Interest rate compounding interview..?
If I have.1) a coup¨¦ loan at 10%
2) credit card at 8%
3) student loans at 6%
What is the difference in the passageway that they compound and which would be the best to work on paying off first? Is in that a difference in the passageway they compound?
Answers: The difference in compounding, if any, will be nominal. You should pay rotten your highest rate debt first, other.
the credit card is the only one short a fixed payment amount/fixed permanent status. I would focus on that and then shift the $$$ that be going to the credit card over to the car loan and after when that is remunerated off the student loan.
I would also rebudget and focus on building up a dosh reserve to avoid having to use credit cards within the future.
They compound like peas in a pod way, in recent times that one compounds faster than the others.
For compound interest, remember "The Rule of 72" and "The Rule of 70"
If compounding annually,
The time it takes for something to double equals 72 divided by the rate.
If compounding monthly,
The time it take for something to double equals 70 divided by the rate.
With a student loan, and not the greastest credit, how do I refinance?
We can't handle the $5oo.00 a month transmittal and the 12.499 percent interest. We are still in our grace extent, there are so lots lenders out there, I don't know where on earth to start.Answers: If the credit is that bad the 12.50 might be a quibble.
Try http://www.naca.com
wow.. 12% thats crazy. try to consoliation ure loan with other debt if you hold some. you can do better then 12 especially beside the feds cutting rates 1.25 within the last week.
http://www.finance-experts.com/bad-credi...
Can I knowingly overpay my credit card contained by mortgage?!?
Hiya,My credit card is about to lift a pounding as I'm going to be away for 2 months. To stop me going over the limit, I'd resembling to overpay it before I walk so that I actually hold more credit than the current limit - if that make sense!! I'm taking cash and travellers cheques too, but I'm going to have need of the card for things like saloon rental, which will not be covered by my current card limit! Any suggestions??!! Many gratefulness!
Answers: Some credit cards do let you overpay, but how much depends on the card. 1 of mine allows $50, another $75 and another 0. Best bet is to ask for a complex credit limit. Have a honourable trip!
yes -- you can do this.
you won't get any interest on the surplus funds, and it will prevent both those objectionable fees and being turned down.
as you would expect, with abundant cards there days, you can use the Internet from anywhere to convey in a expenditure from your checking account.
yes u can over foot, but sadly u bring any interest on it, if u r nervous more or less bein stuck abroad short enough funds, maybe u can ask ur card company to raise ur aim to an amount ur happier with and even if u will be happier to over reimburse on that aswell.
pleasant journey.
I would read aloud it depends on the credit card. I once overpaid mine by mistake and they sent me a check. One of those prepaid Visa card might work. Why don't you call the credit card company and find out?
Check near your provider first. They may suggest you increase your limit You could construct the point to them that since you'll be away when the bill comes, you won't be able to build the payment on the due date. (They'll suggest a direct debit. Resist this! A standing proclaim is OK because you tell your mound how much, and when, to pay; a direct debit authorises the payee to relief themself.)
I noticed lately that the Post Office has introduced a charge card for travellers which does exactly what you describe - you preload it beside money which is then available to spend. I haven't looked into it surrounded by any detail, but it might be a solution.
whilst it is technically possible might i suggest you DONT DO IT.
if you buy something on credit card you are covered by the credit cards insurance, so if the company goes bust or refuse to deal beside your problem, the credit card company has to cover it. However, if you buy something near "your own money" which pre-paying your card is, then you are not covered by the insurance because it is your money, not theirs that buys the stuff.
Call to ask for a higher limitation and set up a direct debit. that way you'll be sure you won't income late.