How do Loan Terms Affect the Cost of Credit?
What are loan terms and conditions? Typically, loans carry specific terms and conditions that the borrower must meet. When taking out a loan a person has agreed to the terms and conditions from the borrower. Loans have several components including loan duration, interest rate, payment structure, fees and penalties. Loans can be either secured or […]
How APR Affects Credit Card Repayment – A Full Guide
Decoding What Is APR Credit Card: Your Credit Card Cost Companion Credit cards are handy, especially when you need to make a purchase and don’t have the cash on hand. But they come with a catch, which is interest. That’s where APR comes in. What Does APR Mean on a Credit Card You may ask, […]
Why It’s So Difficult to Get Out of Credit Card Debt
Daily Compounding Interest and Credit Card Debt: How to Reverse the Cycle Credit cards offer an appealing mix of convenience, added purchasing power and tantalizing reward programs. But there can be a dark side to credit card use, as many credit card users end up struggling with debt. The first step to escaping credit card […]
Revolving vs. Installment Credit: What They Mean
Debt typically falls into two categories: revolving debt and installment debt. Understanding how each works can help you manage your finances and make informed decisions. What is Revolving Debt? Revolving debt gives you access to a credit line that you can borrow from, repay, and borrow again—much like a cycle. There’s usually a credit limit, […]
