What should I consider when choosing a credit card? It is important to select one that will suit your needs and lifestyle, and also help you save. Here are some factors to consider:. What are smart ways of using my credit card? When you're smart about using your credit card, it can be a useful tool to manage your finances better.
Here are some ways to use it well:. Credit card fraud involves the charging of expenses or purchase of goods and services without the consent of the card holder. It is a threat that can cost losses to you and your credit card issuer. How can I protect myself from credit card fraud? Important: Until you have reported the loss of your card to the Bank, the Bank will not be held liable for any unauthorised transactions made with the use of your credit card.
If unauthorised transactions are made before the loss is reported, you will have to file for a dispute on your statement so that the Bank may conduct the necessary investigations. You will bear the losses arising from your negligence in safeguarding your Credit Card from loss or theft or the PIN from being disclosed, or your failure to notify the OCBC Bank, immediately after finding that the Credit Card is lost or stolen or PIN is disclosed or if you suspect an unauthorised transaction had been conducted.
You must make a police report and a copy of the report must be provided to the Bank. If you have reason to suspect any suspicious activity with regards to your OCBC Credit Card, please do not hesitate to call the numbers below. How do credit cards work? What is credit card fraud? Credit cards allow you to make purchases up to a certain limit called 'credit limit'. This credit limit is the maximum amount you may charge on a card, and is set based on the information provided when you apply for a credit card.
You will receive a monthly statement which will show you the transactions you've made with your credit card since your last statement. This is the amount that you owe the Bank. You may pay the minimum repayment also known as minimum repayment due , pay more than the minimum, or pay off in full before a deadline. The corresponding amount of credit available is then restored for your continued use. We may earn a commission from offers on this page.
Terms may apply to offers listed on this page. Part of managing your personal finances is handling credit card bills. If you use credit cards regularly, knowing your outstanding balance can help you keep track of how much you owe a credit card company.
But what is an outstanding balance? Keep reading to find out what an outstanding balance is and how it affects you. An outstanding balance is the amount you owe on any debt that charges interest, like a credit card. Most often, it refers to the amount you owe from purchases and other transactions made with your credit card. It's also called your current balance. Your outstanding balance is what you currently owe on your card and can include:.
Card issuers assign specific credit limits spending limits on your cards. Your outstanding balance helps determine how much much credit money left to spend you have available. To find out how much you have left, simply subtract your outstanding balance from your credit limit. Don't forget to include any charges that haven't shown up on your credit card account yet.
Knowing your outstanding balance gives you a more complete view of your credit card debt. Here's a look at some of the details you should know about outstanding balances. Access your credit card account to find your outstanding balance. Most credit card issuers provide access online and through a mobile app.
You can also call the card issuer's customer service phone line to get your outstanding balance. Usually, credit cards list the issuer's customer service phone number on the back of the card.
Then, you log in to your credit card app. Remaining balance and outstanding balance are just two terms used to talk about the amount you owe your credit card issuer. Remaining balance is the amount you still owe after a payment.
Sample 1. Sample 2. Sample 3. Total Outstanding Balance has the meaning assigned to such term in Section 2. Total Outstanding Balance means the total amount of unsecured credit facilities receivables other than credit card receivables and receivables. With outstanding balances, credit issuers also report delinquent payments beginning at 60 days past due.
Timeliness, however, is not as easy to improve since delinquent payments are a factor that can remain on a credit report for seven years. Average balances are not always a part of credit scoring methodologies. Lenders typically calculate interest on revolving credit, such as credit cardsor lines of credit, using an average of daily outstanding balances.
The bank adds all the daily outstanding balances in the period usually a month and divides this sum by the number of days in the period. The result is the average outstanding balance for the period. For loans that are paid monthly, such as mortgages, a lender may instead take the arithmetic mean of the starting and ending balance for a statement cycle.
An outstanding balance is the total amount still owed on a loan. This is the amount of a loan's principal amount i. Borrowers can find this information on their regular bank or loan statements. They can also usually be pulled up from a lender's website for viewing at any time. Outstanding balance refers to the amount still owed on a loan from the perspective of a borrower or lender. Remaining balance instead refers to how much money remains in an account after spending or a withdrawal, from the perspective of a saver or savings bank.
Some lenders charge a fixed percentage, such a 2. Penalty fees like late fees, as well as past due amounts, will typically be added to the calculation.
This would increase your minimum payment significantly. Building Credit. Credit Cards. Income Tax. Student Loans. Your Privacy Rights.
0コメント