Secured credit cards are a helpful tool for people with bad or limited credit. They also help finance day-to-day purchases while rebuilding the credit. Getting secured credit cards is easy as they have lenient approval requirements. The best secured credit cards also have low annual fees, and minimum deposits, and offer significant rewards on spending. Below is a list of some of the best secured credit cards and their features.
Discover It Secured Credit Card
Discover It is one of the best secured credit cards because it has no annual fee and, instead, offers 1 to 2% cashback on purchases. It requires a relatively low minimum refundable security deposit of at least $200, and an added feature of this card is the cash reward provided after 12 months from the registered period. Also, after a period of responsible use, automatic reviews determine if your card can transition to an unsecured card.
Citi Secured Mastercard
This card is ideal for beginners with limited or no credit and has no annual fee. The Citi Secured Mastercard requires a minimum security deposit of $200. Through its monthly reporting to all three major credit bureaus – Equifax, Experian, and TransUnion, the card helps you build your credit history. Though it does not offer any rewards, the Citi Secured Mastercard can be used all over the world.
Capital One Platinum Secured
Compared to other secured cards, the Capital One Platinum Secured requires a lower deposit. Usually, the credit line is as big as a security deposit, but with the Capital One Platinum Secured card, some applicants with better qualifications may get the initial credit limit of $200 by paying a deposit of $49 or $99. Customers can also pay the security deposits in installments instead of making the payment in one go. No annual or foreign transaction fee further makes it one of the best secured credit cards in the country.
U.S. Bank Secured Visa Card
People with fair credit can get the U.S. Bank Secured Visa Card to build their credit score. It requires a minimum deposit of $300 and has no annual fee and no rewards program. You can choose your credit card due date and the auto-pay feature helps you pay your balance faster, eliminating interest and late fees. Also, if your secured card is lost or stolen, you will not be liable for unauthorized transactions.
Bank of America Unlimited Cash Rewards Secured Credit card
Strengthen or rebuild the credit with a Bank of America Unlimited Cash Rewards Secured credit card. Bank of America secured credit cardholders can earn 1.5% cash back on all purchases. With good payment behavior, the card can be transitioned to an unsecured card. There is no annual fee and the minimum security deposit requirement is $300. Bank of America will report the card history to the three credit bureaus to help you build your credit score over time.
Secured Sable ONE Credit Card
People with poor credit can apply for the Secured Sable ONE Credit Card. The card has $0 annual fees and gives attractive rewards that make it one of the best secured credit cards in the market. With this card, you can also earn 1 to 2% cashback in addition to a bonus on all cash back at the end of the first year. The card can be upgraded to an unsecured card in 4 months; this is a shorter duration compared to what other credit cards offer. You can also improve your credit score as monthly transaction reports are sent to the credit bureaus. Other notable benefits offered include cover for phone damage or theft if you buy your phone or pay your monthly cell phone bill with the card.
Secured cards are also best suited for those who have never owned a credit card. The credit history of the secured credit card will help you build personal credit inexpensively and this will help you qualify for a decent unsecured card in the future.
Property prices are eternally on the rise. Therefore, the demand for home loans is almost always high. To get a home loan, seekers must maintain a good credit score and overall loan repayment behavior. These criteria may seem simple, but fulfilling them becomes challenging for several loan receivers. Due to that reason, many people find it challenging to get conventional loans approved. Pre-approved FHA home loans are the solution for such situations.
What is an FHA home loan?
The Federal Housing Administration (FHA) approves and backs these loans under the jurisdiction of the Department of Housing and Urban Development. Although the FHA pre-approves these home loans, private lenders provide the money directly to loan seekers. These lenders can be credit unions, banks, or even some nonbanks, such as online lenders, who are FHA-backed and licensed to be part of the partnership. FHA home loans are known for their low down payment and interest rates. Usually, first-time home buyers and people with credit payment challenges opt for these loans due to their accommodating and lenient nature.
While the federal government does not directly issue FHA loans, it pre-approves and insures them to safeguard the private lenders who offer them to home loan seekers. The insurance bit comes in handy for the lenders when people who take these loans default on the repayments. FHA home loans help buy or refinance several types of homes, such as two-to-four-unit multifamily homes, condominium units, single-family houses, and precisely manufactured homes attached to permanent foundations.
While people who receive this loan can use it to build new constructions or renovate existing homes, all properties built using them must undergo FHA appraisal.
Requirements to get an FHA home loan
Individuals looking to receive an FHA home loan need to tick certain boxes, such as:
The loan will only be provided if the home being built or bought is a primary residence and not a second home or an investment property.
As specified earlier, the home built or bought with FHA home loans must be appraised by an FHA-approved appraiser beforehand.
