You don’t have to actually visit a bank to apply for a credit card. Need a cash back card or a travel rewards card, you can easily apply for it online. The information that you provide in the online application is verified against your credit score. Banks and credit card issuing companies have stringent requirements. Once you clear these, only then will they approve your card application.
Your credit score is gathered and your spending history is scrutinized. A high credit score (690 to 720) is an indicator, that you have the habit of settling your dues on time. This can be helpful when you are trying to get a new credit card. Plus, if you require any additional credit limit, a good credit history will always come to your rescue. So, the first step to ensure that your online card application goes through is by having a good credit score. If low, implement measures to improve your credit score.
Improving your credit score
Credit score can’t be increased overnight. It takes a good deal of time to change it to a positive value. Your application for a new credit card might have been rejected due to an unsatisfactory credit rating. You will need to put in a great deal of effort to ensure that you push up your score.
To do this, ensure that you pay all your bills on time. It can be your existing credit card bills, utility bills or any other debt. If you make sure that all payments are made on the due date. As your outstanding debts reduce, your credit score will improve. Also, do not make the mistake of withdrawing money from the card, if the bill is heavy. It’s best not to use your card till you settle your previous bills. Once the score displays an ascending trend, you will find it easy to gain approval with enhanced credit limits.
How to enroll for online credit card account?
Signing up is a one time, simple process. All you need is to provide your social security number and your bank account number. With a unique user ID and password you can access your credit card account online. You can choose to go paperless and have online credit card statements delivered to you. Plus, you can access transaction information, view and redeem your rewards, set customized account alerts and make payments anytime.
Credit cards are being used extensively. In fact, the economy has transitioned into a cashless economy. Banks and credit unions are moving the online way, and applying for credit cards online simplifies the process. If you are planning to apply for a new credit card, do it online and reap the rewards that come with swiping cards.
Let’s say you’re creating an investment portfolio, and have diversified investments. The earnings on your investments each year add to your wealth. You can take out these earnings as extra funds to use as you please. It is your money, after all.
However, if you put these earnings to work, you could increase your wealth over a few decades.
Compounding Your Earnings
The formula for calculating your earnings through compound interest is:
A = P (1 + r/n)^ (nt)
Where:
A = the future value of the investment
P = the principal, or the original amount invested
r = the annual interest rate in decimals
n = compounding frequency (the number of times that interest compounds per year)
t = the term or the number of years the money is invested
Albert Einstein is said to have described this formula as the greatest mathematical discovery of all time. This illustrates the power of compounding.
What Compounding Can Do For You
Compounding is when your earnings are reinvested and the interest becomes principal. Suppose you invested $1000 at 6% and it earns you $60. You then put this back in your investment and now the total principal is $1060. The next interest calculation will be on this amount, increasing your earnings ($63.60). You then add the new earnings to the principal (1123.60) and the next time you will earn even more.
Choose quarterly compounding rather than annual compounding. Now n will be 4 instead of 1. The interest applied each quarter would be less but increased frequency of interest will realize higher returns.
The Time to Grow
The term of the investment, the t in the formula, also plays a great role in influencing what you earn. Imagine two people invest the same amount, at the same rate of interest, but start at different times. There could be a big difference between the early investor earnings compared to the one who started later. Even a 5 year delay could make a huge difference. The longer the time you give your money to grow, the better the returns.
Diversified Investment
Now consider a portfolio with investments of various types. Shares in different companies, investments in debt securities, and savings accounts with compound interest. Combined together, the returns could be huge, even allowing for intermittent losses.
When you are creating an investment portfolio for your retirement, start young, preferably in your twenties. Invest in a mix of equity types. Create a few income generating investments for the future. For other investments, choose to reinvest the earnings. You will enjoy the power of compounding earning. Start early and realize the power of time.
It is easy to get loans today, but not easy to get low-interest loans. Today banks charge a huge amount of money in the form of interest, which will give you cold feet even before you meet the bank manager to approve your loan.
The truth is that lower your interest rate, the easier it gets to pay off your loan. There are certain loan strategies that you need to learn if you want to save up on your loan interest amount.
Read on to find out how you can get low interest on loans.
Repair your credit score
One of the best ways to get low-interest loans is to have a decent credit score. If you have bad credit and are planning to apply for a loan soon, try to repair the score as much as you can. You can do so by catching up with past payments that you are yet to clear. Another way to do so is by limiting your credit card use and spending less.
