Advance Line Of Credit

need to know full details of line of credit amount,interest payments,and how to begin.

Line of Credit is a loan you take out with a financial institution. You fill out loan applications with the bank, mortgage company, etc. and they determine how much you are qualified to borrow.

The money is held by the bank, and you do not make payments or pay interest until you actually draw the money out of the bank. You can take it as one lump sum, or as several small amounts over the months or years, until all of the money you have drawn out equals the amount you qualified for.

The interest rate varies because of the time gaps between taking amounts out. The montly payment varies with the amount you have drawn out and the change in interest rates.

Two types of line of credit. Collateralized and Signature. Collateralized loans use something like the equity of your house fo ensure the lending institution will be paid back.

Signature loans are given to people with really good credit and don't require collateral. They are like a personal loan to the borrower, and no collateral is involved. Usually given out by credit unions or the such where they know they can take the payments out of your pay check before you see it.

2009-03-21 07:10:29 by dyonnebauer

loans" "unsecured personal loan" "line of credit" "unsecured business loan" "personal line of credit&quot ...

Can you use it for that? It depends.

You can't file a claim for the Chase Health Advance credit line unless you used that Chase Health Advance credit line to pay for a service rendered during your plan year, that hasn't already been reimbursed by your FSA or any other source (insurance, etc).

Remember that the key to FSA eligibility is the Date of Service. The IRS doesn't care when you paid for the service; in fact, they don't even care if you DO pay for the service or not (although the provider might care!). As long as you can prove that an eligible expense was incurred during the plan year, then you are eligible to be reimbursed by your Flexible Spending Account.

If you incurred an eligible expense, and you paid for it with your Chase Health Advance credit line, and you haven't yet been reimbursed for the amount of your responsibility, then you can, in fact, submit a claim for those services and use the money to pay off your Chase Health Advance credit line.

However, if you're asking whether or not you can just pay the balance of that credit line out of your FSA, the answer is no.

If you still have money left over, remember that many over-the-counter items (asprin, ibuprofen, acetomenephin, adhesive bandages, cough syrup, etc) are often eligible. For a more comprehensive list of what's eligible, check out my company's web site referenced below.

2008-12-22 11:19:47 by Me

Price: $5.95 $5.95

No.....It is a $500 line of credit if you are expecting more than $1000 back.

2007-12-02 19:02:57 by justme

Last year they did it around November 17th so I guess if they do it this year, it will be around the same time. It always helps me out.

2009-10-28 08:31:49 by jlb

I have a business credit line with a cash advance limit of $2500. I need to make a cash or check payment of $6500 using the credit line monies and paying by credit card is not an option. I have no idea how to do this. I am in a real jam and could really use some help. If anyone knows how to get around this or has any alternate payment methods, I would love to hear them. Thank you all for your help!

Your only option is to call the creditor and ask them to increase your cash advance limit.

I think casinos used to let you 'charge an advance', but I'm not sure if the practice is still in existence, nor if you live anywhere near a casino.

Other than casino's, there's really no way to do it - it'd be the same as asking "Does anyone know how I can charge $5000 with a $1000 credit limit?"

2008-04-26 00:01:29 by Sherman