Layman's Guide to Credit Card Monthly Statements Part 2

In the first part of this two part Layman's guide to credit card monthly statements, we learned about few very important terms that credit card companies use in their monthly statements. This second part continues the process further.

Finance charges

This section will contain the amount credit card company charges for using the credit card. There are few good credit card companies out there who won't charge you a penny if you are good at repayment and clear all your outstanding balances every month. Some are not so good and levy finance charge without giving any regard to your repayment record.

If you find that the finance charges are hitting you below the belt, you can ask the credit card companies to waive it, remember there is nothing fixed with the credit card companies, you can negotiate every bit if you have the right credit history and other credentials.

Read more at: Layman's Guide to Credit Card Monthly Statements Part 2