What effect with the current market crisis have on my credit cards?
Question by happydawg: What effect with the current market crisis have on my credit cards?
I have several credit cards. Most of them have a zero balance. I do notice the credit card companies keep sending me blank checks wanting me to take advantage of low interest rates theyre offering.
Will the financial troubles have any effect on my credit cards? If so, what?
Best answer:
Answer by Tom P
The government is talking about eliminating 0% interest teaser rates on credit cards. This is probably why we are getting those blank checks with 0% interest right now. It is possible that credit card companies may lower credit limits, and even cancel the accounts of some customers in order to reduce bad debt liabilities. There is likely to be a wave of credit card defaults in the near future, which may trigger some of this activity. If you have a good relationship with your credit card companies I doubt you will be personally affected.
Good Luck.
Know better? Leave your own answer in the comments!
What is the easiest way to get a personal loan?
Question by Baked: What is the easiest way to get a personal loan?
I’m trying to get a fast personal loan, which is the best company to go with if you have bad credit or low credit ?
Best answer:
Answer by someone
Only way you will get a loan is through your bank and have payments debited from your checking account
What do you think? Answer below!
Q&A: What can happen if i can’t pay back pay day loans?
Question by Tori Lynn: What can happen if i can’t pay back pay day loans?
I have 7 small pay day loans out and i’m unable to pay them right now. They have been calling me and leaving threatening messages. They have even called me at work. I don’t know what to do or what they can do to me? Can someone give me some advice on this?
Best answer:
Answer by spiritgide41
It sounds like you are a strong candidate for bankruptcy. If your condition allowed some way to recover, it would be different. From your description, I get the impression that this would not be possible. Bankruptcy will give you a fresh start, and I would not delay. I have been in the position many years ago, and been bankrupt; I understand the difficulty. I also rebuilt my life and now have top notch credit and am strongly financially secure. In some conditions bankruptcy is a new start, not the finale.
Add your own answer in the comments!
It sounds like you are a strong candidate for bankruptcy. If your condition allowed some way to recover, it would be different. From your description, I get the impression that this would not be possible. Bankruptcy will give you a fresh start, and I would not delay. I have been in the position many years ago, and been bankrupt; I understand the difficulty. I also rebuilt my life and now have top notch credit and am strongly financially secure. In some conditions bankruptcy is a new start, not the finale.
Do you need an installment loan to maintain or build credit?
Question by AquaAngel: Do you need an installment loan to maintain or build credit?
By the end of this year, I will have all of my insallment loans paid off except for my mortgage. I have 2 credit cards that will be in good standing, low balances and all that. I want to build my credit to get the best rate I can to build a house in about 2 years. Am I going to need another installment loan on my credit report to have a good enough score? Or will the mortgage and credit cards suffice?
Best answer:
Answer by TheOnlyBeldin
Unless you have instances of defaulting or non-payment in your past, with the situation you describe, your credit should be good enough. Check your credit report for any errors.
Give your answer to this question below!
Categories: Loan Questions Tags: Build, Credit, enough, Installment, loan, maintain, Need, Question
Can you get a personal loan while in chexsystem?
Question by David: Can you get a personal loan while in chexsystem?
Six months ago I co signed a auto loan for my brother at a credit union with no problem. If I go back to the same credit union will they let me take a personal loan by myself. I have been in chexsystem for 4 years now and have since paid all my bills. I have a credit score of 771 and a employment history of 5 years and make 40-$ 50000 a year.
Best answer:
Answer by someone
Yes you may qualify at this point especially if you no longer owe a bank money
What might be the problem is that loan you co signed. The lender considers that amount owed as belonging to you and thus you no longer have enough income to repay 2 loans.
Add your own answer in the comments!
Categories: Loan Questions Tags: chexsystem, loan, Personal, Question, years
What are the downfalls to a cash advance on a credit card?
Question by Tom W: What are the downfalls to a cash advance on a credit card?
I need a 3000 dollar loan for a car, but my mom says, to avoid full coverage insurance, we get these cash advance credit card things in the mail all the time where you can take 3000 out of the credit card then pay it of, but i dont know if my mom know hat shes talking about, because I dont want to be paying this off for the next 10 years
Best answer:
Answer by Michelle
1, Cash advances on a credit card come with high interest rates, meaning that in the longrun your car will be more expensive.
#2, IF something happens to your $ 3,000 car (broken, wrecked, etc…), you still have to repay your loan. – If you had full coverage with the option that your insurance company would pay off your car, then you wouldn’t have to worry about what happens if your car gets smashed a week after you get it.
Then again, $ 3,000 is pretty cheap for a car. So the risk might be worth it to you. … I would also look into the option of getting a “personal” loan from a bank. If you qualify, the money would be yours to spend on whatever you want. But they would not be able to force you to buy more insurance coverage than you want.
What do you think? Answer below!
Question: Are Payday Loan Advances Really Expensive?
Are payday loan advances really expensive? This question is commonly asked by people especially to those who relies on payday loan and of course to the people using this kind of loan.
In this video, different perspective will be provided to you to justify different answers to help you what you can eventually do to answer the question.
This will guide you on how you always wanted to know how interest rates can affect this loans and if it could make it high or low. By watching this video you can determine whether you can have an expensive advances with your payday loans.
So enjoy and watch this video to know the answer to your question!