This powerful; yet simple to use, calculator helps consumers track expenses and functions like a checkbook register. Users type in their expenses (as well as income) and assign it to a category such as "Credit Card Payment". The software calculates how much money is spent for each specific expense category. An estimated credit grade is also calculated based upon expenses and the assigned categories, as well as debt-to-income ratio. Another feature of the software are the credit improvement tips. The software examines expenses and provides tips accordingly. There's also a section for inputting bill payment reminders.
Credit Card Interest
Debt Calculator - See how long it will take to payoff your balance based
upon the amount you can afford to pay per month.
You can also use this function to determine the amount a person should pay
you back for placing a charge on your card.
Credit
Card Payment Calculator - Estimate the amount of money you'll need to pay
every month in order to payoff your balance within a certain time limit,
such as 6 months, 8 months, 1 year, 5 years, etc.
Auto Loan
Calculator - This also calculates total interest as well as monthly payments
for a New or Used auto loan, and for refinancing.
You can also use this calculator to determine how much money (with interest)
a person should pay you monthly to repay a personal loan you lent to
him/her.
New Mortgage Loan Calculator - This calculates monthly mortgage payments as well as total interest charges.
Mortgage Refinancing Calculator - This calculates the new monthly mortgage payment based upon the refinance interest rate. It is very useful for people considering a mortgage refinance to not only determine the new monthly payment, but also to see if they will save more money.
This calculator can also estimate new mortgage payments after an equity
loan.
Monthly Expense Calculator
- Adds up your total monthly bills and income, and tells you how much 'free
money' you have left over.
Savings Interest Calculator
- See how much interest money you can earn over time.
3)
Windows Type Calculator: This calculator
performs regular math functions like the Microsoft Windows calculator, yet it
also has an equation function. Perform math functions such as add, multiply,
subtract and divide, as well as bracketed equations.
About Credit Federal's Calculators: These free financial calculators were developed by CreditFederal.com to assist U.S. credit consumers, and do not require registration. They are void of AdWare and
SpyWare, and do not require entering any sensitive information such as bank account or credit card numbers. All calculators function on Windows computers and can be saved/launched directly from the Desktop by double-clicking on the icons. Via the CreditFederal.com website, consumers can obtain more information; as well as
usage instructions on how to use the calculators.
4:
Windows Type Calculator: Simple calculator, no instructions necessary. Simply click to download to your Windows computer.
Personal
Credit
Personal credit scores are based on
standards of the major credit rating bureaus: Experian, Equifax, and TransUnion. Lenders average the fixed score from each of these to determine a borrower’s eligibility and terms of financing.
The rating system looks at several factors and gives a points rating to each one.
Positive and negative factors can affect the score.
Factors
that can affect credit scores:
* Payment
history accounts for about 35% and the way debts are paid, for example if they
are paid in a timely manner or paid late. It reflects the number of past due items
and how long they were
delinquent, or if there was any collection activity. Another factor is any public records
like bankruptcies, liens, and wage garnishments.
* Current
total debts accounts for around 30% and considers the total amount of debts owed.
This is the number of accounts and each balance owed and it influences FICO
scores. Credit bureaus will
look at outstanding debts in relation to the available credit. Getting
out of debt by paying down debts can help raise scores over time.
*
The length of credit history is a factor concerning the amount of time accounts have been
open and the account activity.
* New
credit is any recent accounts established. This also includes any credit inquiries
indicating attempts to get new lines of credit.
* Types of
credit considered is the total number of the types of credit that has been
secured. This includes revolving debt on credit cards and retail accounts.
Some
lenders may not view past performance as a guarantee of future performance. This
is not always true as a credit rating is an indicator of past borrowing and repayment
performance.
This
can give lenders an idea of how likely it will be for a borrower to repay a new loan in full,
on time. They use a consumer's credit rating to determine their risk in loaning money.
A
person who has a good credit rating may not have to pay high interest fees or
may not have to give a large down payment. Personal credit scores are used to determine whether to loan
money to small businesses and corporations. Factors like age, race, ethnic background, religion, sex, and marital status, do not influence
scores. Employment history, current employment, wages, and assets are not taken into consideration as part of
FICO scores, yet some lenders may look at these areas when evaluating a person's
credit worthiness.
Qualified borrowers have a FICO rating of 750 or
better, yet people with a score of 650 may be able to get a loan that has higher
interest rates. These scores can change monthly to reflect any changes to the criteria used to determine the score.
If a loan is paid off it could improve scores. If a bill is not paid or bankruptcy
is filed, it could lower scores. Monitoring scores can help identify any problems
that may need correcting. AnnualCreditReport.com is the site to visit to request a free credit report,
and get credit information almost immediately, but it can take longer when not
using the Internet. Credit services can help monitor FICO scores but it usually
requires a monthly fee.
Personal Finance Help:
Free, short term immediate help and long term planning tips to improve personal
finances. Learn how an annuity and insurance can help.
Tired of searching and applying blindly for credit? Let free credit offers come to you by joining our newsletter. There's no obligation to accept any offer.
Browse for more personal
finance resources.
Auto Loan: Get free quotes and apply for a new or used auto loan or for auto refinancing.
Credit Card: Search for secured and unsecured credit card applications and apply online. Applications for all types of cards ranging from an instant approval bad credit card to no deposit cards, including platinum credit card rewards.
Credit Report: Free credit report help to fix credit report errors and improve credit score ratings. You are entitled to one free credit report annually.
Debt Counseling: Get your expenses under control with credit counseling, an unsecured debt consolidation loan, debt management or negotiate debt settlement.
Free Credit Offers: Get no obligation, free credit offers plus financial tips to help effectively manage your personal finances.
Home Loan: Free multiple quotes from mortgage lenders. Apply for a new home loan and start building your financial security.
Mortgage Refinancing: 2nd mortgage loan and other types of mortgage refinancing for home remodeling, equity cash out or a debt consolidation loan and more.
Payday Loan: Easy approval bad credit unsecured loan with no credit check, no deposit and no security.
Personal Loan: Submit a short or long term personal loan application (if available), or apply for other secured or unsecured loan offers.
Tip of the Day: To curb credit card charges, wrap your credit card in a sheet of paper and keep a log of purchases written on the paper, with a grand total of charges in view each time you reach for your card. Before swiping your card, figure out how many hours you'll have to work in order to payoff the charge and jot on the paper: "IOU #Hours of Work". Perhaps seeing how long you'll need to work to payoff the charge will help curb spending.
