How can I get a standby letter of credit?

June 30, 2024 No Comments

A: The procedure for obtaining a standby letter of credit involves the applicant applying to a bank, establishing credit worthiness, and usually putting up cash collateral and paying a fee. A standby letter of credit, commonly referred to as an SLC or LOC, is a

Can you use a Walmart credit card anywhere? (WMT)

June 30, 2024 No Comments

A: Wal-Mart Stores, Inc. (NYSEARCA: WMT) offers two types of credit cards: the Walmart MasterCard and the Walmart credit card. While the Walmart MasterCard can be used at any retailer that accepts MasterCard, the Walmart credit card is only accepted at Walmart and Sam’s Club

Compound interest versus simple interest

June 30, 2024 No Comments

A: Interest is the cost of borrowing money, where the borrower pays a fee to the lender for using the latter’s money. The interest, typically expressed as a percentage, can be either simple or compounded. Simple interest is based on the principal amount of a

Dividend Reinvestment Plan – DRIP

June 30, 2024 No Comments

Loading the player… What is a ‘Dividend Reinvestment Plan – DRIP’ A dividend reinvestment plan (DRIP) is a plan is offered by a corporation that allows investors to reinvest their cash dividends into additional shares or fractional shares of the underlying stock on the dividend payment

Can a Best Buy credit card help you build credit?

June 30, 2024 No Comments

A: A Best Buy credit card can be used to help improve your credit score and credit history as long as you use the card responsibly. How you use the Best Buy card will ultimately determine how helpful it can be to your credit. Understanding

Can a Walmart credit card help you build credit? (WMT)

June 30, 2024 No Comments

A: Through Synchrony Bank, Wal-Mart Stores, Inc. (NYSE: WMT) offers two credit cards: the Walmart MasterCard and the Walmart credit card. When used properly, both of these credit cards can help you build your credit history and credit score. By reviewing the terms and conditions

Can FHA loans be used for condos?

June 30, 2024 No Comments

A: A borrower can obtain Federal Housing Administration (FHA) loans to finance the purchase of a condominium as long as the condo is on the list of FHA-approved condominium projects. Families and individuals with lower incomes have higher chances of obtaining FHA loans since the

Can I use a prepaid credit card to pay bills or transfer money to other accounts?

June 30, 2024 No Comments

A: Prepaid credit cards may be used to both pay bills – either as a one-time transaction or recurring transaction – and transfer money to other cards of the same brand. Some prepaid credit card bill payments are made in the same manner as regular credit cards.

Can Netspend cards be used internationally?

June 30, 2024 No Comments

A: NetSpend cards are prepaid debit cards that allow cardholders to make purchases as they would using traditional debit or credit cards. NetSpend cards can be used internationally, and they are accepted at any location that accepts a debit Visa or MasterCard. Using Your NetSpend

Can student loans be used to pay rent?

June 30, 2024 No Comments

A: Student loans can be used to pay for room and board, which includes on- and off-campus housing. So yes, students can use loans to pay monthly rent for apartments and other types of residences away from campus. The sooner a student knows she wants

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