What You May Not Know About Your Credit Card’s Interest Rate

Credit Cards

What You May Not Know About Your Credit Card’s Interest Rate

What You May Not Know About Your Credit Card’s Interest Rate

Credit cards can appear to be simple financial instruments, but behind the plastic can lie an intricate arrangement of terms, conditions, rates and fees. And for those who carry balances, it’s important to know how much you will have to pay in interest. When researching these costs, cardholders are often confused by the terms “interest rates “and “APR.” An… Read More

Legislators Propose Interest Rate Cap, But Will It Work?

Personal Loans

Legislators Propose Interest Rate Cap, But Will It Work?

Legislators Propose Interest Rate Cap, But Will It Work?

Congress is taking aim at high-rate, short-term lenders in the U.S. Representatives Matt Cartwright and Steve Cohn are joining forces with Senators Dick Durbin, Barbara Boxer, Richard Blumenthal, Jeff Merkley and Sheldon Whitehouse to establish a national usury limit for consumer credit transactions. Their targets are banks and finance companies that market payday- and account-advance… Read More

8 Key Facts About Your Mortgage APR

Mortgages

8 Key Facts About Your Mortgage APR

8 Key Facts About Your Mortgage APR

Securing a mortgage today requires careful consideration of all the figures associated with the transaction. The biggest figures most homebuyers pay attention to include loan amount, interest rate, closing costs and the one most benign to consumers, the annual percentage rate (APR for short), which is a disclosure item required in loan advertisements and loan… Read More

The 11 Most Commonly Asked Credit Questions

Credit 101

The 11 Most Commonly Asked Credit Questions

The 11 Most Commonly Asked Credit Questions

At Credit.com, our readers ask us questions every day on every kind of credit problem you can imagine.  While everyone has their own unique concerns, there are also many universal issues out there.  So we rounded up 11 of the more common questions asked and we answer them right here for you. 1. How can… Read More

19 Confusing Mortgage Terms Deciphered

Mortgages

19 Confusing Mortgage Terms Deciphered

19 Confusing Mortgage Terms Deciphered

If you have ever tried to get or refinance a mortgage, you may have felt like you were in a foreign language class: some of the words seem familiar but you aren’t sure you know exactly what they mean. PMI, APR, escrow, jumbo … and on and on. Here we decipher some of the most… Read More

Why You Shouldn’t Obsess Over Mortgage Rates

Mortgages

Why You Shouldn’t Obsess Over Mortgage Rates

Why You Shouldn’t Obsess Over Mortgage Rates

When most people start shopping for a mortgage, the first thing they do is look for the lowest interest rate they can find. And that can get them into trouble. A low interest rate can save you money, obviously. But it’s only part of the story. If you’re not careful, you could easily end up… Read More

Did Your Credit Card APR Change? Don’t Freak Out

Credit Cards

Did Your Credit Card APR Change? Don’t Freak Out

Did Your Credit Card APR Change? Don’t Freak Out

The message on the notice from her credit card company read, “We are pleased to tell you that we have lowered the following Annual Percentage Rates (APRs) on your account. Purchases: Prime + 11.74%, currently 14.99%V.” Immediately, my colleague who received the notice assumed her card issuer was trying to pull a fast one on… Read More

What is My APR, Really?

Credit 101

What is My APR, Really?

What is My APR, Really?

When it comes to credit, sometimes even the simplest notes we receive from credit card companies can seem confusing. One Credit.com reader experienced this confusion recently, right after she got approved for her new credit card. Her approval letter contained a puzzling message at the top. “So what does ‘Your APR will be Prime Plus… Read More

Lenders Pushing No-Frills Cards With Low Rates

Credit Cards

Lenders Pushing No-Frills Cards With Low Rates

Lenders Pushing No-Frills Cards With Low Rates

In recent months, lenders have begun hard pushes to attract both borrowers with low and high credit score by aggressively marketing cardsthat will fit their financial needs. Now, they’re once again pushing cards to those in the middle as well. The number of offers specifically targeted to affluent borrowers, mostly for high-quality rewards cards, or… Read More

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