A dormancy fee is a fee charged by a credit card issuer to a cardholder who has not used their credit card for a period of time. This fee is typically charged on a monthly basis, and is typically around $2-$5 per month. The purpose of this fee is to offset the costs associated with … Read more
Assuming you are asking about credit cards: The average outstanding balance is the balance that a cardholder has on their credit card at the end of each month. This is different from the current balance, which is the balance that a cardholder has at the time they are making a payment. The average outstanding balance … Read more
A magnetic stripe card is a type of credit card that contains a stripe of magnetic information on the back of the card. This stripe can be read by a card reader and is used to store information about the cardholder, such as the account number, expiration date, and security code. The magnetic stripe is … Read more
A reference number is a unique number assigned to a transaction that can be used to track and verify the transaction. Reference numbers are typically assigned by the merchant or issuer and are printed on the receipt or statement. What do you put in payment reference? There are a few things that you can put … Read more
The processing date is the date on which a credit card transaction is processed by the card issuer. This date is typically printed on the customer’s statement. The processing date is used to determine the interest rate that will be applied to the transaction, as well as any grace period that may be applicable. What … Read more
An American Express card is a credit card that is issued by American Express. American Express is a financial services company that is based in the United States. American Express cards can be used to make purchases at businesses that accept American Express. American Express cards can also be used to withdraw cash from ATMs. … Read more
