Do you need an installment loan to maintain or build credit?
Question by AquaAngel: Do you need an installment loan to maintain or build credit?
By the end of this year, I will have all of my insallment loans paid off except for my mortgage. I have 2 credit cards that will be in good standing, low balances and all that. I want to build my credit to get the best rate I can to build a house in about 2 years. Am I going to need another installment loan on my credit report to have a good enough score? Or will the mortgage and credit cards suffice?
Best answer:
Answer by TheOnlyBeldin
Unless you have instances of defaulting or non-payment in your past, with the situation you describe, your credit should be good enough. Check your credit report for any errors.
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Categories: Loan Questions Tags: Build, Credit, enough, Installment, loan, maintain, Need, Question
Life After Debt: Practical Solutions To Get Out of Debt, Build Wealth, And Radically Transform Your Finances Forever!
Life After Debt: Practical Solutions To Get Out of Debt, Build Wealth, And Radically Transform Your Finances Forever!
Life After Debt is the culmination of thousands of one to one meetings with people just like you and I but deep in debt. In many cases their debt was not so much a function of irresponsibility but rather health issues, divorce and the economy. In this book author Rob Kosberg peels back the curtain on the strategies and mindset needed to overcome debt once and for all. Get this book today and be on your way to a debt free life forever!
List Price: $ 9.99
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Financial Promise for the Poor: How Groups Build Microsavings Reviews
Financial Promise for the Poor: How Groups Build Microsavings
* Balanced assessment of recent savings-led programs in microfinance
* Contributors include wide range of scholars and practitioners
The entry of the private sector into financial services for the poor is a relatively new development, but already the glossy promises of credit-led microfinance are facing scrutiny from the development community. Policymakers and economists have begun picking through the hype of microfinance to identify where and how top-down loans might fit into broader human development efforts. To many, the answer involves shifting focus to another financial service: savings. Serving as a strong and perhaps more effective tool than microcredit, microsavings is quickly becoming a lauded poverty-alleviation tool.
Contributors to Financial Promise for the Poor cover current innovations in microsavings happening around the world. They describe how savings group members in the developing world are avoiding many of the financial liabilities and debt of other microfinance programs while gaining skills and finding opportunities in collective enterprise. The turn from credit to savings speaks to the growing empowerment of individuals and communities as they break the bonds of indebtedness and find their own paths to financial security.
List Price: $ 24.95
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Categories: Loan Products Tags: Build, Financial, Groups, Microsavings, poor, Promise, Reviews
Live Debt-Free: How to Quickly Pay Off Your Credit Cards, Personal Loans, and Mortgages-And Build Real Wealth Today! Reviews
Live Debt-Free: How to Quickly Pay Off Your Credit Cards, Personal Loans, and Mortgages-And Build Real Wealth Today!
This completely revised and updated edition also includes an appendix of living expenses in twenty selected U.S. cities. Consumers can take financial control away from their creditors and put it back into their own hands–and start living debt-free today!
List Price: $ 8.95
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Credit Cards & Personal Loans : How Does a Secured Credit Card Build Credit?
Do you want to learn something new regarding your credit card? Do you know how your credit card which is secured can build its own credit?
All credit card holder that can provide cash collateral to the bank can make your secured credit card build credit. A secured credit card will turn into an unsecured credit card after a period of time. The video will show you all the things you have to understand regarding this process.
Also, you will be provided how credit reporting agencies see secured credit cards as a way towards making a better credit from a financial adviser in this detailed video.
So enjoy and learn more on Credit Cards & Personal Loans: How does a secured credit card build credit.
Business Cash Advance is The Smart Way to Build Your Business
Starting and running your business is an adventure activity and you just cannot go for the adventure until and unless you do not have funds in your kitty. Whether it is small business or expanding your business by diversifying it in new areas, funds are always needed. Do you know about effective solutions through which you will take the step forward in financing your loan?
Though implementation of sound working capital management can reduce the occurrence of situation where you will be needing funds, there may still exist situations like procuring capital equipment and meeting demands of recurring expenses. It is here that the role of business cash advance comes into play. Cash advance will offer small businesses to grow and expand. The finance method is also the easiest one to secure funds to go for business diversification.
Business cash advance has become a popular financing method for small businesses in recent times. What exactly is cash advance loan? It is a business loan where the cash advance providers will buy predetermined number of Visa and Master card receipts from various business owners and later provide those business owners cash advance facility against those receipts. In cash advance finance method, it is not necessary for the borrower to repay the loaned amount. In short the borrower or the business owner will receive cash advance against the Master and Visa card receipts, and the cash is received through merchant account.
There are two types of cash advance loans namely; the unsecured business cash advance loan and the secured business cash advance loan. When you are going for unsecured business cash advance loan, you don’t need any collateral and the business owner is not personally liable to pay back business cash advance. The credit card receipts can be sold by the business owner at discounted rates in order to avail business cash advance. However, in case of secured business cash advance, the business owner has to put forth collateral.
When you go for business cash advance method of financing, keep in your mind that there’s no fixed payment schedule and credit card sales receipts are put into practice for paying back cash advance to the lender. Rest of payment is received by the business owner either in cash, check or credit cards. Therefore, in this manner, business owner always has the funds to keep his/her business running and the best thing is that cash advance can be repaid either through Visa or Master card receipts.
Business cash advance is easier finance solution for small business owners, and it is also quite easy to secure this type of business for the purpose of increasing your business prospects. Here are few important criteria in which a small business owner can qualify for business cash advance:
The business has been in running for at least 1 years
The business must either be using Visa or Master Card as one of their mode of payments
There should be at least $ 5,000 of business every month
The author is an expert writer with hold in the niche area of business cash advance for your Business. The writer writes regularly on cash advance, business cash advance, fast cash advance, quick cash advance & merchant cash advance etc.
Written by Alexmartin
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