When are credit cards required to be charged off?

Answer Credit card issuers will charge off--or record a receivable amount as a loss--when the balance has been unpaid over 180 days, according to the generally accepted rules of accounting.AccountingA cha... Read More »

Top Q&A For: When are credit cards required to be charged off

What is the most charged item on credit cards?

In 2009, credit card purchases totaled 20.2 billion in the United States. While there are no specific surveys to indicate the most-charged credit card item, credit cards are mainly used on travel-r... Read More »

How to Fix My Credit After My Credit Cards Have All Been Charged Off?

A credit card company may "charge off" your account after 180 days or six months of being late on payment. Just because your account is charged off does not mean that the credit card company has gi... Read More »

The Similarities Between Islamic Credit Cards & Conventional Credit Cards?

The Koran, the holy scripture of Islam, forbids Muslims to charge interest. As with the Hebrew Scriptures, the Koran places lending in the category of charity, and so regards interest as a form of ... Read More »

Are gold credit cards better than regular credit cards?

On One Hand: Regular Cards Accept Lower RatingsRegular credit cards have higher credit limits than secured cards but often not as high as gold cards. Traditionally, you do not need to have as good... Read More »