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What is the range of interest rates credit card issuers charge and what are the late payment fees?
Wiki User
∙ 19y ago
The interest rates vary depending on your personal credit history. You can get anything from a fixed 9% or 10% to 27+% variable (yes, in some cases they can charge that much). Late fees vary also and can cost you a bundle. Most credit cards are between $25 and $35. You need to "shop around" for the best bargain and read the contract carefully and completely, before you sign.
Wiki User
∙ 19y ago
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What interest rate does Discovercard charge?
Interest rates for Discover Card varies depending on multiple factors. These factors include credit score and payment history.
What are some types of fees that the credit card company might charge?
Common ones are - monthly interest, and late payment fees.
Why was a widow's charge card credit limit decreased when she paid off her deceased husband's charge card?
It is unlikely that the limit was lowered because of the pay off. Many card issuers are pulling limits back regardless of payment history or credit history. My suggestion would be to contact the card company and ask for an explanation of the reduction.
What is a sub prime credit card?
A sub prime credit card usually has higher interest rates and a lower credit limit than a regular card, but they can be used by borrowers with a lower credit score. Most major issuers issue them, but some smaller issuers also specialize in sub prime lending.
What is the difference between credit cards and charge cards?
Most people think credit card and charge card are the same thing. This is not entirely correct. The difference is that the charge card is a special kind of credit card that you have to pay the entire balance off each time you receive a bill. You cannot make a partial payment, and there is no interest involved. With a credit card, you can treat it like a loan to yourself. You can make a partial payment when the statement comes in, and then pay interest on the balance each month until it is paid in full. Some people just keep making partial payments and pay interest on credit cards for years and years.
What interest rate does Discovercard charge?
Interest rates for Discover Card varies depending on multiple factors. These factors include credit score and payment history.
What are some types of fees that the credit card company might charge?
Common ones are - monthly interest, and late payment fees.
Why was a widow's charge card credit limit decreased when she paid off her deceased husband's charge card?
It is unlikely that the limit was lowered because of the pay off. Many card issuers are pulling limits back regardless of payment history or credit history. My suggestion would be to contact the card company and ask for an explanation of the reduction.
What is a sub prime credit card?
A sub prime credit card usually has higher interest rates and a lower credit limit than a regular card, but they can be used by borrowers with a lower credit score. Most major issuers issue them, but some smaller issuers also specialize in sub prime lending.
Are target interest rates good?
Amazon offers a credit card with standard interest of 25.99%. It also charges a minimum interest of $1.50. Target offers a credit card a with 25.24% interest rate. In addition, Target will not charge interest if the balance is paid off in full by the payment due date.
What is the difference between credit cards and charge cards?
Most people think credit card and charge card are the same thing. This is not entirely correct. The difference is that the charge card is a special kind of credit card that you have to pay the entire balance off each time you receive a bill. You cannot make a partial payment, and there is no interest involved. With a credit card, you can treat it like a loan to yourself. You can make a partial payment when the statement comes in, and then pay interest on the balance each month until it is paid in full. Some people just keep making partial payments and pay interest on credit cards for years and years.
What is the minimum payment due on a credit card with a 50000 balance?
Most credit card issuers have moved to a monthly minimum payment due of 4% of the outstanding balance. For a $50,000 balance this would equate to $2,000. Some issuers only require 2% or 3% minimum payments, which would equate to $1,000 or $1,500, respectively. You would need to check with your credit card issuer to determine their particular minimum payment requirements. Check out CreditCards.com/calculators.php to look at different scenarios.
What is credit card interest?
Credit Card Interest is basically the way credit card companies make money. They charge you interest for borrowing their money. But usually if you pay your bills on time and don't have any fees, they won't charge you any interest.
How do you go about trying to get your credit card percentage rate down?
There are 2 ways to do this on your own: # Pay substantially more than the minimum payment each month for several months, and then request a lower rate. # Some card issuers will automatically reduce your interest rate slightly if your credit score improves substantially or if you aggressively repay the balance on that credit card.
Does a credit card issuer have to pay the card holder interest on an account that has a positive credit amount?
The consumer will earn interest on the account, but may be "rewarded" with cash rebates (usually quite small) and other such perks. Credit card issuers to not have to pay card holders interest on such accounts, it would be contrary to the purpose of issuing credit in the first place.
Payment method charges the highest interest rates?
credit cards
Which payment method charges the highest interest rate?
credit cards
