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A debit card is a line of credit and interest may accrue if the monthly balance is not paid in full?
Wiki User
∙ 14y ago
No. A debit card will only cover purchases you alredy have money in the account to which that card is attached.It is in NO way a credit card , and there will be a decline or overdraft fee if you overspend the current balance.
Wiki User
∙ 14y ago
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Can interest still accrue on a garnished credit card?
You bet it can ... The CC companies will continue to add interest at the specified rate until the balance is paid off in full.
Does interest accrue on credit card debt after card holder is deceased?
Interest does not accrue on credit card debt after the card holder is deceased. It can occur however, if the spouse is on the account.
Can I settle my credit card without paying late payment and interest?
Yes you can. If you have the funds available, you can pay off the whole balance before the 'dues date' - and accrue no interest or charges.
Do Capital One credit cards make you pay a monthly fee?
Yes Credit cards have an interest charge that applies to your monthly balance as well as a monthly fee for having a card . Credit cards are vwery expensive . You are better off only using cash .
Should i pay my house payment or my credit card bill?
If it is convenient but credit card interest can be as high as 45%. It is unlikely to be a good idea if you do not clear the balance monthly.
If a person dies can the credit card account still accrue interest?
No, it should not continue to accrue interest.
Does interest continue to accrue on the interest balance after the principle is paid?
Interest on any account is paid before anything is paid on the balance. That's how credit card companies, well any lender makes a profit.
Can interest still accrue on a garnished credit card?
You bet it can ... The CC companies will continue to add interest at the specified rate until the balance is paid off in full.
Does interest accrue on credit card debt after card holder is deceased?
Interest does not accrue on credit card debt after the card holder is deceased. It can occur however, if the spouse is on the account.
Can I settle my credit card without paying late payment and interest?
Yes you can. If you have the funds available, you can pay off the whole balance before the 'dues date' - and accrue no interest or charges.
Do Capital One credit cards make you pay a monthly fee?
Yes Credit cards have an interest charge that applies to your monthly balance as well as a monthly fee for having a card . Credit cards are vwery expensive . You are better off only using cash .
How is Interest Expense with a credit balance classified in the financial statements?
An Interest Expense with a credit balance is reclassified as Interest Payable on the Balance Sheet.
Is interest earned a debit or credit?
All earnings and revenues has credit balance as normal balance so interest earned also has credit balance as default normal balance.
Should i pay my house payment or my credit card bill?
If it is convenient but credit card interest can be as high as 45%. It is unlikely to be a good idea if you do not clear the balance monthly.
Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
Can a corporation have a interest bearing checking account?
A corporation that is a for profit corporation cannot have an interest bearing checking account. However, it can have an earnings credit which is similar to an interest rate. With an earnings credit the interest earned on the Checking account is used to offset monthly fees/ charges on the account, if interested earned using the earnings credit is more than the total amount of fees/ charges it is considered a surplus and does not accrue to the checking account balance. A non profit corporation such as a 501.c.3 Can earn interest on Checking accounts due to the not for profit status.
Does interest receivable have credit or debit balance?
credit
