Understanding Life Insurance: A Comprehensive Guide to Protecting Your Loved Ones

Life insurance is a crucial financial tool that provides peace of mind and security for you and your loved ones. Whether you're a young adult just starting a family, a middle-aged professional planning for the future, or a retiree looking to leave a legacy, life insurance can play a significant role in your overall financial plan. This article will explore what life insurance is, why it's important, the different types of life insurance, and how to choose the right policy for your needs.

Life insurance is a contract between an individual (the policyholder) and an insurance company. In exchange for regular premium payments, the insurance company agrees to pay a lump sum, known as a death benefit, to the beneficiaries named in the policy upon the policyholder's death. This death benefit can be used to cover various expenses, such as funeral costs, outstanding debts, mortgage payments, and living expenses for surviving family members.

Life insurance serves several critical purposes:

Financial Protection for Loved Ones: The primary purpose of life insurance is to provide financial support to your dependents after your death. This can be particularly important if you are the primary breadwinner in your family or have significant financial obligations, such as a mortgage or college tuition for your children.

Debt Coverage: Life insurance can help ensure that your debts, such as a mortgage, car loans, or credit card balances, do not become a burden on your family. The death benefit can be used to pay off these debts, allowing your loved ones to maintain their financial stability.

Estate Planning: Life insurance can be an effective tool in estate planning. It can provide liquidity to cover estate taxes or help equalize inheritances among heirs, particularly if you have significant assets that are not easily divisible.

Peace of Mind: Knowing that your loved ones will be financially secure if something happens to you can provide peace of mind. Life insurance helps ensure that your family's standard of living is maintained even in your absence.

There are several types of life insurance, each with its own features and benefits. Understanding the differences can help you choose the right policy for your needs.

Overview: Term life insurance provides coverage for a specified period, typically 10, 20, or 30 years. If the policyholder dies within the term, the beneficiaries receive the death benefit. If the policyholder outlives the term, the coverage ends, and there is no payout.Advantages: Term life insurance is generally more affordable than permanent life insurance, making it a popular choice for young families or individuals with temporary financial obligations.Disadvantages: The policy expires at the end of the term, and there is no cash value or return on premiums paid.

Overview: Whole life insurance provides coverage for the policyholder's entire life, as long as premiums are paid. In addition to the death benefit, whole life insurance policies accumulate cash value over time, which can be borrowed against or withdrawn.Advantages: Whole life insurance offers lifelong coverage and a guaranteed death benefit. The cash value component can serve as a savings vehicle or provide financial flexibility.Disadvantages: Whole life insurance is typically more expensive than term life insurance, and the returns on the cash value may be lower than other investment options.

Overview: Universal life insurance is a type of permanent life insurance that offers more flexibility than whole life insurance. Policyholders can adjust their premium payments and death benefits, and the policy also includes a cash value component that earns interest.Advantages: Universal life insurance provides flexibility in premium payments and the potential for higher cash value growth. It also offers lifelong coverage.Disadvantages: The cash value growth is not guaranteed and can be affected by market conditions. Additionally, adjusting premiums and death benefits can be complex and may result in unintended consequences if not managed carefully.

Overview: Variable life insurance is another form of permanent life insurance that allows policyholders to invest the cash value component in various investment options, such as stocks, bonds, or mutual funds. The policy's cash value and death benefit can fluctuate based on the performance of these investments.Advantages: Variable life insurance offers the potential for higher returns on the cash value, which can increase the death benefit over time.Disadvantages: The policyholder assumes the investment risk, and poor investment performance can reduce the cash value and death benefit. Variable life insurance is also more complex and may involve higher fees.

When selecting a life insurance policy, it's essential to consider your financial goals, budget, and the needs of your beneficiaries. Here are some key factors to consider:

Coverage Amount: Determine how much coverage you need by considering your financial obligations, such as mortgage payments, debts, and future expenses like college tuition. A financial advisor can help you calculate an appropriate coverage amount.

Policy Type: Choose a policy type that aligns with your needs. If you need coverage for a specific period, term life insurance may be the best option. If you want lifelong coverage and the potential to build cash value, consider a permanent policy like whole or universal life insurance.

Premiums: Ensure that the premiums fit within your budget. Remember that permanent life insurance policies generally have higher premiums than term policies.

Company Reputation: Select a reputable insurance company with a strong financial rating. This ensures that the company can fulfill its obligations to pay the death benefit when needed.

Riders and Additional Features: Consider any riders or additional features that may be important to you, such as waiver of premium, accelerated death benefits, or guaranteed insurability.

