Understand Ecommerce Checkout Flow

Ecommerce Checkout Flow– Every big or small brand is now taking their business online due to the boost in the e-commerce industry. This means, along with the physical store, every merchant now wants to have an online store as well. This is a good idea for a merchant to expand and increase his revenue. However, not everyone is good at handling the e-commerce business on their own. This is because of the competition and lack of guidance.

One of the important aspects of online business is the checkout process. The checkout process is where your visitors get converted into the customers. If not done right, you can lose the e-commerce business due to excessive loss. 

Although, there are many successful e-commerce businesses that are doing really well and you can learn from them. Along with that, in order to boost your business, you can take help from experts.

What Is ECommerce CheckOut?

It is a designed interface and a customer must go through it to purchase an item. As soon as the customer clicks on the checkout button the process starts. Generally, it contains steps like entering personal details including name, address and contact information. Other than that, the customer will be asked to choose the mode of payment and enter details depending on the mode chosen.

For example: If a customer chooses to make the payment using the credit card then he will be asked to enter the credit card details depending on the company’s norms.

Once the checkout is completed successfully, the customer will be notified regarding the recent purchase using the contact information provided by him.

How Does ECommerce CheckOut Work?

From the customer’s point of view, the checkout process is as easy as entering the details and getting the products. However, for a merchant, the checkout process is a whole different story.

An ECommerce checkout process is the flow of valuable data that needs to be processed carefully at every step. Generally, a customer goes through following steps during an ECommerce Checkout Flow:

After liking a product or service, the customer clicks on the “Add to Cart” button.

Then the customer is directed to the cart where the confirmation is asked whether the customer wants to “proceed to checkout” or go back to “continue shopping”.

Once clicked on “proceed to checkout”, the user will be asked whether the customer wants to check out “as a guest” or “sign in”.

After choosing the desired method, the customer will be asked to enter the details.

Finally, “place your order” will pop up on the screen.

After clicking on this button, a customer needs to make the payment by choosing the desired mode.

Once the customer successfully completes the payment, he will receive confirmation of the purchase.

Few Factors to Consider While Choosing A Payment Gateway For Your Online Businesses

You can follow this article to compare the Payment Gateway provider in the market. For more information, you can contact Merchant Stronghold for the assistance. Also, we can help you choose and compare Payment Gateway Provider.

Factor 1 – Fees and Additional Fees for the Services

The transaction processing fees and other fees for the services can affect your profit. As a merchant, you should compare the payment processing fees of the services and then get the one that is required. Here are the different fees or charges that a payment gateway service provider can ask.

• Monthly fees
• Termination Fees
• Setup fees
• IRS (Internal Revenue Service) fees
• Batch fees
• Contract Fees
• Annual fees
• Customer service fees
• PCI (Payment Card Industry) compliance fees
• Statement fees

These are the list of fees that a payment gateway provider can ask. There could be more than what are available in the list above.

Factor 2 – Allowed Card and Payment Types

Types of cards and payment types should be allowed while accepting the payment to help the merchants to compare Payment Gateway provider. Here is the list of popular Card Service Providers:

• VISA
• MasterCard
• American Express
• Discover
• JCB
• Diner

You must choose the card acceptance according to your customers. Also, compare Payment Gateway provider depending on the majority of card payments you get.

Questions that you can Ask while comparing Payment Service Providers – Merchant Stronghold

• Which is the best payment gateway for your business?
• How to add your website with payment gateway
• What is payment processor fees in the current market?
• Which is the best payment gateway for micropayments?
• What is payment gateway charges in the USA?
• Which is the best payment gateway API?
• What is the best payment gateway for Bigcommerce?
• Payment gateway providers list
• Which is the best payment gateway for small business?
• The best online payment processor for your business?
• What are available online payment gateways?
• Which is the best payment gateway for international transactions?
• Credit card processing comparison chart

You can use this guide to compare payment gateway provider. If you are looking for more details then feel free to contact Merchant Stronghold for the assistance.

Credit Card Payment Processing for Apparels Stores

Payment Processor for Apparels Store

Three things that your payment processor should fulfill are:

1. Connect from anywhere

2. Connect to any payment

3. Connect via the device of your choice

It is important for the merchant to choose a payment processor that provides a comfortable payment experience to his/her customer so that you can win customers trust as well as his loyalty. It is important to understand what your requirements are while choosing a payment processor. Few “must haves” are:

FLEXIBLE PAYMENT PROCESSOR

Payment processor should work in favor of your business and customer, both. It should be well integrated, should reflect working of the business (how business operates), the type of payment accepted and back-end system. A highly integrated system works as a lifeline for the merchant and the business.

