What are interest rates? An interest rate is an amount charged by a lender when he or she lends money, whether the bank loan is to an individual or to a business. Interest rates fluctuate according to, among other things, economic conditions, supply and demand, and the prime rate, which is set by the Federal Reserve. Typically, the interest rates charged to businesses are, for example, “prime plus one” or “prime plus three.” This means that the lender is charging the borrower the prime rate plus 1 percent, or the prime rate plus 3 percent, and so forth. Where do interest rates... Read more »
I need a loan online – Questions and Answers
What You Should Know About Online Loans If you need a loan, you can find exactly what you are looking for online. Dozens of lenders in your area as well as nationwide are waiting to answer your questions, process your applications and get you the money that you need quickly. In some cases, you may have your money within minutes without a credit check. However, you have to understand some of the risks involved so you can make the right decision the first time. The ability to get financing online came come in many forms today including mortgages, personal loans, and auto finance options.... Read more »
Google banning payday loan ads from its Adwords platform
On Wednesday, May 11, 2016 Google announced that it would no longer serve ads for so-called “payday loans” and other loans with high interest rates. This announcement has rocked the financial lending world and was immediately criticized by those within the payday lending industry – such as Amy Cantu, spokeswoman with the Community Financial Centers Association of America, a trade group representing payday lenders – who felt that Google was treating their businesses unfairly, calling the move “discriminatory and a form of censorship.” Why Is Google Doing This? In the blog post... Read more »
What are the best credit card offers of 2016?
The best credit cards come with plenty offers that you can’t get with any other product or bank loans. Such offers range from things like a huge sign-up bonus, price protection, travel insurance, and cash-back rewards. Listed below are rankings of 2016’s best credit cards. Discover it® Cashback Match™ As a new card member, they will match up all the cash back you earn at the end of the first year. You can earn up to 5 percent cash back in the new bonus in categories such as restaurants, gas, Amazon including others. There is also unlimited 1 percent cash back on all other purchases.... Read more »
Auto loan delinquencies for sub-prime loans hits 6 year high
Surging delinquencies on auto loans accompany the recent boom in auto sales. Title loans for automobiles are also becoming increasingly popular among U.S. consumers. Securities-backed subprime auto lines have become more attractive as dealers depend increasingly on customers with poor credit to average records. As the loans soared to their highest level since 2009, they have become the only hope for many people who need a motor vehicle to work and care for their family. Sub-prime lenders charge above-average interest rates as compensation for the risk they take financing drivers with... Read more »