Information on the statement
Credit card statements are usually issued monthly and include:
> details of transactions made for that statement period
> interest and other charges
> a running credit balance
> payments made and payments due.
Always read your statement carefully and make sure that you understand your obligations as a credit card holder. Statement
information varies for each bank, however you should always check the amount you owe (your closing balance) and when it has to be paid, the amount of credit you’ve used, and the amount of credit available to you.
How much do I have to pay?
To minimise interest, try to pay the closing balance (whole amount owing), every month by the day the payment is due.
If you’re not able to pay the closing balance, you should pay part of it, or at least the minimum payment. The minimum payment is the least amount you must pay each month to keep
operating your account. If you don’t pay the minimum payment
by the due date, your bank may charge a late payment fee and stop or close your credit card.
How can I pay my statement?
Most banks offer a range of payment options which are usually listed on your statement
The basics
How credit cards work provides a basic overview of how a
credit card account operates. It should be used as a guide; for
detailed information on your ANZ credit card account please
refer to your ANZ Credit Card Conditions of Use booklet. If you
would like a copy of the booklet please call us on 13 22 73.
A credit card lets you use your bank’s money as a short-term
loan to buy something you want now, and pay for it later.
When used properly, a credit card can be a great tool for
managing your finances.
There are two main types of credit cards: cards with an
interest free period and cards where interest is charged daily.
Cards with an interest free period
If you have a card with an interest free period, interest on
purchases is only charged if the closing balance is not paid
off in full by the due date each month.
Cards with no interest free period
On these cards, interest is charged from the day you make
the purchase. Typically the interest rate is lower than on an
interest free period card.
Choosing the right card
The type of credit card you choose should depend on whether
you generally plan to pay the full closing balance on time, every
month, or if you need to space your repayments over time.
Some cards also offer rewards programs, where you can earn
points and use them to get rewards like vouchers, discounts
or other products.
How much credit can I get?
The amount of credit (credit limit) you are eligible for is
calculated based on the financial and other information
you provide to your bank when you apply for a credit card.
The bank looks at your employment history, what you earn,
your expenses, other debts, repayment history, things you
own and so on to determine your credit limit.
If the credit limit is higher than you need, you can ask for
it to be reduced.
What if I spend over my limit?
If you do a transaction that takes you over your credit limit,
you must pay the excess amount immediately. If you don’t,
your bank may charge an overlimit fee or close your card.
Using your card
When you use your card, your transaction details are sent from
the retailer or service provider to your bank. Your available
credit is then reduced by the amount of the transaction and
the details are recorded on your credit card statement.
It’s important to carefully check the transaction amount and
other details before you authorise the transaction, and again
when you receive your statement, to ensure that purchases
match the transaction recorded.
Checking statement charges
If you find a charge on your statement you do not recognise
the first thing to do is check your receipts. You may have
forgotten about a transaction made earlier in the month. Some
merchants also have a trading name that is different from the
name that appears on the statement. Or, a transaction may
have been done by an additional cardholder.
If you still believe you’ve been incorrectly charged, the first
step is to contact the retailer. If you are unhappy with the
result, contact your bank’s credit card division. If your bank
agrees you’ve been incorrectly charged, and you have notified
them within a reasonable time, they will reverse the charge
and process a refund to your account.
Fees and charges
Fees and charges vary between credit cards and are charged for:
> account maintenance (for example, annual and rewards
program fees)
> penalties (for example, late payment or over limit fees)
> some transactions (for example, if you withdraw cash using
your credit card).
What is interest?
Interest is a charge for providing credit. ANZ charges interest
on purchases and cash transactions.
Interest can be charged on purchases of goods and services,
cash advances and cash equivalent transactions, for example,
when you use your credit card to get cash from a branch or ATM.
What is a cash advance?
A cash advance occurs when you use your credit card to get cash
from a branch or ATM. Interest is charged from the date the cash
advance is made until the cash advance is paid off in full.
When is interest charged?
For interest free period cards, interest on purchases is
charged if the closing balance is not paid off in full by
the due date each month.
For cards with a lower ongoing interest rate, but no interest free
period, interest is charged from the date a transaction is made.
Interest on cash transactions is charged from the date a cash
advance or cash equivalent transaction is made, until the
transaction is paid off in full. There is no interest free period
for cash transactions.
What is a primary cardholder?
The primary cardholder is the person who opens the
account and is responsible for any debt on the account.
