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Understanding your Mastercard® statement and how to pay it

By ATB Financial 13 May 2019 2 min read

So, your first Mastercard payment is coming up. Not to fear. Making payments to your ATB Mastercard is simple with ATB Online and ATB Mobile. We can help you 1) set up your Mastercard account as a new payee, 2) make payments, including set-it-and-forget-it recurring payments and 3) understand interest and how it’s applied to your statement.

 

How to add your ATB Mastercard® as a payee.

Once you complete this step (you only have to do it once), you can pay your bills in any way that’s convenient for you—online or in person.

 
Adding a payee on ATB Online:
  1. Log in and select the Pay Bills tab at the top of the page.
  2. Select Manage Payees.
  3. In the Add Payee field, type ATB.
  4. Select ATB Financial Mastercard® and click Next.
  5. Enter your account number and click Next.
  6. Click Submit.
 
Adding a payee on ATB Mobile:
  1. Log in and select the Settings icon at the top left of your screen.
  2. Select Payee Management.
  3. Touch the “+” icon at the top right of your screen.
  4. Touch the “∨” icon under Payee Name.
  5. Under Choose a Payee, type “ATB”.
  6. Select “ATB Financial Mastercard®”.
  7. Enter your account number and click “Add Payee”.

 

How to pay your Mastercard® statement.

Nothing beats the convenience of paying your credit card statement through online banking. It’s fast, simple and your payment is immediately reflected on your available credit balance—so you can use the funds right away. You can also pay at any ATB ABM, in branch or by phone.

 

Setting up recurring payments.

Wouldn’t it be nice if your Mastercard could pay itself? It can! Consider setting up recurring payments and make regular contributions without having to think about it. Line up recurring payments with your bi-weekly payday or set it up to come out on the same day each month. Get started by selecting Recurring Payments under the Pay Bills tab on ATB Online.

 

A word on interest.

In our last article "How to build good credit and avoid fraud", we talked about how to avoid debt and build a good credit score. But to really wrap your head around it, you need to understand interest—what it is, how it’s calculated and how it can affect your statement.

All credit card purchases are subject to a standard interest rate called an annual percentage rate (APR). It’s possible, however, that you may never pay interest on your Mastercard if you pay your balance in full each month by the due date.

 

How is interest calculated, anyway?

If you carry a balance on your card, interest is charged from the date you made the purchase—and is calculated based on your average daily balance. This means that even if you make a partial payment, you’ll still pay interest on your statement’s full amount. It’s easy to see how interest charges can build up fast.

Remember, the more you pay off, the less interest you pay—so try to pay off as much of your balance as possible each month.



® Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Used under license.

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