Basically, open ended. Once again you just got to read the contract.
The three types of accounts on a consumer credit report are installment accounts, revolving credit and open accounts. Credit cards are considered revolving accounts.
Revolving credit
It can be considered an open account or a written contract.
Credit cards are considered Open Ended accounts. In Arizona, they have three years to collect or bring suit.
open, revolving and installment
Of course you have to open an account or a credit cards for you to be able to get a credit score. I personally get a credit cards and check my three credit report from different bureaus.
They have limits.
Credit cards are considered Open Ended accounts. In Virginia, they have three years to collect or bring suit.
Credit cards are considered Open Ended accounts. In Hawaii, they have six years to collect or bring suit.
1> Pay your bills on time. 2> Reduce the number of open accounts that are revolving accounts. 3> Reduce the number of inquires for you credit. 4> Keep low balance on your credit cards. You would have to stay consistent doing this for 2 to 3 years.
Yes, it is possible to open two credit cards in one day, but it may not be advisable as it can impact your credit score and financial stability.
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Georgia it is 6 years. That is usually measured from the last use or payment.