Commerce – Insite Website Design Fri, 11 Jun 2021 19:04:27 +0000 en-US hourly 1 Commerce – Insite Website Design 32 32 Kevin Hart’s Bad Credit Made Him Pay This Ridiculous Amount for a Car | Celebrities | Kevin Hart | The reverse Thu, 11 Mar 2021 06:18:51 +0000

In his new film, The reverse, Kevin hart plays an ex-convict named Dell, who is desperately trying to get his life in order. With little money and even less time with his son, Dell must find work or get into trouble with his parole officer. When he replies to an ad for a nurse’s aide he doesn’t intend to apply, he just wants a signature indicating he made the attempt. However, wealthy wheelchair businessman Phillip, played by Bryan cranston, sees something in Dell that he likes and tries his luck. The strange couple then embark on a literal and figurative adventure that will change their lives both.

The reverse is a remake of a French film named The Untouchables and is led by Neil burger (Without limits, The Illusionist, Divergent) and finds Kevin taking on one of the most serious roles of his recent career. Phil is a wealthy but unhappy quadriplegic who struggles to bond emotionally, but he bonds with Dell over pleasurable things like music and fast cars. In an interview with, Kevin and Bryan talk about the importance of the late Queen of Soul Aretha franklin to tell that story and what cars got them through tough times.

BET: Aretha Franklin’s music was such a big part of the movie, what song would you sing during the karaoke?

KH: I would go with “Respect”. RESP-E-CT. There was a great part of my life where I spelled “Respect” RESPCT because of the song. I didn’t hear the ‘E’. [I’d sing] because it’s something that I work hard to get.

BEFORE CHRIST: [Sings “Nessun Dorma”]

KH: Is that what you would choose? We’ve heard that a lot …

BC: My God, she sings “Nessun Dorma” just like… it’s amazing. It’s part of the movie.

KH: I have been educated in this since the film. I didn’t know until …

BET: Just like me. There is a great scene in the garage with the cars. Kevin, I read that your brother gave you your first car. Do you remember the first cars you bought with your own money?

KH: The first car I bought, my credit rating was so bad. I’m in Los Angeles, I need a car, I just made some money. Of course, I want a nice car, but because of my credit, that’s not going to happen. I have a Ford Explorer Sport. The two doors. I was paying $ 1,200 a month for a Ford Explorer Sport. This is how bad my credit was.

BC: You didn’t have a car in Philadelphia?

KH: Yeah, I couldn’t take that [to L.A.].

BC: This is the one I want to know.

KH: It was a Pontiac Trans Am. It was one of the ones they had just left on the street that my brother found and gave me. One of the headlights was working, the other was not. It only started on the days when I wanted to.

BC: I know the feeling. [My first car] was a Pontiac Delta ’88. A ’67. You started it and it was [makes rumbling noise]. It got a glorious six miles per gallon and there was an oil leak all the time.

KH: After the Ford Explorer Sport, I said that when I finally have real money, I will have fun. And the first car I bought myself was an SLS with Gulf Wings. And this car, which is right in my garage. It’s a car with a memory attached to it.

BD: Do you drive it at all?

KH: Very rarely. Sometimes. I have cars with memorabilia attached.

BC: How many cars do you have?

KH: We don’t need to discuss it. We don’t need to discuss it. It’s just stupid, and I’m not even going to put it there.

AD: 17?

KH: I’m not even going to put it there. People will take me for a fool. I am up there. I have a good number of cars. In other words, if I bring another car home, my wife is going to kick me out of the house. She’s not at all happy with the garage in the driveway. “Look at that shit! “

The reverse is in theaters Friday, January 11.

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How bad is my credit score? Thu, 11 Mar 2021 06:18:51 +0000

If you really have bad credit or great credit, you probably already know that. But there is a huge middle zone where your score is too low to get you the best deals. Whether you’re looking to get a new credit card, take out a loan from a car dealership, get a mortgage to buy a house, or borrow money for other purposes, the quality of your credit score makes a big difference. .

Key points to remember

  • If you have a bad credit rating, you will usually pay higher interest rates on loans and credit cards, and you might have a hard time getting them.
  • A bad credit score can also increase your insurance premiums and even hamper your ability to rent an apartment or find a job.
  • Your credit score is determined by a number of factors, the most important of which is whether you pay your bills on time.

Why credit scores matter

With a bad score, few banks will take a chance on you. Those that do will likely only offer you their highest rates. Even an average score can drive rates higher than those offered to people with excellent credit.

