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Largest "growth engines"

With lending products, growth capital, revolving lines of credit, equipment leasing of every kind, cash flow programs, asset financing, and more, GE Commercial Finance plays a key role for client businesses in over 35 countries. The industries served include healthcare, manufacturing, fleet management, communications, construction, energy, aviation, infrastructure and equipment, as well as many others. GE Commercial Finance has assets of over US$206 billion and is headquartered in Norwalk, Connecticut, USA.

Biggest Banks In The World

Biggest Banks In The World

Have you ever wondered who has the biggest? The biggest banks in the world

We covered this question and found interesting statistics, news, and general information about the world's ten most prominent banks. You will be surprised about some of the names of this top-down list.

How did we define the size of a bank?

That's a fair question. There are many factors that you could use for this ranking of the biggest banks in the world. However, this article's information is based upon Tier 1 Capital - a yardstick used by regulators to assess a bank's financial health.

What might be surprising to you is that only four of the biggest banks in the world are based in America, the United Kingdom had one in the top 10 list, as well as Japan, and the rest were based in China.

How do the biggest banks in the world operate?

The number one country in this race - China - might have the biggest banks. But American Banks are more efficient in their use of assets. And regarding Brexit, British Banks were mainly focused on increasing their profit margins lately.

Let's take a look at the world's biggest banks and why they got to their size and what they can offer, and where they get their profits.

1. ICBC, China - $338 Billion

The ICBC (Industrial and Commercial Bank of China) claims, "Integrity Leads To Prosperity." With over 17.200 branches all over the world that provide for 5.8 Mio. Businesses, and 530 Mio. Private individuals, the ICBC is an extensive organization, and it's 412 branches outside Asia proves that the company is active internationally on a big scale.

2. China Construction Bank, China - $287 Billion

The second-biggest bank on this list is the China Construction Bank, originally named People's Construction Bank of China when founded in 1954. Only on the 26th of March 2005, the bank was given it's current name, China Construction Bank. The bank is part of the Big Four Banks of China, and with over 14.000 branches, 12.500 cash machines, and more than 310.000 workers in China, you can tell why that is.

3. Agricultural Bank of China, China - $243 Billion

Founded in 1949, the Agricultural Bank of China is partly run by the Chinese Government. It is based in China, and its headquarters can be found in Beijing. Branches are available all over China and Singapore. The Agricultural Bank of China is also part of the Big Four Banks of China, and with 496.000 employees, it definitely is packed well for that position.

4. Bank of China, China - $230 Billion

The Bank of China has its origin in 1912 when it was founded. It's headquarters can also be found in Beijing, as well as the headquarters of the Agricultural Bank of China headquarters. As the world's 4th largest bank, the Bank of China - of course - is also part of the Big Four Banks of China. It employs over 300.000 people and provides them with jobs in China's financial sector.

5. JP Morgan Chase, US - $209 Billion

JP Morgan Chase - I guess this big investment bank will be most familiar to most of you - was founded only in the year 2000 and has grown rapidly ever since. Today it is accountable for the jobs of over 256.000 people and is led by James Dimon. It's headquarters can be found in the center of London in an impressive skyscraper with the name - JP Morgan Chase - on it.

6. Bank of America, US - $189 Billion

Next in the list and at rank number six is the Bank of America with it’s headquarters in Charlotte, USA. It was founded in 1923 and now employs over 208.000 people all over the world. Over 5.700 branches are keeping the bank running and up on top of the game. The Bank of America offers stocks, so you can become an investor of one of the largest banks in the world by acquiring shares of the Bank of America.

7. Wells Fargo, US - $168 Billion

Founded in 1852, Wells Fargo truly is an old ship in the sea of banks and financial institutions. It's over 259.000 employees managed mainly from their headquarters in San Francisco, United States of America. It is a universal bank, and big investment firms like Warren Buffett's Berkshire Hathaway was one of their biggest shareholders, which speaks for itself and the quality of the bank.

8. Citigroup, US - $158 Billion

Citigroup is a Financial Institution located in New York, in the US. It was created by the merging of Citicorp and the Travelers Group. The merger happened in 1998. During the financial crisis in 2007, the bank got into trouble but survived until this point — the Incorporated employes 200.000 people all over the world.

