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HOW IS THE INTEREST RATE COMPUTED ON DEBTS ARE

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nichols_ranch



Joined: 27 Feb 2007
nichols_ranch's page
Posts: 1



29 Magic Points

Subject: HOW IS THE INTEREST RATE COMPUTED ON DEBTS ARE
 
Posted on Tue Feb 27, 2007 10:24 pm  

DO YOU HAVE TO SIGN A CONTRACT BEFORE YOUR CREDITOR CAN CHARGE YOU INTEREST AND HOW IS THE RATE DECIDED
stanley
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stanley

Joined: 23 Feb 2007
stanley's page
Posts: 54



3357 Magic Points

 
Posted on Fri Mar 02, 2007 7:23 am  

Hi nichols, welcome aboard Very Happy

The rate depends on your credit history I believe. That's the reason people try to keep their credit report clean and credit score high! Are you applying for any credit card? Remember, hard inquiries can hurt your credit score, it's suggested to do your shopping within a short period of time so that all the inquiries are counted as 1.
_________________
Stan
BTW, I am not a lawyer, I am here to share what Life has taught me.

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