Credit cards, credit lines and loans are subject to credit approval and creditworthiness. Some restrictions may apply. Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S" or “Merrill") makes available certain investment products sponsored, managed, distributed or prov...
Is accounts receivable an asset? Yes, accounts receivable is considered a current asset because it represents money owed to the business that is expected to be received in the near future. When a customer pays with a credit card, is that cash or accounts receivable?
Credit is a contract between you and a lender where you borrow money and agree to repay it, typically with interest.
An example of a hard inquiry is when you apply for a credit card or a loan and the lender does a thorough review of your credit report to gauge your creditworthiness. A hard inquiry can lower your score up to five points. If you're on the edge between fair and good credit, multiple...
Make sure you understand unsecured debt, or borrowing without collateral, to make an informed decision before you choose a loan or credit card.
Who qualifies for an unsecured credit card? The most popular credit cards are unsecured. You typically need good to excellent credit to qualify for unsecured credit cards with the richest rewards or the lowest interest rates. Good credit is generally defined as a credit score of 690 or better....
What is a balance transfer credit card? A card with a balance transfer offer may help you get out of debt quicker and avoid taking out a personal loan. A balance transfer provides a way to move high-interest credit debt to a credit card with a lower interest rate, saving you money on...
What is a good credit score? The answer is tricky, but this guide tells you everything you need to know to qualify for loans, credit cards, and more.Whether you deal mostly in cash or you nab up every store and airline credit card you’re offered, your credit score will likely have ...
A credit limit is the maximum amount of money a lender will allow you to spend using a particular credit card orrevolvingline of credit. Lenders set those limits based on several factors, including your credit score, personal income, and loan repayment history. Lenders generally offer higher lim...
The Fair Credit Billing Act allows credit card users to dispute unauthorized purchases or purchases of goods that are damaged or lost during shipping.2 If the item was bought with a debit card, then the charge cannot be reversed unless the merchant is willing to do so. What’s more, debit...