Life insurance is a vital component of a sound financial plan, offering protection and peace of mind for you and your loved ones. Whether you choose term or permanent life insurance, the key is to select a policy that meets your needs and provides the security your family deserves. By understanding your options and working with a trusted advisor, you can make an informed decision that ensures your family's financial future is secure.

Canadians: How To Get a Credit Card With Poor Credit

Folks with poor credit who've had trouble getting approved don’t have to worry anymore! It’s super easy to find the perfect card for imperfect credit. The perfect credit cards for Canadians with bad credit scores are right here.

Who said credit cards are just for people with good credit? If you've been told that your credit is bad or you have no credit history, don't despair. Many people believe having bad credit stops them from getting a credit card or taking advantage of high credit limits. The good news is that this simply isn't true! While some banks have a policy of turning away customers with bad credit histories, there are plenty of others who approve credit cards to those actively trying to improve their credit score. In fact, many banks are currently offering competitive credit cards with instant approval and high credit lines for people with bad credit! 

Keep reading to learn more about the best credit cards for people with bad credit in Canada. 

The Capital One Secured Mastercard is a secured credit card that can help you quickly and consistently build your credit score with responsible use. If you're looking to build your credit on a budget, you'll appreciate Capital One's no-fees application process. In fact, when applying for a Capital One Secured Mastercard, the only up-front cost you have to cover is your initial deposit. 

To get your hands on this competitive credit card, all you have to do is select the credit line that's best for your needs and make a deposit of $50 to $200. Capital One customers also receive complimentary access to CreditWise through their Capital One card so that you can keep track of your improving credit score. Simply make your minimum payment on time each month, and watch your credit score increase! Once you improve your credit score to "Good," your credit limit will increase up to $10,000!

If you have a low credit score or a short credit history, the Indigo Platinum Mastercard could be the perfect option for you. Because the Indigo Platinum Mastercard is an unsecured credit card, it does not require an initial deposit to start using; however, you are required to pay an annual fee of up to $100. In addition, when applying for this credit card, you can see if you prequalify without committing to a hard credit inquiry on your credit report. The Indigo Platinum Mastercard has an initial limit of $300; however, as you make timely payments and improve your credit history, your credit limit will increase. 

Credit One Bank Platinum Visa for Rebuilding Credit

The Credit One Bank Platinum Visa is another unsecured credit card that does not require an initial deposit. Plus, if you make your regular monthly payments on time, you can earn 1% cash back! 

However, the Credit One Bank Platinum Visa does have an annual fee of up to $99. The exact amount of the annual fee varies depending on your credit score. Similarly, your APR will also vary based on your creditworthiness. Your APR is more likely to be above 20% for people with low credit scores. To avoid any unnecessary hard inquiries on your credit report, you can check if you prequalify for this card before applying. 

If you need to improve your credit quickly, you're in luck! All of the credit cards mentioned above submit monthly reports to the major credit bureaus. By using your card responsibly and staying on top of your monthly payments, you can improve your credit score fast.

Of course, when applying for credit, it's important to be conscientious. Applying for many different credit cards in a short time span can lower your credit score and make you look unreliable to lenders. Every time you apply for a line of credit, the lender performs a detailed credit check before approving your application, which can impact your credit score. To avoid damaging your credit, you should take the time to research your options and determine which credit card best meets your needs before applying. 

Finding the right credit card if you have bad credit can be challenging. But there is a way. Prequalification is one way to go about finding the right card. By prequalifying, you get a better idea of what credit cards you will be approved for. This can help you in your search for a new credit card. Instead of blindly applying for cards and getting denied, prequalify with several lenders, and then you can pick and choose who you want to apply with.

Find the Best Credit Cards For Poor Credit

If you're struggling because of previous bad credit choices, or lack of credit, find credit cards for people with bad credit online, and start rebuilding your credit score today!

Canadian With Poor Credit Can Build It Up With These 3 Cards

Any Canadians with poor credit: listen up! It's possible to find a credit card for people with poor credit and rebuild your credit fast!

Failing to pay your bills on time, having too much debt, or declaring bankruptcy can ruin your credit score. A poor credit score can make many areas of your life difficult, such as buying a car or getting on the property ladder. Fortunately, there is a solution for people with bad credit who are looking to rebuild — a credit improvement credit card! If you're trying to increase your score, keep reading to learn how you can improve your credit fast with a credit card designed for people with low credit.

What Credit Cards are Available for People with Poor Credit?

