answersLogoWhite
Business & Finance
The Difference Between

What are the differences between credit card and cheque?

012

Top Answer
User Avatar
Wiki User
Answered 2013-09-28 20:59:41

In the United States giving a store a check for the purchase of products is a direct debit to one's checking account when the store deposits it in their own account and it is sent to your bank.

There most be enough money in one's checking account to cover the check or it will bounce. Normally this means your bank will charge you for failing to keep enough funds in your account. The store owner will be notified and they will most likely mail you about the problem. In such a case, my personal advice is to go back to the store and pay them in cash for the product you purchased.

With a credit card, it's presented to the store and your credit card company will credit the store and charge the store about 5% for providing them the service. The customer will receive in their monthly bill from the credit card, notice of the charge and charge you interest on the money they have "loaned" you. If the credit card company is correct, you simply pay the minimum monthly balance they ask for. My personal advice is to mail the credit card company the amount of money you charged and avoid an interest charge.

001
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0

Your Answer

Related Questions


A credit card is not a cheque guarantee card. A cheque guarantee card is no longer viable and is no longer being used due to scams.


do you need credit card with cheque book in the supermarket@


The difference between a credit card and a debit card is a debit card is for money that you place in your own bank account that can be withdrawn with a personal pin number. A credit card company lends the person money and charges interest.


Usually, a corporate credit card is only used for business purposes. For example, taking a client out to lunch or dinner. A personal credit card is used for personal expenses, such as buying clothing or groceries.


I have never heard of credit card that is unsecured. So you better off check with the proper legal bank's credit card then apply for one, don't put yourself into the scam.


Dr. Credit card amount XYZ Cr. Bank Account amount XYZ


With Credit card you have to pay the credit company back later, cash is paid and over with if used.


what is the difference between credit and credit card


There's a 5% cash back on specific items, which is a much higher number than any other credit card. Other than that, they are very similar to other credit card companies.


The major difference between a Platinum credit card and a standard credit card is that with a standard credit card credit limits are lower than what they would be with a Platinum credit card. Interest rates will differ as well.


The diffference between a debt card and a credit card is ,in a debt card it's money from your account .In a credit card is when you borrow money from the bank.


you can use a credit card or cheque, depending on the company


In order to find out what the major companies are and what the differences between said companies are, you are going to have to talk to a representative from each company and ask questions in order to do a comparison.


By cheque, Money order, direct bank deposit, if they have the facility, by credit card or debit card.


Take a look at the policy or if you paid by credit card, debit card or cheque have a look at your bank statements.


A prepaid credit card is not like a prepaid debit card or gift card. Rather, it is like a normal credit card except a deposit must be made and it has a relatively low limit, which makes it less of a risk to the bank, letting you get one even if you have bad credit. It still requires timely payments to pay off the credit you accrue.


what is the difference between a credit card, debit card and smart card


credit card means post paid card debit card means pre-paid card


checking from bank fund & credit card prepaid by credit


The difference between Visa Card and Master Card is the issuing bank. Other differences include interest rates and balance transfer rates.


What is the correlation between interrest rates and credit card uasge/


To accept deposits from public,lending, withdrwalable by cheque,bailment, remittance, rtgs,neft, netbanking,debit card, credit card etc


You can make the following requests online: Apply for a Credit Card Apply for a Debit Card Order a new cheque book Stop cheque request Cheque status inquiry Intimation for loss of ATM Card Open Fixed Deposit Open a Recurring Deposit Apply for a Value Added Savings Account Apply for Phone Banking


first off, are you kidding me? give a cheque or find someone else - no one except you pays by cash. 2nd, many banks will not accept cheques made out to "cash". some might but its unlikely in this day and age. the only alternative is to draw cash from your credit card to the limit every day until you have enough.


credit card factoring is a form of cash advance between small business and the credit card companies to provide cash flow for the small business as they wait for the card purchase to clear the credit card company.



Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.