Achieving success as a real estate agent requires more than simply understanding the mechanics of the job. Yes, you should certainly be able to post an impressive listing and understand the ins and outs of closing, but helping buyers and sellers means cultivating a diverse set of skills to navigate a complex and ever-changing real estate market. Here are 10 essential skills every real estate agent should possess.
1. Solid understanding of the market
It doesn’t matter if you specialize in investment properties, second homes, condos, or single-family homes for first-time buyers. The first skill you need is the desire and drive to stay current with market conditions. This includes understanding:
This knowledge helps you find the best properties for your buyers and ensures that you price a seller’s property appropriately.
2. Skillful communication
Communication is one of the most critical skills a real estate professional can cultivate. These skills help you to be both a better listener and a better speaker. And why is this so important?
Real estate professionals who listen carefully better understand their clients’ wants and needs. They won’t waste time on mismatched properties or investments beyond a client’s reach. And when it’s time to wade through complicated contract language or explain the benefits or drawbacks of a property, agents who communicate better have a leg up on their competition.
3. Talent for negotiation
Negotiation isn’t easy. There’s a delicate balance between being assertive and pushy compared to compromising and capitulating. Real estate agents who work hard to refine their skills are better at reading a buyer or seller so they can negotiate the best deal possible, even under challenging circumstances.
4. Dedication to service
Real estate is, in the end, customer service. So how does your customer service measure up?
Do you promptly return emails and phone calls?
Are you available to show properties during high-demand times (weekends and evenings, and, yes, sometimes holidays)?
Are you ready to go above and beyond to meet a customer’s needs?
If you answered “no” to any of the above questions, chances are good your customer relations need some work. This does not mean you should allow clients to walk all over you. But ultimately, if you want to close the deal, the customer (with a bit of hand-holding) is always right. It can be challenging to deal with needy clients, but they can also be the most loyal when you demonstrate your commitment to their happiness.
5. Ability to network
As with many jobs these days, you’re only as good as your team. Real estate agents may seem like lone wolves, but they are just the leader of a tight-knit pack of professionals. These include:
Contractors
Inspectors
Loan officers
Closing agents
Real estate attorneys
Real estate professionals who can call on a trusted network to make the deal move through the channels smoothly are more successful and sought after than those who struggle to make or keep contacts.
6. Marketing skills
Real estate agents are a little of everything: teacher, counselor, and financial adviser. Another hat to place on your head? Marketer.
Nothing draws more potential buyers than a beautifully crafted listing with eye-catching photos and tantalizing text. That doesn’t happen all on its own. And once you get that perfect listing assembled, it’s time to blast it on social media to get even more eyes on it.
Skillful marketing is also about understanding who’s buying and selling. A change in the target demographic means adjusting your marketing strategy appropriately. Some old-school realtors need help to adapt to marketing methods beyond paper advertising or direct mail. Don’t let that be you.
7. Comfort with new technology
Marketing is another area that has seen massive change in the last decade. These days, buyers and sellers complete complex real estate transactions from their couch, never visiting a property or setting foot in a closing agent’s office. So how comfortable are you with new real estate technology?
Can you:
Send and receive documents for electronic signatures?
Set up virtual property tours and respond to questions from them?
Manage tour scheduling on a website?
Decipher property valuation software for clients?
Realtors who are not comfortable with the latest technology in real estate will not be as successful in the years to come.
8. Time management
There’s an old saying: There’s no such thing as being on time — only late or early. It’s common for people to juggle full-time work, family, and volunteer activities, but how do you get it all done?
Time management. It doesn’t matter what your system is for being on time and meeting deadlines, so long as you have one. No client wants to feel like they are last on your list, even if you have a sick toddler or an overdue project for a night class. Use online planning tools or a paper notebook: whatever it takes to ensure your clients get the attention and service they need right on time.
9. Emotional intelligence
Buying and selling a home can be a complex and emotional process. Maybe a family is selling the home of a loved one who has moved to assisted living and needs to liquidate this asset. Perhaps a first-time buyer is realizing the dream of their first step to generational wealth building.
It’s not just a simple business transaction for these sellers and buyers. It’s personal, and you need to have the emotional intelligence necessary to honor their experience while still serving the needs of the transaction. It’s a delicate balance, but it’s essential to ease people through sometimes-challenging transitions.
10. Integrity
Integrity is doing the right thing even if no one is looking, and it can be a difficult skill in a profession with its fair share of dubious loopholes and quasi-legal transactions that nevertheless feel a little “off.”
Don’t be that real estate professional who goes for the deal at any cost. Too many people get so blinded by the possibility of lucrative commissions that they neglect to act ethically. This compromises the respect of the profession overall and can undoubtedly damage your reputation locally.
Act in a way that feels ethical and honorable to maintain personal integrity and achieve a successful career you can be proud of.
Luke Babich is co-founder and CEO of Clever Real Estate.
San Diego giant Guild Mortgage bounced back to profitability in the second quarter, thanks in part to a successful integration of numerous companies the lender acquired in the first quarter. The mortgage shop is laser focused on growing its market share, with company executives noting they are on the lookout for additional companies to buy in the near future.
Guild’s net income was $36.9 million, up from a net loss of $37.2 million in the previous quarter. The lender’s net revenue more than doubled, increasing to $236.8 million from the $103.9 million the lender reported in the first quarter of 2023.
Its gain on sale margin on originations in the second quarter of 2023 was 310 basis points. Guild’s total in-house originations amounted to $4.5 billion, up from $2.7 billion in the first quarter.
Terry Schmidt, Guild Mortgage’s new CEO, said the second quarter results are a reflection of the company’s push to “further scale [its] platform.”
“We are achieving this to the successful execution of our organic and external growth strategy,” she said during the company’s earnings call. “Broader industry challenges persist due to higher interest rates, and limited home inventory, which is putting pressure on production volume and industry margin, however, the Guild brand within the mortgage industry is stronger than it’s ever been.”
Additionally, the lender’s portfolio unpaid principal balance grew to $82 billion as of June 30, up 3% compared to $79.9 billion in the first quarter and an 8% increase from $75.9 billion last year.
“We retain mortgage servicing rights for 84% of the total loan sold in the second quarter of 2023. This provides both reliable fee income as well as continued interaction with our customers supporting our strong recapture rate,” Shmidt said.
The company’s CEO added that Guild’s “strong balance sheet and liquidity position supports ongoing pursuits of additional growth opportunities.”
