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Is it legal for a credit card company to double the amount borrowed if you fall back on payments?
Wiki User
∙ 7y ago
Credit card companies can charge what they like in fees. It's up to the user to make sure they use the card responsibly - and not default n payments. However - doubling the amount owed on the card is rare !
Wiki User
∙ 7y ago
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What can you do about a mortgage company that does not report your on-time payments?
Call the mortgage company and ask why the payments are not being reported (its illegal to NOT report payments) Further, you can call the credit bureaus, and they will request the information from the mortgage company. Realize, that in some instances credit reporting can be suspended.
Can you close your credit card account and continue to make payments?
No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments
How will a deferred student loan affect your credit?
They do not help you establish credit. You have borrowed, but don't owe, so there's no information about the way you'll handle payments over time.
What is credit limit in credit card?
Credit cards are open ended accounts. The issuing bank has a limit as to how much can be borrowed against the account. The top amount is the credit limit.
Can you hand a car back to the finance company when you have paid off more than half the amount borrowed?
You can but it will still negatively effect your credit score. It is better to voluntarily turn it over then have it repossesed.
Why don't the credit card company put my payments towards the past due amount?
coz ur an idiot ;)
What is a pre-established amount that can be borrowed on demand?
Line of credit
What can you do about a mortgage company that does not report your on-time payments?
Call the mortgage company and ask why the payments are not being reported (its illegal to NOT report payments) Further, you can call the credit bureaus, and they will request the information from the mortgage company. Realize, that in some instances credit reporting can be suspended.
What is triggered when it is noticed that an unusual amount of money is being spent on your credit card?
The bank or credit card company may stop further payments and ask whether you are spending the money or a criminal?
Can you close your credit card account and continue to make payments?
No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments
How will a deferred student loan affect your credit?
They do not help you establish credit. You have borrowed, but don't owe, so there's no information about the way you'll handle payments over time.
What company has the lowest interest credit cards?
Interest fees vary depending on the credit card company. Most companies apply interest based on your credit score and credit history. To obtain a lower interest rate, increase your monthly payments or make payments more frequently. The more payments you make the lower your interest will be.
What is credit limit in credit card?
Credit cards are open ended accounts. The issuing bank has a limit as to how much can be borrowed against the account. The top amount is the credit limit.
Where can free software be found to allow a company to accept credit cards?
Several websites offer services where a company can accept credit card payments for free. The Site Wizard is one site that will guide one on how to accept credit card payments on their website.
Can you hand a car back to the finance company when you have paid off more than half the amount borrowed?
You can but it will still negatively effect your credit score. It is better to voluntarily turn it over then have it repossesed.
How do you record in your accounting system the transaction of buying a car on credit?
Debit full price of car to Vehicles (fixed asset account) Debit Other Taxes expense for the registration fees Credit Loan Payable (liability account) for the total amount borrowed (not the total of the loan payments, just the principal) Credit Cash for any down payment
Can a credit card company take money out of your account without an electronic signature and without your approval even if you cancel the transaction?
Generally, no, unless you cancel the transaction after the fact. If you have made a payment to the credit card company and cancel after the time the transaction was made, yes, the credit card company may take money out of your checking/savings account. If you made some mistake when using your credit card which resulted in a fee or finance charge, the credit card company may put that amount on your credit card bill but may not take the amount out of your checking/savings account unless you specifically ask them to. If you have automatic payments set up, the credit card company may honor those instructions until you send them a WRITTEN request to change the setup. Most card companies allow you to bypass the written component and change automatic payments online.
