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Blue from American Express

0% introductory rate for purchases for 15 months
Then a fixed APR Prime + as low as 4.99%
No annual fee
Low Balance Transfer APR - 4.99% Fixed APR for the life of the balance.
Choose to carry a balance or pay in full
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Earn points that can be redeemed for gift cards, travel, merchandise, and unique entertainment experiences.
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	Unsecured loans are not backed by any collateral. You borrow money on the strength of your good credit and ability to repay alone. Revolving vs. Installment Loans Revolving and installment describe the amount of time you have to pay back a loan. With a revolving loan, you have access to a continuous source of credit, up to your credit limit. You repay only the amount of the credit you use, plus interest on the unpaid amount. You may re-borrow the principal you've repaid. So the loan could remain "open" for years. With an installment loan, you pay an agreed amount, which includes principal and interest, every month. Each payment reduces the balance of the loan until it is paid off. There is a fixed ending date, known as the term of the loan. Fixed vs. Adjustable Interest Rate Loans Fixed interest is just that. You and the bank agree to a certain interest rate and it remains constant throughout the term of the loan. Fixed interest rates give you the stability of always knowing what your payment will be, so you can budget accordingly. Adjustable or variable rate interest fluctuates. Usually it is pegged to the Prime Rate - the interest the U.S. Treasury charges to its best borrowers. When the Prime Rate is high, such as during a period of inflation, you pay more. When the Prime Rate is low, such as when the government is trying to stimulate the economy during a recession, you save on interest. If you need to borrow during a period of high interest, your payments will drop once the Prime Rate drops. Types Of Loans Auto Loans: A secured loan in which the collateral is the vehicle you purchase. Credit Cards: An unsecured loan which allows you a line of credit against which you may borrow by presenting a plastic card to the merchant from whom you are purchasing the item. You may make more than one purchase, up to your credit limit. Personal Loans: Secured or unsecured loans made for a fixed purpose. Mortgages: A secured loan in which the collateral is the real estate you buy. Home Equity Loan: A secured loan for a fixed amount in which the collateral is your home. In some cases, the interest on this loan may be tax deductible. See your accountant. Home Equity Credit Line: A secured, revolving line of credit in which the collateral is your home. In some cases, the interest on this loan or a portion of it may be tax deductible. Consult a tax professional or your accountant. Home Improvement Loan: A secured loan for a lump sum fixed amount in which the collateral is your home. The money may only be spent on home improvements. The interest on this loan may be tax deductible. Consult a tax professional or your accountant. (In some areas of the country, a home improvement loan "secured by the equity in your home" may not be available. In these areas, an unsecured home improvement loan would be available.) Student Loan (Stafford Loan) A loan for college expenses underwritten by the U.S. Government. The loan is granted to the student. Payment is deferred while the student is still in school. Personal Line of Credit: Unsecured loans allowing you access to funds up to a fixed credit limit.

A "Lo Doc" or sometimes call "Lo Doc Home loan" are mortgage or home loans where documentation for verification of your income is not required. However, all other documentation is.

These loans are ideally suited to self-employed, independent contractors, investors, credit rating impaired, ex-bankrupt or clients with arrears on current mortgages and borrowers who have been rejected by traditional lenders. Including people with suitable incomes but to meet bank verification takes valuable times and money.

Low Doc Home Loans (Low Document) are usually slightly more expensive than traditional loans due to the higher risk profile.

This is primarily for people who are looking to purchase investment properties, residential or refinance existing housing property and don’t have PAYG or current taxation returns confirming their income, which normally sustains a standard investment loan.

There are 3 main types of Low Doc or No Document Loans.

No Ratio Loans

These loans are for lenders who may not wish to disclose their incomes, Thus there is no debt to income ratios for the lender to consider. Good credit and abundant assets the No Ratio borrower has makes up for the lender not considering the borrower’s income information. If gathering income documentation's is going to be a logistical nightmare, then this loan can offer a quick and easy process.

No Doc Loans

To get credit the No Doc loans requires the least amount of documentation. The lender evaluates your loan request with the minimal amount of financial information from the lender and maximum privacy is assured.

Stated-Income (Low Doc) Loans

If your income fluctuates week to week, month to month, the Stated-Income, or Low Doc loans are the most attractive. However unlike the No Doc Loans, the Low Doc Loan does require the lender to disclose earnings, usually for two years, and might need to show tax returns and bank statements.

If you think a No Doc or Low Doc loan is right for your situation, talk to a mortgage expert. It might be beneficial for you to pay a higher rate for this loan. A good mortgage banker can also show you how to obtain the necessary documentation.