Copyright 2014

4 Easy Ways to Establish and Build Credit

Written by Super User

Drastic measures need not be taken, though building credit is not a set-it-and-forget it process. (Getty Images)



This week's best financial advice

Written by Super User

Here are three of the weeks top pieces of financial advice, gathered from around the web:

Building credit without a card
Millennials, its time to get serious about building your credit history, said Suzanne Woolley at Bloomberg. Just 33 percent of adults between ages 18 and 29 report having a credit card, even though a good credit score is essential when you apply for an apartment, a mortgage, an auto loan, or even to get a good deal on a cellphone. Getting on someone elses card as an authorized user is one way to start building credit, allowing a young person to piggyback off a parents credit. Starter credit cards with low limits are another option, provided theyre paid off every month to avoid their punishing interest rates. Secured cards, for which you put down a cash deposit as collateral, also build credit history, as long as you promptly pay the balance in full over at least six months.

The cost of a teenage driver
Parents looking forward to having their newly licensed teenagers drive themselves on errands this summer may be less enthusiastic when they see the familys new insurance bill, said Ann Carrns at The New York Times. Adding a teenage driver to an auto insurance policy increases the average premium by 79 percent, according to the latest analysis from InsuranceQuotes.com. Thats because inexperienced teen drivers have the highest crash rate of any group in the US However, buying a separate auto insurance policy for your teen is likely to be even more expensive, because auto premiums also factor in the parents driving history and credit scores. To lower your familys premium, be sure to ask about good student discounts, which can be as much as 25 percent for young adults who maintain at least a B grade average.

Purchasing a solar-powered home
Buying a house thats already equipped with solar panels can help you avoid the initial legwork of installation, while still enjoying the benefit of lower energy bills, said Susan Johnston Taylor at US News. But not all solar systems are created equal. Homebuyers need to do their homework. First, find out if the panels are leased or owned. Ideally its the latter, because leases are an ongoing liability that could affect the terms of your mortgage. Next, research the companies that manufactured and installed the system, and learn their warranty terms. You should also ask to see the current owners electric bills. Finally, hire an independent professional to inspect the system, before committing to a purchase.



EarlySalary.com Appoints Vimal Saboo as Chief Business Officer

Written by Super User

EarlySalary.com, Indias first Mobile App that gives instant cash, today announced the appointment of Vimal Saboo as the company#39;s Chief Business Officer (CBO). This is a strategic hire as part of the companys growth plans post the launch in February this year.

Vimal Saboo is a Chartered Accountant and comes with an experience of 18 years in banking amp; credit domain. At EarlySalary.com, he will focus in building Credit Risk Profiling System and spearhead Credit Risk, Underwriting amp; Operations. EarlySalary today boasts of 10 minutes underwriting and is planning to build Real-Time Credit Approval Engines and Loan Approval Systems. Vimals exposure to such business in the past will be a big boost to the business.

Commenting on the appointment, Akshay Mehrotra, Co-Founder amp; CEO at EarlySalary.com said, We are thrilled to have Vimal Saboo join the leadership team and look forward to his strategic contribution to our continued transformation of becoming a leading FinTech player in India. He brings with him a legacy of outstanding experience in the finance business that will be instrumental in the growth of our business.

Vimal Saboo, Chief Business Officer, EarlySalary.com said, FinTech is on the edge of disrupting the Banking Ecosystem, I am very glad to be part of EarlySalary and believe that Technology will disrupt the way lending business is done in India with the help of usage of various analytical technology eg Artificial Intelligence, neural network, etc. In India, these technologies are at a nascent stage but use of such technologies is increasing rampantly. One such distinguished example has been set by EarlySalary.com, by solving the cumbersome process of getting loans from banks. I am excited to join the team and look forward to working with them to help realize the companys mission of becoming a leading FinTech company in India.

Prior to joining EarlySalary.com, Vimal was associated with Edelweiss group as the Senior Vice President, Axis Bank as the Vice President amp; Head-Analytics, ICICI Bank as the Chief Manager, and Lamp;T-John Deere Ltd. With Axis Bank, he was liable for entire credit decisioning, formulating policies relating to credit card sourcing, authorization center and analytics function for the cards team. While at ICICI Bank, he was exposed to all functions of credit card operations.

About EarlySalary.com

Headquartered in Pune, EarlySalary.com is a Fintech Start-Up that uses new age technology for lending funds. The company aims to deliver a revolutionary new business model which is set to change the lending market in India. EarlySalary.com is an innovative lending platform that will change the way loans in India are taken.

Being a new age online brand, we bring together new credit scoring systems for superior customer profiling; our mobile first strategy will help customers get loans within minutes. The online platform is backed by a strong leadership team that aims to build a new credit scoring platform that combines traditional credit scoring with new social and online scoring technology-linked risk assessment concepts.

EarlySalary.com is the first financial product from Social Worth Technologies, which was founded in October 2015 and operates in Pune with a team of 30 young professionals who are working towards a solution to cater to your daily financial needs.

For more information please visit www.earlysalary.com
Like us on Facebook: fb.com/EarlySalary
Follow us on Twitter: twitter.com/early_salary

Photo Caption:Vimal Saboo, Chief Business Officer at EarlySalary.com



How To Rebuild Credit After Living Abroad

Written by Super User

Many Americans live outside the United States for an extended time. Some are in the military or have spouses in the military stationed abroad, while others may work for international businesses, requiring them to live in other countries. Either way, when leaving the US, many change their banking and credit cards over to their new country of residence, especially if they do not plan to move back for some time.

When returning to the US, however, these consumers may be surprised to see that the credit history and credit score they cultivated while living in the country has now gone. Lenders will see a large blank space on the consumers credit history, and without any sort of information, they do not know what kind of borrower they are evaluating. In many ways, it is as if these consumers are young adults again, building their credit from the ground up.

The first step is for consumers to check their credit report to see if they have any accounts still active, and to make certain their identity has not been stolen. The next step is to apply for a secured credit card. While it will need a security deposit, this will help consumers build up their credit score and history.

Read some other MoneyTips articles to learn more about how to increase your credit score. If you would like to monitor your credit to prevent identity theft and see your credit reports and scores, check out our credit monitoring service.



Topeka City Council looking to double pay for council, mayor

Written by Super User
File - Exterior view of the Topeka Performing Arts Center building. (Credit: Google Maps)