Weekly Finance Tips

Archive for the ‘Credit’ Category

Do not have more than one credit card.

* When you leave your friends, I did not offer to pay the bills. That means not letting the incident platay providing you pay with TC What’s going on here, if you do not have experience? It spent the money received is invested in the other things and the worst is that debt is. That happened to me many times!

* Do not make “financial gymnastics.” That is, do not jump from one card to pay again! If not well controlled with maturity date and the cut will be paying high interest rates.

* If possible, do not cash from an ATM. Among other things, matching the current commission charged by banks for using ATMs or ATMs, is quite high! To consider the crisis with mortgage problems in the U.S., some banking institutions increased costs for services through the ATM. When someone makes an advance from the bank where the account was made before the commission fee, but now there is a minimum cost. If the progress made in different agencies, commissions are usually much higher.

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When banks stopped providing credit to businesses, a credit auxiliary organizations that stood out was precisely the financial factoring, after bottoming capitalized and managed to go into rebuilding, the hundred companies were only 20, which were well positioned, maintained healthy controls and practices in the purchase of debt.

According to the Ministry of Finance have now registered 33 factoring companies, of which nine have been revoked, three are operated by the NBSC, three have been merged financial groups and the rest are in operation. Read the rest of this entry »

The banking sector is composed of multiple banks (commercial), development banks (building), the limited scope financial companies (Sofoles), public trusts that provide financing for the general public, the People’s Savings Bank and Financial Services (Bansefi) that promotes savings among citizens and businesses and finally, the Credit Information Companies (credit bureaus) that provide information to providers of financing on credit applicants.

To explore financing alternatives that companies have in Mexico, we analyze each of these groups separately, showing the overall operation.

Multiple Banking or Commercial Banking

The core functions of banking have not changed over time. Among the vital operations of any bank is found, the role of fund raising and the role of loans or equity investment, an undertaking of this kind which does not carry out these functions can not call the bank in the true sense of the word. The loan can be considered as the essence and life of banking institutions. All modern bank looking to grow loans based on sensible and sound policy and studied. Read the rest of this entry »

Most companies that need to finance investment projects have the best partner to banks, which provide loans through the realization of investment projects. However, these models provide us with financing that banks are not sufficient to carry out our plans. To this we add the strict conditions that require collateral when granting a business loan, then we conclude that it is time to seek other funding sources. Today many companies have no access to bank credit.

The competitive pressure that exists in the financial sector is increasingly vocal and legal rules that drive the policy banks are increasingly stringent, these issues affect the relationship between the bank and its customer (company). After the international financial crisis, banks are more cautious, and with permanent future implementation of Basel II, Read the rest of this entry »

When the water reached his neck any solution seems good, but we must be careful before signing papers. There is no perfect remedy and immediate financial problems, so you have to be extremely careful with the dazzling fast loans.

First you have to put into question the very name of these products offered, in most cases by intermediary companies. Its aggressive advertising announces loans in 24 or 48 hours, but not true.

Assumptions fast loans take a minimum of one week to be managed and awarded only 24 or 48 hours after the application is accepted. Previously, the intermediary institution studies the client’s case and the only difference from the bank loan is the risk taken and the highest interest rate.

So time should not be the factor that decides to hire a loan fast. It our case study and evaluate other options such as deferred payments with a credit card, restructure the mortgage or borrow money from relatives. Read the rest of this entry »

In financial institutions are dedicated not only to save customers money in savings accounts or checking accounts. There are other services that you can enjoy the membership of these institutions.

Money Market Accounts

Money market accounts are transactions offered by banks and other financial institutions, but no credit unions or savings banks. As current accounts typically provide the ability to write checks, but the user may be limited, in most institutions, three monthly checks.

Money market accounts pay higher interest rates than current accounts and enjoy the security provided by the central bank and the FDIC. Read the rest of this entry »