A bad credit score can also increase your insurance rates or cause insurers to reject you altogether. It can be placed between you and the apartment you want to rent. Negative elements in your credit report can even hurt you when you apply for a job.

Let’s take a look at what is considered a bad credit score, how you were able to make it happen, and what you can do about it.

Do you have good or bad credit?

Credit ratings, which can range from 300 to 850, takes into account a number of factors in five areas to determine your solvency: your payment history, current debt level, types of credit used, length of credit history, and new credit accounts.

A bad credit score is a FICO score in the range of 300 to 579. (FICO stands for Fair Isaac Corporation, the company behind the most widely used credit scoring system.) ‘credit a rating of 550 to 620. Regardless of the labeling, you will have a hard time getting a good interest rate or getting a loan at all with a credit score of 620 or less. In contrast, an excellent credit score is between 740 and 850.

Things that can hurt your score

Borrowers with bad credit typically have one or more of the following negative items on their credit reports:

Your payment history counts for 35% of your score, so missing your payment due dates seriously affects your score. However, being 31 days late isn’t as bad as being 120 days late, and being late isn’t as bad as not paying for so long that your creditor is sending your account to collection. debits your debt or agrees to settle the debt. for less than you owe.

Another important factor is how much you owe against the credit you have, accounting for 30% of your score. Let’s say you have three credit cards, each with an amount of $ 5,000 Credit limit, and you’ve maximized them all. Your credit utilization rate is 100%. The rating formula is more favorable to borrowers with a ratio of 20% or less.

To keep their credit utilization rate at a favorable rate of 20%, a person with $ 15,000 of available credit should aim to keep their debt below $ 3,000.

The length of your credit history counts for 15% of your score. You don’t have much control over this component. Either your credit history goes back several years or it isn’t.

The number of new credit accounts you have counts for 10% of your score, which means that applying for new loans to shift your debt could hurt your score. On the flip side, if transferring your debt gets you a lower interest rate and helps you get out of debt more easily, new credit could ultimately boost your score.

The types of credit you use count for the remaining 10% of your score. If you have an auto loan, mortgage, and credit card (three different types of credit), that can mean a better score than if you only have credit cards. Again, don’t worry too much about this one. Applying for different types of loans to improve your score will have little impact and will only put you in more debt, which is not what you want if your credit is below average. Instead, focus on paying off your balances and making payments on time.

Things that won’t directly affect your score

You may be happy to know that the following factors do not have a direct impact on your credit score:

  • Your income. It doesn’t matter if you earn $ 12,000 or $ 120,000 a year, as long as you make your payments on time. Having low income doesn’t necessarily mean having bad credit.
  • Where you live. Living in a bad neighborhood won’t give you a bad credit score, and living in a prestigious neighborhood won’t give you a good rating. If you own a house, its value does not influence your score either.
  • Participate in a credit counseling program. Signing up for help managing your bills doesn’t hurt or help your score. It is the specific actions you take under this program that will influence your assessment.
  • Your race. Even though someone can guess your race from your name, FICO does not factor race into your credit score.
  • Your marital status. Your credit report doesn’t show whether you’re married or divorced, and it doesn’t factor that into your score either. Marriage can indirectly lead to a good credit score if having two incomes makes it easier to pay the bills you struggle with, or it can leave you with bad credit if you marry someone who is financially irresponsible. Divorce can indirectly hurt your credit score if it hurts your finances, but again, marital status will not directly affect your score.
  • The interest rate on one of your loans or credit cards. Whether you’re paying the default 29.99% interest rate on a credit card or a 0% introductory promotional rate, the scoring formula doesn’t care.

Does No Credit Mean Bad Credit?

Not having a credit history or credit score, as you might have if you have just graduated from school or have just moved to the United States, does not mean you have “bad” credit. . However, it can make it more difficult to rent an apartment, open a credit card account, or obtain a loan. In many cases, you can work around your lack of score by using alternative methods to prove your financial responsibility.

If you want a mortgage, for example, you can submit a timely rent and utility payment history with your mortgage application. Or, if you don’t qualify for a conventional credit card, you can apply for a secure credit card, which after a certain time may qualify you for a conventional contract.

3 tips to improve a bad credit score

Here are some simple steps you can take that will almost certainly be improve your score overtime.

1. Make at least the minimum payment on time, every time, on every account. You might not have the cash to fully pay off your balances or even seriously damage them, but if you can at least make the minimum payment before the deadline each month, it will improve your score.

