Phishing is the malicious attempt to acquire a person's sensitive, pertinent, and private information such as, but not limited to, credit card numbers and passwords. Phishing is considered to be an illicit activity and anyone caught doing it is punishable by law.
Phishing is done when somebody tries to pose as a legitimate business, organization, or individual for the purpose of acquiring a customer or a client's financial information. Phishing may lead to identity theft and possibly a number of crimes more severe than that. It is then everyone's duty to report phishing activities to the authorities.
Phishing scams are rampant over the Internet. In fact, it can be executed with the simple use of an instant message, an email, or both. To do it, a company or an individual sends out mass messages or multiple emails asking for the customer's credit card details for sales confirmation or for something else similar to that. And once the unsuspecting victim bites into the bait, he could then expect his credit card transactions to pile up in the next billing period. This incidence is usually termed as the identity theft phishing.
How Does Phishing Works?
Online stores and e-commerce websites are most prone to phishing. Unscrupulous people could have inserted some web programming into their websites so as to extract customer's data. The customers, on the other hand, being unsuspicious about what's going on, continue shopping until they reach the checkout process wherein they are to give their credit card details.
There are also sites that masquerade themselves as banks sites and financial institutions. With their websites looking very professional and credible, customers feel more than comfortable to input their personal information - only to find out later that they were cheated and those are not the official website of their trusted bank and are not even related to them in any way.
It is then important that proper precaution is practiced at all times when making financial transactions over the Internet. If every client, shopper, and banker does this, then all phishing attempts won't be this extensive. What is phishing if corrupt people aren't getting successful with it? It would then be just a thing of the past and one major hurdle that the Internet community had beaten.
http://www.transactmoney.com/transaction-articles/what-is-phishing.htm
Tuesday, October 30, 2007
Welcome to CreditCards121.com
We are a UK based credit card comparison site offering reviews and analysis of the latest and best UK credit cards. Not happy with just listings of current offers there are numerous articles, tips and tricks and general advice concerning many issues of credit cards and many others on different personal finance subjects also.
Included within the site are subsections that allow you to either compare all the available credit cards, choose from our selection of 0% balance transfers, cards grouped together that have an introductory offer of 0% on all purchases, cash back cards or even offers with a low APR.
These subsections are designed to meet the needs of our visitors, many of whom will be seeking the 0% balance transfer options. You should be aware that many of these offers now have a balance transfer fee applied to them, normally in the region of 2% or £50.
Included in the site are many other articles that offer some fantastic tips that we would recommend visitors read before their next credit card application. These would include our quick guide to balance transfers, credit card comparisons and also using APR to compare credit cards. You will find many more in depth article located with the Case Study section of our site, which offer tips not only focusing on credit cards but many other personal finance issues.
If you have been refused credit before, there may have been a credit card or even a personal loan application that has been refused it may be due to your credit score. Understanding how your credit rating process is determined is an important factor if you need to improve your credit score.
Not only are the articles about the comparison of credit cards recommended, within the advice section of the site we discuss the rise of credit card fraud and in particular identity theft and how to avoid it.
http://www.creditcards121.com/
Included within the site are subsections that allow you to either compare all the available credit cards, choose from our selection of 0% balance transfers, cards grouped together that have an introductory offer of 0% on all purchases, cash back cards or even offers with a low APR.
These subsections are designed to meet the needs of our visitors, many of whom will be seeking the 0% balance transfer options. You should be aware that many of these offers now have a balance transfer fee applied to them, normally in the region of 2% or £50.
Included in the site are many other articles that offer some fantastic tips that we would recommend visitors read before their next credit card application. These would include our quick guide to balance transfers, credit card comparisons and also using APR to compare credit cards. You will find many more in depth article located with the Case Study section of our site, which offer tips not only focusing on credit cards but many other personal finance issues.
If you have been refused credit before, there may have been a credit card or even a personal loan application that has been refused it may be due to your credit score. Understanding how your credit rating process is determined is an important factor if you need to improve your credit score.
Not only are the articles about the comparison of credit cards recommended, within the advice section of the site we discuss the rise of credit card fraud and in particular identity theft and how to avoid it.
http://www.creditcards121.com/
Be credit-wise. Tips for credit cards in Australia.
