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Archive for July, 2009

How to Refinance your Auto Loan

This item was filled under [ Auto Loans ]

Are you trying to learn how to refinance your car loan? Have you found a better auto loan interest rate? Follow these simple steps to refinance your auto loan and get a lower rate along with a lower monthly payment! Find a Better Loan Rate You can browse websites, local banks, credit unions, etc. There [...]

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CARD Act Hurting Credit Card Companies

This item was filled under [ Credit ]

Now that the CARD act is impending, what are credit card companies doing to mitigate the losses that they will incur? An industry insider gives us a picture of what the future holds for credit card customers. APR Increases This is the most obvious one. Almost all credit card issuers are raising their APR rates, [...]

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What is a Brokerage CD (Certificate of Deposit)?

This item was filled under [ Glossary ]

Brokerage CDs A brokerage CD is simply a CD that is being offered by a brokerage. These CDs are are still issued by the same banks, and you might be able to get higher rates here because there’s a larger set of available banks. You can trade brokerage CDs on the secondary market, which does [...]

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What are Callable CDs (Certificate of Deposits)?

This item was filled under [ Glossary ]

Callable CDs Callable CDs are “callable” by the issuing bank, which means that the bank has the option of closing the account after a protection period. Basically this allows the bank to maintain some liquidity. When you have a callable CD, you’ll get a call protection period. For example, if you have a 3 year [...]

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What are Zero Coupon CD (Certificate of Deposits)?

This item was filled under [ Glossary ]

Zero Coupon CDs Zero-coupon CDs are like zero-coupon bonds. What happens is you buy a CD at a deep discount to the par value of the CD. You’ll usually get a higher interest rate with these CDs, but you won’t get any interest each month, it all gets paid out in the end. For example, [...]

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What is a Liquid CD (Certificate of Deposit)?

This item was filled under [ Glossary ]

Liquid CDs These CDs allow you to withdraw money without being penalized before the term is over. You usually have to maintain a minimum in the CD, and many times the number of withdrawals is limited. The rates on liquid CDs are usually higher than savings or money market rates, but lower than traditional CDs. [...]

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What is a Bump Up CD (Certificate of Deposit)?

This item was filled under [ Glossary ]

Bump Up CDs Bump-up CDs are ideal if rates are increasing. These CDs allow you to “bump up” your rate sometime throughout the term of the CD. You can usually only do this once, and the rate only applies to the remainder of the term. The drawback to this CD is that the starting rate [...]

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What is a Traditional CD (Certificate of Deposit)?

This item was filled under [ Glossary ]

Traditional CDs These CDs are the most common. They typically have minimum deposits of anywhere from 1,000 to 10,000. In the recent down economy, some banks have droped minimum deposit requirements to $1 or even $0, but it doesn’t really make sense to deposit $1 in a CD, as you can’t add to it later. [...]

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