AMHERST, Mass. — They call it the “Johnny Carson attack,” for his comic pose as a psychic divining the contents of an envelope.
Tom Heydt-Benjamin tapped an envelope against a black plastic box connected to his computer. Within moments, the screen showed a garbled string of characters that included this: fu/kevine, along with some numbers.
Mr. Heydt-Benjamin then ripped open the envelope. Inside was a credit card, fresh from the issuing bank. The card bore the name of Kevin E. Fu, a computer science professor at the University of Massachusetts, Amherst, who was standing nearby. The card number and expiration date matched those numbers on the screen.
The demonstration revealed potential security and privacy holes in a new generation of credit cards — cards whose data is relayed by radio waves without need of a signature or physical swiping through a machine. Tens of millions of the cards have been issued, and equipment for their use is showing up at a growing number of locations, including CVS pharmacies, McDonald’s restaurants and many movie theaters.
The card companies have implied through their marketing that the data is encrypted to make sure that a digital eavesdropper cannot get any intelligible information. American Express has said its cards incorporate “128-bit encryption,” and J. P. Morgan Chase has said that its cards, which it calls Blink, use “the highest level of encryption allowed by the U.S. government.”
But in tests on 20 cards from Visa, MasterCard and American Express, the researchers here found that the cardholder’s name and other data was being transmitted without encryption and in plain text. They could skim and store the information from a card with a device the size of a couple of paperback books, which they cobbled together from readily available computer and radio components for $150.
They say they could probably make another one even smaller and cheaper: about the size of a pack of gum for less than $50.
And because the cards can be read even through a wallet or an item of clothing, the security of the information, the researchers say, is startlingly weak. “Would you be comfortable wearing your name, your credit card number and your card expiration date on your T-shirt?” Mr. Heydt-Benjamin, a graduate student, asked.
Companies that make and issue the cards argue that what looks shocking in the lab could not lead to widespread abuse in the real world, and that additional data protection and antifraud measures in the payment system protect consumers from end to end.
“This is an interesting technical exercise,” said Brian Triplett, senior vice president for emerging-product development for Visa, “but as a real threat to a consumer — that threat really doesn’t exist.”
The finding comes at a time of strong suspicion among privacy advocates and consumer groups about the security of the underlying technology, called radio frequency identification, or RFID. Though the systems are designed to allow a card to be read only in close proximity, researchers have found that they can extend the distance.
The actual distance is still a matter of debate, but the claims range from several inches to many feet. And even the shortest distance could allow a would-be card skimmer to mill about in a crowded place and pull data from the wallets of passersby, or to collect data from envelopes sitting in mailboxes.
“No one’s going to look at me funny if I walk down the street and put a flier in everybody’s mailbox,” Mr. Heydt-Benjamin said.
The experiment was conducted by researchers here working with RSA Labs, a part of EMC, an information management and storage company. The resulting paper, which has been submitted to a computer security conference, is the first fruit of a new consortium of industry and academic researchers financed by the National Science Foundation to study RFID.
Security experts who were not involved in the research have praised the paper, and said that they were startled by the findings. Aviel D. Rubin, a professor of computer security at Johns Hopkins University, said, “There is a certain amount of privacy that consumers expect, and I believe that credit card companies have crossed the line.”
The companies, however, argue that testing just 20 cards does not provide an accurate picture of the card market, which generally uses higher security standards than the cards that were tested. “It’s a small sample,” said Art Kranzley, an executive with MasterCard. “This is almost akin to somebody standing up in the theater and yelling, ‘Fire!’ because somebody lit a cigarette.”
Chips like those used by the credit card companies can encrypt the data they send, but that can slow down transactions and make building and maintaining the payment networks more expensive. Other systems, including the Speedpass keychain device offered by Exxon Mobil, encrypt the transmission — though Exxon came under fire for using encryption that experts said was weak.
Though information on the cards may be transmitted in plain text, the company representatives argued, the process of making purchases with the cards involves verification procedures based on powerful encryption that make each transaction unique. Most cards, they said, actually transmit a dummy number that does not match the number embossed on the card, and that number can be used only in connection with the verification “token,” or a small bit of code, that is encrypted before being sent.
“It’s basically useless information,” said David Bonalle, vice president and general manager for advanced payments at American Express. “You can’t steal that data and just play it back and expect that transaction to work.”
While the researchers found that these claims were true for some of the cards they tested, other cards gave up the actual credit card number and did not use a token or change data from one transaction to another. They also took data in from some cards and transmitted it to a card-reader in the lab and tricked it into accepting the transaction. Mr. Heydt-Benjamin, in fact, was able to purchase electronic equipment online using a number skimmed from a card he ordered for himself and which was sealed in an envelope.
http://www.nytimes.com/2006/10/23/business/23card.html
Friday, November 16, 2007
Choosing a Credit Card
When choosing the best credit card for you, in addition to being approved, it's important that the card is tailored to your individual financial needs and objectives with low interest rates. The following information will help you decide what to look for:
Questions And Answers
1. Do you anticipate any large purchases in the next year (i.e., appliances, furniture, etc.)?
If you answered yes to this question, you will require a high credit limit/low interest rate credit card. Although this may seem obvious to some, not all people need these things. You might want to consider getting a card with rewards attached to something you are interested in, such as an airline miles card.
2. How long will you anticipate keeping the principal of a purchase on your card?
You will need a low interest rate if you answered more than 3 months on this question. Don't be discouraged by a low credit limit, however, as you'll save money with a low interest rate.
3. Do you want to pay your entire balance every month?
If you want to pay your entire balance every month, you should consider finding a 0% credit card. For example, as long as you pay your bill promptly and in its entirety every month, credit cards such as American Express won't charge you interest.
4. Are you planning to use this card for purchases over a short time period or do you intend to hold it for a long time?
If you plan on holding on to your credit card for along time, you should look for a card that has a moderate credit limit and a low interest rate. If you wish to use your credit card on a short-term basis only, a card that has an introductory 0% interest rate is best, coupled with a plan to pay off the balance by the end of the introductory term.
5. Do you currently have credit limits totaling more than 40% of your annual income or balances outstanding on those cards greater than 50% of the credit limit?
