These 10 money-themed books can help you improve your finances.
Application fee is a term it’s important to understand. Bankrate explains it.
What is an application fee?
An application fee is an added cost associated with submitting an application for consideration.
Application fees are often added to applications for home financing. In the case of loans or lines of credit, the fee will be disclosed in the terms and conditions.
Application fees are not restricted to the financial industry. High school seniors are charged a non-refundable fee for each college application they submit.
Many real estate companies charge application fees to rental applicants to cover the cost of background checks and credit reports. This fee is not a part of the security deposit.
Application fee example
If you are interested in applying to college, the first step is filling in all required information on an application. After completing the necessary forms and essays, you can submit the application electronically. The application fee is also sent at this time. In most cases, the college or institution uses a secure online payment system to prevent fraud.
More From Bankrate
4 min read May 13, 2022
There are many ways scammers can steal identities and use them for gain, usually of a financial nature.4 min read May 06, 2022
A significant portion of Americans experience financial worries.5 min read May 02, 2022
Identity theft is a term that covers a variety of crimes in which someone steals another person’s personal information.5 min read Apr 29, 2022
Look for a plan with a reputable provider that offers services that make you feel confident.5 min read Apr 29, 2022
If you discover the breach early and act without delay, you could minimize the damage.4 min read Apr 29, 2022
Here’s a breakdown of where identity theft occurs most often, according to FTC data.5 min read Apr 29, 2022
Stay alert and don’t think identity theft can’t happen to you.5 min read Apr 29, 2022
You can report ID theft to the FTC and your local police department.4 min read Apr 29, 2022