SCALABLE

Payment processor should be able to cop up with the growth of the business, else merchant will end up in wasting a lot of time, resources and money in the up gradation of payment processor.

SUPPORTIVE

There are times when things do not work as planned. Choose a payment processor provider that is by your side when needed. The provider should be available either by phone or through email or live chat whenever needed.

Painless Payment Processing Service

When we talk about payments, the first thing that a merchant would expect is a secure and uncomplicated payment processor. But it is common to come across certain complications like wrong entry, human error, duplicate authorization etc. While dealing with these issues, it is also important to take care of data security and compliance. So choosing a payment processor that simplifies these complexities rather than increasing the mess is a highly important decision that every merchant has to take.

FINAL WORDS

We at Merchant Stronghold are a leading provider of payment processing services. We have a long list of happy customers who are engaged in the apparel industry and hence, we can do the same for you! Our team understands the unique needs of various industries including clothing and they are the best professionals to meet your business needs.

Reasons To Denied Your Credit Card Applications

Let’s now discuss various possible reasons for declination of application for credit card processing :

Age

Your age is another factor for the denial of your request. If you are under 18, the issuer will not accept your request, as it is not the legal age. Your age is another factor for the denial of your request. If you are under 18, the issuer will not accept your request, as it is not the legal age.

Incomplete Application Form

If you don’t complete the application form completely or correctly, it can lead to denial. So it is better to apply for credit card processing online as it will not submit your request until and unless all the fields are full.

Loan Balance

If you want to apply for credit card processing, make sure that you pay your loan balance regularly if any. When you apply for credit card processing, your credit history is checked and if it is negative, the bank or the processor will hesitate to accept your request to avoid risk.

Healthy Credit Balance

It is good practice to keep your credit balance healthy. In other words, you should only use a portion of the credit available instead of using it to the fullest. Healthier the credit card score more are the chances of approval.

Inquiries on Credit Report

It is advisable not to apply for many credit cards or credit cards processing, especially in short span of time; this may lead to declining application. Lesser is your credit inquiries; better are the chances of getting your next approval when you would apply.

TMF or Matchlist

If you are on Match list or get as a TMF merchant it would be a big reason for not getting approval for your Credit Card Processing Account.

Don’t Fulfill the Minimum Requirement

Your request rejection can be due to not fulfilling minimum requirement like you don’t have an SSL secure and PCI compliant website. Or you have rejection by any card brand processor, or any Data compromise investigations was there for you and your business.

As a conclusion, you need to make sure before applying for a credit card processing and get ready, you choose a payment service or merchant service provider who can proactively help you with this.

How to Accept Payments Through Echeck Processing?

Echeck Processing Merchant Account for High-Risk Business

If your business already accepts credit and debit cards, your present Merchant account Provider might be willing to incorporate ACH preparing to your effectively existing system. Organizations, for example, Merchant Stronghold offers both cards and Echeck Payment Services to online businesses.

Once you’ve recognized a processing account that concurs with your requirements, the time has come to fill out the application. The data required will incorporate your evaluated processing volumes, and in addition the years your business has been in operation. The application process is normally quick and simple, and approval typically takes a couple of days.

How Echeck Processing Works?

In some ways, Echeck processing is like paper check handling, although it is faster and more efficient Echeck Payment Processing generally takes place in the following steps.

The purchase is Approval- To approve the purchase, a client can either round out an online form or converse with the merchant specifically through a recorded telephone call. Simply, after the approval, the merchant can pass the check data to the payment processor.

Payment is Completion- The payment processor supervises the immediate withdraw of the funds indicated by the check from the client’s bank account, and prints out a receipt.

Recurring payments with Echecks- Credit Cards and Debit cards are popular ways to make an online payment. With regards to recurring transactions, e-checks make the sense. Thus, ACH billing is popular among property managers as a reliable approach to gathering the month to month rent.

Fund deposits into the merchant’s bank account- It takes a few days in the wake of starting the transaction for the check to clear and the money to reach the merchant’s record.

Businesses that charge clients settled expenses at each finish of a specified term should, therefore, embrace e-checks as an essential payment technique.