“Guild has engaged in several opportunistic acquisitions in the recent years, which has grown our reputation as a valued business partner, and we believe the continued needed origination environment will create additional opportunities for us to add smaller businesses to Guild’s platform,” she said.
In recent months the lender has been on a buying spree, acquiring reverse mortgage lender Cherry Creek Mortgage, Legacy Mortgage and Inlanta Mortgage. It also brought on eight branches from Fairway Independent Mortgage in March, adding to its ballooning headcount of over 4,000 employees.
Regarding Cherry Creek, Scmidt noted that within 45 days of acquiring the company it became fully operational and the 500 employees onboarded are “almost going full speed,” Schmidt said.
“We’ve gotten better at integrating [new companies that we bring in], we’re comfortable continuing to work towards adding more of these types of acquisitions.”
Despite solid financial results for the second quarter, year-to-date the company reported a net loss of $0.3 million compared to a net income of $266.3 million in 2021. And to no one’s surprise total in-house originations of $7.2 billion year-to-date were also significantly lower compared to the $11.8 billion reported in 2021.
Guild’s second quarter results beat the expectations of some analysts. A report from Wedbush noted that Guild’s “gain on sale and servicing revenues were higher than expected, driven by higher than expected volumes.”
“The company sees additional opportunities to add smaller businesses to the Guild platform, giving muted origination activity, which should help to generate market share gains over time,” the report added.
Dallas, Texas-based Mr. Cooper Group on Tuesday announced it has completed the acquisitions of Home Point Capital and Roosevelt Management Company. With the deals, Mr. Cooper has moved closer to its $1 trillion mortgage servicing rights (MSR) portfolio target.
Mr. Cooper concluded on Monday a tender offer for Home Point’s outstanding shares after extending the deadline twice. According to Equiniti Trust Company, the depository and paying agent for the tender offer, 136,532,192 shares of Home Point were tendered and not validly withdrawn (98.5% of the total). Mr. Cooper paid $2.333 per share.
“This acquisition adds scale to our platform, bringing us closer to our $1 trillion strategic target while enhancing returns due to attractive yields and positive operating leverage,” Jay Bray, Mr. Cooper’s chairman and CEO, said in a statement.
The deal – which will result in Homepoint becoming a wholly subsidiary of Mr. Cooper – was first announced in May and was expected to close in the third quarter of 2023. Mr. Cooper is paying $324 million in cash and assuming $500 million in outstanding Home Point 5% senior notes due in February 2026.
“The transaction includes the assumption of $500 million in bonds with an attractive rate, and as a result, we do not expect the acquisition to have a material impact on the company’s liquidity, which remains at robust and near-record levels,” Chris Marshall, Mr. Cooper’s vice chairman and president, said in a statement.
Also on Tuesday Mr. Cooper announced it completed the acquisition of Roosevelt and its affiliated subsidiaries, which include a registered investment advisor and licensed mortgage servicing rights (MSR) owner. The expectation was that the deal would close in the second half of 2023. The deal was announced in February.
The private New York-based company, founded in 2008, manages third-party capital on behalf of insurance companies, pension funds, hedge funds and other investors.
“We continue to see significant volumes of MSRs trading in the marketplace with attractive yields. Our asset management strategy is designed to make these yields available to institutional investors while continuing to grow our customer base and operational scale,” Marshall said.
Mr. Cooper ended June with $882 billion in unpaid principal balance (UPB), compared to $853 billion at the end of March, according to its second-quarter 2023 earnings released last week.
The servicing portfolio grew because of Rushmore’s special servicing platform acquisition. But other deals may bring the servicing portfolio to $957 billion, including $83 billion from the acquisition of Home Point Capital and $25 billion in pending bulk acquisitions.
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Are you struggling with debt and feeling overwhelmed? You might also be tired of hearing the same old tips that don’t help at all, like “Don’t buy coffee out” or “Just stop spending money.” Don’t worry — you’re not alone.
Many hardworking individuals like you face similar challenges. The good news is that there are effective strategies for paying off debt faster, even on a tight budget.
This guide will walk you through 10 practical and actionable steps that can significantly impact your journey to financial autonomy. Are you ready to better control your finances? Here is how to pay off debt fast with low income.
In This Piece:
Take Inventory of Your Debts
Create a Realistic Budget
Avoid Any New Debts
Try the Debt Avalanche Method
Consider the Debt Snowball Method
Increase Your Income
Negotiate a Better Rate
Increase Your Credit Score
Consider Debt Relief or Consolidation
Stay Consistent
Step 1: Take Inventory of Your Debts
Before tackling your debts, taking inventory of them is a crucial first step to clearly understanding what you owe, allowing you to understand the full extent of your financial obligations, and developing a comprehensive and more effective action plan.
Start by gathering all your financial statements and creating a comprehensive list of your debts. This includes credit card balances, student loans, medical bills, and other outstanding obligations.
You gain a complete picture of your economic landscape by documenting each debt, including the creditor, outstanding balance, interest rate, and minimum monthly payment. This knowledge empowers you to make informed decisions and prioritize debt repayment strategies.
Step 2: Create a Realistic Budget
A budget can help track your income and expenses, clearly showing where your money goes, but if you want a successful budget, it needs to be realistic.
Creating a realistic budget is essential to pay off debt fast with a low income. You can start by identifying areas to cut back on unnecessary expenses, like reducing discretionary spending, such as eating out. Look for creative ways to save money, such as using coupons, shopping sales, or negotiating lower bills. Though this is good advice, it might not be enough or as simple as it sounds.
Here are more steps and tips to help you create a budget that could work for you:
Track income and expenses: Start by calculating your total monthly income, including your salary, freelance earnings, or any other sources of income. Next, track your expenses for a month to understand where your money is going. Categorize your expenses into fixed costs (rent, utilities, etc.) and variable costs (groceries, entertainment, etc.).
Set attainable goals: Determine how much you can allocate toward monthly debt payments while covering your essential expenses. It’s crucial to set realistic goals that consider your income. Remember, even small monthly contributions can make a significant difference over time.
Prioritize debt repayment: Allocate a specific portion of your budget to debt repayment. Consider prioritizing your debts using the debt avalanche or snowball methods mentioned earlier. By focusing on one debt at a time while making minimum payments on the others, you can make steady progress and gain a sense of accomplishment.
