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Month: September 2018

Credit Card | Secured Credit Card

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Credit Card | Secured Credit Card

A credit card is a mega term entailing bounties of information. Stay connected to unveil more about the credit card. What types you can avail, The payment terms, what impacts it can have on your credit or financial situation. For editing the credit card statement, It is must to know each and everything about the credit card so that you can edit the credit card statement as it has never been modified. Contact at bankstatementediting for more services of editing !

The information on secured credit card will be revealed in this article so let’s dwell in the credit card world!

Secured Credit Card

A secured credit card is described as, “the credit card that provides you security to deposit amount against the credit card’s credit limit. ” The security card is recommended to those:

  • Who face problems in procuring a regular credit card.
  • Who have not good credit history or have not yet established any credit history.

It is more or less like a regular card with a difference that your credit limit is secured with  a deposit. Your credit limit will be manifested as a percentage of your security deposit. Many banks are in a way to put your deposit into an interest bearing savings account. Where it lingers till you are done with paying the balance that leads to the closing of your account.

Secured Credit Card and Unsecured Credit Card

As we have mentioned that the difference is of credit limit security at deposit. However, it is mostly synonymous to unsecured credit card. If you are making purchases using your secured credit card. Then, your available credit is being slashed so you have to make monthly minimum payments on time to avoid any surplus charges. But if you are lucky to have a grace period on your secured credit card. You can avoid any extra charges by paying the entire balance monthly. Though, you will be charged with late fee or late payment penalties if you are late on due.

Usually, secured credit card have more fees than the unsecured credit card. And some even charge or apply high interest rates, credit limit increase fee and monthly account fees.So, it has its dark sides too where its bright sides transcend.

You might be thinking that you are secured with credit limit, but still you have to make payments. If you are being late on making payments, the report will be sent to the credit bureaus thus impacting your credit score. If you are default on your credit history then, your account will be closed that will be making you loose your security deposit.

For more information on how you can save yourself from being affected by credit card, stay connected and keep reading!

Disclaimer: Services provided here are only for Novelty, Education and Entertainment purposes only.

Credit Card | Payment Due Date

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Disclaimer: Services provided here are only for Novelty, Education and Entertainment purposes only.

Credit Card | Payment Due Date

Since, you’re quite apprised about the credit card statement and why you need it,  if you have gone through our previous articles. Then moving forward to the components. Knowing about the due dates can save you from bounties of problems.

Payment Due Date

Payment Due Date is the certain date by which you ought to make monthly payment towards the balance whenever you have a balance on your credit card. Credit card issuer issue this date. Your payment must receive before a due date otherwise you pay it with the penalties. But in case, if your credit card issuer extends the date to as late as midnight , you can save yourself from late penalties.

What to Know About Your Payment Due Date

Do consider the time zone when it comes to make the payments. you can make your credit card payments before the due date with no penalty but beware, do not make the payment that early while your payment will be considered in the wrong billing cycle. You are not restricted to make only one payment rather you can make more than one credit card payment monthly as long as the payment is made before the payment due date.

Finding a Payment Due Date

When you are checking your monthly billing statement , you can check your payment due date there.But in case , if you have misplaced your credit card statement , then , you can check your payment due date by logging in to your online bank account or you can contact your credit card’s customer service to find out the payment due date and the minimum payment amount due.It is a good practice to write your payment dates on a calendar , that will help you to remember the payment due date thus saving you from late payment penalties.

If You Miss the Payment Due Date

In case that you forgot your payment due date , you are in trouble as you have to face the late payment penalties.The late payment penalty can include late payment and interest rate increase.With rewards credit cards, you might forfeit your credit card rewards if you miss just one payment date, depending on the terms of your rewards program.

If You Late Due Payment

You can make the payment along with the late payment as soon as possible as you come to know that you have missed the payment due date.In some consequences,the credit card issuer grants a favor of waiving the late fee, most probably, if it is for the first time that you missed your payment.

But do not make it habit as it can lead to hard repercussions. If you are 30 days late, this will have an impact on your credit card billing cycle. So, be careful!

Stay connected to know more about the credit card statement, bank statement, pay stub and many more.

