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If i use my bank account as a credit reference on a application can they look at your balances?
Banks respond with an AVERAGE BALANCE (either over the last year or the last three months, depending on the bank). Whether that balance is reported on one specific account or an aggregate of your accounts will depend on the bank in question or perhaps what information you provided on the credit application. Many banks will not provide a referance unless the requestor submits your account number and your signed authorization.
What else can I help you with?
Which accounts normally have credit balances?
All liabilities as well as sales account has credit balance as normal accounting balances.
Do revenues have a credit or debit balances?
Revenue is an Owners Equity account therefore has a Credit Balance:
Does your credit report contain your bank account?
No, your credit report does not contain specific information about your bank accounts, such as account numbers or balances. Instead, it focuses on your credit history, including credit accounts, payment history, and any outstanding debts. However, lenders may consider your banking history when assessing your creditworthiness during the application process.
A bank has reused your application to open an account due to your credit score What can you do to remove it?
If you were denied an account opening you are legallly entitled to a free credit report, which will help you determine the reasons behind it. Reference the materials the lender gave you, or contact them directly for assistance.
What is a share in financial accounting and what are the journal entries for the shares?
When applications received Debit Cash account Credit Share applicant account [debit] Share applicant account [Credit] Share application account When share allocated [Debit] Share application account [Credit] share capital account
Which account decreases when debit?
All those accounts decreases with debit which normal or default balances are credit for example all liabilities or incomes are decreased with debits because their default balances are credit balance.
What is the journal entry for Share capital and Paid up Capital?
[Debit] Cash account xxxxx [Credit] Share application account xxxxx Entry 2 [Debit] Share Application account xxxxx [Credit] Share Capital Account xxxxx
Does owners equity account balances in the credit side?
Yes. Owner's Equity is a credit and typically displays on the right side of a balance sheet.
Which of the following groups contain only accounts that normally have credit balances?
Salaries Expense and Account Payable
How can credit card compaines prove there is a joint account?
A signature on the application.
How do you apply for a credit account with Comtec?
You can apply for a credit account with Comtec by going to one of their offices and filling out an application there or by printing one off from their official website and sending the filled out application to a provided address.
How do overdrafts impact credit scores?
Overdrafts do not directly impact credit scores because they are not reported to credit bureaus. However, if overdrafts are not paid off and result in negative account balances, it can lead to collections or a closed account, which can then affect credit scores.
