 Debt collection question? |
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| I just recently paid off all of my credit problems and was wondering how long should I wait to apply for credit to attempt to re-establish my credit. Also, how long does it take to start ... |
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 What is the reason for this? It sucks? |
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I am in the same situation as many people I make enough money but still somehow have none let over for cushioning
Auto-$442
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 Is it true if you pay at least 10.00 a month, then something cannot be put on your credit report? |
| Is it true that if you pay a small amount each month to a creditor then they cannot put it on your credit report? I owe about 800.00 and some people have said that if you send in 10.00 a month to ... |
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leyla | What is the difference credit card and a debit card? |
My parents are leaning to finally give me something which I can use to buy my own stuff. So, your answers will be great. Thanks! |
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farran abat
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Credit. Every time you use a credit card, you are actually borrowing money that is made available to you by a bank or other financial institution. The institution pays the debt to the vendor, and in turn, you pay the money back to the institution. By signing up for a credit card, you agree to pay back the money that you borrowed, in addition to any interest drawn on the amount you borrowed.
Debit. Odds are, you have a debit card in your wallet or purse right now, since many ATM cards are programmed to have debit options. Issued by your bank, debit cards take funds directly from the money that you have in your bank account--in a sense acting like a check, just faster. With a debit card, you don't have to carry cash or checks, and it is very convenient to shop at a variety of places including gas stations, grocery stores, restaurants, and retail stores. They provide instant access to your money and are accepted worldwide.
Debit cards are used like credit cards, meaning that the store you are shopping at 'swipes' them, and then you sign off on the receipt. You don't have to show a picture ID, and there is usually no PIN number for you to punch in. You can apply online for a best credit card at: http://www.credit-card-gallery.com/ |
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colesey72
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debit card comes directly out of an account.....basically like drawing the cash out and paying for it. credit cards is an account where you borrow money and have to pay interest on it |
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Tee
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get a job you spoiled brat! |
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Haggie
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The difference between a credit card and a debit card is: - a credit card is BORROWED money from the bank, which you have to keep paying off and paying reasonably high interest rates and fees when you use it. A debit card is your OWN money which you don't have to keep paying off because it's your own money and you pay lower interest rates and lower to no fees on the debit card.
Hope this helps I personally would go with the debit card because you dont have to keep repaying money back - the safer option of the 2. I also think for both of them you have to be 18years+.I dont have either but recently found out about them myself. Good Luck |
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Geeeyaaa
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Debit card = money withdraws straight from a bank account.
Credit card = borrowing money |
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GURU
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debit card is spending money you have in your saving account. company may/may not charge an annual fee agaist debit card. normally they dont, exceptionally they do.
Credit card, as the name itself indicates, is spending money on credit. you are kind of taking a loan which is repayable within 30-40 days without interest, but incase you dnt pay, penality is high. you dont need to have a saving or any bank account for tihs as such. becuz the card is not based on ur account balance. but company may ask for your bank details so ensure you can afford to pay them back. credit cards normally charge annual fee |
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Radhakrishna( prrkrishna)
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Dear Friend,
THE CREDIT CARD is issued by a BANK or a FINANCIAL AGENCY toyou ,though you have no account with them,They give the Credit Card after verification of your details and payback capacity.It is their money they give you to USE.They will put some conditions in usage that say 20% of face value can be used as CASH,this you can draw at an ATM that accepts this Card,and the rest you can use for purchasing anything
They will charge a certain rate of interest beyond a certain period ,say 30 days or so, if you do not pay back that amount. They send monthly bills to you and you have to pay in time.There will be a minimum amount to pay ..they specify it.The balance will attract interest
My sincere opinion to you is if you are having a credit card you buy those things that are not needed,but looked attractive,because you are not paying hard cash and simply giving a card to take care of purchase.YOU FEEL YOUR EGO BOOST UP TOO AMONG FRIENDS.
So you end up with unnecessaruy things ,but you have to pay, NOBODY GIVES ANYTHING FREE.You will become a spendthrift gradually...and..go into the trap.
The DEBIT CARD.
In a Bank you deposit a certain amount ,or have your salary account which is credited there monthly.So you have your money,and BANK ISSUES A CARD CALLED DEBIT CARD ON THE BASIS OF FUNDS YOU HAVE WITH THEM >
This is debit card and when you use it your money in the account will automatically reduce.Some banks charge nominal amounts for their service.
Whatever the CARD you have,you willbe habituated to spending unnecessarily.You waste your money.
If you have HARD CASH WITH YOU ,DEFINITELY WHILE COUNTING AND GIVING THE NOTES OR COINS AFTER PURCHASAE YOUR INTELLECT WILL WARN YOU AND YOU TOO BECOME ALERT,WHAT YOU ARE GIVING AND WHAT IS BALACE LEFT.YOU WILL SPEND PRUDENTLY.
Surely you spend less definitely less, far less ,with CASH.
than with CREDIT or DEBIT CARDS.
So,Friend use youe senses before purchasing anything with CARDS. |
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ALFimzadi
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a credit card is like a loan. You are borrowing that company's money, and will be charged interest, and each month will be required to pay either a portion of the balance, or the entire amount based on your credit agreement. A debit card is attatched to your checking account, so you can only spend what money you have in that account. There aren't any finance charges, no bills to pay each month, but you have to be able to remember to balance the checking acct. without forgetting to log your purchases so you don't overdraft your bank account. |
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dollyface11
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With a credit card its like borrowing someone else's money in which u pay back monthly. Be careful using this because when everyone gets they're first credit card we all go crazy shopping thinking like its free money. Not paying this can result in bad credit. And with a debit card u are using the money that is available in your checking or savings account only. |
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pears
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Hi there!
Well, the main difference between the two is that, in a credit card setting, you are initially loaned with money, in the form of credit, to purchase stuff. For example, the issuer, ( Capital One, Chase Visa, American Express) sets a spending limit on your account, you will put in money once you have spent
A debit card, on the other hand, functions more like a virtual cash at hand. Here, you already have a money deposited in your bank account & money is being taken out real-time once you make a purchase.
The thing is, in a debit card, you have the money in the beginning, you're just not gonna carry cash. You'll make deposits to your bank account to get the debit card flowing.
In a credit card, you pay for what you spent & ofcourse, the interest rates, which are a totally different topic, but just for thr sake of letting you know.
Goodluck & spend wisely! |
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AppleJack
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When you use a debit card the money is taken directly out of your bank account. When you use a credit card you get a bill every month. |
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D.W.W.
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Debit card - you are spending money you have
Credit card - you are spending money you dont have |
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