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What else can I help you with?
Do you have to have a bank account with the bank that issues the credit card?
No - in most cases. As long as the credit card issuer can determine your credit worthiness, it doesn't matter where your bank account is. There is one exception. If you apply for a secured credit card, you must keep a 'security deposit' of a certain amount in the institution chosen by the credit card issuer (usually their own bank).
What steps should you take if there is a suspicious charge on your credit card?
You should contact your card issuer to report the incident.
how does the credit card payment system work?
When you authenticate a payment on a card, the merchant's payment system will send a request to the card issuer to ensure that funds are available either in the account or in credit. The card issuer will supply an authentication code to the merchant approving the transaction. The card issuer will then arrange for the transfer of funds to the merchant's bank.
How does a credit card differ from a debit card?
When you use credit card for purchasing goods and services, the credit card issuer pays for it first and you pay the credit card company. On the other hand, when you purchase using a debit card, your purchases are charged to your bank account.
How do you add another user to your credit card?
In most cases it's as simple as calling your card issuer, providing proper identification, and asking them to add the person to your account. Fair warning, though: you'll be just as responsible for what goes on with the other user's usage of your credit card account as you are with your own usage.
Can you reopen a credit card that was closed by the issuer?
No. The reason a credit issuer closes an account is because they no longer consider you an acceptable risk.
How can I determine if my credit card has been closed?
To determine if your credit card has been closed, you can check your online account, contact the credit card issuer's customer service, or look for a notification from the issuer.
Credit card closed by issuer affect credit score?
Yes. Creditors report to the credit reporting agencies the terms under which an account is closed. It looks bad and is a slightly more derogatory status when an account is closed by the lender vs. closed by the customer.
What is the max charge for a late credit card payment?
Penalties and fees are established by the card issuer and information can be found in the terms of the agreement made when the account was opened.
How can I check my credit card balance online?
To check your credit card balance online, log in to your credit card account on the issuer's website. Look for the option to view your balance or account summary. You can also download the issuer's mobile app to check your balance on the go.
Can I deposit money into my credit card account?
No, you cannot deposit money into a credit card account. Credit cards are used to borrow money from the card issuer, not to deposit funds like a bank account.
Will credit card fraud against you affect your credit score?
Unfortunately, it will reduce your credit score. What happens is that the original credit card account shows as closed, and you have a newly issued credit card account with a new number through the same credit card issuer. It will take at least 2 years before the newer credit card account is seen as a seasoned trade line.
Do you have to have a bank account with the bank that issues the credit card?
No - in most cases. As long as the credit card issuer can determine your credit worthiness, it doesn't matter where your bank account is. There is one exception. If you apply for a secured credit card, you must keep a 'security deposit' of a certain amount in the institution chosen by the credit card issuer (usually their own bank).
Can a credit card company cancel your credit card for non use?
Yes. Read the issuer Terms & Conditions - for example, I have read Amex Gold Business Charge Card; it says there, that they may close the account for any reason within 2 months notice... I have seen o the net people saying that their account have been closed for this reason and I can assume it is a valid reason as card issuers don't need the accounting paperwork for a non-working account.
How can I deposit money into my credit card account?
You can deposit money into your credit card account by transferring funds from your bank account online, through your credit card issuer's website or mobile app, or by visiting a physical branch or ATM.
How can I track a credit card?
To track a credit card, you can log into your online banking account or contact your credit card issuer for information on recent transactions and current balance.
What steps should you take if there is a suspicious charge on your credit card?
You should contact your card issuer to report the incident.