Loan seekers will have to let FHA officials inspect the property. After the evaluation, a report can be created regarding the same. This report will contain detailed information about whether the home meets minimum property standards.
Apart from these, aspects of the loan, such as the down payment amount, credit score, mortgage insurance, loan limits, and income requirements, will also be carefully considered before the loan is handed out to seekers.
The FHA holds the authority over the approval or rejection of these loans. Also, this body can add or remove criteria for specific scenarios.
Process of getting an FHA home loan
The loan criteria is only the tip of the iceberg when it comes to FHA home loans. Here’s the complete process of how these loans work:
Show valid documents to confirm that loan seekers meet the minimum requirements, which include a credit score of at least 580 (which is comfortably lower than the 620 that most banks demand in return for conventional home loans), proof of income, records showing no recent bankruptcies, residential address, social security details, and other personal information for verification purposes.
The second step involves choosing an FHA-approved lender to receive the money. Lenders need to have experience in loan origination, possess licensing in each state the lender serves, have a positive net worth, have a bond, a completed application and incorporation papers, and maintain detailed credit reports for loan officers as well as the lender themselves.
While looking for lenders, loan seekers can compare terms, rates, and fees each lender offers before zeroing in on one. Individuals looking for FHA home loans can also consider factors such as the lender’s customer service, physical location, and typical customer.
The next step involves applying for and getting pre-approval from the FHA for a loan. A Pre-approval is the process of a lender reviewing loan-seekers financial documents and credit history before letting them know about their eligibility for an FHA loan. While pre-approval does not guarantee the reception of a loan (there needs to be a further evaluation before that), it speeds up the process.
The subsequent step is to provide documents and officially apply for a loan. That includes submitting the following information: income sources, income amounts, housing expenses, details about previous and current employment, and recurring debts.
The next step involves property inspection and appraisal by a certified FHA appraiser. After this, the FHA will perform the underwriting and approval of the loan. The final step involves signing the loan documents and paying the closing fees and costs of the lender and FHA’s services.
Benefits of FHA home loans
Low creditworthiness requirement
As alluded to earlier, the credit score requirements to receive these loans are much lower than that of conventional loans. This alone makes it easier for people with less-than-perfect credit history (a large majority) to get the loans to build or buy the house of their dreams.
Low down payment
While receiving FHA loans, one can access financing for their home with only 3.5% needed as a down payment. This figure is considerably more affordable than the 20% figure that most other loan providers demand from seekers.
Low DTI requirements
A person’s debt-to-income (DTI) ratio compares their monthly debt to their income. There are many people who earn low incomes and have inherited huge debts from their families. For such individuals, the low DTI requirements of FHA home loans are a welcome relief while looking for financing or refinancing avenues for their houses.
Adventure lovers crave to own a side by side UTV that would be the perfect friend on their off-road quests. In order to buy an ideal UTV to suit individual needs, a buyer first needs to know the basic of an UTV and even do some research into the details of UTV to know what is what and to help them buy one with value for money that will fit well for their quests because buying the wrong one could be waste of money as well as make a person lose interest in the off road experience. Spending a good amount of time advising dealers, as well as used UTV sellers, can help to enhance knowledge regarding UTV and also give out a fair idea as to the market trends and the available accessories that can be good value for money.
The first point to remember while buying a UTV is to fix on the right seller and eliminate the deceptive ones. Knowing a seller is as important as the UTV one is buying because the wrong seller can try to impose a wrong machine on the buyer while an honest seller will be able to lay out the choices for the buyer to puck. Instead of just knowing the glorified-pros of a UTV, a seller should be able to reveal the hidden cons too so that a buyer knows what they are paying for.
In the case of purchasing a used UTV, it is important to check the engine oil as that could reveal the working of the machine. By checking the oil, a buyer would be able to look at the wear and tear of the engine as well as estimate the UTV’s performance by checking with the seller’s revelations as well as the quality of the oil in the machine. The next step to know the machine’s performance would be to check the low or dirty coolant and estimate from the color of the coolant and the radiator cap as to whether there are any damages to the engine and also test its performance in the process. Some of the other important factors to take note of before purchasing a vehicle would be to check the driveline, inspect the frame, and look at the overall maintenance of the UTV to know the true condition of the machine you are about to purchase. It would be better to tag a known mechanic or service man with you who would be able to aid in the estimation of the UTV.
Having a poor credit score may affect you in several ways. Most banks and non-banking financial institutions consider your credit score before making a lending decision. However, if you have a bad credit, you may still apply for a bad credit car finance for the purchase of a new or a used car and manage to save yourself from high-interest loans.
Here are the four best car financing options you may consider if you have a bad credit history.
Auto Credit Express®
Auto Credit Express® helps individuals with a bad credit get a loan for a brand-new car or a used car. They have built a network of car dealers that make it easier for you to find a dealer. This will save you the hassle of visiting several dealerships and running credit report inquiries with each of them.