You may have some difficulty securing new credit cards if you answered yes to any part of this question. Part of your credit score is determined by the amount of credit you carry and the ratio of the balance outstanding to the credit limit. Even if you have paid on time, some banks are unwilling to grant additional credit. Therefore, regardless of how close you are to the acceptable credit rating, the best credit card for you may be a card specializing in bad credit.
http://www.new-credit-card-now.com/Choosing_a_Credit_Card.html
Questions And Answers
1. Do you anticipate any large purchases in the next year (i.e., appliances, furniture, etc.)?
If you answered yes to this question, you will require a high credit limit/low interest rate credit card. Although this may seem obvious to some, not all people need these things. You might want to consider getting a card with rewards attached to something you are interested in, such as an airline miles card.
2. How long will you anticipate keeping the principal of a purchase on your card?
You will need a low interest rate if you answered more than 3 months on this question. Don't be discouraged by a low credit limit, however, as you'll save money with a low interest rate.
3. Do you want to pay your entire balance every month?
If you want to pay your entire balance every month, you should consider finding a 0% credit card. For example, as long as you pay your bill promptly and in its entirety every month, credit cards such as American Express won't charge you interest.
4. Are you planning to use this card for purchases over a short time period or do you intend to hold it for a long time?
If you plan on holding on to your credit card for along time, you should look for a card that has a moderate credit limit and a low interest rate. If you wish to use your credit card on a short-term basis only, a card that has an introductory 0% interest rate is best, coupled with a plan to pay off the balance by the end of the introductory term.
5. Do you currently have credit limits totaling more than 40% of your annual income or balances outstanding on those cards greater than 50% of the credit limit?
You may have some difficulty securing new credit cards if you answered yes to any part of this question. Part of your credit score is determined by the amount of credit you carry and the ratio of the balance outstanding to the credit limit. Even if you have paid on time, some banks are unwilling to grant additional credit. Therefore, regardless of how close you are to the acceptable credit rating, the best credit card for you may be a card specializing in bad credit.
http://www.new-credit-card-now.com/Choosing_a_Credit_Card.html
How to Find the Best Low APR Credit Cards
Low APR credit cards are much more prevalent than in years past. Competition is stiff and credit card financial institutions offer many nice perks, rewards, points, low annual percentage rates (APR) and other inducements. They want to capture new customers who've never had a credit card but also those who already have a credit card and might like to save money by transferring that card's balance on to their new low APR credit cards.
Of course, there is nothing lower in an APR than zero - and those exist too, although sometimes for a limited time period. It may be that the lowest, or even the zero percentage APR is for an introductory period, after which the rate is higher. The permanent APR is what you want to watch out for, of course. Although if you're not opposed to doing a lot of switching, you can always purchase a low APR credit card, or zero percentage APR credit card, transfer the balance from your current high APR credit card, and then, once the introductory time period has expired and the APR is about to go up on your newest credit card, transfer the balance yet again to a brand new low APR credit card.
Let's look at a few of the low APR credit cards out there, so you know what kinds of options are typically available to you.
Citibank, for example, offers low APR credit cards that give you five percent cash back on any purchase you making at grocery stores and gas stations with your low APR credit card, and one percent back for any purchase elsewhere. The APR on transfers is zero for the first year. If your transfer transaction is at least $1500 you will earn $5 cash back with the low APR credit card. There is no annual fee and the APR after the first year is 12.24 percent.
Discover has a platinum clear card whose low APR is continual. The first year the APR is zero, but after the first year it's still a very competitive 9.99 percent. And there is no annual fee. With these low APR credit cards you earn a five percent cash back bonus on purchases made from hardware and home improvement retailers, restaurants, book vendors, and gas stations. If the retailer doesn't qualify you for the five percent discount you will always get one percent back no matter what you buy and from where with this low APR credit card.
Chase Bank offers low APR credit cards as well. Its zero percent APR is good for six months, after which you will pay 10.49 percent. These low APR credit cards have no annual fee, and offer rewards at the rate of one point for every dollar spent with your Chase card. You can get free airline flights and hotel rooms, as well as cruises and auto rentals. This card also provides $500,000 worth of travel insurance for worldwide vacationing. You can also take advantage of a fifteen percent discount off a Hertz car rental with these low APR credit cards.
http://www.informationsuperstore.net/pages/credit/
Of course, there is nothing lower in an APR than zero - and those exist too, although sometimes for a limited time period. It may be that the lowest, or even the zero percentage APR is for an introductory period, after which the rate is higher. The permanent APR is what you want to watch out for, of course. Although if you're not opposed to doing a lot of switching, you can always purchase a low APR credit card, or zero percentage APR credit card, transfer the balance from your current high APR credit card, and then, once the introductory time period has expired and the APR is about to go up on your newest credit card, transfer the balance yet again to a brand new low APR credit card.
Let's look at a few of the low APR credit cards out there, so you know what kinds of options are typically available to you.
Citibank, for example, offers low APR credit cards that give you five percent cash back on any purchase you making at grocery stores and gas stations with your low APR credit card, and one percent back for any purchase elsewhere. The APR on transfers is zero for the first year. If your transfer transaction is at least $1500 you will earn $5 cash back with the low APR credit card. There is no annual fee and the APR after the first year is 12.24 percent.
Discover has a platinum clear card whose low APR is continual. The first year the APR is zero, but after the first year it's still a very competitive 9.99 percent. And there is no annual fee. With these low APR credit cards you earn a five percent cash back bonus on purchases made from hardware and home improvement retailers, restaurants, book vendors, and gas stations. If the retailer doesn't qualify you for the five percent discount you will always get one percent back no matter what you buy and from where with this low APR credit card.
Chase Bank offers low APR credit cards as well. Its zero percent APR is good for six months, after which you will pay 10.49 percent. These low APR credit cards have no annual fee, and offer rewards at the rate of one point for every dollar spent with your Chase card. You can get free airline flights and hotel rooms, as well as cruises and auto rentals. This card also provides $500,000 worth of travel insurance for worldwide vacationing. You can also take advantage of a fifteen percent discount off a Hertz car rental with these low APR credit cards.
http://www.informationsuperstore.net/pages/credit/
Reviewing Credit Card Statements
One of the most important ways to keep track of your finances is to regularly review your statements. This is particularly the case with Credit Cards
Where it might be easy to forget what items have been purchased on it and how much you will be able to repay come the end of the month.
