At Polam FCU, not only do we strive to provide you with the best financial services possible, we also want to share some guidance and expertise. Peruse our blog for the latest industry news and information relevant to you.
Payday lenders are everywhere; drive past any strip mall in any city and you’re likely to find at least one. These lenders offer short-term loans to potential consumers to help solve their immediate financial issues, and they generally come with high interest rates and a service fee. They can cover gaps in pay periods, and are generally easy to obtain – especially since these payday lenders can be found anywhere. However, before you consider one of these loans, it’s important to understand that they come with a high cost, and it can be hard to get caught up financially▸ continue reading
When it comes to your purchasing power and your ability to find employment or a place to live, three simple digits can make a huge impact – your credit score. This score is the numeric representation of your financial health, and it can make a significant dent in your lifestyle if that score is low. Credit scores generally range from 300 to 850, and anything lower than 600 is considered unstable credit, and can affect your ability to obtain a credit card, rent a home or apartment, or take out a loan. They can also affect the interest rate▸ continue reading