Latest Finance Articles and Promotions

Just How Many FICO Credit Score Models and Versions are There?

Multiple credit score gauges and indicators from poor to goodFICO, the most commonly used credit score by lenders and creditors, has been around since 1989. Since that time, the credit scoring company has developed and implemented several iterations of the FICO credit score, many of which are still used in evaluating credit applications today. As consumer behaviors change and lending requirements shift, so goes the credit scoring methods used to evaluate new credit applications. Because of these countless algorithmic changes, you have more FICO scores than you may think.
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Posted on December 29, 2017 by Melissa

The 5 Worst Traveling Days in the United States

Train traveling on track with blue sky, ocean water and green treesThere was a time when travel, specifically hitting the skies, was reserved for the well-to-do. As increased demand from consumers led to greater supply, the need for amassed riches in order to get out of dodge tone down drastically. However, traveling by land, sky, or sea comes with other impediments above and beyond the cost considerations alone. During certain times of the year, traveling from one destination to the next involves overcrowded airports, delayed flights, traffic on the highways, and millions of grumpy passengers no matter which direction you’re headed. To help maintain your love for travel, or just your sanity during the trip, it’s beneficial to be aware of the five worst traveling days in the United States – and avoid them like the plague.
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Posted on December 28, 2017 by Melissa

Getting a Personal Loan After Bankruptcy

Underwriter writing personal loan and stamping approvedThe dreaded word bankruptcy. This word has carried a negative connotation with it for some time. The truth is many people file for bankruptcy. Financial hardships are just a part of life. In 2015, a total of 911,086 bankruptcies were filed, so don’t think you’re alone in this. There is a life to be had after bankruptcy if you manage to fix the mistakes of the past.
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Posted on December 27, 2017 by Ryan

Indiana Members Credit Union offering $1,000 off Closing Costs on New Mortgage Loan

Indiana Members Credit Union logoBuying a home comes with a variety of costs, including the down payment, moving expenses, and closing fees. While most prospective homeowners save toward a down payment and moving early on in the process, closing costs can be a pricey additional to the mix. On average, new homeowners pay between $1,700 and $2,500 for finalizing their mortgage loan. Fortunately, many financial institutions provide some assistance in keeping this required expense at a manageable amount.
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Posted on December 26, 2017 by Melissa

Tyndall FCU (FL) offering $450 off Closing Costs on a new Mortgage Loan and $50 Visa Gift Card

Tyndall FCU logoManaging all the expenses that go hand in hand with buying a home can be a daunting task. Buyers are often required to bring a down payment to the table, along with closing costs to cover the one-time fees associated with transferring ownership of a property. Closing costs can range from a little more than $1,000 up to several thousand, depending on the circumstances surrounding the home purchase. However, finding the right financial partner for a new mortgage can make all the difference in reducing the out-of-pocket expense of closing costs.
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Posted on December 17, 2017 by Melissa

What the Future of Cryptocurrency Looks Like

Golden Bitcoins atop black keyboard with blue and red graph backgroundSince the announcement of the first cryptocurrency, Bitcoin, just a few years ago, the market for digital currency has expanded tremendously. Recent reports highlight a growth of nearly 900% over the last two years alone, meaning a single Bitcoin rose from $255 to an astounding $2,500. It is hard to deny this exponential increase in value, especially when evaluating cryptocurrency as a viable investment option in addition to its purchasing power in the mainstream economy. However, the future of cryptocurrencies like Bitcoin is on shaky ground for several reasons.
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Posted on December 15, 2017 by Melissa

Breaking Down Your Fico Credit Score

Vector hands holding two smartphones with credit score app on screenOh great. Another person is about to lecture you about the importance of fiscal responsibly and credit scores. Take a deep breath and relax. We’re going to cover what credit scores actually are and how to use this information to increase your own. Whether you like it or not, your credit history is of extreme importance. It is nearly impossible to be approved for a credit card, a mortgage or a decent auto loan without a solid credit score to back you up. With the right knowledge, you’ll be able to implement new behaviors and strategies to grow your credit quickly and reach the next level of financial independence. How to get a copy of your credit report and score for free.
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Posted on December 14, 2017 by Ryan

How to Mine, Buy and Use Cryptocurrency

Business man with lots of bitcoins on tabletIn a previous article, we discussed what cryptocurrency is and a brief overview of its history as a newcomer to payment methods. While there is much buzz surrounding cryptocurrency and its growing market, understanding how it is acquired and then subsequently used in real life transactions is a bit challenging. Unlike fiat or physical currencies, like the dollar or pound, cryptocurrency is all managed through a network of high-powered computers, making it more complex than its more traditional counterparts. Here’s how one can acquire cryptocurrency and then, use it to pay for goods and services.
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Posted on December 11, 2017 by Melissa

Green Monday: History, Economics and Predictions for 2017

Discount percentages for Green Monday holiday shoppingJust about everyone has heard of Black Friday and its digital counterpart, Cyber Monday, but most are woefully unaware of the “other” big shopping day of the year: Green Monday. Affectionately referred to as Cyber Monday 2, the second Monday in December each year is deemed Green Monday by major retailers and businesses around the world. The name originated in 2007, so it doesn’t have as long a history as Black Friday or Cyber Monday. However, it is the second biggest day of holiday shopping online of the year.
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Posted on December 8, 2017 by Melissa

New Credit Builder App Lenny Helps You Build Your Credit Score

Lenny Credit logonew app is making headlines with its innovative approach to improving users’ credit score. Lenny has launched a hybrid peer-2-peer (P2P) and credit building app that is directed towards millennials. By utilizing P2P initiatives, Lenny helps users increase their credit score and take more responsibility over their personal finances. Building your credit is one of the most important factors in personal finance. That little number on your credit report sets the interest rate on just about every loan you will ever take. The difference between an average credit score and an excellent credit score could be the difference between thousands of dollars in fees and interest payments, or just hundreds of dollars.
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Posted on December 7, 2017 by Ryan