August 3rd, 2009 at 06:50am Under Best Credit Card
i got a 730 credit score
i got offers for new cards
i want to transfer about 2k onto 1 card
alot of cards offering me low apr % but they dont give an exact number
do i have to apply for these cards just to see the %? doesnt mean i have the card right? dont want to commit, just want to see my apr %
By Finance Enquirer 3 comments
August 3rd, 2009 at 12:49am Under Best Credit Card
have any credit right now. I want to do some things that will build up my credit but am not sure what to do. Any suggestions? …I have tried to apply for one credit card and I didnt qualify just because I had zero credit! I mean, how do you get credit if someplace doesn’t let you start? Help!!!
By Finance Enquirer 7 comments
August 2nd, 2009 at 06:48pm Under Auto Loan
I had bad credit from when I was younger. But I have been working on re-building my credit for the past 5 years.
By Finance Enquirer 3 comments
August 1st, 2009 at 11:53pm Under Best Credit Card
Nearly everyone has a credit card or knows someone who does. Credit cards are an asset when used judiciously, help build credit and make travel and shopping convenient. Many people feel safer carrying plastic than cash.
Credit card companies and banks depend on the fees and APR (annual percentage rate) they charge their cardholders for their profits. There are many types of credit cards and not all of them are right for all consumers. Credit cards are generally unsecured debt, or money the cardholder owes that has no backing collateral. The exceptions to this are the pre-paid credit card and secured credit card, both which can be used to repair damaged credit.
A secured credit card is backed by collateral, or something of value that the credit company can seize if the cardholder fails to pay their balance. The collateral is usually equal to or exceeds the available credit balance.
Consumers who are trying to build up their credit, whether they are just starting their credit history or trying to recover from poor credit history generally use these cards. Prepaid cards are becoming very popular with the parents of young college students as a way to keep them within a budget but still give them a bit of freedom in how they spend their allotments.
Consumers who try to avoid paying higher interest are using Balance Transfer credit cards more and more. Transferring a balance from a high interest credit card to one with lower interest can be a real money saver.
Some cards have an introductory rate of 0% APR which increases after a specific number of months. If you have a large balance on a card that has a 16% APR and transfer it to a 0% card, you’ll save hundreds of dollars in interest. For this reason, balance transfer cards are doing a great business. The terms very widely between cards, so be sure that you know the conditions of each card.
Balance transfer cards can be very useful when purchasing large-ticket items like appliances on one credit card then transferring the balance to the 0% card.
Cash back credit cards reward the cardholder by returning 1% or sometimes more, of their purchases. Even mortgage companies have jumped on the cash back bandwagon, applying the 1% to the cardholder’s mortgage principal.
Over time, and as long as you don’t incur interest fees by carrying a balance from month to month, that 1% can be a significant contribution to paying down your mortgage. Some credit cards send the cardholder a check while others apply the rebates to the balance owed, if any.
There are other types of rewards for using credit cards, too. Consumers can get cards that award them mileage on airlines, points that are used to purchase merchandise, rewards of gasoline rebates or points toward lodging or entertainment. Some of these cards, however, charge a yearly fee to cover the costs of rewards so it pays to read the terms and conditions of such cards.
When used responsibly, credit cards can be a real asset. They are convenient, accepted nearly everywhere and make it easy to track expenses. In addition, unlike cash, if they are stolen your losses are minimal or none.
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August 1st, 2009 at 06:39pm Under Student Loan
I understand that’s the interest rate for borrowing funds from a financial institution ? But, what does it mean?
By Finance Enquirer 4 comments
August 1st, 2009 at 03:28pm Under Auto Loan
And what is the max I can be charged in the state of NJ?
By Finance Enquirer 1 comment
August 1st, 2009 at 07:10am Under Auto Loan
i just turned 18. and i have very little credit established. what is the least you guys think i’d be able to expect from any bank or credit union. also if you have any suggestions as to where please include. thanks a lot
By Finance Enquirer 1 comment
August 1st, 2009 at 01:45am Under Student Loan
The interest rate on an equity line of credit was 7 5/8 % last month. This month the interest rate is 9 3/8 %. How many percentage points has the interest rate increased?
By Finance Enquirer 1 comment
July 31st, 2009 at 12:50pm Under Consolidation Loan
I need to pay off like 5 credit cards,and 2 personal loans. I am just trying to put it all together and lower my monthly payment. Please help me with this.I have pretty good credit i guess but alot of inquiries because 2 car dealerships shotgunned my credit report around.
By Finance Enquirer 4 comments
July 31st, 2009 at 07:41am Under Commercial Loan
They are usually tied to prime plus in our area unless your a big developer. The terms are not as good as home mortgagees.
By Finance Enquirer 2 comments