Jun 03
adminUncategorized bad credit loans, cash loans, military loan dangers
Bad Credit Military Loans
Is there such thing as a bad credit military loan?
Answer: Military loans are available to individuals with bad credit. However, the amount of money you qualify and the rate may vary depending on the individual situation. For example, the reason you’re applying for the loan may affect the type of loan you qualify for. If the loan is for travel expenses to aid in your arrival back home, you may qualify for a home leave assistance loan. In most cases, service members qualify for $1,000 at an interest rate of 9.95% APR. However, if the loan is for a personal luxury item (say an iPad) you may qualify for a Help loan- which is a one-time, non-rollover loan for $500. So, depending on what you intend to use cash loans for, will determine which types of loans you qualify for.
Read more on the dangers of military loans
Jun 01
adminUncategorized bad credit loans, cash advance, cash loans, personal loans
Financial Goals
Financial stages can be broken down any number of ways. Young professionals should focus on a couple things:
First and foremost, as a young professional, it’s important to repay your student loans as well as any outstanding cash loans. Because you likely don’t have a long credit history, repaying student loans will be one of your first opportunities to build your credit score. Also, realize that failure to make your payments on time will have a negative impact on your credit.
The second thing to remember is: save, save, save. For most young people, their first “real” job come their first big paycheck. Typically, the temptation to spend is far greater than the discipline to save. However, it is critical that you set aside an emergency fund for unexpected bills- so that you avoid costly loans for bad credit.
May 28
adminUncategorized cash loans, credit cards, credit history, personal loan
Cash Loans vs. Credit Cards
Cash loans versus credit cards. Which is better?
A cash loan is based on proof of employment and income. In most cases, lenders will not run a credit check or use a credit score to qualify applicants. These are ideal loans for bad credit. However, it’s important to understand that a payday advance is one of the most costly loan products available. Interest fees usually range within 300% to 600% or even close to 900%.
A credit card is issued based on your credit history, amount of debt, and ability to make the monthly payments. Like cash loans, credit cards typically have pretty high interest fees. However, if you can qualify to get a credit card- that’s a probably the way to go. Before applying for either product, be sure to shop around and compare rates.
Read more on the Fed’s website for credit cards
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