Pleasant Way To Fight Credit Card Transaction Disputes

HOW IT WORKS

When a brick-and-mortar business accepts credit or debit card payments for its products or services signature is available from the customer. The customer is ordinarily physically present to present their card for payment. Having a signature is the merchant’s proof that the customer authorized payment. The product or service delivery was there and the customer was initially happy with their purchase.

But, when an e-commerce business receives payment for an online order. Cardholder verification, proof of delivery and customer satisfaction is more difficult. The reason being there is no visual card examination or in-person customer contact with a written signature authorization. These are defined as card-not-present transactions.

Customers who use credit and debit cards to make online purchases have an advantage over other customers. Because they can contact the bank who offers their card and ask for their money back when they are unhappy with a purchase. That too without first contacting the merchant.

TRANSACTION DISPUTES

There are a variety of reasons for transaction disputes and cardholders have 60 days in which to file a dispute.

As soon as a cardholder disputes a transaction, one of two things will happen. The issuing bank will make a retrieval request or initiate a chargeback.

When an issuing bank contacts a merchant to obtain information about a transaction before initiating a formal chargeback case. This is an issuing bank’s first attempt to settle a dispute and can get via email or over the phone. Or through a conference call with the customer and the merchant.

During this process, the merchant gets an opportunity to explain why the transaction is valid. As a result, the retrieval process is not often used because customers are reluctant to confront a merchant over the phone.

Credit Card Payment Processor

So, successfully fighting a chargeback demands knowledge of the rules and regulations set out by card brands, banks, and payment processors. Also, the chargeback reason codes. Each card brand has their own chargeback reason codes. This defines the general justification a customer has for filing a chargeback. And, helps merchants know what documentation is must validate transactions.

So, the key to validating transactions and winning or losing chargeback claims depends on having a broad knowledge. Knowledge of online payment processing and the transaction dispute resolution process. To be effective, merchants need to have a specially trained in-house team. Or to hire an outsourcing agency to handle chargebacks effectively.

How to Choose your two -card Westpac, American Express Credit Card?

While Westpac never again issues its own American Express cards, another organization with AMEX – whereby American Express issues and administrations cards bearing a Westpac logo – gives spenders another approach to continue gaining long-standing customer points at higher rates than through a Visa or Mastercard alone.

The new approach gives you three decisions to make amid the application procedure: which reliability program to take (Altitude Rewards or Altitude Qantas), regardless of whether you'd like a Platinum Visa or a Black Mastercard (issued and serviced by Westpac), and whether you'd prefer a Platinum or Black AMEX issued and serviced by American Express.   

You can even blend and match – so in the event that you, for the most part, intend to spend on AMEX to acquire the most elevated number of points, you might pair the American Express Westpac Altitude Black Card with the Westpac Altitude Platinum Visa, to minimize your annual fees while maximizing your AMEX points.

Choosing Rewards Program

Get things off by assigning your preference for either Altitude Qantas – where every one of the points you gain is automatically transferred to Qantas Frequent Flyer every month – or Altitude Rewards, from which points can be changed over to programs like Velocity, KrisFlyer, and Asia Miles. 

Importantly, the alternative picked here applies to both your cards, so while you can combine a Platinum Visa with a Black AMEX, you can't have Altitude Qantas appended to one card and Altitude Rewards to the other, so pick wisely.

Westpac Visa/Mastercard

The hardest decision here is which reliability program to take – once you have that arranged, the rest is more clear – so, at this progression, it's a decision between the Altitude Black Mastercard and the Altitude Platinum Visa, both issued and serviced by Westpac.

Choose American Express Westpac card 

At last, your decision between the AMEX Westpac Altitude Black Card and the AMEX Westpac Altitude Platinum Card, both issued and serviced by American Express.

Keep in mind, you don't have to pick a similar card 'same color' as your Visa or Mastercard – you can combine a Platinum Visa with the Black AMEX, or the Black Mastercard with a Platinum AMEX.

 

Simply take note of that in spite of the fact that the reliability points you gain will be joined with your other card, the American Express card itself is a separate product, with its own online banking, card statements, yearly charge, credit limit and capability rules.

MasterCard is Bringing New Cards with Fingerprint Sensors & Eye Scanning Features

Mastercard is holding converses with banks in the U.K. about offering biometric payment cards to market.

The Mastercard firm has been testing cards with inbuilt fingerprint scanners, which are utilized to check customers' identities.