9. HSBC Holdings, UK - $147 Billion

The HSBC (Hongkong & Shanghai Banking Corporation Holdings) is ranked number 9 in the list of the biggest banks in the world. Founded in 1865, it is also one of the oldest on this list. Over the years, the company has grown to roundabout 235.000 employees.

10. Mitsubishi UFJ, Japan - $146 Billion

And the last place in this ranking of the biggest banks in the world goes to Mitsubishi UFJ! The Mitsubishi UFJ Financial Group was created on the 1st of October 2005 by the merge of the Mitsubishi Tokyo Financial Group and the UFJ Holdings and currently employs an estimated 102.000 employees.

These were the biggest banks in the world. We hope you enjoyed reading this article and now know the biggest players that control the financial world.

Credit Cards For Cash Back

Credit Cards For Cash Back

In this article, we will cover what the best cashback credit card is for you and what the most important factors are when choosing the right credit card if the cashback system is what you are truly looking for in a credit card. But before taking a look at credit cards with great cashback systems, let's first talk about all the benefits of using one. Many of them you might not know already.

The main benefits of cashback credit cards

Instead of just getting miles (which you currently due to COVID-19 can not use a lot of anyway) or any other form of incentive, you get real dollars in your pocket for every purchase you make with a cashback credit card. The biggest difference between cashback systems is the amount of money you get back per purchase. It all comes down to a percentage of every buying process that is processed with the special credit card.

What you should be aware of before ordering your cashback credit card.

Instead of just looking for any credit card that offers cashback, first of all, you should be taking a look at your personal financial CV, which means your credit score and other factors that determine whether or not you are accepted for a special cashback credit card. Oftentimes the best cashback credit cards offer the toughest requirements, and the bonus programs that are paying less have an easier barrier of entry. So what you should be aware of before taking a look at the market, you should become aware of your personal requirements and what you qualify for when ordering cashback credit card.

The factors that can determine whether or not you can qualify for certain financial products, for example, cashback credit cards. In case you have never thought about this topic and don't know how to find out your credit score and how you can qualify for good products in the future, here are some tips for your research.

How can I get my credit score?

There are a few ways to find out about your personal credit score. However, some are cheaper and easier, and some are more expensive and time-consuming. That's why we only want to keep you on the shortcut and tell you where you can find out fast.

With that being said, you have more than just one credit score, which most people aren't aware of. But all credit scores are calculated based on your credit reports of the three largest consumer reporting companies, and they all have slightly different information on it.

However, the easiest way to find out your credit score is by talking to a non-profit counselor. Non-profit credit counselors often are able to provide you with a free credit report and help you review them!

What do I have to watch out for?

Some cashback credit cards can have different fees that you should be aware of. For example, can there be an annual fee only after the first year? So you might be ordering your cashback credit card, don't get charged the first year, plan to cancel, but forget it, and afterward, you get charged because you entered the second year. So always double-check your cash back credit cards and especially the terms, conditions, and fees that come with your credit card before accepting the terms and conditions and afterward getting charged more money than needed. Always remember: A penny saved is a penny earned.

Is the cashback credit card ideal for any products, or are there things you should preferably buy with a cashback system?

Yes, there are special credit cards, special cashback conditions. For example, some cash back credit cards give you special rewards in the form of more cash back for travel expenses, some want you to buy groceries with their cards, and some have the highest cash returns for internet based purchases. And that's also why you can never name the best cashback credit card systems for the masses, but only for an individual. To find out the best cashback credit card for yourself, you need to figure out your situation, your financial CV, the products you qualify for, and on top of that, you need to know what you will pay most of your money for.

Since choosing the perfect credit card for you is a personal thing that can not be answered in just one question, we hope we made you aware of the fact that there are still a lot of things to know before taking the time to do your research. Like everything in life, it takes preparation to perfect your cashback credit card system. We hope this article inspired you and opened your eyes to future possibilities, and we wish you the best with your cashback credit card system!

What Is An IPO?

What Is An IPO?

Have you ever wondered what an IPO is? It sounds like a complicated word, but in fact, it isn't. So inside this article, let's take a look at what an IPO truly is so that next time someone mentions an IPO, you can confidently explain it!