Irrespective of where you take the loan from, it is in your best interest to keep your credit score good from day one.
Pay attention to whom you borrow from
A common mistake many people make is that they go to big banks to get a loan from and settle for the first quote that they come across. This is the worst thing to do. Most of the times, big banks charge a fortune in the form of interest on small mortgage loans. Instead, you should check with local credit unions and small banks that are most likely to give you better low-interest loans.
Consider setting up an automatic payment
Banks appreciate when you as a customer sign up for automatic payment option. Thereby, you do not have to worry about the payment deadlines and personally making the payments. It is noticed that because the banks want people to pay their money on time, they come up with beneficial offers that will give you a lower interest rate if you set up an automatic payment option while taking a loan.
Search for online lenders
Today, there are many digital lenders who give you a loan at a much lower interest rate compared to the traditional lenders like banks and credit unions. Search for an online lender who is affiliated with a reputed physical financial institution if you are planning to consider online lenders as your option.
Take your time to do thorough research before you sign the fine print and take the loan.
Health insurance plays a vital role in America. Everyone eventually has some kind of health issue that they need to take care of, and it’s not always going to be cheap. You never know when you face unexpected scenarios or when you might be involved in an accident.
That’s where getting reliable health insurance pays off. The Affordable Care Act (ACA) highly recommends this. It even goes so far as to enforce this for everyone so that no one is left without coverage. Whether you’re a teenager or an adult with a family, above or below the poverty line, you should apply for health insurance through the state exchange program. But how do you know if it’s right for you? There are dozens of companies out there with over 150 health insurance plans.
Here’s a few factors you can take into consideration before applying for health insurance.
Monthly Premiums
Monthly premium is the amount of money or fee you pay every month towards your health insurance. If you have huge health issues, go for a higher premium. If you’re relatively healthy, go for a lower premium.
Deductibles
This is the amount of money you have to pay before the insurance company is willing to pay for you. Go for a higher deductible if you’re healthy and vice versa if you’re prone to getting sick.
Maximum Out-Of-Pocket
This is what you pay towards your own insurance out of your pocket. This is separate from deductibles and can go up to $1500.
Preventive Care Coverage
Check and see if your insurance covers preventive care and how often they cover every year. The frequency of checkups and visits can matter based on your needs.
Prescription Plan
If you take a lot of medication, go for an above-average prescription plan. You should also check whether the insurance covers the medications you’re currently using. There may some plans that don’t cater to your specific medical needs.
In-Network Vs. Out-Of-Network Coverage
In-network plans are usually cheaper and you can get them at discounted rates. Out-Of-Network plans go beyond state boundaries. This can be helpful if you travel around a lot.
Additional Things To Consider
Some other details you should consider before you decide to go for an insurance plan is your income threshold. For low income individuals, you can apply for subsidized plans through open enrollment or through the state exchange.
High-income individuals can also go for low-cost plans through state exchange. But if you have extensive health issues, an exhaustive medical coverage is recommended.
But remember that you actually do have to apply for a plan, since leaving yourself uncovered isn’t allowed under the ACA and you can be fined for that.
A business credit card provides a way to access funds for your business. This is particularly useful for small businesses. It might not always be easy to get loans. A credit card provides a way to make purchases on credit.
Business credit cards come with higher limits when compared to personal cards. Many business credit cards offer reward programs. Choose the card carefully, see if you can the rewards that are offered.
A small business can benefit from getting a good business credit card. It provides access to ready credit. You a need to have an excellent credit score to get the best cards. Business cards also let you issue cards to your employees.
Business cards offer points for purchases in different categories like office supplies, mobile phones, phone plans, travel etc. Some cards offer rewards exclusively in one category. When you’re looking for cards, see if you can the rewards that are offered.
If you intend to carry a balance on your credit card, look for cards with a low APR. Also look for cards with no annual fee.These types of cards may not offer many perks but they help you keep costs down by offering low interest rates. Understand their conditions about late payment penalties. In some cards, this might involve a higher rate of interest.
Numerous cards offer bonus points if you spend a certain amount within the first few months of getting the card. You can use these points towards purchases, mostly travel related.