2. Try to correct major credit report errors. You can get your credit reports once a year, free of charge, from the three major credit reporting agencies (Equifax, Experian and TransUnion) on the official website for this purpose, The reports of the three agencies may differ somewhat, depending on the information they collect. If you find an error on any of them, you can file a “dispute”, following the steps outlined on that agency’s website. The agency is then required to investigate the matter and report back to you. For additional help spotting errors on your credit report, consider taking advantage of one of the best credit monitoring services.

3. Speak with your creditors. If you’re having trouble paying off your debt, see if you can find a better deal with your credit card companies or other lenders. Make sure you get a written agreement. Be aware, however, that some arrangements may affect your score. Asking that your credit card payment due date be changed to five days after receiving your paycheck, for example, won’t hurt your score, but asking your creditor to reduce your loan balance on will.

The end of the game here isn’t just to improve a three-digit number, but to correct any issues that might have put you in financial trouble in the first place. In the long run, it’s not about having a credit score of 740, as good as that may be, but about controlling your debt and being able to focus on your financial goals for years to come. If you need additional help removing negative scores from your credit report, the best credit repair companies can speak on your behalf with the three major credit reporting agencies.

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Protect Yourself Against Identity Theft | Vanderbilt News Thu, 11 Mar 2021 06:18:51 +0000

October is National Cyber ​​Security Awareness Month. Throughout the month, Vanderbilt University Information Technology will share tips for staying safe online. This article focuses on protecting your personal information.

Identity theft occurs when an individual’s identity is stolen. The theft can include medical, financial and personally identifiable information. Thieves can use this information to open new credit card accounts, steal existing accounts, sell information and identities on the dark web, and commit other types of crimes. Key things attackers target to steal personal information and identities include social media accounts, bank accounts, names, addresses, dates of birth, driver’s licenses, and social security numbers.

Attackers have adapted over time, learning new ways to locate and collect your personal information. Social media accounts are targeted to expose interests and personal information. Credit card scanners can be used when a thief walks past your wallet or purse to collect credit card and banking information. Devices that connect to the Internet in public places can send signals to attackers exposing passwords, online activity, or other personal information.

Recovering from identity theft can be a tedious and difficult process, often leaving the victim with bad credit, financial problems or worse. To protect yourself against identity theft, follow the tips below:

  • Create strong passwords. Create strong passwords with a mix of numbers, characters, and symbols, and use a variety of passwords for your accounts. Use a password manager such as Guardian or Last pass to help you remember your passwords.
  • Use multi-factor authentication. Use two-step verification whenever possible, including on mobile devices, laptops, iPads, and apps that may store sensitive information.
  • Protect sensitive information. Refrain from posting sensitive personally identifiable information on social media platforms as it is frequently skimmed off by attackers.
  • Protect personal information and devices. Protect your personal and financial information on your computer with virus protection software, ad blockers, and firewalls such as Windows Defender, AdBlock or McAfee Total Protection.
  • Evaluate your sources. Always make sure you have access to a reliable source before downloading any content or software.
  • Monitor your credit report. Periodically check your credit report for suspicious activity. This will help to become aware of fraudulent activity, which can be reported.

If you have any questions about cybersecurity or identity theft protection, please contact VUIT Support at 615-343-9999, or submit a request for assistance to

If you receive a suspicious email, please forward it to and the security team will notify you if it is a phishing attempt.

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Finding Home Loans With Bad Credit (Yes You Can) Thu, 11 Mar 2021 06:18:51 +0000

Finding home loans with bad credit is not for the faint of heart, or at least not something you should do without doing some serious homework. But there is good news if you are a first time home buyer wondering how to buy a house with bad credit: it is doable!

A good credit rating usually means you’ll get a great mortgage. A bad credit rating means you’re in trouble, but you shouldn’t just throw in the towel. From low credit mortgages to cash options to down payment strategies, this crash course teaches you how to buy a home with bad credit. Yes he can be finished.

What is a bad credit score?

First of all: even if you have a vague impression that your credit score is bad, it is not enough. Is it that bad?

Ideally, you should check your credit report well before meeting with a mortgage lender. Your credit score is based on the information that appears on this report, and you are entitled to a free copy of your credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) at

Credit scores, also known as FICO ratings, range from 300 (horrible) to 850 (perfection).

If your credit score is 750 or higher, “you are in the top category” and positioned for the best interest rates and the most attractive loan terms for buying a home, says Todd Sheinin, mortgage lender and COO of New America Financial in Gaithersburg, Maryland.

