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When you borrow money on a credit card, it's called a cash advance. A cash advance is when you use your credit card to get cash from an ATM or bank teller, or to transfer money to your bank account. Cash advances usually have higher interest rates than regular purchases, and they may also have fees associated with them. It's important to read the terms and conditions of your credit card agreement to understand the interest rates and fees associated with cash advances.
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What is the maximum you can borrow on your credit card called?
Your credit limit.
Can I deposit money into my credit card account?
No, you cannot deposit money into a credit card account. Credit cards are used to borrow money from the card issuer, not to deposit funds like a bank account.
Why would you need a credit card if you are not working?
you will need a credit card if your not working because you have no money so you use a credit card to borrow money from the bank.The disadvy :(antage of that is that later you have to pay :(
Does debit card build credit?
A debit card is a card that takes money straight out of the bank, however, a credit card lets you borrow money, but you must pay interest. So, a debit card does not build credit.
Which of these is one way that credit cands differ from debit cands?
Credit cards allow you to borrow money from the card issuer. A debit card requires you deposit money with the card issuer, and the money is then deducted at the time of the transaction from the amount deposited.
