0
No minors are not able to get credit for a number of reasons. One work experience, Two,still in school,and they need to build a work history. The parents are still responsible for them till there of legal age.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What is the difference between line of credit and revolving credit?
A line of credit is one type of revolving credit, which works similarly to a credit card. Both a line of credit and revolving credit have a set amount available to use, and when you pay down or pay off the amount, the credit is available for you to use again. A line of credit may use collateral to secure the loan, such as a business building, or it may be unsecured or without collateral, such as a credit card.
On credit card what is difference between initial credit line and partial line amount?
According to Citi, the partial line amount is the available cash advance amount, and the credit line is the limit on the account
What does it mean when a credit inquiry says open?
It means that the credit line described is still open and available for use.
What Does Cash Credit Line Availability Mean?
It's the amount of credit on your credit card that is currently available for you to use for cash advance transactions.
What is the meaning of 'to max out' a credit card?
You use up all of your available line of credit and you don't have any money left to borrow.
Does a home equity line of credit count against your equity when refinancing?
Yes, if you have used any of the credit available to you. For example, if you have used $10,000 of a $20,000 line of credit then you have to add that $10K to the balance of the total owed on the property.
What does the company Creditline deal in?
No company named Creditline could be found. A credit line is the amount of credit available to a consumer or business on a credit card or bank account.
If you take out a line of credit for emergencies but never use it how will this affect your credit rating?
Your credit score can be impacted by available credit. Available credit being the amount of debt you could owe, if used. To use the amount, occasionally, and pay the funds back immediately will help you build a repayment history.
What is credit and what is debt?
Credit is having a certain amount of money available on a pre-approved line. Debt is what happens when you use that line of credit and have to repay the money with interest. It is better to save up the money and pay cash or use debit
Why would an available balance be higher than current balance?
It appears the account includes a line of credit.
How can one obtain a credit card approval online?
One can obtain credit card approval through many credit lending companies on the internet. Whether it is a personal line of credit, or a credit card, these resources are widely available online.
Do recorded mortgages need an amount?
No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.
