What is a letter of credit history?

Answer A letter of credit history can be obtained from one creditor to prove your creditworthiness to another creditor. That letter is oftentimes supplied by an electric company for a former customer who ... Read More »

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

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 fee for a letter of credit?

The fee for a letter of credit is noted as a percentage of the amount needed and is expressed as a percentage, typically around 1% to 2%. There are often minimum charges, as the letter of credit is... Read More »

How to Improve Your Credit Rating If You Have Insufficient Credit History?

According to MyFico, your FICO score ranges from a low of 300 to a high of 850. The higher the score, the better. If you have insufficient, or limited, credit history, you will need to establish ne... Read More »

What is a standby letter of credit?

A standby letter of credit, or SLOC, is a written document that banks issue as assurance the bank will pay a beneficiary money owed by the bank's client if the client doesn't pay himself.Significan... Read More »