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Is line of credit available for minors?

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2011-07-14 19:21:46
2011-07-14 19:21:46

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.

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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.


According to Citi, the partial line amount is the available cash advance amount, and the credit line is the limit on the account


It means that the credit line described is still open and available for use.


It's the amount of credit on your credit card that is currently available for you to use for cash advance transactions.


A home equity line of credit, often abbreviated as HELOC, is a credit line which is backed up by a second mortgage on the home. The credit is available to the borrower at any time via a check or debit card. Anytime the homeowner spends money from that credit line, that amount becomes part of the balance on the line of credit which will need to be paid back.


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.


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.


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.


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.


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


You use up all of your available line of credit and you don't have any money left to borrow.


It appears the account includes a line of credit.


You can get a business line of credit by going to the bank and applying for a line of credit. You can also get a line of credit by going to a finance company.


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.


How much is my payoff


A line of credit is not bad by it self. It would be the balance of the line of credit that might raise some questions.


The meaning of a revolving line of credit is a line of credit that is not linked to a certain number of payments. It is the complete opposite of installment credit.


You should be eighteen years and above. Most banks do not give credit cards to minors.


The automobile assembly line and readily available credit for buying automobiles


There are too many factors in your credit score to get an easy answer. Payment history, past delinquency, debt ratio, number of open accounts, etc., all factor into it. Ratio of debt to available credit is just one component.


The advantages of a secured line of credit is that one will get a lower rate of interest as the credit is secured against a property or business. It can also be beneficial to businesses as it is continually available without the need for re-applying each time an expense or opportunity occurs.


A line of credit enables you to definitely access only as much as you'll need at any time. And, while you pay back the loan amount, that amount is instantly available to you again for new financing requirements.


sample format of letter of credit with omnibus line


Surprisingly there are several ways to obtain credit cards for minors. Energy or petrol copanies such as Shell and Exxon often open up accounts for customers with no credit history. As the credit limits are low and are settled monthly, the companies then send this information to companies like Experion. Store cards are another option as are a Company called Cardweb who can supply a secured credit card in advance of applying for a Visa card. Banks will also look at a credit card for minors if the parent is a customer of good standing.


credit is any money loaned to you including cards/installments/mortgages etc and revolving indicates a line of credit or credit card which has a limit available and you can use and pay and reuse where an installment has a specific amount and you pay it off and it closes



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