How do you compare to other Check users with Household Bank HSBC MasterCard?
Every month, cardholders need to pay an average of $1069 on their credit card – less than the $1360¹ owed by the average American cardholder!
Credit card companies designate a certain amount of the credit card bill as the minimum amount the cardholder needs to pay to stay in good standing with their credit card company. The credit reporting bureaus keep track of how many months in a row at least the minimum is paid on a credit card, so paying on time can help improve a credit score!
Not all Check users can always cover the entire statement balance. Fortunately, credit cards were designed to help cardholders out when times get tough. As long as at least the minimum payment due is paid, the account will stay in good standing, but the cardholder will have to pay interest on the balance.
Sometimes unexpected emergencies come up, and credit cards can help cover the gap for those expenses. Over the last month, 0.24% of Check users exceeded their credit limit . The CARD Act of 2009 requires cardholders to "opt in" to over-limit charges. This means cardholders get to choose between having a charge rejected because of a maxed-out credit card, or being charged a fee to go over their credit limit.
The above information is based on anonymous, aggregate data from Check users. Neither this website nor Check is affiliated with Household Bank in any way and should not be confused with Household Bank.