A USA Today article is reporting that lenders are dropping credit lines on high FICO score borrowers at more than twice the rate of high-risk borrowers. Those borrowers with higher credit scores tend to carry a lower balance (earning the lender less interest) and pay on time (earning the lender less in penalties and fees). The data is showing that lenders would rather take …
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Written by Matt on April 5, 2009
We all want what’s best for our kids so that they grow up to be self-sufficient with a good head on their shoulders. Our kids are now 6 and 8 years old. When they were little, they would occasionally receive a little money as a gift and they might put it in their little bank or their real bank savings account which made next to zero percent interest, or they might even lose it. It just wasn’t organized and we …
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Written by Laura on November 6, 2008
As I reviewed what was going to be on the Ohio Ballot this year, I came across Issue 5. This referendum would cap payday loans to a maximum of 28% APR. What is appalling is that the current cap is 391% ($15 interest on a 2-week $100 loan).
Unfortunately, the people who use these loans frequently get cought up …
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Written by Matt on October 7, 2008