The definition of an Initial Public Offer - Where does the word IPO come from?

IPO by definition in the books means Initial Public Offer. But what does it mean in the language of the average American that didn't study finance at a prestigious university?

In simple words, this is an IPO…

To keep it simple, an Initial Public Offering is basically the process of offering shares of a private corporation to the public in the form of new stock issuance. This allows companies to raise capital from public investors. Usually, it's cheaper and enables the company to raise money faster than through other fund-raising methods.

The history of the Initial Public Offer (IPO)

The term IPO is always wired to Wall Street in the city that never sleeps, New York City. While in reality, the Dutch can be credited for the first modern IPO. They offered shares of the Dutch East India Company. It was the first IPO, and over the years, there were many to come…

How is a company called before it’s IPO?

Any company that is not offering stocks to the public is called private. So a company is called private before its IPO, and afterward, it's a publicly-traded company. As a private company, any business with a relatively small number of shareholders that can include private individuals like the founders, family, and friends, but also professional investors, for example, venture capitalists or angel investors.

What is the notorious unicorn status?

The unicorn status is held by any company that has reached a private valuation of appel. $1B, so basically any company that is worth over 1 Billion USD. However, depending on the valuation strategy, the same company can be rated unicorn status by one professional investor and for another investor to be way under the unicorn status. It's a question about how the investor prioritizes assets, cash flow, market share, and other variables.

An IPO: What was a way to acquire long-term investments is now a rating system for the public that involves the idea, the products, the C-level executives, and others…

When IPOs came up, people and professional investors wanted to know all about the company's assets, its plans for the future and were long-term oriented. Nowadays, it sometimes feels like a rating system with real money, where people place bets about how other investors might like the idea. Investors throw money on the table for stocks they didn't study a lot; they just studied what the media was saying about the company to find out whether or not the price might rise or not.

The idea: If the media is speaking good about the stock, the company, and its IPO, they expect the graph to rise and buy immediately after the opening. Then they study the price all day, and when it hits a certain level, they decide to sell and take home the profits. But because this is the strategy of many investors, the price will be extremely volatile, and it does not represent the intrinsic value of the stock or the company. And that's what makes it dangerous to amateurs but fantastic for professional investors that have more experience and also better technology to maximize their yields.

The upside of IPOs - How can you benefit the most from an IPO?

It's not predictable how a stock will do in its first days at the stock market; however, if the charts go through the roof, returns over +100% in a couple of days are not something completely irregularly. High returns, low prices to buy a stock, and being part of a special moment in the company history can cause someone to take action and buy stocks at the IPO. What is also common is to give your employees stocks after the IPO instead of bonus payments. Through these special incentives, you can keep employees in your organization and make them feel like they own a part of the company instead of just working there.

The downside of an IPO and how to protect yourself from it

Because it's more or less a rating system, the IPO is simply unpredictable. If you can not and do not want to hold the stock long-term, my grandma would tell you to keep your hands away from it. Speculation is only a good idea if you can afford to lose the money or have insider information, as she said. Wise woman. But since insider information is highly illegal, you can never know for sure, and that's why I wouldn't recommend someone to buy stocks without actually being willing to potentially hold them into your portfolio for years.

The profit strategy and how professional investors make their money with IPOs

However, if you know what you are doing and can afford to lose the money or take the good, old "buy and hold" strategy as plan B, you can make a profit by buying right after the opening, observing the stock price until it hits your target price and then selling it. It's speculation, and no one - even Warren Buffett - can predict the exact outcome of an IPO. Speculating is an art itself, and you need the risk-taking character for it. If you don't have it, you should not do it.

Where to Inform about upcoming IPOs to benefit from staying up to date.

At exchange websites, you can find most of the reliable sources of information on upcoming IPOs. One of the most popular is the New York Stock Exchange (NYSE) and NASDAQ. Both provide sections dedicated to IPOs. Another way to find out about upcoming IPOs is Google News and Yahoo Finance. Other than that, there is IPO Monitor, IPO Scoop & Renaissance Capital IPO Center. They all offer details about the company, the stock, and the IPO itself. To get the best overview, you should check all reliable sources to make a profound decision.

