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"Remember that credit is money" means that credit represents a financial resource that can be used for purchases, investments, or expenses, similar to cash. It signifies that borrowing or using credit is essentially accessing funds that need to be repaid later, often with interest. Thus, managing credit responsibly is crucial, as it impacts financial health and can affect future borrowing capacity. Understanding this concept helps individuals recognize the value and potential risks associated with using credit.
What else can I help you with?
Can you get get a credit card without a money income?
No. No money means you can not pay for it . A credit card is a loan from a bank with a high interest rate.
What is credit is a pecuniary contract?
credit as a pecuniary contract means the credit is always expressed in terms of money. when you buy goods on credit from a retail store or borrow money from a bank or any financing institution, it is understood that such obligation shall be paid in money.
What does credit on debit card means?
Available credit or in general credit on a Debit card means - the amount of money you have in your bank account. Lets say you have Rs. 10000 in your account then your credit is Rs. 10000 only.
What does HC mean on a credit report?
HC on a credit report means High Credit. This is the highest amount of money a creditor has issued to you in the past.
What does cash in the bank mean?
It means you bank account is in credit, you have money to spend.
Can you get get a credit card without a money income?
No. No money means you can not pay for it . A credit card is a loan from a bank with a high interest rate.
Debit means decrease and credit means increase is true?
A debit shows a asset or expense transaction, and a credit shows a liability or gain. So debit is the sum of money owing and credit is sum of money at someones disposal.
What is credit is a pecuniary contract?
credit as a pecuniary contract means the credit is always expressed in terms of money. when you buy goods on credit from a retail store or borrow money from a bank or any financing institution, it is understood that such obligation shall be paid in money.
What does credit on debit card means?
Available credit or in general credit on a Debit card means - the amount of money you have in your bank account. Lets say you have Rs. 10000 in your account then your credit is Rs. 10000 only.
What does HC mean on a credit report?
HC on a credit report means High Credit. This is the highest amount of money a creditor has issued to you in the past.
What does creditworthiness means?
Credit worthiness means if one is employed and has sufficient income or money to be able to pay back the money taken as loan
What does financed mean?
Finance means the system of money , loans , or credit , investment.
What does cash in the bank mean?
It means you bank account is in credit, you have money to spend.
What is meanby credit balance of cash book?
means u owe money
Does debit on your british gas bill mean you owe them money?
Yes. Credit means that you have overpaid and they owe you money.
What is the meaning of line of credit?
If you are talking about a personal line of credit, this means the maximum amount of money that you are allowed to charge on a credit card an one particular time.
What best describes the difference between credit and debt?
Credit measures ability to buy, while debt means money owed.
