I know that you have to have a decent credit score, employment, and income to be pre approved for a car loan, but I am also wondering do loan officers take in account how much mooney you have available in your savings/checking account when approved for a loan? Also, how do they come up with the pre approval amount? Are there any stipulations with a pre approval car loan??|||Money in checking accounts, savings accounts, investments usually are not considered when applying for a loan. The money says nothing about your history of paying off loans. Furthermore, you could wipe out the accounts the day after you get approved for a loan.
The amount for which you are approved is dependent on three things: 1) your income, 2) your outstanding debts, and 3) your current credit limits and the percentage of those limits that you are currently using.|||How much you have in savings does not usually matter although if you've had it there for years it might make a small impact.
the preapproval amount is usually related to how much they figure you can comfortably afford to pay.
The stipulations might be related to their estimate of value.
My credit union says: Maximum used car loan advance is NADA "Retail Value" or 80% of the purchase price where NADA "Retail Value" is not available.
On a related note, my credit union TURNED ME DOWN for a cash back credit card despite the fact that I had over $30,0000 in CDs.
I tried again about a year later and they approved it with a $1000 limit. Later, when I had some big purchases pending, they upped it to $5000 after pleading with them but by then I had over $70,000 in CDs.
A month or so ago, they changed a rule that said they can raid your other accounts with them if you fail to pay back any loan. Apparently it wasn't always the case.|||HI ,my names is Joy Rose.i saw your question in yahoo answer .i decide to referred anybody who is dire in need of loan to this God fearing man because i have been SCAMMED twice by this fake lenders.when i have bad credit is this man that gave me{ $60,000] .you can get to him via Email james.wood8483@yahoo.com. tell him joy rose referred you to him who he gave a loan to.Goodluck
thanks,from joy Rose|||My name is Ken Lee i am the managing director of Ken lee loan firm I assist people financially who are desperate need of a loan, because I think enough is enough I want to prove myself to everyone.
TYPE OF LOAN
business loan, company loan, personal loan, housing loan, student loan etc.
I assure you 100% guaranty your problem will be solved. So hurry now by sending us your details Hope to see your response via this link.
kenleeloanfirm@ymail.com , kenleeloanfirm@live.com|||I am just whyte, i had issues getting a loan of 150k until i met Henry Smith. do contact him at henrysmith612@gmail.com All thanks goes to my friends Lissa for introducing me to him. I am doing like wise here.....Congratulations as you contact him....
Thursday, December 15, 2011
What is the cheapest credit card available in australia?
with the banks or building societies, i think im paying about 9%, is there any cheaper around, i know one of the commercial channels did a survey,but i do not know which one.|||Well firstly they all are the cheapest if you pay your credit cards off on time (that is they won't charge you interest).
Go to infochoice. Allows you to put in your situation and helps you select the best card for you.
http://www.infochoice.com.au/banking/cre鈥?/a>|||St.George Vertico Card. Up to 55 days interest free on purchases. Low annual fee.
Go to infochoice. Allows you to put in your situation and helps you select the best card for you.
http://www.infochoice.com.au/banking/cre鈥?/a>|||St.George Vertico Card. Up to 55 days interest free on purchases. Low annual fee.
How do you exspect individuals to pay off their credit cards debts, when there are no jobs available?
I don't have acredit card. However there are many individuals who do. And they got their credit cards in good faith. They thought they would be able to pay their debts, because they had jobs. However since there are NO jobs available. How are they going to pay for their convient plastic credit cards?|||Raking up credit card debt is a bad move whether you have a job or not.
Society needs to learn to live within their means but banks are just as much at fault for allowing people to continue getting approved for more and more credit.
It's a vicious circle.|||Many people save in case they lose their jobs.
Experts will tell you to save 6 to 9 months worth of living expenses in a savings
Note: 54% of Americans pay their credit cards in full each month.
They never carry a balance and never pay interest.
They also have that emergency savings in place.
^^^ Not everyone is a dead beat|||That is a complete false argument.
If they did not have the money to pay for it they should never have purchased it.
If you did not have the money to pay for it you would then be paying 20% interest. You have to be nuts to purchase anything at 20% interest.
That is very simple economics.
Even the squirrels know that you must put something away for a rainy day.|||"They got their credit cards in good faith." That's not why they're in trouble. They're in trouble because they BORROWED too much on those cards instead of behaving responsibly.|||as of 3 minutes ago, there were 4,223,009 jobs available in america....|||No jobs available?
I doubt it.
If you are willing to work for less, at least temporarily, you can find a job.|||What?
