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About: Credit card kiting     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Relation100031921, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: yago:WikicatCreditCardsyago:Abstraction100002137yago:Assets113329641yago:Communication100033020yago:ConsumerCredit113374426yago:Credit113378518yago:CreditCard113376012yago:CreditLine113379413yago:Evidence106643408yago:Identification106885083yago:Indication106797169yago:Open-endCredit113375323yago:PositiveIdentification106885389yago:Possession100032613yago:Relation100031921 New Facet based on Instances of this Class

Credit card kiting refers to the use of one or more credit cards to obtain cash and purchasing power they do not have, or pay credit card balances with the proceeds of other cards. Unlike check kiting, which is illegal under nearly all circumstances, laws against credit card kiting are not completely prohibitive of the practice, thereby allowing it to be done to some degree. It is up to the banks to detect the practice and when necessary, stop it.