By Valencia Higuera
The APR, or annual percentage rate, on your credit card influences your minimum payments. People with a high APR generally pay a higher monthly payment. The majority of their payment goes toward the interest, and their principle balance stays the same or barely decreases. If you want to pay off your credit cards or lower your payments, getting the credit card company to lower your APR is...
By Catherine Amo
Creditors use credit reports to determine your credit worthiness. Amongst other things, these reports show credit information and public records information. Positive activity increases your credit score while negative activity, such as a poor payment pattern, lowers your score. This score is also called a FICO score, named after Fair Isaac and company who developed it. The FICO score serves as a ...
By Charlie Rainer Gaston
Personal checks are covered under bad check laws. These laws are set up to protect consumers, creditors and sellers from fraudulent checks used to obtain goods and services. Not only do these laws act on behalf of consumers, protecting them against checks that are illegally written against their accounts, but also third parties, who unknowingly accept bad checks from consumers or debtors. The...
By Isabel Prontes
When you see the word "revolving" mentioned on your credit report, it is referring to a credit line in which the customer puts forth a "commitment fee" and then is permitted to spend the funds as he sees necessary. Revolving credit is generally used for operating reasons, and the amount usually changes every month depending on how much cash the person needs at the time....
By N/A
Although it is possible for a credit card company to garnish your wages, it is highly unlikely unless you live in close proximity to the card issuer and the amount in question is substantial. However, the credit card company may advise you that this is a course of action it is considering, which is within its rights to do as long as it intends to follow through on the threat. Credit card...
By Serena Makofsky
In a rocky economy, finding a great CD rate is a balance higher risk investments. A certificate of deposit is a guaranteed investment, because the investor cannot lose her principal. She may lose some interest on the CD, however, if she does not follow the terms of the CD as defined by the financial institution. A CD should be issued by a bank or credit union that has FDIC insurance, so that the...