Today there are a lot of different credit card transactions and thus to succeed in using your credit cards it is necessary to check your credit card statement each month. That way you will make sure that all your payments are recorded properly and you will have an opportunity to review your statement so that all new transactions are reviewed and when you have some questions on strange transaction you have to be willing to email or call your credit card company and get the answer.
Keep in mind that sometimes your credit card company will send you an email detailing the reason for a new transaction on your credit card, however other times they make the transaction on your accounts and you have to read your statement closely to find it. Below there are some things that you have to keep in mind if you want to succeed in credit card management.
First of all, it is necessary to mention that according to the current legislation on credit card you have to pay more than the minimum payment on each credit card when you have an existing balance on the card. Keep in mind that the payment over the minimum amount will be applied to the highest annual percentage rate owed. That way you will be able to pay down your account balance since in past this amount would go to the lower annual rate balances.
When you are two months late in making your credit card payments, the credit card company could increase your annual percentage rate. But remember that the company has to provide you with a 45-day prior notice by sending you an amendment to your account agreement.
When you find this change in your credit card statement, make sure that you have received a 45-day prior notice and otherwise you have to contact your credit card company and inform them of this.
Undoubtedly, each Small Business Owner these days needs to process payments, so credit card processing might occur really useful. In any way to run your business successfully you need to consider using some merchant services. You also can think of using credit card processing to make buying process for your clients even more comfortable.credit card processing, merchant account, merchant services, payment processing, processing services