Month: August 2008
Below are all the posts archived for the month.
How does my Payment History affect my credit score?
in Articles
Payment History is the biggest component of your FICO credit score and it weighs for as much as 35% of the overall score. This is because lenders are most interested in knowing how have you handled debt and how timely have your repayments been. What is interesting to note is that 60% of the credit
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What are the components of my credit score?
in Articles
Your credit score which is your FICO score is made up of five components. These five components have different weightage and together they form your credit score: Payment History (35%): Payment history is your track record of paying your bills. This is the biggest part of your credit score and influences some 35% of your
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What types of brokerage account exist?
in Articles
A brokerage account is the beginning of turning all your investments ideas into reality. You need a brokerage account in order to buy and sell stocks, mutual funds, ETFs and other assets. There are two types of brokerage accounts – Traditional Full Service Accounts and Discount Brokerage Accounts. Traditional brokerage: Traditional accounts charge you a
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How do the oil prices affect the Rupee – Dollar exchange rate?
in Opinion
At the beginning of 2008 the Rupee rate went as high as 39 to a Dollar and at that time it didn’t look like it will be back to 43 so soon. Economists and Analysts were heralding this as a new era and were asking everyone to reconcile to the new realities of the market.
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What is an APR?
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APR or Annual Percentage Rate is the total cost of the debt that you will have to pay annually. The difference between the APR and the interest rate that your credit card company charges you is that APR will also include other costs like annual fee, registration fee etc. That is why the APR will
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What should I look for in a student credit card?
in Articles
A student credit card is a credit card offered by a bank that is specially meant for students. Student credit cards are a great way to build credit history, as it is much easier to get a credit card while you are still a student as compared to later in life. Few pointers that you
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How can I start investing in stocks?
in Articles
Starting investing in stocks can be a difficult task for a beginner. There are just so many things to think about and take care of that first time investors feel a little lost. The questions that accompany investing in stocks can be broken down into operational issues like opening a brokerage account, frequency of trading,
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How does a credit inquiry affect my credit score?
in Articles
A credit inquiry means that a creditor, like a bank or a credit card company verifies your credit, by looking at your credit report and makes an “inquiry” of sorts. There are two types of credit inquiries which are known as hard pulls and soft pulls. What are soft pull credit inquiries? Soft pulls do
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What is a CRR?
in Articles
What is CRR? Cash Reserve Ratio (CRR) is a percentage of deposits that banks must hold as cash reserves either with themselves or with the central bank. For example if the CRR is 6% and a customers have deposited $100 with a bank, the bank should in turn hold cash reserves of $6. While most
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What is a secured credit card?
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A secured credit card is a card issued by a bank or a credit union which is fully secured by way of a deposit made by the card holder. So that means in order for you to get a secured credit card, you will need to make a deposit of say $300 with the bank
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