This is expected to replace the use of passwords and accelerate the process of making payments online and contactless transactions in-store.

A representative for the organization affirmed to CNBC on Monday that it was talking with banks about launching the biometric cards.

"The utilization of passwords to authenticate somebody is woefully outdated, with consumers forgetting them and retailers facing abandoned shopping baskets," said Ajay Bhalla, leader of global enterprise risk and security at Mastercard.

"In payments technology, this is something we're surrounding as we move from cash to card, secret key to the thumbprint, and past to creative advances, for example, computerized reasoning. It's far less demanding to verify with a thumbprint or a selfie, and it's more secure as well."

The push toward biometrics echoes a more change occurring in the payments industry at this moment. In January, the European Union implemented the Second Payment Services Directive (PSD2), a regulation aimed at speeding up transactions and giving third-party firms access to banks' customer information so that they can build better products.

Under the new guidelines, customers are required to affirm their identity every five times after they have made a contactless payment. Mastercard said the biometric tech is at present being trialed in South Africa. Visa — Mastercard's main rival — is likewise trying biometric cards in Cyprus.

PSD2 has put banks and major money financial services providers under extreme strain to enhance their digital capacity and open up their information to outside developers. Banks are treasure troves with regards to financial data, compiling immense amounts on a regular basis.

Moving towards biometric types of payment like fingerprint sensors and eye-scanning tech — TSB, for example, said last year it wants to be the primary European bank to roll out iris authentication — to make payments less complex is likewise anticipated that would enhance money related security and handle extortion.

Some Most Reliable Online Payment Gateways

The world is in a process of digitization. Relatively every business has an online space to have its customers multiplied by expanding its reach. All things considered, numerous organizations have joined hands with a few payment gateways that are vigorous, adaptable and guarantees security to its customers.

Joining hands with the correct payment gateways helps the business to spread their span and to approach customers from across the borders. This additionally decreases the risk of payment failures and furthermore assure them for a more secure and responsive payment processing.

Here are payment gateways, that give you the best security features:

Globepanda Payment Gateway

Globepanda payment gateway is outstanding for its solid and powerful fraud and risks recognizable proof system which has different security features including the check of the card number in the negative database. It additionally checks the IP address from which the payments have been proficient.

There is day by day audits to keep up security certification and this has earned us the Standard of compliance certificate which makes it a dependable and reliable organization. Hailing transactions which are high-risk and might be false don't experience therefore making secure both the merchant and customer data is constantly ensured.

Amazon Pay Payment Gateway

Users have built a trust in Amazon since their shopping background with Amazon has never been frustrating. Utilizing Amazon Pay, this web-based shopping website has offered other online merchants additionally to pick up the comparable trust of the customers.

The Transaction is secured by the Amazon A-to-z Guarantee and online merchants have the consolation of its advanced fraud protection and payment protection policy.

Telr Online Payment gateway

Telr is prime payment gateway and gives you a few brought unified APIs and tools that allow businesses to acknowledge and oversee online payments through the web, mobile and social media like Instagram, Facebook and increasingly and that too with incredible efficiency.

The payment gateway recently launched Telr Secure, making security a best need for ventures.

utilizing an arrangement of calculations and standards to distinguish any markers of the fraudulent transaction and immediately prevent them from happening.

Don't hesitate and perform Payment Gateway Integration right away, harness the true power of online payments and you will be more than impressed with how much this can benefit your business! More information for you can contact us - +1 (888)622-6875

Accept Credit Card Payments for Automotive Tires Stores

Mаnу tirе dеаlеrѕ аrе ѕtill doing invoicing, invеntоrу mаnаgеmеnt аnd accounting withоut thе uѕе of a роint of ѕаlе соmрlеtе business mаnаgеmеnt software solution. Chаnging to a POS саn bе frightеning and оvеrwhеlming; with thе орtiоn tо imрlеmеnt a POS nоt even соnѕidеrеd due to thе perception оf an nоn rеvеnuе соѕt item. Bаѕеd uроn оur сuѕtоmеr input аnd the personal еxреriеnсе of thе реорlе оn оur ѕtаff, we know уоu саn turn уоur рареr intо рrоfit.