A good credit rating is 700 to 749. If you fall below this range, lenders will start to wonder if you are a risky investment as a potential borrower.

“If your credit stinks, you are immediately at a disadvantage and you may have trouble qualifying for a home loan,” explains Richard redmond, a mortgage broker at All Mortgage Loans in California in Larkspur and author of “Mortgages: An Insider’s Guide”.

What next?

Check for errors

If your credit rating is poor, that’s no reason to blame yourself (at least not immediately), because you might not even be responsible for all of these imperfections.

Creditors frequently make mistakes when reporting consumer slippages. In fact, 1 in 4 Americans find errors on credit reports, according to a 2013 survey by the Federal Trade Commission. So be sure to scan your credit report for slips that aren’t yours. From there, you’ll need to contact the organizations that provided the wrong information (for example, a bank or healthcare provider) and ask them to update it. Once done, your credit score will increase accordingly on your credit report.

As for the errors which are your fault? If these are one-time errors, it never hurts to call and request that they be removed from your record.

However, the only solution for major errors (chronic credit card debt) is time. Banish bad credit by making payments on their due date (late payments really are the devil for hopeful homebuyers), and you will gradually see your credit score rise. Don’t expect to rewrite your credit history overnight. You need to prove to lenders that you’re up to making those mortgage payments on time, while saving for a down payment, of course. Nobody said it was easy !

Paying off a mortgage for bad credit

Depending on your credit rating, you might still be eligible for low credit mortgage options, but you should expect to pay a higher amount. interest rate, Sheinin said. Getting a mortgage with a higher rate means you’ll pay your lender more interest over time, of course, but it at least allows you to join the home buying club.

With interest rates still historically low (check yours here), it might be a good idea to buy now and take the higher rate.

Get a low credit home loan

A Loan from the Federal Housing Administration is an option for potential home buyers with poor credit, as the FHA typically offers these mortgages for less than perfect credit scores and first-time home buyers. The FHA requires a minimum credit score of 580 (and other requirements) to qualify, but FHA loans also allow you to make a down payment as low as 3.5%.

The big drawback? Since the federal government insures these low credit home loans, you will pay a mortgage insurance premium, which is currently valued at 1.75% of the base FHA loan amount. However, depending on your actual credit score, some conventional loans may still be available to home buyers with poor credit, and these loans may require a down payment slightly less than the FHA loan minimum. Make sure to do your homework when exploring the FHA option.

Increase your deposit

If you have poor credit but have a lot of money saved, some mortgage lenders might be willing to approve you for a home loan if you do a bigger one. advance payment.

“The more funds you put in, the more you minimize the risk to the lender,” Sheinin explains.

So by increasing your down payment to 25% or 30% on a conventional loan, instead of the standard 20%, you will strengthen your mortgage application, which will make you much more attractive to a lender. Remember that your bad credit can still negatively affect the interest rate on your mortgage.

Still, the luck of owning your own home can outweigh these drawbacks at any time. So, if you are convinced that your credit history is sure to shatter your dreams of buying a home, well done! Get to work overcoming your bad credit: develop a healthier relationship with credit cards, work with a knowledgeable lender, and explore all of your mortgage options.

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Who is Viola Davis’ husband Julius Tennon? Thu, 11 Mar 2021 06:18:51 +0000

They say you will know when “the right one” comes into your life. Viola Davis had no idea when or even if that moment would someday come for her, but the Ma Rainey’s black stockings Star and the 2021 Oscar nominee wanted that to happen – so she prayed for it.

“I was the loneliest woman in the world, and someone said, ‘You should just pray for a husband,'” the actress said. Sixth page in 2013. She ended up taking her friend’s advice and told her friend that she “wanted a tall black southerner who looked like a footballer, who already had children, who might have been married before”.

Paras Griffin

Three and a half weeks later, she and her husband, Julius Tennon, first meeting. To make things more enjoyable, Julius ticked a lot of Viola’s boxes. Julius, himself an actor, was originally from Austin, Texas. He was an extraordinary football player, get full scholarship play at the University of Tulsa. He also became the first African American to graduate from the school’s drama department. In addition, he had two sons from a previous marriage, commotion reports.

From what Julius sharing on the OWN series Black love, he heard Viola talking to her friend about not knowing anyone and decided to come over and give her her card.

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At Black love, the Oscar winner said she was “ashamed” to have bad credit at the time and delayed Julius’ call for several weeks. But when they had their first date, things went well.

