Monthly Archives: October 2011

The APR: apples to apples

Now let’s discuss what was innovative about the APR back when it became a mandated disclosure, and why it’s so important in allowing you to shop for the best credit deal. Before you ever heard of the APR, you knew … Continue reading

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The Annual Percentage Rate: the real cost of credit

The other conspicuous disclosure on every Truth-in-Lending disclosure form is the Annual Percentage Rate, or APR.  Expressed as a percentage (%), the APR is defined as “the cost of your credit as a yearly rate.” Behind this seemingly simple definition … Continue reading

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The Finance Charge: your “price tag” for credit

On every TILA form two disclosures are especially conspicuous, printed in larger and bolder type than the others:  the Finance Charge and the Annual Percentage Rate (APR).  The Finance Charge, expressed in dollars and cents,  is defined as “the sum … Continue reading

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Time for the Orrall exam

I interrupt this consumer education to bring you a rant,  occasioned by a recent  special election for state representative here in southeastern Massachusetts.   The newly elected representative is Keiko Orrall.  A Republican living in the town of Lakeville, she introduces … Continue reading

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