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What are the functions of credit?
A credit analyst is the one who evaluates the credit worthiness of individuals and businesses. They make decision about customer credit applications using different criter…ia that includes credit viability, customer payment history and purpose of application.
It allows you to buy things with future money (money you haven't got yet), AND it allows the lender to make money from your impatience. (a LOT of money).
The functions of the credit control department include the effective and efficient control and collection of all income and debt management.
Credit Rating Agencies rate the credit-worthiness of securities instruments. The reason for doing so is for investors to gain confidence that what they are buying i…s what they think it is. The big players in the industry (pension/insurance funds) have mandates which prevents them from investing in securities below a certain rating. You could say that they act as a means of protecting society from excessive speculation using 'social' funds (pension/insurance) by fund managers who are out to speculate short term by taking excessive risk. Duncan of Canary Wharf
The main function of the international credit market is to make profit. Another function is to ensure that the local currency value is not brought down.
The fees and interest on credit provide a bank with substantial income.
The credit department's main function is to lend money. There are several roles and responsibilities that go along with this. Assessing the potential loss risk of the loanDev…eloping and adhering to lending policiesUnderstanding of lending lawsKnowledge of in house lending proceduresAnalyze the financial condition of the borrowerSecuring collateral and guaranteesCollecting proper documentation
a Credit Officer will take a loan application, check out your credit, and if you qualify will see to it that your request is granted.
Credit cards are issued to customers of companies who offer lines of credit. The card can be used to make purchases or payments in stores and online. Debit cards on the ot…her hand are issued by banks or prepaid debit card companies. They have the same role as a credit card allowing consumers to make payments or purchases in stores and online, but can also be used to withdrawal money from an ATM.
Credit reporting agencies keep files of information on all consumers who have made credit transactions at some point in their lives. Credit granting institutions may purchase …these files
Functions of credit note
A credit union is a not for profit organization that works just like a bank and both banks and credit unions have the same primary function....to make a profit by pooling you …deposits and investing it for a better return then they pay you, chargeing intrest on loans and chargeing fees. Basicly they make money with your money, yet it is what they do with these profits where the two differ.... instead of profits being paid out to greedy shareholders like banks they are given back to the members in the form of lower interest rates on loans and and higher returns on deposits. So, in turn the function of a credit union (In oppose to a traditional bank) would be to benefit the members of the credit union with the money saved by not paying a dividend out to shareholders (like banks) and are run by a voluntary board of directors. James Bohlert Jbohlert@yahoo.com
Credit services can help get you out of debt or try to get you a loan if you really need one or need help trying to get one. Credit services can also help build up your credit… if you have a bad credit history.
Depending on criteria for 'system'. Credit is currency in Capitalism. In general; credit works under the premise of time value of money, and an understanding of a 'risk'. Th…e amount of 'credit' a system can hold would be maximized by the largest amount of credit obtained with out overexerting (being crushed by the weight of the debt). In an ideal financial system credit would be used on 'one in a million' opportunities/deals/interests, and never used to fund Operations costs.
The function of a credit card terminal is to provide a trader with the tools to allow a customer or consumer to pay for services or goods through credit cards as the credit ca…rd terminal allows for transaction through credit cards.
A credit card company act as a 'liaison' between the customer andthe business. The customer presents their credit card to theretailer - and the card company pays the retailer …for the goods thecustomer has purchased. The card company charges the customerinterest each month on the outstanding balance - in payment for theconvenience of being able to make (often expensive) purchases,without having to h=cary large amount of cash.