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What situation would result in a credit card issuer charging a late payment fee?
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What situation would result in a credit card issuer charging a cash advance fee?
a cardholder takes out $400 from an ATM
What is the difference between letter of credit letter of guarantee?
Both Letter of Credit and Letter of Guarantee are commitment to payment by the issuer of the instrument (generally a Bank). In letter of credit, the issuer has to fulfill his commitment on fulfilling the terms and conditions of the letter of credit by the beneficiary. Whereas, on the other hand, in letter of guarantee the issuer has to make payment, when the beneficiary is unable to fulfill the terms & conditions of the letter of guarantee.
Can you reopen a credit card that was closed by the issuer?
No. The reason a credit issuer closes an account is because they no longer consider you an acceptable risk.
What is the max charge for a late credit card payment?
Penalties and fees are established by the card issuer and information can be found in the terms of the agreement made when the account was opened.
Can you use your debt card as credit?
No - a debit card and a credit card are two entirely different methods of payment. With a credit card, any purchases are immediately paid for by the card issuer to the retailer (assuming you're within your credit limit) - and the issuer charges you monthly interest on the outstanding balance until the account is paid off. With a debit card, you can only make purchases if you already have the money in your account.
What situation would result in a credit card issuer charging a cash advance fee?
a cardholder takes out $400 from an ATM
how does the credit card payment system work?
When you authenticate a payment on a card, the merchant's payment system will send a request to the card issuer to ensure that funds are available either in the account or in credit. The card issuer will supply an authentication code to the merchant approving the transaction. The card issuer will then arrange for the transfer of funds to the merchant's bank.
What is the difference between letter of credit letter of guarantee?
Both Letter of Credit and Letter of Guarantee are commitment to payment by the issuer of the instrument (generally a Bank). In letter of credit, the issuer has to fulfill his commitment on fulfilling the terms and conditions of the letter of credit by the beneficiary. Whereas, on the other hand, in letter of guarantee the issuer has to make payment, when the beneficiary is unable to fulfill the terms & conditions of the letter of guarantee.
How can I set up a regular credit card payment for my wedding dress online when ordered in store?
You set up payment schedule with your credit card issuer, not the store.
What country had the first credit card issuer?
The United States had the first credit card issuer, Diner's Club.
How does processing of credit cards work?
A credit card is a payment card. It allows the cardholder to pay for goods and services based on the holders promise to pay for them. The cardholder submits their card for payment, the card is accepted digitally for payment and the transaction is completed. The customer leaves with goods or services and then the credit card issuer will process the payment and forward a statement usually once a month to the cardholder.
What is the max charge for a late credit card payment?
Penalties and fees are established by the card issuer and information can be found in the terms of the agreement made when the account was opened.
Can you reopen a credit card that was closed by the issuer?
No. The reason a credit issuer closes an account is because they no longer consider you an acceptable risk.
If a payment is made with a stolen credit card is the payment valid?
No, a payment made with a stolen credit card is not considered valid because it involves fraud and illegal activity. It is important to report such incidents to the appropriate authorities and the credit card company to prevent further unauthorized transactions.
Can you use your debt card as credit?
No - a debit card and a credit card are two entirely different methods of payment. With a credit card, any purchases are immediately paid for by the card issuer to the retailer (assuming you're within your credit limit) - and the issuer charges you monthly interest on the outstanding balance until the account is paid off. With a debit card, you can only make purchases if you already have the money in your account.
Can getting a secured card help improve your credit rating?
A secured card is only as good at improving your credit rating as it is at reporting your payment history to the three major credit bureaus. You need to be sure that a secured card issuer reports back to the bureaus or it will be useless as a tool for helping you improve your credit rating. If the issuer doesn't report your good payments then you have lost one of the main ways of improving your credit in the first place.
What does a bond rating measure?
The likelihood that the issuer will default on payment
