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It is considered a Recourse loan as the account holder are still responsible for any outstanding balance when the account is closed which has not been challenged for unauthorized use and such. However, the account holder is only liable for the balance as long as the Statute of Limitations (Which varies by region (In the US, from 3-15 years by state from last non-institutional transaction)) remains in effect.
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Is credit card and debit card considered as a cash?
No, credit cards are loans and debit cards are checks.
What is credit card debt considered?
revolving debt
Why do credit cards considered money or not considered as money?
Because money consideration is granted credit into card formation bedfellow however the consolidation of the derivative card of credit is pennywise but pound cake foolish
Is paying the minimal on credit cards considered a sign of credit trouble?
Paying the minimum amount due on credit card is not necessarily a sign of credit trouble because it actually makes the credit card account current.
Credit card you have not paid on in three years?
if they are not collecting on it leave it alone, don't go waking up a sleeping giant, in another year or so depending on your states SOL it will be beyond legal recourse, most credit cards are considered written contracts and have a SOL of 2 to 4 years depending on what state you live in
What credit card was first?
Diners Club, which was techincally a charge card is usually considered the first credit card.
Is credit card and debit card considered as a cash?
No, credit cards are loans and debit cards are checks.
Can you add gratuity to a credit card left by a customer at a bar?
No, beacuse that is will be using the person's credit card without their permission. That is considered credit card fraud.
What is credit card debt considered?
revolving debt
Why do credit cards considered money or not considered as money?
Because money consideration is granted credit into card formation bedfellow however the consolidation of the derivative card of credit is pennywise but pound cake foolish
Where can i get a no credit credit card?
Typically you will not be able to obtain a credit card with out any credit. You are considered high risk and companies do not want to take a chance. But you can contact your banking institute and they can assist you in trying to obtain one. You can get a pre-paid credit card though and that will help you to obtain credit so you can later on get an actual credit card.
Is it legal for a credit company to issue a credit card to a minor without an adult cosigning in Wisconsin?
They can issue it, but they have no recourse in collecting on it if the minor doesn't pay. However if fake (fraudulent) information was used to obtain the card the minor could face criminal charges.
Is paying the minimal on credit cards considered a sign of credit trouble?
Paying the minimum amount due on credit card is not necessarily a sign of credit trouble because it actually makes the credit card account current.
Can you apply for a credit card before you turn 18?
No, in order to qualify for a credit card you must be an adult, and 18 is generally when someone is considered to be an adult.
Credit card you have not paid on in three years?
if they are not collecting on it leave it alone, don't go waking up a sleeping giant, in another year or so depending on your states SOL it will be beyond legal recourse, most credit cards are considered written contracts and have a SOL of 2 to 4 years depending on what state you live in
Can ATMs take your credit card?
You can call your credit card company and have a PIN assigned to your credit card, so you can use it to get cash at ATMs. Mind you, this money is considered a cash advance and the fees and interest charged will be higher.
Credit card laws in Pennsylvania?
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Pennsylvania is 4 years. That is usually from the last use or payment.
