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If your card has a 5K balance at 19 percent and they approve a second card for a 5K cash advance at 3.9 can you use it to pay off the first card?
Wiki User
∙ 8y ago
Most credit card companies will not allow you to pay one debt off for another, and for obvious reasons in this case (it would reduce your APR from 19 to 3.9). However, this doesn't mean you can't shop around for a card somewhere else to pay it off. 19% is fairly high so I would definitely suggest looking elsewhere to transfer the balance.
You can do what you want with cards from separate companies, but usally not with cards from the same company. However, there is a simpler way to solve this problem.
Many credit card companies will reduce your interest rate if you just call and ask for the rate to be reduced (assuming that you are current with your payments.) Last year I had my interest rate reduced from 18% to 5%, just by making a 3 minute phone call. The industry is very competitive and they want to keep your business.
Wiki User
∙ 8y ago
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Am I responsible for my spouse's credit card debt if I am not an authorized user?
Absolutely not ! If the card is not i your name - you have no legal responsibility for any outstanding balance. HOWEVER - IF you are named on the account as a joint card-holder - you're legally responsible for fifty percent of the balance, regardless of who ran up the debt. Additionally, if you have a second card on the same account - YOU are liable for the expenses occurred on your and the account-holder is also liable for fifty percent of the balance.
Why does the second mortgage holder have to approve of the first mortgage refinance?
The second mortgage holder typically needs to approve the first mortgage refinance because they hold a subordinate position to the first mortgage. Refinancing the first mortgage could impact the second mortgage holder's position, so their consent is often required to make changes to the primary loan.
How many cash advance can you get with the goodyear credit card?
There is not a listed limit to the amount of cash advances you can obtain with your Goodyear credit card. It appears that once you have paid off the first advance you can obtain a second.
What happens to the second mortgage when the first mortgage forecloses on the property and will the second mortgage go after the holder or will they show the balance owed as earned income?
Depends on the state. In many states the holder of the second mortgage can come after you for the balance due. If the second is from the same company that holds the first that may not be as likely. It really depends on your state and whether the lending institution has the right to pursue you for the balance between what they eventually sell the house for and what you owed. Check to see if your state is a deficiency state and then talk to an attorney.
Can you buy a home with 2 mortgages so you can pay 1 mortgage off and have a lower note for the balance of 30 yrs from having to only pay the one remaining mortgage This is a cash flow consideration.?
If I understand your question correctly, you would like to buy a home with a first and second mortgage because you feel that you would have the ability to pay off the second in a shorter period than your first. The answer is yes and these days it usually requires about 10 percent down payment because there are so few lenders offering a second mortgage to 95 percent due to the mortgage crisis and declining market values in some areas.
What is a second hand Game Boy advance?
The second hand Game Boy Advance is the Game Boy Advance SP. = =
Which state was the second to approve the Constitution?
Pennsylvania =D
Approve the declaration of Independence?
The Second Continental Congress.
When the Second Continental Congress reviewed the Declaration of Independence it?
The Declaration was published in July, but Congress didn't approve it until October.
How do you pronounce advance in English?
Advance is pronounced like ad-vans.The stress is on the second syllable.
Am I responsible for my spouse's credit card debt if I am not an authorized user?
Absolutely not ! If the card is not i your name - you have no legal responsibility for any outstanding balance. HOWEVER - IF you are named on the account as a joint card-holder - you're legally responsible for fifty percent of the balance, regardless of who ran up the debt. Additionally, if you have a second card on the same account - YOU are liable for the expenses occurred on your and the account-holder is also liable for fifty percent of the balance.
How are mass and second related?
Balance, second and mass arent all directly related, balance, as maybe in a weight balance and mass, both due with volume weight, etc. Hope this helped !
Are second and mass related?
Balance, second and mass arent all directly related, balance, as maybe in a weight balance and mass, both due with volume weight, etc. Hope this helped !
Is debate accented on the first or second syllable?
The word balance is a unstressed first syllable.
What percent is 1 second to 1 minute?
percent of 1 second to 1 minute = 1/60
Are balance and second related?
Balance, second and mass arent all directly related, balance, as maybe in a weight balance and mass, both due with volume weight, etc. Hope this helped !
What is the unstressed syllable in the word balance?
The second syllable.