Each month it is important to check your statement thoroughly. Not only is this important as a way to keep track of your finances, it is a vital way to ensure that any instance of Credit Card fraud is discovered as early as possible and dealt with.
If errors do occur on the statement it is imperative that you contact the credit card company immediately to register the problem, as it could become difficult to rectify the problem once you have begun paying back what is owed.
The internet is now increasingly being used by savvy consumers to keep track of their finances and checking on credit card transactions is no exception to this.
Online security has become incredibly tight over recent years, making it much harder for hackers to gain access to financial details and giving consumers greater peace of mind when banking online.
Using the internet to keep a check on your Credit Cards spending means that you will not have to wait until the end of the month to see how much you need to repay, therefore allowing much greater control over your own finances. However, where using the internet is not an option, it can prove useful to keep a list of what you spend on a credit card in the old-fashioned form of a pen and paper. This works equally as well as checking online – provided you always remember to note down your credit card spending – and means you can avoid going over-budget without realising it.
One of the most important ways to keep track of your finances is to regularly review your statements. This is particularly the case with Credit Cards
Article Source: http://www.SubmitYourNewArticle.com
One of the most important ways to keep track of your finances is to regularly review your statements. This is particularly the case with Credit Cards
http://www.submityournewarticle.com/Article/Reviewing-Credit-Card-Statements/234658
Where it might be easy to forget what items have been purchased on it and how much you will be able to repay come the end of the month.
Each month it is important to check your statement thoroughly. Not only is this important as a way to keep track of your finances, it is a vital way to ensure that any instance of Credit Card fraud is discovered as early as possible and dealt with.
If errors do occur on the statement it is imperative that you contact the credit card company immediately to register the problem, as it could become difficult to rectify the problem once you have begun paying back what is owed.
The internet is now increasingly being used by savvy consumers to keep track of their finances and checking on credit card transactions is no exception to this.
Online security has become incredibly tight over recent years, making it much harder for hackers to gain access to financial details and giving consumers greater peace of mind when banking online.
Using the internet to keep a check on your Credit Cards spending means that you will not have to wait until the end of the month to see how much you need to repay, therefore allowing much greater control over your own finances. However, where using the internet is not an option, it can prove useful to keep a list of what you spend on a credit card in the old-fashioned form of a pen and paper. This works equally as well as checking online – provided you always remember to note down your credit card spending – and means you can avoid going over-budget without realising it.
One of the most important ways to keep track of your finances is to regularly review your statements. This is particularly the case with Credit Cards
Article Source: http://www.SubmitYourNewArticle.com
One of the most important ways to keep track of your finances is to regularly review your statements. This is particularly the case with Credit Cards
http://www.submityournewarticle.com/Article/Reviewing-Credit-Card-Statements/234658
Your Credit Eligibility Is a Guarantee of Success
When getting a mortgage or a car loan or a small business loan you realize how important reasonable building of a credit history is. Your credit history is reflected numerically in your credit score.
There are credit bureaus that collect financial information on individuals and estimate a credit score. By the way, they provide some credit fraud protection products. The three major reporting bureaus are: Experian, TransUnion and Equifax. The credit score they provide defines a credit card you may qualify for. But information on your scores provided by credit bureaus may differ. You are strongly advised to review your reports to manage your credit. You have the right to claim for three reports from major bureaus every year. When you get the report you can see whether you match the criteria to get a good or bad credit card.
If your score is 660-749 you may qualify for a good credit card. This gives you such considerable benefits as low APR, 0% balance transfers and various rewards.
If you have a score rating of 620-659 FICO points you can qualify for fair (average) cards. This means you are on the way to a good credit history. Fair cards are unsecured credit cards, considerably contributing to your future. A fair credit score is a transition point between poor and good credit. Being a reliable payer you increase your chances to get a good card.
The score lower than 620 is a bad score. Bad score cards can be divided into secured and unsecured. Secured credit cards demand security deposit which determines your credit limit. If you are late with your payments the money will be taken from your account. You may also apply for an unsecured card for bad or no credit. This is the best way to reestablish your credit history, as they don’t require a deposit and this is good for your report.
Prevention is better than treatment, so you should be familiar with all the credit card details to build your credit history, and not to rebuild it in future. Make sure to get your annual reports and check them out carefully in order to avoid credit fraud, such as identity theft, card scam, Internet fraud etc. Follow some simple tips to escape it. Never tell your personal card details to anybody. Tear your credit card receipts. Try not to always carry your card with you. Report your card loss or theft to the bank immediately.
Obtaining good credit history is a gradual process. Starting from secured bad credit card and ending with good scores it is the result of smart financial behavior. Study carefully how to deal with credits and to avoid debt. Profound knowledge of credit reporting mechanisms will be of a great use. Apply for your card, become eligible and get approved!
Article Source: http://www.SubmitYourNewArticle.com
Azra Jansson is an expert in establishing a new credit. She writes about determining your credit eligibility. She gives advice on customer eligibility for getting a loan.
http://www.submityournewarticle.com/Article/Your-Credit-Eligibility-Is-a-Guarantee-of-Success/235371
There are credit bureaus that collect financial information on individuals and estimate a credit score. By the way, they provide some credit fraud protection products. The three major reporting bureaus are: Experian, TransUnion and Equifax. The credit score they provide defines a credit card you may qualify for. But information on your scores provided by credit bureaus may differ. You are strongly advised to review your reports to manage your credit. You have the right to claim for three reports from major bureaus every year. When you get the report you can see whether you match the criteria to get a good or bad credit card.
If your score is 660-749 you may qualify for a good credit card. This gives you such considerable benefits as low APR, 0% balance transfers and various rewards.
If you have a score rating of 620-659 FICO points you can qualify for fair (average) cards. This means you are on the way to a good credit history. Fair cards are unsecured credit cards, considerably contributing to your future. A fair credit score is a transition point between poor and good credit. Being a reliable payer you increase your chances to get a good card.
The score lower than 620 is a bad score. Bad score cards can be divided into secured and unsecured. Secured credit cards demand security deposit which determines your credit limit. If you are late with your payments the money will be taken from your account. You may also apply for an unsecured card for bad or no credit. This is the best way to reestablish your credit history, as they don’t require a deposit and this is good for your report.
