What is Principal and Interest?
One of the most common questions consumers ask is this: what is principal and interest? They’re both terms related to loans, but what do they mean? We believe that financial literacy is a core component of achieving financial empowerment. And understanding principal and interest is key to paying off debt. So let’s take a look […]
Interest Rate vs APR: What’s the Difference?
“Did you get a good interest rate?” When applying for a personal loan, that’s the first thing everyone wants to know. The second: what exactly is interest rate vs. APR? The short answer is this: While finding a low interest rate is undoubtedly important, it doesn’t tell the whole story—especially when it comes to fees, […]
Is a Credit Card Balance Transfer Right For You?
A credit card balance transfer lets you move debt from one card to another that has a lower interest rate. Many credit card issuers offer a 0 percent, or otherwise low, introductory APR on balance transfers.
What is a FICO® Score?
Most adults in the United States have at the very least, heard of a FICO® Score. However, most lack knowledge of the nitty-gritty of a FICO score – its meaning, how it differs from other credit scores, what it’s used for, why it changes, what a “good” FICO score is, and more. Luckily, Prosper is […]
Establishing New Credit: How to Establish a Credit Score
The challenge of establishing new credit is obvious: lenders make decisions based on credit reports. However, without a credit history, building a credit history can be a challenge.
Boost Your Credit Score: 5 Tips
A strong credit score can help you achieve your financial goals. Follow our 5 easy credit score boosting tips to see how your score may rise.
How to Use a Credit Card Responsibly
Prosper’s guide on how to use a credit card responsibly will help you get all the benefits of credit card usage without the drawbacks.