So because they were to stupid to plan for the future they should be forgiven their debts?|||They can ask the IMF to bail them out like everyone else
Society needs to learn to live within their means but banks are just as much at fault for allowing people to continue getting approved for more and more credit.
It's a vicious circle.|||Many people save in case they lose their jobs.
Experts will tell you to save 6 to 9 months worth of living expenses in a savings
Note: 54% of Americans pay their credit cards in full each month.
They never carry a balance and never pay interest.
They also have that emergency savings in place.
^^^ Not everyone is a dead beat|||That is a complete false argument.
If they did not have the money to pay for it they should never have purchased it.
If you did not have the money to pay for it you would then be paying 20% interest. You have to be nuts to purchase anything at 20% interest.
That is very simple economics.
Even the squirrels know that you must put something away for a rainy day.|||"They got their credit cards in good faith." That's not why they're in trouble. They're in trouble because they BORROWED too much on those cards instead of behaving responsibly.|||as of 3 minutes ago, there were 4,223,009 jobs available in america....|||No jobs available?
I doubt it.
If you are willing to work for less, at least temporarily, you can find a job.|||What?
So because they were to stupid to plan for the future they should be forgiven their debts?|||They can ask the IMF to bail them out like everyone else
Are there any prepaid credit cards available in Canada?
Preferrably in Ontario, issued by some sort of trusted financial company? If so, how/where would i have to go to get one?
I have tried searching it ten thousand times and anything that seemed legitimate was not being offered in Canada.|||Capital One offers a secured card. Try them online.|||http://www.creditcardsearch.ca鈥?/a>
This site has info on all credit cards in Canada. The page specific to this link contains info specific to prepaid credit cards, specifically.
:P
|||Technically there is prepaid credit cards in the specific area you are talking about. The thing is, they are just hard to accumulate.
I have tried searching it ten thousand times and anything that seemed legitimate was not being offered in Canada.|||Capital One offers a secured card. Try them online.|||http://www.creditcardsearch.ca鈥?/a>
This site has info on all credit cards in Canada. The page specific to this link contains info specific to prepaid credit cards, specifically.
:P
Report Abuse
|||Technically there is prepaid credit cards in the specific area you are talking about. The thing is, they are just hard to accumulate.
Is there a credit card available which will allow you to change your account number?
If you have automatic bill pay, it can be difficult to stop a company
from billing your account|||If a company won't stop an automatic pay charge, contact your credit card company and dispute the charges. You shouldn't have to close and reopen or fraudulently report stolen any account.|||I think you can also *cancel* your credit card and then re-open a new account.|||If you call the credit card company and tell them you lost your card, they will issue you a new number for your account. Just make sure you tell them that there are no fradulent charges on the account yet.
from billing your account|||If a company won't stop an automatic pay charge, contact your credit card company and dispute the charges. You shouldn't have to close and reopen or fraudulently report stolen any account.|||I think you can also *cancel* your credit card and then re-open a new account.|||If you call the credit card company and tell them you lost your card, they will issue you a new number for your account. Just make sure you tell them that there are no fradulent charges on the account yet.
If my available credit on a card is $0 once finance charges hit will I be charged an overlimit fee?
you shouldn't be using your entire balance - it will take you forever to pay if off if you are only making minimum payments|||Oh yes you will.
Credit cards suck.
Credit cards suck.
That the quantity of credit available to American consumers should be significantly reduced?
I am in a Debate class and am having some trouble finding the information that I need to come up with the right type of constructivge..just needing some help with either cites, quotes, references..anything that will help..thanks(my partner doesnt help too much)|||I assume that you are arguing that consumer credit SHOULD be limited?
Point 1) Bankruptcy rates are increasing (I will check for data sources)
Point 2) Laws for bankruptcy changed to remove the ability of consumers to get out from under consumer debt (credit cards) ONLY. This was done at the request of credit card companies who were seeing record bankruptcy rates
Follow the link below to watch a PBS special on the sneaky tricks Credit Card companies do. You can actually watch the show online. It was filmed before the law changed so that information is not on the show.
This should give you a decent start. By the way, I agree that credit should be limited more than it is. When I got my home mortgage, they offered to loan me WAY more than I should ever borrow or could ever repay.|||Arguing this as a consumer protection measure means you have to assume the consumers are incompetent to manage their finances. This may be true , but is hard to do based on economics because economics assume consumers are rational and know how to maximize their utility. You can however argue that banks and finance company managers have an incentive to maximize profits by making risky loans, even at the risk of becoming insolvent, because the loss due to insolvency does not fall on them, but on others. This is a problem that has long been recognized for banks, and as a consequence their deposits are insured by the FDIC, and they are regulated to prevent bank failures from damaging the economy as happened in the 1930's. The Savings an Loan crisis of the 1980's demonstrate that the potential for problems is still here.|||I'm in the same boat you are- but here is what I have gathered.