Prevention is better than treatment, so you should be familiar with all the credit card details to build your credit history, and not to rebuild it in future. Make sure to get your annual reports and check them out carefully in order to avoid credit fraud, such as identity theft, card scam, Internet fraud etc. Follow some simple tips to escape it. Never tell your personal card details to anybody. Tear your credit card receipts. Try not to always carry your card with you. Report your card loss or theft to the bank immediately.
Obtaining good credit history is a gradual process. Starting from secured bad credit card and ending with good scores it is the result of smart financial behavior. Study carefully how to deal with credits and to avoid debt. Profound knowledge of credit reporting mechanisms will be of a great use. Apply for your card, become eligible and get approved!
Article Source: http://www.SubmitYourNewArticle.com
Azra Jansson is an expert in establishing a new credit. She writes about determining your credit eligibility. She gives advice on customer eligibility for getting a loan.
http://www.submityournewarticle.com/Article/Your-Credit-Eligibility-Is-a-Guarantee-of-Success/235371
Student Credit Cards Are the First Step to Establish Credit
At present, almost all people have credit cards. And students are not an exception. While some of them use plastics wisely and build a credit history, others get lots of debts. Students that have a plastic should know how to manage their finances as soon as possible, as the time between adolescent years and adulthood is very short. Thus, the sooner students begin to manage their financial matters, the sooner their financial skills will be developed.
These types of plastics help students to learn how to be responsible for handling money. More than that, student plastics are a way of teaching young people about debt. With the wise use students will be able to get more benefits from owning a student credit product.
But on the other hand, student plastics can cause a great amount of debt that may follow students even after their graduation from college or university.
It should be mentioned that credit card companies consider students to be one of the best customers. The first reason is loyalty. Once students get a plastic card, they are likely to keep this particular credit product for years, instead of obtaining a new plastic.
At present, more and more students may get a credit card even if they don't have a steady source of income. And this is one more reason why credit card companies provide students with more and more credit products. They usually can't pay off their debts on time. Moreover, credit companies rely on this fact. They can make lots of money by charging late payment penalties, annual fees and interest fees on unpaid credit balances. Thus, cardholders who can't repay their credit balances in full each month are desirable.
It should be mentioned that the most difficult thing for students is to make the right choice among the large number of student credit card offers. One of the possible ways for students to select the suitable plastic for themselves is to speak to other students who have already had credit cards and to get advice from them.
It goes without saying, that before choosing a plastic card, a student should compare credit card offers and be aware of credit cards' terms of use. Many students who own credit cards recommend the others a plastic with no annual fee and the option to limit the amount of money that can be spent.
Every student wants to have at least one plastic, as it can help him during college years. For instance, a student will be able to buy books or concert tickets, rent a car, etc. Aside from financial help, student credit cards provide young people with other types of assist by building a credit history. Credit history is the record of all things that happen in your financial situation. Credit rating is a system based on such factors as bill paying history, late payments, type and number of accounts, debts and others.
If credit history and score are good, a student will easily get a car or house loan, definite types of financial jobs and other benefits. So, to take advantage of these benefits, a student should pay his bills on time.
Plastics can be a valuable tool for a student. They provide young people with convenience and security, and at the same time they help students to build a good credit history that may be needed in the future.
Article Source: http://www.SubmitYourNewArticle.com
In her articles Rachael Wimbley puts emphasis to possible ways of taking advantage of online credit card applications and getting the right plastic card. Search for more information about points rewards cards on the website.
http://www.submityournewarticle.com/Article/Student-Credit-Cards-Are-the-First-Step-to-Establish-Credit/236239
These types of plastics help students to learn how to be responsible for handling money. More than that, student plastics are a way of teaching young people about debt. With the wise use students will be able to get more benefits from owning a student credit product.
But on the other hand, student plastics can cause a great amount of debt that may follow students even after their graduation from college or university.
It should be mentioned that credit card companies consider students to be one of the best customers. The first reason is loyalty. Once students get a plastic card, they are likely to keep this particular credit product for years, instead of obtaining a new plastic.
At present, more and more students may get a credit card even if they don't have a steady source of income. And this is one more reason why credit card companies provide students with more and more credit products. They usually can't pay off their debts on time. Moreover, credit companies rely on this fact. They can make lots of money by charging late payment penalties, annual fees and interest fees on unpaid credit balances. Thus, cardholders who can't repay their credit balances in full each month are desirable.
It should be mentioned that the most difficult thing for students is to make the right choice among the large number of student credit card offers. One of the possible ways for students to select the suitable plastic for themselves is to speak to other students who have already had credit cards and to get advice from them.
It goes without saying, that before choosing a plastic card, a student should compare credit card offers and be aware of credit cards' terms of use. Many students who own credit cards recommend the others a plastic with no annual fee and the option to limit the amount of money that can be spent.
Every student wants to have at least one plastic, as it can help him during college years. For instance, a student will be able to buy books or concert tickets, rent a car, etc. Aside from financial help, student credit cards provide young people with other types of assist by building a credit history. Credit history is the record of all things that happen in your financial situation. Credit rating is a system based on such factors as bill paying history, late payments, type and number of accounts, debts and others.
If credit history and score are good, a student will easily get a car or house loan, definite types of financial jobs and other benefits. So, to take advantage of these benefits, a student should pay his bills on time.
Plastics can be a valuable tool for a student. They provide young people with convenience and security, and at the same time they help students to build a good credit history that may be needed in the future.
Article Source: http://www.SubmitYourNewArticle.com
In her articles Rachael Wimbley puts emphasis to possible ways of taking advantage of online credit card applications and getting the right plastic card. Search for more information about points rewards cards on the website.
http://www.submityournewarticle.com/Article/Student-Credit-Cards-Are-the-First-Step-to-Establish-Credit/236239
Three Reasons To Check Your Credit Card
While there are some very organised people out there who open every piece of mail as soon as it arrives, and take the appropriate action straight away, many of us don't quite take the same approach. In our time-pressed lives, opening mail may not be a priority, and especially in the case of credit card statements which are usually easily recognisable from the envelope, they may sit unopened all through the month until the next one arrives. This, however, is not really a good way to deal with things, and here are three reasons why.