Reward cards charge a high annual fee, though some may waive this in the first year. See if the benefits you get are worth the yearly payment. Some cards also offer an intro APR of 0% for a limited period of time. However, regular interest rate does apply when the offer period is done, so check the ongoing rate. If it’s too high, don’t be tempted.
For a very small business that you run from home, you may be able to manage with a personal credit card. However:
â A business credit card enables you to separate business transactions from personal purchases
â A small business credit card helps you build a credit record for yourself and your business
â Many business cards let you to issue cards with limits to your employees
â Business credit cards offer an easy source of credit to your venture
â Business cards help you keep track of expenses
â Many cards let you download statements onto your bookkeeping system
â You can choose low APR cards to keep your expenses down
â You can choose good rewards credit cards to earn rewards on your regular purchases
â Many cards offer travel rewards that can help you save a lot on business travel expenses
â Many business credit cards also offer 0% Fraud Liability on unauthorized usage
Parent student loan, which is also referred to as PLUS loan or parent PLUS loan is a type of student loan that is offered to the parents of students who are enrolled in a graduate or a professional course or in post-secondary institutions.
Taking a parent student loan is a major decision, as it can affect your finances for at least a decade.
Hence, it is crucial to do your research and understand parent student loans completely. Following will help you understand better about parent student loans.
There are certain eligibility requirements to qualify for a parent student loan:
Your need for financial aid will be evaluated on the basis of information you provide on Free Application for Federal Student Aid (FAFSA).
To get a parent PLUS or a parent student loan, the parent should have a good credit score. You can be denied of a parent PLUS loan if you have an adverse credit history due to bankruptcy or other delinquencies.
This goes without saying that you have to be the parent of the dependent college student. This can be your biological or adopted child or stepchild in some cases who is enrolled in a course or college. You should be paying for more than half of their support, living expenses included.
According to federal student aid office, you are entitled to get a parent student loan if your child has college costs that cannot be covered by other financial arrangements such as grants or the child’s own student loan.
Parent student loans will have some federal student loan benefit. For instance, the loan repayment options include:
Deferment or forbearance due to financial hardship or unemployment.
The parent might be entitled to get public service loan forgiveness for any remaining balance post 10 years of on-time payments.
Through the income-contingent repayment plan, the balance amount can be waived off after 25 years.
Just like other loan options, parent student loan also has a few disadvantages. For starters, unlike undergraduate student loans, parent student loans do not defer payment of the loan until 6 months after the student graduates and leaves the school. The repayment of a parent student loan kicks in once the loan is disbursed.
Parent student loans also come at higher costs. They carry higher interest rates and loan fees. The interest rate recorded for the year 2017-18 was around 7 percent with a loan fee of around 4 percent.
Private student loans are more consumer-friendly as they offer terms that are as good as federal student loans. Private parent student loans are offered by private lenders which include banks, credit unions, and financial tech companies.
If your home has a little equity, or if you owe more mortgage than your what home is worth, then it can be difficult for you to find a lender to refinance. HARP can be a one-stop solution for borrowers who have never made late payments against their mortgages and have loans owned by Freddie Mac and Fannie.
Home Affordable Refinance Program (HARP) was introduced in 2009 by the Federal Housing Finance Agency as a part of making homeownership affordable. It was introduced in 2009, and it enables borrowers with little or no equity to refinance into mortgages that are more affordable and do not require additional mortgage insurance.
HARP specifically targets borrowers who have a loan-to-value ratio that is less than or equal to 80 percent, and those who have limited or no delinquencies over a period of the year prior to refinancing. There are significant changes made to the program since it was first introduced. The requirements for property appraisal were waived under certain circumstances and risk fees for borrowers who selected shorter amortization, i.e., spreading payments over multiple periods, were eliminated.
Without requiring a minimum credit score, HARP lets you acquire mortgages with very low interest rates and change from adjustable to fixed-rate mortgages.
Once you qualify to refinance your home loan through HARP, you will go through a series of applications approval and closing process on your current mortgage. Outlined below are steps that will help you determine if the refinance program meets your specific needs. Here are steps to get started.
Step 1
Gather all your financial information such as mortgage statements such as second mortgage and your income details.
Step 2
Once you have gathered all your financial documentation, contact your mortgage company to check whether they have an approved HARP lender. Your lender might already have your loan file since you are their current customer. However, you might be asked to provide necessary information to verify the current source of income.
