What is Sofi? Sofi is an online bank that is very oriented towards the social and financial well-being of its customers. They started off as a lending institution that was mainly focused on student loans to help students get the best rates they could if they were going to get loans for their higher education….
What is a Credit Union? A credit union is very similar in nature to a regular bank with a few key differences. In a credit union, the member of the said unions are also partial owners of the credit union. Credit unions are actually non-profit institutions that are typically meant to cater to certain groups…
What is a credit score? A credit score is a score tied to your social security number. This number is based on how much “debt” a person uses in their day-to-day life and how good a person is at paying back said debt. One of the most common ways to build up a person’s credit…
What is Discover? Most people only know Discover as a credit card company. They offer cards like their cash back credit card, which allows you to earn 5% cashback on quarterly rotating categories on things like gas, groceries, and etc., and at the end of your first year using the card they match the cashback…
What is an interest rate? Interest rates are the rates at which you earn money with things like savings accounts, checking accounts, dividends, and etc. They are also the rates at which the amount of money that you owe on things like various types of loans and other debts increases. Most interest rates are what…
What is Aspiration? Aspiration is an online bank that that provides many of the usual products provided by banks like checking accounts, savings accounts, investment, and credit cards. They are also a bank that focuses very, very, heavily on saving the planet with the way they do business. Whenever you spend money with Aspiration you…
What is Chime? Chime is an online bank like Sofi or Ally. They are an online bank that provides checking accounts, savings accounts, and credit cards for its customers. It was founded on the premise that basic banking services should be helpful, easy, and free. That’s why their model doesn’t rely on an overdraft, monthly…
What is a savings account? A savings account is a type of account that you can open in a financial institution like a bank or credit union. This type of bank account allows you to deposit money to be stored safely in a bank for you. Savings accounts also typically earn more interest than checking…
What is a checking account? A checking account is a type of account that you open with a financial institution like a bank or credit union that allows you to deposit your money to be held with them and can withdraw it at any time. Checking accounts allow people to access the money held in…
What is Ally.com? Ally.com is a popular online bank that offers many of the services that regular banks do with much, much lower fees. They offer checking and savings accounts. They offer CDs (certificates of deposit), investment accounts, home mortgages, auto, and personal loans. Banking with Ally.com! Checking Accounts! Ally offers both checking and savings…
