pier one credit card interest rate

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Pier one credit card interest rate

Pier one credit card interest rate -

Does Pier One have online shopping? Roughly 540 brick-and-mortar stores and its online operations shuttered last fall. Online sales, however, are now in full force for Pier 1. You can find plenty of the brand’s “classics” on sale, along with up to 30% off on Valentine’s Day decor.

Is Pier 1 Imports still open? Why Is Pier 1 Closing? Pier 1 filed for bankruptcy early on in 2020. It also tried and failed to find a buyer for the business. Because of COVID-19, the chain will be closing all stores still remaining in the United States—not half of their stores, as was announced earlier in 2020.

Is Pier One still open in Canada? The chain filed for bankruptcy protection in February and said at the time it hoped to find a buyer for the business, which at the time included 50 stores in Canada and almost 500 in the U.S. On Tuesday the company announced those efforts had failed to find a buyer, so it will instead shut down the business entirely.

Can you still order from Pier One? Pier1.com has relaunched as an online-only store for home furnishings and accessories. The $31 million purchase in July included Pier 1′s intellectual property, trademark name, customer lists and other e-commerce related assets.

Does Pier One have online shopping? – Related Questions

Is Pier One furniture high quality?

Pier 1 stores collect the top-notch pieces of furniture and home interior elements across the world to bring them to their US and Canada stores. An average product of Pier 1 store is a good quality item for the money you pay.

Is Pier One online closing?

After acquiring Pier 1’s trademark name, intellectual property, data and e-commerce assets, new owner Retail Ecommerce Ventures (REV) is relaunching the retail brand as an online store, according to a Thursday press release. Pier 1 closed its brick-and-mortar stores earlier this year as part of its bankruptcy plan.

Is Pier 1 closing permanently?

Pier 1 is officially closing up shop after receiving approval from a bankruptcy court to cease and liquidate its retail operations. The troubled home goods retailer had its plans authorized Friday to begin liquidation sales across its 500 remaining stores once they can reopen.

Are Pier One credit cards still good?

Can I still use my card? Your account will no longer be accepted as a form of payment as of . As of , My Pier 1 Rewards cardholders may no longer earn points for purchases and no new certificates will be issued. All credit card benefits and offers have been discontinued.

Does Pier One have a credit card?

All You Need to Know About Pier One Credit Card: Benefits and Features. First, you can only use a Pier One credit card at Pier One stores or the retailer’s website. This is a store-only card, not a traditional credit card (Visa, Mastercard or American Express) that you can use all over the world.

Who owns Radio Shack?

Miami-based Retail Ecommerce Ventures LLC, led by Chief Executive Alex Mehr and Executive Chairman Tai Lopez, bought the rights to the RadioShack brand in the U.S., Canada, India, Australia, Europe and China, along with related websites, for an undisclosed price last week.

Who bought Pier One?

Pier 1 Imports is back. Well sort of. The new Pier1 will operate as an e-commerce business. Retail Ecommerce Ventures, the investment firm that acquired the rights to Pier 1′s trademark name, intellectual property, data and various ecommerce-related assets for $31 million in July relaunched Pier1.com on Thursday.

How long does Pier 1 take to ship?

Pier 1 offers in-home delivery from their store locations. They have a flat rate of $169 for your entire order. Delivery of most orders usually takes 21 days to arrive after the order is placed.

Why is Pier 1 closing?

Pier 1 said it will go out of business and permanently close all 540 of its stores. The Texas-based company said Tuesday that it was unable to find a buyer for its business after filing for bankruptcy protection earlier this year.

Is Bed Bath and Beyond closing?

Bed Bath & Beyond is closing more than 40 stores this year. Bed Bath & Beyond is in the process of liquidating dozens of stores, as part of its previously announced plans to close roughly 200 locations by 2022.

Is Pier One back in business?

