Posts Tagged ‘APR’:


Basics of Installment Loans

Published by Rachel D on April 2nd, 2012

Check City has recently introduced installment loans and they are available to all Colorado residents. When you are looking into an installment loan service, you should be sure that you know what the process will entail. As you are taking time to look into an installment loan service you should be sure that you are going to be able to get the money that you need to make ends meet. An installment loan will ensure that you are able to have a more flexible payment plan and you will not even have to endure a credit check while you are

continue reading…

Tags: , , , , , ,
No Comments »

Short-Term Lending Not Predatory

Published by Melissa L on December 26th, 2011

Check City‘s payday loans are not predatory according to an article in the Deseret News by Richard Evans. The article stated that in a new dataset collected during summer 2011, Evans surveyed all of the Utah payday and title lending firms, as well as some pawn lenders. The data include average interest rates (in APR), average loan amounts, average duration of loan, default rate and total principle lent for more than 50 percent of all the payday and title lending store locations in Utah. There was a response rate of more than 50 percent which makes this survey one of

continue reading…

Tags: , ,
No Comments »

Are Credit Unions A Better Option?

Published by Don M. on June 13th, 2011

All across the US, local credit unions are a trusted banking and loan option for customers. But since credit unions cannot operate with a motive for profit like traditional banks, some credit unions have made it a habit to keep cash flow steady by increasing payday loan fees for their customers. Last September marked a big change for credit unions who offer payday loans. The National Credit Union Administration raised the annual interest rate cap from 18% to 28% allowing credit unions to charge more for payday loans they offer. But some credit unions aren’t apparently satisfied with this increase.

continue reading…

Tags: , , , ,
No Comments »

What is “Bank On Dallas” Really Reaching Out For ?

Published by Jared W on August 23rd, 2010

A recent article ” ‘Bank on Dallas’ reaching out to low- and middle-income residents”  highlights a Dallas Texas initiative and campaign “Bank on Dallas – It’s Safe and It’s Smart” that is being pushed by Mayor Tom Leppert and council member Jerry Allen, along with Jim Reid, president of the nonprofit Momentum Texas Inc. The program which is “designed to help low- and moderate-income Dallas residents establish savings, build credit history, gain access to low-cost sources of credit and invest for the future” is officially underway. While I applaud the efforts to help low and moderate income people, or for

continue reading…

Tags: , ,
No Comments »

Questions and Answers about Payday Loan APRs

Published by Don M. on July 21st, 2010

What does APR mean? APR stands for Annual Percentage Rate. It basically refers to how much money your credit will cost you, expressed as a percentage, measured over a yearly span. By law, when a company offers you any form of credit, from credit cards to a loan, they must show you the annual percentage rate of that credit before any credit is signed. Why are payday loan APRs so much higher? In comparison to lines of credit or loans that you would typically see from other financial institutes, the APR on payday loans does seem much higher. The reason for

continue reading…

Tags: ,
2 Comments »
© Check City Online. All rights reserved.
CheckCity.com