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How Do CDs Work?

Credit Corp

Some banks and credit unions also offer a custom term length. Like traditional savings accounts and money market accounts, traditional CDs opened at a bank or credit union are protected by the Federal Deposit Insurance Corporation (FDIC)or National Credit Union Administration (NCUA) for up to $250,000 per person.

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What Is a Signature Loan?

Nerd Wallet

A signature loan is a fixed-rate, unsecured personal loan offered by an online lender, bank or credit union. It’s called a signature loan because it’s secured by your signature instead of collateral, like a car or an investment account. Getting approved for a signature loan will likely depend on your creditworthiness.

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How to Find the Right Online Personal Loan for You

Credit Corp

When talking about the concept of online personal loans, it’s important to touch on the differences between secured and unsecured loans: Secured loans are those where collateral is put up to secure the loan. For instance, a home would act as collateral in a mortgage or home equity line of credit (HELOC).

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Getting Approved for a Loan After Bankruptcy

Sawin & Shea

Tip: Credit unions often offer better rates than banks because they are non-profit organizations. You will need to use collateral for this, such as money (why would you try to borrow money if you already have money? Apply for a Home Equity Loan or a Home Equity Line of Credit (HELOC).

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Tips for Improving Your Credit: The Types of Accounts in Your Credit Report

Credit Corp

Auto Loans : Auto loans are issued by a bank, a credit union, or a company that specializes in automobile lending. Mortgage Loans: Mortgage loans are issued by a bank, a credit union, or a company that specializes in mortgage lending. Depending on the reason, they often do not require collateral.

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3 Strategies for Paying Lower Interest Rates on a Loan

Credit Corp

The following is a guest post from Dr. David L Tuyo II, president and CEO of University Credit Union. Seek Out Credit Unions or Community Banks. Credit unions can typically provide better interest rates on loans since they’re not-for-profit financial institutions.

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10 Ways to Build Credit Without a Credit Card

Credit Corp

Only become an authorized user if you are both committed to practicing smart credit-building habits. Credit Builder Loans. Credit builder loans aren’t widely publicized, but they are a great way to build credit without a credit card.