The first step in doing a credit card payment is to understand your monthly billing. The following are terms you will encounter:
Statement date – The date that the bill was printed.
Payment due date – this is the day that the cardholder must pay any outstanding balance. Payments made after the said date will be credited, but will also be fined a lateness fee.
Total Amount Due – It consist of the unpaid amount from the previous month, as well as purchases, payments and interest charges for the current month. When the cardholder pays this amount on or before the payment due date, no interest charges will be imposed. Read the rest of this entry »