Tag Archives: rate
Useful Tips For Finding The Best Credit Card Rates
When searching for a credit card, a good credit card rate is possibly the most important criteria that you might look for. Getting the best credit card rate is important because the finance costs you bring upon yourself will influence how rapidly you will be able to resolve the debt that you will accumulate with your new credit card.
For most people, choosing the best credit card rates is crucial as it can result in good savings. If you devote a little time on it and compare the terms, fees, rates, offers and other aspects of various credit card companies, you are sure to chalk out a good deal.
The best credit card is more often than not the card with the best credit card rates. Before you decide on a credit card, you need to check out the annual percentage rate charged by the company. The annual percentage rate is the sum of interest you shell out on your credit card balances. The lower the annual percentage rate your credit card proffers, the less you need to pay. Thus, a low annual percentage rate can result in great savings for you.
There are some credit cards, which offer very low annual percentage rate on the transfer of balances until the complete balance is paid in total. You can save hundreds and at times even thousands of dollars in interest costs by shifting your balances from high interest rate credit cards to low annual percentage rate credit cards. In case of any kind of confusion, you can seek professional help.
More often than not, it is seen that while selecting a credit card, people usually check whether the annual percentage rate is low or not. But just a low annual percentage rate should not be the only criteria for choosing the best credit card rates.
There are many card companies that tempt customers by offering a low rate of interest but on the other hand, include various hidden charges in it. Stay away from those companies. There are some companies that offer special introductory rates for a short time. You must check out how long the offer will last and whether it will be profitable for you to carry on with the credit card once the offer expires. There are credit cards, which do not charge any annual or monthly fees, but the rate of interest is high. Such credit cards are beneficial in the long run.
You can get best credit card rates if you have a good credit score. With a good credit score, you can happily negotiate with the card companies and cut a good deal for yourself. If you feel that your paying history is not too good, then you must wait for sometime, until your credit score improves.
Do not be nervous to ask about all the details and bargaining on the rate. Remember, if you want the best credit card rates, you must be smart enough to get it out of the company. If required you can chalk out a script and practice it yourself before you call the company. If you face any unpleasant customer service rep, do not lose your cool. Ask him/her to transfer the call to his/ her supervisor.
If you feel that the conversation is not going the way you want it to go, do not get worried. There are numerous companies available all around and you can try your luck with another one. In this era of cutthroat competition, companies will be too happy to serve a competitors customer. So shop around for the best credit card rates until you get the lowest one that is most appropriate for your situation.
Graduate Student Loan Rates (Page 1 of 3)
Few students can afford to pay for college without some form of financing, and graduate and professional students borrow even more than undergraduates, with the additional debt for a graduate degree ranging from $27,000 to $114,000. Fortunately, graduate student loan rates are low. Federal law sets the maximum interest rates and fees that lenders may charge for federally-guaranteed loans. Nothing prevents a lender from charging lower fees, and many lenders offer a variety of discounts to attract borrowers.
Grants, scholarships, work-study, and other forms of gift aid just do not cover the full cost of a college education. Many students find that they must supplement their savings with government and private loans. The Federal education loan programs offer lower graduate student loan interest rates and more flexible repayment plans than most consumer loans, making them an attractive way to finance your education.
How can you figure out how much your graduate student loans will cost when the interest rate is often variable? You’ll be pretty safe if you figure on a rate of around 8%. That’s more than the current rate for federal student loans right now, but rates may go up, and most loans are capped at 8.25% to 9%. (If you’re a parent using a home-equity loan, your rates were fixed when you borrowed the money. If yours is a home equity line of credit, however, your rates are variable, so use an 8% interest rate to be conservative.)
At 8%, each $1,000 you borrow will cost you about $12 a month to repay, assuming a 10-year loan. If you’re a graduate student and you borrow the maximum allowed under current federal student loan programs $23,000 in subsidized and unsubsidized borrowing for undergraduates who are still their parents’ dependents your monthly payments will be around $276.
The rate for PLUS Loans disbursed on or after July 1st, 2006 is fixed at 8.5%, while the rate for Stafford Loans disbursed on or after July 1st, 2006 is fixed at 6.8%.
Shop for graduate student loan rates in order help manage your future debt burden. Your school’s financial aid administrator can help you consider all of the important factors when comparing loan programs. The guidelines for Federal Stafford and PLUS loans are established by the federal government; however, there are some lenders that make adjustments to the terms in order to provide savings to borrowers. For example, many lenders discount fees on Federal Stafford Loans (that normally would be deducted from the amount disbursed to the borrower). And some lenders offer borrower benefits or payment incentives on Stafford and PLUS loans. Be sure to compare lenders before borrowing your federal student loans.
When choosing a private graduate student loan, there are many things to consider. You should investigate the features of several private loans and prioritize which factors are the most important for you, including the overall cost of the loan, credit criteria and approval rate, monthly payment, grace period, deferment, and forbearance, reputation of the lender, customer service, and other services.