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What is the difference between a loan and credit?
2020年2月1日 · Besides the definition of the words "loan" and "credit", the wording of your question implies that you're actually asking for the difference between a Term Loan and a Line of Credit (LOC). With a term loan you receive the full initial balance up front, and pay interest on the entire remaining balance beginning on day 1, until the full balance ...
loans - Extension of Credit meaning - Personal Finance & Money …
2022年6月19日 · A definition in US banking law is: An extension of credit is a making or renewal of any loan, a granting of a line of credit, or an extending of credit in any manner whatsoever... An analogous phrase is "extend a job offer" , which means simply "make a job offer", not necessarily anything more specific like "postpone the deadline for responding ...
Is there a formal distinction / definition of a “credit” vs a “refund”?
2023年9月23日 · In my experience the distinction is usually that a credit is usable only through that one business (or that one credit card, depending on how the credit is processed), whereas a refund can be taken in cash. But it sounds like you need …
If something is coming into my account will it be debit or credit in …
2011年10月17日 · The bank "credit's" your account for money coming into it. In double entry accounting, you always have a debit and a credit to balance the accounts. As an Example: for $500 that the bank credited to your checking account, you would post a debit to Cash and a Credit to Income Earned.
Why is salary a credit if money comes in? [closed]
Waddler said it right, it depends on whether or not it is going against asset or liability. Your salary is said to be credited in bank's term, whereby the bank experiences a increase in its liability (your bank deposits) and hence its a credit for them. We usually understand that its a credit for us, however not. This is what I understand.
How to understand payment due date for a credit card
2019年8月31日 · Your credit card payment due date will fall on the same date each month. For example, if your credit card payment is due on the 10th of this month, it will be due on the 10th of every month. Most credit card issuers allow you to change your due date to another date during the month. Make sure to pay in full and before the due date.
What is a "Revenue Credit" on a 401k account statement?
2014年10月28日 · As was communicated in the plan transition guide in September 2012, the University of Washington has negotiated a fee credit from Fidelity. Beginning in January 2013, a credit was allocated to participants who invest in mutual funds for which Fidelity receives revenue to offset administrative costs. (See Appendix).
united states - How can I determine which stores are regarded as ...
2015年1月4日 · Credit card companies organize types of businesses into different categories. (They charge different types of businesses different fees.) When a business first sets up their credit card processing merchant account, they need to specify the category. Here is a list of categories that Visa uses. Grocery stores and supermarkets are category number ...
Does deleting a tradeline mean the account is wiped from credit …
2019年5月1日 · Within approximately 30 days of your final payment successfully posting, we will request that the three major credit reporting agencies delete our tradeline related to your account from your credit bureau report. Does this mean the debt will be removed from my report? The statement came on a bill from the agency.
Why activate credit cards? What is the purpose of credit card ...
2010年12月6日 · A number of credit card companies - almost all of them - ask to "activate" credit cards when sent to me. Usually it involves calling the phone on the sticker and typing in whole or partial card number. So my question is - what is the purpose of this exercise? It can not be a security measure - anybody who has the card can activate it.