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Understanding What's a PVC Charge and How it is Calculated
Have you ever received a mysterious charge on your credit card or bank statement that left you scratching your head? One type of charge that many people find confusing is a PVC charge. But what exactly is a PVC charge, and should you be worried if you see one on your statement? First things first: PVC stands for “pre-authorized cardholder validation,” which might sound like a mouthful, but it’s actually a simple concept. Essentially, a PVC charge is a small transaction (often just a few cents) that a merchant uses to validate that your credit card or debit card is active and able to process transactions. The merchant will later reverse the charge, so you won’t end up paying anything extra out of pocket. ...