0
Do you get a 1099 form for the balance of a credit card charge off?
Wiki User
∙ 16y ago
Yes. A 1099 C
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
What does it mean to transfer credit card balance?
To transfer a credit card balance means to use the available credit on one credit card to pay off the balance of another credit card. This is often done by credit card holders to pay back a balance at a lower rate.
What future implacations does a charged out credit card balance have and what does charged out mean?
Charged out means you cant charge any more on your card, & the furer implications it will have is it will slowly make your credit bad credit till you pay your credit card off where their is no more out standing balanc.
When might someone see 'credit card 0 balance transfer' on their statement?
'Credit Card 0 Balance Transfer' would appear on your credit card statement if your credit card is paid off in full. This means that you do not have to transfer any money from your bank account to pay off your credit card balance.
What are some causes of 0 credit card balance?
Having a credit card balance of zero on a credit card is a good thing. It means one has no debts to the credit card company, which also means that no additional interests will be charged. If one either has not used a credit card or has paid all open debts and interests, they would have a credit card balance of zero.
How is a charge card different from a credit card?
A charge card you have to pay the full balance at the end of the month. You can buy as much as you want, but you must pay at the end of the month. A credit card will give you a limit of $xxxx and you can pay that off over years and build the interest until you can never pay it off. So essentially you can buy a yaht with a charge card but not a credit card. The downside to the charge card is the fact that if you cant pay up in full every month, they will gut you worse than a credit card would. Also, charge cards carry an annual fee for their generous rewards points and the risk they incur by backing you.
Difference between charge card and credit card?
Credit Cards vs. Charge Cards Many people use the terms credit card and charge card interchangeably, but there are important differences. In general, a credit card lets you make purchases for which you are billed later. Most credit card accounts allow you to carry a balance from one billing cycle to the next; however, you have to pay interest on that balance. Usually, you have to pay at least a certain amount of your balance each time you receive a bill. A charge card is a specific kind of credit card. The balance on a charge card account is payable in full when the statement is received and cannot be rolled over from one billing to the next. Because you cannot carry a balance, a charge card doesn't have a periodic or annual percentage rate, so there is no rate for a charge card issuer to disclose. (info is from some website somewhere on google)
Monique's previous credit card balance is 199.26 and she has a monthly finance charge of 1.5 How much will the credit card company assess in finance charges on this balance?
$2.99
What is done with the finance charge assessed by a credit card company?
added to the balance
What is done with the finance charge done by a credit card company?
added to the balance
Sara had a previous balance of 449.13 carried over from last months credit card bill The credit card company assessed a 6.74 finance charge What is Saras new balance?
$455.87, assuming Sara has not made any additional charges on her card since receiving the previous credit card bill. When a credit card company assesses a finance charge, the finance charge ($6.74) is added to the existing balance ($449.13) to arrive at a new balance ($455.87). As an aside, if possible, Sara should revolve (carry) her balance on a credit card that charges a lower rate since the $6.74 finance charge represents 18% (17.7%) on an annualized basis.
Find the new balance on Cory's credit card His previous balance was 225.16 His finance charge was 3.38?
228.54
Will PayPal use my balance then charge my credit card if there's not enough on my balance?
If you have 100$ in your paypal balance and the thing you want to buy costs 150$. Paypal needs you to add a credit card to your paypal account before purchase. And then you can afford it. The money is charged from the credit card.
What is the finance charge on a credit card balance of 3299.19 at a monthly rate of 1.2?
$39.59
Sara had a previous balance of 449.13 carried over from last month's credit card bill The credit card company assessed a 6.74 finance charge What is Sara's new balance?
455.87
What does no balance transfer fees mean exactly?
An individual may wish to transfer the balance of one credit card onto another. This is generally done when an offer on the original credit card is ending, or if the APR is higher than the new card. Often when doing this, the new credit card company may charge a fee, generally 1-5% of the balance transfer. When it says no balance transfer fee, it means there is no extra charge for a balance transfer.
What are the benefits of low credit card balance transfers?
Take advantage of low credit card balance rates. For example, why pay 24 percent on three separate credit cards when you could pay 15 percent interest on one card? Credit card issuers typically charge a balance transfer fee. This is typically around 3 to 5 percent of the balance you transfer.
Protects you when applying to receive credit?
Calculate the finance charge on a credit card balance of 3,299.19 at a monthly rate of 1.2%.
