MAKE MONEY ONLINE POSTS: 03/14/19

الخميس، 14 مارس 2019

Alternatives to TaxAct: Where to Get the Best Prices and Features

Online tax filers searching for the lowest price often land on TaxAct.com. The service consistently offers some of the lowest price points in the market.

The actual price you’ll pay to file online can be more confusing, though.

Depending on your specific situation, you could ultimately pay more on a platform that publishes lower fees. TaxAct should absolutely be on your short list, but you might also benefit from TaxAct’s competitors.

In this comparison, we’ll take a look at how TaAct stacks up to top tax software TurboTax, TaxSlayer, and H&R Block to help you make the call.

Overview of TaxAct

Cost

Before looking at other leading tax software choices, we’ll go over the basics of TaxAct so you’ll know how they compare to other services.

Here’s a breakdown of TaxAct’s current fee structure. Keep in mind TaxAct could change its prices as the tax season progresses. The same goes for any prices quoted in this post:

TaxAct Free Plan: TaxAct allows free filing for the simplest federal tax situations, and some forms of retirement income can be reported without paying to upgrade. Despite the name, filing a state return will still cost $19.95.
Basic+ Plan for $14.95: Taxpayers with dependents or education expenses will need to upgrade to the Basic+ plan. Filing a state return will cost an additional $19.95.
Deluxe+ Plan for $47.95: If you’re writing off interest, taking advantage of tax credits, or itemizing deductions, you’ll need this plan, and you’ll pay an extra $39.95 for a state return.
Premier+ for $57.95: TaxAct’s most expensive plan allows self-employed, investors, rental property owners, and people with money in offshore accounts to file. A state return will cost an additional $39.95.

Features

TaxAct has improved its customer service this year, especially for customers who pay the most. For example, if you pay $57.95 (plus $39.95 for state filing) for TaxAct’s Premier+ plan, you can get help from a customer service rep who can see your computer screen.

Across the board, though, TaxAct’s customer service still lags behind the higher-priced services, especially services like TurboTax, which offer access to Certified Public Accountants through video conferencing. Unfortunately, TaxAct’s less intuitive interface makes it more likely taxpayers, especially new filers, will need some extra help.

Taxpayers searching for alternatives to TaxAct will notice other services usually publish higher fees. Your tax situation could prevent you from paying more, though, so don’t let the sticker shock scare you away immediately.

File your taxes with TaxAct>>

TaxAct vs TaxSlayer

Cost

We’ll start with TaxSlayer, another budget-friendly option. Although TaxSlayer’s fees aren’t much higher than TaxAct’s, TaxSlayer spreads its services across its fee structure differently:

Free: Like TaxAct, you can file a new federal 1040 for free but not if you itemize or use Schedules 1-6. Unlike TaxAct, you can file your state return for free, too, assuming it’s just as simple as your federal return.
Classic Plan for $17 federal + $29 state: If you’re itemizing this year you’ll need to upgrade at least to a Classic Plan with TaxSlayer. Investors, freelancers, and even landlords can often file at this lowest paid tier which is unusual in the industry.
Premium Plan for $37 federal + $29 state: The extra $20 you’d pay to upgrade from Classic to Premium simply gets you better customer service, including online chatting with tax pros.
Self-Employed Plan for $47 federal + $29 state: This additional $10 price hike gives you special guidance if you’re self-employed and have multiple sources of income, which can create some of the more complex income tax situations.
Ultimate Plan for $57 federal + $29 state: TaxSlayer’s most expensive service offers one-on-one help from a tax pro and bonus features such as audit defense for up to three years and extra protection against identity theft.

Features

TaxSlayer’s Classic plan ($17 plus $29 for state) can handle a wide variety of needs, which means you may be able to pay less with TaxSlayer than you’d pay with TaxAct.

For example, a taxpayer who needs to itemize would need TaxAct’s more expensive Deluxe+ plan but could likely file with TaxSlayer’s cheaper Classic plan. With TaxSlayer and TaxAct, higher priced tiers include better customer service. Filing for free prevents you from getting the most help.

