Improve Your Credit Score by 110 Points in 4 Steps
Goat Finja
by goatfinja
4y ago
Building credit score takes time and patience. Higher the score, lower the rates you’ll be charged when getting a credit card or borrowing money to buy a car or a house. Let’s say your current score is 640 which is fair but getting over 750 would make your score excellent therefore getting the best available rates in the market. Stay Below 50% of Your Available Credit Limit If you have one credit card with $500 limit and another with $2,000 your total available credit limit is $2,500. Being at 90% of your total credit limit will push your credit score lower. Make aggressive pay downs to ..read more
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Top 10 Reddit Personal Finance Topics and Best Answers
Goat Finja
by goatfinja
4y ago
Here is the list of the highest ranked Personal Finance topics on Reddit – the front page of the internet. 1. Be wary of dental chains that offer cheap New Patient Exams/Cleanings The Best Answer: “I had this happen to me years ago and oddly enough, I was thinking about it yesterday. They claimed I had multiple cavities but I couldn’t afford everything at once. I got two filled and just didn’t go back. Years later I gathered the courage to go to a different dentist. I started by apologizing and admitting that anything they found was my fault and that I fully expected it to be terribl ..read more
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How to Build Your Credit Score in 2020
Goat Finja
by Kevin Kazkas
4y ago
My first financed car was a 1995 Honda Accord. It was a used car and I bought it at CarMax back in 2000. At that time I was still in college and I had no credit score. As far as Transunion, Equifax and Experian were concerned, I didn’t exist in their databases. When you have no credit history no lender wants to extend you any loans or if they do it’s crazy expensive. As I recall subprime lender Transamerica financed my purchase at 18.99%. Sticker price was about $10,000 I had to put a pretty significant down payment of $2,500 even to qualify for a loan. For a $7,500 that I borrowed I had to pa ..read more
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Why I Switched From Bank of America Cash Rewards Credit Card to Chase Sapphire Preferred
Goat Finja
by Kevin Kazkas
4y ago
For over five years I was an avid user of Bank of America Cash Rewards credit card. I used my card every time I had a chance – shopping, vacations, restaurants, groceries, utility bills, subscriptions. I was a big spender back then which resulted in monthly $400 – $500 cash back rewards. Every time I had cash rolling into my Bank of America checking account I would get an additional 10% bump. At that time I worked at BofA’s Rates and Derivatives group and it was encouraged by my employer to use bank’s products. I had my checking account, credit card, mortgage and Merrill Lynch investments ..read more
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The Best City to Live for Millennials in 2020 – Charlotte
Goat Finja
by goatfinja
4y ago
If you want to make good money and have a great quality of life you should move to Charlotte NC. We relocated here from Orlando in 2017 and it was the best decision our family made. It wasn’t easy to leave Florida after 17 years, but we were ready for a change and the new beginnings. My bank was helping me with the transfer and the only financial downside was that we were becoming the residents of a state that has an income tax of 5.25%. My paycheck was going to shrink by $13,125 and I admit that sucked. Financial reasons weren’t the main factor of our move. So what attracted us to Charlotte ..read more
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How To Stay In Upper Middle Class In America In 2020?
Goat Finja
by goatfinja
4y ago
According to Pew Research Center’s 2016 report median upper-income class income is $187,872. With such income a family of four can have a comfortable lifestyle as long as they don’t reside in San Francisco, New York or Miami. Economists forecast GDP growth will be 2% in 2020 and 1.8% in 2021. Job and wage growth will definitely be affected. So what does one do to stay in upper middle class and continue enjoying their lifestyle? Don’t buy a brand new car. Don’t even think about Tesla, especially if your neighbor bought one and then rationalized with you that savings on gas alone worth of ..read more
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Why I Chose Bank of America For My Mortgage Refinancing vs Better.com
Goat Finja
by goatfinja
4y ago
Several weeks ago I started shopping for my mortgage refinancing into 15-year since the rates were at the lowest point for over the last 18 months. My current 20-year mortgage rate is at 3.75% and my goal was to shorten my amortization and lower my rate. I received quotes from Bank of America, Chase and Better.com. I had to eliminate Chase pretty early in the process since they were the least competitive. After I talked to Chase’s mortgage specialist several times it was clear they won’t negotiate. It came down to Bank of America and Better.com. Bank of America online application process w ..read more
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Top 10 Community Banks and Credit Unions in Charlotte NC
Goat Finja
by goatfinja
4y ago
Charlotte is my home and in this post I wanted to talk about city’s best community banks and credit unions. It’s not easy for small lenders to compete with large national banks clustered in Charlotte. With Bank of America headquarters and Wells Fargo 26,000 employees Queen City is rightfully considered banking center. Recently Charlotte has reclaimed its title as second largest banking center in U.S. Rankings are based on the value of loans and other assets held by banks headquarter in each city. What makes smaller financial institutions competitive and attractive to consumers and businesses ..read more
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How to Borrow From IRA Without a Penalty and Tax Free
Goat Finja
by goatfinja
4y ago
Every working American has to have 401-K, granted if the employer provides one and contribute at least the percentage matching employer’s contribution. The same time it’s prudent to have traditional IRA. When I changed jobs early in my banking career I always rolled my former employer’s 401-K into an IRA. Several years ago our family was in the process of moving to Charlotte NC from Orlando FL. At the time the bank I worked for was relocating me. We didn’t want to rent so our intent was to buy a house first and then sell our Florida home. Our income was enough to qualify for a new mortgage ..read more
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GOAT Businesses to Start – Contractor
Goat Finja
by goatfinja
4y ago
Many of us dream about starting next technology unicorn. The reality is that very few are technology savvy or want to move to Silicon Valley. In this blog post I would like to talk about simple but profitable business that Americans start every day. Very few become billionaires by starting a restaurant or a car wash. There are no fast-growing contractors or trucking companies hitting billion-dollar valuations. Most of those companies are self-funded and it usually takes about 10 years when you start taking in millions on annual basis. During my banker days I worked with those business every da ..read more
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