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Basically it is to pay business expenses. The cost of keeping track of the account, billing statements, postage, customer service expenses,and so forth. Every business includes costs of operation to whatever merchandize or services that are provided.

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โˆ™ 2005-03-23 15:13:20
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Q: Why do credit card companies charge a monthly membership fee?
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Related questions

How do you get a second life account without a credit card?

A basic Second Life account does not require any credit card details or payment information. Premium membership does however incur a monthly charge.

Do you have to have a credit card for membership on Poptropica?

Although Poptropica is free to play, there is a paid monthly membership that provides benefits for a monthly fee. Parents or adults can use their credit cards to buy credits, gift cards, and memberships at the Poptropica store.

Is there a monthly charge for ipod touches?

No, if you buy something, it will charge it to your credit card.

How do credit card companies determine their APRs?


How do credit card companies stay affluent when so many card owners are in serious debt to them?

Credit Card companies issue terms concerning interest rates, that the user must agree to as part of the condition of being offered credit by the issuing company. If a user pays only the monthly minimum amount, required by the issuing company, the issuing company can charge a monthly interest rate that has nothing to do with the actual amount of credit used by the user. Issuing companies can also charge an Annual interest rate. In addition to interest rates, credit issuing companies can sell a debt to a Debt Collection Agency, if the user defaults on a pre-determined amount of payments. It is actually more lucrative for a Credit issuing company if a user does not pay their balance in total and only makes the minimum monthly payments

How often do most credit cards charge interest?


How do you increase my credit limit?

Pay more than your monthly minimum. Credit companies watch that.

Protects you when applying to receive credit?

Calculate the finance charge on a credit card balance of 3,299.19 at a monthly rate of 1.2%.

How do you get free membership on Poptropica?

There is no way to have paid monthly membership without an adult registration of a credit card for the cost involved, or by using a prepaid Poptropica gift card.

Do Capital One credit cards make you pay a monthly fee?

Yes Credit cards have an interest charge that applies to your monthly balance as well as a monthly fee for having a card . Credit cards are vwery expensive . You are better off only using cash .

What protects you when applying to receive credit?

Calculate the finance charge on a credit card balance of 3,299.19 at a monthly rate of 1.2%.

What is the finance charge on a credit card balance of 3299.19 at a monthly rate of 1.2?


What should be the first step in calculating a monthly credit card finance charge?

change the percent to a decimal

Does it affect your credit score if you repay your credit card dues much before your monthly statement is generated?

no, but your finance charge will be lower

What are the membership requirements of the Wine of the Month Club?

For membership in the Wine of the Month Club a person must be over the age of 21 and provide a from of payment to the club for the monthly purchase such as a credit card.

What companies offer check free credit report?

Free Credit Score and Experian are the two main companies that provide credit scores. However, beware of free trials with the companies. They are often difficult to cancel and could charge your credit card.

Can Indian's get membership in pixie hollow?

Yes. But cards are not sold in their area, so you'd have to pay for a monthly fee with a credit card.

How can I receive an instant credit report?

Many smaller companies inquire into credit, but they do not report credit on a monthly basis. On a single-bureau credit report, you'll see the companies that have made a credit inquiry using that particular credit bureau: Experian, Equifax, or Trans Union. (A 3 bureau merged credit report is more appropriate if you want to see companies who have inquired into your credit from all three credit bureaus.)

Is it legal for merchants to charge consumer credit card fees?

Yes; the credit card companies charge the merchants in order to receive payments from them. In some cases (usually at small businesses or ones that do not do a lot of business monthly) the merchants can charge a small fee associated with using the credit card, or set a minimum amount to avoid the fee i.e. any purchase under $5 gets charged a fee, anything above that amount doesn't.

How can credit card companies get the profit?

They can get profit to those who are in need of financial assistance and those who do not update their monthly due payments, where finance charge will be charge to the card holders. +++ Put more simply, they collect the interest on the loans. Each time you use a credit-card you are buying the goods or services by loan. Although credit-card companies do not levy interest on 100% repayments within one month, they do so on any debt carried beyond that.

Do cell phones show on your credit right away after you sign the contract?

No. Cell phone companies do not report monthly payments to the credit bureau. They only check your credit for worthiness.

What are some companies that offer free credit checking in the US?

Free credit checking can be obtained through companies such as FreeCreditReport, and CreditKarma. Another option is monthly trial offers from Equifax, TransUnion, and Experian.

Do credit counselors charge a fee for their services?

"No, most reputable credit counselors do not charge a fee. Instead they look at your debts, monthly payments, and income and help you make a budget that will allow you to get back on you feet."

Calculate the finance charge on a credit card balance of 3299.19 at a monthly rate of 1.2 percent?


How does Gamfly charge customers?

It's a basic process in which one gives the company their credit card information and depending on the type of plan you get, they charge you monthly.