Auto Credit USA
You may apply for a bad credit car finance with Auto Credit USA as they will help you receive financing irrespective of your credit score. This, in turn, will help improve your overall credit score. The company strives to make it easier for you to purchase the car of your dreams by offering low payment terms. With low interest rates, you may figure out a way to make your regular monthly payments that fit your budget.
AutoStar USA
The lender offers a guaranteed bad credit loan approval for your car finance. They have an easy and straightforward loan application process, which will help you avail of a loan even with a bad credit score. They offer car finance for all new vehicles as well as used vehicles.
myAutoloan
With myAutoloan, you will be able to connect with lenders within a few minutes. Irrespective of your credit score, you will be able to find a lender who is willing to help you with the finance of your car. It also has an interest rate estimator that gives you an idea about the kind of annual percentage rate (APR) you might get.
Apart from these lenders, there are leading banks that offer poor credit loans, but they have a higher APR and are more stringent with their rules. It is best to connect with lenders and understand their terms before you make an online application. For an applicant with a bad credit score, the entire process may be strenuous, but with lenders willing to help you, it is now possible to get finance irrespective of your credit score.
Chocolates as gifts can be the best idea, and yet we tend to run out of variety! The trend of making some home-made chocolates and wrapping them to perfection has faded. We’ve got for you some out of the box set of chocolate gifts, that you would be pleased to gift your loved ones.
Beer-blended Chocolates
These might appear to be old school, home-made and exceptionally well packed set of chocolates, but they’re nothing like they appear. Each of these chocolates are usually packed in an assortment, and flavored with different beers. This isn’t the canned beer that is just poured, but is rather made of brewed beer. We’ve all had alcohol chocolates, and yet beer blended with chocolate should be a unique gifting solution.
Wasabi chocolate
A traditional set of chocolates from different parts of the world becomes a good pick for a memorable gift. And hence turning a little towards the east, to check on the different blends tried there with the most basic chocolates always works well. The wasabi chocolates from Japan is perfect for gifting someone who loves Japanese cuisine.
Camel milk chocolate
Exotic is what we usually want when we think of a gift. As absurd as this name sounds, lets break it to you, this would be a fabulous choice for a gift for someone. Camel’s milk is known to be low in fat content, and even has a mineral taste to it. Honey to sweeten chocolate seems doable, right? And to flavor this with our usual set of nuts, seems like just the right combo.
Chocolate crickets
Bugs covered in chocolate, seems just the opposite of what you’d like. But wait, doesn’t it set you to think out of the box? These crickets are usually over roasted and then covered in creamy milk chocolate. The essence of the crunch with the sweetness of chocolate is sure a combination that one would crave for.
Chocolate tea
The present day has introduced a heap of tea types. Be it green tea, strawberry tea, or think of a flavor and you have a tea. To top the list of the new flavors of tea, and to make it the best gift package, you have chocolate tea. Flavors include cocoa, red velvet and a whole lot more of decadence.
Chocolate pasta
That name will allow you to easily say, now I can die in peace. Pasta is the one food, no can ever say no to. And to couple that level of awesomeness with chocolate is just what the world needs.
Soft, plush carpets under the feet give an exquisite feeling, but very often carpet prices can be a deterrent while selecting the carpet of your choice.
While a luxurious carpet can be pricey, a cheap carpet can lack class. So is it the price tag that always determines which carpet is the best to select? That may not be completely true in several cases. There are some important factors to consider and requirements to be kept in mind while selecting that perfect carpet.
The first thing to consider is your lifestyle. Are there pets at home that would jump, play and love to have a routine back rub on the carpet? Then you surely need to buy a hardwearing carpet rather than splurging on a soft, lavish rug. A cheap carpet may be a great option for you in this case.
Some materials from which carpets are made may require cleaning more often than the others. Costly carpets are most of the time delicate and catch stains fast and with higher investments you want to do what’s best for them. However, frequent cleaning may not suit your busy schedule or pocket. With costly carpets, you may not want to take the risk but if you select a cheap carpet, you may not even hesitate to change it often.
Taking into account the wide range of colors, materials, and style in which carpets come, who would want to keep the same carpet for generations? Choosing a cheap carpet surely sounds to be good if you are a trend freak and wants to keep up with changing home décor styles. So whether you are planning to get an iconic Saxony, a looped Berber, a cut and loop, California shag or a frieze, a cheap carpet may be a great option to look at.
Another important thing to consider before selecting a carpet is which area of the house you are buying the carpet for? Is it the bedroom, kitchen, lounge, office or any other area that can do with a cheap carpet? If it is not in an important place where it would often be noticed, a cheap carpet could be the best pocket-friendly option.