Is there any way to get the finance charge dropped on Capital One credit card?

Tips and Deals Forums Consumer Credit Credit Cards Is there any way to get the finance charge dropped on Capital One credit card?

This topic contains 3 replies, has 2 voices, and was last updated by  Anonymous 8 years, 2 months ago.

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  • #210428

    Anonymous

    I got a credit card over a year ago, with a $750 max amount. I bought a laptop for around $600, and later a couple of small things. Long story short, I went over the limit.

    My finance is $14.56. My minimum amount to be paid keeps changing, sometimes its less than $20, and sometimes its $20 again. I always pay $25. I can’t do anymore than that.

    I am on SSI. Really, I was stupid for getting this thing. But I did. And I am going to be stuck paying this for the rest of my life. Is there anyway to get this finance charge down? I owe $756, and it never goes down.

    I was told to get rid of the useless payment protection I have, which I will.. but still, the finance is quite high. Is there a way to lower it?

  • #325761

    Anonymous

    Generally speaking, Mortgage Insurance Premiums (MIP) is paid on a monthly basis until you reach an equity position in the property of 20% or more. This can be accomplished by paying extra on your monthly mortgage or when the property appreciates in value. PS It does not matter if the property is a single family home or a townhome. But in any case, if you don’t trust what your lender is telling you, shop your loan.

  • #325762

    Anonymous

    HUD charges an Up-front Mortgage Insurance (UFMIP) premium for mortgages insured under Sections 234(c) (FHA code for condo loans). As with other programs in which an up-front premium is charged, periodic premiums also are charged on a monthly basis for 234(c) loans.
    HUD charges a 1.5 percent up-front premium for condominium mortgages. As with other programs in which an up-front premium is charged, periodic premiums also are charged on a monthly basis. The premium structure for condominium loans is now identical to that of Section 203(b) (FHA code for single family) mortgages (the monthly premium charge and termination schedule, and the FHA-to-FHA refinance UFMIP refund schedule , respectively, also apply).
    The website below will help answer other questions you may have during this process. Hope it helps!

  • #325763

    Anonymous

    As of December 27, 2005 condos require the up-front MIP. There are still a lot of references out there that say otherwise, but the HUD site is going to have the right information.

    Some sources say that you can finance your up-front MIP costs, but you should speak to your lender to get advice about what is right for your situation.

    Good luck with your purchase, and congratulations!

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