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credit cards
Payday loans... the borrower is expected to repay the whole debt before their next pay-day.
You'd need to check with the credit card company; they are all different. The grace period is some period of time in which you can pay the balance due without accruing interest charges. However, there's typically NO "grace period" on a payment. If you don't have a payment posted on time, you're almost always going to be charged a late payment fee, and often your card's interest rate will be jacked up to the "penalty rate" of 29%.
Yes you can. If you have the funds available, you can pay off the whole balance before the 'dues date' - and accrue no interest or charges.
Yes, a higher down payment is typically needed to get a mortgage with bad credit. A down payment of 25% or more will help to get a lower interest rate.
credit cards
credit cards
Payday loans... the borrower is expected to repay the whole debt before their next pay-day.
You'd need to check with the credit card company; they are all different. The grace period is some period of time in which you can pay the balance due without accruing interest charges. However, there's typically NO "grace period" on a payment. If you don't have a payment posted on time, you're almost always going to be charged a late payment fee, and often your card's interest rate will be jacked up to the "penalty rate" of 29%.
No. But what will be charged on a late fee, will be reflected on something known as your your finance charges. Finance charges will go up if you are late making a payment on your credit card.
Having a high interest rate greatly affects the account it belongs to. It will add up to high finance charges which will increase the balance, increase the monthly payment, and lower the amount of the payment that applies to the principle.
Yes you can. If you have the funds available, you can pay off the whole balance before the 'dues date' - and accrue no interest or charges.
Highest payment is 195e if you get a raise from your employer. When you look for a job, the highest payment is 150e.
Yes, a higher down payment is typically needed to get a mortgage with bad credit. A down payment of 25% or more will help to get a lower interest rate.
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.
Charging interest is the method by which a lender profits from loaning money to a borrower. The lender will set the terms of any loan to their advantage. They obviously want to get paid first and get paid the most. The balance of a loan is typically higher at the beginning of a loan, and interest will be charged on the balance. So as a person makes payments on the loan typically he/she will be making a payment consisting of part interest and part principal. As the person pays down the loan the interest that is calculated at the compounding period will be less because the principal amount has been reduced. For example, a person has a $1000 payment, at the beginning of the loan the payment may be broken down as ($900 interest and $100 principal), on the last payment of the loan the payment of $1000 may look like ($950 principal and $50 interest).
It means that you have to have settled the bill within 30 days or interest charges will be applied and legal action taken.