Credit cards are somewhat notorious for giving us the ability to run up debts without really realising what we're doing. Because it's so easy to spend when you're within your limit, there can be little to stop us from making impulse purchases or even using the card to pay essential bills from time to time. Opening your statement each month as soon as it arrives helps us to keep a realistic impression of how much we're spending. If you don't check your account very often, it's all too easy to receive a nasty surprise, with the debt being a lot larger than we anticipated.
The second reason that you should examine your statement each month is to detect any possible fraud before too much damage is done. We tend to think that if somehow our card details find their way into the hands of criminals, then the account will be cleaned out straight away. Not all fraudsters work in this way though, with more subtle attempts to 'fly under the radar' by only withdrawing small amounts. By doing this they are less likely to be detected, as the card issuers' monitoring systems might not spot the fraud as easily. By checking that you recognise each transaction on your statement, you stand a much better chance of minimising the damage caused identity theft and fraud.
Thirdly, your statement will include details of any charges or changes made by the credit card issuer that you might not have been aware of otherwise. For example, a change to your statement date may mean that your regular payment now misses the due date, leading to late payment fees. Or, a change to the minimum repayment may mean that you need to change the amount you automatically pay each month - only by checking your statement will these circumstances be made clear, especially considering the legalese used in the typical credit card terms and conditions leaflet!
So, even though dealing with regular mail such as credit card statements may seem like a chore, and something that we can neglect in favour of more interesting or important activities, reading your statement could actually end up saving you time and money, and it really only needs to take a few minutes a month!
Article Source: http://www.SubmitYourNewArticle.com
Michael writes for Card Sense UK where you can compare best buy credit cards, cards with cash back and rewards, and 0% credit cards along with reading credit card related information and articles.
http://www.submityournewarticle.com/Article/Three-Reasons-To-Check-Your-Credit-Card-Statement/240100
Credit cards are somewhat notorious for giving us the ability to run up debts without really realising what we're doing. Because it's so easy to spend when you're within your limit, there can be little to stop us from making impulse purchases or even using the card to pay essential bills from time to time. Opening your statement each month as soon as it arrives helps us to keep a realistic impression of how much we're spending. If you don't check your account very often, it's all too easy to receive a nasty surprise, with the debt being a lot larger than we anticipated.
The second reason that you should examine your statement each month is to detect any possible fraud before too much damage is done. We tend to think that if somehow our card details find their way into the hands of criminals, then the account will be cleaned out straight away. Not all fraudsters work in this way though, with more subtle attempts to 'fly under the radar' by only withdrawing small amounts. By doing this they are less likely to be detected, as the card issuers' monitoring systems might not spot the fraud as easily. By checking that you recognise each transaction on your statement, you stand a much better chance of minimising the damage caused identity theft and fraud.
Thirdly, your statement will include details of any charges or changes made by the credit card issuer that you might not have been aware of otherwise. For example, a change to your statement date may mean that your regular payment now misses the due date, leading to late payment fees. Or, a change to the minimum repayment may mean that you need to change the amount you automatically pay each month - only by checking your statement will these circumstances be made clear, especially considering the legalese used in the typical credit card terms and conditions leaflet!
So, even though dealing with regular mail such as credit card statements may seem like a chore, and something that we can neglect in favour of more interesting or important activities, reading your statement could actually end up saving you time and money, and it really only needs to take a few minutes a month!
Article Source: http://www.SubmitYourNewArticle.com
Michael writes for Card Sense UK where you can compare best buy credit cards, cards with cash back and rewards, and 0% credit cards along with reading credit card related information and articles.
http://www.submityournewarticle.com/Article/Three-Reasons-To-Check-Your-Credit-Card-Statement/240100
Tips on Eliminating Credit Card Debt
I read recently that the average family has at least $10,000 in consumer credit card debt. Being one of those 'average' families, I've been there, and know how difficult it can be to make any headway in getting out of debt. For many years now, credit card companies have been making it SO EASY for all of us to get into debt by offering credit cards to practically anyone regardless of creditworthiness or ability to pay. I have a family member who lives on a disability income of about $700 a month, and he carries a couple credit cards in his wallet! Easy credit has been one of the major factors behind the looming financial crisis we now face as a nation. While there is not a lot that we can do about the mortgage meltdown or collapse of the dollar, there are steps that we can take to get our own financial house in order, and one of those is eliminating credit card debt.
Growing up as a child, I recall that my parents owned neither a house or a car. While my father worked his entire life, he had a large family, and never seemed to be able to save enough money to buy a house. In those days, in order to be able to buy a house you had to be able to either pay cash, or put a very large down payment on it. There wasn't a whole lot of 'credit' available. People back then basically had to live within their means. Unfortunately, easy credit has enabled most of us to live well beyond our means. I once had a friend say to me, "Bill, you can afford anything you want, you just have to stretch the payments out longer". While exaggerating a bit, the truth is most of us live as if we can afford anything we want. In order to get our financial house in order, we first need to see where we stand.
I have an acquaintance who could not seem to make any headway financially. He was always complaining about his wife's spending habits saying that she was constantly spending, keeping them both in debt. I asked him if he had ever sat down with her and made a comparison of income versus expenses. After gazing at me for a few minutes with a blank expression on his face, he admitted that he had never done this. After much prodding, and a few arguments with his wife over money, he finally sat down with her to do an examination of their finances. To his surprise, he found that their fixed monthly bills were larger than their income! After several apologies to his wife, they agreed that they had to make some changes, and for them that was his wife getting a full time job, and cutting back on spending in a couple of areas. One of the first things you should do is take some time to do an evaluation of your finances to see exactly where you stand. Are you spending more than you are making? If the answer is yes, than you need to make some changes, specifically spending less and/or earning more.
Once you know where you stand financially, be determined to eliminate debt by using a systematic approach. Increasing your monthly payment will reduce your debt and pay it off faster because the extra amount goes to paying off the principle. Always try to pay more than the minimum payment. Credit card debt will come down much faster by making payments in large chucks as opposed to making the minimum payment. Be determined to increase the payment amount by again either reducing spending in other areas, or if necessary, increasing income. Even a part time income that allows you to make an extra $200 a month payment will reduce your debt much faster.
