In Ohio can you be liable for someone else's credit card debt if you made their minimum payment every month out of your checking and you weren't a joint card holder?
No, it does not make the non account holder legally obligated to continue payment nor assume the debt.
Can you be liable for someone else's credit card debt if you made their minimum payment every month out of your checking and you weren't a joint card holder?
What does Minimum payment in your credit card bills mean What happens if pay less than the Minimum payment?
Of these allows consumers to pay for purchases at a later date debit card credit card ATM card checking account?
Making the minimum payment on a credit card will only pay on the interest. Say you owe $500 and the Minimum payment is $20. That will be applied mostly to the interest and when the next billing cycle comes you will more then likely still have an outstanding credit line of the $500. In modern times, credit card companies are charging about 19% (Give or take) on outstanding balances. I would suggest that you always…
Can you be held liable for a deceased credit card debt if you made the minimum monthly payment for them and were not a joint holder?
Most credit card companies demand a minimum monthly payment of 5% of your balance owed. If you owe $1000 your minimum payment would be $50. You can send any amount you want. However your balance owing will steadily increase. It will only affect your credit rating. If you pay only the minimum payment each month, it will take years for you to pay your bill.
Most credit card issuers have moved to a monthly minimum payment due of 4% of the outstanding balance. For a $50,000 balance this would equate to $2,000. Some issuers only require 2% or 3% minimum payments, which would equate to $1,000 or $1,500, respectively. You would need to check with your credit card issuer to determine their particular minimum payment requirements. Check out CreditCards.com/calculators.php to look at different scenarios.
If you default on an unsecured line of credit from a bank can they take money out of your joint bank account?
A credit card is a line of credit to use and pay a minimum payment each billing cycle A charge card is a line of credit you pay in full each month or a minimum payment usually they are store card they do not have a Visa,Mastercard,AMEX,Discover logo to them. A debit card is taking the money from your checking account direclty you can use it as a credit transaction that just means it's processed…