Line Of Credit
Quicken 2009: The Missing Manual
Bonnie Biafore (Paperback) Pogue Press 2008-09-24
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$24.99
Answers
does the amount of overdraft line of credit get reported and does having it increase your credit score? or is it nothing. because i feel bad i selected to get only $0 instead of the $1000 they offered when i signed up for online interest checking.
by the way this is not a credit card it's an online checking account that pays interest.
I think you can always change it Lee. It just means that's your amount of overage. Call your bank or Credit card loaner. See if i am right, cause I could be mistaken. If you chose to go 000 over limit,that's probably going to cost you if you do go over limit. Try to pay your card off every month. Dorothy (aka Happy New Year)
Can someone provide an example? I overdrew by a few dollars to see how it worked ... and was excited when I didn't see a $35 charge. Is there something I am missing here though - because I can't see in my statement where they made their money. Am I charged later?
Can you please provide an example using a man named Elwood overdrawing his account when he was buying mittens?
Here's what they say about it:
http://home.ingdirect.com/faqs/faqs.asp? s=Overdraft
(The short answer is that you pay interest -- currently 9 percent -- on the amount of your overdraft.)
Sorry -- nothing about Elwood or mittens there. You'll have to make up your own scenario for that.
When I signed up for my online checking i was given the option to choose from $0-$1000 overdraft line of credit, but i chose $0.
Overdraft Line of Credit
You currently have an Overdraft Line of Credit of $0.00. If you need to use your line of credit, there is no fee; you will just pay a variable competitive interest rate of 7.25% on the amount you need.
My question is what exactly is overdraft line of credit and what is it good for.
Was it a bad choice for me to have chosen $0? does it matter? does having a bigger amount help me? is there any benefits? does any of this help or worsen my credit score?
does it even get reported to credit report companies? this is just an online interest checking account.
if i never get overdrafted is it fine if i just have a $0 overdraft line of credit? i don't get what that 7.25% means.
please help explain what this overdraft line of credit means. and is it good to have a higher amount? i currently choose to get $0 overdraft line of credit what does that mean?
An overdraft line of credit is a loan attached to your checking account. . When you spend all of the money in your checking account, you start borrowing against your overdraft line of credit. It is meant to cover you in case of an accidental overdraft.
It's easy to abuse an overdraft line of credit; you should not use your overdraft line of credit regularly. Constantly using it is a sign that you need to work on managing your money. You can write a check against your account when you know it's empty, but that's a bad habit to get into.
If you misuse your overdraft line of credit, your bank can refuse to cover transactions or close it. It usually has a credit limit too; anywhere from $100 to $1000.
Having a "$0" overdraft line of credit means you don't have that particular feature on your checking account -- which is a good thing. You'll be less likely to use it as a crutch, and more likely to keep close track of your account balance.
I just started working in a bank...............but i still confuse that what exactlly is overdraft and overdraft protection and line of credit....................what differance is between line of credit and overdraft or overdraft protection...............and how people gets charged for overdraft protection fee , do they have to pay the fee monthly or each time when they overdraft.................can anyone plz let me know in a simple and clear language plzzzzzzzzzzzzzzz...................will be good if explain with a small example........................anddddddddd if i have a overdraft protection plan, and i write a check to someone for $1000, but mine cheking account has 0 balance but i have a overdraft protection for $1000, now what will happen......................and what if i donot have a overdraft protection.......................plz explain me with a simple example in both the cases if i have the overdraft protection if i donot have if ...................................plzzzzzzzzzzzzzzzzzzzz
You should ask your boss.
If she can't explain it in simple terms you understand, get another job.
what is the difference between Overdraft facility and Cash Credit or line credit
overdraft facility is normally against the fixed deposit or on clean basis . The above facility will have repayment schedule also. In case of cash credit facility or line of credit, the facility will normally be against stock or goods in transit. in case of export orders overdraft facility is also granted against orders also
I don't have credit cards...
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I'm a happily married, 26 year old mother of 2 (a boy and a girl). My daughter just started Kindergarten this year and my son is under a...News
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My Bank Tracker Bank NewsIf you have good credit, you can apply for an overdraft line of credit, which kicks in when your checking account is empty. There's a fee, often $10, What to Do in 2010: Banking, Loans, and Credit Cardsall 56 news articles »
Credit Card Guide News - Dec 13, 2009
In short, you could theoretically lose all the money in your account plus your maximum overdraft line of credit, if any. Still, despite these disadvantages, and more »Wall Street Journal - Dec 23, 2009
But now, card issuers adjusting to the new economic climate are looking to take on customers without taking on the risk of extending large lines of credit. and more »Columbus Dispatch - Dec 20, 2009
"In short, you could theoretically lose all the money in your account, plus your maximum overdraft line of credit, if any," the site says.Gaston Gazette - Dec 25, 2009
Despite the name "credit" in the name, there is no line-of-credit associated with the card. It's based solely on the amount the cardholder has deposited to and more »Credit Union Times - Dec 22, 2009
In less than two months, Congress enacted legislation to create the Temporary Corporate Stabilization Fund, financed by a line of credit from the Treasury and more »Winnipeg Free Press - Dec 24, 2009
through such things as a line of credit or overdraft protection, and generally extracting more money than you are allowed from a lending organization.