Monitor and adjust: Regularly review your budget and track your progress. Adjust as needed to stay on track and meet your financial goals. Be flexible and willing to adapt your budget as your circumstances change.
Creating a realistic budget requires discipline and commitment, and it’s crucial to paying off debt. By understanding your income, tracking your expenses, and making intentional choices, you can take control of your financial situation.
Step 3: Avoid Any New Debts
It might sound obvious but avoiding new debts can help greatly. Avoid the temptation to rely on credit cards or take out additional loans. Instead, focus on living within your means and prioritizing your financial goals. Of course, implementing this step is easier said than done.
Here are some recommendations to help you avoid accumulating additional debt:
Change your mindset: Understand that taking on new debts will only prolong your journey to becoming debt-free. Embrace living within your means and making conscious choices to avoid unnecessary borrowing will help you pay off your debt faster.
Cultivate healthy financial habits: Practice mindful spending, distinguishing between needs and wants, and make conscious choices aligned with your financial goals.
Building an emergency fund: This is a crucial step to prevent relying on credit or loans during unexpected expenses or financial setbacks. Start by setting aside a small amount from your monthly income until you have a comfortable cushion to cover unforeseen emergencies.
Practice delayed gratification: Avoid impulsive purchases and practice delayed gratification. Before making a nonessential purchase, give yourself a 24-48 hour cooling-off period. This allows you to assess whether the item is a genuine necessity or a momentary desire.
Seek alternative solutions: When faced with financial needs, explore alternatives before committing to new debts, like borrowing from friends or family, negotiating payment plans with service providers, or seeking assistance from local community resources or nonprofit organizations that offer financial aid or low-interest loans.
Remember, avoiding new debts requires discipline and commitment. By adopting a proactive approach to managing your finances and being mindful of your spending, you can stay on track toward paying off your existing debts and achieving financial freedom. Stay focused, make intentional choices, and celebrate your progress.
Step 4: Try the Debt Avalanche Method
The debt avalanche method is a powerful strategy for paying off debt efficiently. With this approach, you prioritize the debts based on interest rates. Additionally, this method provides a clear road map for debt repayment, allowing you to stay focused and motivated as you see progress with each debt you eliminate.
Start by arranging your debts in descending order based on their interest rates, with the highest interest debt at the top of the list. This order will determine the repayment priority. Doing this minimizes the interest that accrues over time, saving you money in the long run. Once you pay off the highest interest, move on to the next one and continue the process.
Remember to continue making at least the minimum payments on all your debts to maintain a good credit standing and avoid penalties. By staying committed to this method and directing your extra funds strategically, you’ll make significant strides toward paying off your debts.
Step 5: Consider the Debt Snowball Method
Another effective debt repayment strategy is the Debt Snowball method. It involves listing your debts from smallest to largest balance and focusing on paying off the smallest debt first while making minimum payments on the others. Once you pay off the smallest debt, you apply the money you were putting toward it to the next smallest debt.
Begin by creating a comprehensive list of all your debts, including credit cards, personal loans, student loans, and other outstanding balances. Arrange your debts in ascending order based on their balances, with the debt carrying the lowest balance at the top of the list. This order will determine the repayment priority.
Continue focusing on one debt at a time until you can pay off all your debts. The debt snowball method is advantageous because it focuses on building momentum and providing a sense of accomplishment by creating small wins, motivating you to continue your debt payment journey.
While this method may not prioritize debts based on interest rates, it provides a structured and motivating approach that can be particularly beneficial for individuals seeking emotional and psychological encouragement along their debt repayment journey.
Step 6: Increase Your Income
How to get out of debt when you are broke? Finding ways to increase your income can significantly impact you but can also be challenging. Consider taking up a side hustle or part-time job to generate extra money.
There are numerous opportunities available, such as freelance work, online tutoring, or selling handmade crafts. Dedicating your additional income solely to debt repayment accelerates your progress. It helps you achieve financial goals sooner, and if everything goes well, you’ll only need to do this for a short time.
Here are a few ideas on how to make extra money to pay off debt fast:
Explore freelance opportunities in your field of expertise
Take on part-time jobs or gig work
Monetize your hobbies or skills
Consider renting out a spare room or property
Participate in online surveys or market research studies
See if you qualify for blood and plasma donations, some places pay for this help
Step 7: Negotiate a Better Rate
Lowering the interest rates on your debts can help you save money and pay them off faster. Reach out to your creditors and explore the possibility of negotiating a lower interest rate. Even a slight reduction in interest rates can make a significant difference.
Here’s a detailed explanation of how to negotiate a better rate and why it can be beneficial:
Review your current rates: This includes credit cards, personal loans, and other forms of debt. Take note of the interest rates, promotional offers, and the terms and conditions associated with each debt.
Research and compare: Understand market rates basics and terms for similar financial products. This will provide you with a baseline for negotiation and help you determine if your rates are higher than what is commonly available. Look for competing offers, promotions, or lower interest rates from other lenders or credit card companies.
Prepare your case: Highlight your payment history, creditworthiness, and loyalty as a long-term customer. Compile improved financial stability or credit score evidence since you obtained the debt. The goal is to present a compelling case for why you deserve a better rate.
If negotiating directly with your creditors doesn’t yield the desired results, consider other options like balance transfers or refinancing.
Balance transfers involve moving high-interest debt to a credit card with a lower interest rate, often with an introductory 0% interest period. Refinancing involves replacing an existing loan with a new one with better terms and a lower interest rate. Both options can help reduce the overall interest you’ll pay and accelerate your debt payoff.
Step 8: Increase Your Credit Score
Improving your credit score can have a positive impact on your financial well-being. A higher credit score can lead to lower interest rates on future loans and credit cards, potentially saving you thousands of dollars in the long run. To boost your credit score, make timely payments, reduce your credit card balances, and keep your credit utilization ratio low. Regularly review your credit reports to identify and address any errors or discrepancies.
Step 9: Consider Debt Relief or Consolidation
If your debts feel overwhelming and unmanageable, exploring debt relief or consolidation options might be a viable solution. Debt relief programs, such as credit counseling or debt settlement, can help you negotiate with creditors to reduce the amount you owe or establish more manageable payment plans.
Debt consolidation allows you to combine multiple debts into a single loan with a lower interest rate. However, it’s essential to research and choose reputable organizations to ensure you make an informed decision that aligns with your financial goals.
