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4 days ago | 
money.usnews.com | Bob Musinski |Melanie Lockert |Sebastian Oliveira |Whitney Blair Wyckoff
Key Takeaways A credit-builder loan helps consumers with a limited or blemished payment history establish credit. Customers make monthly payments, which are reported to credit bureaus. At the end of the term, they receive the loan proceeds. Credit-builder loans aren't widely available at major banks, but there are a range of options at credit unions and online lenders. Building a credit history isn't as simple as securing a conventional loan and paying it off.
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2 weeks ago | 
money.usnews.com | Bob Musinski |Erika Giovanetti |Emily Hayes
How Do Personal Loans for Students Work? When you obtain a personal loan – whether from a bank, credit union or online lender – you usually get the money upfront and pay in monthly installments for as long as seven years. Personal loans can total as much as $100,000, but the amount allowed depends on your debt-to-income ratio and overall creditworthiness. Personal loans can be used for a variety of reasons, ranging from home repairs to debt consolidation.
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1 month ago | 
money.usnews.com | Bob Musinski |Emily Roth |Erika Giovanetti
DisclaimerReady to find a student loan? Compare rates from private lenders to find the right student loan for you!Check My RatesPowered by Credible Disclaimer Lender View DisclosureLearn More College Ave4.4Fixed APR 6.99% to 13.99% with autopayVariable APR 6.99% to 13.99% with autopayMax. Loan Amount $500,000Min. Credit Score Mid 600s Read Review Lender View DisclosureLearn More SoFi®4.6Fixed APR 4.49% to 9.99% with all discountsVariable APR 5.99% to 9.99% with all discountsMax.
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Nov 15, 2024 | 
money.usnews.com | Adriana Ocanas |Bob Musinski
Dear Clever Credit,I am a 20-year-old college student with a Discover it® Student Cash Back card. My credit score is 774. I want another card that will give me better rewards for what I actually buy. My biggest expense is groceries. I applied for the Blue Cash Everyday® Card from American Express and was denied. I think it was because of my annual income, which is around $15,000. What would you recommend for my next card? I want one that I can keep for years so I can build my credit history.
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Oct 7, 2024 | 
msn.com | Bob Musinski
Continue reading More for You
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Mar 5, 2024 | 
money.usnews.com | Dawn Papandrea |Emily Hayes |Jessica Merritt |Bob Musinski
Key Takeaways The Consumer Financial Protection Bureau announced a new rule capping late fees at $8 for credit card issuers with more than 1 million open accounts. Once in effect, it's estimated that the new rule will save people who make late payments an average of $220 per year, totalling more than $10 billion overall. The rule also stops the automatic annual inflation adjustment so that issuers cannot raise the $8 late fee in subsequent years.
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Feb 29, 2024 | 
money.usnews.com | E. Napoletano |Mark Evitt |Emily Roth |Bob Musinski
Key Takeaways The break-even point on a mortgage lets you know when you'll earn money from refinancing. To calculate your break-even point, you'll need to divide your refinancing costs by your monthly savings. Even if you won't break even, it still could make financial sense to refinance in certain situations. There may come a time in your homeownership journey when you wonder if it makes sense to refinance your mortgage.
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Feb 15, 2024 | 
money.usnews.com | Bob Musinski |Erika Giovanetti |Emily Roth
Lender View DisclosureLearn More Splash Financial4.7Fixed APR 4.96% to 9.99% with autopayVariable APR 4.74% to 9.99% with autopayMax. Loan Amount No MaximumMin. Credit Score 640 Apply Now Lender View DisclosureLearn More Laurel Road4.3Fixed APR 5.44 to 10.39% with autopay*Variable APR 5.49% to 10.59% with autopayMax. Loan Amount No maximumMin. Credit Score 660 Apply Now Lender View DisclosureLearn More Earnest4.8Fixed APR 5.19% to 9.99% with autopayVariable APR 5.72% to 9.99% with autopayMax.
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Feb 6, 2024 | 
money.usnews.com | Jessica Merritt |Bob Musinski |Erika Giovanetti
Best for loans of up to $100,000SoFi4.6U.S. News RatingAPR8.99% to 29.99%Minimum FICO Credit Score680Loan Amount$5,000 to $100,000Check RatesFrom Our PartnerMore DetailsWhy We Picked ThisSoFi, short for Social Finance, offers personal loans of up to $100,000 with terms between two and seven years. The lender was founded in 2011 and offers personal loans with no origination fees in exchange for higher interest rates.
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Jan 30, 2024 | 
money.usnews.com | Mary Beth Eastman |Adriana Ocanas |Emily Roth |Bob Musinski
Key Takeaways Buy now, pay later services let you pay for a purchase over time, including biweekly or monthly installments. Some buy now, pay later services come without interest or fees, but it can depend on the company, your credit and the cost of your purchase. Be cautious when using buy now, pay later services so you don't end up spending more than you can afford. The fun part of online shopping is clicking the "add to cart" button, but figuring out how to pay for the purchase is not.
