Finance Globe

Borrowing money from big banks isn’t free. Everyone pays interest on a loan, but people with lower credit scores typically have to pay more interest than borrowers with better credit. Banks assign interest rates to credit cards and loans based on the borrower’s credit score. Generally, people with low credit scores end up with higher interest rates and ultimately a higher cost of borrowing. Credit Score Impact on Mortgage Rates If you’re planning to apply for...

Your credit report includes a record of every business that’s checked it within the past two years. These credit inquiries, typically made when you make an application that requires a review of your credit report, make up 10% of your credit score. Too many credit inquiries can cause your credit score to drop and lead to denied credit applications. Who Can Check Your Credit Report? Usually, a business has to get your permission before checking your...

While saving money often means settling for less than the best, with growing your own produce it’s a different story. Planting a garden often allows you to get the freshest fruits and vegetables for the lowest cost possible. And with spring arriving, the time is now. Better produce As a home gardener you can choose varieties known for their outstanding flavor or unique colors rather than settling for the varieties at the grocer’s, which farmers choose...

A good budget is part of the foundation for financial success. A budget is nothing more than a plan for how you’re going to spend the money you earn. It helps you predict income gaps and helps you see the best way to use your money. You can use a budget to guide your everyday spending and to meet financial goals but you have to set it up correctly. Start with a positive attitude about budgeting....

Tired of tossing credit card offers every time you check the mail? There’s way to stop most credit card offers temporarily or even permanently. Background on Pre-Approved Credit Card Offers For many of their prescreened credit card offers, credit card issuers use lists from credit bureaus. Credit card issuers ask the bureau to send a list of consumers who meet certain criteria, perhaps those with a certain amount of debt or those with a specific number...

It’s a widespread myth that you have to carry a credit card balance to build a good credit score. In reality, the opposite is true. Carrying big balances on your credit card could actually hurt your credit score. How Credit Scores Work Credit scores are calculated based on five key factors and some carry more weight than others. Payment history is 35% of your credit score, amount of debt is 30%, age of credit history is...

With anything regarding your finances, it’s always prudent to be on guard against crooks who want to trick you out of your hard-earned money - and that includes during tax time.The Internal Revenue Service sent out a warning this tax season about a particular tax scam that often targets seniors, those who have little or no income, and members of church congregations. Promoters of the scheme promise tax refunds to people who normally aren’t required to...

The FTC received 1.8 million consumer complaints in 2011. Scams related to prizes, sweepstakes, and lotteries were third on the list of top complaint categories with more than 100,000 complaints. Identity theft and debt collection were the top two complaint categories. Falling for a sweepstakes scam can be costly; you might be out of hundreds or thousands of dollars. Thieves may even scam you out of enough personal information to commit bank fraud or identity theft,...

The most commonly given advice regarding credit card annual fees is that you shouldn’t pay one. However, you may be passing up a great credit card deal if you swear off credit cards that charge a fee each year. At least look at the perks before you decide an annual fee credit card is a no-go. Why Would Anyone Pay an Annual Fee? Sometimes consumers accept an annual fee because the credit card perks outweigh the...

Credit reports play a big part in your financial life, but they’re still a mystery to many people. Here’s a complication of some basic things you should know about credit reporting. There are more than three credit reporting agencies. While Equifax, Experian, and TransUnion are the most mentioned (and largest) credit reporting agencies (better known as credit bureaus), they aren’t the only companies in the United States who compile and distribute credit reports. There are dozens...