While this pricing philosophy makes a certain amount of sense — simpler tax situations should require less help — customer experience doesn’t always line up so neatly. The services we’ll look at next offer more flexibility.

Choose TaxSlayer if: You have simple to moderate needs and you’d still like to save money.

Choose TaxAct if: You know what you’re doing and you just need an easy way to connect with the IRS and you’d like to save money on user fees.

File your taxes with TaxSlayer>>

TaxAct vs. H&R Block

Cost

H&R Block pre-dates the internet with its nationwide network of 10,000 brick-and-mortar tax offices. The company has done well with it’s online and desktop tax software programs, too.

H&R Block’s fees are higher than TaxAct’s across the board, but H&R Blocks’ free edition is also open to more taxpayers than TaxAct’s. Here’s a current price breakdown. Again, remember H&R Block can adjust these prices during the tax season:

Free Edition: Schedules 1-6 aren’t a problem for free filers with H&R Block. The free plan includes your state return, too. You can opt into help from an H&R Block tax pro for $50.
Deluxe Plan for $49.99 federal + $36.99 state: Unless you need to report capital gains or losses or income from rental property, H&R Block’s Deluxe plan should work for you. This plan also allows Schedule C-EZ, which is enough to help many part-time freelancers write off expenses. For pro help, add another $80.
Premium Plan for $69.99 federal + $36.99 state: H&R Block’s Premium plan allows the flexibility most freelancers, investors, and independent contractors will need, as long as your write-offs don’t exceed $5,000. For pro help, add $90.
Self-Employed Plan for $104.99 federal + $36.99 state: Small businesses or larger-scale independent contractors and full-time freelancers will need this level of service. Add on pro help for an additional $80.

Features

H&R Block has upped its customer service game in recent years by connecting online users with the company’s existing army of tax experts set up in strip malls across the nation. But you can still use H&R Block without paying for this kind of extra help.

In fact, even if you don’t opt for pro help, you can still get technical support and access frequently asked questions, calculators, worksheets, and other resources on the site.

If you’re filing a simple return and can get the job done without paying a fee, you can still tack on the company’s best customer service for $50 if you get stumped along the way.

Choose H&R Block if: You need Schedules 1-6 but would still like to file for free, or if you’re looking for expert guidance and don’t mind paying extra for it.

Choose TaxAct if: You want to save money on fees and you’re comfortable working around tax forms.

File your taxes with H&R Block>>

TaxAct vs. TurboTax

Cost

TurboTax by Intuit tops a lot of people’s list for the best overall platform in the market. The service is easy to use and innovative. In many cases, you’ll pay for this ease of use with some of the highest fees in the market.

TurboTax Free: TurboTax offers free state and federal returns if you don’t itemize. However, you can claim the earned income tax credit and the child tax credit with the free plan.
TurboTax Live Basic for $89.99 federal + $29.99 state: With this plan, you’re basically paying for customer service since it doesn’t expand the software beyond what you could do with the free plan. The customer service includes on-demand video access to a tax pro online.
Deluxe for $59.99 federal + $39.99 state: You’ll need this upgrade to itemize deductions, but you still can’t report rental income or report capital gains or losses. For an additional $70, you can add on video access to a tax professional.
Premier for $79.99 federal + $39.99 state: This tier allows property owners who earn income from rentals and investors who need to report capital gains and losses to file. Get on-demand live video access to a pro for an extra $100.
Self-Employed for $119.99 federal + $39.99 state: This highest tier lets independent contractors and career freelancers file. Add on-demand video access to a pro for $90 extra.

Features

TurboTax’s free version doesn’t include Schedules 1-6, which means more filers will need to upgrade to the Deluxe version compared to H&R Block.

If you do qualify for free filing, you can still pay your way into some of the best customer service support in the industry. You’ll also have access to TurboTax’s innovations, such as the ability to snap a photo of your W2 rather than typing in the numbers.

People who know very little about taxes should give TurboTax a close look because the user interface works seamlessly. You can file with almost no knowledge of tax forms.

Choose TurboTax if: You’re a beginner who needs help and you don’t mind paying for quality.