Credit cards are not just reserved for people with stellar credit scores. In fact, there are credit cards available designed specially for people with bad credit. Having a credit card and making your payments on time, every time, is the best way to build your credit fast. There are two types of credit cards available for people with bad credit: 

A secured credit card works like a standard credit card; however, you must make a cash deposit before you use it. This cash deposit helps to "secure" your card and ensures the lender gets its money back if you fail to pay your credit card bill. 

An unsecured credit card is a standard credit card. If you have bad credit, you might find that an unsecured credit card offers higher interest rates and a lower credit line. Unlike a secured credit card, an unsecured credit card requires no security deposit.

Keep reading for a list of the best cards available for people with bad credit. 

Refresh Financial Secured Card is a credit card designed to help you build your credit quickly and safely. One significant advantage of this credit card is that no hard credit check is required! This means that applying won't impact your credit. Even those with poor credit scores and recent bankruptcies can apply for the Refresh Financial Secured Card. As long as you can cover the $200 minimum deposit and $49 annual fee, you're good to go. The interest rate is a very reasonable 18%, plus there is no interest for 21 days on all purchases! 

The Home Trust Secured Visa card is an award-winning credit building card that boasts an impressive acceptance rate. In fact, almost everyone that applies and puts down the required deposit is accepted — even if you have poor credit! In addition, because Home Trust reports all usage and payment history to the major credit reporting agencies, you can build your credit quickly and safely. 

To get started with the Home Trust Secured Visa, you'll need to make a minimum deposit of $500. The standard interest rate is 20%, but customers enjoy 21 days interest-free on all new purchases, plus there's no annual fee! 

Capital One Low Rate Guaranteed Mastercard

The Capital One Low Rate Guaranteed Mastercard can help you rebuild your credit without paying sky-high rates. As this credit card is "unsecured," you do not have to make a security deposit. But don't worry about overspending, as your credit limit starts low and increases as your credit history improves! 

The interest rate is a very reasonable 15%, and customers who like to travel will love that this card includes essential travel insurance coverage! All you have to do to qualify is meet the minimum credit score and income requirements and pay the $79 annual fee. 

RBC Visa Classic Low Rate Option Visa Card

The RBC Visa Classic Low Rate Option Visa Card offers a low, fixed annual interest rate of 12.99% on purchases and cash advances, including balance transfers! You don't have to meet a minimum credit score requirement to apply for the RBC Visa Classic Low Rate Option Visa Card, as RBC makes decisions based on your income and current outstanding debts. Plus, there is no security deposit required!

Ultra-convenient and easy-to-use, this unsecured credit card is accepted anywhere you find the Visa logo! Plus, eligible customers can get cash advances of up to $1,000 CAD per day, depending on their available credit. You also get peace of mind with RBC's "Zero Liability Protection," which protects your credit card from unauthorized use in person and online!

Are you trying to rebuild your credit? Search online for a credit card specifically designed for people with low credit, and start repairing your credit today!

Which Savings Accounts Offer The Best Rates and Sign-Up Bonuses?

Want to earn while you save? Welcome to the bank bonus era. Banks are currently offering cash bonuses to new customers. Search online for the biggest sign-up bonuses banks are offering in 2022. 

Did you know banks are offering cash bonuses to new customers? That's right! There's big competition between banks and financial institutions! If you're looking for a new savings account that helps you earn while you save, we've got you covered! Here are the best sign-up bonuses banks are offering for new customers. 

Looking for a convenient online savings account that offers a generous sign-up bonus? Check out SoFi Savings account! New customers (or existing customers who haven't made any direct deposits!) can earn a $50, $100, or $300 bonus if they make a minimum direct deposit within 30 days!

To earn the $50 bonus, all you have to do is make a direct deposit of $1,000 to $1,999. For the $100 bonus, simply make a direct deposit of $2,000 to $4,999, and to make the $300 bonus, deposit $5,000 or more. If you're eligible for the bonus, you can expect to see the extra cash in your account within two weeks of meeting the requirements.

BMO Harris is rewarding new customers who open up a Savings Builder account with a $60 cash bonus! To get your extra cash, simply open a new Savings Builder account and deposit a minimum of $200 each month for the first 12 months and earn up to $5 each month. Unfortunately, you are not eligible for this bonus if you're an existing account holder. 

Get a $200 Bonus with Discover Online Savings. 

Discover online savings is offering new customers who open their first Online Savings Account a sign-up bonus of $200 or $150! To qualify for the bonus cash, simply open an online savings account with Discover and use the code NW222 when applying. 