Step 10: Stay Consistent
So, what is the best way to pay off debt fast? Consistency is always key. Make your debt repayment a priority and stick to your plan. Celebrate small victories along the way to stay motivated and maintain your momentum.
Remember, achieving financial freedom takes time and dedication. You can overcome your debts and build a brighter financial future with persistence.
Congratulations on taking the first step toward improving your financial well-being. Remember, Credit.com is here to support you on your journey.
Explore our ExtraCredit® program, which provides valuable resources to help you monitor and manage your credit for a small monthly price Or sign-up for our free service that provides an Experian Vantage 3.0 score along with a free credit report card.
Last year I was closely involved with a hotel project on Crete which proved ultimately profitable even though the Greek economy tends to stifle profits. Located at a seaside fishing village turned favored tourist spot is where an entrepreneur named Dimitris Markakis spent sleepless nights to bring a stunning hospitality venture to life. SeaScape Luxury Residences are expanding this year because of a combination of impeccable design, efficient marketing and sales, and an age-old equation that involves geographical fate.
“In Tune” Development
Not so many years ago Agia Pelagia was a tiny fishing harbor where goats and sheep were as likely to be seen on the stunning beach as sunburned tourists are today. Once a majestic port for the Bronze Age Minoan civilization, today the town offers delectable Cretan cuisine straight in front of one of Crete’s most stunning swimming, snorkeling, and watersports spots. But when Dimitris Markakis described for me how the good fortune played a role in Crete development, I was reminded how timing is everything. As it turns out, property on the seaside in places like Agia Pelagia was once deemed worthless by the patriarchs of agrarian families.
When these properties were passed down, the favored sons and daughters were given farmlands, olive groves, and orchards – the youngest or those in disfavor, they got beachfront. Talk about a “twist” of fate. As luck so often has it, those less favored siblings mostly sold their property for pennies rather than drachmas. Smart entrepreneurs and those seeking lots by the seaside were the beneficiaries. Today, however, the problem for property developers and entrepreneurs is the economy, taxes, and plummeting prices, not to mention the dire need to build sustainably. With the touristic corporations bearing down on Crete, local entrepreneurs are under increased pressure to conform. SeaScape is a truly non-conformist idea when compared to the big seaside developments.
Bucking the trend to build, Markakis’ and his brothers’ not only had the challenge of creating a luxury self-catered vacation abode, they were also building a brand new development into an already crowded village geography. Agia Pelagia, like other Cretan seaside villages, is struggling to preserve its Cretan traditions and identity, so the SeaScape development came with myriad difficulties above and beyond potential profit and loss. Ultimately, the property designed by the gifted architect, Lefteris Tsikandilakis got built despite a couple of hundred logistical and bureaucratic hurdles.
Last year I interviewed Lefteris Tsikandilakis, the gifted architect who designed SeaScape Phase One to find out more about the overall vision of this amazing self-catering boutique resort. I got from the designer the developmental philisophy behind this new development:
“It is obvious that every residence is unique, but that wasn’t necessarily the principal design purpose. In this particular project, we had to deal with 2 challenging plots with sharp slopes, their integration in an already developed building, and the need for these plots to be configured in the best possible way. The sea view, the orientation and the scope for the internality of the plot, were principal elements that defined the spatial design.”
The Recipe
SeaScape Luxury Residences became a success in its first year of operation, despite all the hurdles, because of the cohesive efforts for design, efficiency, sensitivity to the local environment, marketing, sales, and creating the perfect guest experience. On the latter, Dimitris Markakis offered this:
”Seascape Luxury Residences” redefines the meaning of “Cretan hospitality” with the addition of 15 new residences with differentiated comfort and innovative design. Every guest here will experience luxury and truly relaxing vacations in the heart of the cosmopolitan village of “Agia Pelagia”. The additional residences feature a unique architectural design that combines simplicity with stylish luxury. The modern decoration aesthetics accentuate out themes of ultimate tranquility and relaxation that every guest needs and expects during summer vacations.”
SeaScape is a stunning property, in the perfect location, and the development actually adds to the aesthetic of Agia Pelagia, rather than detracting from it. This brings me to location, and how complex the job was for Markakis and his team. Choosing to put a hotel in the wide open spaces is one thing, but designing with a vision smack in the middle of a thriving small village is another. The developers of SeaScape had to take into consideration the streets, thoroughfares, zoning, touristic and service traffic, neighboring houses, stores, villas, and so forth. Knowing the value of being in Agia Pelagia may have been a given, but displaying everything in the town for a spell brought looks of concern from the community. I know Dimitris spent many sleepless nights worried over civic outrage over huge cement trucks and etc. I’m sure he wondered many times whether or not he’d selected the right location – ultimately he was proven right. The beautiful people lounging (as in the Instagram share below) at SeaScape last summer must have been a rewarding experience for the owner.
Building a brand new vacation residence is hard enough. No matter how compelling any development is on paper, the team that designs, builds, organizes, and promotes must work as harmoniously as possible with the same goals in mind. And once the luxury residences were up, the twin swimming pools filled, the chic pool bar stocked and pillows fluffed, then came the branding and the rush to bookings. I was on the site two weeks before the first guests were slated to arrive, and I can tell you SeaScape looked about half complete. Miraculously, the team opened on schedule and the world of the sales and marketing team came into play. I spoke briefly about SeaScape Phase One, and the new expansion with Giorgos Ergazakis, who’s the Director of Sales at Plarino – Hotel Management Services, the company that handles SeaScape sales strategy. Here’s what he had to say about SeaScape’s initial success:
“The SeaScape Luxury Residences case is interesting for several reasons. Given the end product and the clearly demonstrated vacationer value at the end, most sales execs would consider the property and easy sell. But SeaScape sits in the middle of the amazing competition. We are very prou ofd our marketing and pricing competitiveness helped make the property profitable in such a short time.”
Vision, location, a clear strategy, creating an effective team, and presenting the destination and the accommodation value to the public effectively, all this and more led to SeaScape’s initial successes. And now SeaScape Phase Two is slated to open in the Spring at Agia Pelagia.
Expanding On Success
SeaScape Phase One was built upon vacant lots alongside an existing apartment complex at Agia Pelagia. Markakis’ vision had always been to expand the new property to integrate with these existing apartments. Design wise, the trick is to shape the facades and the surrounding environment so that Phase One and Two are combined aesthetically and functionally. My texts from Lefteris Tsikandilakis’ offices speak of key materials usage to make this integration perfect, but the architect’s job is not only about congruent materials. Tsikandilakis will have to create the same sense of casual luxury in this second phase, that guest experienced and talked about from SeaScape Phase One. As the architect told me, SeaScape exists as a perfect balance of interiors and exteriors which create an overall sense.
