Credit loan info

I found divine article:

The two leading credit card companies in the world today are the competitors Visa and MasterCard. They both operate in a very similar way. While Visa claims to have 1.6 billion cards¹ issued, MasterCard avoids direct comparison by saying it processes over 18 billion payments per year.² It is difficult to find any difference in the number of locations worldwide that accept the cards, which is now estimated at close to thirty million.

As far as most consumers are concerned, there is no real difference between the two. They are both widely accepted in over two hundred countries and it is very rare to find a location that will accept one but not the other.

Read more:

A payday loan (also called a paycheck advance) is a small, short-term loan that is intended to cover a borrower's expenses until his or her next payday. The loans are also sometimes referred to as cash advances, though that term can also refer to cash provided against a prearranged line of credit such as a credit card (see cash advance). Legislation regarding payday loans varies widely between different countries and, within the USA, between different states.

Some jurisdictions impose strict usury limits, limiting the nominal annual percentage rate (APR) that any lender, including payday lenders, can charge; some outlaw payday lending entirely; and some have very few restrictions on payday lenders. Due to the extremely short-term nature of payday loans, the difference between APR and effective annual rate (EAR) can be substantial, because EAR takes compounding into account. For a $15 charge on a $100 2-week payday loan, the APR is 26 × 15% = 390% but the EAR is (1.1526 − 1) × 100% = 3,685%. Careful reporting of whether EAR or APR is quoted is necessary to make meaningful comparisons.

United States

Regulation of lending institutions is handled primarily by individual states, and this growing industry exists atop an active and shifting legal landscape. Lenders lobby to enable payday lending practices, while opponents of the industry lobby to prohibit the high cost loans in the name of consumer protection.[17]

Payday lending is legal and regulated in 37 states. In 15 states it is either illegal or not feasible, given state law.[18][dead link] When not explicitly banned, laws that prohibit payday lending are usually in the form of usury limits: hard interest rate caps calculated strictly by APR.

The current list of states that have made PayDay loans illegal are as follows:

* Arkansas
* Connecticut
* Georgia
* Maine
* Maryland
* Massachusetts
* New Hampshire
* New Jersey
* New York
* North Carolina
* Ohio
* Oregon
* Pennsylvania
* Vermont
* West Virginia

Source: Wipedia

1. Capilat One VentureOneSM Rewards Credit Card

• 1.25 miles per dollar on every purchase, every day
• Redeem miles for airline tickets, hotel rooms, car rentals and more
• No limit on the miles you can earn and miles won't expire
• Fly free on any airline, any time with no blackout dates
• Use rewards for travel, merchandise, gift cards and more
• 0% intro APR on purchases until June 2011
• No foreign transaction fees
• No annual fee
• To apply online click the "Apply Here" button or call 1-866-582-0808

• 0% APR on Purchases for a FULL 9 months
• 0% APR on Balance Transfers for a FULL 12 months
• 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants and more
• Up to 1% unlimited Cashback Bonus on all other purchases automatically
• Turn your Cashback Bonus into bigger rewards by redeeming for gift cards from over 100 brand-name Partners
• Instant Response within 60 seconds
• No Annual Fee

• 0%* Intro APR on Purchases and Balance Transfers for 12 months. After that, the APR will be 9.99%-19.99%. This APR will vary with the market based on the Prime Rate. Both the rate and duration of this offer will be based on your creditworthiness*
• $30 Statement Credit*
• Concierge service that caters to your needs 24/7
• Citi® Identity Theft Solutions
• Secure, free online account management
• No annual fee

An equity loan is a mortgage loan in which the borrower receives cash. Typically the loan is secured by real estate already owned outright.

For example, if a person owns a home worth $100,000, but does not currently have a mortgage on it, they may take an equity loan at 80% loan to value (LTV) or $80,000 in cash in exchange for a mortgage on the title.

Many lending institutions require the borrower to repay only an interest component of the loan each month (calculated daily, and compounded to the loan once each month). The borrower can apply any surplus funds to the outstanding loan principal at any time, reducing the amount of interest calculated from that day onward. Some loan products also allow the possibility to redraw cash up to the original LTV, potentially perpetuating the life of the loan beyond the original loan term.