Help! My Credit Card APR Just Went Up

Credit Cards

Help! My Credit Card APR Just Went Up

Help! My Credit Card APR Just Went Up

Credit card issuers have to let you know at least 45 days in advance that your annual percentage rate (APR) is going to rise, thanks to a law change in 2009. But the heads up doesn’t exactly take the sting out of knowing that your credit card balances are about to get more expensive, particularly if you’re... Read More

What’s the Difference Between Your Student Loan’s Interest Rate & APR?

Students

What’s the Difference Between Your Student Loan’s Interest Rate & APR?

What’s the Difference Between Your Student Loan’s Interest Rate & APR?

When it comes to student loans, most people are curiously uncurious about the interest rate they’re being offered. It makes sense to some extent — after all, federal loans, which make up the majority of outstanding education debt, only offer one interest rate for each type of loan (e.g., 7.21% for Direct PLUS loans, regardless... Read More

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

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