Hey, Your LetmePayday Newsletter For 13 August 2022

This is your Newsletter. [LPB]( [LPL]( [LetmePayday Newsletter]( You Might Like     [Learn more about Jeeng](  [Visa vs. Mastercard: What’s the Difference and Which Is Better?]( [Visa vs. Mastercard: What’s the Difference and Which Is Better?]( More likely than not, readers here will almost certainly have a credit card or debit card tied to either Visa or Mastercard. Although Discover and American Express both have their own cards in the U.S. too, Visa and Mastercard are the true kingpins on an international scale. As the dominant forces of the global payment industry, there are several important similarities and differences between the two. What Do Visa and Mastercard Do? Visa and Mastercard operate digital payment networks for global economies. The pair processed a combined $7.4 trillion worth of payments in 2021, bringing the total number of cards in circulation to several billion, according to the Nilson Report. They are integrated with millions of merchants across the globe and process billions of transactions each year. Contrary to popular belief, Visa and Mastercard are not card issuers; they merely facilitate payments on their networks. Both companies partner with major institutions such as banks, credit unions, governments, and companies that issue cards fit for consumer purchases. These are what’s known as co-branded cards. What’s the Difference Between Visa and Mastercard? Consumers may believe there are major differences between Visa and Mastercard — however, the opposite is true. In actuality, the pair are very similar. As illustrated in the table below, both Visa and Mastercard offer near-identical services with few exceptions. [[icon] Read MoreÂ](  [Get the money you need](   [What is a Good Interest Rate for a Personal Loan?](  [What is a Good Interest Rate for a Personal Loan?]( When you take out a personal loan, you have to pay interest. As a result, it’s in your best interest to get the best personal loan interest rate possible. At this point, you might be wondering “What is a good interest rate for a personal loan?” Or at least, “What is the average personal loan rate?” Generally, the rate you’ll receive will vary depending on your credit score, income, the amount borrowed, and loan repayment term. Still, there are some industry averages you can use to compare personal loans. Here’s how to find out whether the loan interest rate you’re offered is a good interest rate. What is a good personal loan interest rate? Experian put the average personal loan annual percentage rate (APR) at 9.41% in 2019, while the New York Federal Reserve puts the average personal loan interest rate at 9.34% for the third quarter of 2020 on a 24-month loan. But your financial history influences the rate you’re approved for, so might get approved for loans above or below the average interest rate. How do you know if the interest rate you’re offering is good for you? [[icon] Read MoreÂ](   [13 Tips For First-Time Home Buyers](  [13 Tips For First-Time Home Buyers]( The lure of first-time homeownership is powerful. Your focus could be building generational wealth or creating an investment to sell when you retire. Whatever your reasons for buying a house, you may be quite a few steps from the moment you can kick back and enjoy your home purchase. Here’s our best advice for first-time home buyers looking to embark on the journey to homeownership. 1. Be Sure You’re Ready To Commit To A Loan The No. 1 tip that we can offer first-time home buyers is to be sure you’re ready. The average mortgage loan term is 15 – 30 years. Although you don’t need to stay in your home for that long, buying a house is still a major commitment. Be 100% sure that you’re ready for homeownership before taking on a mortgage. Start by asking yourself these questions: - Am I ready to commit to this home and city for at least 5 years? - Do I have an emergency fund that can cover at least 3 months of  expenses? - Do I have a stable income? If the answer to any of these questions is “no,” you may want to hold off on a home purchase for now. Keep saving. Keep researching. [[icon] Read MoreÂ](  You Might Like     [Learn more about Jeeng]( Connect with LetmePayday on Social Media Pages [Facebook]( [Linkedin](    [Unsubscribe](