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CREDIT CARD FACTS

To understand how credit cards work and how you can use them to your advantage, you need to understand certain terminologies. We will be highlighting and explaining what some of these terms mean.

This article was brought to you by TFC Title Loans, we try to bring to you the most informative information. If you are interested in getting a title loan local to you, we are able to help you with our large referral network.

We will help you to get the most money by using the equity that you have in your vehicle, the application is fast and we can provide you with same-day funding.

All of our referral partners are in compliance with the CFPB. We will help you to get the money that you need but from a trusted and reliable title lender.

Credit Limit

Your credit card issuer usually sets a limit on how much can be charged on your card. The limit on your card is dependent on your ability to manage debt.

Monthly payment

Your monthly payment is the minimum amount you are expected to pay on your balance every month., is however advisable that you pay more than the minimum amount monthly. This will help you to avoid additional interest rate charges. This amount is the minimum amount you are required to pay to keep your card active. If you pay less than this amount, your credit card issuer will turn off your card or deactivate it.

Grace period

The grace period is that time you have to pay your bills in full so that you do not attract charges. When you pay in full within the grace period, you will not have to pay finance charges on that bill. This period can be up to 25 days.

Late fees

This is the fee that applies when you do not pay your bill on the due date. It is the day your grace period expires. You will be charged a late fee if you pay after your grace period has elapsed. The late fee can be as high as $35.

Interest rates

When you use your credit card, it is more or less like you are borrowing money. Hence, you will be charged interest if you fail to pay your bill fully. Your credit card rate can be between 18% to 25% depending on your credit history. Also, with a credit card, you are paying for convenience.

Secured credit cards

A secured credit card is meant for people with poor credit or without any credit history and there are some banks that offer it. People in this category will be responsible for only the first $50 of unauthorized charges. Always keep your credit in a safe place so that it is not stolen.

On the other hand, a debit card does not offer this extra protection like credit cards. The way most debit cards work is like writing a check, where the money is deducted immediately from your account. You need to check your statement regularly so that you can report any false charges. Any false charges not reported within 60 days of receiving the statement means you will be held responsible for such charges. Hence, it is important that you are aware of all the implications of getting a debit card.

Credit reports

Your credit reports capture your payment history, a record of borrowing, and paying the debts. It is a report that shows your financial responsibility; how well you pay your bills, debts, and other expenses.  A good credit report will always work in your favor as you will be able to get loans and get it at even very low-interest rates.

Lost or stolen credit card

If your credit card is stolen or lost, you need to report it to your credit company as soon as possible.

Here are some of the terms you need to understand when you get a credit card that you can use for purchases. Knowing what these terms mean will help you to utilize your credit card to your advantage.

When you find yourself in times that you need to obtain emergency money title loans from home are always an option to get the finds needed within 24 hours. Call us today and get your money the next day.

Disclosures

DISCLAIMER: As our policy to make sure you know what we do and what are our limitations, we offer you these disclaimers. We are NOT A LENDER and we do not make short term cash loans or credit decisions. We are a referral service and work only with licensed lenders/brokers.

We may act as the broker for the loan and may not be the direct lender. Loan proceeds are intended primarily for personal, family and household purposes. We do not offer or service student loans.

*Loan amounts by the lenders vary based on your vehicle and your ability to repay the loan.

*Since we do not lend money directly we cannot offer you a solicitation for a loan, except in the state of California. In all other serviced states we WILL match you with a lender based on the information you provide on this website. We will not charge you for this service and our service is not available in all states. States that are serviced by this Web Site may change from time to time and without notice. Personal Unsecured Loans and Auto Title Loans are not available in all states and all areas.

*Auto Title Loan companies typically do not have pre-payment penalties, but we cannot guarantee that every lender meets this standard. Small Business Loans typically do have pre-payment penalties and occasionally will use your car as collateral to secure the loan.

*All lenders are responsible for their own interest rates and payment terms. TFC Title Loans has no control over these rates or payments. Use of the work competitive or reasonable does not mean affordable and borrowers should use their own discretion when working directly with the lender.

*The amount of people who applied for a loan and we helped and those who received a loan is not the same. We cannot guarantee we will find a lender who will fund you.Just because you give us information on this web site, in no way do we guarantee you will be approved for a car title loan or any other type of loan. Not all lenders can provide loan amounts you may see on this web site because loan amounts are limited by state law and/or the lender. Some lenders may require you to use a GPS locator device on your car, active all the time. They may or may not pay for this or charge you for this. This is up to the lender and we have no control over this policy of the lender. Typically larger loans or higher risk loans use a GPS.

*In some circumstances faxing may be required. Use of your cell phone to receive updates is optional.

*Car Title Loans are expensive and you may have other ways to get funding that is less expensive. These types of loans are meant to provide you with short term financing to solve immediate cash needs and should not be considered a long term solution. Residents of some states may not be eligible for a loan. Rejections for loans are not disclosed to our firm and you may want to contact the lender directly.

*Car Title Loan lenders are usually licensed by the State in which you reside. You should consult directly with these regulatory agencies to make sure your lender is licensed and in compliance. These agencies are there to protect you and we advise making sure any lender you receive money from is fully licensed.

*Trading Financial Credit, LLC dba TFC Title Loans, Car Title Loans California, Dineromax. If you are using a screen reader and are having problems using this website, please give us a call at 1-844-242-3543 for immediate assistance.

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