In addition to using the discount code, you must also deposit at least $15,000 within 30 days to earn the $150 bonus, or a minimum of $25,000 to earn the $200 bonus. Please note that if you already have an existing Discover savings account or previously had one, you are not eligible for this bonus.

Get a $100 Bonus with Alliant The Ultimate Opportunity Savings.

Alliant is currently offering new customers a generous $100 bonus when they open a new The Ultimate Opportunity Savings account online. To receive your extra cash, you must apply for your account via the promotional page. 

In addition, you must deposit $100 within the first 30 days of opening and make a minimum deposit of $100 each month for the next 11 consecutive months. You must also keep your average daily balance at a minimum of $100. If you meet all eligibility requirements, you can expect to receive your bonus at the end of the 12 months (as long as you keep your account open with a minimum balance of $1,200). It's important to note that if you have closed an Alliant savings account within the previous 180 days or are an existing customer, your account is not eligible.

Earn while you save with TD Bank! TD Bank customers who open a new TD Beyond or Simple savings account can earn a $200 bonus. To be eligible, all you have to do is make a minimum deposit of $20000 and keep a balance of $20,000 or more for at least 90 days. Please note: if you had a TD personal money market account or TD savings account in the previous calendar year, you are not eligible for this bonus. 

Get a $100 Bonus with Regions Bank LifeGreen Savings Account. 

If you're a Regions checking account customer looking for a new savings account with a bonus perk, look no further. Right now, customers who make an automatic transfer of funds from their Regions Bank checking account to a LifeGreen Savings account could be eligible for a $100 bonus. 

To get your bonus, simply make a transfer for 10 of the first 12 months of account opening and receive a 1% savings bonus of up to $100! Interested customers will be happy to know that the Regions LifeGreen Savings account has minimum balance requirements and no monthly fees! 

Don't miss out on your cash bonus! Banks and financial institutions are competing for your business. Find the best savings account sign-up bonuses online today, and earn while you save! 

What Is a Certified Financial Planner, and How Can They Help With Your Finances?

Don't wait until it's too late to organize your finances. Learn about how a Certified Financial Planner can help you build wealth today!

Do you have a game plan for your finances, or are you just throwing darts and hoping for the best? People who take control of their finances are far better off in the long term than those who do not. Keep reading to learn more about what a Certified Financial Planner is and how they can help you with your finances.

What Is a Certified Financial Planner (CFP)?

A certified financial planner (CFP) is a financial advisor who has earned extra accreditation to use the title CFP. CFPs help clients to define their financial goals and needs and create a strategic plan to reach them. They can give advice and recommendations on financial concerns such as taxes, investments, college funds, and retirement accounts. Some CFPs focus on a particular specialty, such as estate planning, tax planning, insurance planning, investments, etc. 

How Do You Find A Certified Financial Planner (CFP)?

A simple search online can help match you with a certified financial planner that can help you reach your financial goals. When searching for a financial planner, it's important to look for experienced and accredited professionals. 

To become a certified financial planner, CFPs must prove themselves to be proficient across several areas. They must have an acceptable level of education and experience and pass examinations to prove their knowledge and ethics. CFPs are accredited by the Certified Financial Planner board and are subject to a background check before acceptance. Candidates for board membership must disclose any information about criminal activity, customer complaints, and employment issues.

Educational requirements for certified financial planners include:

candidates must hold a bachelor's degree from an accredited university or college. 

candidates must gain further financial advisor education, including college-level study in personal financial planning 

candidates must complete a CFP Board-registered capstone course

For candidates who already possess a higher business degree (such as a CFA or CPA), they may be able to skip some requirements needed to become eligible. 

In addition, candidates must prove to the CFP Board that they have 6,000 hours of professional experience working in the field. In some instances, 4,000 hours of experience as an apprentice may qualify; however, additional requirements must also be met.

CFP candidates must complete and prove their completion of the CFP Board coursework requirements before they can take the CFP exam. The CFP exam is a computer-based exam that lasts several days and includes over 150 multiple-choice questions. Questions include topics such as risk management, financial planning, professional conduct, communication, and much more.

The final stage of becoming a Certified financial planners is agreeing to adhere to the ethics that are set forth by the CFP Board. CFPs must agree to abide by the Certified Financial Planners Board's code of ethics and professional conduct. This includes practicing their role with integrity, competence, fairness, objectivity, and client confidentiality. 

Why Do Certified Financial Planners Require Continuing Education Requirements?

To keep their license in good standing with the Certified Financial Planners Board, CFPs must renew their certification every two years. To renew their certification, applicants must complete 30 hours of further education, including 28 hours of financial planning and two hours of board-approved ethics refresh.

