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Basically, open ended. Once again you just got to read the contract.
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∙ 16y ago
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What are the 3 categories of consumer credit?
The three types of accounts on a consumer credit report are installment accounts, revolving credit and open accounts. Credit cards are considered revolving accounts.
What is another name for open-end credit?
Revolving credit
What kind of contract is a revolving credit card account legally defined as?
It can be considered an open account or a written contract.
What is statute of limitations in AZ for credit cards?
Credit cards are considered Open Ended accounts. In Arizona, they have three years to collect or bring suit.
What are three different types of credit lines are?
open, revolving and installment
Do credit cards provide open end credit?
They have limits.
What are the state limitation in va for credit card collection?
Credit cards are considered Open Ended accounts. In Virginia, they have three years to collect or bring suit.
What is the statute of limitations on credit card debt in Hawaii?
Credit cards are considered Open Ended accounts. In Hawaii, they have six years to collect or bring suit.
How do you fix a credit score of 514?
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.
What is the SOL on credit cards in the state of Georgia?
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.
What is the statute of limitations in ct for an open ended account?
Most credit cards are considered open ended accounts. In Connecticut that would be three years from the last acknowledgement of the debt.
If you cancel a credit card without activating it will it still appear on your credit report?
No, in order to actually use the credit card you need at activate it. But many years ago when they just sent you the cards, I was 18 years (this was 1986) I got a Lazurus credit card, I never used it, just hung on it "in case". Well I just bought a house (2004) and that account is still open..lol, though there are no charges the loan officer said I had to call to have it closed out because they considered it revolving credit..lol
