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Your Visa card is not a payable, it is a line of credit regardless of how you use it. The fact that it has a grace period doesn't change its nature. A/P is interest free credit extended by one company to another.

You're piling one error on top of another.

VISA puts a limit on the amount you can borrow using your credit card. You may view that as a line of credit. The amount you actually borrow on your credit card, i.e. your monthly statement balance, is debt. Even by your incorrect definition, since credit card balances carry interest (and how!) they are debt.

Now let's go back to the definition of debt. From the American Heritage Dictionary -
debt n. - 1. Something owed, such as money, goods, or service. 2. An obligation or liability to pay or render something to someone else.

Nowhere is interest mentioned as an element in the definition of debt.

Let's look at another example. You owe a friend some money to buy a car, and you write a formal note recording that obligation, but you agree not to charge your friend interest. Is that a debt? Of course it is.

When looking at financial statements there are some naming conventions. So accounts payable have aunique name to help us all understand what we're talking about. It doesn't mean they are not a debt.

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