Generally, if you have an adjustable-rate mortgage (ARM), your mortgage servicer is required to send you an estimate of your new payment. If your interest rate is being reset for the first time, your lender must send you the estimate ...
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Should I refinance my private student loan into one with a lower rate?
Some borrowers who have excellent credit may be able to qualify to refinance their existing private student loans with a new private loan at a lower rate. However there are some important things to consider. Private student loans may have ...
How does compound interest work?
Compound interest is when you earn interest on the money you’ve saved and on the interest you earn along the way. Here’s an example to help explain compound interest. H2 None Increasing the compounding frequency, finding a higher interest rate, ...
Can a debt collector increase the interest rate on a debt I owe?
A debt collector may not collect any interest or fee not authorized by the agreement or by law. The interest rate or fees charged on your debt may be increased if your original loan or credit agreement permits it and ...
What are the different ways to buy or finance a car or vehicle?
The most common ways to get an auto loan are through your car dealer or a bank or credit union. Learn the differences and how to compare offers to get the best loan. Most buyers need to get an auto ...
Can the credit card company sell my account?
Yes, most cardholder agreements allow the credit card company to sell your account to another card company. This can happen even when your card is active and in good standing. The new card company mails a new card to you, ...
A balance transfer fee is a fee charged to transfer an outstanding balance to a different credit card. A credit card company is permitted to charge you a balance transfer fee on a zero percent rate offer.
What is a credit card interest rate? What does APR mean?
A credit card’s interest rate is the price you pay for borrowing money. For credit cards, the interest rates are typically stated as a yearly rate. This is called the annual percentage rate (APR). How can you avoid paying interest ...