Home decor retailer Pier 1 has officially made a comeback by relaunching its online store after filing for Chapter 11 bankruptcy and ceasing all operations. Its e-commerce store relaunched in October, according to a report by RetailDive.

Did Dress Barn go out of business?

Did dressbarn go out of business? No, dressbarn is still in business and continues to happily serve the community and our loyal customers online! Although our physical retail locations are now closed, you can continue to shop for the same high-quality products with exceptional customer service on dressbarn.com.

What bank does pier one use?

Pier 1 works with multiple partners. Synchrony is the primary lender and they are the bank behind the primary offer presented.

Can I use my Pier One credit card at other stores?

Pier 1 Gift Cards can be used at any of our 1,000+ store locations in the United States and Canada, and on Pier1.com, for any merchandise purchase. Pier 1 Gift Cards cannot be redeemed for cash or be used as payment on Pier 1 Rewards credit cards.

How do I cancel Pier One?

You may opt out of receiving promotional mail, emails and/or text messages from us by sending an email to [email protected] or letter to Pier 1 Imports Online, Inc., Attn: Customer Service, 1680 Michigan Ave, Ste 700, Miami Beach, FL 33139.

Is RadioShack still in business 2020?

In November 2020, RadioShack’s intellectual property and its remaining operations—about 400 independent authorized dealers, about 80 Hobbytown USA affiliate stores, and its online sales operation—were purchased by Retail Ecommerce Ventures (REV), a Florida-based company that had previously purchased defunct retailers

Does Circuit City still exist?

Circuit City made a comeback in 2018. Under its new owner, Ronny Shmoel, Circuit City planned to open kiosks, stores within other stores and eventually its own showrooms. The brand is still alive but it’s far from being a behemoth it was twelve years ago.

Is RadioShack still in business 2021?

The good news is that as of today RadioShack has officially been purchased by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. REV says they plan to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021.

Where did Pier One get their products?

Cost Plus Imports became Pier 1 Imports in 1966, selling unusual home goods and furnishings from India and Southeast Asia.

Is Bed Bath and Beyond going out of business in 2020?

Last July, Bed Bath & Beyond Inc. officials said 200 of its namesake stores were expected to close over the next two years, accounting for approximately 21% of its Bed Bath & Beyond stores. In September, the company announced 63 of the 200 stores would close by the end of 2020.

Is Bath and Body Works going out of business in 2020?

Bath & Body Works ended up closing 30 U.S. stores in 2020 and opened 26 new stores outside of malls, a new top-tier mall location and remodeled 29. The company had been working on about 200 real estate projects a year but says it pulled back during the pandemic.

Источник: https://cementanswers.com/does-pier-one-have-online-shopping/

Pier 1 Goods and Services definition

Related to Pier 1 Goods and Services

Goods and Services or "goods or services" means any work, labor, commodities, equipment, materials, or supplies of any tangible or intangible nature, except real property or any interest therein, provided or performed through a contract awarded by a purchasing agent, including goods and property subject to N.J.S.A. 12A:2-101 et seq.

Integrated Goods and Services Tax Act means the Integrated Goods and Services Tax Act, 2017;

Products and Services means the products and/or services to be sold by Vendor hereunder as identified and described on Attachment A hereto and incorporated herein, as may be updated from time to time by Vendor to reflect products and/or services offered by Vendor generally to its customers.

Broadband Services means Verizon's Fios or DSL-based Internet services (whichever applies). Verizon's DSL-based Internet service is also known as "High Speed Internet" ("HSI").

Goods and Services Tax (GST) shall mean any tax payable on the supply of goods, services or other things in accordance with the provisions of GST Law.

Supplementary aids and services means aids, services, and other supports that are provided in regular education classes, other education-related settings and in extracurricular and nonacademic settings to enable students with disabilities to be educated with nondisabled students to the maximum extent appropriate in accordance with the least restrictive environment.

Online Services means Microsoft-hosted services to which Customer subscribes under this Agreement. It does not include software and services provided under separate license terms.

