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- Should I use a cosigner?
A co-signer is advisable if you have a poor credit history or no credit history. Make sure that your co-signer has a better credit standing than you. The idea is that your co-signer's good credit will help improve your chances of qualifying by guaranteeing the loan in the event that you default ...
- Is Credit.com a lender?
Credit.com has a select group of lending partners, but we are not a lender.
- What will my interest rate be?
Your interest rate will depend primarily on three things: your credit score, how much you borrow, and the state you live in. Each state has different regulations governing interest rates. The general rule of thumb is that the better your credit score, the lower your interest rate will be.
- What are the types of student loan programs and what is the difference between them?
There are three main sources of financial aid for students: Loans: Must be repaid (usually in monthly installments over the course of 10-20 years) beginning when the student graduates or when the grace period ends. Grants: Gift money that does not need to be repaid. Grants are often provided by ...
- What is the difference between a cash advance and a personal loan?
An unsecured personal loan allows you to borrow between $1,000-$15,000. To qualify for the loan you must meet certain credit and income requirements.Collateral also may be required for the higher loan amounts. Apply for an unsecured personal loan. A payday loan or cash advance loan allows you t ...
- What are private student loans?
Private education loans, also known as alternative loans, are offered independently of the federal student loan program. A private loan is an option to consider after you’ve exhausted your more affordable federal and state lending options. You can usually borrow between $2,000 and $40,000 ...
- What can I do to increase the chances of loan or credit card approval?
To increase your chances of loan approvals in the future, we recommend that you pay your bills on time, use your accounts responsibly, keep your credit card balances low, and remove negative inaccuracies from your credit reports. If you do not already have a credit card, you can build your credi ...
- What is an unsecured personal loan?
An unsecured personal loan allows you to borrow between $1,000-$15,000. These loans can be paid off during the course of 1-6 years and normally do not require a collateral such as a car, a house, etc. To qualify for an unsecured personal loan, you must meet certain credit score and income requir ...
- What is peer to peer lending?
Peer-to-Peer, also known as Person-to-Person Lending, is a fairly new way for consumers to obtain financing without going through banks. The transaction occurs between a borrower and a lender or lenders who are other individuals -- not banks. Often many different lenders compete for your busines ...
- If I cosign for my friend will it lower my chances of obtaining a loan?
Strictly speaking, no. The fact that you are a cosigner in and of itself does not necessarily lower your chances of obtaining a loan in the future. However, even if the cosigned account is paid on time, the debt may affect your credit scores and revolving utilization, which could affect your abi ...
- What is a secured loan?
A secured loan is a loan that is assured – “secured” -- by collateral such as a car, a house, etc. It is different from an unsecured loan like a credit card balance, which does not require such collateral. Research different loan options and apply today!
- What is a cash advance loan?
A payday loan, or cash advance loan, is a short-term loan with normally no credit check required. With a payday loan you can borrow up to $1,000 to help you deal with any financial emergency. Payday loans are meant to be short-term loans and are designed to be repaid within one or two pay perio ...
- Why was I denied a loan?
A lender may deny your application for a personal loan if you did not meet one of the minimum requirements listed on the first page of the application or if: Your credit score is too low or you don’t have a credit history You do not live in the US You have a recent past bankruptcy You hav ...
- How do I qualify for a personal loan?
Credit.com currently offers two types of personal loans: Unsecured personal loans and emergency payday loans. Unsecured personal loans allow you to borrow between $1,000-$15,000. These loans are credit-based, long-term loans. Emergency payday loans allow you to borrow between $100-$999.99. Thes ...
- How much can I borrow?
This depends on what type of loan you apply for, but in general the better your credit score, the easier it will be to borrow more money. The maximum amount of money you can request with Credit.com when you apply for a personal loan is $10,000. If you are a homeowner, you could qualify for $15,000.
- I have bad credit what should I do?
You are not alone; millions of people have trouble with their credit. Before you can determine exactly how to improve your credit, you need to find out why your credit is poor in the first place. We recommend that you obtain copies of your credit reports and scores from all three of the credit ...
- Who is Credit.com?
Credit.com is a personal finance website dedicated to educating customers about their credit and matching them with appropriate products and services to fit their needs. Founded in 1995, we are based in San Francisco, California. Independently owned and operated, Credit.com has been the go-to so ...
- What is ChexSystems?
ChexSystems is a reporting company that tracks your banking history and provides this data to banks when you apply for a new checking account. Negative records, such as bounced checks, can be kept in their database for up to five years. If there are errors on your ChexSystems record, you can con ...
- What is principal?
The principal is the amount of money borrowed with a loan or the amount of money owed, excluding interest.
- What is the difference between assets and collateral?
Assets are items owned by a person that have cash value. These can include homes, cars, boats, savings, and investments. Assets and property can be used as collateral, or security, against a loan.
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