Anything You Need to Know About Credit Reports

Anything You Need to Know About Credit Reports

Credit Reports can make or break your success when it comes to lending money. But why is that? And how can you increase your chances of getting money from lenders by having a perfect credit report? That's what this special article is all about.

The definition of a credit report:

What exactly is a credit report?

First of all, what exactly is a credit report, and why is it so important? Basically, your credit report can be a financial asset that determines which financial product you can access. You can consider your credit report as your financial CV. This credential piece of information helps lenders to predict your possibility of paying back the borrowed money.

Your credit report includes details about your credit accounts (and whether or not you kept up with paying them back), your address, and all of your financial connections. It is also about how much you currently owe to lenders, as well as county court judgments (CCJs) made against you, in case there are some available. If you have been declared bankrupt, then it will also be the main part of your credit report, of course.

What’s not included in your credit report.

It does not contain how much money you have in your current account. Your salary is excluded from the pieces of content of your credit report, too. Savings accounts are also not a part of the credit report, as well as student loans. If you were a criminal in the past or not - it will not be found in your credit report, as well as your medical history. Parking and driving fines can happen, but they won't be found inside your credit report. Council tax arrears are also not included in your credit report.

How can a good credit report be beneficial for me if I want to lend money?

First things first - let's start with the obvious. A great credit report can definitely allow you to get money from lenders way easier than with a bad credit report. So having a great credit report is the opener for lending money and allows you to qualify for more financial institutions to give you money. While it is easy with a good credit report to get money, it can be very difficult to get money from lenders with a bad credit report. So it's always a good idea to start with a checkup first and figure out if your credit report is fine before applying for loans and getting turned down all the time because of your Credit report - according to Tung Nguyen, an fellow finance influencer at Tien Day Vi. Tien Day Vi is a finance, vay tien nhanh authority site. Follow them their Facebook page here.

Get the best terms and conditions and thank your credit report for it later.

The second main benefit of a good credit report is that you will get way better terms and conditions from your lender if your financial credit report tells you are a reliable person when it comes to borrowing money. And because of that, you are in a position of power and will be able to get money for cheaper interest rates than average. Also, the principal can vary a lot, and your chances of getting a lower principal rate are higher if you have a decent credit report.

Make it easy for financial institutions to lend you more money by providing a perfect credit report.

If you want to borrow a lot of money, the exact amount the lender will give to you can also vary regardings your credit report. Individuals with a fantastic credit report will have it way easier to get financed for a larger amount than individuals with a poor credit report. And because that is just the harsh reality, you will benefit from a good credit report also for the fact that you can lend money not only cheaper but also a higher amount.

Negotiate like a Sales Ninja

Negotiate like a Sales Ninja with a good credit report - with the perfect credit report, and the negotiating power sits in the palms of your hand!

You got your offer approved, but you need different terms for your loan? With a great credit report, the negotiating power is in your hands. Banks are flushed with cash and want to give it away nowadays. If you have a good credit score and a good credit report, you can determine the rules and budge on the loan terms!

Get your Insurance rate at their lowest with the perfect credit report and take advantage of AI that calculates your risk.

Having a bad credit score does also work against you when choosing the right insurance for your car. Insurance companies use the information out of your credit report to predict your likelihood of paying the monthly rates. And if they feel like you are more likely to fall short on some payments, they will protect themselves by charging you a higher monthly fee.

Call more for less

"Call more for less money by providing the perfect credit report - your service provider will thank you for it!" - Tung said.

The same goes for cell phone contracts. If the communication/service provider company thinks you are likely to not pay the bills at some point, they might increase your monthly rate to secure themselves against you not paying your invoices. So mark my words, and next time you want the new iPhone with a service contract, think of me. The moment you look at the monthly rate, you will know what just happened. Your credit report either worked for you or against you. You will be able to tell that it worked against you if the rate is high and that it worked for you if your monthly payments are low.

And now get your credit report yourself!

We hope this article helped you understand the importance of a great credit report and a good credit score (which go hand in hand usually) and makes you think of ways to improve it. Because life simply is easier with a great credit report.

