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What does a credit department do in a bank?
credit department handles the credit granting, credit collection and credit limits of their applicants
Are there hidden costs associated with credit cards?
No. However, there are often annual fees, application fees or late fees that apply, the details of which have to be revealed to the applicant. Some have no annual fee credit cards. It is important to always read the terms & conditions and all fine print thoroughly so that you fully understand all costs associated with a particular credit card.
What are some of the costs associated with securing finance?
costs associated with securing finance
What are disadvantages of granting credit to costomers?
Granting credit to customers can lead to increased risk of default, as some customers may fail to repay their debts, resulting in financial losses for the business. It can also complicate cash flow management, as delayed payments can strain liquidity and hinder operations. Additionally, extending credit requires administrative resources for monitoring accounts and collections, which can increase operational costs. Lastly, it may lead to a potential negative impact on customer relationships if payment disputes arise.
Does borrower have to pay credit linked note fee?
Yes, a borrower may be required to pay fees associated with a credit-linked note (CLN) as part of the overall transaction costs. These fees can include upfront costs, ongoing management fees, or performance-related fees that are outlined in the terms of the CLN. It's important for borrowers to carefully review the terms and conditions associated with the CLN to understand their financial obligations fully.
What does a credit department do in a bank?
credit department handles the credit granting, credit collection and credit limits of their applicants
What does the granting of credit depend on?
Granting credit typically depends upon three factors: character of the borrower, capacity to repay, and capital used as collateral
Does the optimal credit policy minimizes the total cost of granting credit?
Yes
Are there hidden costs associated with credit cards?
No. However, there are often annual fees, application fees or late fees that apply, the details of which have to be revealed to the applicant. Some have no annual fee credit cards. It is important to always read the terms & conditions and all fine print thoroughly so that you fully understand all costs associated with a particular credit card.
How much does a gm credit card cost monthly?
Costs associated with credit cards are based on percentages and depend invariably upon how much you have credited to them. Unfortunately there is no easy answer; however, if you have good credit it may cost nothing.
What are some of the costs associated with securing finance?
costs associated with securing finance
What are disadvantages of granting credit to costomers?
Granting credit to customers can lead to increased risk of default, as some customers may fail to repay their debts, resulting in financial losses for the business. It can also complicate cash flow management, as delayed payments can strain liquidity and hinder operations. Additionally, extending credit requires administrative resources for monitoring accounts and collections, which can increase operational costs. Lastly, it may lead to a potential negative impact on customer relationships if payment disputes arise.
Where can I find my credit report score?
You are correct that banks often check your credit score before granting a loan. There are many companies that offer your credit score including http://www.myfreecreditreport.com
What is the function of credit reporting agencies?
Credit reporting agencies keep files of information on all consumers who have made credit transactions at some point in their lives. Credit granting institutions may purchase these files
Does borrower have to pay credit linked note fee?
Yes, a borrower may be required to pay fees associated with a credit-linked note (CLN) as part of the overall transaction costs. These fees can include upfront costs, ongoing management fees, or performance-related fees that are outlined in the terms of the CLN. It's important for borrowers to carefully review the terms and conditions associated with the CLN to understand their financial obligations fully.
Explanation letter for show cause notice?
not conducting credit investigation to the client before granting the loan
What is the accounting double entry for granting staff loans?
[Debit] Staff loans [Credit] Cash / bank
