ASK & ANSWER | Browse questions and answers from our community experts
Showing 1 - 3 of 670 results.
What is the average interest rate on a cash advance?
Asked by unknown
1 Answers
Cash advances come with a cash advance fee and typically have higher interest rates than the interest rate for purchases. The cash advance fee can be charged as a percentage of the cash advance or a flat rate. For example, your credit card issuer may charge a fee of 5% of the advance or $10, whichever is greater.
Who pays interest on a loan?
Asked by unknown
1 Answers
The sum you pay goes to a part of the principal and part as interest. But there are also Interest only loans too. An interest-only loan is a loan in which, for a set term, the borrower pays only the interest on the principal balance, with the principal balance unchanged.
How do cash loans work?
Asked by unknown
1 Answers
Lenders hold the checks until the borrower's next payday when loans and the finance charge must be paid in one lump sum. To pay a loan, borrowers can redeem the check by paying the loan with cash, allow the check to be deposited at the bank, or just pay the finance charge to roll the loan over for another pay period.