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Is it legal for a credit card company to lower your credit limit below your balance then charge you an over the limit fee?
Wiki User
∙ 14y ago
no it isn,t you can ue for that offence if they did
Wiki User
∙ 14y ago
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How to fix auto loan charge off?
What do you mean by "fix" it? Do you want this taken off of your credit report? Was the loan legitimately charged off? Do you still owe a balance on the loan? If you have a legitimate charge off reported on your credit report, it cannot be legally removed. If you owe a balance and the charge off is recent, paying off the balance could help. However, the charge off will still show on your credit report for 7 years, and only time will remove it. Still, if you keep your credit in good shape otherwise, the charge off will hurt you less and less as time goes by. Read more about your credit report and score in the link below.
When will the bank charge you for falling below the minimum balance?
at the end of the next business day
Can a credit card limit be reduced below your outstanding balance without your consent?
Yes, especially if you keep it at the max, or do not pay it as agreed.
Will your checking account be closed if you fall below the minimum balance required?
Usually No. the bank will charge you a penalty fee for letting your balance go below the minimum amount. However if you repeat the same continuously the bank may close your checking account.
Does the free annual credit report include the credit score?
Actually, you don't get a free credit score when you request for your free annual credit report. The government allows the credit agencies to charge a nominal fee for the credit score.There are, however, certain instances when you can get your credit score for free:if you're applying for a mortgage, you can ask the lender to tell you what your score isif you've been denied credit and the score was a major factor in the decision, you can contact the credit company, ask why your application was disapproved, and ask for your credit score as wellif you have a credit card with a company that offers the free credit score as a privilege for cad holders, you can access your credit score online through their websiteCheck out the links below for more information on getting your credit score.
How many points will your credit score go up when you pay a minimum amount due off a credit card?
It depends on other factors, you should pay the credit card ontime. keep in mind that you must reduce the balance of your credit cards to 30% and below of your credit limit. If you have a credit card with a $5,000 limit, your balance reported to the credit bureau should be $1500 and under in order to have a excellent credit score. If you go over this amount it will affect what is called your "utilization rate." Credit score formulas respond favorable to utilization 30% and below. It's a good idea to assess all of your credit cards and align them correctly with this formula. Source Credit Bible by Phil Turner.
How do you download LimeWire free without a credit card?
The LimeWire software can be downloaded free of charge from their download page (See links below).
Match each fee below with the situation where a credit card customer would get charged.?
Potential Matches:1 : You use a new credit card to pay off the $2,000 you owe on another credit card. 2 : You use your credit card to take out $200 in cash from an ATM. 3 : You forget to send in your minimum monthly payment one month. 4 : You charge $800 on a credit card that has a $500 spending cap. Answer : Balance transfer fee : Cash advance fee : Late payment fee : Overlimit fee
Financial Accounting ACC 225 week 2 Check Point Debits and Credits Indicate whether a debit or credit decreases the normal balance of each what accounts?
Credit decreases the normal balance of Office Supplies account For full detailed answer, you can download at the reference link below Enjoy
When is petty cash fund always replenished?
Based on a company's policies, petty cash could be replenished periodically or when the balance drops below a certain level. For example, it might be company policy to replenish petty cash once a month or even once a month. More often, however, it will be company policy to keep the petty cash balance above a certain figure, say $100. Whenever the balance drops below $100, then it will be replenished.
How high credit cards affect your credit score?
High Credit card balance affect your credit score negatively. See, the debt to credit ratio makes up 10% of your credit score. This means the amount of money you owe on a credit line. The more you owe, the worse it hurts your credit (maxed out cards do the most damage). It is recommended to try to be below 30% of your line of credit.
How much is the average minimum payment for a credit card?
Usually 10 - 15 % of the balance. If you want to make sure that your credit and credit score continues to increase each month then follow these steps: 1) Stay below 50% of the High Credit Limit on your revolving accounts (credit cards). For example: If you have a Discover card with a high credit limit of $2,000 stay below $1,000 as your balance and make the minimum payment each month. You can also pay this account in full each month if you are using it on a regular basis. 2) It is important that you have active credit. Credit cards that you are using on a monthly basis, and making on time payments on. The activity of these payments, and staying below this limit will increase your score. Remember, never borrrow more than what you can afford! Credit is there to help you not hurt you. Good Luck!
