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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.
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.
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 :(
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.
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.
Should I get a credit card to borrow money?
No, it is never a good idea to apply for credit card to borrow money because you are just adding on to your debt. If you are unable to pay back the money that you used on your credit card, it will be deemed as overdue, and you will have to pay extra interest, or an extra fee or charge.
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.
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 :(
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.
Can you deposit money into a credit card?
No, you cannot deposit money into a credit card. Credit cards are used to borrow money from a financial institution, and you are required to pay back the borrowed amount along with any interest charges.
Which of these credit card features would be best for customers who think they might need to use their credit card to borrow money?
no fees for cash advances
What credit card features would be best for customers who think they might need to use their credit card to borrow money?
No fees for cash advances
Can you deposit money to a credit card?
No, you cannot deposit money directly to a credit card. Credit cards are used to borrow money from a financial institution, and you are required to pay back the borrowed amount along with any interest charges.
What is the difference between a debt card and a credit card?
The diffference between a debt card and a credit card is ,in a debt card it's money from your account .In a credit card is when you borrow money from the bank.
Is a bank card the same as a credit card?
No, a bank card and a credit card are not the same. A bank card is linked to your bank account and allows you to access your funds, while a credit card allows you to borrow money from the card issuer up to a certain limit.
