Facts that you need to know ..

I would like to point out some factors regarding the payments that we make, and the very simple things that we need to keep in mind. Suppose you have a credit limit of $2000 and you balance is $1950. Your due date is today, and you would want to make some purchases worth $150. The easiest solution that comes to your mind is, pay $100 over the phone as the payment reflects in the account within a couple of hours, after which I can go ahead with my transactions in the evening. Well, to tell you the truth, that is NOT a very wise idea. If you are making a payment over the phone, or a rush payment online for that matter, the bank CONSIDERS the payment to be made today so that you do not get a late charge, however the funds are NOT AVAILABLE today, but within 2 business days. This means that you have the idea that you have about $150 available to spend, which you actually don’t have. As a result, you gat charged for over the limit fee, which is something around $20 to $30 for the majority of banks. So, please remember , ALWAYS CHECK YOUR AVAILABLE amount before you do purchases.