Support Services means Support Services provided by GroundSure including, without limitation, interpreting third party and in-house environmental data, providing environmental support advice, undertaking environmental audits and assessments, Site investigation, Site monitoring and related items.

Video lottery terminal sales agent means a lottery sales agent licensed under Chapter 3770. of the ORC to conduct video lottery terminals on behalf of the state pursuant to Section 3770.21 of the ORC.

Finished Services means complete end-to-end services offered by CenturyLink to wholesale customers or retail End User Customers. Finished Services do not include Unbundled Network Elements or combinations of Unbundled Network Elements. Finished Services include Access Services, private lines, retail services, and resold services.

Marijuana wholesaler means a person who purchases marijuana items in this state for resale to a person other than a consumer.

Mobile food vendor means every corporation, association, joint stock association, person, firm or partnership, their lessees, directors, receivers, trustees, appointees by any court whatsoever, or the heirs, executors, administrators, or personal representatives or assignees of any deceased owner, owning, controlling, operating or managing any mobile food vending unit.

Retail pharmacy means any pharmacy where drugs are compounded, dispensed, stored or sold or where prescriptions are filled or dispensed to the general public.

Marijuana retailer means a person who sells marijuana items to a consumer in this state.

Retail marijuana store means an entity licensed to purchase marijuana from marijuana cultivation facilities and marijuana and marijuana products from marijuana product manufacturing facilities and to sell marijuana and marijuana products to consumers.

Cloud Services means SAP’s then-current cloud services offered under and described in detail in the applicable SAP PartnerEdge Model.

Hospice services means symptom and pain management to a terminally ill individual, and emotional, spiritual and bereavement services for the individual and their family in a place of temporary or permanent residence, and may include the provision of home health and home care services for the terminally ill individual.

Integrated Services Digital Network (ISDN means a switched network service that provides end-to-end digital connectivity for the simultaneous transmission of voice and data. Basic Rate Interface-ISDN (BRI-ISDN) provides for a digital transmission of two (2) 64 Kbps bearer channels and one (1) 16 Kbps data channel (2B+D).

Tobacco products means cigars, cigarettes, cheroots, stogies, periques, granulated, plug cut, crimp cut, ready rubbed, and other smoking tobacco, snuff, snuff flour, moist snuff, cavendish, ping and twist tobacco, fine-cut and other chewing tobaccos, shorts, refuse scraps, clippings, cuttings and sweepings of tobacco, and other kinds and forms of tobacco, prepared in such manner as to be suitable for chewing or smoking in a pipe or otherwise, or both for chewing and smoking.

Universal Digital Loop Carrier (UDLC means the DLC system that has a CO terminal channel bank that is connected to the CO switches on the analog side.

Home health aide services means those tasks that are provided to a patient by a home health aide under the direction of a registered nurse or therapist.

Genetic services means a genetic test, genetic counseling (including obtaining, interpreting, or assessing genetic information), or genetic education.

Integrated Services Digital Network (ISDN) means a switched network service that provides end-to-end digital connectivity for the simultaneous transmission of voice and data. Basic Rate Interface-ISDN (BRI-ISDN) provides for a digital transmission of two 64 Kbps bearer channels and one 16 Kbps data channel (2B+D).

the Products means all products and associated documentation to be supplied under this Contract;

Marijuana products means concentrated marijuana products and marijuana products that are comprised of marijuana and other ingredients and are intended for use or consumption, such as, but not limited to, edible products, ointments, and tinctures.

Mobile Services means the provision of services in relation to mobile telephony.

