Credit Providers Anonymous

By |2019-02-18T16:43:34-05:00August 3rd, 2018|SweetPay|

I continue to be amazed by retailers who hide the fact that they have consumer financing programs, as if  it’s shameful. They should join Credit Providers Anonomous! If there were such an organization, and I may just start it up, you would find retail owners sitting together confessing about how they can’t admit they have [...]

Beware of the Credit Traps

By |2019-02-18T16:39:53-05:00July 10th, 2018|SweetPay|

The reports of snail mail’s death have been greatly exaggerated! Why? Just look at all those offers for credit or personal loans that show up. You can also turn on Sirius XM radio and get a steady dose of commercials touting online lending offers. While most are legitimate and can actually help, some are traps. [...]

The Risk of Rising Rates

By |2019-02-18T16:35:50-05:00June 22nd, 2018|SweetPay|

It was bound to happen. For many years, we’ve been benefitting (unless you’re a saver) from low interest rates the Federal Reserve has engineered to help prop up the economy following the Great Recession. Low interest rates meant low borrowing cost. But, what goes down, must go up (take that Sir Isaac!) If you applied [...]

The Consumer Credit Chess Match

By |2019-02-18T16:32:36-05:00June 7th, 2018|SweetPay|

In the good ‘ol days, we had a nice neat hierarchical order to the credit lending – a prime lender, near-prime lender, and subprime lender. Well, those days are gone! Consumer finance (and even patient finance) lending has morphed and the lines have blurred. Today, you see traditional prime lenders “digging deeper” or approving lower [...]

Credit Decisions for Dummies

By |2019-02-18T16:28:40-05:00May 19th, 2018|SweetPay|

Let me be clear - In no way are you a dummy! But, how credit decisions are made by a bank or lender can make you dumbfounded. While every person’s credit report has similar data categories – credit limits, account balance, monthly payments, credit inquiries, etc. – what a bank looks at when considering issuing [...]

The color of money and why you should care

By |2019-02-18T16:18:01-05:00May 9th, 2018|SweetPay|

The phrase, “Color of Money” is most commonly synonymous with the 1986 movie starring Paul Newman and Tom Cruise, but is considered to be a phrase used way back when to see what type of money someone actually had – that they were good for whatever the need was. Money comes in many forms. What [...]

Making sense of all the rising debt chatter

By |2019-02-18T16:19:15-05:00March 30th, 2018|SweetPay|

Some journalists have been sounding the rising debt alarm bell. While I’m not worried about current debt levels, I do take solace in the concerns being raised, as there was none of that pre-2008. What I will attempt to do in this post is to break household debt down for you.  The Federal Reserve Bank [...]

One sure way to lower your interest payments

By |2019-02-18T15:31:15-05:00March 13th, 2018|SweetPay|

So, your credit score is nothing to write home about and you really need (or want) that large purchase. You can fit a personal loan payment in to your monthly budget, and making timely debt payments helps to improve that credit score, so that you can eventually write home about it! But, you cringe at [...]

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