The second part of the SeaScape story will be completed when more visitors to Agia Pelagia go home to express the special experience of place that many believe can only be achieved here on Crete. Marketing and sales for SeaScape Luxury Residences will be challenged to meet or exceed last year’s successes. The staff will certainly be expanded, guests will expect their luxury holiday, and if my guess is right, many more holiday seekers will become purist fans of one of the world’s most fabulous island getaways, in no small part due to the efforts of Dimitris Markakis, a smart Crete businessman bold enough to be different.
Phil Butler is a former engineer, contractor, and telecommunications professional who is editor of several influential online media outlets including part owner of Pamil Visions with wife Mihaela. Phil began his digital ramblings via several of the world’s most noted tech blogs, at the advent of blogging as a form of journalistic license. Phil is currently top interviewer, and journalist at Realty Biz News.
This is a guest-post from Tim Ellis, author of Seattle Bubble, a blog and forum dedicated to discussing real estate market conditions in the Seattle area.
“If you rent, you’re throwing away your money.” “Owning your own home is a forced savings plan.” “Home ownership is an excellent path to build wealth.”
You’ve probably heard statements like these plenty of times. On television, radio, the internet, and in casual conversation. Such sentiments are common in any discussion that involves home-buying and personal finances. It’s common knowledge that buying a home is a better financial move than renting. After all, you’re building equity instead of throwing away your money, right? Well, maybe not quite… Rather than assuming the “common knowledge” on this subject is accurate, let’s take a look for ourselves at some of the financial differences between renting and home-buying.
A Real-World Example
For the purpose of comparing renting to owning in this article, I’ll be using real-world data gathered from my area (northeast of Seattle). Although most first-time buyers tend to move from renting an apartment to buying a larger, stand-alone house, as much as I can I will compare apples to apples.
For rent, I located a 3-bed, 2.5-bath, 1,840 sqft house with an attached 2-car garage, on 0.2 acres. Monthly price: $1,495.
For purchase I found a 3-bed, 2.5-bath, 1,850 sqft house with an attached 2-car garage, on 0.22 acres. Price: $424,950.
The two homes are located within two miles of each other in similar neighborhoods, and neither is located on a busy road. We’ll assume that our hypothetical homebuyer is a married couple with $85,000 in the bank to make a 20% down payment. To calculate mortgage payments we will use a recent 30-year fixed interest rate of 6.25%.
Let’s look at how the monthly costs break down (approximately) for our hypothetical potential first-time homebuyer:
Renting
Buying
Rent/Mortgage:
$1,495
$2,093
Insurance:
$20
$163
Property Tax:
–
$407
Tax Savings*:
–
($327)
Maintenance:
–
$354
Total:
$1,515
$2,690
*: (less standard deduction)
Right off the bat, you see that simply trading straight across from renting to owning results in a 78% more expensive monthly bill. That’s not exactly chump change. With even a slight upgrade from renting to buying (which most first-time buyers are prone to do), you can easily see how the total monthly costs would be more than double.
“If You Rent, You’re Throwing Away Your Money.”
Common knowledge says that despite today’s large premium, buying a home is a “good investment”. Hey, at least you’re not “throwing away” your money, right? True, the renter in our scenario spends $1,515 every month that they will never see again. I wouldn’t exactly say it has been “thrown away” any more than money spent on any other good or service is “thrown away,” but granted, there is zero financial return on that money.
However, when you take a look at the breakdown of the homebuyer’s monthly expenses, a large amount is money that will never return, either. Insurance, property tax (less tax savings), and maintenance, add up to $517 every month that is being “thrown away.” Even worse is the amount spent on mortgage interest. Consider how much of a mortgage payment is applied toward loan interest throughout the life of a 30-year fixed loan:
Years
% toward interest
0-5
~80%
6-10
~70%
11-15
~60%
16-20
~50%
21-25
~35%
26-30
~10%
In the first five years, approximately 80% of the mortgage payment goes toward interest. That’s an additional $1,674, for a total of $2,191 being “thrown away” every single month by the homebuyer for the first five years. Ouch! In fact, not until the homebuyer has been paying down the mortgage for over 20 years will the amount they are “throwing away” be less than the renter.
“Owning Your Own Home is a Forced Savings Plan.”
As you can see above, if home buying is like a savings plan, it’s probably the worst savings plan on Earth. Would you voluntarily sign up for a savings plan where well over half of the money you deposit in the first 20 years simply vanishes, and from which you can only withdraw money by relocating and paying a 6-9% fee (not on the amount you have “saved” mind you, but on the total sale price of the home)? Of course not. That doesn’t sound anything like a savings plan.
If our potential homebuyer has that $85,000 saved up for a down payment and deposits it along with just half of the monthly savings over buying ($578 per month) into an account at 8% interest, the balance will be nearly $300,000 in just 10 years. That’s a liquid investment, that can be used for whatever you want, no relocation required. Buying a home is not a savings plan. Actually saving money every month is a savings plan.
“Home Ownership is an Excellent Path to Build Wealth.”
If your goal is to build wealth, you will be much better off investing your money in the stock market than buying a home. While both stocks and housing are cyclical markets, long-term historic trends show that housing appreciates at a rate barely above inflation, while stocks tend to return an inflation-adjusted 7-10%. In our hypothetical scenario, a renter who invested in the stock market with the $85,000 down payment plus the monthly difference between the $1,515 rent and the $2,690 home-buying costs would be over $500,000 better off after 30 years than the homebuyer, assuming 4% average appreciation.
An important thing to consider is that home prices in the United States are just now beginning to correct from an enormous unprecedented run-up in recent years. Despite what those in the business of selling real estate may insist, the correction in housing is still in the early stages. Four percent is most likely overly optimistic for most areas in the next 5-10 years. The only thing we know for sure is that double-digit gains are gone and won’t be coming back any time soon.
Also keep in mind — I mentioned it above but it bears repeating — in order to cash in on any “wealth” you build through your home you will need to sell that home and move. No, “extracting equity” does not count, since that simply results in a larger debt. Debt is not equal to Wealth.
