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What is it called when you have to pay off the balance before the bank starts charging interest?
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Can you pay your credit card bill by another credit card?
Yes you can pay your credit card bill by another credit card. It is called balance transfers, you can transfer the balance of another credit card that has a high interest to a credit card that has a low interest. Hopefully this answers your question.
Where can one get information on credit cards with 0 interest rate balance transfer options?
A website called 'credit card red flag deals' compares credit card that have a 0 interest balance transfer, some of them include cards like MasterCard Capital one and CAA Quebec MasterCard.
What is it called when a borrower receives a refund after paying his note?
When a loan is paid off, the mortgage company gives an estimated payoff amount. This is based on a specific date. If the payoff date is before that date, the interest amount will be less than estimated. The excess payment results in a refund called an ESCROW BALANCE REFUND.
What is the fee you must pay each month on your credit card is called?
It's either accrued interest (on your outstanding balance) - or a service charge for using the card.
Can a credit card company charge interest on interest?
No. A credit company can not charge you interest on top of interest. With that said if you have a balance of $1000 and the company charges you $20 interest for that month. Next month a new balance is created $1020 then the company can charge you interest on $1020.00 if you fail to pay the $20 interest at the minimum. Interest is a finance charge and so long it does go over 59.9 per cent it is legal even on closed accounts. This is called accrued interest. If your account is closed due to unforseen of financial circumstances contact the credit and work out a payment arrangement and request interest to be stop. Many creditors will do so if the amount is paid in a timely manner usual 6-9 months. Otherwise consumer proposal is an option.
Can you charge interest on interest in the sate of MA Someone is sending me a bill with an interest charge on it and now theyre charging interest on the interest Is this possible or even legal?
no, its called usury and its illegal
Overcharge of interest what is call what is the legal name for it?
Charging an excessive amount of interest is called usury, and it is banned by federal law, and by laws adopted by most States. Excessive interest rates are called "usurious."
The action of adding accrued interest to the principal balance is called?
capitalization. Capitalization is when all unpaid interest is added to the principal balance of your loan. Capitalization increases your total amount to be repaid because you will then have to pay interest on the increased principal amount.
Why do principle and interest varies over time?
The answer is called amortization. In a typical loan payment, interest is calculated based on the outstanding principle balance. When the periodic payment remains constant the amount of that payment allocated to interest declines as the principle balance is reduced.
What is a sentence with the word usury in it?
"In Canada, charging an effective annual interest rate in excess of 60% is considered usury, which is sometimes called loansharking."
What interest applies when interest for each year is based on the amount of the loan or investment?
When each interest calculation uses the initial amount, this is called Simple Interest. The other type is Compound Interest, which uses the current balance as the basis for interest calculation.
What is a type of checking account that also earns interest these accounts generally have a minimum balance?
A type of checking account that also earns interest is called an interest-bearing checking account. These accounts typically require a minimum balance to be maintained in order to earn interest.
When Charging a neutral object by touching it with a charged rod is called?
It's called charging by conduction.
If you do a voluntary repo and the dealership sells your car do they have any right to collect interest?
The contract called for interest as long as you had the car. IF they get a judgment for the balance owed on the contract, it will call for interest until it is paid. READ your paperwork.
What is the expansion of PBDIT?
PBDIT stands for "Profit Before Depreciation Interest and Taxes" How to abbreviate "Profit Before Depreciation Interest and Taxes"? "Profit Before Depreciation Interest and Taxes" can be abbreviated as PBDIT.
Can you pay your credit card bill by another credit card?
Yes you can pay your credit card bill by another credit card. It is called balance transfers, you can transfer the balance of another credit card that has a high interest to a credit card that has a low interest. Hopefully this answers your question.
What is it called if you bump in to your opponent in netball?
It is called contact