How To Improve A Bad Credit Score

How To Improve A Bad Credit Score

The benefits of a great credit score are huge, and a perfect credit score can be the key to your financial dreams! However, a bad credit score can happen, and with this article, I want to show you how you can fix the bad credit score that keeps you from getting money to a perfect credit score that makes financial institutions like banks beg for you to take their money.

What can be the reasons for a bad credit score?

Before we take a look at how we can fix a bad credit score, let's first figure out how a bad credit score can be triggered so that you can avoid mistakes that can kill your credit score and how you can fix each one of them asap.

1. You are late with your payments.

It’s no secret that by not paying your bills, you risk a bad credit score - according to Credit Optimal expert, Robert Ferry. But sometimes payments you didn’t know about can kill your score, too. For example, if you moved to another city and didn’t inform an institution that is sending invoices all day to your old address that you moved, it can happen very easily to hurt their policies fast and makes them take the next step that can get your scoring in trouble. So rule number one to improve your credit score is to always keep up with your payments and to not be late (even unintended). You can ask Robert more questions regarding fixing credit score at Credit Optimal's official Facebook.

2. Your debt was sold for bad reasons.

Whenever a creditor is unable to secure payments from the borrower, they will use third-parties to enforce the collection process. Often the creditors sell the delinquent debt to debt collection agencies after or before charging off their account.

And by sending delinquent accounts to collections, this credential information will be captured by the credit report. Unless you repair such information, you will have a tough time getting any other borrowers to lend you money. And that is for a good reason if you were a borrower with a history of poor collection.

Keep in mind to never let this case happen and always communicate with your creditors. That's the only way you can stop them from selling your debt and with that burning a big hole into your credit score.

3. You filed for bankruptcy.

Whenever a private person (individual) or a company is unable to pay debts, they might be forced to file for bankruptcy in order to receive legal protection. It is probably the most extreme event you can financially experience, and it's definitely the most damaging event to an entity's credit score.

Not only will this information be recorded in your credit report, but it also stays for seven years. To avoid making bad mistakes when it comes to lending, most lenders try to avoid lending to borrowers with bankruptcy and court cases in their history to protect themselves from losing money.

So under any circumstances, try to stay away from bankruptcy and rather borrow money from private people like friends and family and pay them back slowly but to get a bankruptcy into your financial track record.

4. Getting your account charged off

If you don't act as a reliable borrower for too long, the creditor might charge off your account. That will leave a black mark on your credit report, and you won't be able to make any purchases anymore with this account.

To not drop your credit score, you should behave as a trustworthy borrower and keep up with your bills.

5. Defaulting on loans

Sometimes life gets busy, and we forget things. However, what you should never forget is to pay your bills. You can't imagine how damaging missing just one month of a small amount can be until it happens. Your account will instantly be marked as in default, which hurts your credit score.

To make sure that never happens to you, implement a routine and a system to pay invoices as soon as they roll in every month. It’s hard to fix an unpaid invoice that got marked as in default, but it’s easy to prevent this scenario from happening.

But here are my ultimate tips to fix your bad credit score fast and easy for free in 2018 by the most efficient methods available.

Tip #1: Not maxing out your credit cards

It can help very well to not always max-out your credit card to the absolute limit. By not maxing out your credit card, you show banks that you are not dependent on the total volume available and can manage money. That’s why it improves your credit score.

Tip #2: Keep your failed payments as short as possible

Pay your debt back asap. Even if you fell short of a deadline, try to fulfill your payment as soon as possible to prevent your credit score from dropping even more. Sixty days of a missed payment is - of course - way worse than just 30 days of missed payments. Every day counts, so don't waste any time and get your credit score back to good!

Tip #3: Keep the number of unpaid bills as low as possible

It might be beneficial to you if you - instead of paying back the biggest missed payment - pay off several small amounts. For the number of missed payments, you can generally say the more, the worse, and that's why it will help to keep the number of missed payments as low as possible.

We hope this article helped you and that you will be able to improve and fix your credit score rapidly with our tips. I just want to remind you that this is just a general article and that we can not guarantee any results and that you should not consider this as a personal consultation but more as general information and generic tips. If you are serious about getting your credit score perfect, please consider a 1:1 consultation because every situation is a little different.

However, if you follow these tips, you should be able to better your credit score fast and without big mistakes!


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