Choose TaxAct if: You’re comfortable working around tax forms and you’d like a basic interface.

File your taxes with TurboTax>>

What to Look For in a Tax Service

With so many IRS-approved tax software programs now available, you might want to venture beyond these four industry leaders.

If so, be sure you’re getting:

A Guarantee of Accuracy: You don’t want to be responsible for underpayments, and you don’t want to miss out on a bigger refund. And you want some kind of recourse if the software does make a mistake. TaxAct excels with its $100,000 guarantee, for example.
Direct Deposit Options: Assuming you’re getting a refund, you’ll get it faster when you give the IRS your bank account number so it can deposit your refund directly into your account. The best software services give you other options for receiving your refund, such as prepaid debit cards, old-fashioned checks, and even savings bonds.
Simple Data Entry: TurboTax may still be an outlier with its ability to enter W2 data by taking a smartphone photo, but any service should let you enter your data quickly and easily.
Good Customer Service: Even if you don’t opt in, you should be sure you’ll have access to customer service if you need it, whether you have a tax question or a question about how to use the software.
Easy Transfer of Data: A lot of filers don’t want to switch platforms because their current platform already has all their data. The best tax services offer to help you make this transition easier.

Bottom Line: It’s Not All About the Price

Just about everybody likes to save money, so we talk a lot about finding the best and least expensive options for online tax prep.

Ultimately, though, your comfort level with your tax software matters as much as price. All tax filers have different needs.

If you’re accustomed to filling out paper forms the way our parents and grandparents did, any tax software can make tax season easier for you. You’ll have no problem using TaxAct and possibly saving some money along the way.

If you’re new to taxes, a company like H&R Block or TurboTax can make getting your taxes done a much simpler process.

Of course, the ideal would be to have both: a great platform at the best price. So take a look at your tax situation. If you’re a TaxAct user, you may be able to save money while also enjoying a more seamless customer experience.

The post Alternatives to TaxAct: Where to Get the Best Prices and Features appeared first on Good Financial Cents®.

Source Good Financial Cents® https://ift.tt/2TMQvrP

Tax Expert Reveals Why Getting a Smaller Refund this Year is a Good Thing

IRS tax refunds are down about nine percent this year compared to last year. Tax expert Dan Pilla explains why that's actually a good thing.

Source CBNNews.com https://ift.tt/2XQZKXc

Experian Boost Review | Give Your Credit Score a Boost

Is an insufficient credit history or low credit score preventing you from qualifying for a loan or a decent interest rate?

If you use the traditional tactics, it may take you several months of responsible financial behavior to raise your credit score to a favorable level.

Thanks to Experian, one of the three leading credit reporting agencies in the U.S., you don’t have to take that arduous route.

The tool, known as Experian Boost. could raise the credit scores of millions of consumers, especially those that don’t have a significant borrowing history.

It allows users to grant permission to the credit reporting agency to connect their bank accounts and gain access to their telecommunication and utility payments in a bid to update their FICO score in real time.

How Experian Boost Works

In addition to offering free credit reports, Experian wants to help people improve their scores. Here’s a quick breakdown of how Boost can help you.

The Basics of Experian Boost

To begin with, you won’t pay a dime to use Experian Boost. It’s a free tool geared to help individuals struggling with building credit.

If you are looking to boost your credit using the tool, you will have to allow it to scan your bank account transactions to identify mobile phone and utility payments. The information extracted by the tool will be reflected in your Experian credit report and be utilized when calculating various credit scores.

It is worth noting that Experian Boost is only interested in positive payment history. It doesn’t consider defaulted payments.

So, you don’t have to worry about missed cell phone or utility payments hurting your credit score. Once Experian Boost has identified utility and telecommunication payments, you will need to verify the data and confirm that you want it added to your Experian credit file.

Afterward, you will receive an updated credit FICO Score in real time. The entire process takes about five minutes, boosting your credit score almost immediately.

Which Credit Scores Experian Boost Impacts

This tool works with the major credit scores that lenders use, namely:

FICO 8
FICO 9
VantageScore 3
VantageScore 4

However, if a lender uses credit reports from Transunion or Equifax to determine your eligibility for a loan or credit facility, Experian Boost won’t be of any help.

