credit interest rates
71Virgin Credit Card — is a brand of credit card launched by Sir Richard Branson s Virgin Group and is available in Australia, South Africa, and The United Kingdom through Virgin Money.In AustraliaThe Virgin Card was launched in Australia in May 2003 and was soon… …
72Loose Credit — The practice of making credit easy to come by, either through relaxed lending criteria or by lowering interest rates for borrowing. Loose credit often refers to central banking monetary policy and whether it is looking to expand the money supply… …
73Real interest rate — The real interest rate is approximately the nominal interest rate minus the inflation rate (see Fisher equation and below for exact equation). Since the inflation rate over the course of a loan is not known initially, volatility in inflation… …
74Compound interest — The effect of earning 20% annual interest on an initial $1,000 investment at various compounding frequencies Compound interest arises when interest is added to the principal, so that from that moment on, the interest that has been added also… …
75Consumer Credit Act 1974 — United Kingdom Parliament Long title An Act to establish for the protection of consumers a new system, administered by the Director General of Fair Trading, of licensing and other control of traders concerned with the provision of credit, or the …
76Home Equity Line Of Credit - HELOC — A line of credit extended to a homeowner that uses the borrower s home as collateral. Once a maximum loan balance is established, the homeowner may draw on the line of credit at his or her discretion. Interest is charged on a predetermined… …
77Retroactive Interest Rate Increase — A common practice used in the credit card industry to increase interest rates on purchases made in the past. A retroactive interest rate increase will affect your outstanding balance. This is often viewed as an unfair lending practice because… …
78Floating interest rate — A floating interest rate, also known as a variable rate or adjustable rate, refers to any type debt instrument, such as a loan, bond, mortgage, or credit, that does not have a fixed rate of interest over the life of the instrument. Such debt… …
79Subprime Credit Card — A type of credit card issued to people with substandard credit scores or limited credit histories. These cards will typically carry much higher interest rates than credit cards granted to prime borrowers; they also come with extra fees and lower… …
80Fixed interest — A fixed interest rate loan is a loan where the interest rate doesn t fluctuate during the fixed rate period of the loan. This allows the borrower to accurately predict their future payments. Variable rate loans, by contrast, are anchored to the… …