These days, life without a credit card would be hard to imagine. We have become so used to the convenience of “plastic”, we don’t leave home without it. (Sound familiar?) While you can’t dispute the ease and convenience of not having to pay in cash at the supermarket, petrol pump or pub, here are some handy credit card reminders.
1) Say no to cash advances
Some people just don’t get it, but the bank does. The Interest-free periods offered on credit card accounts never apply to cash advances. In the majority of cases, you will pay interest on the cash right from the second you withdraw it from the ATM or over the counter. The dollar penalty can really add up, so it’s best not to do it. Ever.
2) Watch out for Store Cards. Loyalty can cost you
How often have you been at the cash register and asked if you would like to apply for a store card? Probably plenty of times. Department stores such as David Jones and Myer may offer you the benefits of customer discounts, added warranties and extended credit, but they aren't cheap. Although you don’t pay an annual fee, the interest rate can be considerably higher (sometimes several percent) than alternative credit cards. It’s fine to use them for store specials and loyalty benefits, but pay the balance in full by the due date. In this way you avoid being whacked with huge interest charges.
3. Choose a card that matches your lifestyle.
Think about your spending habits and patterns. For example: if you use a card for extended credit and don't pay off the full balance each month, just a basic payment, choose a card with a lower rate. It may not offer any interest-free period, but the lower interest rate should save you more dollars over time.
If you use your card for everyday groceries or filling up the car, go for credit card with maximum interest-free days. Make sure you pay it off in full each month. This way you get the benefit of up to 55 interest-free days on purchases, as well as rewards, discounts and frequent flyer points. But watch the annual fees on rewards cards.
4. Interest-free periods are void unless you pay in full
Don’t let your credit card get out of control. To avoid paying interest on your purchases, you must pay the full balance – that figure in black and white on your statement (not just the minimum payment required) by the due date. If you don't, be warned. You will be charged interest right back to the date of purchase on each item. In effect, you forfeit the interest-free period on those purchases.
5. Search beyond the local banks
These days, there’s a lot more choice out there - not just the usual local banks. Look at credit unions, building societies, community banks, boutique and online banks. Chances are you may get offered better interest rates or lower fees than the big banks because these new providers are anxious to win business or they are non-profit organisations. We put this theory to the test. We tried HSBC and came up with 5 different types of credit card.
6. Do you qualify for a “relationship discount”?
If you consolidate your banking business and finances with one lender or bank, you can qualify for a special treatment. Loyalty does have its rewards. You can enjoy home and personal loan interest rate discounts, term deposit bonuses, savings account fee waivers and of course, credit card annual fee waivers.
7. Do you qualify for annual fee waivers?
If you spend enough on your credit card on an annual basis, some institutions offer to waive the annual fee. For instance: If your card spend is more than $5000-$10,000 a year, you could choose a card with all the benefits you want and avoid the annual fee. However, make sure you use your card to make purchases you were going to make anyway. Spending up big for the sake of reducing fees or earning rewards points is false economy.
8. Sweet deals? Don't be distracted by them.
Introductory discount rates, fabulous reward programmes and special insurance offers. Some lenders offer enticements on credit cards that can make a big impression on first glance. Be practical. Look at the overall, ongoing cost of credit of any card option. Compare the standard interest rate, interest-free period and annual fees - and weigh these up against the real value (if any) of the added extras.
Credit cards are great. But remember that you are the one in control and responsible for your debt. If you can’t resist a bargain or a shopping centre blitz, leave the card at home. Pay cash.
Cathy Howley is Creative Manager and Copywriter at Options Strategy, Melbourne. The digital agency with the strategy edge. www.options-strategy.com. If you’re looking for a credit card, you could try HSBC credit cards.
http://www.amazines.com/article_detail.cfm/309338?articleid=309338
1) Say no to cash advances
Some people just don’t get it, but the bank does. The Interest-free periods offered on credit card accounts never apply to cash advances. In the majority of cases, you will pay interest on the cash right from the second you withdraw it from the ATM or over the counter. The dollar penalty can really add up, so it’s best not to do it. Ever.
