Author: admin

Top 7 Benefits of Online Personal Loans

There are lots of benefits that come with taking out an online personal loan, and it’s something that more and more people have started doing. When you take the time to look into some of these benefits, you should be able to get a better idea as to whether or not this sort of loan is right for you. There are a lot of people taking out these loans, but some of them rush into it without getting all the information first.

1. They are great for emergencies

Online personal loans are excellent for emergency situations where you need money so you can pay off a crucial and unexpected expense. There are a lot of different things that can come up, such as home repairs auto repairs and medical bills. If you have any type of emergency expense whatsoever, it is highly recommended that you look into getting an online personal loan as soon as possible. This type of loan could really save you in this tpe of situation.

2. Convenience

The sheer convenience that comes with online personal loans is definitely something else to consider. You will be able to apply for one of these loans entirely online. This means that you won’t have to worry about going down to any office or bank in person to get/fill out an application. Everything is done online, so all you really need is a computer and internet connection. All of your dealings with the lender will be online as well, usually via email.

3. An Easier time getting Approved

If you have experienced problems with getting approved for a personal loan by your bank or credit union, you might want to try applying online with a private lender. A lot of online lenders are more willing to give people with poor credit a chance, so you will need to keep that in mind. Anyone with bad credit will find that doing this is definitely worth it overall.

4. Lower Rates

Yet another benefit of online personal loans is that you can get some very low rates, which will ultimately save you quite a bit of money. While the interest rate you pay is going to depend on your credit, location and the lender you choose, these loans have cheaper rates than most others in general. If you need to get a lot to cover some important expense in your life but want to save as much as you can, this is certainly an option worth looking into immediately.

5. Lots of different options

There will be many different lender options to explore when it comes to online personal loans, so you will therefore want to take some time to see what there is to choose from before making a final decision. The more time you take to do this research, the more likely you will be to get exactly what you need at the right price.

6. 24/7 Customer Service

The 24/7 round-the-clock customer service that you are likely going to get with an online personal loan is something else to consider when trying to make up your mind one way or another. With a traditional loan from a bank or credit union, you will have to wait until regular business hours to get answers to any questions or concerns you may have. With these online lenders though, they are always available to help.

7. Saving yourself time

One of the biggest reasons to consider applying for an online personal loan is the fact that you can save yourself quite a bit of time. The whole process of getting an online personal loan is so quick, easy and convenient that you will definitely save a lot of time overall.

Conclusion

Online personal loans have become a very popular solution for those who need money to cover an auto repair, home repair, medical bill or even a vacation. There are lots of different things that you can use a personal loan for, but it’s important to think about going online to get it. Even if you want to purchase a new car, you should look into what the internet has to offer before deciding on a certain lender.

The very best Credit Cards for Students in 2017

A majority of college students don’t have much of a credit history at all, and that can be a real hindrance when it comes to getting a car loan or even renting an apartment. These days a person’s credit plays a vital role in determining just how easy their life is going to be, and it’s particularly important for students to think about this early on. There are definitely some credit cards that are better than others for college students, and you will need to know what they are. By taking the time to get this information, you will be able to make the right decision on a certain card to apply for.

Journey Student Rewards from Capital One

The Journey Student Rewards card from Capital One comes with a very low fee and is especially perfect for college students who have at least decent credit. If you want a card that will earn you cash back rewards, you will want to take a close look at what this one has to offer. This card’s cash back program allows you to earn 1% cash back with no spending categories or limits whatsoever. While there isn’t a sign up bonus, you won’t have to pay an annual fee or foreign transaction fee.

Discover it for Students

Discover it for Students has a lot of the same benefits that come with the standard Discover it card, including its cash back program. All of the purchases that you make with this card will earn 1% cash back, and you won’t have to deal with spending caps or restrictions of any kind. You will be able to redeem your cash in any amount as a statement credit, check, bank account deposit or even Amazon purchase credit. There is no annual fee and an introductory APR of 0% purchases for 6 months. It also comes with a free FICO credit score every month, so you can stay up to date with the state of your credit.

