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Yes (personal experience), in some, but not all, cases. If you've authorized it, or if the bank that holds your regular accounts is also the issuer of the credit card, then yes, they can take money from your regular accounts to bring your credit card payments up to date if you are behind in your payments. They can usually only take enough to bring the minimum payment up to date though.
Have a look at the credit agreement you signed when you applied for the credit card; It's in the fine print. So is a description of what circumstances must occur before they can do it.
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Who do I owe money to credit card or bank if I get a credit card?
You owe the money to the credit card company. Some credit card companies are part of banks or they allow their credit cards to be used through a bank, but they are specific entities in their own right.
How do you make a debt on doodle god?
Bank + Money = Debt Money+ House = Bank Gold + Paper= Money
What credit card companies offer cash advances?
There are a number of credit card companies that offer cash advances to customers. One can get them from Citi credit cards, Commonwealth Bank Credit card and the HSBC Credit Card.
When you use a credit card on playstation network for money does the card lose money?
Technically no, normally a credit card puts things 'on credit'. Your bank is paying for the PSN credit. But you now have to repay the bank sometime. (Credit cards can be loaded with funds, that money would be spent if used in the above way, and you would not be in debt to your bank).
Can you purchase a money order with a credit card at a bank?
no
Where can one find instant credit card processing companies?
Someone can find instant credit card processing companies by visiting their local bank branches. Each bank can perform instant credit card processing procedures for approved individuals and businesses.
Can you get get a credit card without a money income?
No. No money means you can not pay for it . A credit card is a loan from a bank with a high interest rate.
How do banks make money from credit card companies?
Banks Making Money Off Credit Card CompaniesIf a bank agrees to take your deposit, they don't keep it all in the bank. Because only a small percentage of the bank customers will demand their money at any given time, a percentage of all deposits, called vault cash, is kept on hand. The rest is loaned out, so that it can earn interest. Some of this cash is loaned to credit card companies, so that they can finance the purchases their customers make, until the customer pays the credit card company back. Actually, most credit card companies are organized as banks, so that they are regulated in a different way than regular companies. Because of the way the American accounting system works, the more money that is owed a company or a bank, the more that the company or the bank is worth. Even though the debt may be uncollectable, it can still be shown as an asset on a balance sheet. So, the more money that the credit card company can loan out, the more money the credit card company is worth. (on paper.) This is why we are constantly receiving offers for credit cards, even if we have just declared bankruptcy.To read more, visit:http://www.tradingstocks.net/html/banks_create_money.html
What is better Debit card or Credit Card?
I prefer debit card but if you like the bank giving you money then paying it back then it credit card for you . If you have debit card is like your whole bank in your wallet :)
What is a balance transfer?
A balance transfer is when you have money in one bank and transfer that money to another bank. It is also when you have a balance on one credit card and transfer the balance to another credit card.
Does debit card build credit?
A debit card is a card that takes money straight out of the bank, however, a credit card lets you borrow money, but you must pay interest. So, a debit card does not build credit.
What credit card companies offer cash rewards?
Several credit card companies offer cash rewards including CIBC cash back credit card, Scotia Bank Rewards card and PC Financial Credit Card. Other companies with cash rewards for their credit cards include Blue Class Preferred Card American Express and Chase Freedom Visa.
