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Any credit card is a loan. The disadvantages of taking out this type of loan include high interest rates and fees on balances, annual fees applied to most credit card loans, and a high rate of interest on cash.

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What are some common forms of credit?

Five common forms of credit are credit card loans, auto loans, mortgage loans, installment loans, and home-equity loans.


What are the advantages and disadvantages of credit card?

The advantages of a credit card is you can buy things that you don't have the money to buy. The disadvantages of a credit card is that you have to pay it off with interest in the future.


Can student credit cards be used to repay loans?

Whether or not a you can repay loans with a credit card depnds on the policies of you debtors. You can pay some student loans with a credit card, if you are in default. However private lenders are under no obligation to accept credit card payments.


Are there other options for people with poor credit other than personal loans?

There are many options for those with poor credit histories other than personal loans. These include taking a payday loan, using a credit card and using an overdraft facility.


What are the advantages and disadvantages of using a Credit Card Cash Advance?

Some advantages of using a credit card cash advance are summarized as follows: * Cash credit lines are relatively generous and one may be able to get more cash from a credit card line than they would otherwise be able to * Credit card cash advances may be taken from ATMs or banks around the world - there are few limits on where one might obtain a cash advance * The costs for taking a credit card cash advance are significantly lower than those associated with auto title loans and payday loans Some disadvantages of using a credit card cash advance are summarized as follows: * You will need to have set a PIN in advance; otherwise, you will discover that the transaction cannot be completed * The costs are still steep for credit card cash advances - up to 5% of the transaction and immediate finance charges of up to 28% * The issuer will reduce (or completely close) your credit line if you are not an established customer

Related Questions

What are some common forms of credit?

Five common forms of credit are credit card loans, auto loans, mortgage loans, installment loans, and home-equity loans.


What are the advantages and disadvantages of credit card?

The advantages of a credit card is you can buy things that you don't have the money to buy. The disadvantages of a credit card is that you have to pay it off with interest in the future.


Can student credit cards be used to repay loans?

Whether or not a you can repay loans with a credit card depnds on the policies of you debtors. You can pay some student loans with a credit card, if you are in default. However private lenders are under no obligation to accept credit card payments.


What are the advantages and disadvantages of card?

The advantages of a credit card is you can buy things that you don't have the money to buy. The disadvantages of a credit card is that you have to pay it off with interest in the future.


What are the types of credits?

Charge accounts, credit card, consumer loans, mortgage loans, and installment sales credit.


Are there other options for people with poor credit other than personal loans?

There are many options for those with poor credit histories other than personal loans. These include taking a payday loan, using a credit card and using an overdraft facility.


Is credit card and debit card considered as a cash?

No, credit cards are loans and debit cards are checks.


Do the advantages of credit outweight the disadvantages of credit?

With the rampant credit card theft, its disadvantages are becoming more than its advantages.


What are the advantages and disadvantages of using a Credit Card Cash Advance?

Some advantages of using a credit card cash advance are summarized as follows: * Cash credit lines are relatively generous and one may be able to get more cash from a credit card line than they would otherwise be able to * Credit card cash advances may be taken from ATMs or banks around the world - there are few limits on where one might obtain a cash advance * The costs for taking a credit card cash advance are significantly lower than those associated with auto title loans and payday loans Some disadvantages of using a credit card cash advance are summarized as follows: * You will need to have set a PIN in advance; otherwise, you will discover that the transaction cannot be completed * The costs are still steep for credit card cash advances - up to 5% of the transaction and immediate finance charges of up to 28% * The issuer will reduce (or completely close) your credit line if you are not an established customer


Where can someone fill out an online credit card application for bad credit?

One can fill out an online credit card application for bad credit at DKB Germany website, Credit Net website and Loans for Poor Credit. Other good places are Barclay Card and Personal Loans for Bad Credit.


Is it good to pay auto loans with your credit card?

No.


What type of loans are offered by GE finanace?

GE finance give out credit card loans, equipment loans for businesses and can also consolidate your credit.