Also worthy of note is that Experian works with Finicity, a third-party firm that facilitates the transfer of data from consumers’ bank accounts to Experian’s credit report repository. You can get access to the tool by registering on Experian’s website.

How Effective is Experian Boost?

Experian Boost by the Numbers

Experian conducted a study to determine the effectiveness of Boost. Here were the findings:

Two out of three: average scores improved
10%: number of consumers who previously had insufficient credit history became scoreable after using Experian Boost.
75%: percentage of consumers with FICO Scores below 680 who had their credit scores improved with Experian Boost
14%: percentage of consumers with a credit score of 579 and below who saw an improvement in their credit score to between 620 and 679.
5 to 15%: percentage who, depending on the credit level, moved into a better score category.

Experian Boost Results

These study findings serve to show that Experian Boost can boost your credit score, especially if you have a thin credit history. However, results may vary from one user to another.

While Boost calculates your score based on the FICO 8 model, a lender may use a different type of score to determine your eligibility for a credit facility.

Nonetheless, boosting that score could eliminate huge barriers for those looking to enhance their financial health. This tool is not only beneficial for consumers. It also helps lenders make more informed lending decisions after seeing consumers’ payment histories.

Can You Benefit from Experian Boost?

Who Should Use Boost

According to Experian, Experian Boost would be ideal if you have less than five trade lines and with a credit score between 580 and 669. However, any credit-active consumer can benefit from the score-boosting tool. In fact, at least 66 percent of consumers will see an improvement in their credit score after using Experian Boost.

Here are a few particular groups who should consider Experian Boost:

Consumers with incomplete or subprime credit scores: These individuals can boost their score when applying for loans and lines of credit.
Young adults: Those looking for credit/loans without much to show in terms of credit history, you will find Experian Boost exceptionally valuable.
Responsible consumers: Those whose good financial habits aren’t reflected in their current credit report could be able to qualify for various credit and loan products.

How to Benefit from Experian Boost

To benefit from Experian Boost, you need to have an online bank account. You also need to allow Experian to scan it electronically. Experian will partner with a financial technology company, Finicity, to check bank statements for qualifying payments.

You should not worry about the security of your information. The system won’t alter your personal data as it uses read-only access. Also, keep in mind that you can revoke the permission granted to Experian at any time.

That means you are in total control and you can only grant access to your accounts only when you need to use Experian Boost.

Alternative to Experian Boost

Another easy way to boost your credit score is through UltraFICO, which is also geared to help thin-file consumers.

How UltraFICO Works

By evaluating cash balances, UltraFICO is poised to help many consumers who otherwise don’t have, or are struggling to build, up credit. It is aimed at giving those who have no credit or insufficient credit the opportunity to build it by demonstrating they can manage their cash accounts.

Like Experian Boost, this platform also needs access to your bank account data to analyze your financial behavior.

UltraFICO doesn’t look at your telecom and utility payments. It looks at your savings balance and whether your checking account has overdrafts.

It is worth noting that this platform is being rolled on a smaller-scale pilot program first before it is fully launched in mid-2019. That means it could take a number of years for UltraFICO to be widely adopted by lenders.

Bottom Line

Your credit score can have a significant impact on your financial health. It will determine whether you are eligible for a loan or credit product and the interest rate you will pay. With a low credit score, you may not be approved for a loan or credit product.

Experian Boost, developed by the credit reporting agency Experian, can help improve your score, particularly if you have not taken out substantial loans or had credit cards in your own name.

You will have to grant Experian permission to connect to your bank accounts and gain access to your telecom and utility payments. Then you can verify the data and confirm that you want it to be added to your Experian credit file. Afterward, you will receive an updated credit score in real time.

With an improved credit score, you will have a higher chance of getting approved for a credit card or loan and save some bucks, thanks to lower interest rates.

If you’re looking for more ways to boost your credit score quickly, check out this helpful guide to get started.

The post Experian Boost Review | Give Your Credit Score a Boost appeared first on Good Financial Cents®.

