 Credit Card question.? |
have a Sony Financial Services Card, (just like a MasterCard...)and I was wondering if I didn't buy anything on it for a couple of months, or years, would they charge me?
And, If you ... |
|
 Has ANYONE ever opened a bank account over the PHONE? |
| I've been wanting to try but I'm afraid that they'd reject me. Has anyone ever been turned down for a bank account and if so, why?... |
|
 Could I get a loan on a house for 11,000 down? |
| Ok if I had good credit the answer would be simple. Though I dont know my credit score exactly affraid to look lol, I know it cant be great I owe like 12,000 in doctor bills, 2,500 in past due rent, ... |
|
 Is it better to pay off a credit card in full each month or pay the minimum balance? |
| is it better to pay off a credit card in full each month or pay the minimum balance which 1 will help my credit the ... |
|
 I have terrible credit and can't even get a basic bank account but need one for when i get ajob?? |
Any suggestions is there a bank acocunt for people with adverse credit that doesnt cost anything or isn't too expensive?
Additional Details
I don't owe any money to the banks ... |
|
 What does this mean? |
Acredit card company sent me a card. The credit limit is 300.00. They charged me 178.00 for the card. So, now my limit is 122.00 What's that all about? That's crazy.
A... |
|
 What is the best way to pay off these two credit cards? |
| I have 29K in credit card debt, with 29.9% interest on both. If I get 15k cash given to me, would it be better to pay off one card or pay each one down half way? Please let me know, I'm ... |
|
 Can you really gget crimally procuted by ...? |
not being able to pay back credit cards i am on a fixed income and got overwalmed and now whats going to happend to me
Additional Details
i did tell them my income was higher than it was ... |
|
 I have really bad credit, does anyone know where i can get a credit card? |
| My empirica score is around a 520? PLease let me know if you have any ideas, I would like to rebuild my credit.... |
|
| My pay is being garnished for a student loan.Now the bank is too because of a auto loan.Is this legal? |
| I get garnished for 500.00 a month.My car was reposed and I am already being garnished for a student loan 160.00 every two weeks.Now the bank that financed the car is garnishing my 100.00 every pay ... |
|
 Credit problem....???? |
| I have no credit and I am trying to build some...I applied for some credit cards but can't seem to get any. If my boyfriend gets a credit card and puts me as a second card holder, will that help ... |
|
 How will this effect my credit? |
| Last year I had to make some emergency expenditures and racked up a few thousand in credit card debt. I have been shifting this debt from card to card to take advantage of the low initial rate on ... |
|
 I'm broke living in london help!? |
| as soon as i get paid i pay off last months debts. how can i make a fast buck. open to all suggestions, would prefer legal ones!... |
|
 Why do you have to PAY for a FREE credit report? |
| Every credit website I've been to wants me to subscribe to a monthly plan....what happened to my FREE credit report!!!!?????? How do I actually get a free report without paying....?... |
|
 I need to get a loan for college in a quicky does anyone have any ideas of how I can go about it with out? |
| I need to get a loan for college in a quicky does anyone have any ideas of how I can go about it with out a good credit, must not be federal, no co signer, and nothing that is silly. I need a ... |
|
 Is it illegal for a company to ask for your s.s.n when applying for a credit app.? |
| I work for a company that offers credit card to there customers. I had a lady tell me the other day when she wanted to apply for a credit card that it was illegal for us to ask for her social ... |
|
|  |
ryannamyl | I am about to buy a new car. Should I pay off our credit cards or use the money for a larger down payment? |
I am wondering if paying off my credit cards will help lower the interest rate that will be offered to me or will a larger downpayment be more beneficial. **Please NO solicitations**
Additional Details
Thanks for the answers! For those of you who are wondering, I MUST purchase a new car, obviously I know cash would be the no-brainer but NOT an option ( which is the case of most people). |
 |
 
♥Kazz♥
 |
I would use the money to pay off the credit cards as their interest rates are higher so you will pay more in the long run |
|
mntndo
 |
The credit cards probably have higher interest rates, so pay them off, and it may get you a better car loan rate because of low or no balances. |
|
julez
|
Yes, paying off other debt will definitely help your interest rate on the car. However, since credit card companies report to the credit bureaus only once a month, you do need to wait at least a month or two prior to getting the car loan. |
|
MB-n-KC
|
Pay off those cards!!!! |
|
Phoenix
 |
Some car company offers low interest if you finance with them. If you put down too much payment, you may not get the rate that you want. If they give you a 1.99%, they want you to finance at least 5000 or more.
