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What is the minimum balance for which a credit card company will sue you?
Wiki User
∙ 19y ago
There is no set amount that determines if a lawsuit will be inacted. One of the major factors is the collectibility of the debt. If the consumer/debtor has a job, non-exempt assests and lives in a state where the lender can recover legal expenses then a lawsuit is very likely. Several states allow arbitration as another of option of debt settlement/collection.
Wiki User
∙ 19y ago
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Why is it unwise to pay minimum credit on your credit card?
Paying only the minimum due on your credit card balance maximizes the amount of interest you will pay to the credit card company. This is why it is better to pay as much of your balance as you can each billing cycle - it saves you money by reducing the amount of interest you pay. Also, depending on the terms of your credit card agreement, paying the minimum can actually make your principal balance increase. The minimum payment may not cover the amount of interest due.
What is a balance transfer with regards to credit cards?
A balance transfer is when an amount owing on one credit card is transferred to another credit card. This is usually done to take advantage of lower interest charges. A credit card company usually specifies a minimum/maximum amount you can transfer.
What is outstandanding balance in a credit card?
The outstanding balance is very simply the amount of debt that you have charged on the credit card. You owe that amount to the credit card company.
How do I transfer the balance on my credit cards?
You will have to talk to you credit card company. They will be able to assist you in transferring your balance on your credit cards.
What happens when you over pay on a credit card?
When you over pay a credit card, you have then a "credit balance." This means, in essense, the credit card company owes you money. You can either have them send you a check to pay off the difference, or the credit balance will be eliminated when/if you use your card again.
Why is it unwise to pay minimum credit on your credit card?
Paying only the minimum due on your credit card balance maximizes the amount of interest you will pay to the credit card company. This is why it is better to pay as much of your balance as you can each billing cycle - it saves you money by reducing the amount of interest you pay. Also, depending on the terms of your credit card agreement, paying the minimum can actually make your principal balance increase. The minimum payment may not cover the amount of interest due.
What is a balance transfer with regards to credit cards?
A balance transfer is when an amount owing on one credit card is transferred to another credit card. This is usually done to take advantage of lower interest charges. A credit card company usually specifies a minimum/maximum amount you can transfer.
What is outstandanding balance in a credit card?
The outstanding balance is very simply the amount of debt that you have charged on the credit card. You owe that amount to the credit card company.
Can you call your credit card company and pay off the balance by giving them the number for another credit card and charging the balance onto that card?
No, they have to offer you the balance transfer.
Reginald's credit card statement states that his balance is 550 What does the term balance mean?
The 'balance' of his statement is the monetary value of his account with the credit card company. In this case it is the amount he owes the company.
How do I transfer the balance on my credit cards?
You will have to talk to you credit card company. They will be able to assist you in transferring your balance on your credit cards.
What does Balance on company credit card represents?
it denotes the amount of unpaid purchases on the card.
How can you check credit card balance?
Contact the card company - either by phone or on-line !
What are some causes of 0 credit card balance?
Having a credit card balance of zero on a credit card is a good thing. It means one has no debts to the credit card company, which also means that no additional interests will be charged. If one either has not used a credit card or has paid all open debts and interests, they would have a credit card balance of zero.
What is a credit card balance A?
It is the balance on your account, indicating either how much money you owe or if you have some money in the account.
What happens when you over pay on a credit card?
When you over pay a credit card, you have then a "credit balance." This means, in essense, the credit card company owes you money. You can either have them send you a check to pay off the difference, or the credit balance will be eliminated when/if you use your card again.
How would one define a credit card balance transfer?
A credit card balance transfer means one can transfer the balance of one credit card into another. One can transfer either all the funds or only a portion. For further information, one can contact the credit card company.
