Several years ago I developed a chronic medical condition,lost my job & was unemployed several years. I used my savings to pay my credit cards until I missed 2 payments in a row. I contacted the credit card company, worked out a deal to pay them back.
I am now employed, current on my bills & [...]
What is the difference on fighting a recession with lower Fed rates of interest and lower credit card interest rates (including associated charges).
Please include an estimated time lag difference in effects as well.
My husband and I between the two of us have on credit card from Capital One. Our Balance is 5000 with a limit of 6500, we do use the credit card atleast once a week and send out a payment of about 50 dollars once a week being that we do use the card.
(payments [...]
If I take a credit card cash advance and deposit this money into a money market account, is the interest on this credit card debt deductable on federal taxes? I have an unique credit card offer that would actually yield a significant profit if the interest is tax deductable.
We hear about how lowering taxes (for rich/for poor ?) and lowering the rate the federal reserve charges banks for loans helps stimulate the economy.
Would some implementation at the federal level of lowering credit card interest rates be a more direct way to stimulate the economy?
For example, if I used a cash advance to
1. buy stocks,
2. invest in bonds/fixed income assets
3. “refi” my personal mortgage
4. buy investment property
or any other situations where credit card interest is tax deductible?
Thanks for all you responses. Just to clarify -
Say I borrow $100 from my credit card at [...]
When I was deployed to Iraq my interest rate was 4%. Now that I am home my credit card interest rate got high. Now the soldiers and sailors act is only for debts acquired before the military. I got my credit card after I joined. Any suggestions on how to get it lowered.
I have heard that there are ways to get your interest rate lowered. What are they. I just got off the phone with my credit card company and asked if I could get my interest rate lowered and they said no. They said I have the lowest interest rate they offer at [...]
I heard it used to be, but someone changed the tax laws.
If credit card and line of credit interest was tax deductable like mortgage interest was, how much would that help out the middle class who is living day to day with a deficit?
If they take away the mortgage tax deduction I and 100 million [...]
I have a credit card that I simply use to collect airline miles. I’d like to keep the interest to a minimum or avoiding it altogether. They say that by paying off the card every month you can avoid paying interest.
What does that mean and how is it done?
Do I pay off the card before [...]
