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What does standby fee mean in financial management?
A standby fee in financial management refers to a charge incurred by a borrower for having access to a line of credit or loan that is not currently being utilized. This fee compensates the lender for reserving the funds for the borrower, ensuring they can draw on the credit when needed. It is commonly associated with loan agreements and credit facilities, providing lenders with a form of income even when the borrower is not actively using the funds.
What are some of the low interest Visa credit cards available?
Depending on the country of issue, there are usually many options available. Most options have to do with promotions or are linked to one's credit rating and may have an annual fee.
What does an annual fee mean with credit cards?
The annual fee of a credit card is a charge applied once yearly. This charge is the cost of having the credit card. There are many credit cards available that do not charge a fee. The credit cards that do charge a fee often offer rewards, like travel.
What is an annual credit card fee?
Its a fee the credit card company charges you yearly for using their money
What is an overdraft protection fee?
An overdraft protection fee is a fee assessed to your account when: 1. You have set up overdraft protection for your checking account, usually in the form of a savings account or line of credit/credit card; and 2. You spend more money than you have in your checking account. Overdraft protection transfers money from the linked savings account or line of credit/credit card in order to pay for the expenses that you did not have enough money for in your checking account. There is a fee for this transfer, but it is usually much less - sometimes a savings of 50% - than an insufficient funds fee, which you receive when you spend more money than you have and do not have overdraft protection.
What does standby fee mean in financial management?
A standby fee in financial management refers to a charge incurred by a borrower for having access to a line of credit or loan that is not currently being utilized. This fee compensates the lender for reserving the funds for the borrower, ensuring they can draw on the credit when needed. It is commonly associated with loan agreements and credit facilities, providing lenders with a form of income even when the borrower is not actively using the funds.
What is a term that refer to the fee a lender charges the borrower for lending money?
The fee is known as charging interest.
What are some of the low interest Visa credit cards available?
Depending on the country of issue, there are usually many options available. Most options have to do with promotions or are linked to one's credit rating and may have an annual fee.
What is a type of fee that a credit card company might charge?
credit limit fee
What does an annual fee mean with credit cards?
The annual fee of a credit card is a charge applied once yearly. This charge is the cost of having the credit card. There are many credit cards available that do not charge a fee. The credit cards that do charge a fee often offer rewards, like travel.
What is a backing fee?
A backing fee is a charge applied by a financial institution or service provider to cover the costs associated with securing or backing a financial transaction or service. This fee may be related to loans, credit facilities, or guarantees, and is intended to compensate the provider for the risk involved in supporting the transaction. It can vary based on factors such as the creditworthiness of the borrower and the complexity of the transaction.
What is an annual credit card fee?
Its a fee the credit card company charges you yearly for using their money
What is an overdraft protection fee?
An overdraft protection fee is a fee assessed to your account when: 1. You have set up overdraft protection for your checking account, usually in the form of a savings account or line of credit/credit card; and 2. You spend more money than you have in your checking account. Overdraft protection transfers money from the linked savings account or line of credit/credit card in order to pay for the expenses that you did not have enough money for in your checking account. There is a fee for this transfer, but it is usually much less - sometimes a savings of 50% - than an insufficient funds fee, which you receive when you spend more money than you have and do not have overdraft protection.
When might one pay a credit card processing fee?
In order to obtain a credit card one must pay a credit card processing fee. A credit card processing fee is the amount in which is due at the time of purchasing ones credit card.
Where can I find a no fee credit card?
You can find a no fee credit card at www.CreditCards.com/No_Fees . The site has the top credit cards that has no annual fee and the site let you compare and apply online. http://www.creditimes.com/0-apr-credit-cards.html
What happens when you dont pay the credit fee that is due every month?
If you don't pay the credit fee or payment each month, your credit will suffer.
What is the journal entry for 'Received Fee Income in cash'?
[Debit] Cash / bank [Credit] Fee income