Continuing education ensures that CFPs maintain and update their knowledge regularly and can therefore give the best and most relevant advice to their clients. 

Financial planning can be complex and overwhelming. Fortunately, a CFP can help you set goals, create a realistic budget and plan for the future. It's important to remember that different CFPs focus on different aspects of financial planning. For instance, if you're looking for help with building your retirement fund, you should opt for a CFP that has experience in that. 

 Once you have an idea of the type of financial help you need, you can start researching a CFP that meets your needs. It's important to review each potential candidate's experience and attitude to ensure they align with yours. In addition, it's a good idea to confirm candidates standing with the certified financial Planners Board. To do this, simply go to the CFP website and verify their accreditation. In fact, you can even find a CFP on the website too!

Don't delay; start your search for a CFP today and begin your journey to a healthy and secure financial future. 

How To Open A New Checking Account Online

Opening a checking account online has never been easier! Thanks to fast applications and user-friendly websites, opening a new bank account can take just a couple of minutes. Save yourself a trip to the bank and open a new checking account online today. 

Forget about heading out to your local branch and filling out pages of paper. With online banking, you can open up your new checking account online in just a few minutes! Not only is online banking convenient, but many online banks also offer highly competitive rates and generous sign-up bonuses! Keep reading to learn how to open a new checking account online today. 

The first step in opening a new checking account online is to find the best online checking account for your needs. Before beginning your research, some important questions to ask yourself are:

How do you intend to use your new account? 

Do you want to open an account with a bank or credit union?

Determining the answer to these questions can help you narrow down your online checking account options—and streamline the process of opening your new account. No matter what type of account you want, it's important to ensure that the ones you consider are FDIC insured. The Federal Deposit Insurance Corp makes sure that your money is protected in the event of bank failures. If you opt for an account at a credit union, your funds should be protected by the National Credit Union Administration. 

Many banks and financial institutions offer sign-up bonuses for new account customers. A simple search online can help you find the best checking account for your needs — with a sign-up bonus!

Here are just a few cash bonuses banks are offering new checking customers in 2022:

Up to $300 bonus offer with SoFi Checking - New customers who open a SoFi Checking account and make direct deposits of $5000 or more within 30 days, can earn a $300 bonus.

Up to $1500 bonus offer with Citi Checking - Open a Citi checking account and make a minimum deposit of $200,000 within 20 days and maintain that balance for 60 days to earn a $1500 bonus.

$200 bonus offer with Chase Open Checking - Open a Chase Total Checking account online through the promotional page and receive an offer coupon. To be eligible for the bonus, you must make a qualifying direct deposit within 90 days, and your account must remain open for six months.

Up to $150 bonus offer with Axos Rewards Checking - New customers who apply for an Axos Rewards Checking account online and make direct deposits of at least $1,500 within one calendar can earn a $150 bonus. To be eligible, customers must apply via the offer page and use the promo code: MAY150.

Have Your Personal Documents and Information At Hand

To open up a new bank online, you'll need certain documentation. This documentation is also required for any person who you will be adding as a joint account owner. For a quick and straightforward application, make sure you have the following to hand:

A note of your personal details such as name, date of birth, address, and preferred contact information. 

Government-issued ID such as a valid driver's license

Routing and account numbers for an existing bank account or debit card information (if your new account requires an initial deposit)

Before you apply for an online checking account, you should ensure that you have a secure home internet connection. In some instances, you may also be required to fax or email copies of your documents, such as a copy of your driver's license, to help verify your identity. In addition, if you cannot create an electronic sign, you may be required to sign and mail in a signature card for verification. 

When you open a new online checking account, you're typically required to make an initial deposit. This is especially true if your new account offers a sign-up bonus. The easiest way to make a deposit is to transfer funds from an existing account. Be sure to confirm the minimum balance of your new account before initiating any transfer. 

Online checking accounts are a convenient and hassle-free way to access your money and take care of your financial obligations. If you're thinking about opening up a new checking account, start your search online today.

Big Banks Offer Sign-Up Bonuses For New Customers. Here’s How To Take Part

Banks are offering big incentives to new customers. Why? Because they need your business! Start your search online today for the best sign-up bonuses banks are offering in 2022. 

You may already have a bank account, but are you taking advantage of all the incentives offered to you by the different banks? When you open a new bank account, you can get anything from cash bonuses and airline miles to travel awards and gift cards. And the best part? Anyone can apply! Here are the best sign-up bonuses banks are offering for new customers. 

