Credit and Debit Cards
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What is the minimum amount of interest that can be charged for the purchase of a House?
What is simple interest and compound interest?
Compound interest is when interest is charged on the principal plus the interest. An example is a credit card debt. If you carry a balance from month to month you are charged interest on the total amount owed including the interest from previous months. Simple interest is calculated on the amount borrowed over a fixed amount of time and does not charge interest on the interest.
Asked in Credit and Debit Cards, Credit
Can merchants place a minimum amount on credit card purchases?
A merchant can & will require a minimum purchase amount in some cases. The credit card company charges the merchant for each transaction. If a purchase does not exceed the amount they are being charged from the cc company, they can decline to process your card. Most merchants have a sign explaining their policy.
Asked in Loans
What is the best way to pay off my car loan early?
Is simple or compound interest faster?
Asked in Banking
At a bank to receive interest is a minimum balance required?
If a judgment creditor over charged you on a writ of garnishment increasing the interest and the amount to be garnished can the judgment be vacated?
Asked in Mathematical Analysis
What is a simple interest in math?
Simple interest is interest that is calculated only on the amount of unpaid principal on a loan. Such interest is not added to the value of the loan but is tracked separately. Compound interest is interest that is calculated on the total of unpaid principal and accumulated interest on a loan. The difference is in simple interest there is no interest charged on accumulated interest while in compound interest there is interest charged on accumulated interest.
Asked in Personal Finance, Loans, Money Management
Why is more interest charged at the beginning of a loan?
I financed a vehicle for one amount now my first payment is due and the payoff amount is higher than the borrowed amount. Is that correct or legal?
What is the annual percentage rate APR on a credit card?
What is the maximum amount of interest can be charged for the purchase of a car?
Why is it unwise to pay minimum credit on your credit card?
Paying only the minimum due on your credit card balance maximizes the amount of interest you will pay to the credit card company. This is why it is better to pay as much of your balance as you can each billing cycle - it saves you money by reducing the amount of interest you pay. Also, depending on the terms of your credit card agreement, paying the minimum can actually make your principal balance increase. The minimum payment may not cover the amount of interest due.
What is the minimum amount of income that requires a 1099 to be filed in 2009?
How do credit card payments work?
When you use a credit card to purchase something, you are making yourself a loan through the credit card company. You have to pay the company back for this loan at the terms you have agreed to when you signed the application for the card. If you make a payment in full when you receive your monthly bill, there will be no additional amount due, no interest, and usually no handling fee. When you make a partial payment, whether it is the minimum due, or a larger amount, the company will charge interest, and perhaps a monthly fee, which will be added to the next monthly bill. As long as the amount you pay is less than the amount due, you will continue to be charged interest every month, based on the balance remaining. If you pay the entire amount due at the end of the month, there will be no new interest charges. There might be a small amount of interest on the previous balance. Often, if you call the company and point out that you paid the previous bill in full, they might waive the final interest due.
Asked in Loans
What is the standard amount of interest charged on an auto loan?
Asked in Banking
What does a bank charge you when you borrow money from it?
Do You will have to pay interest on credit card debt as long as you pay the minimum amount due on time each month.?
Asked in Credit and Debit Cards
What is minimum balance?
The minimum amount a bank or other financial institution requires a customer to maintain in his or her account. The institution can set a minimum balance level for any of its accounts, and this amount will vary by institution. Usually, if the required minimum balance is not maintained, the customer is charged various fees for failing to meet the requirements.