Smart Borrower Blog

Archive for the ‘Personal Loan Rates’ Category

Big Banks See First Quarter Profits: Loan Delinquencies Are Diminishing

Apr 19th, 2010 @ 5:05 AM by Debbie Dragon

Could the financial crisis be taking a turn for the better? Some think so with many large banks seeing better than expected first quarter profits. After two years of ups and downs, many banks are hoping that the positive start to 2010 will continue. While banks might not totally be out of the woods just yet, they are making some great gains. It seems there might be a glimmer of light at the end of a dark tunnel. Profits across the board can be partially attributed to less loan delinquencies.

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Big Banks Driving Some Consumers to Small Lenders

Feb 10th, 2010 @ 9:25 PM by Amber Nelson

Big banks are still in business, no doubt about it. But according to a CNN article today, their practices may be starting to alienate a portion of their customers. In fact, a recent survey from the Forrester Research company found that the nation’s largest banks like Bank of America and JPMorgan Chase are “among the […]

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Payday Lenders Converting to Small Loan Stores

Nov 30th, 2009 @ 11:32 AM by Debbie Dragon

Tennessee-based Payday lending company, Check Into Cash is converting some stores over to Small Loan businesses. According to South Carolina’s homepage, The State twelve of the South Carolina Check Into Cash stores are changing over by the first of 2010. The other remaining CIC stores will be closing indefinitely. South Carolina’s 12.1% unemployment rate is also having a great impact on the payday loan business considering the concept of a payday loan doesn’t work without a job.

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FICO Score Changes More Forgiving

Aug 27th, 2009 @ 9:32 AM by Amber Nelson

Good news for those hoping to improve their credit. Changes to the FICO model that credit agencies use to determine your credit score is more forgiving for small credit blemishes, according to a recent article in the Wall Street Journal. The new formula, FICO 08, has been made available to lenders by the big three […]

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Banks Take Credit Card Law Frustrations Out on Checking Accounts

Jun 3rd, 2009 @ 8:53 PM by Amber Nelson

Did lawmakers really think that banks would take this new credit card law lying down? As banks got slapped with tighter restrictions on how they can handle credit card billing and rate adjustments, the banks are trying to recoup some of those reduced profits by gouging their checking account holders. The costs always get passed […]

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