Sentences with phrase «typically high interest debt»

Credit card debt is typically high interest debt that needs to be at the top of your priority list to tackle.

Funds that are in a permanent life insurance policy's cash value can be either borrowed or removed by the policy holder for any purpose, such as supplementing retirement income, paying off debt (typically higher interest debt such as credit card balances), purchasing a new vehicle, paying for a child or grandchild's college education, or for going on a long - awaited vacation.

Not exact matches

But debts that carry a high interest rate (typically over 8 %) and weren't used to strategically help you afford a big purchase, are more problematic.

Typically, the interest rate on unsecured debt such as bank or store credit cards, personal loans and some lines of credit is much higher than the rate of interest individuals pay on their mortgage.

Corporate debt issued by companies with riskier balance sheets and lower credit ratings typically carries higher interest rates.

Credit card debt and interim loans, including overdraft protection arrangements and payday loans, typically charge very high interest rates, and can also have penalty fees that make these debts difficult to pay off.

Because credit cards charge the highest interest rates of any type of consumer debt — typically about 18 % to 22 % — and allow borrowers to string repayments out for so long that it greatly inflates the cost of everything they buy.

Answer 2: I'm not a financial planner, I'm a real estate agent, but in my opinion you should always pay off the debt that has the highest interest rate — typically the line of credit.

Since consumer debt typically has the highest interest rates, it makes sense to pay this off immediately with a tax refund.

Unsecured credit cards are «regular» credit cards that don't require you to deposit any cash with the bank as collateral against unpaid debt: you're allowed to make purchases up to your credit limit, and can pay for your purchases over time — although you'll typically pay high interest rates on any purchases you don't pay off in full each month.

Debt consolidation typically involves getting a lower interest loan to pay off multiple high interest secured or unsecured debts, such as credit cards or payday loans.

Many people will search for help in consolidating debts as a way to avoid filing bankruptcy and often fall into the trap of committing to a higher interest rate debt consolidation loan because the only financial institutions that will qualify you will typically charge you a higher rate of interest for doing so.

This is on top of the problem that when high - quality long interest rates are so low, it is typically a bad time to try to make money in financial assets, because returns on risky assets are typically only 0 - 2 % percent higher than the yield on long BBB / Baa debt over the long run.

Higher interest rates typically means more debt to handle later on, as well as larger monthly payments.

Your interest rate could be fixed or variable and is typically higher than with federally guaranteed education loans but lower than with other debts like credit card debt.

Interest rates on personal loans and credit cards are both typically higher than the interest rates banks charge for secured forms Interest rates on personal loans and credit cards are both typically higher than the interest rates banks charge for secured forms interest rates banks charge for secured forms of debt.

All of these options provide cash to pay your debts at, hopefully, a significantly lower interest rate, since credit card interest is typically higher than a mortgage rate.

Once you have a surplus, attack high interest rate debt first (typically credit card debt).

Anyone with consumer debt — such as credit card debt, which is typically at higher interest rates than long - term secured loans such as mortgages — should make paying it off a priority, says Golombek.

Next, if you have credit card debt, it's often better to pay that off before considering other investments since those interest rates are typically sky - high.

Indeed, companies that are typically geared with debts (such as REITs) will face a higher cost of borrowing now that the interests are going up.

Credit cards typically have much higher interest rates than mortgages, so you would save more money by working on eliminating your credit card debt first.

The theory was that the cash sitting in an emergency fund — typically in a high - interest savings account or a money - market fund — was earning less than what your debt cost you.

It is recommended you take care of credit card debt prior to paying off car loans or a mortgage because credit card interest rates are typically much higher, and mortgage interest is tax deductible.

However, I strongly advise against incurring more debt because rewards cards typically have high interest rates and no promotional APR offers.

With a balance transfer card, debt from a high interest credit card is transferred to the balance transfer card, which typically has a zero percent interest rate.