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A HELOC is a loan secured by your home. There are many instances where a HELOC makes sense over other types of loans. Here's when and why you might consider a HELOC. A HELOC is quite possibly the most flexible and valuable type of loan that you can get. Since it's secured by your home, it's only available to homeowners. What is a HELOC, and when should you consider getting one? Let's take a closer look. What is a HELOC and how does it work? "HELOC" is a common abbreviation for home equity line of credit. It is essentially a credit card that is secured by your home (many even provide you with a debit card to access the equity). For that reason, HELOC's typically carry much lower interest rates than credit cards and many lenders also offer them with little or no upfront costs. A big advantage that they have over traditional credit cards is the size of the credit line. While the largest credit card limits may be $10,000 or $15,000, it's not ...

You don't need to carry around every credit card you own, especially if you've got a lot. You only really need the cards that are earning you the most rewards. Here's the cards that are worth carrying (and using) the most often. Some people carry around a single credit card to use everywhere, while others cram a whole stack into their wallets for every possible need. How many credit cards should you actually be carrying? If you want to use your credit cards to earn rewards, then you'll definitely need a few. The different types of rewards credit cards When you're trying to earn the most rewards, there are three kinds of credit cards you need. The first kind is used just for spending where you receive some kind of bonus rewards. For example, the Chase Sapphire Preferred offers 2x points on all dining and travel, so if you eat out often, or have a lot of travel expenses, you'll want to use your Sapphire card only for those purchases. You can tailor y...

Pre-qualifying for a personal loan is the first step to getting the best rates without potentially hurting your credit score. We discuss how it works. A personal loan can be a great way to consolidate credit card debt or finance large purchases with a predicable monthly payment. But with interest rates ranging from single digits all the way up to 30 percent or more, you don't want to tarnish your credit score applying for multiple loans only to discover you're not qualified for an affordable rate. Fortunately, more personal loan lenders are making it easy to pre-qualify for a personal loan without affecting your credit score. When you pre-qualify for a personal loan, a lender can show you your best interest rate and monthly payment without needing to do a hard inquiry on your credit report. (The concern, of course, is that too many hard credit pulls will cause your score to drop, making it harder to get approved for credit in the future.) With an actual interest rate ...

Chevrolet offers a variety of durable, yet sleek, models for under $50k. Whether you're looking for an off-road truck or a sports car, Chevy's got something for you. Many automotive emblems, such as Mercedes' tri-pointed star and Alfa Romeo's crowned snake, hide rich histories and deeper meanings, symbolizing the founders' philosophies and aspirations. Chevy's doesn't. While on vacation in 1912, Chevrolet co-founder Billy Durant was browsing a newspaper when he came across an ad for Coalette's brand coal. Admiring their logo, he told his wife "I think this would be a very emblem for the Chevrolet." Days later, Chevrolet had their logo, which has endured for over a century. Thankfully, the products are more innovative and original than the badge on their grill. To prove it, Chevy invited us out to Atlanta Motorsports Park to try out six of their newest models. Which ones made us swoon? Which ones made us shrug? More importantly, which...

Many times, a zero-interest balance transfer is financial lifeline that can help you escape a modest credit card debt. But for some, transferring a balance may actually make your debt situation worse. Here's how to know if you should apply for a credit card balance transfer or not. If you're dealing with a high-APR credit card balance that's costing you $50, $75, or even more than $100 a month in interest, a zero-interest balance transfer could eliminate these finance charges for a year or longer -- saving you money and allowing to repay the debt faster. Is a balance transfer right for you? If you're in a good financial place (for example, you have a stable job, a good credit score and your credit card balances are modest, not maxed out), transferring a high-APR balance so you can save money and pay if off faster is smart. If, however, most of your credit cards are maxed out or your credit score has suffered from making late payments, you'll be better off ...

Ready to finally pay off your student loan debt, but your high interest rate is holding you back? Check out these three banks that will refinance your student loans and get you a repayment plan that works for you. So you've finally sat down and looked at your student loan statement. Scary, huh? As interest rates remain unflattering, many graduates are considering refinancing their student loans to get rid of the debt once and for all. But where do you start? There are all kinds of companies these days just throwing their advertisements in your face. How do you know who to choose? In this article, I'll show you our three favorite banks where you can refinance your student loans. These are banks that have actual, physical locations. If that's not your cup of tea, I've also included a massive list of other lenders we recommend. Quick picks: The best banks to refinance student loans 1. Citizens Bank 2. Darien Rowayton Bank 3. First Republic Bank ...

New apps for iPhone and Android help homeowners keep track of home improvement to-do lists, mortgage payments, even your kitchen's inventory. If you're new to owning a house, townhome or condo, right now's a great time to think about home improvement. Harvard University's Joint Center for Housing Studies forecasts double-digit gains i home improvement spending for 2014, according to its Leading Indicator of Remodeling Activity. Third quarter spending in 2014 on home improvement was estimated to hit $158.9 billion -- a jump of more than 14 percent from the same time in 2013. And if you're not yet there, you'll likely arrive soon. Harvard statistics show that in 2013, while half of 20-24 year olds lived at home, that number dropped sharply to about 9 percent once young adults hit 30. So if you're thinking over the jump from renter) or living at home with the rents) to homeowner, it pays to remember that, yes, decking out the new space ranks as one of life...

Personal loans can provide quick and relatively painless financing for small home improvement projects when a home equity line isn't practical or even available. You're a newish homeowner, and you need money. Maybe a pipe burst in your bathroom, and it's going to cost a few thousand to fix, and you can't just do without a shower for a year while you squirrel away the money to get it working again. Or maybe you'd like to get rid of the ratty futon that's followed you from dorm room to apartment to starter house. In an ideal world, you'd have savings or an emergency fund big enough to cover these expenses, but this isn't an ideal world. Yes, you could charge the cost of your new couch to a credit card, but you'll pay a ridiculous APR and risk falling into a cycle of making a minimum payments while your balance goes nowhere. And if you need to make repairs or renovations, you might find your contractor is old school and cash-only. You have a c...