Industrial Bank of Japan ended in 2002.
A secured credit card is a pay to play system. That is you must bank a certain amount with the issuing bank before you may use the card. If that balance is met or exceeded, your ability to use the card will end. An unsecured card is a type of loan; you may use the card up to your assigned limit with no penalty (other than that outlined in the credit agreement).
When you use a debit card, it uses the money you have deposited in your account to make payments. When you use a credit card, the bank lends you money to make the payment, and you have to pay it by the end of the month (with interests).
closed-end credit :)
Open end credit means khullam khulla udhar lena band.Closed end credit means chup k udhar lena band
Good credit is always helpful, but, not the be all and end all. Good credit will effect your rate and how much down a bank will demand. Also, income is another factor that will be assessed.
Open end credit means khullam khulla udhar lena band.Closed end credit means chup k udhar lena band
Debit cards involve taking money instantly from its associated bank account. You cannot spend morethan the overdraft allows you to. Credit cards involve buy now and pay later idea. You could buy a TV today and pay for it at the end of the month (If you dont have enough, expect to see interest on payments). With credit cards, you simply get an invoice at the end of the month (and should simply be avoided). Cash is simply the money you have in your hand, and comes directly from the bank account.
credit card means post paid card debit card means pre-paid card
Your house or car are purchased using closed-end credit, which is credit that must be paid in full by a date certain.
Revolving credit
They have limits.