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It's harder b/c credit cards have a very tough time collecting on bad debts. Car loans usually have a lien on your vehicle, so that's their collateral. Credit card co.'s do, but very rarely, repo goods, but only if they can trace actual goods purchased.
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What is the difference in Conventional loan verses credit card loan?
The primary difference between a conventional loan and a credit card loan is that a conventional loan is given to you in one lump sum whereas a "credit card loan" or line of credit can be drawn down as needed rather than in one lump sum. You can find out more about business lines of credit by visiting www.businessloc.com
Is there a difference between a balance on a credit card or a loan from a financial institution in terms of credit history and credit rating?
AnswerDo you mean does a loan balance impact your personal credit differently than a credit card balance? Your rating and score are both contingent upon your pay history. The loan company is irrelavent.will a deliquent credit card hurt my other creditors or ruin my credit history
What are some ways one can secure a loan to pay off credit card debt?
Securing a loan to pay off a credit card debt is not generally a good idea. However, if the interest rate on the loan is lower than the credit card rate it may be a good thing to do. Online lenders usually do not offer a rate lower than credit cards, so one's bank may be the only place to find a loan with a lower rate.
Where can a person get a used card loan when they have bad credit?
You can get a used car loan (no such thing exists as a used card loan) from places like a used auto dealership. However, your monthly payments will be a lot higher than someone with good credit.
How can one apply for a secured credit card?
One can apply for a secured credit card by phone or in person. Some banks also allow applicants to apply online on their website.A secured credit card is harder to qualify for than a regular credit card.
What is the difference in Conventional loan verses credit card loan?
The primary difference between a conventional loan and a credit card loan is that a conventional loan is given to you in one lump sum whereas a "credit card loan" or line of credit can be drawn down as needed rather than in one lump sum. You can find out more about business lines of credit by visiting www.businessloc.com
Why might an loan carry a lower rate than a credit card loan?
haha NOOB
Why might an auto loan carry a lower rate than credit card loan?
haha NOOB
What are some dangers of taking out a loan to pay down credit card debt?
The danger of taking out a loan to pay down credit card debt is that one may then be inclined to borrow more on the credit card. However, if the loan is at a lower interest rate than that on the credit card debt, and more debt is not incurred, it would be a good idea.
Is there a difference between a balance on a credit card or a loan from a financial institution in terms of credit history and credit rating?
AnswerDo you mean does a loan balance impact your personal credit differently than a credit card balance? Your rating and score are both contingent upon your pay history. The loan company is irrelavent.will a deliquent credit card hurt my other creditors or ruin my credit history
What are some ways one can secure a loan to pay off credit card debt?
Securing a loan to pay off a credit card debt is not generally a good idea. However, if the interest rate on the loan is lower than the credit card rate it may be a good thing to do. Online lenders usually do not offer a rate lower than credit cards, so one's bank may be the only place to find a loan with a lower rate.
Where can a person get a used card loan when they have bad credit?
You can get a used car loan (no such thing exists as a used card loan) from places like a used auto dealership. However, your monthly payments will be a lot higher than someone with good credit.
How can one apply for a secured credit card?
One can apply for a secured credit card by phone or in person. Some banks also allow applicants to apply online on their website.A secured credit card is harder to qualify for than a regular credit card.
If you have bad credit will the credit card companies take your credit card away?
Yes, but the consequences of having bad credit could be and would be much worse than just losing your card. +++ Primarily, you would find it far harder to obtain credit, including mortgages, in future
Is it possible to get a real estate loan if you have poor credit?
It is possible to get a real estate loan with poor credit, but much harder than it used to be before 2008. You will have a much higher interest rate, and may need a cosigner.
Can a person increase the credit limit of a home equity loan over the phone or do you have to start the loan process all over again?
If it is a home equity loan, then it is much different than a credit card. You cannot increase the limit.
How can I buy a bicycle through a bank loan?
First, you should determine if you can qualify for a credit card. If you have good (680+) credit and make more than $12,000 per year, you should be approved for a credit card. While credit limits are based on income, most standard credit cards will start someone in the $1,000 to $2,000 range. However, the interest rate may not be what you want. .. IN this case, a bank could provide you with a personal loan. You would go through the application process and help them understand why you want the loan and why you would be a good credit risk, and, given a good credit score, they will give you the cash. A personal loan will likely have a lower APR than a credit card. Once you have the credit card or the cash from a personal loan, go buy the bike (and don't forget to negotiate).
