 |
|
|
|
Information on mortgages, home equity loans, and consumer credit to help you use the power of financing to your advantage.
|
|
|
|
|
Untitled Page
|
|
|
Untitled Page
|
|
|
|
Credit Cards > Lowest Interest
What do personal bankruptcies have to do with bank card interest rates?
In an attempt to reduce credit card losses, several major banks are now tying bank card interest rates to the credit records of applicants.
This means that if you have a sterling record, you'll get a better rate than if you've missed a few payments or bounced checks in the past.
Banks are getting tough because delinquent payments and bankruptcies are reaching record highs. In order to stem the losses, banks are now using your credit history to determine the amount of interest you'll be charged on your bank card, particularly important if you carry a balance from month to month.
One major problem with this system is that it makes it difficult if you are trying to shop for a card with the lowest possible interest rate since you won't know what rate you're getting until the application has been processed.
The best deal is a credit card that's available without an annual fee; or, if you carry a fee, a card that offers low interest rates.
The tips on this website should be considered food for thought only. Lendingtips.com is a clearinghouse of ideas, not a professional adviser. Before any important decision, please consult the appropriate professionals (lawyer, accountant, real estate agency, broker etc.).
|
|
 |
• Credit Cards > Lowest Interest Credit Card Articles Archive
• Credit card payoff Use this calculator to see what it will take to payoff your credit card balance, and what you can change to meet your repayment goals.
|
|
|
|
| ©2005 Lendingtips.com All rights reserved. |
|
|
Lendingtips.com 464 Oak Avenue Naples, FL 34108
Phone (239)877-7835 Fax (239)594-5686
|
|
|
|
|
