Personal Finance

Banks Editorial Team

December 6th, 2018

How to Improve Your Credit Score by 100 points as Fast as Possible

Do you wish you could improve your credit score by 100 points? Your credit score is one magic number that could have either a positive or negative impact on your financial life. Finding it through a credit report and grasping the ways in which it can be improved is, therefore, a very important task. Improving […]

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Banks Editorial Team

December 4th, 2018

Credit Score Range: Where Are You?

When it comes to understanding your credit score range, there are two ranges that are commonly used by lenders: FICO and VantageScore. Both use the same calculation and information, but the categories they utilize are different. The FICO score categories are Exceptional, Very Good, Good, Fair, (Very) Poor, and No Credit. VantageScore’s categories are Superprime, […]

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Banks Editorial Team

December 4th, 2018

How to Build Credit

Learning how to build credit can be difficult, but through opening a secured credit card, becoming an authorized user on someone else’s card, and taking out a credit-builder loan, you can be on your way to building a great credit history and a brighter financial future. First start by learning what your current credit score […]

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Banks Editorial Team

December 3rd, 2018

What is a Good Credit Score?

While there are various different credit reporting tools available, most lenders and creditors use your FICO Score and VantageScore to make most lending decisions. Although there are minor variations in determining what is a good credit score, most lenders agree that the average benchmark of 700 serves as a good guideline for determining a good […]

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Banks Editorial Team

December 2nd, 2018

What is a Bad Credit Score?

A bad credit score is a nightmare for your financial dreams. Maintaining a minimum score of 630, below which you are deemed risky, is very important to enjoy the benefits of the social structure and to lead a smooth life. Several benefits, ranging from credit card to home insurance, require you to make sound financial […]

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Banks Editorial Team

November 27th, 2018

Discover Personal Loans: A 2018 Lender Review

Discover Personal Loans is a personal loan service offered by Discover to United States citizens or immigrants with a permanent resident permit that are 18 years of age and above, having good credit records and in need of debt consolidation. They offer open-ended loan amounts and repayment terms that will be suitable for the borrowers, […]

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Banks Editorial Team

November 26th, 2018

What if I Miss a Payment on a Personal Loan?

There are several negative consequences that will happen if you miss a payment on a personal loan depending on the amount, your agreement with the bank, how long the loan has been in default, and other factors. For one, late fees will be charged based on the information in the credit contract. Your credit score […]

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Banks Editorial Team

November 15th, 2018

What Is A Personal Loan?

Often, people ask what is a personal loan and end up getting all sorts of answers that do not answer their question. Understanding personal loans, their features, and how they work ultimately improves the way people make decisions about their finances.   What is a Personal Loan and How Do You Apply for One? A […]

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Banks Editorial Team

June 30th, 2018

Will Applying for a Loan Affect your Credit Score?

Applying for a personal loan can affect your credit score. However, it is only one of several factors which can contribute to lower or increase your credit score. Your FICO credit score is affected to a much greater extent by your payment history, credit history, and the total amount of your debt. The effect of […]

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Banks Editorial Team

June 28th, 2018

What Happens to a Personal Loan when Someone Dies?

Defaulting is the inability or failure to pay the interest or principle on an existing loan when due. A personal loan when someone dies cannot be defaulted and is either paid through the deceased person’s estate or passed down to dependents in unique cases. In the United States, being late on a loan repayment, defaulting, […]

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