What Is a Credit Builder Loan?

A credit builder loan is a financial product that can help consumers establish a positive credit history. Unlike a traditional loan, borrowers will receive a

how does interest work on a loan
According to the Financial Industry Regulatory Authority, only about one-third of Americans have a working understanding of interest rates.1 So, how do you explain interest…
guide to credit card aprs
A credit card annual percentage rate (APR) is the yearly interest rate, along with any additional costs or fees. In contrast, the interest rate is…
how to calculate interest
Calculating interest on a loan will depend on several factors, including the loan amount, credit scores, and whether the loan has a simple, compound, fixed,…
How Does Inflation Affect Borrowers?
We’ve all heard the term inflation when discussing economics, especially in 2022, but how does inflation affect borrowers? You may have recently heard or read about…
How Do Banks Set Interest Rates
Banks set interest rates on loans using the federal funds rate, prime rate, and state laws regarding rates for different types of financial products. On…
is it bad to pay off a credit card early
Usually, unless your car issuer has some sort of prepayment fee, it’s actually a good idea to pay off a credit card early. Paying your…

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