Source Good Financial Cents® https://ift.tt/2HlAZxA

These 21 Apps Will Prevent Your Spring Break Turning Into Spring Broke

If you’re a college student, the best part of your year is quickly approaching: spring break, baby!

Your goal? To have as much fun as you can.

But you know what can quickly put a damper on that fun? Worrying about money.

21 Apps That Help You Save Money on Spring Break

While you could always figure out a way to earn money during spring break, another strategy is to simply keep your costs as low as possible.

Put your money concerns aside, and save money on spring break with these apps.

Apps for Transportation

1. Hopper

Buy your flight now? Or wait? This old favorite takes the guessing game out of when to purchase tickets by analyzing billions of flights and telling you whether the price is likely to go up or down.

2. GasBuddy

Driving to your destination? Don’t leave home without this app. It lists the cost of gas at nearby stations so you can easily find the best deal.

(Want other options? Check out this list of apps that help you find cheap gas.)

3. Uber / 4. Lyft

Instead of paying for a taxi, get a safe (and cheaper) ride home with one of these services.

5. What3Words

Never get separated from your friends again.

When you’re in a new city with unfamiliar landmarks, it can be tough to describe where you are to your companions — especially if you’ve had a few drinks. This app aims to change that by dividing the world into 57 trillion 10-foot squares.

6. Parkmobile

In a big city or a beach town that’s littered with parking meters? Rather than digging up your quarters reserved for laundry, pay for your spot through this app.

7. Citymapper

You can save big by taking public transportation. However, that can get tricky — especially if you’re not used to it. Citymapper helps you plan trips from point A to point B the cheapest and most efficient way possible.

For accommodations, check out…

8. Airbnb

If you’re traveling with a group of friends, renting a house with Airbnb is both economical and fun. Check out these awesome places under $100 per night across the U.S.

And if your own place will be empty while you’re away, why not consider listing it on Airbnb and making some money while you’re partying?

9. Roomer

Want to book a hotel, but don’t want to pay hotel prices? Try Roomer. This innovative app allows you to book deeply-discounted hotel rooms from people who had to cancel their trips.

10. HotelTonight

If you’re really bad at planning ahead or find yourself in a pickle, book a hotel through HotelTonight. It promises last-minute deals for top-rated hotels.

11. Couchsurfing

If you’re down with staying on strangers’ couches, you can snag some awesome, free sleeping spaces. It’s a great way to meet other travelers and gain a local’s point of view.

For food and drink, check out…

12. Price Per Pint

One of the best ways to save money on food and drinks? Hitting up happy hour. But in an unfamiliar city, it’s hard to figure out where to go. Enter this app, which allows you to search by drink type, day, time and city for the lowest priced drink in your area..

13. Drizly

Because the bar can get expensive, you probably want to spend a few nights drinking at home with your friends. Use this app to compare prices at local stores and order booze for delivery.

14. Open Table / 15. Yelp

These two staples help you find nearby restaurants, peruse customer reviews and survey menus and prices.

For activities, check out…

16. TUN Student Discounts

Embrace your student status. Use this app to help you find all of the student discounts available in your destination.

17. Groupon

You probably subscribe to Groupon updates in your home city — but what about when you’re traveling? Though some of the discounts may only be available to local residents, you’re bound to find some great deals on tickets or activities in your destination.

For everything else, check out…

18. Whatsapp

If you’re traveling internationally, this app is a must. Don’t get slammed by exorbitant international data charges and keep track of your friends by using this app to text over WiFi.

19. Wifi Finder

You use a lot of data when you travel. Avoid going over your limit by connecting to wifi whenever possible; use this app to find hotspots near you. You can also find passwords, so you don’t have to ask your barista.

20. Cost Split

If you’re traveling in a group, figuring out who owes what can be a royal pain. This handy app does it for you, so nobody ends up unfairly paying more than their share. At the end of the trip, it’ll even email out a detailed report.

Then, check out these five money-sharing apps.