Conclusion
For most people buying a home will result in their largest monthly bill (by far), and because they believe that it will bring them wealth or that they are “throwing away their money” if they rent, they often take on a much larger home debt than a prudent budget would allow. It is a real shame when people are driven to get into the housing market because of misplaced notions of imagined financial benefits. Of course, everyone’s circumstances are different, and for some (particularly those that live away from the coasts) the numbers may actually work out in favor of buying.
Don’t misunderstand me here. I am not saying that no one should buy a home, or that my example scenario is a golden standard of truth for all. Don’t take my word for it. Run the numbers for yourself, check out other articles (a small collection is listed below), and do what works for you. I highly recommend the great graphical calculator from The New York Times for comparing the financial aspects of renting and buying. Many people will consider all of the consequences — financial, emotional, etc. — and conclude that buying a home is the best decision. Just don’t trick yourself into thinking it’s a good financial decision if it’s not.
I myself intend to buy a house some day. However when that day comes, I will be buying a house because I want a nice, “permanent” place to live where I’m the boss, not because I think it will help me get me rich.
Additional Resources
Wall Street Journal: Your Home Isn’t the Nest Egg That You May Think It Is New York Times: A Word of Advice During a Housing Slump: Rent New York Times: Is it better to buy or rent? (graphical calculator) The Motley Fool: The Worst Investment Ever SmartMoney.com: Renting Makes More Financial Sense Than Homeownership CNN Money: Stocks vs. Real Estate Priced Out Forever: Renting vs. Purchasing
For all intents and purposes, the average 30yr fixed rate at the average lender is as high as it’s been since November 2022. The number itself as far as we see it is 7.10 which means most lenders are quoting 7.125% after adjusting for discount points (or just “points” for short).
For example, a borrower could opt to pay just over 1% of the loan balance upfront in order to drop the rate to 6.625%. Some lenders are quoting 6.625% with that extra upfront cost. Others are quoting 7.125% without the extra cost.
The upward momentum in rates didn’t draw on any specific news or developments today. Rather, markets are bracing for impact from upcoming economic data as well as tomorrow’s announcement of the latest borrowing amounts from the US Treasury.
Treasury issuance matters because Treasuries are one of the most important determining factors for interest rates in the U.S. The more that are issued, the lower the price and the higher the yield/rate. Analysts know the amounts will be going up and markets are nervous and uncertain about the amount of the increase.
Once that’s resolved, and if the week’s remaining economic data paints a cooler picture for the economy, rates could easily recover. On the other hand, if the data is upbeat and if Treasury issuance rises more than expected, the upward momentum will continue.
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations.
A cashier’s check is a guaranteed payment method issued by a bank on behalf of an account holder. It ensures the funds are available and provides added security against fraud or insufficient funds.
If you’re about to spend a significant sum of money—say for a down payment on a new car or your closing costs on your first house—there’s a chance you’ll be required to provide a cashier’s check.
If you’ve never heard of or used a cashier’s check, you may wonder why you can’t just write a check from your personal checking account to handle the transaction. After all, they’ve already approved you for this transaction, so what gives?
In this comprehensive guide, we’ll explore the concept of a cashier’s check, its importance in different situations, how to obtain one, associated costs, alternatives, and much more. Let’s dig in.
In This Piece:
What Is a Cashier’s Check?
Why Would I Need a Cashier’s Check?
Pros and Cons of Cashier’s Checks
Where to Get a Cashier’s Check
How to Get a Cashier’s Check
How Much Does a Cashier’s Check Cost?
Can I Buy a Cashier’s Check with My Credit Card?
How Long Is a Cashier’s Check Good For?
Cashier’s Check Alternatives
Cashier’s Check vs. Money Order vs. Certified Check
What Happens If I Lose My Cashier’s Check?
What Is a Cashier’s Check?
A cashier’s check is a check written by your bank or another bank on your behalf and is guaranteed by the bank. It offers the advantage of guaranteed funds and additional security features, making it a preferred choice for large transactions. Unlike personal checks, you cannot return cashier’s checks for insufficient funds.
How does the cashier’s check work? First, the bank removes the funds from your account or accepts cash or a personal check. The bank then writes a check for the same amount to the recipient of your choice. The bank typically charges a small fee for providing a cashier’s check. These checks also have extra security features, like watermarks, color-shifting ink, and security thread, that make them difficult to counterfeit or commit fraud against and protect personal information.
Why Would I Need a Cashier’s Check?
Cashier’s checks are essential in many situations where guaranteed funds are required. For example, when making a large purchase, such as a car or a house, sellers often prefer cashier’s checks to ensure the payment is valid and secure. Cashier’s checks are also commonly used in real estate transactions, debt settlements, and other scenarios where trust and security are essential.
Pros and Cons of Cashier’s Checks
Cashier checks offer several advantages, including guaranteed funds, increased security, and broader acceptance. They are widely recognized and trusted by institutions. However, there are also some drawbacks to consider, such as associated fees and the need to visit a bank in person to obtain one.
Let’s look at the pros and cons of cashier’s checks.
Pros of Cashier’s Checks:
Guaranteed funds: Offer more assurance than personal checks since the bank backs them. The funds are guaranteed, ensuring that the recipient will receive the payment.
Enhanced security: Typically come with additional security features, such as watermarks, holograms, or special paper, making them difficult to counterfeit, which provides an added layer of protection against fraud.
Widely received: Commonly accepted by individuals, businesses, and institutions, preferably for transactions involving large amounts of money, such as real estate purchases or vehicle sales.
Faster processing: Usually processed more quickly than personal checks since they are already verified and guaranteed by the bank. This can be beneficial when time is of the essence in completing a transaction.
Record of payment: They provide a clear paper trail and proof of payment, which can be useful for record-keeping purposes or in case of any disputes or legal matters.
Cons of Cashier’s Checks:
Cost: One of the main drawbacks of cashier’s checks is the associated cost. Banks typically charge a fee for issuing a cashier’s check, ranging from a few dollars to a percentage of the check amount. This fee adds to the overall expense of the transaction.
Inconvenience: Obtaining a cashier’s check may require visiting the bank during business hours, which can be inconvenient, especially if the bank is not easily accessible. This can be a drawback for individuals who prefer more convenient digital payment methods.
Loss: Like any physical document, it can be lost or stolen. If a cashier’s check goes missing, replacing it can be time-consuming and may involve additional fees or requirements from the issuing bank.
