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Credit Card question

Discussion in 'Payment Processing' started by FireStorM, Jan 4, 2007.

  1. #1
    I would like to know how Credit Cards work , i have bought something $200 online through my Credit card and my bank has deducted $90 from my bank account and the $200 from my credit card :confused:
    SEMrush
     
    FireStorM, Jan 4, 2007 IP
    SEMrush
  2. eddy2099

    eddy2099 Peon

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    #2
    What is your question ?

    If you use your credit card to purchase something, only the amount charged would be deducted from your credit card. Ie, if you purchase something which is $200, only $200 would be deducted from your credit card. Your bank account should not be affected. However, if you linked your bank account to your credit card for it to do auto-payment, at the statement due date, it will deduct the amount from your bank account to your credit card to pay for your credit card bills. Nothing is for free.

    If the $90 is not for your credit card purchase, it may be for something else such as credit card membership fees or fees for missing the payment date or something else.
     
    eddy2099, Jan 5, 2007 IP
  3. FireStorM

    FireStorM Well-Known Member

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    #3
    Ok thank you . I am not understanding , If i buy something $200 , only $200 will be deducted from the Credit card ? They will not take any commission on this ? Every month i buy online stuffs for $200 and $100 is deducted from my bank account + the $200 from my credit card.
     
    FireStorM, Jan 5, 2007 IP
  4. Corey Bryant

    Corey Bryant Texan at Heart

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    #4
    Sounds like you need to contact your bank to find out why they deducted something from your checking account. In the United States, they cannot deduct from your checking account unless you give them permission.
     
    Corey Bryant, Jan 5, 2007 IP
  5. eddy2099

    eddy2099 Peon

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    #5
    The bank is not allowed to charge you extra for the purchase. If you buy something which is $200, you should only be charged $200. The merchant (the one you buy the goods from) is charged a fee for your purchase. Of course, your credit card bank will also charge you an annual membership fees. If you pay your credit card bill before the due date, you should not need to incur anything else. Of course, if you do not pay the whole amount before the due date, your bank will charge you an interest which can be quite hefty.

    Where are you from and which bank did you get your credit card from ?
     
    eddy2099, Jan 5, 2007 IP
  6. Amoy

    Amoy Active Member

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    #6
    call your bank they will give u answers
     
    Amoy, Jan 12, 2007 IP
  7. HumanIngenuity

    HumanIngenuity Peon

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    #7
    sounds like your bank is ripping you off.
     
    HumanIngenuity, Jan 19, 2007 IP
  8. sukantab

    sukantab Well-Known Member

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    #8
    Call the toll free number on the back of your card and ask for explanation.
    You have every right to dispute.
     
    sukantab, Jan 20, 2007 IP
  9. sukantab

    sukantab Well-Known Member

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    #9
    Also, which bank is this? Any us based bank?
     
    sukantab, Jan 20, 2007 IP