Financial Services

Which Statement Applies Only To Restricted Cardholders?

Restricted cards, or “Restricted Use Credit Cards,” are cards that are issued to people who are unable to obtain a regular credit card due to their poor credit history. These cards typically have lower spending limits, higher interest rates, and a shorter grace period than regular cards. Restricted cardholders must adhere to more stringent rules …

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In An E-Credit Card Transaction, The Clearinghouse

In An E-Credit Card Transaction, The Clearinghouse

An electronic credit card transaction clearinghouse serves as an important middleman between merchants and card issuers. The process of transferring funds between a merchant and an issuing bank is known as clearing. Without an intermediary, the two entities would not be able to communicate and complete the transaction. Here’s how it works: The Process: The …

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