21. Noonlight

You can’t put a price on your safety. This app (formerly known as SafeTrek) has several features to give you (and your mom) peace of mind. Hold down the safety button until you’re safely where you need to be. When you get there, release the button and enter your pin. If you’re in danger, release — don’t enter your pin — and it’ll contact 911.

With a few downloads before you leave, you’re bound to enjoy your trip without breaking the bank. Appy Spring Break!

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

source The Penny Hoarder https://ift.tt/2Uwquu2

FreedomPlus Personal Loans Review

FreedomPlus is an online lender that focuses on offering affordable personal loans to consumers with less than stellar credit. Personal loans offered through this lender are arranged by Freedom Financial Asset Management, an asset management firm for accredited institutional accounts. FreedomPlus is also affiliated with the Freedom Financial Network (FFN), which provides consumer advocacy services such as debt consolidation and debt relief through companies such as Freedom Debt Relief, Bills.com, and Consolidation Plus.

Borrowers who need to consolidate high interest debt, pay for a large purchase over time, or take on a home remodeling project may find FreedomPlus has the perfect loan for their needs. This direct lender features generous loan amounts and flexible repayment terms with interest rates as low as 5.99% APR for those who qualify. Their straightforward and fast loan application process can also help you get the funding you need in a matter of days.

FreedomPlus Personal Loans: Key Takeaways

Borrow between $7,500 and $40,000 and receive your funds within a few business days.
Repayment terms are offered between 2 to 5 years.
Interest rates range from 5.99% to 29.99% APR.
Pay an origination fee between 0% and 5% of your loan amount.
No prepayment penalty or hidden fees.

FreedomPlus Personal Loans: A Solution for Borrowers with Imperfect Credit

While FreedomPlus doesn’t list specific credit requirements for their personal loans on their website, they do imply they are willing to offer loans to consumers with less than perfect credit. Not only does the FreedomPlus homepage spread the message that “you are more than your credit score,” but they also note that their loan consultants will go “beyond your credit score to qualify you for a loan.”

If you need to borrow money but your credit isn’t great, this detail is important. It’s possible FreedomPlus will approve you for a personal loan when other lenders will not, although you will likely pay a higher interest rate if your credit score needs work.

Related: What is a Good Credit Score Range?

Why should you apply for a personal loan from FreedomPlus over other lenders? There are many reasons, including the fact you can borrow between $7,500 and $40,000 with a fixed interest rate and fixed monthly payment. Your interest rate can be as low as 5.99% APR depending on your creditworthiness, and you may or may not have to pay an origination fee up to 5% of your loan amount. Aside from the origination fee, FreedomPlus loans come with no prepayment penalty and no hidden fees.

Another benefit of FreedomPlus is the fact you can get pre-qualified for a personal loan without a hard inquiry on your credit report. To get pre-qualified, all you have to do is provide basic information such as your name, email address, home address, verifiable annual income, and phone number. By taking the steps to become pre-qualified, you can find out if you could qualify for a loan from FreedomPlus without harming your credit score with a hard pull.

FreedomPlus Personal Loans: What to Watch Out For

While FreedomPlus makes it clear they’re willing to loan money to consumers with less than perfect credit, keep in mind that you will likely pay higher fees and a higher interest rate if you fall into this category. If your credit is fair or poor, you may even wind up with an interest rate on the higher end of what FreedomPlus offers — up to 29.99% APR. You may also have to pay an origination fee of up to 5% of your loan amount, which could make your loan more expensive than you probably expected.

The reality is, FreedomPlus personal loans are usually best for consumers who can’t qualify for a loan with a lower interest rate and better terms. If your credit is good or excellent, you may be better off with a different lender altogether. With a personal loan from SoFi, Earnest, or Marcus by Goldman Sachs, for example, you wouldn’t have to pay any origination fee and it’s possible your interest rate could be lower depending on your credit score. Since it’s hard to say for sure, definitely shop around and compare personal loans from multiple lenders before you move forward.

While this may not impact you at all, one final detail to be aware of is the fact that FreedomPlus loans may come with limitations depending on where you live. For example, Arizona residents cannot receive a personal loan from this lender in any amount under $10,000. Massachusetts residents cannot borrow less than $6,500, and Georgia residents cannot borrow less than $3,500 through FreedomPlus.

