What’s the different between a line of credit and what is called revolving credit?
371820
A line of credit could be revolving, which means that you can make a payment towards it and borrow more at the same time.  Credit cards are an example of a revolving line of credit. An installment loan is something else: a total amount due and periodic payments over time that will eventually pay it off completely.  An automoble loan is an example of an installment loan. Revolving credit could go on and on forever, like a revolving door: pay it down, borrow more, pay it down, borrow more, etc. An installment loan does not give you this option to borrow more as you pay it down.
1177350
In regards to Revolving Credit (Credit cards, etc.):\nPay down the balances to within 20-30% of your total credit limit. This should help to boost your scores. If you do not have the money to pay this down, call your credit card companies up and ask for a limit increase.. this will automatically allow your debt to limit percentage to lower.\n\nIn regards to Installment Loans: If you have ANY loans with high risk lenders (i.e. American General Finance, Well Fargo Finance or any other company with "Finance" in their name) pay them off quickly, or borrow from your local bank / credit union to pay them off if possible. Due to the risky nature of these lenders, the fact that you have this type of loan will hurt your scores. Paying them off will boost your scores.\n\nIn regards to credit mix:\nMake sure you have a balanced mix of types of credit... in other words, you should have 1-2 credit cards, 1-2 loans and possibly a mortgage. This shows good balance in credit and a healthy score should be given.\n\nOne last tip: Although they claim it does nothing to improve your score, mortgage lenders across the US have found that by requesting to Opt Out of the credit bureaus mailing lists (that they sell!) you may see a boost in scores in about 10 days... usually small, but it might push you over the goal you need. See the resources for the link.\n\nGood luck!
689422
dr = debit recorded, cr = credit recorded :)\n\nRival
563137
I'm not sure, however, some will charge you interest just to keep the card open. In some cases the interest is compounded daily, thats why it is important to watch spending, and pay more than the amount due.
1010683
If you take out a loan, the amount you are loaned is called the "principle". The bank loans it to you at a certain rate called the interest rate. You have to pay back the principle, PLUS the interest, over the life of the loan.\n\nIf your loan has compound interest, you not only have to pay back interest on the principle, but interest on the unpaid interest itself. To compute the amount of compound interest, you have to take the "life" of the loan (the amount of time the principal is loaned for) and divide it by some interval, called a payment interval. You also divide the interest rate by the same interval. Then you can compute the amount of unpaid interest over that interval, and the interest on the interest.\n\nIn continuous compounding, the payment interval is essentially zero, resulting in an infinite number of infinitely small payments. It turns out that for problems of this type, there is a mathematical limit toward which the payment converges as the interval gets closer and closer to zero; so you can use that mathematical limit to determine the amount of the interest under continuous compounding.
248291
Credit managers are the ones that decide if your get certain maount of credit or not. they also decide if you should get any kind of credit at all and at what interest rate.  But they don´t do all these things just by looking to someone.  They use math all the time because they have to understand the mathematical meaning of their decisions in terms of losses and profits for their companies and for their cosumers. Banks use credit amangers, but also department stores and every kind of business that opens credit lines.
106131
Secured loans are given with something stated as collateral ( you don't pay your loan, we take your house, car, etc.) Non-secured loans are more like personal lines of credit. They are harder to get, and tend to be higher interest.
1186659
Yep, you're correct, standby letter of credit.  This is a quote from the first link below:\n\nThe standard L/C is the method used to pay for an export transaction. The standby L/C is used to secure the creditor in the event of non payment by the importer.\n\nStandby's are often used when customers have being doing business for a period and want to avoid issuing L/C's for every shipment. The standby is usually issued for a fixed sum for a fixed period. While L/C's normally relate to international business we have secured domestic business using standby's. The exporter ships on open account terms and receives payment in the normal manner. However, should the payment process deteriorate or should an invoice remain unpaid the exporter can claim the value of the standby by presenting simple documentation to the bank.\n\nThe standby L/C can also be a good alternative when a credit limit is not available under credit insurance or where the exporter only needs a secured mechanism with a few customers.
245155
A secured credit card is when you put up say $1000 and the credit card co. gives you a charge card with a $1000 limit on it - they extend you credit because you've already given them the money to back the card, so they don't lose any money if you default.  When you close the account you get the money back.  It's a good way for people with bad or no credit to improve their credit score.\n\nAn unsecured card is when they issue you a credit line of $1000 but you've given them no money as colateral, so if you default, they may lose that money that you've charged but might not pay back.  \n\nUnsecured cards are a bigger risk for credit card companies but they usually get a bigger return on them.
488037
Debit card just allows withdrawals direct from your bank account, and doesn't allow you to get more money than you have. A credit card allows you to draw moneyup to the credit limit you have been given, you have to pay it back and unless you do so completely each month they will charge you interest.
273809
usually it is credit that decreases fairly fast in quantity,\nit is usually used as a stop gap when things go wrong but can be put right in a short amount of time.
29976
the simple method is when your current liabilities are greater than your current assets and your long term assets are not easily liquidated/borrowed against AND your prospects for future cash flow do not appear to be able to cover your future immediate liabilities.  Also, if you are avoiding creditor calls (business or personal) for most of your day, it's probably time to file or close down.
258952
Secured means you have to have some kind of Guarantee in case you dont pay you debt , such as a CD(certificate of deposit)for the same amount of funds as your Credit Limit. This is usually for people beginning to build their credit or for people who have had bad credit. The Non-Secured is everything else... the "normal" C cards.
1169169
It means you give the company the money(or collatoral) that you want to have credit for. Then you pay for the interest and fees for having the credit. It is better to go to a loan shark. At least they only break bones and not a credit history!
564383
ARe you talking about "Kiting" I use one credit card to pay off the balance of another credit card , so I really do not have to make a real payment until I want to. Now that is using credit when credit is DUE!
42617
I got a capitalone card with in 6 months of my discharge... to start off it is a very small balance (which that is all you need to start rebuilding your credit anyway). Plus the interest rate is a little on the high side and there is an annual fee. But a lot of other companies will charge you that plus a sign up fee and many other fee's that I have no idea what they are called but it is best to stick with a company with as less fee's as you can get and the lowest interest rate. or you can also get a card that requires a deposit that you basically work against. That is always a safe way to rebuild.
759054
they have those secured credit cards, where you put up a savings account and they give you that amount in credit. It shows on your credit report as a credit, so you build credit that way.\nhttp://www.bankrate.com/brm/news/cc/19990823.asp