“I was terrified, because he told me exactly who he was he was absolutely honest about his past,” she said. mentionned. “And then he took me home, and he just said, ‘You are a very beautiful and kind woman, and it was a pleasure spending time with you.’ And he shook my hand. “

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Not even half an hour later he called Viola.

“I said, ‘Have you been home yet?'” Viola recalls. “He said, ‘No, I’m at Ralph’s down the street, but I just wanted to tell you again what a great time I had and what a woman you are.'” Believe it or not, he called again. once with a similar message.

“After my first date with Julius, my life improved,” Viola said. “Either way, the anxiety is gone, the fear is gone, it just made my life better.”

The couple married in 2003 in front of 15 guests in their condo and, later, in front of 100 in Rhode Island, E reports. In 2011, the couple adopted their daughter, Genesis.

Today, the couple is going strong. Last June, Viola commemorated her 17th birthday with a cute Instagram post. In the legend, she remembers praying to find the right man for her. Clearly, his prayers have been answered.

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“You made my life sweeter and my heart bigger,” she wrote. “I prayed for you and God said, ‘Yes! I have just the right person for you !!!! “Happy birthday my love … the best is yet to come.”

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This credit card will get you the most cash back right now Thu, 11 Mar 2021 06:18:51 +0000

Let’s face it, choosing the right credit card can be a stressful process. There are so many variables to consider, from the annual fee to the credit score requirement, not to mention the various rewards and benefits offered by each card, and how these align with your style. spending habits. Then there are the hidden charges and the interest rates that you have to reckon with. In other words, it takes a lot of work to make a truly informed decision when it comes to choosing a credit card that’s right for you. Maybe a good cash back program is at the top of your credit card priority list because, well, who doesn’t love having extra cash in their pocket?

To help you choose the credit card that will make you the most money, the experts at personal finance site WalletHub compared over 1,500 current credit card offers. From that large pool, they narrowed the field down to cards offering cash back rewards, comparing those offers based on initial bonuses, reward win rates, annual fees, and more. From that analysis, here are the best credit cards that will make you the most money right now. And for more money matters, check out This is the state where your money is worth the least.


Alliant Visa Signature Cash Back Credit Card

Best for: Cash back on all purchases

Cash back rate: 2.5 percent

Annual subscription: $ 0.00 for the first year; $ 99.00 after that

What type of credit do you need to get one: Excellent

Learn more about the Alliant Cashback Visa Signature credit card here.

If you’re worried about buyer’s remorse after choosing a credit card, put that into perspective by checking out What you’re more likely to regret than anything you do.


Discover the

Best for: People with bad credit

Cash back rate: 1-2 percent

Annual subscription: $ 0.00

What type of credit do you need to get one: Wrong

Learn more about the Discover the credit card here.


US Bank Cash + Visa Signature Card

Best for: Cash bonus for good credit ($ 200.00)

Cash back rate: 1-5 percent

Annual subscription: $ 0.00

What type of credit do you need to get one: Good

Learn more about the US Bank Cash + Visa Signature Card here.

And to make sure you have money to pay those monthly bills, avoid Biggest Career Mistake You’ll Ever Make, According to Experts.


Unlimited freedom hunt

Best for: No APR on purchases

Cash back rate: 1.5-5 percent

Annual subscription: $ 0.00

What type of credit do you need to get one: Good

Learn more about the Chase Freedom Unlimited Credit Card here.

And for more things that will help you and your family stay on track financially, check out The # 1 Sign You Shouldn’t Buy That Home, According To Realtors.


Capital One QuicksilverOne Cash Rewards Credit Card

Best for: People with limited credit to fair and looking for low annual fees

Cash back rate: 1.5 percent

Annual subscription: $ 39.00

What type of credit do you need to get one: Fair

Learn more about Capital One QuicksilverOne Cash Rewards credit card here.


Citi Double Cash Card — 18 month BT offer

Best for: Lump sum rewards

Cash back rate: 2 percent

Annual subscription: $ 0.00

What type of credit do you need to get one: Excellent

Learn more about the Citi Double Cash card here.


Capital One Savor Cash Rewards Credit Card

Best for: Catering and entertainment

Cash back rate: 1-4 percent

Annual subscription: $ 95.00

What type of credit do you need to get one: Good

Learn more about the Capital One Savor Cash Rewards credit card here.


American Express Blue Cash Preferred Card

Best for: More cash back overall

Cash back rate: 1-6 percent

Annual subscription: $ 0.00 for the first year; $ 95.00 after that

What type of credit do you need to get one: Good

Learn more about American Express Blue Cash Preferred Card here.

