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Can the bank charge interest after the cards has been cancelled?
Wiki User
∙ 14y ago
No. A Card can/will be canceled only when there are no dues against the card and hence charging interest after the card is canceled cannot be done.
Wiki User
∙ 14y ago
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What is charged in an interest rate?
Interest Rate is the cost of borrowing money. When a bank or other lending institution lends money to you, they charge what is called an interest rate. This interest rate is typically set by governing bank of the country - for example, in Canada it is the Bank of Canada, in the USA it is the Federal Reserve. This is called the Prime Rate and is the rate of interest banks charge their best customers. You and I usually get .5% or 1.5% more than that. Credit Cards charge a lot of interest - typically 20% to 22% per annum.
Do you pay interest on Debit cards?
No, you do not pay any interest on debit cards. A debit card is nothing but a card similar to an ATM card. Instead of withdrawing cash, you swipe it at merchant establishments directly. You can only use as much amount as you have in your bank account and hence the bank cannot charge you any interest for using the same.
What are some bank credit cards with a low interest rate?
Some bank credit cards with a low interest rate include Bank of America. Citi is also one that you could find that would have a low interest rate on their company.
What credit cards offer low interest balance transfers?
The credit cards that offer low interest balance transfers are from Bank of America, Wells Fargo, Chase. There are many credit cards that offer 0% interest.
What is the meaning of reverse repo rate?
repo rate - is the interest rate that reserve bank use to charge commercial banks repo rate - is the interest rate that reserve bank uses to charge commercial banks
What is charged in an interest rate?
Interest Rate is the cost of borrowing money. When a bank or other lending institution lends money to you, they charge what is called an interest rate. This interest rate is typically set by governing bank of the country - for example, in Canada it is the Bank of Canada, in the USA it is the Federal Reserve. This is called the Prime Rate and is the rate of interest banks charge their best customers. You and I usually get .5% or 1.5% more than that. Credit Cards charge a lot of interest - typically 20% to 22% per annum.
Do you pay interest on Debit cards?
No, you do not pay any interest on debit cards. A debit card is nothing but a card similar to an ATM card. Instead of withdrawing cash, you swipe it at merchant establishments directly. You can only use as much amount as you have in your bank account and hence the bank cannot charge you any interest for using the same.
What are some bank credit cards with a low interest rate?
Some bank credit cards with a low interest rate include Bank of America. Citi is also one that you could find that would have a low interest rate on their company.
What credit cards offer low interest balance transfers?
The credit cards that offer low interest balance transfers are from Bank of America, Wells Fargo, Chase. There are many credit cards that offer 0% interest.
What is the meaning of reverse repo rate?
repo rate - is the interest rate that reserve bank use to charge commercial banks repo rate - is the interest rate that reserve bank uses to charge commercial banks
Which bank offers a low interest visa?
There are several financial institutions offering low interest Visa cards. Some examples include "Royal Bank of Scotland", "Scotiabank", "Bank of New Zealand" and "Bank of America".
Does U.S. Bank offer the lowest interest credit cards?
Usually a bank that has Zero percent interest only has it for a certain period of time. You can not go any lower than zero percent interest.
Can you charge interest when suing your exhusband for bank child support?
You may ask the court to award a judgment for interest.
Can a credit card continue to charge interest when the bank goes out of business?
According to my opinion, if a bank goes out of business or becomes bankrupt then credit card cannot continue to charge interest . Because now bank has no rights to give and take money from anyone.
What companies offer credit cards with 0 interest on balance transfers?
Many companies offer credit cards with zero interest on your balance transfer. Capital One, Citi Bank card and MasterCard all over zero interest on switching to their cards.
What is the certificate of deposit interest rate?
Each bank that charges interest for a certificate of deposit is going to charge differently. This question does not specifically mention the bank. The average interest rate, is around 1.000%.
What companies offer credit cards with the lowest interest rates?
Bank of America offers low interest rates on some of their credit cards. You can also check out Citibank and Capital One.
