Why do banks charge people who can least afford it higher interest rates? related questions

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Why do banks charge people who can least afford it higher interest rates?0andreanna2012-09-03 19:07:03
I know it has to do with risk , but what about the risk that the bank can not collect anything ? MedlinePlus Why not charge people with low incomes , lower rates and those with higher incomes , higher rates ? All *** - on ... MedlinePlus They send people to the wall and then expect taxpayers to bail them out . MedlinePlus I think half of an elephant is better than any elephant . MedlinePlus I just tried to refinance a loan at a lower rate and they said they do not earn enough to refinance , so the rate is still high , even though I just said that you can afford . MedlinePlus It just does not make sense to me at all. MedlinePlus Lower it so you can continue making payments ! No wonder the masters of the universe are in trouble ...
People are saying that we shouldnt put up interest rates as some people can't afford them but ...?5mema2012-11-03 07:11:03
a) If you can only pay interest rates when the base rate is below 1 % should not take a loan in the first place . MedlinePlus MedlinePlus b ) Were these people crying to me and others that havent received a river in the housing market because they have been priced by absolute greed of people who use the property as a way to make money ? MedlinePlus MedlinePlus I can not wait until interest rates rise and collapse all greedy so-and -so 's who thought they could make a " quick buck " on the property .
Why are the banks punishing people by hiking up credit card interest rates?0unscamble these following letters natcehtnenm2012-09-27 23:05:02
The people I know are suffering from recently banks double or even triple your interest rate credit cards in the result of making the minimum payment of $ 200 to $ 600. Some have never made a late payment and have a credit score of 750 + . MedlinePlus MedlinePlus In return, they have great credit scores are contemplating stop paying your credit cards or even considering bankruptcy . They realize that if they pay their minimum payment balance is never reduced . The bank will just sit on the balance to make money off of the interest, so it is almost useless to pay . MedlinePlus MedlinePlus Why banks punish those who are loyal to them ? If people stop paying your credit cards from banks lose money . If loyal customers have bad credit ratings , the bank can not lend. MedlinePlus MedlinePlus Although the bank is making money now , do not realize that this will backfire on them sooner or later? If people with good credit score bankruptcy file / don ' t pay banks may not finance cars, houses , etc. Will this turn, make our recession worse?
How/why do interest rates set by central banks affect market/retail interest rates?0Aldric2012-10-26 22:32:22
I understand that central banks ( the U.S. Federal Reserve and the Bank of England in the UK ) set their own interest rates for loans to / take deposits from government and commercial banks . MedlinePlus MedlinePlus I do not understand is how / why the rate set by the central bank affect the rates charged by my bank for loans and mortgages . Is not my bank is free to charge whatever they want , regardless of what the central bank charges ? MedlinePlus MedlinePlus I would have thought that competition between retail banks would be the main factor affecting interest rates . MedlinePlus MedlinePlus Maybe I'm being stupid ... Could an economics student , or other person in the know ' get well ?
Why would someone pay the higher interest rates when lower rates are available elsewhere?1Brittani2012-10-15 03:30:04
this is a question I have for homework . Refers to auto loans , banks , credit unions and the like .
Why do banks charge interest?0hd2012-09-20 09:13:03
Everywhere I look I see short-term loans, such as credit cards and bank loans, they are all part of a growing economy, and they are fast. Immediately payment and interest .. MedlinePlus MedlinePlus What about long-term loans? MedlinePlus Not a long-term loan that you pay each month, the month after the loan, I mean long term and not start paying anything for years. MedlinePlus MedlinePlus Where are these .. that are bad for quick profit and therefore bad for business so why not think of ways in which these can actually work on both sides .. first a long-term loan interest can not win as a short-term loan, as it defeats the purpose. MedlinePlus MedlinePlus This is something that basically consists of see why it could or could not work :: MedlinePlus MedlinePlus If people 10miillion truck $ 10,000 interest-free to say 10 years, that is a huge mass of money that has been created so inflation making money less valuable, here is the point MedlinePlus if not many people pay money to truck anything like that again for 10 years without interest that are forced at age 10, as part of the contract automatically amortization principle through wages garnished .. that sounds harsh, but the contract was signed in which no interest was created bulls $ $ t, and returns the correct value ie 15 000 10 years later due to inflation or deflation 9 per thousand, thus nullifying itself and not by creating money to stimulate the economy and therefore everyone is happy. MedlinePlus MedlinePlus No buisness in right mind would use this as no gain of money. Or is there .. that part of the contract must be the money used for specific things before approval as an investment or a home buisness, and as such should be maintained within the banking system that created it, which allows banks to have more money to pay. MedlinePlus MedlinePlus I do not understand this correctly MedlinePlus if a bank can create money having to keep only 10% of it, why even care about interest, not to make money more valuable. in fact, it's done the opposite and for many years it inevitably destroys it? MedlinePlus MedlinePlus In conclusion, if to barrow $ 200,000 pay nothing for 20 years, which would make this appealing to the lender less any interest .. we as borrowers and consumers and workers should be technically more credit than the lenders themselves, because we run the rear engine giant greedy in the first place .. Do I have right about this? MedlinePlus Maybe this should be a government program? MedlinePlus MedlinePlus I want some answers smart about this, even if any. It's interesting to me how the economy works, and that is, basically, if not completely full of s $ $ t.
How can credit card companies charge over 32% interest rates on cash loans?0Benjie2012-09-10 18:19:02
I took out a loan for $ 5000 totat at 5.99% interest , missed one payment , and now I'm being charged 32.3% .
What is the most interest banks can charge on personal loans?0kris!2012-11-06 04:26:44
Why do we let the banks charge us with compound interest loans? ?3daydrian2012-11-04 21:14:02
This is a scam and makes us backwards in our loans. With simple interest loans will be paid the top faster than you can operate more frequently for new durable goods such as cars.
Why are mortgage loan interest rates higher for fixed rate mortgages held for longer periods of time?0n.2012-10-07 11:16:35
Sorry if this sounds like a silly question , but I do not understand. For example , why are 30 years fixed mortgage rates the highest mortgage rates , vs say a 15, and why are 15 year fixed rate mortgage higher than adjustable rate mortgages ? It seems that lenders are taking a greater risk with an ARM versus a fixed rate mortgage and have to pay a higher rate (eg , comparing this situation with a new car loan versus a used car loan - the risk is higher in a used car loan ? ? ? ? MedlinePlus I can understand a fixed rate loan of 30 than 15 - a higher risk of default by the borrower , but still do not get the ARM be so low .
Do banks have a cap on the interest rate they can charge on a auto loan?1Channin2012-08-21 05:00:26
So is the normal rate for a person with bad credit. They charged me 33% on a new car , is this normal , I can do anthing to lower the rate .
Banks and interest rates.?1Blai2012-10-17 00:42:03
I am paying too high an interest rate on my car loan , I tried to refinance , but that does not work , even with two banks . I have nothing negative on my credit , but debt to credit ratio is very high . Instead of getting a repo and ruining my credit could a debt consolidator , such as those seen on television or w / e to be able to help and work with banks to reduce the APR ? What they also might be able to combine all credit cards into one payment to be able to pay faster ?

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