What is a Credit Limit and How is it Determined?
I remember when I was just a kid, Mama sat me down, looked me straight in the eye, and told me I could be anything I wanted — the sky’s the... read more »
By: Eric Bank • 12/4/24
Eric Bank has been covering business and financial topics since 1985, specializing in taking complex subject matters and explaining them in simple terms for consumer audiences. Eric's writing regularly appears on Credible.com, eHow, WiseBread, The Nest, Get.com, Zacks, Chron, and dozens of other outlets. A former software engineer, Eric holds an M.B.A. from New York University and an M.S. in finance from DePaul University.
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9 min read
I remember when I was just a kid, Mama sat me down, looked me straight in the eye, and told me I could be anything I wanted — the sky’s the... read more »
By: Eric Bank • 12/4/24
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595 views
9 min read
Nothing warms up a lender’s heart like good ol’ collateral! Dangle some valued property in front of them, and you’ll likely see that loan... read more »
By: Eric Bank • 12/3/24
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867 views
9 min read
Ever thought about taking up an alternative lifestyle? Maybe going vegan, living in a van, or dressing in a smashing neo-soul wardrobe? It seems... read more »
By: Eric Bank • 12/2/24
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840 views
9 min read
Have any of you ever tried figuring credit scores out? Well, sit tight as I get ready to wade into the world of VantageScore — the credit score... read more »
By: Eric Bank • 12/2/24
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7,524 views
9 min read
Funny thing — many people are insecure, and many loans are unsecured. What do they have in common besides “n-s-e-c-u-r-e?” Well, after pondering... read more »
By: Eric Bank • 11/18/24
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4,257 views
9 min read
I’m not sure when the world stopped caring about privacy. The internet has evolved into a swamp full of online diaries exposing all sorts of... read more »
By: Eric Bank • 11/14/24
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7,966 views
9 min read
Clint Eastwood’s immortal line from the movie Dirty Harry is, “You’ve got to ask yourself one question; ‘Do I feel lucky?’ Well, do you, punk?”... read more »
By: Eric Bank • 11/13/24
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8,274 views
11 min read
Now, I know those scary movies make repossession sound like something horrifying, but it does not take a priest or spooky rituals to drive out... read more »
By: Eric Bank • 11/12/24
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7,004 views
9 min read
What are some things we consider soft? Well, you got your soft-boiled eggs, soft tissues, soft-shelled crabs, soft inquiries … Wait! What? What... read more »
By: Eric Bank • 11/11/24
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7,072 views
11 min read
Subprime refers to a range of credit scores from fair to poor — and even very poor. You don’t just accidentally achieve deep subprime credit... read more »
By: Eric Bank • 11/7/24
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8,304 views
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Let me paint you a picture. You apply for a loan and feel downright giddy after you get approved. But that joy only lasts so long before the... read more »
By: Eric Bank • 10/30/24
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14,070 views
9 min read
Let me assure you that origination fees aren’t some kind of phantom tax that emerges from the shadows to feast on your money. While not exactly... read more »
By: Eric Bank • 10/28/24
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14,915 views
9 min read
Home, home on the credit score range, where critters with three digits are busy scurrying around below the cloudless skies. Some aren’t doing so... read more »
By: Eric Bank • 10/23/24
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7,337 views
11 min read
Whether you adore your New York penthouse view or the fresh air at your farmhouse in Iowa, you can also be proud of the equity you’ve built up in... read more »
By: Eric Bank • 10/22/24
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14,521 views
9 min read
When was the last time you felt a hard pull? Perhaps it was the time you had a tooth yanked out or back when you were a kid playing tug of war in... read more »
By: Eric Bank • 10/21/24
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13,836 views
7 min read
If Dante were writing “Inferno” today, I’d be willing to bet he’d find a spot in the Seventh Circle of Hell for predatory lenders, right next to... read more »
By: Eric Bank • 10/17/24
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20,387 views
9 min read
If ever there was a poster child for love-hate relationships, it’s got to be interest. It makes savers grin from ear to ear, but borrowers feel... read more »
By: Eric Bank • 10/15/24
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15,732 views
11 min read
I was recently surprised when I learned my credit history wasn’t long enough to get top marks from FICO. I’m well past the spring chicken stage,... read more »
By: Eric Bank • 10/10/24
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21,165 views
11 min read
Reading a loan agreement is tedious. Imagine someone handing you the world’s most boring mystery novel — except you already know the ending:... read more »
By: Eric Bank • 10/9/24
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21,774 views
11 min read
Ever wonder how much a lender’s willing to bet on your new house or truck? Well, that’s where the loan-to-value ratio comes in. It’s how the... read more »
By: Eric Bank • 10/8/24