Life is unpredictable. An emergency, unexpected illness, or a bout of forgetfulness can all end in a missed loan payment. While missing a single payment may come with unwanted consequences like fees or penalties, it will not result in financial ruin. Stay calm and keep reading to learn what happens if you miss a loan payment.
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If you’re new to borrowing, your first step is to establish credit. Secured credit cards can be an alternative to unsecured credit cards with the same conveniences. Secured credit cards are designed to help borrowers take positive steps towards financial freedom. The best candidates for secured credit cards are high-risk borrowers, those with damaged or insufficient credit history, those who are just starting out with credit, and those looking to avoid overspending.
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On the surface, debit cards and credit cards look alike, with a chip and a magnetic stripe, your financial institution's logo, and the card network (like Visa or Mastercard). They both give you a convenient way to make purchases online and in stores.
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Traveling can bring excitement, new experiences, and can even help you recharge and reduce stress. But to travel, you’ll need to pay for your trip and expenses that come with it. Travel credit cards are a great option for those looking to earn and redeem points, cash back, and receive valuable perks to help ease travel costs. With many options available to travelers, it’s hard to know which card is your best option. We’ve created a guide to help you determine which type of card best suits your spending habits, travel needs, and expectations.
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Between the rising cost of gas and groceries, holiday expenses, and unexpected bills, chances are your credit card balance may be a little higher than you’d like. Luckily, there’s a simple solution to help you lower your monthly payments and pay off your credit card debt faster: transferring your current balance to a low- or no- interest credit card. Here’s how a credit card balance transfer can help you get a fresh start and give your budget some breathing room in the new year.
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Credit cards are the most versatile product in your wallet and can be the ticket to a strong credit score and healthy financial habits. By mastering the most popular financial tool, you can demonstrate to lenders that you are a responsible borrower, ushering in new opportunities.
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International Credit Union Day ®, also known as ICU Day®, is celebrated on the third Thursday of October. This year marks the 74th anniversary of the day, with the theme “Empower Your Financial Future with a Credit Union™.” This special day is brought to you by World Council of Credit Unions (WOCCU) and Credit Union National Association (CUNA).
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There are only twenty-four hours in a day, and how you spend each one can impact your entire life. If you frequently find yourself trying to magically turn back the clock, you may be in “time debt.”
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Credit card interest is often discussed, but not always understood. Despite the number of people who keep a credit card (or several) in their wallet, not everyone can explain the math that goes on behind the scenes. Understanding how your monetary tools work is an important part of financial literacy, which is why in this article, we’ll break down credit card interest into basic dollars and cents.
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In this series, we take a look at the inner workings of the Credit Union and meet some of the champions who help our members in every facet of their financial lives. This month, we met up with expert Bryan Eichenbaum, an expert on all things lending at American Heritage.
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