Источник: https://www.lawinsider.com/dictionary/pier-1-goods-and-services

Can a First-Time Home Buyer Get a Jumbo Loan? Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision. If you’re not booking flights or hotels, you can still redeem your rewards toward Amazon.com purchases or Capital One Experiences like VIP tickets and culinary events. How to Negotiate with Creditors for a Lower Debt Settlement, How Auto Insurance Works? ... but they are still digging themselves out of the hole they unnecessarily created more than a … What Are Different Types of Credit Cards? You can use your Gift Card at Pier 1 Imports U.S. stores and pier1.com. Called the number on back on card and was - 4177145 - 2 How To Get a Personal Loan With Fair Credit, How to Use a Personal Loan to Build Credit. My Pier 1 Rewards Credit Card Accounts are issued by Comenity Bank. You get a few store perks, and you’ll earn 5% cash back in points that you can use at Pier1 Imports. Here’s the good news: Pier 1 has relaunched as an online retailer. Emily adores both food and writing, so combining those passions as a writer for Taste of Home makes perfect sense. If your now-closed store credit card had a $2,000 credit limit, you may go from having, say, $10,000 in total credit available across all your other cards to $8,000 in total credit available. I have a $200 gift card from pier 1 on the back it states "gift card has no expiration date" nothing states that at ANY time the gift card wouldn't be usable. Bumped to $1,500.00 upon activation. Amazon.com Gift Card in Various Gift Boxes. While Pier One stores are still open, the company is not allowing any gift card to be used, 30 days after each store reopened after the COVID-19 shutdown. When does the Gift Card expire? IRS Tax Debt Relief Program: What Is It and Do You Qualify? *SuperMoney is not responsible for third party products, services, sites, recommendations, endorsements, reviews, etc. Bed Bath and Beyond Gift Card. Check it My Pier 1 Rewards Credit Card - Secure Communication - Comenity Min. ... Amazon Business Line of Credit; Shop with Points; Credit Card Marketplace; Reload Your Balance; Amazon Currency Converter; Let Us Help You. Get a free consultation from a leading tax expert, View all personal credit cards offered by Comenity, Please write a review to submit your vote, Compare Business Checking Accounts Reviews, Complete Guide to Certificates of Deposit. 1-800-767-3662 (TDD/TTY: 1-800-695-1788) Warning! Please note that if you opt-out of OBA, you may still receive online advertising from us on third party sites. Redeemed Rewards Certificates are not refundable. "It’s best to use gift cards as soon as possible so they don’t get lost or misplaced. You can also apply for Pier 1 credit cards online, so you can shop ‘til you drop without ever leaving the comfort of your home. Recipes from real home cooks, tested in our kitchens and delivered right to your inbox! Marshall’s just reopened its online store, and so did T.J. Maxx, so you don’t even have to leave the house to shop (and that’s the best way to buy stuff at a time like this). And when you do sign someone up for a card, there is no commission on it, so it does not benefit you in any way whatsoever. Opting out from third party advertising companies means that the advertisements you receive will not be based on your preferences or behavior. You may be able to continue to use your store credit credit card if the retailer is simply closing some locations or shifting online. All of my other Comenity accounts are betwen 2.8k -8.5k. If your now-closed store credit card had a $2,000 credit limit, you may go from having, say, $10,000 in total credit available across all your other cards to $8,000 in total credit available. Please explain your vote by sharing your experience. Pros and Cons of Refinancing Your Mortgage, Questions to Ask Before Refinancing Your Mortgage, Complete Guide to Student Loan Refinancing, SuperMoney's Student Loan Refinance Marketplace, How To Get The Best Student Loan Refinance Rates. The worst online company to order from . Promotional Credit Plan Details: Deferred Interest, Payment Required. Due to the Pier 1 bankruptcy proceedings the My Pier 1 Rewards Credit Card program will be discontinued. Should You Use a HELOC to Pay Off Credit Card Debt? Complete Guide to Personal Lines of Credit. ... We’re still collecting data to inform category such as Age, Disability, Sexual Orientation, and Veteran Status. So, with any other outstanding balances, your debt-to-available-credit ratio will suddenly rise, which could hurt your credit score. Questions & Answers about Pier 1 Cards. If you would like to extend your session please choose "Continue Session" or click "End Session" to end your session. Advertiser Disclosure. Payments made online before 6 p.m. Pier 1 has filed for bankruptcy and will be liquidating and closing all stores. Because of COVID-19, the chain will be closing all stores still remaining in the United States—not half of their stores, as was announced earlier in 2020. Regardless of which Pier One Imports credit card you use, you'll be able to manage your account online. Select Pier 1 stores reopened on May 22 for going-out-of-business sales. Compare real offers from multiple lenders. On purchases of $750 or more made with your Pottery Barn Credit Card. I ordered a chair I was sent a ups tracking number. 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Retailer gone bankrupt? What retail card holders should do