2) Watch out for Store Cards. Loyalty can cost you
How often have you been at the cash register and asked if you would like to apply for a store card? Probably plenty of times. Department stores such as David Jones and Myer may offer you the benefits of customer discounts, added warranties and extended credit, but they aren't cheap. Although you don’t pay an annual fee, the interest rate can be considerably higher (sometimes several percent) than alternative credit cards. It’s fine to use them for store specials and loyalty benefits, but pay the balance in full by the due date. In this way you avoid being whacked with huge interest charges.
3. Choose a card that matches your lifestyle.
Think about your spending habits and patterns. For example: if you use a card for extended credit and don't pay off the full balance each month, just a basic payment, choose a card with a lower rate. It may not offer any interest-free period, but the lower interest rate should save you more dollars over time.
If you use your card for everyday groceries or filling up the car, go for credit card with maximum interest-free days. Make sure you pay it off in full each month. This way you get the benefit of up to 55 interest-free days on purchases, as well as rewards, discounts and frequent flyer points. But watch the annual fees on rewards cards.
4. Interest-free periods are void unless you pay in full
Don’t let your credit card get out of control. To avoid paying interest on your purchases, you must pay the full balance – that figure in black and white on your statement (not just the minimum payment required) by the due date. If you don't, be warned. You will be charged interest right back to the date of purchase on each item. In effect, you forfeit the interest-free period on those purchases.
5. Search beyond the local banks
These days, there’s a lot more choice out there - not just the usual local banks. Look at credit unions, building societies, community banks, boutique and online banks. Chances are you may get offered better interest rates or lower fees than the big banks because these new providers are anxious to win business or they are non-profit organisations. We put this theory to the test. We tried HSBC and came up with 5 different types of credit card.
6. Do you qualify for a “relationship discount”?
If you consolidate your banking business and finances with one lender or bank, you can qualify for a special treatment. Loyalty does have its rewards. You can enjoy home and personal loan interest rate discounts, term deposit bonuses, savings account fee waivers and of course, credit card annual fee waivers.
7. Do you qualify for annual fee waivers?
If you spend enough on your credit card on an annual basis, some institutions offer to waive the annual fee. For instance: If your card spend is more than $5000-$10,000 a year, you could choose a card with all the benefits you want and avoid the annual fee. However, make sure you use your card to make purchases you were going to make anyway. Spending up big for the sake of reducing fees or earning rewards points is false economy.
8. Sweet deals? Don't be distracted by them.
Introductory discount rates, fabulous reward programmes and special insurance offers. Some lenders offer enticements on credit cards that can make a big impression on first glance. Be practical. Look at the overall, ongoing cost of credit of any card option. Compare the standard interest rate, interest-free period and annual fees - and weigh these up against the real value (if any) of the added extras.
Credit cards are great. But remember that you are the one in control and responsible for your debt. If you can’t resist a bargain or a shopping centre blitz, leave the card at home. Pay cash.
Cathy Howley is Creative Manager and Copywriter at Options Strategy, Melbourne. The digital agency with the strategy edge. www.options-strategy.com. If you’re looking for a credit card, you could try HSBC credit cards.
http://www.amazines.com/article_detail.cfm/309338?articleid=309338
Be a Smart User of Credit Cards
Holding a credit card is something that can be a very positive… as long as it is used responsibly. There are many ways for people to use credit cards to their advantage, but credit cards might also get people into financial trouble. By following a few simple tips on managing the use of credit, a credit card can become a beneficial piece of plastic to own.
Establishing Credit
For anyone who has never owned any sort of credit card earlier and has never loaned money, there will probably be very little information (neither good nor bad) on his or her credit report. Without a credit history, it's difficult for credit card companies to determine whether or not to offer a line of credit to a person. In this situation, the credit card companies tend to not offer a card on the side of caution.
However, if there is any credit card company willing to offer a card with a small line of credit to someone with no credit history, then that card should be immediately obtained. It should be wisely used to purchase a few low-priced items, and the monthly payments for that credit card should be made on time. As time goes on, this sort of spending and monthly payment will allow the growth of a credit report with nothing but good marks. A person's credit score can continue to grow higher and higher when they show the ability to handle and pay for their credit card purchases.
