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With bank credit, you are buying it - and making monthly payments to the bank which loaned you the money. With hire/purchase, you are buying it on a month-by-month basis, and paying the person who owns it once a month, until it is "paid off" and you then own it. Surprisingly, "hire/purchase" frequently turns out to be the more expensive of the two in the long run.
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What is the difference between a bank loan and a bank credit?
What is the difference between bank loan and bank credit?
What is the difference between debit and credit?
Debit - purchase deducted from your bank account Credit - gets put on a bill, and you pay it later
Difference between buyers credit and letter of credit?
Buyer's credit is extended to finance the purchase of goods or services. A letter of credit guarantees that a payment will be received. If the buyer doesn't make a payment, the bank has to pay.
What is the difference between a Bank guarantee and standby letter of credit?
nothing
What is the difference between credit and debt?
credit is money and dept is where you owe someone or the bank alot of money did this help you?
What is the difference between a bank loan and a bank credit?
What is the difference between bank loan and bank credit?
What is the difference between debit and credit?
Debit - purchase deducted from your bank account Credit - gets put on a bill, and you pay it later
Difference between buyers credit and letter of credit?
Buyer's credit is extended to finance the purchase of goods or services. A letter of credit guarantees that a payment will be received. If the buyer doesn't make a payment, the bank has to pay.
What is the difference between a Bank guarantee and standby letter of credit?
nothing
What is the difference between a checking account and credit card account?
checking from bank fund & credit card prepaid by credit
What is the difference between credit and debt?
credit is money and dept is where you owe someone or the bank alot of money did this help you?
What is the difference between credit sales and accounts payable?
Credit sales referes to sales and accounts payable referes to bank
What are the three difference between a bank and a credit union?
A bank holds and stores money, and a credit union is for a temporary holding for money, and your only suppose to have a certain amount of money in the credit union
What is the difference between allowing customers to purchase goods on credit and allowing them to use their credit card?
Credit card is just a card you get from your bank with extra benefits(interest rates, online purchases, etc)and you can have your own money (positive +balance) on the card. Buying on credit is purchasing goods with money that's not yours(-balance). Eg: buying a car through a bank etc..
What is the difference between credit agency and credit bureau?
A credit agency is a company that give you credit. for example : cibc, scotia bank other credit cards. bank loans, secured loans etc. A credit bureau, is where your credit information is kept, equifax etc. hope this helped.
Can you purchase a money order with a credit card at a bank?
no
What is the essential difference in accepting credit cards in transacting business compared with accepting debit card?
When you purchase with credit cards, the transaction is on credit while when you purchase with debit card, the transaction is considered cash sale because the amount is directly deducted from your bank account.
