Finance Globe Blog

U.S. financial and economic topics from several finance writers.

Don’t Have 20 Percent for a Down Payment?

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When buying a home, a variety of financial questions and concerns will move to the forefront. While there are many numbers to keep in mind, 20 percent will come up time after time. This is the magic number when it comes to a minimum down payment. Basic math shows you that this is equivalent to $20,000 down for every $100,000 worth of home. So, if you’re buying a property for $200,000, a $40,000 down payment...
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Wanderer
Sometimes even when you do not have 20% down, you will be money ahead in owning over leasing/renting and you potentially are build... Read More
Thursday, 13 June 2019 05:15
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Will Your Job Check Your Credit Score

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It’s a common myth that your credit score can keep you from getting a job or promotion. While your current or a prospective employer may check your credit, they’re not checking your credit score. In fact, a credit score may not even be useful to an employer because it doesn’t provide the information they need to make a decision about you. An employer wants to see your credit information, so they receive a modified version of...
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Wanderer
Good information that let's an applicant know the reasoning behind an employment credit check. With family that have worked in ban... Read More
Saturday, 08 June 2019 06:52
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Don’t Pay That Credit Card Fee, Contact Customer Service

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Imagine this: you receive your credit card statement expecting more of the same, but are surprised when you come across a fee. There are many types of credit card fees, including but not limited to: annual fee, late fee, and foreign transaction fee. While these are all legitimate fees that you agreed to upon signing up for the credit card, it doesn’t necessarily mean you have to pay them. Before you do anything, contact customer...
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What to Do If Your Credit Card is Maxed Out

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Most credit cards come with a credit limit, which is the highest outstanding balance you’re allowed to have on your credit card. Your credit limit is based on a few factors: your credit score, your income, and the credit card itself. Spending all the way up to your credit limit is known as maxing out your credit card. Even though your credit card issuer allows you to spend all the way up to your credit...
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Wanderer
Scary thing about maxing credit cards is when your balance shows up at the credit bureaus and the other creditors that monitor you... Read More
Sunday, 07 April 2019 06:02
Frank
If you have maxed out of your credit cards, you should seek financial assistance or professional help to begin tackling your debt.... Read More
Thursday, 30 May 2019 10:06
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Buying Life Insurance? Avoid These Mistakes

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Buying life insurance is never easy, as you may find yourself pulled in two different directions. On one hand, you want to put a lot of time into the process because you understand how important it is to purchase the right policy. On the other hand, who really want to think about what will happen when they pass away? Below are five of the most common mistakes people make when buying life insurance: 1. Neglect...
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Frank
I always recommend pursuing term life insurance. To me the benefits far out weigh all other options.
Sunday, 28 April 2019 19:36
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Top Features of a Small Business Credit Card

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With so many small business credit card offers to compare, it can take several hours (or longer) to gain a better understanding of what’s best for you, your finances, and your company. There are some small business credit card features you don’t want to overlook, as they’re important to your overall experience. Here are several to focus on as you compare your options and make a final decision: •    Online account management: Every credit card...
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Frank
You can also look into how long you are able to pay off the credit card. Some companies offer 2-3 months payback.
Sunday, 28 April 2019 19:31
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How to Build Up a Thin Credit File

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When you’re first starting out with credit, it’s natural to have a limited amount of information on your credit report. In the credit industry, that’s called a “thin” credit file. Unfortunately, having a thin credit file can make it difficult to get approved for many credit cards and loans. In some cases, you may not have a credit score if you have a thin credit file. You need at least one account on your credit...
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Frank
It takes time to build up a strong credit score, but if you are consistent and diligence about it, you will see your score improve... Read More
Thursday, 21 March 2019 11:36
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4 Options for Dealing With Higher Credit Card Interest Rates

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Your credit card interest rate affects how much you pay for carrying a balance on your credit card. The higher your interest rate, the more you'll pay in finance charges and the longer it will take you to pay off your full credit card balance. When you have a variable credit card rate, there's always the risk that your interest rate will go up. That's because variable rates are indirectly tied to the Federal interest rate....
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Wanderer
Good information that covers most of the questions people think of. Today, unlike one or two years ago when there were more Fixed ... Read More
Friday, 08 March 2019 06:43
Frank
As I always like to push, you should be paying off your credit card in full every month. There are other alternatives to borrowing... Read More
Thursday, 21 March 2019 11:33
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3 Options for Consolidating Your Credit Card Debt

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Trying to pay off multiple credit cards can be complicated. You have to break up your extra money between all your balances, which means you’re not making as much progress as you would if you could just pay one debt. Consolidating your credit card debt makes it much easier to pay since you can make a single payment. The hard part can be figuring out the best way to consolidate. Here are a few options...
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Frank
I think consolidating it with a home equity line is usually the best plan as its usually the lowest interest rate. You can also pa... Read More
Wednesday, 27 February 2019 15:36
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Ask Your Credit Card Company to Change These Things

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When you apply for a credit card, you do so after comparing a variety of offers in order to find the right one. Over time, the terms and conditions of your credit card could change. If this happens, you shouldn’t hesitate to contact your issuer to discuss your options. Furthermore, if you come across something that no longer works for you, it’s worth asking for assistance. Here are three things you should ask your credit...
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Frank
Always ask for the manager! Sometimes they don't provide it, but I have had success in the past.
Wednesday, 27 February 2019 15:35
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