Key information about your loan and finance needs,
learn about different types of loans available in the market. Information
presented here will help you choose correct and better loan options for your
loan needs. You will be able to choose best option for Personal Loan, Business
Loan and Small Business Loan.
- What is Loan?
A brief description about loans, its hidden cost, difference between loan
& gift, formalities involved while taking loan etc..
- What is unsecured Loan?
An unsecured loan would do nothing for you but land you into trouble as you
could keep on paying more interest than is your due for it. If you know what
is a personal loan then a personal loan and an unsecured loan are the same
- What is
When you use a credit card to make a purchase or you take loan for a lender
you agree to a certain set of repayment terms. The repayment guidelines
inform you how and when do you need to repay the amount whether it is weekly
or monthly etc.
- What is Jumbo Loan?
The housing bubble has been very disappointing for people wanting to buy
their dream homes. The prices of some starter homes in some places have made
people look towards jumbo loans to get the house of their choice.
- What are Pay Day
Pay day loans are also known as cash advance loans and these are short term
loans with a high rate of interest to generate cash between payments of
- What are
A loan that conforms to limits set by Fannie Mae and Freddie Mac is known as
a conforming loan. The loan that exceeds these limits is known as a jumbo
loan and carries a higher rate of interest.
- What is Home
An owner can access the equity in their primary residence without having to
sell his property such a settlement is known as a home equity loan. Equity
is the amount that is the difference between the value of the home and what
is owed against it.
- What is Margin
The loan provided by a brokerage house to customers for the purpose of
buying stocks on credit is known as a margin loan.
- What is
A personalized financial record that keeps the person abreast of the status
of his account is called a monthly statement. This information is mailed to
the recipient nearly around the same date each month.
- What is Home Equity?
The amount of money already paid by you against the value of your home
is known as home equity. To determine your home equity just perform a simple
calculation subtract the amount of the mortgage balance from whatever is the
present fair market value of your home.
- What is Debt Relief?
The way you get relief from your debts through various methods like
contacting your creditors for easier repayment options, debt consolidation
or filing of bankruptcy is known as debt relief.
- What is a Gas Credit Card?
You might feel that buying gas has become very expensive these days. So if
you wish then you can avail a gas credit card that will offer you a rebate
on your purchases of gas.
- What is the Prime Rate?
The rate at which the banks and lenders give credit to their most
trustworthy customers is known as prime rate. Loan products like automobile
loans and personal loans take the prime rate as the base rate.
What is FICO Score?
A method to measure the credit worthiness of a person without actually
having to access the financial history and records of the person is known as
the FICO score.
What is an APR?
This is the Annual Percentage Rate that is used to express the cost of
credit. This is the amount that a customer needs to pay yearly for acquiring
credit or loans etc. It is law that the lenders have to disclose the APR to
the customer fully.
What is Airline Credit
There are a number of credit cards offering the perk of frequent flier
bonuses. These cards provide you with bonus flier miles depending upon the
amount that you have spent through your card.
What is an Internet Bank?
The internet has come as a revolution for all of us. The way we live our
lives has changed completely. There is the opportunity of shopping, studying
and even working from home online.
What is a Line of Credit?
Line of credit is also called a credit line or a credit limit. This is the
maximum amount of cash that a bank or lending institution will lend to some
one without asking for additional approval.
What is an Adverse Credit History?
You might know adverse credit history by a host of
other names. For instance bad credit history, poor credit history, impaired
credit history etc.
What is Bill Consolidation?
When someone transfers all their outstanding loans and debts to one loan
plan for bill consolidation then this process is called bill consolidation.
What are Charge backs?
When financial charges are reversed back in case of
fraudulent or dubious transactions they are known as charge backs.
What is Debt Management?
The standard financial definition of debt management is the assistance of a
third party to a debtor in managing their debts and repaying them.
What is a Money Market
The term money market is a generic one that describes a place where the
banks and other financial institutions lend, borrow and trade in money,
certificates of deposit, and other financial instruments.
How do I Remove Errors on my Credit Report?
There can be many problems but fewer can be more troubling than errors on
your credit report. This is because they are very hard to rectify and show
for a long time on your report.
What is Credit Counseling?
This is one of the alternates to the procedure adopted by people who are not
able to repay their debts, called bankruptcy. Filing bankruptcy is not so
easy any more these days.
