You’ve decided on a legitimate reason to get a personal loan and determined that you’re probably eligible to apply. You’re now ready to begin the next phase of the loan application process: researching lenders. Naturally, you’ll want to look for lenders offering…
Interest rates are near historic lows due to the COVID-19 pandemic’s economic impact, which has brought whole sectors of industry to a standstill. Economists and policymakers expect rates to remain low for the foreseeable future. How can you take advantage…
Consumers with strong credit scores have a vast assortment of rewards credit cards at their fingertips, from no-frills retail cards to ultraluxe travel cards with eye-popping annual fees. Let’s take a closer look at what these cards have to offer…
If you’ve ever heard that credit applications “ding” your credit score, then you understand that the very act of applying for a loan or credit card can hurt your credit. But how much does it hurt? How long do these…
We get mixed messages about debt. Mortgage loans are practically a given in the journey toward homeownership. Credit card spending can boost your credit score. Having no credit history actually limits your financial options. Yet, Americans are overwhelmed with debt…
You’re at home getting ready for work when the phone rings. Instead of wondering idly who could be calling at this hour, you tense up and break out in a sweat. You’re pretty sure you know who the caller is:…
Debts fall under two broad categories: secured and unsecured. The difference between the two lies in whether the borrower puts up collateral for the loan. Although the difference is a simple one, it has profound implications for the loan’s pricing…
If you have multiple sources of debt, it can start to feel like no amount of monthly payments is enough to pull yourself up and out of it. There’s a reason people refer to debt as a slippery slope: Getting…
Your credit score plays an outsize role in determining your eligibility for new credit (creditworthiness) and cost (your interest rate) of any credit lines or loans you’re approved for. Your credit score can also affect aspects of your life not directly…
At first glance, credit cards’ payment flexibility seems like a great deal. Unlike installment debt, such as home loans or personal loans you might get from SoFi, credit cards don’t have fixed monthly payments. If you choose to carry a…
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