Credit Card | Payment Due Date

Since, you are quite apprised about the credit card statement and why you need it if you have gone through our previous articles. Now, moving forward to the components. Knowing about the due dates can save you from bounties of problems.

Payment Due Date

Payment Due Date is the certain date by which you ought to make monthly payment towards the balance whenever you have a balance on your credit card. Credit card issue issue this date.Your payment is receive before a due date otherwise you have to pay it with the penalties. But in case, if your credit card issuer extends the date to as late as midnight, you can save yourself from late penalties.

How does the credit card work?

Do consider the time zone when it comes to make the payments. You can make your credit card payments before the due date with no penalty but beware, Do not make the payment that early while your payment will be considered in the wrong billing cycle.You are not restrict to make only one payment rather you can make more than one credit card payment monthly as long as the payment make before the payment due date.

Finding a Payment Due Date

When you are checking your monthly billing statement , you can check your payment due date there.But in case , if you have misplaced your credit card statement, then, you can check your payment due date by logging in to your online bank account or you can contact your credit card’s customer service to find out the payment date and the minimum payment amount due. It is a good practice to write your payment due dates on a calendar , that will help you to remember the payment due date thus saving you from late payment penalties.

If You Miss the Payment Due Date

In case that you forgot your payment due date , you are in trouble as you have to face the late payment penalties.The late payment penalty can include late payment and interest rate increase.With rewards credit cards, you might forfeit your credit card rewards if you miss just one payment date, depending on the terms of your rewards program.

Late Payments and Your Credit Score

You make the payment along with the late payment as soon as possible as you come to know that you had missing the payment due date. In some consequences, the credit card issuer grants a favor of waiving the late fee, most probably, If it has for the first time that you missed your payment. But do not make it habit as it can lead to hard repercussions.

If you are 30 days late , this will have an impact on your credit card billing cycle. So , be careful!

Stay connected to know more about the credit card statement , bank statement , pay stub and many more.

Disclaimer: Services provided here are only for Novelty, Education and Entertainment purposes only.

Credit Card | Grace Period

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Disclaimer: Services provided here are only for Novelty, Education and Entertainment purposes only.

 

 

Credit Card | Grace Period

We are back with some more bunches of information to add to the bucket of your knowledge. You ought to know each and every detail pertaining to your credit card. Did you ever heard about the grace period of a credit card or a credit card grace period? No ? Then, this article is for you! Keep reading to know what a credit card grace period is .

Credit Card Grace Period

Credit Card Grace Period is when you make a purchase using your credit card and you may get time to pay off the new balance without paying any other charge.But what is a grace period, is it going to be any favor or any blessing ? Yeah, it is sort of. But it is define as a period of time a credit card company gives you to pay your new charges without paying any interest on the new balance.

The grace period starts:

The grace period starts from the end of a billing cycle to the next payment due date. if you are willing to or pay off the new balance before the due date , then you do not have to face the interests or any other finance charges or any late penalties.

For instance

.  Suppose that you purchase a $300 device using your credit card on June 15. Your billing cycle ends on  June 30 while the payment due date is July 15. If you do not have any unpaid balance and pay the amount $300 on or before the June 30, then your next bill will manifest a starting balance of zero, supposing that you make no other charges during that billing period.

Limitations On Grace  Period

Credit companies are not good to provide you with the grace time period,  but however, if your creditor offers you a grace period, then the details should be explicitly described in your credit card agreement that so you may not face any trouble in future.

Credit Card Grace Period Explaination

The details encompass the duration of time in which you are supposed to payoff your balance before incurring new finance charges. There are many credit card issuers who don’t offer you a grace period if you don’t pay off the balance monthly. But in case that you are carrying a running balance each month then, it is otiose for you to have a grace period.

You have to face finance charges along with the interests if you don’t payoff the full balance within due date. The interest and other charges will start from you make your first charge so beware while dealing with paying off the balance. If you have an unpaid balance in your credit card , then the interest charges will be made to every new purchase that you make.

Thus, scrutinize the matter carefully and pay the charges or make payments before or on due date. If you are looking to edit the details on your credit card statement , then contact us at editbankstatements and get to us and our team who are available round the clock to serve you. Contact us without any hesitation.

Disclaimer: Services provided here are only for Novelty, Education and Entertainment purposes only.