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What is the consumer responsibility when getting a credit card?
Wiki User
∙ 10y ago
The consumer's responsibility is to honor the agreement - i.e., make the payments as promised. Advice: don't run a balance; the interest rates credit card companies charge would have made the Mafia blush back in the day. Pay off the balance every month. If you don't have enough money to do so, you're spending too much!
Wiki User
∙ 10y ago
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What age should one have to get an Icici credit card?
Someone can get an Icici credit card starting at age 18. Age should not be the main consideration when getting a credit card. Credit history and responsibility are important.
Which of the following would be found on a consumers credit card?
Um, it's usually supplies and good things you need. It's like a credit card but then a consumer credit card is not secured. So there's pretty much no difference between what you buy with a credit card and a consumer credit card. Except the consumer credit card is not secure.
How many cosigners you can have on a credit CARD?
None, cause credit card companies are getting away from co-signers and joint accounts and having authorized shoppers instead. By having only authorized shoppers the full responsibility of the credit card is the Primary card holder.
What is the Difference Between a consumer credit card and a secured credit card?
A consumer credit card is issued to you on good faith that you will build debt and pay it off. A secured credit card is issued to you for the amount that you deposit into a secured savings account. The debt you charge to your card cannot exceed the amount that you have in your account. Once you show good faith that you are responsible enough to maintain your credit to debt ratio and pay your bills on time, the company may offer you a consumer card in place of the secured card. A secured credit card is a great way to establish credit.
You May Get Credit Scores From Lenders?
Lenders must provide you with credit scores and the sources upon which they were based if your loan was refused from them because of a less-than-favorable credit score. This requirement is a new ruling influenced by the Consumer Protection Act. It is mainly concerned with auto loans, mortgages, or other kinds of consumer loans. The ruling does not cover credit card rejections. The lender now has the responsibility of disclosing the consumer's credit score. It is hoped that the consumer would then seek out the full credit report from the credit report bureau.
What two steps are involved with getting a credit card?
at 2 steps are involved with getting a credit card
Can getting a new credit score affect your credit score?
If a consumer does multiple inquiries into their credit file, your score will drop, especially if your inquires are from credit card companies. The theory is: a consumer may not have enough money and needs more credit to sustain his/here lifestyle which bring in more debt, thus applying for more credit.
What is Minimum Payment?
The smallest amount of a credit card bill that a consumer can pay, to remain in good standing with the credit card company.
Can my spouse be liable for my credit card dept?
Nope.... your debts are YOUR responsibility.
Where can one find a consumer guide to credit cards?
A consumer guide for credit cards can be found online on various websites that give consumer reviews of credit card companies, such as yelp and Better Business Bureau.
Is it bad for your credit if old credit card accounts are closed by the creditor and not by you?
It is considered a derogatory mark on a consumer's credit report to have the notation "closed by credit grantor" rather than "closed by consumer".
What is the average consumer credit card debt?
The average consumer credit card debt is $15216 in the US. The average household owes $7,098 from on their cards. In total the US is owed $11.19 trillion in debt.