Cоnѕidеr thiѕ. I believe thе mоѕt important rеаѕоn fоr уоu tо invest in POS аnd gеtting a соmрlеtе buѕinеѕѕ mаnаgеmеnt software ѕоlutiоn, iѕ Control! With POS ѕоftwаrеѕ such аѕ 

Tirе Pоwеr уоu hаvе complete control оf уоur:

Invоiсing (no miѕѕеd trаnѕасtiоn dеtаilѕ $$$)

Inventory Management (knоw inventory lеvеlѕ instantly and сrеаtе work оrdеrѕ in ѕесоndѕ $$$)

Aссоunting (real timе GL transactions, rесеivаblеѕ аnd payables $$$)

For mаnу, juѕtifуing the соѕt оf a роint оf ѕаlе ѕоftwаrе solution is shut dоwn withоut соnѕidеring thе TRUE соѕt ѕаvingѕ tо уоur bottom line. Thе easiest аnd mоѕt imроrtаnt ѕаvingѕ tо rесоgnizе is Timе! Timе saved сrеаting an invоiсе, mаnаging invеntоrу lеvеlѕ аnd ассurаtе ассоunting in rеаl time. How dо you рut a price tag оn timе? The mоrе timе уоu save bу uѕing POS with the more time уоu hаvе to ѕеll ѕеll ѕеll!

Itеmѕ nееdеd tо gеnеrаtе rеvеnuе such аѕ Tire mасhinеѕ, tооlѕ, аlignmеnt rасkѕ аnd ѕеrviсе trucks, individuаllу аrе оnlу involved in a certain percentage оf уоur total trаnѕасtiоnѕ.Pоwеrful POS аlоng with software iѕ invоlvеd in EVERY TRANSACTION EVERY DAY YEAR AFTER YEAR AFTER YEAR. Nоt only еvеrу trаnѕасtiоn but еvеrу dоllаr уоur buѕinеѕѕ gеnеrаtеѕ!

The роwеrful, yet easy-to-use tооlѕ уоu nееd tо bеttеr manage аnd соntrоl уоur dеаlеrѕhiр operation оf уоur auto tirе business:

• Intеgrаtiоnѕ with ATD, TCI, аnd mаnу other tirе аnd wheel diѕtributоrѕ across the US аnd Cаnаdа
• Create accurate Rеоrdеr Rероrtѕ for invеntоrу rеѕtосking in juѕt ѕесоndѕ
• Imрrоvе shop ѕаlеѕ рrоduсtivitу with роwеrful point-of-sale tооlѕ ѕuсh аѕ Vеrifоnе VX520
• Quiсklу import suppliers’ саtаlоgѕ fоr invеntоrу ѕеt-uр аnd maintenance
• Arе уоu a service ѕhор оr wholesaler as wеll? Mеrсhаnt Strоng hоldѕ will hеlр you manage thаt, tоо!

Nоtе: Autоmоtivе tirе stores are еxресtеd tо dо mоѕt оf their business viа terminal if thеу need a рауmеnt gаtеwау оnlinе (contact Merchant ѕtrоnghold tо knоw more about thiѕ)

Credit Card Acceptance for E-Commerce Businesses

The answer for “how to get the access of payment gateway and accept Visa, MasterCard, American Express and Discover” in simple words is, the business needs to establish a Merchant Account. But, this doesn’t the only solution as Merchant Account, is just the service that is provided by the banks that will help to accept the electronic mode of payment. Businesses can choose between the elaborate array of collections banks from across the world have ACH, Check Processing, Credit Card Acceptance, Point of Sale System, etc.

The choice of services sometimes creates a lot of confusion for business owners to choose the perfect services according to their business type and what are the exact requirements for the application of the Merchant Account. For the ease of business owners Merchant Stronghold, with their industrial experiences can help them to choose from the perfect option according to their business. For the application of Merchant Account the business owners need few of the basic documents:

A letter that is specified with the details and nature of the business, Fulfillment Agreements, DBAs etc

Articles of Incorporation of the business, Tax documents etc, Fictitious filings etc

Address and ID proof of the owner(s). If the physical address of the business exists the proof of that also needs to be attached with the application. Utility Bill and Passport recommended.

Personal and/or Business Bank Statements, Tax returns are important. This provides financial strength and stability to the business.

Merchant Stronghold can help businesses to establish the Merchant Account and provide a gateway terminal to accept payments across the world. One thing that comes while collecting the payment of through electronic methods is the customers have the right to dispute the transaction if they are not satisfied with the merchant’s service they directly contact to the bank for the amount that the customer paid for the product or service that leads to Chargeback. Merchant Stronghold will help businesses to fight such situations with all the legal documentation about which businesses many times are unaware.