Once you have gathered all the information from your mortgage company, contact a HARP lender. You will find a list of approved HARP lenders on the official website. These lenders will help you determine if you are eligible for HARP.
Step 3
Once you have been approved, go through the application and closing process.
If a lender says you are not eligible for a refinance, contact a HARP specialist to find other ways that can make you eligible for a HARP refinance program.
2017 has arrived with a new administration in the country, and many of us are aware of changes in financial policies. Market conditions may fluctuate and inflation could be affected.
But these changes should not affect your money management strategy. If you haven’t set a lump sum aside for investment, now is a good time to start.
If you are not averse to taking risks, there are many investment options on the table. Take a look at these, and evaluate which of them best suits your needs. Before following any of these options, take advice from a certified financial adviser.
Mutual Funds
Mutual funds can yield great returns. If you are uncertain of how best to invest, utilize the services of a professional fund manager. Your investment will appreciate over time, and give good returns if the market is positive.You can start with a small amount, and then add as you proceed, aiming for higher returns. But remember, take the well-researched advice of your fund manager on board.
Certificate Of Deposits
If you want to take absolutely no risks with your money, then CDs are the best option. You can use this scheme from any bank or financial institution. You can invest in short or long term schemes, depending on your needs. You are guaranteed return of principal amount if you produce a certificate of deposit. This CD should be legitimate, from a recognized financial institution or insurer.
Open A Savings Account
A savings account safely parks your money, accruing low interest and keeping it accessible. This is a low risk, low income investment option. Many banks and financial institutions do not charge any account opening fees. Before you open a checking account, it is important that you consider the reputation of the bank. Look into the customer reviews and credibility of the institution that you choose.
Government Funded Securities
One of the best investment options for your money is government funded securities. Their returns may not be as high as other investments, but these securities ensure that your money remains safe. If you have money that you can invest and forget, then this is a good option. Over a period of time, small amounts of interest accrue, adding to your principal.
Take Out A Life Insurance Plan
Life insurance safeguards your family if the unthinkable happens. Approach an insurance broker that offers coverage that meets your needs. You can compare policies online, as every policy has varying options in terms of what is covered. These tips are a mix of both low and medium risk investment options. You can opt for the ones that your financial adviser suggests or suits your current needs. Look at each factor, make your money work for you, and give you a safe and secure future.
There are a number of distinguishing factors when you compare the Apple watch to other popular variants by major tech corporations. Apple watch manages to shine across the board when it comes to the deciding factors which will make you believe in the brand and go for an Apple watch at the end of the day.
Here are nine factors which separate the apple watch from the rest:
Display: Apple watch comes with a stunning Retina display supported by a sapphire screen. While other brands feature color-e-paper, LCD, and even P-OLED display, Apple watch still is the better option.
Battery: On a single charge, the Apple watch can last for up to 18 hours. Apple also has USB charging which will enable you to plug it into any USB port and leave it overnight. Other brands are powered by regular batteries which can range from 320 mah to 410 mah.
Processor: No doubt the central processing unit is important, even for a smartwatch! Which is why most smartwatches run on cortex M4, TI OMAP, Snapdragon processors among many others. The Apple watch has its own Apple S1 processor to power the smartwatch.
Water resistant: Among other manufacturers, the design and overall product of Apple watch make it a better water resistant option.
Dimensions: Apple watch also happens to be one of the slimmest and sleek variants of smartwatch technology when compared with competitors weighing at just over 50 grams.
WiFi enabled: The Apple watch is WiFi enabled which makes it easier to connect to any open network. Accessibility is easy with an open WiFi network.
Operating system: While android wear and OS power most smartwatches, the Apple watch has its very own Watch OS.
Additional features: Apple watch has many additional features which makes it stand out from other smartwatches like Siri support, accelerometer, barometer, heart rate monitor, Apple pay and more.
If you take aside a moment and think of the foot traffic that your car sees throughout the year, you will realize how important floor mats are. The floor mat protects your car from everything right from the mud you bring in the car by stepping inside with your muddy boots or the occasional spillage of coffee that you could not avoid.
Buying nothing but the best floor mat thus becomes imperative. While it might not seem that big of a deal, the truth is that you need to keep in mind various key factors to buy the best floor mat for your vehicle. Whether you want to go for rubber floors or carpet, type of material, the perfect size fit, durability, and last but not the least, the price of the floor mat are some important criteria that help in buying the best floor mat.
