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If you can afford the payment at that rate, then it might be exactly what your credit needs. Mortgage loans play a very large role in credit scores; they can have a positive effect on your score if you keep them current but also can hit the score real hard if you are even just one time over 30 days late.

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โˆ™ 2006-07-14 00:03:39
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Q: If you have a credit score of 520 should you purchase a condo if the best interest rate you can get is 11 percent?
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How can one purchase a credit card with bad credit?

One can purchase a credit card with bad credit by making an application to the following companies: Vanquis, Capital One, Aqua, Barclay Card, Luma. One should note that interest rates might be higher than usual.

How is credit card interest calculated?

Credit card interest in calculated daily. For example, if you have a credit card with 12% apr, you would divide the interest by 12 months. You should always check with your credit card company on how they calculate your credit card interest.

What is a good credit score range if i'm looking to purchase a house?

Credit score will affect your interest rate when buying a home. If you have between 800-700 your score is high and therefore you should be able to receive a great interest rate. If you are lower than 700 but higher then 500, you should be approved too but the interest rate will be higher.

Who should create the journal entry for interest income?

debit interest receivablecredit interest income

The earned interest on deposit is a credit or debit entry and against what should be done?


Unused fees on credit line should be operating expenses or interest expense?

Interest Expense

If a person dies can the credit card account still accrue interest?

No, it should not continue to accrue interest.

Can interest paid on credit cards be claimed on taxes?

This would depend on where you live. In the UK, if the items purchased on the credit card were purchased solely for the business then the interest paid to the credit card company until these items were paid off might be considered a business expense. Essentially the business would be paying the credit card company interest for loaning it the money to purchase the business items. In this case proof of the interest accrued should be retained for tax records in addition to the receipts for the items purchased.

How would you go about converting over from a high interest credit card to low interest credit cards?

First you should run a check of your credit score to see if you qualify for a lower interest rate. If your credit is in good shape many companies are willing to let you put existing debts on a new card with a lower interest rate.

What is the formula used to calculate 8.5 percent interest on a credit card with a balance of five hundred dollars?

Credit card companies use several methods to calculate interest. There can be one or two billing cycles per month. Interest can be charged on the daily balance, new purchases, etc. You should refer to the "How finance charges are calculated" section of you billing statement.

Why would we get a refund check from HSBC Private Label Corp?

If you applied for a store credit card, like toys r us (while making a purchase) to save say... ten percent... If they denied you at that time but reviewed your credit at a later time and found out you are quilified to get that credit card, then this is the reinbursment on that 10% savings you should have gotten at the time of purchase

Jared is performing a bank reconciliation and comes across a 3.50 interest credit What should he do with the credit to reconcile his statement?

subtract the credit from his checkbook balance.

How can you get a credit card that is not secured when you have no credit?

There are banks that give people with no credit a chance. But you should keep in mind that the interest rates of unsecured credit cards for bad credit are usually very high. So you should pay your bills on time.

How much money do I need to deposit for a secured visa credit card and what are the interest rates like for them?

The lowest amount you should deposit in a secured visa credit for you get interest is $ 500.00. Expect to get 5 % interest back into your account.

Why should you investigate the regular interest rate of your credit card?

the interest rate might be more causeing you to waste your money

What should you do first when calculating simple interest?

change the percent to a decimal

What is the monthly interest payment on 10 thousand dollars borrowed against a credit card with 19.9 percent APR?

Your monthly payment, assuming you have quoted the interest rate correctly, should be $165.83 if you pay this off in one year (12 monthly payments)

How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?

"How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?"Incomplete question.... to do what?

Which company should I get a low interest rate credit card from?

You may want to consider contacting a local credit union. Credit unions offer services including credit and debit cards or business loans with interest rates significantly lower than national banks!

highest or legal interest rate for loan on a 2003 commercial semi truck?

well I don't know how high the legal interest is in keeping with usury laws, it should never be more than 25-35 maximum. Unless you're dealing with really bad people sharks. Depending on your credit, you can get rates as low as 6 percent on up to 18 percent. But the usual runs between 6 to 8 percent right now with good credit. Bad cred yer talkin more like 18 percent.

Should I consolidate my high interest credit cards into a personal loan from my credit union?

A personal loan can be used to consolidate debt and repay multiple debts such as balance transfer credit cards to find the best option for you. It can also be expensive especially if some of your debts have a high interest rate. Personal loans can come from banks, credit unions or online lenders. affordabledebtconsolidation.

What if your credit card company charges 18 percent APR Annual Percentage Rate?

Then you should probably look for a lower interest rate card, unless you plan to pay off the balance in full. Otherwise, you will be paying ALOT of interest. A card with a small yearly fee that offers an 11% interest rate may be worth paying the fee to avoid very high interest payments if you plan to carry a balance. A line of credit is a good alternative to a credit card and often have much lower interest rates. It is always a good idea to consult a financial advisor or someone at the bank who can help you make intelligent credit decisions.

Is 766 a good credit score?

Yes, 766 is considered a good credit score. It is not a perfect credit score, but should be able to get you lower interest rates and approved loans.

Which debts should be paid off first?

For consumer debts, credit cards. Highest interest.

How much money should be invested at an annual interest rate of 8 percent in order to earn 250 of yearly interest?