There are some specific strategies you can use to help eliminate credit card debt. First, make certain that you make all credit card payments on time. Having just one late payment on a credit card can make your interest rate jump 500%! How is this possible you ask? Say you're paying 4.99 percent interest on a credit card. Have a payment arrive late, and your rate can jump all the way up to 25%, or in some cases more! That's 5 times what you we're paying and that will make a huge difference in how much interest you pay. One of the best ways to make certain that you don't experience this shocker is to make your payments online. Making your payments online is usually done in real time, as opposed to putting your faith in snail mail. I once mailed a letter from a post office 2 miles from where the credit card office was located, and had a late payment because the letter arrived two weeks after it was mailed! Save yourself this potential headache by setting it up to make your payments online.
One tactic that credit card companies like to use is luring you in with 'teaser' rates. This is where you get a promotional rate for a specified period of time. While you can save money taking advantage of these rates, you have to make certain that it's worth your while to transfer balances from another card because of 'transaction' fees. With recent changes in the credit card industry, you can be assessed hefty amounts for transferring balances from one account to another. If you are going to transfer from an account with a high interest rate to one with a lower one, make certain that the promotional period lasts long enough to make it worthwhile. It should be for at least a year, and if possible longer. Again, remember that if you make a late payment your rate will shoot up to a much higher rate. Avoid late payments like the plague!
Another thing to watch out for is opening up too many accounts. If you are in the habit of constantly opening up new accounts to take advantage of promotional rates, be aware that this can impact your credit score by sending 'red flags' to credit agencies. You might be better served to find a credit card with a lower fixed rate that remains the same until the balance is paid off. While you may pay a bit more in interest this way, you won't be constantly paying transaction fees and possibly harming your credit score.
Another recommendation advocated by many financial 'experts' is to consolidate your balances into one account. This strategy has several advantages including some listed in the previous section, but also it is much easier to manage one payment than trying to make numerous payments to various credit card companies. You will not only find it easier to avoid late and missed payments, but you'll experience less stress making one payment as opposed to five or six spread out all over the place.
As we watch the upheaval in the financial markets, it's hard to say where it will all end, but the smart bet says that it won't be a good thing for most of us. Now more than ever, it's imperative that we get our own house in order by getting our spending and debt under control. Your financial health depends on it!
Article Source: http://www.SubmitYourNewArticle.com
Bill Thomas is actively engaged in Network Marketing. He also contributes articles on business, life and othe topics. His current website is..Create Income from Home With Your Own... Internet Home Business
http://www.submityournewarticle.com/Article/Tips-on-Eliminating-Credit-Card-Debt/240371
Growing up as a child, I recall that my parents owned neither a house or a car. While my father worked his entire life, he had a large family, and never seemed to be able to save enough money to buy a house. In those days, in order to be able to buy a house you had to be able to either pay cash, or put a very large down payment on it. There wasn't a whole lot of 'credit' available. People back then basically had to live within their means. Unfortunately, easy credit has enabled most of us to live well beyond our means. I once had a friend say to me, "Bill, you can afford anything you want, you just have to stretch the payments out longer". While exaggerating a bit, the truth is most of us live as if we can afford anything we want. In order to get our financial house in order, we first need to see where we stand.
I have an acquaintance who could not seem to make any headway financially. He was always complaining about his wife's spending habits saying that she was constantly spending, keeping them both in debt. I asked him if he had ever sat down with her and made a comparison of income versus expenses. After gazing at me for a few minutes with a blank expression on his face, he admitted that he had never done this. After much prodding, and a few arguments with his wife over money, he finally sat down with her to do an examination of their finances. To his surprise, he found that their fixed monthly bills were larger than their income! After several apologies to his wife, they agreed that they had to make some changes, and for them that was his wife getting a full time job, and cutting back on spending in a couple of areas. One of the first things you should do is take some time to do an evaluation of your finances to see exactly where you stand. Are you spending more than you are making? If the answer is yes, than you need to make some changes, specifically spending less and/or earning more.
Once you know where you stand financially, be determined to eliminate debt by using a systematic approach. Increasing your monthly payment will reduce your debt and pay it off faster because the extra amount goes to paying off the principle. Always try to pay more than the minimum payment. Credit card debt will come down much faster by making payments in large chucks as opposed to making the minimum payment. Be determined to increase the payment amount by again either reducing spending in other areas, or if necessary, increasing income. Even a part time income that allows you to make an extra $200 a month payment will reduce your debt much faster.
There are some specific strategies you can use to help eliminate credit card debt. First, make certain that you make all credit card payments on time. Having just one late payment on a credit card can make your interest rate jump 500%! How is this possible you ask? Say you're paying 4.99 percent interest on a credit card. Have a payment arrive late, and your rate can jump all the way up to 25%, or in some cases more! That's 5 times what you we're paying and that will make a huge difference in how much interest you pay. One of the best ways to make certain that you don't experience this shocker is to make your payments online. Making your payments online is usually done in real time, as opposed to putting your faith in snail mail. I once mailed a letter from a post office 2 miles from where the credit card office was located, and had a late payment because the letter arrived two weeks after it was mailed! Save yourself this potential headache by setting it up to make your payments online.
One tactic that credit card companies like to use is luring you in with 'teaser' rates. This is where you get a promotional rate for a specified period of time. While you can save money taking advantage of these rates, you have to make certain that it's worth your while to transfer balances from another card because of 'transaction' fees. With recent changes in the credit card industry, you can be assessed hefty amounts for transferring balances from one account to another. If you are going to transfer from an account with a high interest rate to one with a lower one, make certain that the promotional period lasts long enough to make it worthwhile. It should be for at least a year, and if possible longer. Again, remember that if you make a late payment your rate will shoot up to a much higher rate. Avoid late payments like the plague!
Another thing to watch out for is opening up too many accounts. If you are in the habit of constantly opening up new accounts to take advantage of promotional rates, be aware that this can impact your credit score by sending 'red flags' to credit agencies. You might be better served to find a credit card with a lower fixed rate that remains the same until the balance is paid off. While you may pay a bit more in interest this way, you won't be constantly paying transaction fees and possibly harming your credit score.
Another recommendation advocated by many financial 'experts' is to consolidate your balances into one account. This strategy has several advantages including some listed in the previous section, but also it is much easier to manage one payment than trying to make numerous payments to various credit card companies. You will not only find it easier to avoid late and missed payments, but you'll experience less stress making one payment as opposed to five or six spread out all over the place.
