0
Credit Line payments are payments that you make monthly on a line of credit that you have with your local bank. Many line of credits are based on the equity in your home, but they usually charge much lower rates than a traditional bank loan.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What is the meaning of revolving line of credit?
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.
Does Chase on line accept credit card payments?
Chase online does accept credit card payments. You must set it up through their paymentech program. This starts by applying for a merchant account in order to proceed.
What is RC loan?
RC loan refers to Revolving Credit Loan. Revolving Credit is a line of credit, which maybe used whenever a company needs funds. Usually, such credit doesn't have fixed number of payments.
How do you get business credit?
Business credit - is usually granted by being swift with payments for goods or services. Once a business sees a pattern of regular, prompt payments - they can consider you a 'safe risk' for a line od credit. Once granted - you should use the credit wisely. Never let the 'grace' period expire - as it will affect your credit score.
How do you add if you can your apartment rent payments to your credit score?
Your landlord would have to report payments to the credit bureau.
Equity Line of Credit Payments?
Equity Line of Credit Payments For a ten year draw period, this calculator helps determine both your interest-only payments and the impact of choosing to make additional principal payments.
What is the meaning of revolving line of credit?
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.
Where can I find calculators for Credit Line Payments?
Any mortgage company would be able to calculate the payments for you. Banks and credit unions are also a good place to start, if you want to do it yourself then the internet will have site you can use.
Does Chase on line accept credit card payments?
Chase online does accept credit card payments. You must set it up through their paymentech program. This starts by applying for a merchant account in order to proceed.
Do credit cards instantly debit a bank account when a transaction occurs?
When a transaction occurs, a credit card does not instantly debit a bank account. Since a credit card is linked to a line of credit, it is dependent on the user to make individual payments in order to replenish that credit line.
Making Credit Line Payments?
To understand payments made on a credit line, you must first understand what a credit line is. Basically, a credit line is the amount of money that a will be loaned to you by a bank or financial institution. Many businesses have revolving credit lines with their bank. For a consumer, a credit line may be a charge account at a store or a consumer credit card spending limit. All of these things are considered a credit line. When a payment is calculated for a credit line, generally interest is added to the outstanding balance and then a percentage of the amount is set for the minimum payment amount. The outstanding balance can consist of purchases and fees for using the credit line. When the minimum payment is received, the credit line once again increases by that amount of the payment. For example, if the payment is $100, then the credit line will be increased by that $100 that had been previously unavailable. For a business, a credit line is used when there are temporary cash shortages, known as liquidity problems. The credit line provides the business with necessary cash to continue doing business. As the business improves and cash flow is restored, the business pays back the amount that was used during that time, usually with interest. Credit lines are vital to businesses even during prosperous times. They can be used as a guarantee of payment or can be used as collateral when attempting to secure financing for a large purchase. Credit line payments are made to restore the maximum amount available or to comply with the agreement between the corporation or individual and the financial institution. Credit lines are set based on the ability to repay the amount as well as the current financial situation in general. Banks are less willing to provide an open line of credit during financial hardships. By maintaining a low balance and making minimum payments on a personal credit line, gradually one will see the amount available be increased. As the bank or financial institution develops more faith in the individual and the individual makes minimum payments and does not go over the amount, credit lines are increased allowing the consumer more freedom for purchases.
What is RC loan?
RC loan refers to Revolving Credit Loan. Revolving Credit is a line of credit, which maybe used whenever a company needs funds. Usually, such credit doesn't have fixed number of payments.
How do you get business credit?
Business credit - is usually granted by being swift with payments for goods or services. Once a business sees a pattern of regular, prompt payments - they can consider you a 'safe risk' for a line od credit. Once granted - you should use the credit wisely. Never let the 'grace' period expire - as it will affect your credit score.
Where do you get help for financial institutions to understand what determines a credit score?
How your FICO score is determined is a will kept secret- but the main factors are how long you have had credit, the % of each credit line you have used, and late payments
How do you add if you can your apartment rent payments to your credit score?
Your landlord would have to report payments to the credit bureau.
If you have a line of credit are you still able to get a loan?
in actual fact it may even be easier as long as you haven't defaulted on any payments.
Should Carson obtain funds to cover payments for supplies by selling its holdings of treasury securities or by using its credit line?
yes