Who FreedomPlus Personal Loans are Best for:

Anyone who wants to borrow between $7,500 and $40,000 to consolidate debt, pay for home improvements, or make a large purchase
Consumers with imperfect credit who can’t qualify for a loan without any fees
Borrowers with great credit who qualify for this lender’s lowest rates and no origination fee

How We Rate FreedomPlus Personal Loans:

At The Simple Dollar, we aim to provide a general overview of a lender’s products and services through a standard rating process. After a thorough research and discovery period, here’s how FreedomPlus stacks up:

FreedomPlus at a Glance
Overall Rating	Affordability (interest rates, fees, and terms)
	Availability (credit requirements, geographic reach)
	Ease of Use
	Transparency

How to Apply for a Personal Loan through FreedomPlus

If you believe FreedomPlus might be the right lender for your needs, you can apply for your loan online and from the comfort of your home. Steps to get approved for a loan include:

Getting pre-qualified. Offer basic personal information in order to find out whether you can qualify for a personal loan from FreedomPlus. Also decide how much you want to borrow and how much you can afford to pay each month during your loan’s repayment period.
Complete your loan application. If you are pre-qualified for a loan amount with terms you can live with, complete a full application to move the process forward. You’ll be asked to provide additional personal details such as your employment information and your Social Security number.
Talk to a loan consultant. FreedomPlus loan consultants will look at your full application to try to find ways you can qualify regardless of your credit score.
Receive your loan funds quickly. FreedomPlus may be able to approve your loan and deposit funds in your bank account in as little as 48 hours.

The Bottom Line

FreedomPlus offers personal loans that can be affordable and easy to qualify for. You can borrow up to $40,000 and repay your loan off in two to five years with a fixed interest rate and fixed monthly payment that will never catch you by surprise. Even better, you can take steps to become “pre-qualified” for a loan without a hard inquiry to your credit report. With this feature at your fingertips, you really have nothing to lose.

Still, the best rates and loan terms always go to those who take the time to compare loans from at least three lenders. Make sure you take the time to shop around and compare offers before you take out a personal loan from FreedomPlus or any other lender.

Related Articles:

The post FreedomPlus Personal Loans Review appeared first on The Simple Dollar.

Source The Simple Dollar https://ift.tt/2UB3BFP

Payoff Personal Loans Review

Payoff is an online loan marketplace that connects borrowers to fixed-rate personal loan offers that can be tailored to meet their needs. The company claims to apply science, psychology, and technology to help their members “reinvent their relationship with money and accelerate their journey toward financial well-being.” However, they mostly do what other personal loan companies do — let consumers borrow money at low fixed interest rates.

The biggest difference with Payoff is the fact these loans are geared toward consumers who need to pay off credit card debt. In other words, these loans aren’t intended other personal loan uses like home remodeling projects or large purchases.

Still, there’s plenty of reasons to apply for a loan from Payoff if you’re in debt. This popular loan platform offers flexible loan terms and may be available to consumers with less-than-stellar credit and high debt-to-income ratios. Payoff loan amounts can be generous if you qualify, and their starting APR is lower than many of their competitors. For that reason, we suggest checking them out if you’re stuck with high-interest credit card debt you desperately need to pay off.

Payoff Personal Loans: Key Takeaways

Borrow between $5,000 and $35,000 to pay off high-interest credit card debt.
Repay your loan in terms that range from 2 to 5 years.
Interest rates range from 5.99% to 24.99%.
You may be required to pay an origination fee of up to 5% of your loan amount.
Payoff loans come with no application fee, prepayment penalty, or hidden fees.

Payoff Loans Review: Smart Personal Loans for Consumers with High-Interest Credit Card Debt

A recent survey from Bankrate revealed some startling (but not surprising) statistics on American credit card debt. Per the survey, only 44 percent of U.S. adults have more money in savings than they do in credit card debt. Meanwhile, a different Bankrate survey found that only 40 percent of people could cover an emergency expense of $1,000 or more in a pinch.

