Mastercard may be hiding fees and charges in your bill. Understanding your bill will help you avoid unnecessary cost.
Mastercard is arguably the biggest credit card company in America aside from Visa. But they make it easy to become annoyed with their policies and offerings when they don’t tell you about any extra charges you might find on your next bill or statement. Additionally, it’s difficult for people to make a choice about their credit card provider if they don’t know much about the interest rates they offer. We’ll explain both of these aspects and more.
As a big credit card provider, MasterCard has a typical statement outline detailing your various charges and surcharges. The statement may also talk about various processing fees or break down exactly where your money went over the course of the month. Additionally, MasterCard usually advertises for additional accounts and special offers on your statement, but we’re most interested in any extra charges or fees.
As a credit card company, MasterCard both has a processing fee you can expect to see on most of your purchases where it applies. But they also include several other charges to be aware of that we’ll detail now:
It should be noted that the majority of the fees mentioned above are variable, and MasterCard has several special credit cards available that can eliminate or reduce the charges. For instance, there are several credit cards that have “no balance transfer fees” as one of their selling points. Therefore, your statement may or may not have these charges present when you receive it depending on the exact credit card you have with MasterCard. Review your card agreement to see if there’s been a mistake.
Mastercard has a dedicated customer service page, including various weekly asked questions and quick-solution pages. You can also contact them if you need to replace your car quickly or they can connect you to your home financial institution.
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