Citi Platinum Select Card



0% APR on Purchases and Balance Transfers For 6 months
After 6 months, purchase APR as low as a variable 11.99% based on your application and credit history
$0 Liability on unauthorized purchases
Online Discounts with Extra Cash from Citi
No Annual Fee

The immediate cause of the crisis was the bursting of the United States housing bubble which reached its peak in approximately 2005–2006. High default rates on "subprime" and adjustable rate mortgages (ARM), began to increase quickly thereafter. An increase in loan incentives such as easy initial terms and a long-term trend of rising housing prices had encouraged borrowers to give out problematic loans in the belief they would be able to quickly refinance at more favorable terms. However, once interest rates began to rise and housing prices started to drop moderately in 2006–2007 in many parts of the U.S., refinancing became more difficult. Defaults and foreclosure activity went up dramatically as easy initial terms expired, home prices failed to go up as expected, and ARM interest rates reset higher.

Companies and governments issue bonds to fund their day-to-day operations or to finance specific projects. When you buy a bond, you are loaning your money for a certain period of time to the issuer, be it McDonalds or Uncle Sam.

In exchange, the borrower promises to pay you interest every year and to return your money at "maturity," when the loan comes due, or at "call" if the bond is of the type that can be called earlier than its maturity . The length of time to maturity is called the "term."

A bond's face value, or price when issued, is known as its "par value." Its interest payment is known as its "coupon."

Capital One® No Hassle Miles(SM) Rewards - Excellent Credit



Interest Rate*: 13.90% Variable
Intro Rate: 0% on Purchases Until May 2010
Grace Period: 25 Days
Credit Limit: N/A
Annual Fee: None