Limitation: While cashier’s checks are suitable for large transactions, they may limit the maximum amount you can write on them. This can be a disadvantage if you need to make a payment exceeding the limit set by the issuing bank.
Inflexible: Once a cashier’s check is issued, it is generally non-negotiable. Unlike personal checks, they cannot be canceled or modified. This lack of flexibility can be a disadvantage if any changes or adjustments need to be made to the payment after the check is issued.
Considering these pros and cons is essential when deciding whether to use a cashier’s check for a specific transaction. Assess your needs, the transaction’s requirements, and the associated costs to make an informed decision.
Where to Get a Cashier’s Check
Obtaining a cashier’s check is relatively straightforward. Nearly every banking institution offers this service. You can inquire with your bank whether you can request a cashier’s check by phone or if you need to visit your local branch.
Generally, you can purchase a cashier’s check directly from a branch office. Inform the teller of the desired amount, and they will confirm the availability of funds in your account. The check amount may be frozen in your account until it clears or withdrawn immediately.
How to Get a Cashier’s Check
Typically, obtaining a cashier’s check requires you to physically go to the bank. You’ll also need to show your ID and give them the name of the person or company to whom you want to write a check. Some banks may also require a payee address or phone number, so either call ahead to confirm or have that information on hand before going to the banks.
Follow these steps and tips to get a cashier’s check:
Contact your bank and gather the required documents
Start by contacting your bank to inquire about their process for obtaining a cashier’s check. You can call their customer service or visit the bank’s website to find out if they offer cashier’s checks and if you need to visit a branch in person.
In most cases, you’ll need to go to your local bank branch to purchase a cashier’s check. Bringing all the necessary documents and information with you is a good idea to make the process smoother.
When you arrive at the bank branch, approach the teller and tell them you need a cashier’s check. Provide them with the recipient’s name and the amount you want the check to be issued.
Confirm sufficient funds and pay the required fee
The teller will verify that you have sufficient funds in your account to cover the amount of the cashier’s check. They may ask you to deposit the necessary funds into your account if you haven’t already done so.
A fee is usually associated with obtaining a cashier’s check, which varies from bank to bank. The teller will inform you of the fee amount and request payment. Be prepared to pay the fee in cash or deduct it from your account.
In some cases, the teller may ask for additional information, such as the purpose of the cashier’s check or any special instructions you have for the recipient. Provide these details as requested.
Receive the cashier’s check
Once you complete all the necessary steps, the teller will generate the cashier’s check. Double-check the details on the check, including the recipient’s name, the amount, and any additional information.
Keeping the receipt is recommendable. The teller may provide you with a receipt for the transaction. Keeping this receipt for your records is essential, as it serves as proof of purchase and can be helpful if any issues arise.
The specific steps and requirements for obtaining a cashier’s check may vary slightly depending on the bank or financial institution you’re dealing with. It’s always a good idea to check with your bank for their specific process and any additional instructions they may have.
Remember, having all the necessary documents, identification, and funds is crucial to ensure a smooth and hassle-free experience when obtaining a cashier’s check.
How Much Does a Cashier’s Check Cost?
The cost of a cashier’s check varies from tens of dollars to a percentage of the check amount, depending on the bank. Typically, banks charge a small fee for providing this service. It is advisable to check with your bank beforehand to understand the exact cost of obtaining a cashier’s check.
Can I Buy a Cashier’s Check with My Credit Card?
Typically, you can’t buy a cashier’s check directly with a credit card. However, suppose you don’t have sufficient funds in your checking or savings account. Then, you can consider taking a cash advance on your credit card, depositing those funds into your bank account, and purchasing a cashier’s check.
Remember that cash advances often come with higher-than-usual interest rates, so promptly paying off the balance is essential to avoid accruing excessive interest.
How Long Is a Cashier’s Check Good For?
Cashier’s checks typically do not expire, but the issuing bank may have its policies regarding the validity period. As previously noted, checking with your bank for specific procedures, like how long their cashier’s checks are valid, is always a good idea.
Cashier’s Check Alternatives
What if you can’t get a cashier’s check? If obtaining a cashier’s check is not feasible for your situation, alternative payment methods are available. Here’s a list of alternative approaches:
Money orders are prepaid instruments issued by various organizations such as post offices, banks, and retail stores.
Certified checks are personal checks verified and guaranteed by the issuing bank. The bank sets aside the funds in the account and ensures that the check will clear when presented for payment.
Wire transfers allow you to transfer funds from one bank account to another electronically. You can use this method for larger transactions and international transfers.
Online payment services, such as PayPal, Venmo, and Zelle, offer a convenient way to send money electronically. These services allow you to transfer funds directly from your bank account or credit card to the recipient.
Electronic Funds Transfer (EFT) is a secure and efficient way to transfer funds between bank accounts. You can use it for recurring payments, such as direct deposits or automatic bill payments.
Personal checks are a good alternative, especially for smaller transactions. However, they may not provide the same level of assurance to the recipient since they rely on the funds being available in the payer’s account.
Cash may be an acceptable alternative for smaller amounts and transactions between trusted parties.
Remember, it’s essential to assess the specific requirements of your transaction and consider the level of security and acceptance needed before choosing an alternative to a cashier’s check.
Cashier’s Check vs. Money Order vs. Certified Check
Money orders and certified checks are the alternatives to cashier’s checks with more similarities and popularity. They are constantly compared to each other and often bring confusion due to their resemblances. Let’s look at how they compare so you can make informed decisions in the future.
Money orders have typically limited funds, often up to only a few thousand dollars. On the other hand, cashier’s checks can be written for larger sums, making them suitable for high-value transactions. Additionally, cashier’s checks provide an added layer of security as a specific bank guarantees them.
Certified checks are personal checks the bank has verified, marking them “certified.” Cashier’s checks, on the other hand, are written by the bank on your behalf. Both checks offer a guaranteed level, but cashier’s checks are often preferred for more significant transactions due to their wider acceptance and added security.
What Happens If I Lose My Cashier’s Check?
If you lose your cashier’s check before it gets to its rightful recipient, the issuing bank could require that you be bonded for the amount of the lost check before they cut another. This bond, known as an indemnity bond, essentially means that you are liable for the replacement check.
In conclusion, cashier’s checks are a reliable and secure payment method for various transactions. Their guaranteed funds and additional security features provide peace of mind to both buyers and sellers. If you need to make a large payment, consider obtaining a cashier’s check from your bank to ensure a smooth and trustworthy transaction.
