An invalid transaction is a transaction that is voided before it is paid through the consumer’s debit or credit card account.
When a transaction is cancelled, it is displayed as a pending transaction on the client’s account for a short period of time while the process is completed.
Invalid transactions are different from refunds, which are issued after the transaction has gone through the customer’s account.
Erroneous write-offs, incorrectly written-off items and fraudulent purchases are the most likely to be voided.
American Express cards are issued by American Express, a publicly traded financial services company, and are payment cards, credit cards, or prepaid cards.
The average outstanding balance refers to the unpaid portion of any term, installment, revolving or credit card debt that earns interest over a specified period of time.
The minimum monthly payment is the smallest amount of money a borrower can pay on a revolving credit account each month and still be in good standing with the credit card company.
The annual interest rate on a credit card is the annual interest rate that is applied monthly, i.e. the monthly amount charged on the account is one twelfth of the annual annual interest rate.