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From “Breaking Bad” to “Suits”: 4 shows that celebrate the mentor-protégé relationship Thu, 11 Mar 2021 06:18:51 +0000

It is undeniable that teachers / mentors are an integral part of society and play an important role in shaping its future. They teach their students important life tips, equipping them with the tools they need to survive in the “big bad world”. On Saturday, as people celebrate Teachers’ Day 2020, here’s a look at four shows that celebrate the connection between a talented “guru” and his sincere student.

Breaking Bad (Walter White, Jesse Pinkman)

One of the few shows that can rival the popularity of the Unforgettable Game of thrones, breaking Bad highlights what happens when an unlucky chemistry professor teams up with a former student to enter the drug business. The series, starring veteran actor Bryan Cranston and Aaron Paul, has ruffled some feathers with its bold content and shocking ending. It was followed by a spin-off You better call Saul and a film titled El Camino: A breakthrough film.

Money Heist (Professor, Tokyo)

A worldwide sensation, Money theft enjoys an enviable audience due to its captivating storyline and interesting premises. The bond between the determined “professor” and his troubled follower Tokyo is widely regarded as one of the strengths of the magnum opus.

The United States Office (Michael Scott, Dwight Schrute)

Office revolved around the sweet but fun bond between “boss” Michael Scott and his devoted subordinate Dwight Schrute. The show features several wacky yet touching moments, which have helped it achieve cult status. The series was then adapted into Hindi as a “Hotstar Special” to the delight of fans. The remake received decent reviews and clicked with the target audience.

Costumes (Harvey Specter, Mike Ross)

A captivating legal drama, Suit revolved around the connection between a charismatic lawyer and his talented protégé, who has a shady past. The series featured plenty of captivating footage, which left fans begging for more. The cast includes Gabriel Swann Macht, Patrick J Adams and Meghan Markle. It’s available on Netflix, Amazon Prime Video, and Colors Infinity.

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Bad Credit Credit Cards – Bad Credit Credit Cards – Bad Credit Credit Cards – Successful Investors Share: Investing Secrets I would tell my 25 year old self | Zoom Fintech | Zoom Fintech | Zoom Fintech Thu, 11 Mar 2021 06:18:51 +0000

Bad Credit Credit Cards – Bad Credit Credit Cards – Bad Credit Credit Cards – Successful Investors Share: Investing Secrets I would tell my 25 year old self | Zoom Fintech | Zoom Fintech

Bad Credit Credit Cards – Bad Credit Credit Cards – Successful Investors Share: Investing Secrets I Would Tell My 25 Year Self | Zoom Fintech

Bad Credit Cards – Successful Investors Share: Investing Secrets I’d Tell My 25-Year-Old Self

Do you know that old adage that hindsight is 20/20? If we could all find a time machine to go back to our mid-twenties and start our investment journeys all over again, we know one thing for sure: we would be very wealthy at this point in our lives!

It’s good to learn from the mistakes of the past, but if you were the one who made them, it’s hard to go back and correct them. In order to guide you to your successful investments, three seasoned Fintech Zoom contributors share valuable advice on what they would do then if they knew what they know now. By learning their lessons, you will avoid repeating their mistakes and have an easier path to retirement glory.

Image source: Getty Images.

Go invest, young!

Eric Volkman: The only (open) secret I would tell Eric in his mid-20s would be to just invest. Invest now and don’t wait. I was 27 when I bought my first stock (Brno Trade Fairs in the Czech Republic, in case you’re curious) while working for a European investment bank.

But there was no reason to hold out that long. I had been interested in stocks, in particular, and finance, in general, for years, and had enough analytical skills to identify promising investments. I was far from rich, yes, but there were bits of disposable income here and there that could have been used to buy securities.

Yes, Eric at 25 was still a few years away from the dot-com frenzy of the late 1990s / early 2000s, and some time after, the long tail bull run that followed the financial crisis. Still, there were good stocks to be had (as there is in almost every era, I would say now).

In my year 25, for example, consumer goods are the mainstay Estee Lauder went public at $ 26 a share – I could have afforded 10 or 20 shares even in those lean days. If I had shelled out $ 520 (plus trading commissions – remember?) For that last amount and done my usual shopping and maintains, these days I would be sitting on over $ 23,163 . It’s not bad at all for a few hundred dollars of a post-college kid’s money.