For more information on how cashier’s checks work or if you need help finding the right credit card to improve your financial well-being, contact experts.
Citing prepayment speeds at multi-year lows, Spector noted those volumes continued to drive the organic growth of the company’s servicing portfolio, which ended the quarter at more than $576 billion in unpaid principal balance. Inflationary market blamed for quarterly performance Spector blamed the various inflation-induced dynamics for the lowered gains from last year: “With mortgage … [Read more…]
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations.
Can you pay a loan with a credit card? Yes, paying a loan with a credit card is sometimes possible. Yet, whether or not you can do so depends on factors such as the lender’s policies or the type of loan you want to pay off.
Are you looking for a creative way to pay off your loans? If you hope to get extra travel points while reducing your monthly payments, you might wonder, “Can you pay a loan with a credit card?”
This post will delve into the types of loans you can pay off with a credit card and the pros and cons of making these payments.
In This Piece:
Can I Pay a Loan with My Credit Card?
Whether or not you can pay a loan with a credit card depends on various factors, including the lender’s policies and the type of loan you wish to pay off.
While some lenders may allow credit card payments, others may not accept them. Understanding the terms and conditions of your loan agreement before attempting to pay it off with a credit card is crucial.
Which Loans and Debts Can I Pay with a Credit Card?
You can use credit cards to pay off different loan types, providing flexibility and potential benefits. Here are some common types of loans you can typically pay with a credit card:
Personal loans: These unsecured loans can often be paid with a credit card, allowing you to consolidate debt or manage your monthly payments conveniently.
Medical Bills: Many healthcare providers accept credit card payments for medical expenses, allowing you to pay off medical bills over time.
Small Business Loans: If you have a small business loan, check with your lender to see if credit card payments are accepted. This option can offer cash flow management advantages for entrepreneurs.
Balance Transfers: While not a specific loan, balance transfers are a preferred method. They allow you to move existing credit card debt to a new card with a lower interest rate, potentially saving you money in the long run.
Pros and Cons of Paying Loans with Credit Card
Using a credit card to pay off loans has its own advantages and disadvantages. Let’s explore both sides to help you make an informed decision.
Pros
Convenience and flexibility: Paying a loan with a credit card provides convenience and flexibility, allowing you to manage your debt from a single source. It simplifies your monthly payments and can help you stay organized.
Rewards and cash back opportunities: Some credit cards offer rewards programs or incentives, allowing you to earn points or money back on your loan payments. This can be beneficial if you use your credit card responsibly and take advantage of these perks.
Potential for consolidation: If you have multiple loans or high-interest debts, paying them off with a credit card can consolidate your debt into a single monthly payment. This simplifies your financial obligations and may allow you to save on interest charges.
Cons
Higher interest rates and fees: Credit cards typically have higher interest rates than other loan types. If you cannot completely pay off the credit card balance each month, you may incur significant interest charges, which can offset any rewards or benefits.
Impact on credit score: Utilizing a large portion of your available credit can impact your credit score negatively. Additionally, applying for new credit cards to pay off loans may result in hard inquiries on your credit report, potentially lowering your score.
Limited acceptance and more restrictions: Not all lenders accept credit card payments, and some may impose restrictions or fees for using this method. It’s essential to confirm with your lender before attempting to pay off a loan with a credit card.
Then, is it a good idea to pay a loan with a credit card? It depends on your unique circumstances. It can be advantageous in certain situations, such as consolidating high-interest debts or taking advantage of rewards programs.
However, it’s crucial to consider the interest rates, fees, and potential impact on your credit score. Assessing your financial goals and consulting with an advisor can help determine if this approach aligns with your financial well-being.
How to Pay a Loan with a Credit Card
If you’ve decided to pay off a loan with a credit card, follow these steps:
Review loan terms: Confirm that your lender accepts credit card payments and inquire about any associated fees or restrictions.
Assess your credit card’s terms: Check the interest rate, credit limit, and any balance transfer options on your credit card. Ensure that the card’s terms align with your financial goals.
Calculate feasibility: Determine if paying off the loan with a credit card is financially feasible based on the interest rates, fees, and your ability to repay the credit card balance promptly.
Contact your lender: Inform your lender of your intention to pay the loan with a credit card and follow their instructions for making the payment.
Make payments promptly: Pay your credit card bill on time to avoid additional interest charges and late fees.
FAQs
Many questions come up regarding paying loans with a credit card, but there are four common questions people always seek answers for. Let us take a look.
Can You Pay a Mortgage with a Credit Card?
In most cases, paying your mortgage with a credit card is impossible. Mortgage lenders typically require payments through bank transfers, checks, or online bill payment methods. However, you may be able to indirectly use a credit card by utilizing balance transfer checks or money transfer services to pay off a mortgage. Before considering this option, assessing the fees, interest rates, and credit card terms is essential.
Can You Pay Off a Car Loan with a Credit Card?
Car loan lenders generally do not accept credit card payments directly. Like mortgage payments, you can typically make car loan payments through bank transfers or other approved payment methods. However, you may be able to use a credit card to indirectly pay off a car loan by employing balance transfer checks or money transfer services. Evaluate the feasibility and costs associated with this approach before proceeding.
Can You Pay a Student Loan with a Credit Card?
Paying student loans with a credit card is usually not possible. Most student loan servicers do not accept credit card payments because they have high transaction fees. However, you can explore alternative options such as balance transfers or personal loans to pay off student loans. It’s crucial to evaluate the interest rates, fees, and terms of these options before proceeding.
Can I Use a Credit Card to Pay Off Payday Loans?
While it’s possible to use a credit card to pay off a payday loan, it’s generally not advisable. Payday loans can come with high interest rates, and adding credit card interest can lead to significant debt.
Exploring other alternatives for paying off payday loans is recommended, such as negotiating a repayment plan with the lender or seeking assistance from credit counseling organizations.
In conclusion, paying off a loan with a credit card can be a viable option depending on your specific circumstances. It offers convenience, flexibility, and potential rewards or debt consolidation benefits. However, it’s essential to consider the higher interest rates, fees, and potential impact on your credit score.
Assess your financial situation by consulting with professionals if needed, and ensure that your credit card terms align with your goals. To find the right credit card and loans, visit our credit cards and personal loans. Empower yourself to take control of your credit and achieve your financial well-being.