Let’s start first with the basics of understanding what an interest rate is. The interest rate is the rate at which a lender will charge for you to borrow the funds from them. This rate is a percentage of the loan amount, so the amount you pay in interest will be based off the principal balance of the loan.
Are you considering getting another credit card? There are many reasons why this may sound like an appealing idea. Depending on your situation, it might be the perfect time or it may be better to wait a bit.
If you’re thinking about opening a new checking account, you might have some questions. We’re here to help you understand when and how a checking account can affect your credit score and how to make sure that impact is a positive one.