Currency in England,Wales - Understanding the British Pound Money

The UK’s Bank of England. British Pound includes such as Quid, Nicker, Cable, Sterling.

Importance of the British Pound

The British Pound is the oldest currency still in use today, as well as one of the most commonly converted currencies. The Falkland Islands, Gibraltar, and Saint Helena are all pegged at par to the GBP.

British Pound Notes and the Gold Standard

The first paper notes were introduced in 1694. The Bank of England, one of the first central banks in the world, was established a year later, in 1695. All Sterling notes were handwritten until 1855 when the bank began to print whole notes. In the early 20th century, more countries began to tie their currencies to gold. The strength of the Sterling that came with the gold standard led to a period of major economic growth in Britain until 1914.

The British Pound and the Sterling Area

The British Pound was not only used in Great Britain but also circulated through the colonies of the British Empire. However, as the British economy started to decline the US Dollar grew in dominance. In 1940, the Pound was pegged to the US Dollar at a rate of 1 Pound to $4.03 US Dollars and many other countries followed, by pegging their respective currencies. In 1949, the Pound was devalued by 30% and a second devaluation followed in 1967.

Currency Facts GBP Stats Name: British Pound Symbol: £ Penny: p Minor Unit : 1/100 = penny Central Bank Rate: 0.50 Top GBP Conversion : GBP/EUR Top GBP Chart : GBP/EUR Chart GBP Profile Inflation : 0.50% Nicknames: Pound Sterling, Sterling, Quid, Nicker Coins: Freq Used: £1, £2, 1p, 2p, 5p, 10p, 20p, 50p Rarely Used: £100 Banknotes : Freq Used: £5, £10, £20, £50 Rarely Used: £100 Central Bank : Bank of England Website: http://www.bankofengland.co.uk Users: United Kingdom (UK), England, Northern Ireland.

If you’re searching for any kind of information about currency and You’re in the right place. To get more information British Pound Currency

Visa Process Smoother and Faster for Entrepreneurs

The new visa route, devised with Brexit in mind, is intended to make the visa process smoother and faster for entrepreneurs and was introduced by home secretary Sajid Javid this week during London Tech Week. It will be launched in Spring 2019.

“We want to do more to attract businesses to the UK and our migration system plays a key part in that,” Javid said. “This will help to ensure we continue to attract the best global talent and maintain the UK’s position as a world-leading destination for innovation and entrepreneurs.” The new start-up visa scheme will need applicants to have an endorsement from a UK university or approved UK-based business sponsor, including start-up accelerators.

The cost of the visa and any cap has not yet been decided but a Home Office spokesman said: “This visa will replace the Tier 1 (Graduate Entrepreneur) visa route, which was only open to graduates, so opening that route up to a wider pool. The cap on that was 2,000 per year and we do not expect the cap on this to be less than that.”

Antony Walker, deputy CEO, tech UK, UK’s technology trade body, said: “The new startup visas are a sensible move to encourage those with good ideas to come to the UK. However, for many mid-tier and larger tech companies, there remain serious concerns around Tier 2 visas. We understand that approximately 1,000 tech workers with job offers were refused visas between December 2017 and March 2018. This is a handbrake on economic growth and needs to be urgently addressed.

How to Credit Card Annual Percentage Rate (APR) Could Double?

Credit Card APRs are ridiculously high, averaging 16.75 percent, according to the latest data from Credit Cards (That’s a record high, by the way.) But make a payment misstep, and you could face almost double that astronomical rate for months afterward.

If you’re more than 60 days late on your minimum credit card payment, your issuer may apply a “penalty APR,” which can reach as high as 29.99 percent, according to Credit Karma. This higher rate can be applied to your current and future balances for six months.

When six months have passed, your creditor is required to reevaluate your rates, per Credit. If you’ve made all your payments on-time during those months, you should hopefully have your rate returned to normal.

To find out what your issuer charges, read through your card’s terms and conditions. Not every card applies the penalty—Chase, Citi and Discover offer cards with no penalty APR, according to LendEu—though many do, and those without penalties will likely have stricter requirements. Make sure your payments are on time (or early) by either automating them or setting a calendar reminder when your bill is due.

You need to make at least the minimum payment in order to keep your baseline APR, though you should aim to pay off your entire bill each month so you don’t fall into debt. For help on that, check out some of our debt resources.