Many financial professionals warn that a good investment is not for the immature. The more seasoned and knowledgeable an investor, the better their chances of not spending their money on an unnecessary investment. There is something to that, but ultimately it is knowledge that can be acquired even by very young people, and title selection is a skill that can be honed through practice.

If you are in “tender age” and have a few dollars in your pocket, open an account at a brokerage house – which can be done these days with a few clicks on a smartphone – and invest! If you’re motivated and informed enough, there are few downsides – $ 520 is what some people spend each month on take out – and all the reasons to start “early.”

Image source: Getty Images.

Avoid debt or pay it off quickly

Barbara Eisner Bayer: When I was 25, investing was the farthest thing from my mind – because I was too busy managing and accumulating debt. And owing money is not being able to invest, which deprives any 25-year-old of benefiting from the power of capitalization.

Not only did I have several college loans that I was paying back, but as a budding New York singer / actress, I wasn’t making enough money to afford everything I needed to be successful in my career, including including rent, lessons, portraits, clothing, lessons and travel expenses when I noted work results. See, I didn’t mean to deprive myself of whatever, so I turned to the almighty credit card to buy whatever I wanted.

This led to overwhelming debt. And because I was spending all the money I was making, I was only paying the minimum amount on my credit cards, which got me into more and more debt. I was like this little hamster circling around in its cage wheel – still working hard, but going nowhere.

Obviously this indebtedness meant that there was no money to invest because all the money I had was being used either to buy things I needed or to pay off debts. . But even when I cut down on what I owed, I usually took on more debt. It was a vicious cycle – with an emphasis on the word vicious.

It took me until my mid-30s to get rid of all the debts – and it was thanks to the Dickensian benefactors – my future in-laws – who didn’t want me to start my married life with such a burden. financial. I had constantly prayed that if I ever found a way to get out of debt, I would promise that I would never put myself in this situation again, and to this day, although I had used the debt wisely through mortgages, 0% credit cards and home equity lines of credit, I’ve never been in a situation where I couldn’t cover them with funds in my savings account. It was just another financial tool that I could use to positively manage my financial life.

Once I became debt free, I was able to begin my investment journey and was fortunate enough to build up enough nest egg to have a happy, worry-free retirement. But if I could have started investing a decade earlier, my nest egg would probably be double what it is today.

If you’re in debt, make a plan to get out of it. With a little discipline and perseverance, it is possible. You might not have fairy gods like me, but you CAN get out of debt if you think about it.

Pink piggy bank sitting next to a jar that says ROTH IRA on a beige table.

Image source: Getty Images.

Get Your Retirement Money in a Roth Style Plan

Chuck saletta: When I started working full time, my employer did not offer a Roth style 401 (k) plan, only offering a traditional type plan. Recognizing the importance of starting early when it comes to retirement savings, I invested in the plan around the time I first became eligible in order to start building this important nest egg.

The benefits of this move were that it allowed me to take advantage of funding early in my career and put my retirement savings on autopilot. The big downside, however, is that all this money – and the growth it generates – is on track to be fully taxed as regular income when I take it out in retirement.

On top of that, since withdrawals from traditional retirement accounts are considered income, withdrawing money from this plan could increase my health insurance costs and subject my Social Security benefits to taxes. At some point in retirement, these additional taxes and costs may become unavoidable. From age 72, minimum distributions required Obligate money to withdraw from traditional retirement accounts.

After all of this, if I could go back in time, I would urge my 25-year-old self to figure out how to ask my employer to come up with a Roth-style plan at the time. That way, I could have started contributing much sooner, and that money would accumulate for my tax-free retirement.

Instead, I am very grateful for the nest egg I have been able to build, but also very aware of the fiscal and financial implications that I will face once I reach retirement age. A Roth style 401 (k) has since become available to me, and I’m now contributing fresh money to it. Additionally, I also expect that I will start converting the money from my traditional style 401 (k) to my Roth IRA over time once I retire and stop earning a paycheck.

