores from 580.Avant offers personal loans from $2000 to $35000 at an interest rate between 9.95% and 35.99% APR. The loan terms range from 24 to 60 months. Personal loans from Avant come with a 4.75% administration fee. This means if you borrow $10000, you will only receive $9525 since $475 will be deducted for administration fees.Avant also gives…

LendingClub helps you pay down your high-interest debt and consolidate credit card balances by offering personal loans at lower fixed interest rates. Borrowers throughout the USA can get personal loans with absolutely no prepayment penalties. LendingClub offers personal loans up to $40,000 , Auto Refinance Loans up to $50,000, and Business Loans up to $500,000 at interest rates from 7.04% to 35.89% APR. Although there is no application fee or prepayment penalties, there is an origination fee of 3-6% for personal loans.By taking a personal or business loan from LendingClub, you can save more than $1000 on interest rates and repayment…

Credit cards, although convenient and often beneficial for managing finances and building credit, come with several significant disadvantages. One of the primary issues is the high interest rates and additional charges they impose, which can accumulate rapidly if balances are not paid in full, leading to substantial debt. Let’s look at 6 credit card disadvantages to be aware of before using your credit card.1. High-Interest Rates and ChargesThe high-interest rates and charges on credit cards are a significant disadvantage. Credit cards typically carry higher interest rates compared to other forms of credit. If the balance is not paid in full…

If you are have ever wondered how many credit cards is too many, then you are one of millions of people all over the world with the same question. The short answer is; the number of credit cards considered ‘too many’ can vary based on your financial situations and credit management skills.6 Key factors to consider in determining how many credit cards is too many.1. Credit Utilization and ScoreCredit utilization ratio, a vital component in calculating your credit score, represents the percentage of your total available credit that you are currently using. It’s a significant factor, accounting for about 30%…

There are several types of credit card with unique features and different use cases. These credit cards are;Credit Card TypeIdeal ForImportant BenefitStandard Credit CardsSeeking a hassle-free credit experienceLower APRs and fewer fees, simplicity for everyday spendingRewards Credit CardsFrequent card users keen on earning rewardsEarn points, miles, or cash back on every purchaseBalance Transfer Credit CardsManaging or reducing existing credit card debtLow or 0% interest rates for a set period on transferred balancesStudent Credit CardsCollege students starting their credit journeyEducational resources, rewards for good financial behaviorSecured Credit CardsThose with poor or no credit historyHelps in building or rebuilding creditBusiness Credit CardsBusiness…

Credit cards can improve your credit score in several ways, provided they are used responsibly. Understanding how credit cards affect your credit score is crucial in managing your finances and maintaining good credit health. Here’s a brief on how credit cards improve credit score;5 ways credit cards can improve your credit scoreNow let’s explore in detailed on how credit cards can positively impact your credit score1. Building a Positive Payment HistoryBuilding a Positive Payment History is a crucial aspect of how credit cards can enhance your credit score, as it represents approximately 35% of your overall score. This factor underscores…

Are you getting a bill from IRS this year? You’re not the only one who feels this way. But what if you can’t pay what you owe the IRS because you don’t have enough money? There’s no need to panic if you find yourself in this terrible scenario. The Internal Revenue Service (IRS) offers many tax relief choices that may be beneficial to you.What if we tell you that you may be able to break down your debt into manageable installments or minimize your tax debt through tax relief. No, tax relief will not eliminate your tax bill. Although sometimes it…

SoFi Securities LLC offers no-fee and low-interest rates personal loans to borrowers in the United States (except Mississippi) with a credit score of at least 670. The higher your credit, the cheaper the interest rate and loan term you will receive.Borrow from $5,000 up to $100,000 without collateral at a fixed interest rate starting from 4.99% APR to 19.63% APR. Use this loan to finance your home improvement projects, consolidate your credit card debts, travel, weddings, family planning, and more.Here is a quick overview of SoFi Personal Loans.Brief About SoFi Securities LLCSoFi, also known as Social Finance Inc, was founded…

If you are looking for a No Fee, Fixed and attractive Interest Rate, and On-Time Payment Rewards loans, you might want to consider Marcus Personal Loans. Marcus By Goldman Sachs is a brand of Goldman Sachs Bank USA and Goldman Sachs & Co. LLC. Marcus By Goldman Sachs offers different financial products like savings, investments as well as personal loans. Today we will be reviewing the features of the personal loans offered by Marcus to help you decide if their loans are suitable for you.Note: Marcus no longer offer personal loans to new customers.A Brief About Marcus By Goldman SachsDue to…