Cardworks merchant services pricing6/6/2023 Interest is denoted as an Annual Percentage Rate (APR) or Monthly Percentage Rate (MPR). When you use your credit card, you are borrowing money from a lender, and interest is charged on the due amount unless you repay the full balance within a specified period. Generally, your statement period will be every 30 days the actual dates can vary slightly from month to month. The period in which the reported transactions have taken place. You can keep track of your expenses and bills on an American Express App as well. Any pending amount gets billed with interest in the following month's Card statement. Upon receiving the statement, you pay the full or at least the Minimum Due amount. The bank bills you for all the transactions in a billing month and sends you a monthly Card statement.The retailer gets the money from the bank in a few days. Upon approval, the machine prints two receipts - one for the retailer and the other for your records.Once all the details are verified, the bank approves the transaction. Along with the pin, this information gets transmitted to your issuing bank.
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