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Which credit card feature determines the cost to use one credit card to pay off money on a different credit card?
The feature that determines the cost of using one credit card to pay off another is the balance transfer fee. This fee is typically a percentage of the amount being transferred, often around 3% to 5%, and can also include interest rates that apply to the transferred balance. Additionally, the annual percentage rate (APR) on the new card can impact the overall cost if the balance is not paid off within any promotional period.
What credit card cost feature determines the cost to use one credit card to pay off money?
The primary cost feature that determines the cost of using a credit card to pay off money is the interest rate, typically expressed as the Annual Percentage Rate (APR). If the balance is not paid in full by the due date, interest accrues on the remaining balance, increasing the overall cost of borrowing. Additional costs may include fees for cash advances or late payments, which can further affect the total expense of using the card. Understanding these factors is crucial for managing credit card debt effectively.
What is each credit card feature matched with its purpose A Annual percentage rate B Balance transfer 1 To build a good credit rating 2 To use one credit card to pay off money owed on a different card?
A.Annual percentage rateTo build a good credit rating.CB.Balance transferTo use one credit card to pay off money owed on a different credit card.BC.Secured cardTo use a credit card to get money from a bank machine.DD.Cash advanceTo charge interest on unpaid balances.A
How is a credit union different from a savings and loan association?
You cannot save money in a credit union
Is it possible to deposit cash into a credit card?
No, it is not possible to deposit cash directly into a credit card. Credit cards are typically used for making purchases and borrowing money, but they do not have a cash deposit feature like a bank account.
What is each credit card feature matched with its purpose A Annual percentage rate B Balance transfer 1 To build a good credit rating 2 To use one credit card to pay off money owed on a different card?
A.Annual percentage rateTo build a good credit rating.CB.Balance transferTo use one credit card to pay off money owed on a different credit card.BC.Secured cardTo use a credit card to get money from a bank machine.DD.Cash advanceTo charge interest on unpaid balances.A
How do credit card companies use a person's credit report...?
When a person applies for a car loan, mortgage or credit card, the lender determines if lending money to the consumer will be a risk. Credit scores are one way to help credit card companies make the decision to issue credit. To determine if that person should be given a loan or credit card (apex)
How is the Walmart Money Card different from a normal Visa credit card?
The Walmart money card is different from a normal Visa credit card because an individual has to deposit money on the Walmart card before he or she can purchase items with the card. Whereas the Visa credit card already has money on it, or a certain amount of credit.
How is a credit union different from a savings and loan association?
You cannot save money in a credit union
Is it possible to deposit cash into a credit card?
No, it is not possible to deposit cash directly into a credit card. Credit cards are typically used for making purchases and borrowing money, but they do not have a cash deposit feature like a bank account.
How can I transfer money using a credit card?
To transfer money using a credit card, you can use services like PayPal, Venmo, or your bank's online transfer feature. Simply link your credit card to the service, enter the recipient's information, and choose the amount to transfer. Be aware of any fees or interest charges associated with credit card transfers.
What is the meaning of credit and debit?
Debit and credit are accounting terms for different columns. A "debit card" is different from a "credit card" in that when used, the former takes money directly from your bank account. Simply i can say debit what comes in,credit what goes out. i prefer virtual credit cards.
What are types of credit processing?
There are several different types of credit processing. There is the ATM, automated teller. There you can withdraw or deposit money. Then there is a human bankteller. There you can speak with a human, and deposit or withdraw money.
What governmental body that determines how much money is in circulation by use of 3 different methods is known as?
The Federal Reserve Board.
How are credit unions different from other banks?
Credit unions are different from banks in how they handle your money and the services they provided for their customers. Credit unions are smaller, locally run and managed, and have really solid customer service. Most credit unions offer savings accounts with "passport" type kits. Each time you deposit money, they make a note in your "passport".
What are different Methods of payments?
Credit card, check, cash, money order, bank transfer...
How do you get new credit rating?
Use different details-----OR------ Save money,Be more economic etc
