What is the name of the legally mandated area on every credit solicitation which provides information about the terms and conditions of the card a S?

Schumer box is the name of the legally mandated area on every credit solicitation which provides information about the terms and conditions of the card.

What types of credits would best describe credit cards?

Open credit refers to a type of credit that provided money to be borrowed at a certain time when we need it. And unsecured credit refers to a type of credit that does not protected by asset collateral. Credit cards have both of these characteristics.

What is an open line of credit?

A line of credit is often considered to be a type of revolving account, also known as an open-end credit account. This arrangement allows borrowers to spend the money, repay it, and spend it again in a virtually never-ending, revolving cycle. Like any line of credit, an overdraft must be paid back, with interest.

What regulation covers credit cards?

Regulation Z
Under Regulation Z — a part of the federal Truth in Lending Act — credit card issuers are required to disclose the terms and conditions to potential and existing cardholders at the point of account opening and at regular intervals.

Which of the following is not a benefit to using credit instead of cash?

Answer Expert Verified. Using credit allows you to make impulsive buys – this is not a benefit to using credit instead of cash. It is never good to make impulsive buys, you just waste money on something that you usually don’t even need.

What is a common advantage of using credit?

Credit can be a powerful tool that helps you improve your finances, get access to better financial products, save money on interest, and can even save you from putting down a deposit opening utility or cell phone accounts.

What is the legally mandated area on every credit solicitation?

Schumer box is the name of the legally mandated area on every credit solicitation which provides information about the terms and conditions of the card. Log in for more information. This answer has been confirmed as correct and helpful.

What is the name of the legally mandated area on every credit card?

What is the name of the legally mandated area on every…?

Schumer box is the name of the legally mandated area on every credit solicitation which provides information about the terms and conditions of the card. Log in for more information.

What’s the minimum monthly payment on a credit card?

The legally mandated disclosure of terms and conditions found on every credit card is called the “Schuyler Box.” May currently has a balance of $1,817.43 on her credit card. If she must make a minimum monthly payment of 3.44% of her total balance, what is her minimum payment, to the nearest cent?