How to Close a Joint Bank Account
Want to close a joint bank account without any issues? Follow our easy step-by-step guide for a smooth process.
banks
Fifth Third Mortgage Review
Fifth Third Bank (5/3 Bank) formed as a result of the merging of two banks, Third National Bank and Fifth National Bank. Originally founded in 1858, this Cincinnati-based bank has 1,154 branches and 2,469 in the U.S. Fifth Third offers a variety of home mortgage options in 10 states and is ranked 389th on the Fortune 500. […]
The post Fifth Third Mortgage Review appeared first on Good Financial Cents®.
How to Qualify for a Loan on an Investment Property
Buying rental properties is a great way to invest your money but qualifying for a loan on an investment property is not always easy. Getting a loan on an investment property is much more difficult than getting a loan on an owner-occupied home, and it will cost you more. Many banks consider investor loans riskier … Read more
Mortgages and Loans: The Basics of Borrowing
Big loans make some people squeamish. This used to surprise me. I wondered how, for example, a client could talk openly about life insurance, with its end-of-life implications, then get sweaty palms over a mortgage refinance. Another client might, after systematically considering the need for disability insurance, balk at a mortgage equity line of credit […]
The post Mortgages and Loans: The Basics of Borrowing appeared first on Good Financial Cents®.
There Is No Free Mortgage
Youâve heard the term âno free lunch.â Well, the same is true of home loans. There is no âfree mortgage.â Sure, banks and lenders will offer deals that make it look that way. Theyâll give you a mortgage without closing costs. Or without points. But that doesnât mean itâs free. At the end of the… Read More »There Is No Free Mortgage
The post There Is No Free Mortgage appeared first on The Truth About Mortgage.
Guide to Idle Funds: Where to Put Them
Idle funds are funds that aren’t serving any specific purpose or working for you in any way. This is a term that’s often used when discussing business and government finance. It’s common for government entities and corporations to have idle money sitting in cash reserves until it’s ready to be used for specific expenditures. It’s […]
The post Guide to Idle Funds: Where to Put Them appeared first on SoFi.
CD Rates 2023 – Where Are They & Will They Go Up?
Wondering what CD rates will do in 2023? We analyze where they are now and where they are going.
What Is Direct Deposit, and How Does it Work?
Learn the ins and outs of direct deposit, including how it works and the benefits it offers. Find out if it’s right for you.
How Much Money Should You Keep in Your Checking Account?
Your checking account is held at a bank or credit union that allows withdrawals, deposits, and payments. The money in a checking account is liquidâmeaning you can retrieve it or spend it immediately. Many checking accounts are free and are great for everyday spending, automatic bill payments, and ATM withdrawals. Having a checking account gives
The post How Much Money Should You Keep in Your Checking Account? appeared first on MintLife Blog.
How to cancel a credit card (without killing your credit score)
I have a credit card I’d like to cancel, but I don’t know if I should. I’m afraid it’ll hurt my credit score. Today I’m going to walk you through in real time as I evaluate this decision. Then I’m going to explain how to cancel a credit card, no matter why you want to do so.
I normally don’t pay much attention to my credit score. I know that it ranges between 800 and 820, so I don’t worry about it. With a score like that, I’m considered to have “exceptional credit”, and that’s good enough for me. (Kim’s very proud that she has a higher credit score than I do, by the way.)
That said, for the past several years I’ve been carrying a credit card that I don’t want or need. It’s a Chase British Airways card that I signed up for in 2011. It’s a fine card, but I never use it because I have better ones. My primary credit card right now is the Chase Sapphire Reserve, which I use for 99% of my personal credit transactions.
Basically, I’m paying $75 per year — the British Airways card’s annual fee — for nothing…except to maintain my credit score. I don’t like it. I’d rather cancel the card and take a temporary hit to my credit. But is it bad to cancel a credit card? And if it’s bad, how bad is it?
I’ve decided to document the process! Let’s find out together.