 What is better, more credit cards or older cards? |
| I have about 6 cards that are all pretty much paid off but I like most of them for various reasons...Chase amazon b/c I shop there alot and the rewards are good. Chase freedom cus of the APR, W... |
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 How easy will it be for me to get a credit card? |
| Im 18 and have no credit history. I am about to apply for a student credit card, will it be mereley a formality meaning i will get the card easily or is there a big chance of me not getting the card?... |
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 Too much money in the bank? |
| I heard that if you put a lot of money in at once they'll ask you a lot of questions so if your doing something illegal youll get screwed. True???... |
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 Why do loan companies get away with abusing customers? |
| I have had a loan for 5k, the pay back is close to 11k, stupid i now, but how d they het away with earning so much money ... |
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| What does this mean anybody?? |
| every tax or taxes to any minisry of corporation here in nigeria e.g central bank ministry of justice etc must be paid upfront before funds will transfered or deposited into beneficiarys designated ... |
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 Should I close or keep open credit card accounts? |
| I have two of those rip off credit cards, First Premier and Applied Bank, I paid them off in full, will it hurt my credit to close both accounts now? They are the only cards I currently have, as I ... |
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 Notary public for notarizing affidavit of unzuthorized use of credit card? |
| There was a fraudulent transaction on my credit card a few days ago. I called the bank and closed my account and today I received an "affidavit" for me to fill in to report the unauthorized ... |
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 Is 761 a good credit score? |
| how do i know if i have good credit?... |
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 Credit card question? |
| I have zero credit and this credit card is for zero credit people and it says annual fee is $49. What does that mean..just to get it the card or every month or what? thank you.... |
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 How to get a co-signer off a car loan? |
| So back in 2006 I got a car. I asked my mom to go along with me because I didn't know anything about buying a car and I didn't want to get ripped off. So I picked out the one I wanted and ... |
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 Ebay selling? |
| how should I accept payment on ebay when selling something? I don't want to get a personal check because I don't want to chance it bouncing. I have NO idea how a money order works, and the ... |
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 Is the account number the first 8 digits on your credit/debit card? |
I'm just a little confused, new to the debit card, trying to create a paypal account. Thanks! x
... |
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arrarrgee | Reason for 0% APR Cards? |
What is the reason for credit card companies offering a 0% apr card apart from the usual promotional spin? Is there somnething to do with the economic cycle we are in? |
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achrimsdale
|
Lethargy.
People join for the 0% but then stay with that company when the rate rises.
Also they got you hooked for insurances and other services.
. |
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Mike
|
It is just to attract new customers... I have never seen any card company offer 0% for more then 18 months or so.
And they hope you will screw up and forget to make a payment, which will make the interest rate go to 23% or more... |
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sum4182girl
 |
Because people don't usually pay off their credit cards while they're in 0% APR. I think usually after 6 months your apr will go up to like 16.9%. Credit cards are not anything good. They're all in the business to rip you off. |
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Phoenix
|
They want to extend their customers base. Banking industry is a very competitive market. Banks already borrow money at least at 5.25% from other banks or the Fed. If they loan you at 0%, they would hope that by the time the promotion rate runs out, you'll not be able to pay the rest and whatever left over, it will go to the higher rate. Sometimes it is a variable rate, not fixed rate. That means when the prime rate goes up, your APR will go up too.
The transaction fee for balance transfer varies from one customer to another depends on how many times you transfer. Some people have a cap of 3 or 4% max $75 or $90. Others have no max so just imagine if you transfer $20.000 at no max- 3% will be $600 transaction fee or if you have minimum 4% and no max, you will pay $800.00 for transfer the balance.
If you pay late or go over your credit limit, the promotional rate will end. When this promotional rate ends, your APR will be a default rate normally at 32.24 %. They will be able to collect the late fee, over limit fee and the outragous rate. They already figure it out, they won't lose money, trust me. |
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captainsay2000
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no |
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DOT
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Most of those offers are called "teaser cards". They offer the zero interest rate only for a short period of time then it automatically changes to the high rate. be careful. |
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yellobrix
 |
Miss one payment, your interest jacks to 18%. Miss another, see 24%... another? Hello, 28% or more...
So you get that 0% card, maybe pay 5% or up to $75 for a balance transfer, then you go on a shopping spree because hey, it's practically free! Suddenly, you are paying out the wazoo the for interest and penalties.
Credit card companies are quite similar to your corner drug dealer -- the samples are free, but once you are hooked... |
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cody
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The economy is great right now.
The current fed. interest rate is 5.25%
I have a feeling the 0% APR is like a temporary 6 month kind of deal till the real rate kicks in |
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iceman
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Its very simple. Its a just a way to attract new customers. Many if not most customers will end up paying interest on a card at some point. So even if the bank is letting them use money interest free for one year, many of their new clients will end up with balances after one year. And normally the interest rate jumps WAY up. |
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