Recent Financial News»

Dubai banks given extra liquidity
(source: BBC News, Sun, 29 Nov 2009 14:07:57 GMT)
The central bank of the United Arab Emirates says it is setting up a facility to provide banks with extra liquidity.

Borders starts closing down sales
(source: BBC News, Sun, 29 Nov 2009 13:45:02 GMT)
The Borders bookshop chain in the UK has started a closing down sale in all of its 45 stores, the BBC has learned.

Visa Electron to be phased out
(source: BBC News, Sat, 28 Nov 2009 14:38:06 GMT)
Two major providers tell Radio 4's Money Box they plan to stop offering customers simple card payment option.

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Moneytip of the Day»

Establishing Credit
If you are new to using credit or a recent immigrant, take out a credit product in order to build your credit history. A credit history is extremely important to building wealth because it is necessary to have access to the financial mainstream. Scores are determined by 5 main categories:
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Question of the Day»

How are credit scores calculated?
Credit scores are determined using mathematical formulas that predict risk. The data used in the calculation of the formulas can be summarized as follows:

a. Payment History - Repayment behavior, including timeliness, the incidence and severity of delinquency, and the presence of charged-off accounts, plays the largest role in calculating a score.
b. Utilization of credit - This reflects the amount of credit outstanding (owed/used) relative to the total available credit.

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Term of the Day»

Capitalized Cost
The amount of money you finance in a lease. Also referred to as "cap cost." If you make a down payment in a leasing situation, it is often called a "cap cost reduction."