0
You are charged an annual intrest rate for example 18%. Intrest is calculated by the day. For example if you want to know how much a company is charging you per day for a balance all that you need to do is take the intrest rate that is being charged divide that by 365 ( days in a year) and then multiply that by the amount of your balance. For example your balance is $1000.00 your intrest rate is 18% 18%/365=0.0004931 0.0004931 x 1000.00=$.049 in this example you are being charged $.49 per day wich would equal about $180.00 per year for a $1000.00 balance. But keep in mind that the credit card companies are going to chare you intrest on the intrest that accrues so you would end up paying more than the $180.00 per year
Add your answer:
Earn +20 pts
Where can one get credit cards for good credit interest rates?
Some credit cards that offer good interest rates are Visa and Mastercard. Your credit rate varies on the services your card provides. You will have to shop around to determine what interest rate and services work best for your individualized needs.
What is unique about a Delta credit card?
There are many unique things about a Delta Credit Card. They have a very low interest rate. They also work with you on payment plans. They also give you a break if you have bad credit.
How does the consolidation of credit card debts work?
Credit card consolidation works by putting all the debts from your credit card into one debt. This makes it easier to keep track of your debts and can often give a lower interest rate than having different debts for different cards.
What are the advantages of having a NatWest credit card?
There are a number of advantages of having a NatWest credit card. One of the advantages is the balance transfer option which allows one to transfer higher interest credit cards for a lower interest rate. NatWest will also work with clients if they have troubles making payments and will try to work out a method that is suitable to both the bank and the client.
How does credit card balance transfer in an office work?
Credit card balance transfers are essentially when a credit card holder starts a new credit card to pay off whatever debts and charges the owner may have on the old credit card. The charges from the old credit card get transferred to the new credit card and a grace period occurs which is basically a lower interest rate at the beginning of the transfer. It is safe but only if the person makes sure to read the details the new credit card company has regarding the transfer.
Why would JCPenney raise their credit card interest rate at a time the Fed is cutting the discount rate on a customer who has superior credit?
i work for jcp....and because we can :-)
Where can one get credit cards for good credit interest rates?
Some credit cards that offer good interest rates are Visa and Mastercard. Your credit rate varies on the services your card provides. You will have to shop around to determine what interest rate and services work best for your individualized needs.
what is a good credit card company?
A good credit provider is one who does not nickel and dime you for every transaction you make on the credit card. I would work on your credit first and then try to get a card with a low interest rate and no fee to activate it.
What is unique about a Delta credit card?
There are many unique things about a Delta Credit Card. They have a very low interest rate. They also work with you on payment plans. They also give you a break if you have bad credit.
How does the consolidation of credit card debts work?
Credit card consolidation works by putting all the debts from your credit card into one debt. This makes it easier to keep track of your debts and can often give a lower interest rate than having different debts for different cards.
What are the advantages of having a NatWest credit card?
There are a number of advantages of having a NatWest credit card. One of the advantages is the balance transfer option which allows one to transfer higher interest credit cards for a lower interest rate. NatWest will also work with clients if they have troubles making payments and will try to work out a method that is suitable to both the bank and the client.
Steve was charged sixty dollars interest for one month on a three thousand dollar credit card balance what was the monthly interest rate show your work?
60 divided by 3,000 = 2 %
How does credit card balance transfer in an office work?
Credit card balance transfers are essentially when a credit card holder starts a new credit card to pay off whatever debts and charges the owner may have on the old credit card. The charges from the old credit card get transferred to the new credit card and a grace period occurs which is basically a lower interest rate at the beginning of the transfer. It is safe but only if the person makes sure to read the details the new credit card company has regarding the transfer.
Can you pay your credit card bill with another credit card?
Yes but why would you do that you are just getting yourself deeper and deeper in debt - really not a good idea. Although it might work as a form of debt consolidation - if you owe on multiple things with different rates of interest, then it would be better for you if you could pay all of it off, using a credit card with a lower overall rate of interest. You'd owe the same, but be paying less interest, and only be dealing with one source.
Request to stop interest rate charge to your credit card?
Before the credit card companies were able to increase the rates with or with out notification, but now they have to notify if any increase rate or annual fee, within 45 days notification. When this happen, a simple call to the credit card companies to opt out from the fees or increase of the APR will work. Check what are the cons with the credit card companies, since they can rise the minimum payment or make it harder to pay, also read their notices for any restrictions or considerations
How does credit card reduction work?
Credit card consolidation or reduction occurs when someone consolidates the amount owed on their credit card to make one payment. This eliminates the amount of interest is paid and can reduce ones debt quicker.
How do you come out of your credit card debt?
Most credit card statements will show you how long it will take to pay off your credit card debt based on your minimum payment and interest rate. You can avoid debt settlement and debt consolidation with credit card negotiation. My Plastic Wallet specializes in credit card negotiation. No up front charges and their work is backed by a 100% money back guarantee if they can not help you pay off your debt at least 3 times faster. http://www.myplasticwallet.com
