Information Center – News and Articles about Credit Cards
Select-Credit-Card.com is glad to introduce the Information Center! Study the rich selection of credit news and articles to read! We cover such issues as new credit products, credit repair post bankruptcy, credit bureaus and bad credit. Examine the entries and apply online for a card!
Choose Mortgage as You Compare Credit Cards
If I was asked what is the house of my dream I would say "My own house". To have a house that belongs to you is a dream of millions of Americans. Buying a house is a serious matter and needs preparation. So, a person should set to rights his financial affairs before applying to a mortgage.
What can influence the lenders' decision? There are actually a number of things to consider. First and foremost you should be employed and have a regular income. Secondly, you need to consider your credit score, for quite often mortgage interest rate depends on it.
Well, employment is a very important factor. You need to have at least a two year employment history. If you have been working for your current company less than two years but have a good career record in the same field, lenders will likely be satisfied with that.
Your annual income is also important. It does not matter whether you get a salary every month or a wage every week. Your chances to get a loan will be improved. Lenders will see that you can meet your financial obligations. But if your income is not stable and fluctuates from year to year, lenders will start to hesitate. This can be true to salespeople and self-employed. In this case you will need to prove that you have been working in the same field for two years. Maybe documentation will be needed.
Credit score is the next factor. Most lenders use FICO credit score (Fair Isaak Corporation score) to evaluate your creditworthiness. The higher your score is the lower mortgage interest rate will be. For example you have an excellent score and that is from 760 to 850. The mortgage is $300000 for 30 years. The interest rate will be 5.94%. But if your score is as low as 500-579 the interest rate will be 10.549%. This is twice as much! Well, under these circumstances excellent credit score is worth fighting for.
If you have a bad credit history that does not mean you are not going to get the mortgage. In fact many lenders specialize in giving mortgages for people with poor credit history. Even if your score is 500 you have many chances to get a loan. But be prepared that a lender will likely demand additional documents such as W2 and bank statements.
You must be as smart when buying a house as when you compare credit cards and choose the best one. So, after you considered your credit score get pre-approved by a lender. House sellers will like you more if you are pre-approved because that shows your finances are more stable.
The next step is finding a real estate agent. A professional real estate agent who knows the market and all the procedures is a guarantee of your success. But be aware that some agents work only with buyers while others only with sellers. Make sure your real estate agent plays your game.
As long as you have considered all these key factors you are ready to start looking for a house and applying for a mortgage.
News about credit cards
Credit card companies constantly develop new credit products and rewards programs. This way they want to attract new customers, keep current loyal clients and encourage them to use their products more often. Another promotion from Visa is taking place this fall and winter. Using your Visa enrolls you in NFL sweepstakes.
Starting from September, 1 throughout December, 31 every time you swipe your Visa card, you increase your chances to win an inside pass to Super Bowl XLIII, the 2009 NFL Pro Bowl, as well as to a 2009 Playoff Game. Plus you can get a chance to hang out with one of the NFL player at every event.View full story... Comments (0)
It is not just Hollywood celebrities, popular rock stars, models and other publicity persons that America admires. Businesses are not left out either. Every year Fortune magazine publishes a top-list of the US companies that performed better than others. "America's Most Admired Companies" are chosen by independent experts and surveyors of Hay Group.
In order to choose the top ten companies from different industries, experts carefully study the companies' activity on 8 criteria. They are quality of products and services, quality of management, financial soundness, innovation, people management, long-term investment value, social responsibility and use of corporate assets. Wonder what companies hit the charts this year?View full story... Comments (0)
Some 50 years ago an ordinary person could not imagine that half a century later very few sale operations will involve cash money. But today everything is just the other way round. Few people would step outside without a little plastic in their wallet. Credit cards are a frequent and welcome guest at any store or supermarket.
Credit cards invaded our life. They have become omnipresent. But this sort of coexistence is pleasant for cardholders, as plastics make our life more convenient and give us more opportunities. But credit card companies decided to go further. It seems they want to turn plastic cards into a person's best friends. People and credit cards can become a finger and thumb. Now they can be inseparable even in the air!View full story... Comments (0)
Comments
Back To Top
12:23 AM, October 24, 2007, Jenna
A house of your own is a desired thing. It deserves to strive for.