To argue the Affirmative side of the topic, you should probably take the approach of chronic spenders and problems associated with too much credit. Impact this in your speech. The negative will obviously point out that this is for relatively small numbers of people, but if you argue it well in the CX, then you'll be o.k. Just point out the amount of damage the people cause to the economy.
I made a list of arguments.
1. Current national average savings per household is in the negative numbers.
2.The amount of consumer spending has increased at a faster rate than consumer savings, which creates a great imbalance. (U.S. Department of Commerce)
3.Credit lenders are solely for profit, and many times they offer to give you more credit than you actually need.
4. Bankruptcy rates have increased.
5. Credit companies (particularly credit card companies) look for young and naive people they know will use their credit without too many questions. This is unethical.
6. In the past, they had caps on amount of credit available, and with that implemented, there were less problems with credit.
I'm sure there is a lot more things you could think of, but this is what comes to mind. If you debate this, in public forum, you really do not need a lot of statistics (meaning the other side cannot ask for them directly) but they do help with making an impact in your case.
I could not find much evidence, but these helped me understand the topic better.
The Wall Street Journal: Guide to Understanding Personal Finance had some good stuff on credit and the way it worked.
Checkout the U.S. Census Bureau website and they have some statistics. http://www.census.gov/|||Hello,
I am also on a debate team with the same topic. May I suggest you go to google, put the resolution in the search bar, and choose the first link to the scholarly articles. They have a wealth of good information
Point 1) Bankruptcy rates are increasing (I will check for data sources)
Point 2) Laws for bankruptcy changed to remove the ability of consumers to get out from under consumer debt (credit cards) ONLY. This was done at the request of credit card companies who were seeing record bankruptcy rates
Follow the link below to watch a PBS special on the sneaky tricks Credit Card companies do. You can actually watch the show online. It was filmed before the law changed so that information is not on the show.
This should give you a decent start. By the way, I agree that credit should be limited more than it is. When I got my home mortgage, they offered to loan me WAY more than I should ever borrow or could ever repay.|||Arguing this as a consumer protection measure means you have to assume the consumers are incompetent to manage their finances. This may be true , but is hard to do based on economics because economics assume consumers are rational and know how to maximize their utility. You can however argue that banks and finance company managers have an incentive to maximize profits by making risky loans, even at the risk of becoming insolvent, because the loss due to insolvency does not fall on them, but on others. This is a problem that has long been recognized for banks, and as a consequence their deposits are insured by the FDIC, and they are regulated to prevent bank failures from damaging the economy as happened in the 1930's. The Savings an Loan crisis of the 1980's demonstrate that the potential for problems is still here.|||I'm in the same boat you are- but here is what I have gathered.
To argue the Affirmative side of the topic, you should probably take the approach of chronic spenders and problems associated with too much credit. Impact this in your speech. The negative will obviously point out that this is for relatively small numbers of people, but if you argue it well in the CX, then you'll be o.k. Just point out the amount of damage the people cause to the economy.
I made a list of arguments.
1. Current national average savings per household is in the negative numbers.
2.The amount of consumer spending has increased at a faster rate than consumer savings, which creates a great imbalance. (U.S. Department of Commerce)
3.Credit lenders are solely for profit, and many times they offer to give you more credit than you actually need.
4. Bankruptcy rates have increased.
5. Credit companies (particularly credit card companies) look for young and naive people they know will use their credit without too many questions. This is unethical.
6. In the past, they had caps on amount of credit available, and with that implemented, there were less problems with credit.
I'm sure there is a lot more things you could think of, but this is what comes to mind. If you debate this, in public forum, you really do not need a lot of statistics (meaning the other side cannot ask for them directly) but they do help with making an impact in your case.
I could not find much evidence, but these helped me understand the topic better.
The Wall Street Journal: Guide to Understanding Personal Finance had some good stuff on credit and the way it worked.
Checkout the U.S. Census Bureau website and they have some statistics. http://www.census.gov/|||Hello,
I am also on a debate team with the same topic. May I suggest you go to google, put the resolution in the search bar, and choose the first link to the scholarly articles. They have a wealth of good information
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