Category: Credit

  • The $400 GSTC Credit Is Available Until…

    The $400 GSTC Credit Is Available Until…

    This post has been updated The Government of Canada and the Canada Revenue Agency announced a slew of measures in the last two months to combat the impact of the dreaded COVID-19 on the country’s economy. The Canada Revenue Agency has deferred the tax filing and tax payment deadline. In order to combat rising unemployment…

  • Tip: How to build your credit score to avail a loan in the UK

    Tip: How to build your credit score to avail a loan in the UK

    Are you applying for a loan has been updated Are you applying for a loan in the UK? If so, chances are you have heard the term credit score or credit rating. Be it a home mortgage, credit card or any form of a loan; a credit score will be used to determine your eligibility…

  • ₹3-lakh-cr emergency credit linefor MSMEs

    ₹3-lakh-cr emergency credit linefor MSMEs

    Article Updated The ₹3-lakh-crore Guaranteed Emergency Credit Line (GECL) for business enterprises/MSMEs (micro, small and medium enterprises) for cheaper and easy working capital credit has been made operational. Under the scheme, there is a one-year moratorium on the principal, but interest is payable during the period. The principal is to be repaid in 36 instalments…

  • Book review: “Intelligent Credit Scoring”

    Book review: “Intelligent Credit Scoring”

      1. Introduction Scorecards are the heart of every modern lending business, from credit cards to house mortgages. The core idea of a Scorecard is to transform the probabilities of a client paying the loan (creditworthiness of an individual) into a number that could be easily interpreted, guiding business decisions. Although Scorecards are not new,…

  • Relief package worth ₹90,000 crore expected to boost credit profile of gencos – News

    Relief package worth ₹90,000 crore expected to boost credit profile of gencos – News

    Discoms’ overdues to all gencos increased to ₹91,700 crore as of March and dues are likely to pile up during lockdown The ₹90,000-crore relief package announced for distribution companies (Discoms) under the Atmanirbhar Bharat Abhiyan would boost the credit profile of generating companies. This would materially reduce their working capital requirements and consequently the debt taken to…

  • Fee Income at Premium as Pandemic Threatens Credit

    Fee Income at Premium as Pandemic Threatens Credit

    The article has been updated Companies today have to work smarter and harder to survive the coronavirus crisis, said Green Dot Corp. CEO Daniel Henry in the company’s recent earnings call. Henry joined Pasadena, California-based Green Dot as CEO on March 26, and has been working remotely to get up to speed on the $3…

  • Lazy Labor taking credit where it isn’t due – News

    Lazy Labor taking credit where it isn’t due – News

    The article has been updated The Tasmanian Liberal Government is getting on with the job of helping Tasmanians to rebuild and recover from COVID-19. Now is not the time for Labor’s continual petty politics but they seem to be relishing in the opportunity to take counter-productive pot shots. For several months, we have been closely…

  • Retro: TransUnion Canada Revises 2020 Credit Forecast

    Retro: TransUnion Canada Revises 2020 Credit Forecast

    TransUnion Canada updated As the COVID-19 pandemic continues to bring unprecedented pressures on consumers’ ability to repay their debt obligations, TransUnion (NYSE: TRU) today released a new multi-scenario credit forecast. TransUnion’s current scenario projects that overall non-mortgage delinquency in Canada will peak at 6.9% at the end of Q3 2020 before gradually dropping back down…

  • What is the employee retention credit?

    What is the employee retention credit?

    Question: What is the employee retention credit? How does it work? Answer: According to Kristin Esposito, AICPA Senior Manager for Tax Policy and Advocacy, the employee retention credit is a new tax credit provided for in the CARES Act. The goal of the credit is to help employers to retain employees during this time of economic uncertainty. A…

  • Tips: What happens to your student credit card when you graduate?

    Tips: What happens to your student credit card when you graduate?

    If you are one of millions of college students planning to graduate in May, you may be wondering what to do with your student credit card once you’ve gotten your diploma. You’ve probably heard the advice that you should never close your oldest credit card. But what happens when your oldest card also happens to be…

  • CNBC: Who’s responsible for your kids’ unauthorized credit card charges?

    If your kid often plays games on their smartphone or tablet, they may use your credit card to rack up in-app game purchases without your knowledge or approval. This can result in an unexpected and often hefty bill, as was the case when several parents filed lawsuits against Apple, Amazon and Google in 2014 after their…

  • JPMorgan’s U.S. Credit Card Holders Spent 40% Less Due to Coronavirus – News

    BY ELIZABETH DILTS Marshall NEW YORK (Reuters) – Credit card spending among some of JP Morgan Chase & Co’s U.S. customers fell 40% during March and early April compared to last year, as Americans stayed home to protect against the novel coronavirus, according to a new report on Thursday. Spending on non-essential goods and services, like…

  • Fed’s credit operation launched

    By Kate Duguid NEW YORK (Reuters) – The Federal Reserve’s pledged support for exchange-traded funds may not end up costing the central bank much, but will still have the desired effect of keeping the credit market afloat. As part of an unprecedented stimulus endeavor, the Fed announced it would support the ETF market in March,…

  • Coronavirus: From being an MP to claiming universal credit – BBC

    A former Labour MP has spoken about being unemployed for the first time and having to apply for universal credit during the coronavirus lockdown. Paul Sweeney lost his Glasgow North East seat to the SNP at last December’s general election. Until then, he had been expected to rise through the Labour ranks and was working…

  • CNBC: Best contactless credit cards

    Contactless credit cards are a faster and safer way to pay for purchases in-store, especially during the current climate with health and safety concerns top-of-mind. In fact, the majority of Americans (51%) use contactless payments, such as tap-to-pay credit cards and mobile wallets, due to concerns over the cleanliness of signature touchpads and paying with cash.…

  • Warren Buffett credit card warning

    A lot of Americans carry a balance on their credit card: 59% of card holders, or 110 million adults, had credit card debt before the coronavirus pandemic, a 2020 CreditCards.com survey finds. But if you have the means to pay down your balance, it’s better to do it sooner rather than later, said legendary investor…

  • Access Bank to give N50 billion interest-free loans

    Access Bank has announced N50 billion in support of Nigerians through interest-free loans and grants to support communities, the youths as well as micro, small and medium-sized businesses. The bank disclosed this through its official LinkedIn page. It said the move was to support businesses following the crippling COVID-19 lockdown as well as the looting…

  • Mortgage fear if you had a loan ‘holiday’

    Borrowers who took loan repayment ‘holidays’ at the height of the coronavirus crisis are struggling to obtain mortgages despite assurances the breaks would not affect their credit score. Sources told The Mail on Sunday that banks were turning away customers who had taken payment holidays on home loans, credit cards and car finance, months after…

  • Downgrading credit rating amid pandemic

    Union Finance Minister Nirmala Sitharaman on Saturday made a strong case for rating agencies to refrain from frequent rating downgrades during the prevailing Covid-19 pandemic, which has put economies across the globe under stress and raised the need to increase spending even at the cost of enlarging deficits. Participating in the 3rd G20 Finance Ministers…

  • Everyone in a film should get due credit – News

    Filmmaker Wilson Louis feels everyone who is involved in the making of a film should be given due importance. “Be it writer or choreographer or singer, everyone should get due credit. A film is not made by actors and directors only. There are many people behind the camera who put in efforts to make a…

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