Although the trend of retail store closings has been going on for years, the coronavirus pandemic is likely to make it worse.

Lockdowns that have shut down retail store locations while keeping consumers at home don’t bode well for retail outlets. Pier 1 Imports and Papyrus are among the well-known names that filed for bankruptcy early in 2020, even before the pandemic impact was felt in the U.S., and other chains such as J. Crew and Neiman Marcus soon followed.

Retail store bankruptcies boomed in 2017

Since the beginning of 2017, retailers such as Macy’s, Sears and J.C. Penney have closed stores across the country, though those cardholders can still use their cards online or in other locations.

The year 2017 set a record for retail store bankruptcies, with 662 retailers declaring bankruptcy. Some retailers have continued to do business during bankruptcy and hope to emerge.

The toy chain Toys R Us, for example, declared bankruptcy in 2017 and announced in March 2018 it would close its U.S. stores. However, it was able to open up with a smaller-store format in 2019. Others do not make the transition.

But retailers aren’t the only ones taking a hit. Some consumers left holding credit cards for bankrupt stores could be in for a rude awakening as well.

“If you’re a credit card holder at a company that goes out of business it’s all bad news,” says Mike Sullivan, a personal finance consultant at Phoenix-based credit counseling organization Take Charge America.

Not only do you lose one of your lines of credit if the card is closed, which may cause a dip in your credit score, but you could also lose any card-related rewards that you may have carefully stacked up.

See related: How to cancel a credit card without hurting your score

What retail card holders should expect if a retailer goes bankrupt

  • Any balance you have on a bankrupt retailer’s card must still be paid.
  • Cardholders will receive communication from the retailer or finance company telling them where to send payments.
  • You may be given a certain amount of time to redeem rewards or they may be gone entirely.
  • Your card most likely will be closed by the issuer, which could negatively impact your credit score if you’re carrying balances on other cards by boosting your overall credit utilization. If the retailer managed its own cards, it will also likely sell off your debt to a third party.
  • You can offset any credit damage by paying other card bills on time and reducing balances.
  • It’s also possible that you will be allowed to use your card at the bankrupt company’s associate companies if there are any.

You’ll be contacted by a finance company

So where does that leave a store credit card holder when the store goes belly up? For those who have a balance on the card, they don’t get a free pass from paying what they owe.

Generally, retailers work with a finance company to issue their retail store credit cards, says Colleen Kennedy Thiry, a spokeswoman for TransUnion, one of the three big credit bureaus.

“In the event of a retail company bankruptcy, the finance company would continue to maintain the card portfolio,” Kennedy says.

Finance companies typically contact cardholders to let them know about how the retailer’s bankruptcy might affect them, including any changes on where to send payments.

“We understand the sense of uncertainty – and even loss – a consumer may feel when their favorite store closes or the brand goes out of business entirely,” says Tammy McConnaughey, chief enterprise credit officer for Alliance Data’s card services business.

Alliance Data’s Comenity Bank division issues credit cards for such brands as Ann Taylor, David’s Bridal and Crate and Barrel.

“As the bank managing the credit card, we are committed to communicating openly and clearly to card members during the process,” McConnaughey adds.

Tip: A retail store card can be a good option if you’re building credit or seeking to improve a low credit score. But be aware that retail cards tend to have higher APRs than general-purpose cards. And they often advertise deferred interest deals that can be costly if you can’t pay off a big purchase within a set time frame.