As we watch the upheaval in the financial markets, it's hard to say where it will all end, but the smart bet says that it won't be a good thing for most of us. Now more than ever, it's imperative that we get our own house in order by getting our spending and debt under control. Your financial health depends on it!
Article Source: http://www.SubmitYourNewArticle.com
Bill Thomas is actively engaged in Network Marketing. He also contributes articles on business, life and othe topics. His current website is..Create Income from Home With Your Own... Internet Home Business
http://www.submityournewarticle.com/Article/Tips-on-Eliminating-Credit-Card-Debt/240371
Eliminating Some Credit Card Risk for E-Business
Introduction
Credit card fraud is the biggest risk for the e-merchants. While all businesses accepting credit cards face this, the Internet merchant is even more exposed. Brick-and-mortar businesses can verify a signature to prove the authenticity of the payment, but there is no such protection for businesses on the Internet. Due to this increased risk, the credit card banks hold Internet merchants 100% liable for the losses and expenses incurred as a result of credit card fraud. The defrauded merchants not only suffer because of the loss of product or services, but they are expected to pay a charge to defray the expenses the bank incurred from dealing with the fraud.
The amount of money lost to online credit card fraud is staggering. One market report estimated that more than $230 million in losses were suffered by Internet businesses in 1999 as a result. (See http://www.verifyfraud.com/merchantsite/highercost.asp for more information.) In a Forbes magazine report, the estimate for 2000 was over $600 million.(See See http://www.forbes.com/2000/06/21/mu6.html for more information.). Another report states that in the UK, 9 out of 10 e-businesses were hit by online credit card fraud. Judging from these figures, estimates are that about $18 billion will be lost in 2002.
Internet businesses hardest hit by credit card fraud include computer suppliers (hardware and software), electronics, and music/game Web sites. This is primarily due to the products' popularity , the ease of resale, and the speed with which a criminal can dispose of them and turn a profit. With the increase in e-commerce business, it's certain that the amount of money lost to fraud will increase exponentially.
The main reason credit card fraud is so high for Internet businesses is due to the anonymity of the entire transaction. A "fraudster" makes purchases without presenting an actual credit card, signing a receipt, or being seen. Additionally, if physical goods are involved, the criminal will most often use a temporary address to receive shipment. These factors make it very difficult for a small- or medium-sized e-enterprise to track down even a fairly novice online culprit.
Proactive Solutions
While it is difficult to prevent credit card fraud, large e-commerce companies have begun to build systems that proactively check parameters entered on an order form while it's being processed. Many footprints of glaring information can identify a transaction as a fraudulent one. For example, a survey of more than 200 companies performed by the Saint Hamilton Group shows 163-plus companies reported seeing vulgar words entered as either a first name, a last name, or part of an address in an online order form. The same survey also reports that companies linked directly to their bank processors in realtime via the Web were most susceptible to online credit card fraud. Therefore, I decided to develop a solution that would cut down on such incidences and created a component called SC Profanity Check.
SC Profanity Check
SC Profanity Check is meant to check data form fields for profanity. If profanity is found, it notifies the end user that the system has detected a potential fraud. Note that such an approach often tells the culprit they've been detected, thus scaring the hacker into either aborting the transaction or submitting their real information. You can download the component here.
Credit card fraud is the biggest risk for the e-merchants. While all businesses accepting credit cards face this, the Internet merchant is even more exposed. Brick-and-mortar businesses can verify a signature to prove the authenticity of the payment, but there is no such protection for businesses on the Internet. Due to this increased risk, the credit card banks hold Internet merchants 100% liable for the losses and expenses incurred as a result of credit card fraud. The defrauded merchants not only suffer because of the loss of product or services, but they are expected to pay a charge to defray the expenses the bank incurred from dealing with the fraud.
The amount of money lost to online credit card fraud is staggering. One market report estimated that more than $230 million in losses were suffered by Internet businesses in 1999 as a result. (See http://www.verifyfraud.com/merchantsite/highercost.asp for more information.) In a Forbes magazine report, the estimate for 2000 was over $600 million.(See See http://www.forbes.com/2000/06/21/mu6.html for more information.). Another report states that in the UK, 9 out of 10 e-businesses were hit by online credit card fraud. Judging from these figures, estimates are that about $18 billion will be lost in 2002.
Internet businesses hardest hit by credit card fraud include computer suppliers (hardware and software), electronics, and music/game Web sites. This is primarily due to the products' popularity , the ease of resale, and the speed with which a criminal can dispose of them and turn a profit. With the increase in e-commerce business, it's certain that the amount of money lost to fraud will increase exponentially.
The main reason credit card fraud is so high for Internet businesses is due to the anonymity of the entire transaction. A "fraudster" makes purchases without presenting an actual credit card, signing a receipt, or being seen. Additionally, if physical goods are involved, the criminal will most often use a temporary address to receive shipment. These factors make it very difficult for a small- or medium-sized e-enterprise to track down even a fairly novice online culprit.
Proactive Solutions
While it is difficult to prevent credit card fraud, large e-commerce companies have begun to build systems that proactively check parameters entered on an order form while it's being processed. Many footprints of glaring information can identify a transaction as a fraudulent one. For example, a survey of more than 200 companies performed by the Saint Hamilton Group shows 163-plus companies reported seeing vulgar words entered as either a first name, a last name, or part of an address in an online order form. The same survey also reports that companies linked directly to their bank processors in realtime via the Web were most susceptible to online credit card fraud. Therefore, I decided to develop a solution that would cut down on such incidences and created a component called SC Profanity Check.
SC Profanity Check
SC Profanity Check is meant to check data form fields for profanity. If profanity is found, it notifies the end user that the system has detected a potential fraud. Note that such an approach often tells the culprit they've been detected, thus scaring the hacker into either aborting the transaction or submitting their real information. You can download the component here.
About the Author
Michael Chiam is the CEO of Saint Hamilton Group, a leading credit card fraud detection and risk-management company. He has been programming in C/C++ since 1993. His areas of expertise include Visual C++, C++, C, Java, Visual Basic, ASP, XML, SQL Server and other expert systems. He's an expert in credit card fraud detection and credit card processing systems. In his spare time, Michael Chiam is also a venture capitalist and angel investor. He can be reached at michaelchiam@sainthamilton.com.