Over the time, a person's positive credit report will allow him or her to obtain either additional credit cards or credit cards which have attractive interest rates and other types of benefits.
Don't Charge Too Much
Having obtained a credit card does not mean it should be overused or misused. If a new credit card has a credit limit of about Rs.50000, it is wise to keep the balance on that card significantly lower than the maximum allowed credit. So, using no more than Rs.35000 - at the most - is reasonable.
A credit card company issues the credit limit based on their assessment of how much a person can afford to pay. And, higher balances mean a significant amount of interest must be paid on the balance, which, if not afforded makes the amount due.
If the credit card is used to charge more than the available credit limit, the credit card company will issue an over-charge fee and the user will not be able to use the card again until some of the balance has been paid.
Don’t Make Late Payments
When it's time to make a minimum payment on a credit card balance, PAY IT! Payments should NEVER be late. Late payments can negatively affect a person's credit report, and in turn, lower a person's credit score. Making payments on time, conversely, can help a person build a good credit history and earn a better credit score.
Knowing the approximate date of receiving the credit card bill every month, prepare ahead of time and make sure there is enough money in the bank to send At least the minimum amount due.
Keep Credit Cards Safe
In today's world of being able to easily purchase items via telephone or the Internet, it is important to keep credit cards and credit card numbers safe. If the credit card gets into untrustworthy hands, charges could be made to that card without the consent, authorization or the knowledge of the card owner. While most credit card companies do not hold the cardholders responsible for unauthorized charges, it might not look good if this sort of situation arises more than once.
http://www.honeybeeindia.com/ccsmartuser.action;jsessionid=745138CBDC1F1583DE93237D07525AC4?a2
Establishing Credit
For anyone who has never owned any sort of credit card earlier and has never loaned money, there will probably be very little information (neither good nor bad) on his or her credit report. Without a credit history, it's difficult for credit card companies to determine whether or not to offer a line of credit to a person. In this situation, the credit card companies tend to not offer a card on the side of caution.
However, if there is any credit card company willing to offer a card with a small line of credit to someone with no credit history, then that card should be immediately obtained. It should be wisely used to purchase a few low-priced items, and the monthly payments for that credit card should be made on time. As time goes on, this sort of spending and monthly payment will allow the growth of a credit report with nothing but good marks. A person's credit score can continue to grow higher and higher when they show the ability to handle and pay for their credit card purchases.
Over the time, a person's positive credit report will allow him or her to obtain either additional credit cards or credit cards which have attractive interest rates and other types of benefits.
Don't Charge Too Much
Having obtained a credit card does not mean it should be overused or misused. If a new credit card has a credit limit of about Rs.50000, it is wise to keep the balance on that card significantly lower than the maximum allowed credit. So, using no more than Rs.35000 - at the most - is reasonable.
A credit card company issues the credit limit based on their assessment of how much a person can afford to pay. And, higher balances mean a significant amount of interest must be paid on the balance, which, if not afforded makes the amount due.
If the credit card is used to charge more than the available credit limit, the credit card company will issue an over-charge fee and the user will not be able to use the card again until some of the balance has been paid.
Don’t Make Late Payments
When it's time to make a minimum payment on a credit card balance, PAY IT! Payments should NEVER be late. Late payments can negatively affect a person's credit report, and in turn, lower a person's credit score. Making payments on time, conversely, can help a person build a good credit history and earn a better credit score.
Knowing the approximate date of receiving the credit card bill every month, prepare ahead of time and make sure there is enough money in the bank to send At least the minimum amount due.
Keep Credit Cards Safe
In today's world of being able to easily purchase items via telephone or the Internet, it is important to keep credit cards and credit card numbers safe. If the credit card gets into untrustworthy hands, charges could be made to that card without the consent, authorization or the knowledge of the card owner. While most credit card companies do not hold the cardholders responsible for unauthorized charges, it might not look good if this sort of situation arises more than once.
http://www.honeybeeindia.com/ccsmartuser.action;jsessionid=745138CBDC1F1583DE93237D07525AC4?a2
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