What is a Wire transfer?
Money that is electronically transferred is called a wire transfer. There is
no actual exchange of cash in this electronic transfer only the balances in
the accounts are adjusted accordingly.
What is a sub prime loan?
If someone is unable to get credit through the regular channel of loans then
seeking a sub prime loan is the next option. These loans are meant for
people with bad credit records.
What is a spendthrift?
You could be earning what someone can all a dream salary. However if none of
it remains with you at the end of the month it’s completely useless. The
world and life are both unpredictable.
What is a Collateral Loan?
A secured loan is known as a collateral loan. Such a kind of a loan is
obtained from a bank or any financial institution and if the loan amount is
not repaid then the collateral can be sold off to obtain the amount.
What is a Credit Card?
It may seem like an insignificant little plastic card
that people seem to keep flaunting in their pockets but it is the end result
of a complex banking procedure. The people who have such a card are allowed
to purchase goods at credit upto a certain credit limit.
What is an ATM?
Earlier how many times did it use to happen that you
were shopping and ran out of cash? You had to miss out on something favorite
in the sale because you did not have a credit card also?
What is Debt Counseling?
At present times more than ever we seem to find
ourselves in debt. This debt could be of any kind, credit card debt or
whatever. Credit cards are one of the major reasons why people are finding
themselves in debt.
Many people view gift certificates as very convenient gifts. Gifts
certificates are a better option than giving someone cash, but at the same
time the recipient has the advantage of choosing whatever they like.
What is Cash Advance?
This is terminology for the credit card world where the card holders can
borrow actual cash against their current balances. For most of the card
users the actual advance that is available is just a small percentage of
their over all credit limit.
What is a Checkbook?
A checkbook is that which consists of a supply of preprinted banking checks.
It also consists of a registry that records the payments and deposits,
deposit slips for all incoming checks and currency and a sleeve that
contains a pocket for receipts.
What is a Money Order?
If there is a requirement of paying for something and one doesn’t want to
write a personal check then the option is to buy a money order. Such a
method of paying bills is still very popular today and many people prefer
this over a personal check.
What is a Credit Bureau?
An organization that tracks the credit histories and other related
information of individuals is known as a credit bureau. Whenever some
applies for seeking some form of credit like housing, employment etc then
the lender can check the borrower’s credit record on file with the credit
What is a Credit Card Balance Transfer?
When you are in debt applying for a credit card would be a foolish idea.
However there could be one exceptional scenario where in it could be a good
idea where credit card balance transfer is involved. This facility can be
availed by you if you have a mail box and a social security number.
What are Credit Reports?
Reports that contain the financial status of a person and his credit history
and which are used to determine the credit worthiness of someone are called
What is a Checking Account?
It is a federally protected account that is provided by banks and financial
institutions to business men etc for the purpose of depositing and
What are Prepaid Credit Cards?
After applying for a credit card some people are rejected. This happens
because of poor credit history. The major credit cards are used to make
hotel, airline, car rental reservations etc, so the problem with poor credit
history arises over here.
Should I buy a home or keep
Everyone wants to own a home instead of staying in a rented one but
buying a home is one of the important decisions that one takes in his/her
life. As it is associated with one’s emotions, family and personal reason,
its important to take the right decision at the right time. So before buying
one should be totally honest to himself and ask the entire related questions
that can affect the buying process including budget, requirements and the
purpose of use, whether personal or business.
Choosing Credit Cards
Credit card is a kind of retail system that lends money to the consumer
instead of deducting it from the account of the user unlike debit card. It
requires the balance to be full paid in each month or else charges interest.
Instead of interest rate credit card involves several other charges that
include Annual Percentage Rate (APR), transaction fees, annual fees and
several other charges. There are different credit cards issuing companies
that provide credit cards with minimum fees.
Payday "Cash Advance"
Bills are due! And you need money to pay off your bill within
weak or you have to fulfill your daily necessity, and then go for a
“Payday Cash Advance Loans”. Payday cash advance loans are the fastest
short-term financial loans that meet your sudden financial requirements.
This provides cash advance for some important work, as you can’t wait for
your paycheck or payday to arrive. So Payday cash advance loan is the most
preferred option which you can payoff as soon as you receive your paycheck.