With technology as advanced as it is today, we should touch on the fact that banks keep detailed profiles on each client. The quality of the profile information depends on the type of internal computer infrastructure that exists for that bank. Almost all banks in the United States have a global presence, and a strong [...]

Meet Mr. Roberts Mr. Roberts, a fictional character for this personal financing case study, is applying for a loan when the loan officer (lender) asks him, “What loans and credit cards do you currently have?” Mr. Roberts replies, “Here is a recent copy of my Credit Bureau report I received last week. Can you tell [...]

Aside from insurance, commodity and global market focuses, banks are in the business of lending money to retail and commercial markets to earn a profit. Profit (revenue) is earned through the collection of fees and interest. The Way Banking Was At one time local banks had the upper hand when it came time for the [...]

These four tips will help you maintain a strong credit rating. These are the very basic, and most important tips for keeping your credit rating in good shape going forward. 1) Know your financial worth. It’s impossible to plan and stay on a budget if you don’t know how much money you have to work [...]

You may be surprised to learn that most banks don’t report your mortgage balance or repayment history to a credit bureau agency. When you review your report your mortgage will not appear on it. There is no mistake here. This also means, similar to overdrafts and private loans, a lender reviewing your application for credit [...]