Discover it Chrome for Students

Discover it Chrome for Students has a lot in common with the Discover it Chrome card. There is a cash back program with this card as well. All dining and gas purchases are eligible for 2% cash back with a limit of £1,000 per quarter. All dining and gas purchases that exceed this amount earn cash back of 1%. There is no annual fee that you will need to pay, and 0% introductory APR for 6 months. Considering all of the perks associated with this card, it is a great option for many students.

Upromise World MasterCard

The Upromise World MasterCard is another great credit card for students who want to start building up their credit with minimal strings attached. This card is issued by Barclaycard and will allow you to earn cash on everyday purchases. You will earn 1% cash back on all of your purchases without any spending caps, and there is 2% cash back on department store and movie theatre purchases. If you are approved for this card, you will get a $50 cash back bonus when you use it to make at least one purchase within 90 days of opening your account.

Citi ThankYou Preferred Card for College Students

The Citi ThankYou Preferred Card for College Students is a slightly different version of the Citi ThankYou Preferred card that is especially beneficial for students in a number of ways. This is one of the few student credit cards with a sign-up bonus, and it has an extremely valuable rewards program. There is no annual fee, and a 0% purchase APR for 7 months.

Conclusion

Because there are so many different credit cards available for students, you will need to take the time to see what your options are like before deciding on one in particular. The credit card you choose will be very important, which is why it’s so crucial that you do your homework. Getting a credit card can help you establish your credit, which is important for a number of reasons. The credit cards discussed in this article are among the best for college students in 2017, and it’s a good idea for you to learn more about each one.

The Biggest Credit Card Mistakes you need to Avoid

A lot of people who have credit cards make quite a few big mistakes that could have easily been avoided with a little bit of knowledge. The fact is that having a credit card can be a great thing, but you need to know what not to do when you have one. If you want to avoid going into credit card debt like so many others, it is imperative that you are fully aware of these mistakes so you don’t make them as well.

Maxing out your credit cards

While it’s true that there are some situations where maxing out your credit cards is necessary and even beneficial, most of the time it’s a huge mistake that should be avoided. By doing this you run the risk of going over your credit limit with interest, but it can also have a very negative impact on your credit utilization ratio. Those who have a lower credit utilization ratio percentage will have less money owed and more credit available overall.

Paying only the minimum required amount

It can certainly be tempting to just pay the minimum required amount on your credit cards, but it’s something that could eventually get you into trouble. You should definitely make an effort to pay as much as possible on your cards each month so that you don’t risk going into debt. Even paying £20 more each month could help you to pay down your balance quite a bit faster. This is something that almost everyone is capable of doing, but that few people actually do.

Closing old credit cards

Sometimes people get overwhelmed because of the number of credit cards they have, which leads them to cancelling older cards. While this may sound like a good way of managing your cards, the truth is that closing old credit cards can actually have a very negative impact on your credit score. Around 15% of your total FICO credit score is based on your credit history. When you cancel any credit cards that were opened 5 to 15 years ago, you could be erasing that history from your report, which is not a good thing at all.

Applying for multiple credit cards

It’s never a good idea to apply for multiple credit cards at one time, because it will most likely have a negative impact on your credit score. Applying for just one new line of credit can actually help your credit score, but this is not the case when you apply for numerous credit cards in a short period of time. The inquiries into your credit that come with applying for a credit card can show up as negative marks on your credit. You will need to keep this in mind when you are thinking about applying for more than one card at a time.

Not knowing when the introductory period ends

You should make a point of knowing exactly when the introductory period for your credit card ends so that you will know what is coming. Credit cards with an introductory period of 0% APR eventually come to an end, and you will have to know when. These cards can be very helpful when it comes to transferring a balance and providing you with some much needed financial assistance, but it will eventually end. Make sure that you know exactly when the introductory period for your card ends so that you don’t end up paying more money in interest or fees that you originally expected.

Conclusion

The fact is that too many people make very serious mistakes with their credit cards, and it’s something that you will need to make a conscious effort of avoiding yourself. If you don’t want to end up hundreds or even thousands of dollars in debt, you will have to keep these all-too-common mistakes in mind going forward. A credit card should never be viewed as free money, because you will eventually have to pay your bill with interest. Because there are so many different things to consider, it is crucial that you read through this article and use the information in it to your advantage. You will certainly be glad you took these things into consideration.