Big banks better watch out— Kasasa offers rewards checking and savings accounts through local banks and credit unions, known for their personal customer service, and levels the playing field between community banking and big banks. Kasasa was created by sister companies BancVue and First ROI, which has previously established CheckingFinder, a similar program offering free, high-interest checking accounts for community banking. However, Kasasa is unique in its rewards-oriented product options.
“Do you Kasasa?” the company blog asks. You c
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Big, Big Boys
Young people who just graduated should make sure they manage their money properly.
Although recent graduates may be ready for their respective fields, what they might not be prepared for is living on their own, especially when it comes to having a solid credit score.
While having the proper education is important when applying for a job, a person’s financial situation may also play a factor, as employers may check on a person’s debt level during the hiring process. Read the full post
Graduates, Recent Graduates
Credit card delinquencies in April continued to drop for the fourth month in a row in April, an indication that consumer finances could be stabilizing, even as unemployment rates remain in record territory. In addition, all but one of the six major U.S. credit card issuers saw credit card defaults drop as well.
Credit card delinquencies are a measure of the number of credit card holders more than 30 days behind with their credit card payments. They are early-stage indicators of future credit card defaults, i.e. credit card debt that card issuers have been forced to write off.
Even as both credit card delinquencies and defaults showed one of the best performances in more than a year, analysts warned that the continuing high unemployment rates are likely to keep credit card defaults in record territory.
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Card Delinquencies, Continue, Credit Card, Credit Card Delinquencies
The Senate’s new financial overhaul bill will drastically change mortgages
The new financial overhaul bill passed by the Senate late Thursday night contains a number of changes to the way mortgage lenders and borrowers interact.
According to the New York Times, these changes, designed to protect consumers from costly practices from their lenders, will have a big effect on the way mortgages work. They will change not only the way financial institutions can charge fees, but also to the way in which the mortgages are set up in the first place, and how applicants are considered.
Lenders can no longer charge homeowners a penalty fee for paying off their loan prior to the term of the mortgage agreement. Read the full post
Financial Overhaul, Mortgages
The jumbo financial reform legislation sitting on the Senate floor has 200+ proposed amendments to overhaul Wall Street as well as Main Street. It’s aimed at regulating financial institutions and protecting consumer issues to avoid future financial meltdowns and better protect consumer interests. The legislation addresses everything from the creation of a consumer financial protection agency to safeguards against big bank bailouts. If it passes, how will this epic financial reform proposal affect the everyday consumer?
- Free Credit Scores For Certain Consumers. A
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Financial Reform, Reform
As the real estate market gets back into full swing this spring, many homeowners – both those trying to sell a home and those buying and wanting to improve the properties they are moving into – will be looking for ways to boost home equity. One of the fastest ways to accomplish this is to pay down mortgage balances, but these days most consumers are having trouble just paying their bills and they cannot afford to apply extra funds to pay down mortgage principal. Another way to raise equity is to lower the cost of a mortgage through a refinance, but doing a refinance can be costly unless you can get a substantially lower rate. The Read the full post
Home, Home Equity