Pay off your credit cards because it's definitely higher than some car loan. |
|
Expert Realtor
|
Pay off your credit cards, b/c those interest rates are much higher. |
|
Casey C
 |
If your credit score is above 720 right now, then don't worry about it.
Also, even if you have a lower credit score and you payoff your credit cards, it may not matter.
Finally, payoff your credit cards anyway and finance more in a car payment. chances are the interest rate on the car is much cheaper than what you are paying on your credit cards. |
|
Bob G
|
If it's either:
A) Buy a new car with a bigger down payment and more CC debt
or
B) Buy a new car with a smaller down payment and less CC debt
the decision is DEFINITELY to choose (B) and pay off the credit card debt. It's compounding interest probably at a rate of like 25% or higher. Even with bad credit, a new car will probably be financed at an interest rate of lower than 10%. Mathematically, it's a no-brainer.
HOWEVER, the smartest move would be to:
C) Pay off the credit cards and deal with your old car for a little while longer.
Give yourself a little time for your credit rating to improve and everything gets a lot cheaper. |
|
Amanda
 |
Your credit score would only raise if you have more then 30% of your available credit used. If you have more then 30% then paying them down to under 30% of your total available credit would raise your score. As other posters have said it will take 30 to 60 days to show on your credit. |
|
TruthSeeker
|
Only purchase as much car as you can afford to completely pay for with cash.
Pay off your credit cards and get rid of them. Debt is not your friend. Cash saved is your friend.
Never purchase a new car unless you are intentionally trying to throw away your money. During the first two years, the depreciation is the worst. Let someone else take that financial hit.
If you improve your net worth now, you will be able to pay for a much better car later. |
|
Free Thinker
|
I would look at what the interest rates on the credit cards are as opposed to that of the car payments. With credit cards, they like you to pay as much interest as possible and have no defined payoff time, whereas cars have a defined time to start your payments and when your car will be paid off. Most credit cards have relatively high interest rates and the principal amount paid each month is considerably lower. You are throwing quite a lot of money away each month with credit cards. Personally I hate credit cards! In my opinion, credit cards are legalized loan sharking.
My personal recommendation would be pay off those credit cards and then buy your car even if the down payment is less. Also with the car, if your payment is $250 and your principal part of that payment is $25.00 then I would encourage you to make an additional principal payment each month which helps reduce the amount of interest overall that you pay and will increase your monthly principal amount and reduce your interest amount yet your payment will remain the same. This is also true with house payments. It is said that if you pay your first house payment on the day you purchase your house that you will reduce your payments by several years as the interest is charged on the unpaid balance. I hope this makes sense to you. I am a realtor and no I am not going to solicit your business but I will tell you that there are amortization charts that you can find either online or thru a mortgage person at a bank. Using this chart you can play with the numbers and determine how much you are going to pay monthly and at what rates with certain down payment amounts.
To answer your question concerning lowering interest rates, that is determined by your credit score and your debt to loan figures.
A word of caution, don't go to car dealer x,y & z and let them all pull your credit, that in and of itself can reduce your credit score and increase your interest rate. Ask them to give you a scenario of credit scores with various down payments. If they won't cooperate with you then the dealer next door just might when they hear how you were treated by another dealer. This my friend, is part of the art of negotiations!
Hey, are you sure you don't want to buy a house in Florida... Only kidding!
Sara |
|
kokopelli
|
Paying off credit cards might raise your credit score and thus make you eligible for a lower rate on a car loan.
You'd need 30 to 60 days for this to be reflected in your credit score, so if you are planning on buying a car in the next two weeks it would have no impact. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
13 | 30 minutes(s) ago
| | | |
13 | 33 minutes(s) ago
| | | |
13 | 58 minutes(s) ago
| | | |
13 | 2 hour(s) ago
| | | |
13 | 6 hour(s) ago
| | | |
12 | 8 hour(s) ago
| | | |
11 | 2 day(s) ago
| | | |
12 | 4 day(s) ago
| | | |
13 | 1 week(s) ago
| | | |
13 | 2 week(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
