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A high APR, or annual percentage rate, means that you will pay more in interest on a loan or credit card. It indicates the cost of borrowing money and is expressed as a percentage of the total amount borrowed. A high APR means you will have higher monthly payments and end up paying more over time compared to a lower APR.
What else can I help you with?
Is a higher APR better for loans and credit cards?
No, a higher APR is not better for loans and credit cards. A lower APR means you will pay less in interest over time, saving you money.
Does it help your credit to have credit cards from department stores?
One of the factors that makes up your credit score is credit diversification. This means having a variety of different types of credit. Four different types you can have is mortgage loans, car loans, credit cards, and department store cards. So having a department store card that reports to the credit bureaus will help your credit.
Can you explain what APR is and what it means in relation to loans and credit cards?
APR stands for Annual Percentage Rate. It represents the total cost of borrowing money, including interest and fees, expressed as a yearly percentage. For loans and credit cards, a lower APR means lower overall costs for borrowing money, while a higher APR means higher costs. It helps consumers compare different loan and credit card offers to find the most cost-effective option.
Can you explain what an APR means in relation to loans and credit cards?
APR stands for Annual Percentage Rate, which represents the cost of borrowing money on a yearly basis. It includes the interest rate and any additional fees associated with the loan or credit card. A higher APR means you will pay more in interest over time.
Is a higher APR good or bad for my financial situation?
A higher APR is generally bad for your financial situation because it means you will pay more in interest on loans or credit cards.
Is a higher APR better for loans and credit cards?
No, a higher APR is not better for loans and credit cards. A lower APR means you will pay less in interest over time, saving you money.
Does it help your credit to have credit cards from department stores?
One of the factors that makes up your credit score is credit diversification. This means having a variety of different types of credit. Four different types you can have is mortgage loans, car loans, credit cards, and department store cards. So having a department store card that reports to the credit bureaus will help your credit.
Can you explain what APR is and what it means in relation to loans and credit cards?
APR stands for Annual Percentage Rate. It represents the total cost of borrowing money, including interest and fees, expressed as a yearly percentage. For loans and credit cards, a lower APR means lower overall costs for borrowing money, while a higher APR means higher costs. It helps consumers compare different loan and credit card offers to find the most cost-effective option.
Can you explain what an APR means in relation to loans and credit cards?
APR stands for Annual Percentage Rate, which represents the cost of borrowing money on a yearly basis. It includes the interest rate and any additional fees associated with the loan or credit card. A higher APR means you will pay more in interest over time.
Will you be subjected to a means test when filing chapter 7 if your only debt is business-related credit cards and loans resulting from a dissolved partnership?
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Where can I get a bad credit loan?
The best way is through credit unions or peer to peer loans. Do not use payday loans or switching the debt between credit cards this will cost you more money.
Is a higher APR good or bad for my financial situation?
A higher APR is generally bad for your financial situation because it means you will pay more in interest on loans or credit cards.
What are guaranteed unsecured loans?
Guaranteed unsecured loans are loans which are given to people regardless of their credit rating. The term unsecured loan means that it is not based upon a line of credit or assets of the recipient.
How do credit unions compare to banks?
Generally speaking, Credit Unions have lower interest rates on loans and credit cards, and higher interest rates on deposits (Savings, CDs, etc) compared to Banks. On the down side, they are usually small, which means less branches, less ATMs.
What does financed mean?
Finance means the system of money , loans , or credit , investment.
What exactly are 0 credit cards?
0 credit cards have no annual percentage rate, which means that you don't get charged anything yearly for having the credit card. They are usually for people with really great credit.
What are some perks of owning a credit cards?
That means that you are responsible enough to have a credit card. And you can buy things!!