While this decision is taxable, it will likely be at a lower tax rate than I would be facing now, as I would not have earned income pushing these conversions into an even higher tax bracket. It will also reduce the risk of higher Medicare costs and Social Security taxes, as Roth IRAs are not subject to the minimum distributions required during the account holder’s lifetime.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a premium Fintech Zoom consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

Bad Credit Cards – Successful Investors Share: Investing Secrets I’d Tell My 25-Year-Old Self

Bad Credit Credit Cards – Bad Credit Credit Cards – Successful Investors Share: Investing Secrets I Would Tell My 25 Year Self | Zoom Fintech

Bad Credit Credit Cards – Bad Credit Credit Cards – Bad Credit Credit Cards – Successful Investors Share: Investing Secrets I would tell my 25 year old self | Zoom Fintech | Zoom Fintech

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Credit University helps teens learn the dos and don’ts of building generational wealth – Free Press of Jacksonville Thu, 11 Mar 2021 06:18:51 +0000

Janay White of J. White Credit University is committed to providing young people with the knowledge and wisdom to earn great credit while having fun. To achieve this goal, she partnered with Dr Shanna M. Carter of Krumpin 4 Success, Inc. to host the Personal Credit Youth Seminar held at the Clanzel Brown Community Center in the north. Almost 100 parents and young people ready to learn about personal credit attended the one-day event.

“It was such an incredible participation for the young people of our city. We are passionate about helping our young African Americans achieve financial freedom, ”said Dr. Carter. White’s diverse resume includes positions as a social worker, fraud investigator and income auditor. At 18, she received her first loan from the Vystar Credit Union for $ 500 and immediately ruined her credit due to lack of education and ignorance. She was held hostage by bad credit for seven years, at the age of 25 she started rebuilding her credit and researching how to increase her scores. She became infatuated with all things credit and began to be approved for all credit applications. This led her to become a debt slave. Once she understood the process and the laws of credit scores and loans, she realized that having good credit without being educated on credit was an impending disaster.

“’I’ve learned my lesson, and now I’m determined to stop other members of our community from following the same path of credit destruction. It was a spiritual and emotional satisfaction to see a room filled with teenagers and their parents filling out a room to learn about credit. I look forward to making myself available so that I can offer these events more oftenWhite said. We see White addressing the students.

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How Does Prepaying an Auto Loan Affect My Credit Rating? Thu, 11 Mar 2021 06:18:51 +0000

Your payment history is the most influential factor in your credit score. If you’re looking to pay off a loan faster than you expect, it’s natural to wonder what impact this can have on your credit score.

Payments and your credit score

Prepaying your car loan early can save you money on interest charges, and it can get you off paying for a vehicle faster. However, if the auto loan is the only active thing on your credit reports, it could lower your credit score if you pay it off sooner.

Your FICO Credit Score – the most widely used credit scoring formula – uses five categories to generate your credit score: payment history (35%), amounts owed (30%), length of credit history (15 %), loan composition (10%) and new loan (10%).

Active and positive accounts on your credit reports have a better impact on your credit reports than paying everything off early. The longer your active accounts, the more varied those accounts and the better their payment history, the higher your credit score typically. If you close positive accounts, you could be hurting your variety of credit reports and your overall credit age.

However, if you have good credit, the drop in score may be temporary and only last a few months. But if your car loan is the only thing reported right now, and you pay it sooner, then you could risk damaging your credit score and having an even slimmer credit report.

Paying off a car loan sooner: pros and cons

Possible advantages of early repayment of your loan:

  • Savings – If you have a high interest rate, it could save you a lot of money to prepay your loan. The lower credit rating can be worth the savings in the long run.
  • Broken down vehicle – If your car is no longer working, paying interest on a broken down vehicle is probably not appropriate. You can also refuse to pay for full coverage auto insurance on the broken down car.
  • Expensive auto insurance – Is your expensive comprehensive car insurance? Once you’ve taken out an auto loan, you can choose a cheaper policy that meets your state’s minimum requirements.

Possible disadvantages of prepaying your loan:

  • Empty your savings – If you intend to pay off your car loan sooner with your savings, but it will cost you completely, this might not be a good idea.
  • If your interest rate is low – If you want to pay off your car loan to save on interest charges, but your interest rate is low (even 0%!), Then lowering your credit rating may not be worth it. .
  • Looking to improve your credit – If you’ve taken out a car loan with the intention of building your credit history and improving your credit score, paying it off sooner has the opposite effect. The more timely the payments and the older your credit accounts, the better your credit score will be.

Prepay your car loan early: plan ahead

If you still want to prepay your auto loan, it may be worth taking some other form of credit so that there is always something active on your credit reports. This may involve taking out another auto loan or credit card to avoid having too thin a record.

Your credit score reflects your credit history, but open ones indicate to the credit score model that you are currently managing credit well.

If your credit history isn’t great and you’re looking for another car loan, we may be able to help! Here has Auto Express CreditWe have created a network of dealerships that help low-credit borrowers in need of auto loans. To be matched with a dealer in your area that has bad credit loan resources, complete our free form. auto loan application form.

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