If you’re not an existing PNC checking account customer (and haven’t closed a PNC checking account within the past 90 days), you could qualify for a sign-up bonus from $50 to $400!

You can earn the $400 bonus by opening a PNC Virtual Wallet with Performance Select account and making a minimum of $5,000 total qualifying direct deposits into your Spend account. If you have $2000 or more in qualifying total direct deposits, you could be eligible for a $200 bonus, or a $50 bonus is available for those who have $500 or more in qualifying direct deposits. 

Would you like to make up to $1500 for opening up a new bank account? Consider opening up a new checking account at Citibank. Customers who open a new checking account by July 17 and deposit funds within 20 days may be eligible for a sign-up bonus. 

To take advantage of the total available $1500 bonus, you must make a minimum deposit of $200,000 and maintain that minimum balance for at least 20 days. A minimum deposit of $15,000-$49,999 can earn you $300, and a minimum deposit of $50,000-$199,999 can earn you $700. 

Through July 20, you can earn a $200 bonus at Chase Bank by opening a new Total Checking account and making a direct deposit of $500 or more within the first 90 days. To be eligible, you must be a new Chase checking account customer and have at least ten qualifying transactions within 60 days of coupon enrollment. 

In addition, college students aged 17-24 could qualify for a $100 sign-up bonus when opening up a Chase College Checking account.

From May 1 to July 31, if you open up any personal checking account at M&T Bank you can earn a sign-up bonus of up to $250. All you have to do to take advantage of this offer is open a checking account and make a qualifying direct deposit of $500 minimum. 

Get a $300 Bonus at Huntington National Bank

If you want to earn a $300 bonus with Huntington Bank, all you have to do is open is Huntington 25 Checking account and make a minimum cumulative deposit of $25,000 within 60 days of opening your account. A $200 sign-up bonus is also available for customers who open a Huntington 5 Checking account and make a minimum cumulative deposit of $1,000 within 60 days of account opening. For customers who open up an Asterisk-Free Checking account and make a cumulative deposit of $1,000 within 60 days of opening can earn a $150 deposit. 

If you’re looking for a personal checking account, consider becoming a new Bank of America customer and earn a sign-up bonus of $100. To be eligible for this bonus, you must open an account online and make an opening deposit of $25 for the Advantage SafeBalance Banking account (or an opening deposit of $100 for any other accounts). In addition, you must also receive a total of $1000 qualifying direct deposits within 90 days of opening your account. 

Customers who open up a new BMO Harris checking account can earn a sign-up bonus of up to $350. To be eligible, all you need to do is open up a Premier Account and make a minimum of $7,500 in qualifying direct deposits within the first 90 days of account opening. Payroll, Social Security pension, and many other government payments count as a qualifying deposit. 

Many banks and financial institutions are currently offering big incentives to new customers. If you’re looking to open up a new bank account, don’t waste time! Start your search online for the best bank account sign-up bonuses today, and open your new account. 

The Perfect Credit Cards For Imperfect Credit

Having an imperfect credit score doesn’t mean you can’t secure a credit card. Start your search online today for the best credit cards for people with low credit scores. 

If you have an imperfect credit score, you’re not alone. Many people live with a less-than-stellar credit score through no fault of their own. Whether you need to improve your credit score or you’ve just started building your credit history, here are the best credit cards in 2022 for people with a low credit rating. 

The Capital One Platinum Secured Credit Card is an excellent option for people looking to build their credit score. As a secured card, the Capital One Platinum Card Most requires you to make a low deposit of $49, $99, or $200 in order to receive a credit limit of $200. 

Don’t have the deposit money upfront? No problem. Capital One allows you to make your deposit in multiple installments. In addition, you’ll automatically be considered for an increase in your credit limit with no additional deposit once your account has passed the six-month mark. 

Complimentary credit score monitoring with CreditWise

Want to earn rewards while also building your credit score? The Discover It Secured Credit Card could be the perfect solution! As one of the best credit cards available for people with low credit scores, The Discover It Secured Credit Card offers a generous 2% cash-back on all restaurants and gas spending up to a total of $1,000 per quarter, plus 1% cash-back on all other purchases. 

In addition, the Discover It Secured Credit Card has a $0 annual fee, and Discover will review your account automatically to determine a possible upgrade to an unsecured card. To become eligible, simply manage your account responsibly for seven months!

Reports to all three major credit bureaus

Security alerts if your social security number is found on the Dark web

Capital One Quicksilver Secured Cash Rewards Credit Card

If you have a FICO score of 629 or lower, the Capital One Quicksilver Secured Cash Rewards Credit Card could be the one for you! This $0-annual-fee credit card offers 1.5% cash-back on every purchase; however, it does require a $200 minimum upfront security deposit.

