I have a list of things you can do to add a few bucks to your rainy day fund.
There’s a couple banks and credit unions in my area that have offers you can take advantage of even if you can’t get to this region, you can do everything by the Internet.
American Heritage Federal Union (AMHF.org) runs a promo for a 4 month CD at 4%. The catch is its a maximum of $2,000, but that’s dinner for 2 at a nice restaurant in 120 days! You can open an account using the proper ID and a member referral. All you have to do is ask.
Penn Community Bank (Penncommunitybank.com) Will pay you $400 if you open a checking and savings account with a $25 min. They require you to use your debit card 20 times in side 60 days. I can post the details you would otherwise have to call them for it or get the ad they send in the mail.
You may have seen some of the many financial services available on many Internet stores. These services offer payment terms in the form of a loan for anything you want and you can stretch out equal payments from 12 to 36 months. The good part, there’s no hard credit pull, just a non-reported soft pull to see if you qualify.
You have to be careful as these loans are not all created equal. Some services have clauses and not so obvious terms and conditions. They all have Annual Percentage Rates (APR) that initially range between 24% and 32% however some will offer lower rates for subsequent financing offers.
The first thing that might come to mind is the interest rates these services charge. Most of these places take on considerable risk lending with very little requirements from you, so it’s really not bad if you work it to your advantage.
“Affirm” is a popular internet loan service that I particularly like. You may find their links on many Internet sites, probably more than anyone else.
They will offer you terms based on your FICO score with Trans Union. Usually a score of 680 or better with no undischarged bankruptcies or active/current collections on file. They do a soft pull so it won’t appear on your credit reports. It keeps your credit cards free from large balances that can pull down your credit scores when you surpass 10% of their line or even worse when your credit cards exceed 30% of your allowed authorized credit.
Now nothing beats lots of disposable income and a large balance available to spend as you wish. Second to that, a home equity line of credit is the next best picture, but if you don’t have these things a service like Affirm can work in your favor. They charge interest based on fixed payments that include principal and interest. Lets say you know that next month you will get money but right now you need new tires. A few weeks later you get your money and you want to pay off your loan. No problem, Affirm charges “Simple interest” with no prepayment penalties, no minimums. So if your tires come to $1500 and you pay the loan back a week later you only pay a few bucks that’s it - APR multiplied by loan amount divided by the days you used the money (Simple interest).
Just a thought, I post information now and then about credit and finance yet I never see any comments. Is there any interest to keep posting?
There’s a couple banks and credit unions in my area that have offers you can take advantage of even if you can’t get to this region, you can do everything by the Internet.
American Heritage Federal Union (AMHF.org) runs a promo for a 4 month CD at 4%. The catch is its a maximum of $2,000, but that’s dinner for 2 at a nice restaurant in 120 days! You can open an account using the proper ID and a member referral. All you have to do is ask.
Penn Community Bank (Penncommunitybank.com) Will pay you $400 if you open a checking and savings account with a $25 min. They require you to use your debit card 20 times in side 60 days. I can post the details you would otherwise have to call them for it or get the ad they send in the mail.
You may have seen some of the many financial services available on many Internet stores. These services offer payment terms in the form of a loan for anything you want and you can stretch out equal payments from 12 to 36 months. The good part, there’s no hard credit pull, just a non-reported soft pull to see if you qualify.
You have to be careful as these loans are not all created equal. Some services have clauses and not so obvious terms and conditions. They all have Annual Percentage Rates (APR) that initially range between 24% and 32% however some will offer lower rates for subsequent financing offers.
The first thing that might come to mind is the interest rates these services charge. Most of these places take on considerable risk lending with very little requirements from you, so it’s really not bad if you work it to your advantage.
“Affirm” is a popular internet loan service that I particularly like. You may find their links on many Internet sites, probably more than anyone else.
They will offer you terms based on your FICO score with Trans Union. Usually a score of 680 or better with no undischarged bankruptcies or active/current collections on file. They do a soft pull so it won’t appear on your credit reports. It keeps your credit cards free from large balances that can pull down your credit scores when you surpass 10% of their line or even worse when your credit cards exceed 30% of your allowed authorized credit.
Now nothing beats lots of disposable income and a large balance available to spend as you wish. Second to that, a home equity line of credit is the next best picture, but if you don’t have these things a service like Affirm can work in your favor. They charge interest based on fixed payments that include principal and interest. Lets say you know that next month you will get money but right now you need new tires. A few weeks later you get your money and you want to pay off your loan. No problem, Affirm charges “Simple interest” with no prepayment penalties, no minimums. So if your tires come to $1500 and you pay the loan back a week later you only pay a few bucks that’s it - APR multiplied by loan amount divided by the days you used the money (Simple interest).
Just a thought, I post information now and then about credit and finance yet I never see any comments. Is there any interest to keep posting?
