What is a bank letter of credit?

Answer A bank letter of credit is used to secure goods and services by providing documentation that a loan or line of credit has been issued to cover these costs. Letters of credit outline the amount of t... Read More »

Top Q&A For: What is a bank letter of credit

Difference Between a Letter of Credit & a Standby Letter of Credit?

A letter of credit and a standby letter of credit are similar services offered by banks to aid financial transactions between buyers and sellers. The bank issuing either of these letters guarantee... Read More »

What is the best bank to get a credit card if you have bad credit?

On One Hand: Secured Credit Cards Best.Any bank offering a secured credit card is your best bet if you have bad credit but want a credit card. You will have to deposit money into a savings account ... Read More »

What is unsecured bank credit?

Unsecured bank credit is a loan that a lending institution offers to an individual without any need for collateral, only an agreement from the debtor to guarantee repayment of the loan.Significance... Read More »

What is a credit union bank?

Like other financial institutions, credit unions accept and manage deposits of assets, while providing services such as loans and mortgages. However, credit unions differ from banks in several key ... Read More »