Fortunately, if you’re trying to build your credit score up, you’ll be happy to know that Capital One reports to all three major credit bureaus, unlike most other secured credit cards. Plus, they’ll review your credit limit for a potential increase after six months! 

Unlimited 5% cash-back on rental cars and hotels 

The Chime Credit Builder Visa Credit Card offers a convenient and easy way to manage your credit responsibly. Applicants do not require a credit check, face no annual fee, and do not have to make a minimum deposit. 

Unlike traditional secured cards that require a security deposit, the Chime Credit Builder Visa Credit Card is backed by funds in a linked account. You have the flexibility of adding funds to this account at any time, and your card will not let you spend more than you have in your account — making it easy to stay on top of your money. 

Average increase of 30 credit score points with regular, on-time payments

The OpenSky Secured Visa Credit Card is perfect for people who need to build their credit up or those who don’t have access to traditional banking services. This is because applying for the OpenSky Secured Visa Credit Card doesn’t require a credit check!

In addition, you don’t need a bank account to open up an OpenSky Secured Visa Credit Card account; however, you will need to meet income requirements.  

Potential credit line increase after six months

If you’re struggling to secure credit because of your previous credit history, don’t worry! There are many options to improve your credit score with a credit card specially created for people with low credit scores.

Securing the right card for your needs and making timely monthly payments can help you quickly and easily rebuild your credit and improve your credit score. Start your search for the perfect credit card online today.

The Best Cash Back Credit Card Offers

Want to earn cash back rewards while spending money? Here are the best cash back credit card offers on the market right now.

When it comes to credit cards, cash back credit cards offer the biggest, most flexible reward there is — cash. With a cash back credit card, you get a cash reward for every dollar you spend. Some credit cards have relationships with affiliates that gain you even more cash back on certain spending, such as travel or gas stations. 

For instance, if you spend $50 at a restaurant using a card that gives 2% cash back rewards on restaurant spending, you will earn $1.00 for eating out! Think of a cash back credit card as a way to get a discount on everything you buy! Keep reading to learn more about the best cash back credit card offers on the market right now. 

The Chase Freedom Unlimited® card offers 1.5% cash back on all purchases, plus you can get bonus rewards on travel that you book through Chase! Earn 3% cash back on dining at restaurants, 3% cash back on dining at restaurants, drugstores, and 1.5% cash back on all other purchases everywhere else!

New card members are also eligible for a generous bonus of $200 plus an additional 5% cash back at gas stations! To earn this offer, all you have to do is spend $500 on any purchases in the first three months of your account opening. 

Plus, enjoy a 0% intro APR for 15 months on all of your purchases and balance transfers. After the introductory period has ended, you can expect to pay anywhere from 15.74%–24.49%. 

The Wells Fargo Active Cash® Card has $0-annual-fees and offers an excellent rewards rate on anything you buy. Right now, new card members can earn $200 cash rewards if they spend $1,000 in the first three months. Plus, card members also receive 2% cash back on all purchases — from restaurants and gas stations to travel and online shopping!

Other perks include up to $600 of cell phone protection against damage or theft — all you have to do is pay your monthly cell phone bill with your Wells Fargo Active Cash® Card!

In addition, new card members can enjoy a 0% APR introductory rate for up to 15 months. After the introductory period is over, you can expect a variable APR of 16.49%, 21.49%, or 26.49%.

The Citi Custom Cash℠ Card differs from many other cash-back credit cards as it offers customers a generous 5% reward on their top eligible spending category for the month! Eligible categories include:

All other purchases receive 1% cash back. New customers also have the opportunity to earn $200 cash back after they spend $750 on purchases in the first three months of opening their account. 

If you want a generous cash back card that's also flexible, check out the Discover it® Cash Back card. Customers get 5% cash back on up to $1,500 of their quarterly spending in eligible categories. Some of those eligible categories include:

Plus, there is no annual fee, and customers can take advantage of "Cash back Match," which gets you an unlimited dollar-for-dollar match of all cash back you earn at the end of your first year — automatically! 

Capital One SavorOne Cash Rewards Credit Card

If you're a foodie, you'll love the Capital One SavorOne Cash Rewards Credit Card. This $0-annual-fee credit card offers customers a very generous unlimited 3% cash back on dining and purchases at grocery stores! Plus, you can also get 3% back on certain streaming services and entertainment, as well as 1% cash back on all other purchases!

