Recent Financial News»

Nigerian economy 'to grow by 10%'
(source: BBC News, Fri, 03 Sep 2010 23:04:42 GMT)
Nigeria's economy will hit double-digit growth by the end of 2011 or early 2012, the country's finance minister says.

Bank customers in 'dire poverty'
(source: BBC News, Fri, 03 Sep 2010 23:02:20 GMT)
Banks are accused of leaving some customers in "dire poverty" after taking money out of their accounts without permission.

Petrobras files $65bn share offer
(source: BBC News, Fri, 03 Sep 2010 20:12:33 GMT)
The Brazilian state oil company, Petrobras, unveils plans to sell up to $64.5bn of new stock, in one of the world's largest share offers.

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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."