If you’re in a position where you’re struggling with credit card at a high interest rate, you already know how difficult life can be. While Payoff offers yet another way to borrow more money, they set their loans up with the goal of helping you escape debt instead of racking up more.

With a personal loan from one of Payoff’s partners, you can borrow money with a fixed interest rate as low as 5.99% APR. The goal is to use your loan to pay off high-interest debt at a lower fixed rate for up to five years. If you take debt repayment seriously and pay as much as you can without racking up more debt during your journey, the end result of your loan should hopefully be the beginning of a debt-free life.

We like the fact that Payoff loans come with no hidden fees, including:

No application fees
No early or extra payment fees
No late fees
No check processing fees
No returned check fees
No annual fees

Payoff personal loans also come with requirements to qualify that are fairly easy to meet, including a minimum credit score of 640 and a debt-to-income ratio of 50% or less.

As a bonus, Payoff lets you get “pre-qualified” for one of their loans without a credit check. If you’re approved for a personal loan, you can also have your loan funds deposited in your account in just a few business days. If you do follow Payoff’s suggestions and use your loan proceeds to pay off at least $5,000 in debt without racking up other debt, the lender says you could see your FICO score surge by as much as 40 points. Payoff even helps you track your progress by offering free updates on your FICO score through their platform. They may even pause your payments for a while if you lose your job, which is a major plus for anyone who is struggling with debt and job insecurity.

Payoff Personal Loans: What to Watch Out For

While Payoff doesn’t charge an application fee or any hidden fees, they are clear about the fact they may charge an origination fee of up to 5% of your loan amount. This could lead to hefty fee that will be hard to dismiss, especially since you’re taking out a loan to get out of debt. Also note that their best interest rates will go to consumers with great credit, but the opposite is also true. If your credit score is on the low side or your debt-to-income ratio is high, you could wind up paying up to 24.99% APR to service your debt.

That’s why, if your credit score is fairly high, you may want to shop around with other lenders and loan platforms. Several companies that offer highly-rated personal loans, including Marcus by Goldman Sachs, SoFi, and Earnest, don’t charge an origination fee (or any other hidden fees) and may give you a better interest rate. Some of them also let you get pre-qualified ahead of time without a hard inquiry, so there’s no reason to go with the first loan you’re approved for.

A final downside of Payoff is the fact these loans aren’t available everywhere. If you live in Massachusetts, Mississippi, Nebraska, Nevada, or West Virginia, you’ll need to find another lender.

Who Payoff Personal Loans are Good for:

Consumers who have high interest credit card to pay off
Anyone who can qualify for their lowest rates and a low origination fee
Debtors who need the security of having a fixed monthly payment and fixed interest rate

How We Rate Payoff Personal Loans

Payoff Loans at a Glance
Overall Rating	Affordability (interest rates, fees, and terms)
	Availability (credit requirements, geographic reach)
	Ease of Use
	Transparency

How to Apply for a Personal Loan with Payoff

Applying for a personal loan through Payoff is easy thanks to their digital loan application and onboarding process. Plan on taking these steps as you prepare to apply for a loan:

Provide basic personal information like your name, address, and income in order to get pre-approved for a loan without a hard inquiry on your credit report.
Choose your loan terms and decide how much you want to borrow. Make sure to check your monthly payment and interest rate to make sure you can live with the terms.
Include additional information on your loan application such as your Social Security number and employment information. Double check all your loan details before you submit your application for final approval.
If your loan is approved with the terms and conditions you’ve agreed on, you’ll receive the money required to pay off your credit cards in your bank account within a matter of days.

The Bottom Line

If you have high-interest credit card debt and can’t seem to break free, a personal loan with a low fixed interest rate and better terms may be the solution to your problems. The fact Payoff lets you compare multiple loan offers from different lenders also means you can use it to shop around and compare before you pull the trigger.

No matter which lender you go with, taking the time to compare offers, fees, and terms is crucial. With enough research and planning, you should end up with the right personal loan for your needs and your budget.

Related Articles:

The post Payoff Personal Loans Review appeared first on The Simple Dollar.

Source The Simple Dollar https://ift.tt/2CojcBz