In addition, new card members are eligible to earn a $200 cash bonus if they spend $500 on purchases within the first three months of opening their account! 

Blue Cash Preferred® Card from American Express

If you can get past the $95 annual fee, the Blue Cash Preferred® Card from American Express has a lot of perks to offer — including 6% cash back at grocery stores and a low introductory APR of 0% for 12 months! You also have the option of splitting up larger purchases into easy-to-manage monthly installments with the American Express "Plan It" features.

New customers could also earn a $400 bonus if they make $3,000 or more in purchases on their new Card within the first six months. If eligible, you'll receive your $400 back as a statement credit against your balance due! 

​​How To Get Assistance on Everyday Bills Like Utilities, Food, Rent, and More

If you're struggling to pay for your utilities, rent, and other expenses, you may be eligible for a government program that helps with your costs. Learn more about government assistance programs. 

To help you pay for your utilities and other expenses, the government offers many programs to the public. There are federal, state, and city assistance programs available. Keep reading to find out what assistance might be available for you. 

If you're struggling to pay your home's heating or cooling bills, there are government programs and local social services that can offer assistance.

For example, the Low Income Home Energy Assistance Program (LIHEAP) offers help to people in the form of:

Assistance in paying heating or cooling bills

Emergency services if there is a crisis, such as utility shutoffs

Weatherization of your home to make it more energy-efficient and, in turn, lower your utility bills.

Eligibility requirements for LIHEAP vary depending on your location, with each individual LIHEAP office setting its own eligibility requirements. It's also important to note that qualifying for LIHEAP does not guarantee that you'll receive help. In addition, the help you receive will be dependent on how much funding is available for the year. 

Each state has different rules in regard to applying for LIHEAP assistance. To find out about help in your state, contact your local LIHEAP office.

Medicaid and CHIP (Children's Health Insurance Program)

Medicaid and CHIP are programs to help low-income families with medical bills and access to health insurance. 

To qualify for Medicaid, your income must fall below a certain threshold, and to qualify for the CHIP program, a child's family must have an income that is too high to qualify for Medicaid but too low to afford private coverage. The easiest way to apply for Medicaid and CHIP is to fill out an application with the Health Insurance Marketplace. The Health Insurance Market Place will inform you if you're eligible for Medicaid or Chip and send your application to the relevant authority. Alternatively, you can contact find a program by state. 

Welfare or Temporary Assistance for Needy Families (TANF)

Temporary Assistance for Needy Families (TANF) is a state-run, federally funded benefits program. TANF can help families meet their basic needs and achieve financial independence after temporary difficulty. If you're eligible, you may qualify for help with

Each state runs its own TANF program, and some tribal groups also operate their own TANF programs. To find out if you're eligible, you must check the TANF program in your specific state to find out what benefits and services it provides. 

Lifeline is a federal program run by the Federal Communications Commission (FCC) that helps low-income people receive discounted cell phone service or landline. In addition, some people may also qualify for a free cell phone.    

You may be eligible for the Lifeline program if you or your family:

Do not have an income above 135% of the federal poverty guidelines

Already participate in a benefits program including:
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To apply for Lifeline, you must find a participating company in your area and apply through it. As part of the application, you will need to provide the company with basic information such as your name, address, date of birth, social security number, and some form of valid, unexpired identification, such as a driving license or social security card. 

It's important to note that you must recertify your Lifeline participation every year.

If you need help with paying for your prescription drug costs, there are various programs from government agencies and pharmaceutical companies. Each program has different eligibility requirements and offers different benefits, so be sure to search around to find the one that meets your needs.

To find programs that help with prescription drug costs, you can ask state social services agencies and local health centers what kind of assistance they offer to people with limited access to health care. They may be able to provide referrals to other local organizations that can also offer help. 

In addition, you can also ask your healthcare provider about alternative generic drugs that are more affordable or contact the pharmaceutical company that manufactures your prescription or device directly and request samples or discounts.

Find the Right Assistance Program for You

If you're in financial need and need help meeting your living expenses, there are options available. Start your search online today and find out if you're eligible for a government assistance program.

How To Find the Most Affordable Engagement Rings

Are you ready to pop the question but not ready to break the bank? Here are some handy tips on how you can find the best deals on engagement rings!

Everyone has an opinion about engagement rings. Tradition would say that an engagement ring should equal three months' salary, but in today's world, is that really necessary? 

Many modern couples are shying away from insanely priced engagement rings and opting for something a little more modest — but just as beautiful! If you're looking for the best deal on an engagement ring, read on to find out how you can find affordable but stylish options.