Posted on 19 February 2011
Tags: accounts, advantage, amount, approach, balance, balance amount, banking, banking sector, benefit, changes, check on transactions, consolidate, consolidate your debt, consolidation, credit, credit card, credit card account, credit card debt, Credit Score, customers, Debt, Debt Consolidation, development, disadvantage, e-statement, e-statements, expense, expensive debt, Faster, fees and interest, Guide, higher interest, higher payment, how to, interest amount, interest payment, interest rate, least possible payments, lender, low interest, maintain a budget, make your payments, minimum payment, new statements, paper statement, pay, pay off, payment, payment information, payment information chart, payoff, principal amount, strategy, Terms, The bank, transaction, transactions
As technology has drastically improved, the banking sector has benefited from it a great deal. Customers can now access their accounts while sitting at home. This allows them to keep a check on their transactions by viewing their e-statements rather having to wait for their paper statement.
The new statements which were introduced in February 2010 now enable you with the below:
- The summary of the credit card account gives the clear picture of where you stand in terms of the amount owed to the lender. These sections shows where the transactions have been made, the fees and the interest being charged upon that amount and the total amount of credit which has been used and the balance amount left.
- The new statement also provides you with the payment information chart. This piece of information guides you regarding how much time it will take to pay the currently balance off.
The development and the changes made to the statements could now trigger a move within you to pay off your credit card debt as soon as possible. Below are the strategies which you could use so that the balance amount is paid within the least possible time frame.
Categorize the debt
If you have more than one credit card then you need to decide which debt you are going to pay off first. The important factor which should be considered is which lender is charging you with a higher interest rate.
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Posted on 01 December 2009
Tags: balance transfers, Bank of America, Bank of America Corp., Banks, banks terms and conditions, BofA’s clarity initiative, cardholder, cash advances, largest bank in Northeast Florida, nation’s largest credit card lender, News, payment information
On Monday Bank of America Corp. launched a program in which it is offering its credit-card customers an easy-to-understand list of terms and conditions for each account.
Credit Card Clarity Commitment program
It has been said by the bank that in this Credit Card Clarity Commitment program they will provide each cardholder with a one-page summary of all account terms in plain language. The program is an extension of BofA’s clarity initiative that has been launched by the bank earlier this year for its mortgage business.
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