Interest Rates

Posts Tagged ‘interest rates’

What is the best credit card for 1st time users? I need it to shop online-generally (personal reasons).?

I am 19 years old and I really need to begin establishing my credit. I have read about what to look for in a credit card and what to watch out for, such as: no (hidden, setup, annual, etc) fees, no minimum balance, 0% to good interest rates, etc.

and to look for good reward programs if I’ll be using it often (which would be yes because I hate shopping at stores, isn’t it tedious?), online payment options etc.

The problem is that many of these great benefits that you should look for, truly, are offered and exclusive to people with good credit, it seems. I have no credit whatsoever and it seems as if there are Capital One’s in every corner of my town. I know it’s popular amongst 1st time users and I’m trying to open a savings/checking account and getting a credit/debit card. Any suggestions for the best credit card? name of it? or bank?

I have been seriously considering Charles Schwab’s checking account because it seems fantastic! is Charles Schwab’s, generally, a good bank?

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What is the best credit card for me?

If I am 19, have never had a credit card before, have never been in debt, don’t really have a credit record (I presume), am planning to pay off my balance every month, and am planning to use it for online purchases?
How can I compare interest rates, etc? What are some good questions to ask when getting a credit card?

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Is it a wise decision to consolidate credit card debt with a personal loan?

I recently graduated college and was unemployed for several months afterward. My savings, etc, quickly ran dry, and I began carrying a credit card balance to live. I’ve begun working (finally), but my credit card balance is quite high now. The interest rates on my two cards range from 11.9% to 16.9%.

I’ve just finished paying for my car, so I now own it outright. The resale value is fairly high. I think I can get a personal loan through my bank to pay off my credit cards, especially if I use my car as collateral, at a rate of 8.9%.

I’m sure these compound differently, but I just don’t know enough about it to compare the costs. So, three questions:

1 – Would it save me money (in interest) to pay off the higher interest credit card balances with a personal loan through my bank?

2 – Is it wise to use my car as collateral?

3 – Does a personal loan "look better" on a credit report, compared to credit cards with high balances?

Thanks in advance!

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Should I pay down my credit card or auto loan first?

Believe it or not the interest on my auto loan is higher than my credit card. (~12% for auto loan compared to ~10% on credit card). I owe approximately 00 on each. Common sense would say to pay on the higher interest first. However, are there other factors I should consider such as how often the interest is compounded?
Both interest rates are fixed. Sorry forgot to add that.

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I have 4 credit cards equaling $15000 and my credit isn't the best. What is the best way to consildate?

I have tried to go with other credit cards with 0% APR or lower interest rates on balance transfers, but with my credit rating, I cant get accepted with a high enough balance. I make decent enough money to keep paying these, but Im getting married in a month and I need to start lowering my bills. I just want all of these on one bill or one card with lower interest. Where do I go to get this worked out? Thank you for the help!

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I have 4 credit cards equaling $15000 and my credit isn't the best. What is the best way to consildate?

I have tried to go with other credit cards with 0% APR or lower interest rates on balance transfers, but with my credit rating, I cant get accepted with a high enough balance. I make decent enough money to keep paying these, but Im getting married in a month and I need to start lowering my bills. I just want all of these on one bill or one card with lower interest. Where do I go to get this worked out? Thank you for the help!

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Are there any credit cards with 3% cashback or credit towards statement? (Besides first 6 month promotions)?

Or any credit cards with 2% cashback on all purchases?

Discover Open Road Credit card is going from 5% cashback on your first 100 dollars of gas to 2% on your first 250 dollars of gas. Unfortunately, I do not spend that much on gas a month. Discover also has 1% on all other purchases, which is pretty basic compared to other credit cards. Is there a better deal?

PLEASE note:This question is not looking for answers like "The best credit card to have is no credit card". If you pay your statement in full each period… you do not even have to worry about interest rates. Thank you in advanced

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credit card with 0% apr?

I am looking to swtich to a new credit card and would like a 0% apr for a year and if possible one that offers points and rewards like the citi cards do. I dont want a citi card because that is what Im wanting to transfer from since they are about to raise their interest rates extremely high. does anyone know if a good card with these perks?

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Is transferring the balance of my credit card to a 0% APR card going to hurt my credit?

I have tried asking this in different ways, but I think it would be best if I just lay it all out there, and hope that it helps.

As of now, the balance on my credit card is ,077.85. The limit on this card is ,300. I do not plan on using the card any further. I got custody of my young brother last year, and this card was mainly used for Christmas, as our fund were low (I know, bad idea). Since I realize now that it wasn’t the way to go, I’m trying my best to fix it. I have, and continue to pay my card on time, way more than the minimum payment. In the past year and a half I have only made one late payment, by three days. I know that it is still a late payment, and will still reflect on my credibility.

However, I am having one awful time with customer service on this card. It took me months to get them to remove some type of payment protector I never asked for. Each time I call they feed me a line, and in the end, my questions are never answered. I’m tired of it, and would like to move on.

My father in law asked me if I had thought about transferring the balance on my card to a new one with 0% APR for 12 months, and a low to none transfer fee. In fact I have, but I wouldn’t know where to start. Keep in mind that this is my first and only credit card.

I don’t plan on cancelling the card, but rather it will not be used. I want this balance paid off in the easiest way possible, but honestly the interest rate on my card is killing me – 19.99%. I know I have myself in a hole, but I have seen worse. I don’t want to get to that point – where I can’t pay it at all.

When/if I transfer my balance to a new card, which company charges me for transfer fees, if any? Is transferring the balance going to be hard on my credit score? If it is, how long might it take to repair it?

Thanks so much for any advice.
Please bear in mind that when I applied for this card I was not educated in things such as interest rates and such….which is why my card isn’t all that great. And yes – that interest rate is before this missed payment (they haven’t hiked it up).
Thank you SO much everyone! I kept reading responses to other questions saying that it would hurt your credit to do this, and that I shouldn’t even consider it. I don’t plan on using either card anytime soon, as I really do not need them now anyway. Like I said before, the issues I’ve had were of my own doing, because I was not educated well in this area.

I understand it much better now though, and I greatly appreciate all your help!

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What is better…credit card with lower interest rate and annual fee, or higher rate and no annual fee?

I’m considering breaking down and finally getting a credit card…obviously if you pay the balance each month interest rates don’t matter, but there is always that one or two times where you get hit. So again, in your opinion what is better a card with a low interest rate and like a annual fee, or zero annual fee but an increased interest rate?

Thanks!