With the current economic downturn casting wide uncertainty about the future, it’s no secret that banks are becoming more strict about who they approve for new credit cards with increased scrutiny like submitting additional employment verification or showing more documentation of your income. There are however various ways you can use boost your credit card…
Thinking of taking out a student loan? Well, this is going to have an impact on your credit score depending on how your repayment obligations. A student loan will have a positive impact on your credit score if you pay as agreed. The loan will leave a dent in your credit score if you delay…
The U.S economy is expected to sink into a recession in the next 12 months as the Federal Reserve ramps up efforts to bring down raging inflation and cost of living. This is according to the Wall Street Journal’s latest survey of economists. The report puts the probability of the U.S economy tipping into a recession…
The latest government revised figures show the U.S economy dropped for two consecutive quarters, with Gross Domestic Products (GDP) shrinking at an annual rate of 0.6 percent in the second quarter of 2022. This is similar to what has been projected earlier. Furthermore, the 1.6 percent which had been reported in the first quarter also…
A high credit score is a gateway to a healthy financial future. It gives access to lower rates on mortgages, insurance, and loans. It can also increase your chances of getting hired in some states where employers demand your credit report as part of your job application process. Conversely, with a low score, you’ll be…
The Federal Reserve increased interest rates by another 75 basis points on Wednesday to help cool the country’s stubbornly high inflation. This move sparked experts’ concern that the economy may have already entered a recession. In a press conference following the rate hike, Fed Chairman Jerome Powell stated that he doesn’t think the economy is…
At the start of the COVID-19 pandemic in late 2019, governments and policymakers faced a tough balancing act; maintaining economic activity and keeping the population safe. As a rational norm, protection of human life and public safety top most government policy papers. The economy became the opportunity cost to protect their populations from a raging,…
Are we in a recession? Talks of a possible recession among bankers, economists, and analysts have increased due to an uncertain economic backdrop caused by raising inflation, sky-high interest rates, and chaotic stock markets. While the U.S economy has remained resilient with robust consumer spending, and a strong job market on average, worries of increasing borrowing…
The best mortgage lenders for you will be those who supply your mortgage when you need it, without unnecessarily raising the interest rate, and will give you good loan terms. You’re undoubtedly spending too much if you’re not currently doing comparison shopping for lenders and brokers who agree to charge you a reasonable lenders fee….
Your home is a significant investment because of its valuables—from the structure to furniture and electronics, your clothes, jewelry, and art. You’ve put a lot of thought and money into making your home just right. That’s why it’s so important to have homeowners insurance – in case something happens to your house or its contents….