INSURANCE

Congratulations! You’ve just been accepted for a personal loan. Getting a personal loan for any number of reasons is a big deal. It means you’ve been evaluated as a trustworthy borrower and you’re going to enjoy some of the most favorable borrowing terms you can get. But before you start celebrating, you should be sure you know how to repay your loan. There are a lot of things to think about, and you don’t want to get too far into this before you know the basics. What is a personal loan? First things first: what exactly is a personal loan? The American Bankers Association defines a personal loan as “a loan that is personal in nature, and not made to finance an investment or another transaction.” This definition makes perfect sense, but doesn’t do much to put the loan in context. Personal loans are often used to finance major expenses, like student loans and rent. Personal loans are also less formal than other types of loans. For example, personal loans often have better terms than ...

  Have you ever gone to a store and realized you don’t have cash or cards? If you answered yes, you know that moment of panic when you need to pay for something and are short a few dollars. The good news is that there are plenty of ways to build credit when you have no credit history. In this blog post, I’ll show you 10 ways to start building and improving your credit. 10 Ways to Build Credit First, let’s look at the benefits of building credit. Credit score Building credit builds your credit score, which means it makes it easier for lenders to approve your loans. Your credit score is one of the things you can use to get the best deals and discounts, like zero percent interest offers, even if you don’t have a credit score. Low payment history Even though credit cards and loans take time to start contributing to your credit score, low credit card payments make it harder to build a healthy credit score. One of the best ways to repair your credit and improve your credit score is to ke...