Some banks allow the primary cardholder to nominate
additional cardholders, who can use the credit card
account in addition to the primary cardholder.
The primary cardholder is responsible for all debt on the
account. That is why it’s very important to think carefully
about making another person an additional cardholder, to
agree with them how the card will be used, and to monitor
that usage over time.
Pay Bills Automatically
Your Wells Fargo credit card makes bill paying easier and more secure. It’s fast, safe, and, best of all, there's no extra charge. You don’t have to sign up through Wells Fargo — just contact your service providers and provide them with your Wells Fargo credit card information to set it up.
Save time and stamps by mailing fewer checks.
Automate your monthly payments.
Enjoy protection with Zero Liability against unauthorized transactions when you report them promptly.
Earn rewards when you set up recurring payments through your service provider using your Wells Fargo credit card with a rewards feature.
Chip Technology
A Wells Fargo credit card with chip technology offers broader acceptance internationally and better protection against counterfeit fraud when used at chip-enabled terminals.
Automatic payments
Your payment is automatically deducted from your checking or savings account.
Choose to pay the minimum payment amount, your balance in full, or a specified dollar amount.
Set up and manage your automatic payments online or check your statement to see when your payment will be made.
Online transfer
You want to make a one-time, same-day payment or schedule a future payment to your credit card account.
Payments made before midnight Pacific Time are credited to your account on the same day.
Bill Pay
You like the convenience of paying all your bills in the same place online, using Wells Fargo Online Bill Pay center.
Use your Wells Fargo checking account to pay your Wells Fargo credit card account on a recurring or one-time basis.
Receive email reminders when your bill is due and confirmation of your
payment.
Zero Liability Protection
Your Wells Fargo Credit Card comes with Zero Liability protection at no extra cost. Your credit card has built-in protection features to help ensure you won’t be held responsible for any unauthorized transactions as long as you report them promptly.
Overdraft Protection
Help protect yourself against unexpected overdrafts and bounced checks by linking your Wells Fargo credit card to your Wells Fargo checking account. Once you sign up for this service, if you happen to spend more than you have in your checking account, we’ll automatically make up the difference with an advance3 from the available credit on your Wells Fargo credit card account.
Overdraft Protection is an optional service we provide. For the service to take effect you will need to enroll. You're only charged for Overdraft Protection when you use it.
To sign up for Overdraft Protection, you’ll need a Wells Fargo credit card and a Wells Fargo checking account. Already have both? Sign on to the Wells Fargo Credit Card Service Center and select Overdraft Protection.
If you do not have a Wells Fargo credit card yet, you can enroll by checking the Overdraft Protection box when you apply for a card. Learn more about our credit cards. All credit cards are subject to credit qualification.
Cellular telephone protection
Pay your monthly cell phone bill with your eligible Wells Fargo Consumer credit card and you'll get up to $600 protection (subject to a $25 deductible).
Eligible cell phones are protected against damage or theft, however coverage does not include cell phones that are lost.4
Call your cellular provider (or log on to their website) and request to set up automatic payments. Setting up automatic payments is not required to qualify for the Cellular Telephone Protection benefit; however, you need to pay your monthly cell phone bill with your eligible Wells Fargo Consumer credit card to get up to $600 protection.
Monitoring for fraud
We help protect your account from fraud by regularly reviewing your account for unusual activity.
Balance transfers
You could pay less interest by transferring balances1 from other higher-rate credit cards to a Wells Fargo credit card. You might also be able to lower your overall monthly payments and turn multiple bills into one easy payment. Balance transfer fees may apply.
A balance transfer can give you the flexibility to:
Pay off another credit card or tax bill
Fund large expenses, such as home improvements
Cover emergencies and other unplanned expenses
Pay an individual
If you already have a Wells Fargo credit card, sign on to the Wells Fargo Credit Card Service Center and select Request Balance Transfer to see if you have an offer.
If you don’t have a Wells Fargo credit card yet, learn more about all our credit card products and you can request to transfer a balance when you apply. All credit cards are subject to credit qualification.
Alerts
With alerts, it’s easy to stay informed about your eligible Wells Fargo credit card accounts. You can sign up for alerts that you want to receive via email, text, or push notification.2
Alerts can be sent when:
When a purchase exceeds an amount you choose
Your credit card is used for international, gas station, or online purchases.
Your available credit drops below a certain amount.
Your credit card payment is due.
A payment has posted to your account.
You can add new alerts or change your preferences anytime.
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