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Is it legal for a credit card company to charge 109.96 percent interest on a cash advance?
Wiki User
∙ 14y ago
Credit card interest and fees are determined at the state level at present. Congress has passed a law which makes bait and switch tactics more difficult but legal interest ceilings are still a state matter.
Wiki User
∙ 14y ago
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What is the best deal on a cash advance?
The best deal on cash advance is one from a company who will charge someone little to no interest on the amount of money advanced to the banking account. Most cash advance lender will have extremely high and ridiculous fees to go along with them.
Why do finance companies charge such high rates of interest?
If a company has adopted 'Table A', it can charge interest on calls-in-arrears at the rate of
If you charge 4000.00 at 2.99 percent how much interest will be accrued?
200.00
Can a moving company charge 5 percent interest for using a credit card?
Yes it depends on the company through which you are making the transaction. Dont use credit cards , always use debit cards.
Can a credit card just raise interest to 29.99 percent without good cause?
Credit card companies can do what they like with interest rates. You are effectively borrowing money from the credit card company (they pay the store for the goods you buy) then you pay the card company back. They are entitled to charge for the service they provide. The interest they charge pays for the production of the cards, the offices, computer systems and staff - and the interest THEY pay on the money they are lending you !
How much interest is paid to cash advance lenders?
Cash advance lenders charge outrageous interest rates to borrowers, ranging anywhere from thirty percent to three-hundred percent. This is why it is advised never to borrow from a cash advance lender.
What is the best deal on a cash advance?
The best deal on cash advance is one from a company who will charge someone little to no interest on the amount of money advanced to the banking account. Most cash advance lender will have extremely high and ridiculous fees to go along with them.
What do I need to know about cash advance loans before getting one?
You really should know what the interst rate is going to be. Some of those places charge in excess of 50 percent interest.
Why do finance companies charge such high rates of interest?
If a company has adopted 'Table A', it can charge interest on calls-in-arrears at the rate of
What is the top negative complaint about using cash advance companies?
Cash advance companies normally charge very high interest rates.
If you charge 4000.00 at 2.99 percent how much interest will be accrued?
200.00
Can a moving company charge 5 percent interest for using a credit card?
Yes it depends on the company through which you are making the transaction. Dont use credit cards , always use debit cards.
Can a credit card just raise interest to 29.99 percent without good cause?
Credit card companies can do what they like with interest rates. You are effectively borrowing money from the credit card company (they pay the store for the goods you buy) then you pay the card company back. They are entitled to charge for the service they provide. The interest they charge pays for the production of the cards, the offices, computer systems and staff - and the interest THEY pay on the money they are lending you !
Can you tell me what corporate advance means from a mortgage company?
Corporate Advance: a charge made to a borrower's account to protect the lender's / investor's interest in a property (e.g. property inspection, comparative market analysis, attorney fees, etc.). This fee is later recouped by the lender.
What are the benefits of a cash advance?
The benefits of a cash advance are that it will allow an individual to have money on hand when they do not have any to draw from at a bank. These advances usually have a high interest charge.
Can a company that is not a finance company charge interest and finance charges to someone it has lent money?
Yes.
What is the percent per month they can charge in interest?
Whatever they want to charge. The only legal requirement is that they have tomake sure that you know the interest rate before you borrow the money.
