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What is a Credit Score?

By |2020-03-25T14:06:09+00:00March 25th, 2020|Credit and Credit Reports, SmartMoney Online|

Original Post By Julia Kagan Investopia What Is a Credit Score? A credit score is a statistical number that evaluates a consumer's creditworthiness and is based on credit history: number of open accounts, total levels of debt, and repayment history. Lenders use credit scores [...]

Credit Unions vs. Banks: How to Decide

By |2020-03-23T20:57:54+00:00March 23rd, 2020|Banking Basics, SmartMoney Online|

Original Post By Devan Goldstein Nerdwallet If you’re choosing between credit unions and banks, look at key differences like profit models, interest rates and branch access to figure out which aspects are most important to you. Why choose a credit union? Typically has higher interest rates on deposits. Emphasis [...]

Certificate of Deposit: What is a CD?

By |2020-03-23T19:06:44+00:00March 23rd, 2020|Banking Basics, SmartMoney Online|

CDs can have higher rates than standard savings accounts, but your cash isn't as accessible. What is a CD? Definition: A certificate of deposit, or CD, is a type of federally insured savings account that has a fixed interest rate and fixed date of withdrawal, [...]

Understanding Your Credit Report

By |2020-03-23T18:56:26+00:00March 20th, 2020|Credit and Credit Reports, SmartMoney Online|

When you apply for a loan or a credit card, your credit score is one of the things a lender will consider in deciding whether to approve you and what rate you qualify for. Scores represent your financial history and range from 300 to 850. Having [...]