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Business & Technical Writing/Credit card interest in Bahrain
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Question
This has reference to the first statement dated [date] on my platinum credit card which was issued last month. On reviewing this statement, I have noticed that you charged finance charges in the amount of $ xx.xx, and you mentioned it as remaining dues interest in the statement.
I did not understand why you charged finance charges before settle the payment on due date . Also, note that the statement due date is on [date].
How can I settle the payment before receiving the statement ? It is very strange to me, I never had an experience with any other credit cards.
Normally, If we do not make a payment in full on the due date, there will be a finance charges, this will be applied on all credit cards.
I never heard such a interest charges which applies before settle the payment on due date.
It is requested that you may kindly look into this matter and please provide detailed clarification on this subject, it would be highly appreciated.
John, I wish I could help you, but I do not know how consumer finance is handled in Bahrain. I just read that it is a mix of sharia law and components of British civil law. So I'm out of my league there. However, I do think your letter expresses your question in a way that someone working for the credit card company should be able to respond to. If, however, you don't get a satisfactory response or, worse, a confusing one, please post again, and I'll do my best to help you.
Take care, and good luck--
Warren
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Answers by Expert:
Warren D. Miller
Expertise
I believe I can answer nearly any question about business writing. That goes in spades if the target audience is a lay readership. I make my living writing and speaking. N.B.: I DO NOT ANSWER QUESTIONS MARKED 'PRIVATE' because I believe that knowledge should be shared, not hoarded. I also believe such questions are likely to be submitted by people trying to cheat. In addition, don't waste your time asking me to write something for you. You don't learn anything if I do that. I'm happy to critique something that YOU write, of course. That's the best way for you to learn how to write well.
Experience
My profession is business valuation, which means appraising businesses whose shares are not publicly traded. This requires in-depth knowledge about a number of disciplines, including economics, finance, strategic management, accounting, anthropology, statistics, and psychology. The left-brain part of me must conduct rigorous research and financial analysis. The right-brain side must then separate what matters from what doesn't and then explain it all in writing (and in everyday English) to people (usually business owners, but sometimes judges and juries) who do not have the expertise that I have been lucky enough to acquire over the years. I love what I do and consider myself fortunate to live in a country where I can do what I love doing and make a nice living doing it. I am glad to help with writing issues, but NOT, please, with any valuation, business consulting, or other non-writing questions.
Organizations
CFA Institute, American Society of Appraisers, Strategic Management Society, Academy of Management, Culver Legion, National Association of Scholars.
Publications
Besides two published books (search for "Warren D. Miller" on Amazon), I have written for the Harvard Business Review, American Fly Fisher, Business Valuation Review, CPA Expert, Academy of Management Executive, CFA Digest, Valuation Strategies, and others.
Education/Credentials
MBA - Oklahoma State U. (1991);
BBA - U. of Oklahoma (1975);
Chartered Financial Analyst designation (2006)
Accredited Senior Appraiser (2006)
Certified Public Accountant (1992)
Awards and Honors
Business Valuation Volunteer of the Year (2001) - American Institute of CPAs
Winner - Oklahoma Humorous-Speaking Contest - Toastmasters International (1971)
Past/Present Clients
Confidential.
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