If you are still confused about which floor mat to buy for your vehicle, read on to know about the top three best floor mats that car owners are currently obsessing over.
Firestone FS-1945
One of the main concerns that many car owners have when it comes to rubber floor mats, is that after a while they start to stink, especially during summers. If you have the same concern, then you don’t have to worry anymore because the Firestone FS-1945 floor mat is made of an odorless rubber material. This floor mat is known for its deep channels that trap all kinds of debris, its anti-skid backing design, sturdiness and its durability.
Another reason why you should buy this floor mat is that it has a universal design, which means that you can use it for any type of car after some manual trimming. It is also easily washable and all you need is a mild soap and water to make it look new as ever. The Firestone FS-1945 costs approximately $41.75 and falls under the high-end floor mats available today in the market. If you don’t mind spending a little extra and investing in the best floor mat, then this is hands down your best option.
Armor All®
The most talked about feature of these floor mats is their low price. These mats cost you just around $20, making them one of the cheapest floor mats amongst the other competitors. It comes in a pack of four pieces and can be easily trimmed to fit your car model. The mat also comes with advanced anti-slip backing, which ensures that the floor mat stays in one place. These mats are durable and if you maintain them properly, they will last you for quite a few years.
So, if you are looking for an affordable floor mat that will protect your vehicle from all kinds of weather and at the same time add to the aesthetics of the interior of your car, then Armor All® is what you should check out.
BDK Metallic Rubber Floor Mats
When it comes to floor mats, it is not easy to find something that is sturdy but at the same time stylish. However, the BDK floor mats are an exception to this. These mats come in two colors like red and black, purple and black, and blue and black. You also have the option of choosing the metallic cover if you want to give your car the extra edge it needs. These mats are also ranked high for the sturdiness and the durability as they make sure that if you spill something, it does not seep in the vehicle’s original carpet.
This mat is known for its deep channels that protect your car from everything right from snow or mud to any other kind of debris and its raised edges give extra protection to your car. Another reason why you should seriously consider buying this floor mat is the heavy-duty rubber material that makes cleaning stubborn stains seem like a cakewalk. At the price of around $35, this floor mat undoubtedly is one of the best steals.
Before buying, just make sure that you research, read the customer reviews, do a comparative study, and only then choose the best floor mat that will suit your vehicle perfectly.
In the arena of business, the common public has seen much of change and evolution in the last decade or so than it has seen in the last century. Business and commerce have entered an era of spontaneous revolution like it has never before. Modules governing the rules of engagement in business have changed along widths and breadths of the realm of existence.
The modern world is like an inverted mirror to what the world used to be at one point of time. Business, the term itself meant massive understandings and sizeable investments, a combination that was not too easy to find or comprehend easily. It needed a huge deal of workmanship and certain financial background to facilitate the beginning of any kind of company.
Well, this used to be the case, thankfully for the greater good of the ever-evolving economy, creating a business has become a job which can be made into reality with lesser hardship and tantrums. Possibilities have multiplied in all directions possible and have been given way to make it simpler for young minds to invest in unchartered territory.
Having derived its existence of what used to be known as cottage industries, small scale businesses have given way to small investors to create a masquerade of employment and new ideas.
The transition of mind frame from necessarily having a magnanimous idea for a business effort worked for a good part of history worked for the then economy, but as everything else around us, much have changed. The economy, the trend under which the generation is driven, and the interest points where the crowd is pulled for employment, all have seen massive evolution. Keeping this information at par is a bit usual and normal for the business structure under which an economy survives to change.
The human logic in this era has evolved alongside other obvious changes. It has become a common thinking that small scale business would mean, small investment and from a strictly business point of view a smaller risk of loss. However, the magnitude in which the small business can make profit is not dependent on the scale in which the business begins. All and any small-scale ventures has full bloom scope of making it big, in terms of profitability and overall growth in the market.
All of the facts mentioned above are not uniform throughout scales of business types and projects. It may differ in relevance to each parameter using which businesses are assessed. Some investments regardless of size, yield more or less the same category of profit over a certain period of time, while some give an opposite of a neutral result. What is most important is the motion in which the plan for the small business is executed using the amount laid on the table as seed money.