Capital One Interest Rate Issue

Dec 192010
 

So my Capital One card has been in penalty APR (29.40%) for a LONG time now…over a year at least, but I just realized it should be a temporary thing and not permanent. According to info on this site, 6 months from after the last late payment it should revert back to normal APR…is this correct?

 

I wrote a letter to Capital One asking them to switch it back to the normal APR, which i cant even remember what it was at this point, but they just sent me a letter back saying they are "currently unable to lower the APR’s on their products."

 

Anyway, I happened to just be bored and clicked the balance transfer offer link on my Capital One account main screen and it said if I did transfer balance to my Capital One card it would be subject to my "existing purchase rate APR of 14.8%"….

 

Does this mean that this is my APR currently and its been switched from the 29.40% and I just havent noticed because I havent gotten the latest statement with the new interest rate on it?

 

 

 

 

 

Credit
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How does subsidized student loan interest work?

Nov 232010
 

How does subsidized student loan interest work?
I will be taking out a subsidized loan for the first time, and have a question about the interest. If I take out ,000 at 5% interest and it is deferred until after graduation. If I pay off the loan before it is due, do I have to pay the interest for all the years I have been borrowing the money or just the principle?
Can anyone please explain to me how the interest of the sub loan work? Thank you.

Best answer:

Answer by altaira_3
A subsidized loan means that the government pays your interest while you are in school. If you pay the loan while you are still in school then you would just be responsible for the principle.

What do you think? Answer below!

What is an interest only loan and what are the benefits and drawbacks?

Oct 282010
 

What is an interest only loan and what are the benefits and drawbacks?
I was recently pre-qualified for a loan and the loan officer didn’t mention any other loan programs except for an FHA? I had to ask about the first time buyers program. I’m just wondering what are some other loan programs and where could I find out about them.

Best answer:

Answer by sheila m
Hi I am a mortgage consultant, an interest only loan is always charged at a higher interest rate than a principal and interest loan, and if you are paying interest only then you are not paying anything off the purchase price of the property, there are lots of opportunities at the moment for better mortgage deals, if you are located in Australia then contact me and I will give you free advice. [email protected]

Add your own answer in the comments!

What student loan company has the lowest interest rate?

Oct 262010
 

What student loan company has the lowest interest rate?
I currently have a nelly mae loan(sallie mae) and they are way too high. Whats a good loan company for me to look at for next school year? PLEASE ONLY ANSWER IF YOU ACTUALLY HAVE TAKEN OUT A LOAN WITH THE PLACES YOU RECOMMEND.

Best answer:

Answer by Found-1
Federal loans are regulated by the government so all the rates are the same no matter what bank you take the loan from. Perkins loans are 5%. Stafford Loans are 6.8% and some of them the government pays the interest while you are in school. I’d stay away from any Private student loans, they are EVIL!
Good luck

What do you think? Answer below!

What are all mortgages loans for first time buyer? What is the current interest rate on mortgages loan?

Oct 232010
 

What are all mortgages loans for first time buyer? What is the current interest rate on mortgages loan?
I am looking for some personal experience from the first time buyer.
Where is the best place to get mortgages loan?

Is there a federal mortgage loan?
I am looking to buy in the next few months and I need some one to guide me on loan and everything about home buying for the first time.

Best answer:

Answer by MadMan
There are no specific loans for first time buyers. There are no federal mortgage loans as such. There are loans backed by the FHA. See the Fannie Mae or Freddie Mac websites for guides to home buying.

Add your own answer in the comments!

Can landlords deduct mortgage payments or just the mortgage interest?

Oct 122010
 

Can landlords deduct mortgage payments or just the mortgage interest?
I have a rental unit on my property that is included with my mortgage. Can I claim that percentage of the mortgage as a deduction (based on square footage) or just the mortgage interest? (FYI: Yes I do have a tax professional but she is unavailable for a few days and I would just like to know for planning purposes). Thanks!!!

Best answer:

Answer by Wayne Z
Only the interest is deductible. Principal paid is never a deduction.

However…..

You depreciate the property and get a tax deduction for the original cost (plus improvements) over time. The net effect is similar to deducting principal.

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When asked what my mortgage payment is, should it include escrow or just principal and interest?

Oct 042010
 

Question by John: When asked what my mortgage payment is, should it include escrow or just principal and interest?
I am planning on refinancing my car loan but I think my current mortgage payment will affect the banks decision. So my question is, when they ask what my mortgage is, should I include escrow or just principal and interest?

Best answer:

Answer by Steve D
Everything, PITI – the goal of asking is to get an idea of your monthly outgo – plus, they will get they info anyway when they pull your credit report, so it looks better if you are completely honest.

Give your answer to this question below!

Is mortgage interest paid at closing tax deductible?

Apr 012010
 


I’m ready to go, I 1098 – T I pay about $ 2,000 of mortgage interest. In getting my refund, I received a correct 1098 – T I have only about $ 100 of mortgage interest. The rest is to pay the closing. I need to submit a 1040X?

How do I adjust the interest deduction for my second mortgage?

Mar 282010
 


My second mortgage is 15 million. As far as I know, only the first $ 100,000 of net interest payments. This is correct, if so, is reasonable, I just left a trace where the deduction of interest (last year I only pay interest), 3?

interest rates on your cards

Mar 282010
 

What are your interest rates on your cards?  Have you seen them spike up lately? How long have you had the cards?

 

Have you called and asked for a rate decrease?  If they gave it to you what did you say?

 

 

 

 

 

 

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