Sep
1
Credit card frauds are on a high these days. The article below thus provides you with some valuable tips to prevent yourself from any credit card scams. Firstly, always keep a watch on the card while using it and get it back quickly as soon as the transaction ends because copying the card details takes very little time.
Then, make sure that the companies or websites you are transacting with are accredited and legitimate ones. Always remember that reputed agencies won’t usually ask your card number over the phone. Never entertain unknown e-mail messages which request you for the credit card info via email as these are usually scams.
Do not write the PIN digits anywhere in the card and always keep the card covered so that nobody can copy the card data with the high end technological means like mobile phone camera. Lastly, make sure to keep a record of your card numbers, expiration dates and all the possible contact info of the card issuer which will help to contact them in case of emergencies.
Feb
4
Credit card risk management
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When the credit card issuing merchants have to deal with disputes initiated by their unsatisfied customers, it is termed as credit card risk. These disputes are also called “charge backs”. The customers either complain of false charges or misuse of their credit cards illegally by someone else.
Thus the card issuers need to apply the credit card risk management for protection against the possible losses. If a customer fails to repay his debts consistently for a certain period of credit limit, then the issuers would first reject all his transactions. Then their credit usage might also be frozen. It would help to prevent the over-flowing debts.
Credit card frauds are commonplace and in turn have increased the risks. It is the duty of card holders to inform the bank in case their cards are stolen. The bank must immediately block the card to prevent misuse. While accepting the card, it is wiser to verify its safety features and also tallying the signatures.
Dec
19
A brief history of credit cards
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Credit cards, don’t they sound familiar. They are cards which with one swipe can help you purchase anything you can dream of. The idea of credit cards started way back in the 18th century when a fixtures and furniture trader granted payments in installments to the customers who couldn’t afford to give the money in one shot. Thereby, credit payments initiated and continued for the coming centuries.
The main turning angle was during the beginning of the 19th century. In 1914 a service company called WU started the fresh credit notes which allowed the customers payments through deferment. In the years to follow, other companies followed suit-letting people pay on credit. It was during the post World War 2 economic rise that banks in America began the system of credit cards. People bought products without cash payment.
The Franklin National Bank, New York in 1951 started the plastic credit cards that we recognize today. Once the prospective of this ground-breaking monetary product was stated, numerous banks plunged into the mushrooming marketplace.
Nov
4
What not to do with credit cards
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Credit Cards have brought in a revolution to the retail business over the years. As helpful as it might sound or be, it has more than often negatively impacted the customers. Often customers don’t understand the interest rates and calculation rules of a credit card and tend to swipe it as and when possible. This can be very harmful, in case there is a problem in terms of payoff during the pay date. A credit card user should never make a delayed payment, as it might hamper his or her credit rating. One should be very careful while carrying their cards, as misplacing them might lead to misuse. The secure password, which is required to do online transaction, should never be shared with anyone for security purpose. One should never write down their credit card details anywhere as it can go to the wrong hands and be used up. Credit card should be treated with utmost care!
Sep
20
All about prepaid credit cards
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Have your credit cards spoiled you to an extent where you have found yourself almost bankrupt? Have you tried numerous times to get yourself a new credit card but failed each time because you were rejected for having a bad credit record? Do you think your golden days of no-instant-money-take-out-credit-card have come to an end??? Think again! With the advent of prepaid credit cards bad creditors can continue spending without ever having to bother about getting bankrupt.
Prepaid credit cards can be issued by making a security deposit at the time of issuing it. There is a limit upto which you can spend on that credit card which will depend on the security money. Since there is no scope of debt, even bad creditors can apply for it. However, do not confuse them with debit cards as prepaid credit cards still let you purchase in credit but debit cards don’t. Since these special credit cards keep a check on your spending habits, they are becoming more popular than the regular credit cards.
Sep
17
How to apply for online credit cards
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Prior to applying for an online credit card, you should find out which one to go for. There are myriad options available and you must do your homework well. Search the internet for all the options, visit their websites and compare them carefully. Choose the one whose payment options, etc. suit you the best. The websites offer a lot of information, so you shouldn’t have trouble deciding on one.
Next step is to accurately fill up your application form. You must ensure that you have filled in all the fields properly and accurately. Your application will be rejected if the form is incomplete or if the details provided are false. Various companies differ in the time they require to process your application; an application for a zero interest credit card is bound to take longer.
The options are many today; choose wisely now, to prevent regretting your decision later. Once decided, the online application is a simple affair as the credit card sites are secure and simple to use and the instructions are clear and easy to follow.
Mar
25
Using your credit card to make purchases is a more secure option compared to others but it is not entirely safe. Credit card related fraud has become very common therefore you need to make sure it has some features that make it safer.
One of the most essential features is a zero liability policy. This feature will ensure lost funds are reimbursed if you report any authorized purchases that are credited to your account. The feature is offered by all the major credit card companies but their coverage usually varies. The stolen money is reimbursed by the card issuer.
A temporary purchase number feature is also worth it if you have a credit card. This allows you to create some virtual numbers to use for every purchase you make especially over the internet. The temporary numbers are connected to the real account but you get to determine the constraints under which they are used.
Mar
3
Every person has different need for the credit card. You must know what you require and what the repercussions are if you fail to pay back the debt on credit card. To be on a safer side check the following before getting a credit card:
• Check the bank that is offering the credit card. The credibility of the issuing bank is important for a getting a good credit card offer.
• Take the credit card that is suitable for your pocket. There is no requirement to go for the cards that have more credit limit if you don’t need it. It will unnecessary burden for you as you have to pay more fees for it.
• The billing cycle can help you to actually get the best deal. A low billing cycle will give you less credit period.
• Pay the bills on the due date to avoid the charges. Some banks charge very high on a defaulter. Check that before taking a credit card.
Apr
15
Settle your Credit Card Debt even after Death
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Very often, it happens that when we die, debt collection agencies try to collect the money from our relatives. They will use many tactics, the most famous one is that they show great sympathy and collect the money. They will assure that everything will be okay only to ring back the next month and collect the money.
And we, honoring the deceased, continue paying on these debts. But there is a catch. The debt is buried in the same grave as you were. The collection agencies can approach others only if had co-payees on the loan account. Otherwise, it is none of your business to pay the debt of the deceased.
While your insurances and assets may be used to collect the debt, in no way are your relatives responsible for the debt you took for yourself. The next time the debt collector calls you, ask him to bring in relevant details. Check out if any co-payee is named. If not, then tell him not to bother you again. And they will not, because the law says so.
Dec
6
What to do in Case of Unmanageable Credit Card Debts – Part Two
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Many a times, the method discussed in the first article in this series does not work. The first article asked you to avail a personal loan and clear as well as close all the credit cards except one, which you will use only in case of emergencies. But sometimes it is too late. Your credit rankings fall thereby making it difficult for you to avail a personal loan of the required amount. Let us look for alternatives then.
One of the best alternatives is to make use of the competition among the online moneylenders. These moneylenders are currently competing against each other fiercely. You can make good use of this to turn the competition into your favor.
These moneylenders offer personal loans even if you have a bad credit. This solves your problem. You can also repair your lost credit by way of this loan, which you take to pay off the credit cards and close them. If you pay off this loan in time, you can see your credit ranking going up.
Of course, you will have to pay a heavy rate of interest, but as you now know, the unsecured credit cards carry a rate of interest, which is many times higher than the bad credit unsecured personal loan.
All the Best!