You still have to pay back any balance you owe

However, the finance company will continue to collect on the debt as it did before.

“Cardholders continue to receive billing statements and are required to make monthly payments until their balance is paid in full,” says Mason Burnham, a former spokesman for Synchrony Financial, which manages the credit card programs of such retailers as Conn’s and Rooms to Go.

In some cases, finance companies may work with customers to establish payment plans if a customer needs one or suggest other credit card options once the account is closed. Consumers may also have to redeem credit card rewards by a certain date or else they will lose them.

However, Sullivan points out that the finance company is primarily focused on getting the debt repaid rather than keeping you as a long-term customer, so it may be more aggressive about collections if you’re late to pay.

In some cases, a retail store manages its own credit card portfolio, Kennedy says. In that case, the portfolio would typically be sold off during the bankruptcy proceedings. Any cardholders would receive information about where to send their payments, but again, they would still be responsible for any outstanding debt.

See related: Closed account affects your credit score, but maybe not how you think

How can a retail store closing affect your credit score?

Perhaps of more concern to a bankrupt store’s cardholder is the effect of a closed card on their credit score.

Once the balance on a credit card of a store that has filed for bankruptcy has been paid, the merchant or finance company will close the account. Your credit report will say that the account was closed by the creditor.

If you close the account before the creditor does, it will state that the account was closed by the consumer. Neither of those actions, however, will reflect badly to future lenders.

But any time a credit account is closed, your credit score may be negatively impacted, particularly if you have other credit cards with balances. A major factor in your credit score is the credit utilization rate, which looks at the amount of outstanding debt you have in relation to the amount of credit you have available.

If your now-closed store credit card had a $2,000 credit limit, you may go from having, say, $10,000 in total credit available across all your other cards to $8,000 in total credit available. So, with any other outstanding balances, your debt-to-available-credit ratio will suddenly rise, which could hurt your credit score.

Closing the store card account could also hurt your credit score in another way down the road. The length of your credit history factors into your credit score. If the store credit card is one of your longest-held accounts, you’re eliminating that history when the account is closed, Sullivan points out.

“So assuming that the history was positive and you had a good relationship with that company, you’ve taken another hit.”

However, the activity with that account will remain on your credit reports for 10 years, even as a closed account, so the hit won’t happen overnight and should be minimal, provided you have other active credit products contributing positive information during that time.

See related: How to build good credit

Bottom line

The good news is any decline in your credit score when a retailer goes under is likely to be temporary, and by paying your bills on time and otherwise using credit responsibly you can build up your score. There will also be other retailers willing to woo consumers with credit cards.

“With the evolving retail landscape, some stores are closing, but many others are finding new opportunities to grow in the current climate,” McConnaughey says. “Consumers should feel confident in continuing to take advantage of the perks and benefits made possible through these types of branded credit and loyalty solutions.”

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

Tamara E. Holmes is a freelance journalist who has written extensively about personal finance, health and business. She has reported and edited for print and online news organizations for more than 15 years, with her work appearing in numerous magazines, newspapers and websites.

Poonkulali Thangavelu is a senior staff reporter at CreditCards.com. She focuses on legislation and regulation, discerning how public and private policies impact card users. She has extensive journalism experience covering personal finance and business topics and likes to simplify such subjects to enable readers to make good decisions. Poonkulali is also the author of CreditCards.com's bi-weekly "Fine Print" column. Her career includes a stint doing consumer market research for global advertising agency Ogilvy & Mather.

Источник: https://www.creditcards.com/credit-card-news/retailer-gone-bankrupt-what-cardholders-should-do/

Final Verdict

All of the best peer-to-peer lending websites on our list have different things to offer. Some have high maximum loan amounts and others have more lenient minimum credit score requirements and fast funding times. Overall, we recommend checking out Peerform because the company offers competitive rates and no prepayment penalties. 

