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How do you borrow money with very poor credit and no bank account?
Wiki User
∙ 14y ago
with great difficulty
Wiki User
∙ 14y ago
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What is a benefit of saving money in the bank?
In certain savings account plans they have rates of interest and the more you keep your money in there, the more money you get. This is so because they borrow your money temporarily to lend others but you still have credit for that money. So you will still have your money, but the bank will give you an interest for letting them borrow your money.
What is the point of having good bank credit?
Good bank credit is part of your credit report. If you overdraft of bounce a check, those can ding your credit. When those checks bounce the banks have to cover the cost to the store which is why they penalize you a fee. How well you manage your account and your money shows people that you want to borrow money from how responsible you are.
What does cash in the bank mean?
It means you bank account is in credit, you have money to spend.
When you add money to your bank account is it debit or credit?
It's a credit. When you take money out - it's a debit.
How can you tell the difference between a credit card and a debit card?
The main difference is that with a debit card the money comes out of your checking account at the point of sell and with a credit card you borrow the money from a bank to pay back later. Interested is added to the charge by the bank so you actually pay more for what you buy.
What does debit and credit mean?
Debit is when they take from your bank. A credit is money paid into your account. But the other meaning of credit is the ability to borrow money. The more money you make and the more you use your credit and pay it off, the more credit you get.
Do I have to have money in my bank account to borrow a student loan?
In some cases, you may need to have money in a bank account to borrow student loans. However, it will be different for each person.
Are there any other agencies aside from banks that I can borrow money from?
Besides a bank, you can borrow money from a credit union. However, you must be a member of a credit union you borrow from. A bank will lend to anyone who walks off the street.
What is a benefit of saving money in the bank?
In certain savings account plans they have rates of interest and the more you keep your money in there, the more money you get. This is so because they borrow your money temporarily to lend others but you still have credit for that money. So you will still have your money, but the bank will give you an interest for letting them borrow your money.
Why is the balance as per bank statement on the bank reconciliation statement a credit if its a favorable balance but in the bank account the credit means you owe the bank money?
The Debit and Credit on a bank statement reflect the Bank's accounting records, not yours. So when you deposit money into your account, the bank owes you that money to you - it is a liability for them, therefore a credit entry. Similarly, if they charge you a bank fee, it reduces their liability to you, so they would Debit your account (on their books) and Credit an Income account.
What is the point of having good bank credit?
Good bank credit is part of your credit report. If you overdraft of bounce a check, those can ding your credit. When those checks bounce the banks have to cover the cost to the store which is why they penalize you a fee. How well you manage your account and your money shows people that you want to borrow money from how responsible you are.
Does amazon accept money from bank account?
Yes, Amazon accepts money from the bank account via the credit cards.
What does cash in the bank mean?
It means you bank account is in credit, you have money to spend.
When you add money to your bank account is it debit or credit?
It's a credit. When you take money out - it's a debit.
What is direct credit?
direct credit is money transferred from 1 bank account to another.
How can you tell the difference between a credit card and a debit card?
The main difference is that with a debit card the money comes out of your checking account at the point of sell and with a credit card you borrow the money from a bank to pay back later. Interested is added to the charge by the bank so you actually pay more for what you buy.
Can you borrow 300 with your rush card and NO bank account?
Rushcards are pre-paid cards, only the money that is loaded onto it, can be spent. You can't borrow money using it.
