A credit account is an account available to the customer which has a limit and on which deposits and withdrawals can be made
The balances of the credit account can be positive or negative.
Periodic settlements generate certain interests depending on the balance of the credit account, being these positive, negative or exceeded.
Interest income: if the account has positive balance, the financial firm will pay the agreed interests in favor of the contracting party.
Borrowing interests: depending on the amount that has been used during the period prior to the payment of the interests, the financial firm will collect the agreed interests.
Interests on exceeded balance: they appear when the amount used is over the agreed limit and they are applied to the part of the balance that exceeds the limit. Until the limit, borrowing interests are applied.
Fees on unspent balance: usually between 0.25% and 0.50%
Fees on m�ximum exceded balance: the bank will apply the fee rateover the m�ximum exceeded balance, which is usually high.