Compare The Best Peer-to-Peer Lending

CompanyStarting Interest Rate Minimum Credit Score Loan Terms (range) Maximum Loan Amount 
Peerform
Best Rates
5.99%6003-5 years$25,000
Upstart 
Best for Borrowers With Limited Credit History
8.27% 600 3-5 years $50,000 
Prosper 
Best for Borrowers With Established Credit History
7.95% 640 3-5 years $40,000 
Funding Circle 
Best for Small Businesses
11.29% 6606 months to 5 years $500,000 
Payoff 
Best for Fair Credit
5.99% 640 24-60 months $40,000 

Guide to Choosing the Best Peer-to-Peer Lending Websites

Is Peer-to-Peer Lending Right for You?

You will want to explore different types of lenders and prioritize your needs to see if peer-to-peer lending websites are right for you. Consider things like how much you need or want to borrow and how quickly you need access to the funds. You should also determine what the loan will be used for and if this fits into one of the P2P lending guidelines. 

Comparing Peer-to-Peer Lending Websites 

You should compare peer-to-peer lending websites, so you choose the one that best suits your needs. It’s important to consider if the P2P website lends in your state and if you meet their credit score requirements. You will also want to compare interest rates, loan amounts, fees, and funding times. 

Choosing Peer-to-Peer Lending Websites

When choosing peer-to-peer lending websites, there are some important things that you should consider. Things to think about when choosing the right website for you include:

  • Application process: Know what kind of documents you will need to submit and if you can complete the process online. 
  • Time to funding: You may need the funds immediately so it’s important to find how long it will take to fund the loan. 
  • Loan amounts: What are the minimum and maximum loan amounts? Do they offer the amount you need?
  • Borrower qualifications: Know what qualifications you need to meet to get a loan. These can include things like income and credit score. 
  • Fees: Besides the interest rate, what fees are you going to pay? When do you need to pay them?

What Is Peer-to-Peer Lending?

Peer-to-peer (P2P) lending, sometimes called “social” or “crowd” lending, is a type of financing that connects people or entities willing to loan money with people or businesses that want to borrow money. As an alternative to traditional financing, a financial tech company (aka fintech) creates an online platform that matches loan applicants directly with investors.

Your rate and terms (and whether you qualify in the first place) are still based on common factors that other lenders consider. For example, your credit score, credit history, and income will each play a big role in your ability to qualify for a P2P loan and the price you pay for financing if you do.

If you have excellent credit, sufficient income, and a low DTI ratio, you might find a good deal on a P2P loan. However, if you have credit problems or other borrowing challenges, finding a competitive loan offer (or even qualifying at all) may be a challenge.

How Does Peer-to-Peer Lending Work?

When you apply for a P2P loan, the process typically involves the following steps.

  1. You complete and submit an online application. This step will usually include a credit inquiry—either soft or hard. 
  2. The lending platform may assign you a risk category or grade. Your rating will impact the interest rate and terms you’re offered. If you’re satisfied with an offer, you can opt to move forward. 
  3. Investors review your loan request. You can include details such as how you plan to spend the money or why loaning money to you is a good risk. Your story may improve your odds of receiving funding. Depending on how the P2P platform is structured, lenders may make bids to win your business. However, your loan request might also be passed over. 
  4. You accept the loan. If an investor makes a bid that you’re happy with, you can review the terms and accept the loan. Depending on the platform, the funds could be deposited into your bank account as soon as the same day or within a week. 
  5. You make monthly payments. In general, P2P lenders report accounts to the credit bureaus like traditional lenders, so late payments could hurt your credit score. Late payments may also come with late fees that increase your overall cost of borrowing.

Types of Loans Available Through Peer-to-Peer Lending

P2P loans can be used for many of the same purposes as personal loans. Here are a few of the loan types you may find on popular P2P websites. 

