0
The highest interest rates charged for consumer credit are the Pay Day loans, which if rolled over can end up at a 400% interest rate. Pay Day loans are outlawed in some states such as North Carolina. The next highest are the Rent to Own store plans which often end up doubling the cost of an item through the accumulated interest charges.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Of the available sources of the consumer credit which tends to have the highest interest rate?
Many types of consumer credit are available which have high interest rates. The ones which tend to have the highest interest rates are what are known as payday and title loans.
Which payment method charges the highest interest rate?
credit cards
Is it better to have a higher the interest rate on a credit card the better that is for the card holder?
No. Using a credit card usually involves borrowing money and you want the lowest interest rate you can get. On the other hand, when saving money you want the highest interest rate.
Effect of interest rate on consumer finance?
Effect of interest rate on consumer finance?
What is the interest rate on loan?
Interest rates are based solely on the severity of your credit. Good credit = low interest rate. Bad credit = higher interest rate.
Of the available sources of the consumer credit which tends to have the highest interest rate?
Many types of consumer credit are available which have high interest rates. The ones which tend to have the highest interest rates are what are known as payday and title loans.
Which payment method charges the highest interest rate?
credit cards
What is the highest allowable interest rate for used card in Iowa?
IOWA, the legal rate of interest is 10%. In general consumer transactions are governed at a maximum rate of 12%.
Effect of interest rate on consumer finance?
Effect of interest rate on consumer finance?
Is it better to have a higher the interest rate on a credit card the better that is for the card holder?
No. Using a credit card usually involves borrowing money and you want the lowest interest rate you can get. On the other hand, when saving money you want the highest interest rate.
What keeps business cycle going?
Investment, interest rate and credit, consumer expectations, external shock
What is the interest rate on loan?
Interest rates are based solely on the severity of your credit. Good credit = low interest rate. Bad credit = higher interest rate.
Which credit card should you focus on paying off first?
The one chaging the highest rate of interest.
What are the interest rates on credit card?
Interest Rates on credit cards, comes from banks or credit union that provides to the consumer borrowed money, this over a period of time that the money is borrowed. When the consumer has not paid back the borrowed money in the time that was agreed, then occur a calculation of the interest base on the credit of the consumer ( or card holder) and this represent the bankers profit. Interest rates can vary from 7 to 35%. This Interest Rate is an annually basis or APR and this fee is for the privilege of borrowing money
Which Canadian banks offer consumer credit consolidation?
RBC Royal Bank offers debt consolidation for consumers. A person can consolidate all of their credit card balances into a loan with a lower interest rate and save on interest rate charges.
What is an advantage of having an interest rate credit card?
The advantages of having a credit card with an interest rate is it helps build one's credit faster. The higher the interest rate of the credit card, the higher the credit score.
What type of credit cards have the highest interest rates?
In the United States many of the popular credit cards have extremely high interest rates and it varies due to a variety of factors but generally this rate varies from 6% to 12%. The interest rate of a credit card can depend on a persons credit score for example if a person has a bad credit score the interest will be considerably higher than for a person that has a good credit score.
