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2 years ago

What is the amount of money you still owe to their credit card company called everfi answers?

2 answers:

6 0

The answer is credit card balance. A credit card balance is the sum of money payable to the credit card company. A new credit card balance may take up to 24 hours to bring up-to-date after a payment has been administered dependent on the Credit Card Company and technique of compensation engaged. The balance can be negative, positive or zero liable on if money is owed if a compensation more than the balance was made or the balance was compensated in complete.

Igoryamba2 years ago

3 0

The fund owed by the credit card holder is known as credit card balance.

Further Explanation:

Credit card:

Generally, Credit card is issued by financial institutes such as banks. Credit card is a plastic card that allows the cardholders to borrow the funds from the respective bank and then spend the funds as per their requirements. A credit card can be used for the purchase of goods and services.

Generally, a credit card has a specific limit. It is known as a line of credit (LOC). The cardholder can withdraw or use the funds up to the LOC. The cardholder has to pay the borrowed amount along with interest on the borrowed funds after a specific period of time, which is defined and stated at the time of issuing the credit card.

Amount of money owed by the credit card company:

The bank issues the credit card with a credit limit. When the user of the credit card uses the funds from the credit card, the fund used by the cardholder is known as credit card balance. The credit cardholder has to pay the used funds to the bank. The due balance is known as credit card balance.

Example: If the bank issues a credit card with a line of credit of $10,000 and the cardholder use $8,000 from the credit card; the money owed by the credit card company is known as credit card balance. Cardholder has to pay the credit card balance to the bank.

Thus, the fund owed by the credit card holder is known as credit card balance.

Learn more:

1. Common credit card fee

brainly.com/question/1124275

2. Charging fee in case of credit card

brainly.com/question/2668305

3. Consequences of non-payment of monthly credit card payment

brainly.com/question/3211811

Answer details:

Grade: Senior School

Subject: Business Studies

Chapter: Money and Banking

Keywords: Credit card, Charges, Credit card charges, Credit card company, Bank, Financial institute, Money, Funds, Fee, Line of credit, Amount owe to credit card company, Amount of money.

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1 year ago

Jane Hernandez owns and operates a women’s clothing shop. Her product mix

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2 years ago

Bodin Company manufactures finger splints for kids who get tendonitis from playing video games. The firm had the following inven

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Answer:

Raw Material $191,000

Direct labor $300,000

Actual manufacturing overhead $170,000

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Cost of goods manufactured $

Direct material $191,000

Add: Direct Labor $300,000

Add: Manufacturing overhead $170,000

Manufacturing cost $661,000

Manufacturing cost $661,000

Add: Work in process inventory at January 1 $235,000

Less: Work in process inventory at January 31 $251,000

Cost of Goods Manufactured $645,000

Cost of Goods Manufactured $645,000

Add: Finished Good inventory at January 1 $125,000

Less: Finished Good inventory at January 31 $117,000

Cost of Goods Sold $653,000

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* Data was missing for the calculations, complete question is attached with this answer, Please find that.

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2 years ago

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2 years ago

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