  • Personal Loans
  • Home Improvement Loans
  • Auto Loans
  • Student Loans
  • Medical Loans
  • Business Loans

The Investing Side of Peer-to-Peer Lending

P2P lending can potentially help investors earn extra income and diversify their portfolios.

P2P investing appeals to many people who are looking to make their savings work for them. When all goes well, P2P investors may enjoy a higher return on their money versus what they would gain in a high-yield savings account, certificate of deposit (CD), or other investments.

Becoming a P2P investor begins with applying to open an account on a P2P lending platform. If you are approved, you deposit money that will be loaned out through the platform to qualified borrowers. You can review loan requests (along with applicant risk grades) and choose the applications you’d like to approve, either providing the full loan amount or a portion of it.

Through the platform, you can track your earnings from principal and interest as your borrowers make their payments. You can cash out your earnings (you’ll likely have to pay taxes on them) or reinvest.

Keep in mind that there’s risk involved, as with any investment. First, there’s no guarantee your borrowers will repay as promised (whether the platform goes after delinquents, and to what extent, is something to check out in advance). There’s also a potential hazard that the lending platform itself could shut down. In either case you might lose a substantial portion of your investment, especially if the loan you financed was unsecured. 

Is Peer-to-Peer Lending the Right Fit?

A P2P loan may be a good fit for those who can’t qualify with conventional lenders or who simply prefer to explore alternative financing sources. Still, bear in mind that despite the fashionable fintech setup, the P2P loan process isn’t considerably different from the traditional one: The most creditworthy applicants will typically qualify for the lowest rates and best terms. Trying to improve your credit may work in your favor. In the meantime, shopping around for the best P2P deal may help you save money.

Methodology

To find the best peer-to-peer lending websites, we researched dozens of the top websites and compared them based on several important factors including interest rates, fees, and qualification requirements. We also considered overall company reputation, repayment terms, and minimum and maximum loan amounts.

Compare Personal Loan Rates With Our Partners At Fiona.com

Источник: https://www.investopedia.com/articles/investing/092315/7-best-peertopeer-lending-websites.asp

» The Pier 1 Imports Credit Card Review

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Pier 1 Imports Credit Card

Pier 1 Imports Credit Card

Searching for a Pier 1 Imports credit card? You may find the following review helpful in your decision. Pier 1 Imports is a Texas-based furniture and décor retailer who specialize in providing unique, quirky and creative products. Their buyers search the world for the most interesting furniture and furnishings, which means exotic and interesting purchases that are hard to find anywhere else. The Pier 1 imports credit card is now available, and with it you can gain plenty of rewards for making purchases at this chain. This guide covers the basics of the card, its rewards and bonuses, terms and conditions, and information on making a Pier 1 Imports Credit Card payment at the bottom.

The Pier 1 Imports Credit Card

Pier 1 offers a Rewards Credit Card program which a range of benefits to maximize savings in store and online. You can opt for the basic store card or you can upgrade to the platinum card and receive extra rewards.

When you apply for the Pier 1 Rewards Credit Card, you will instantly receive a 20% voucher to use on any purchase you would like. The card has a point scheme which awards you 1 point for every dollar you spend, and when you reach 200 points you will receive a $10 voucher. You also get special birthday gifts and exclusive savings across many different furniture ranges. With the platinum account you receive a special 10% discount for any purchases made on the card on the first Tuesday of every month, platinum birthday presents, and special bonus reward opportunities. You must spend at least $1,000 annually to have a platinum membership.

Purchase APR is 26.99% which will vary according to the Prime Rate. Minimum interest charge is $2. No annual fee. Late payment and returned payment fees are up to $35. The grace period for paying off your balance in full and receiving no interest is 25 days.

There are a number of options for paying your credit card bills. You can also pay your bill online with the Pier 1 online account service which lets you manage your account in general, update your details and request a credit limit increase. With this service you can arrange a transfer from a checking account, or schedule a future payment.

Источник: https://firstcredit.net/the-pier-1-imports-credit-card/
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