As the pandemic continues its run, many lenders are struggling with difficult loan management. While some banks seem to have taken a more restrictive direction, raising the requirements for the granting of personal loans, others seem to have understood the financial difficulties of consumers by granting small-dollar loans at very affordable rates.
A convenient way to borrow money from a bank, credit union, or other lenders; personal loans is a loan that you can pay back over a period of time – usually through fixed instalments with the interests.
A certificate of deposit (CD) is a product offered by banks and credit unions that provides an interest rate premium in exchange for the customer agreeing to leave a lump-sum deposit untouched for a predetermined period of time.
Whether you’re shopping for a new card or getting a handle on an existing one, here are the key terms you need to know to manage your credit cards.