Preventing Credit Card Fraud
Many people are wary about using their credit cards, especially online, because of the possibility of becoming a victim of fraud. While fraud does happen, and costs hundreds of millions every year, there are some simple steps you can take to protect yourself and make it unlikely that you'll become a victim.
- General
There are several other measures you can take to reduce the chances of becoming a victim of credit card fraud, and most them are pretty much common sense. You should sign any new or replacement cards as soon as you receive them, and cut up the expired cards making sure to cut through the magnetic band on the back.
Never keep your pin numbers written down in your wallet or purse, as if you lose it or it's stolen a fraudster will have both your cards and their pins. Also, report any stolen or lost cards to the issuer immediately, so that they can be cancelled before falling into the wrong hands.
Open your statements and bills as soon as you receive them, and check them carefully for anything you don't recognise. If you spot something you're unsure of, call your card company straight away and ask them for more details. After checking your statements, either file them away somewhere safe, or shred or burn them. Never simply throw them away - they contain far too much valuable information that can be used for fraud purposes.
- Online use
The most important rule to follow is to only use your card online at trusted, secure sites. You can recognize a secure site by looking for a yellow padlock symbol appearing in your browser, and also by the address starting with 'https' rather than 'http'. Sites secured like this encrypt all the information sent back and forth to your browser, meaning that it's very dificult indeed for someone to spy out your credit card details.
Also make sure you're confident of the identity of the site asking for your details. Avoid any sites that send you an email asking for your card details - they might not be who they claim to be. It's better to phone the company direct to make sure their request is genuine.
You should never give out your card details in an email, as there is no encryption involved and there's always the danger that a fraudster could intercept your message and gain your details.
Finally in this section, make sure that your virus protection is up to date and that your computer is clean of any 'spyware'.
- Offline use
If at all possible, don't let the card out of your sight when paying, to reduce the opportunity for a fraudster to make a copy of your card. This is easier nowadays with the arrival of the handheld chip and pin input devices that are brought, for example, to your table in a restaurant.
It's advisable not to send card details by fax, as you've no control over how long the fax will be left unattended at the receiving end. A faxed copy of your card number, expiry date, security code and signature makes it altogether to easy for a scammer!
Only give your credit card number over the telephone if it was you who made the call, and you're certain that you're speaking to a genuine person. If someone calls you claiming to be from a company you deal with, and asks for your details, ask for a phone number to call them back on - via a switchboard operator if possible - and verify that the number is correct.
All this might seem like a lot of work, but remember that with most credit card accounts you won't be held liable for any fraudulent use so long as the fraud hasn't happened through your own negligence. Following the steps above is very powerful evidence to the card issuer that you've done everything possible to protect your account's security, so if you're unfortunate to become a fraud victim then the financial damage to you will be kept as small as possible.
Originally submitted by: Michael D. Strauss
http://www.myfinancedirectory.com/article/Article/Preventing-Credit-Card-Fraud/766
- General
There are several other measures you can take to reduce the chances of becoming a victim of credit card fraud, and most them are pretty much common sense. You should sign any new or replacement cards as soon as you receive them, and cut up the expired cards making sure to cut through the magnetic band on the back.
Never keep your pin numbers written down in your wallet or purse, as if you lose it or it's stolen a fraudster will have both your cards and their pins. Also, report any stolen or lost cards to the issuer immediately, so that they can be cancelled before falling into the wrong hands.
Open your statements and bills as soon as you receive them, and check them carefully for anything you don't recognise. If you spot something you're unsure of, call your card company straight away and ask them for more details. After checking your statements, either file them away somewhere safe, or shred or burn them. Never simply throw them away - they contain far too much valuable information that can be used for fraud purposes.
- Online use
The most important rule to follow is to only use your card online at trusted, secure sites. You can recognize a secure site by looking for a yellow padlock symbol appearing in your browser, and also by the address starting with 'https' rather than 'http'. Sites secured like this encrypt all the information sent back and forth to your browser, meaning that it's very dificult indeed for someone to spy out your credit card details.
Also make sure you're confident of the identity of the site asking for your details. Avoid any sites that send you an email asking for your card details - they might not be who they claim to be. It's better to phone the company direct to make sure their request is genuine.
You should never give out your card details in an email, as there is no encryption involved and there's always the danger that a fraudster could intercept your message and gain your details.
Finally in this section, make sure that your virus protection is up to date and that your computer is clean of any 'spyware'.
- Offline use
If at all possible, don't let the card out of your sight when paying, to reduce the opportunity for a fraudster to make a copy of your card. This is easier nowadays with the arrival of the handheld chip and pin input devices that are brought, for example, to your table in a restaurant.
It's advisable not to send card details by fax, as you've no control over how long the fax will be left unattended at the receiving end. A faxed copy of your card number, expiry date, security code and signature makes it altogether to easy for a scammer!
Only give your credit card number over the telephone if it was you who made the call, and you're certain that you're speaking to a genuine person. If someone calls you claiming to be from a company you deal with, and asks for your details, ask for a phone number to call them back on - via a switchboard operator if possible - and verify that the number is correct.
All this might seem like a lot of work, but remember that with most credit card accounts you won't be held liable for any fraudulent use so long as the fraud hasn't happened through your own negligence. Following the steps above is very powerful evidence to the card issuer that you've done everything possible to protect your account's security, so if you're unfortunate to become a fraud victim then the financial damage to you will be kept as small as possible.
Originally submitted by: Michael D. Strauss
http://www.myfinancedirectory.com/article/Article/Preventing-Credit-Card-Fraud/766
Credit Card Debt
Credit cards seems to be really helpful when you are in emergency and do not have hard cash with you. However, most people do not use credit cards only during emergency, they use it to fulfill their desires which is the main cause that makes them fall into credit card debt. These times are very stressful and can cause serious financial problems.
Here we recommend you some useful tips to eliminate your credit card debt.
1) Create a Budget and stick to it: If it is very difficult for you to control your spending habit and to live in your budget. Therefore it is better for you to prepare a budget for yourself. Try to avoid extra expenditure and stick to your prepared budget. Don’t carry your credit card with you, if you can’t control your expenses.
2) Restrict yourself to One or Two Cards: Always try not to signup for more than two credit cards. At some super markets this technique might cause you some problem but after all, you will be able to save money.
3) Avoid using the available credit line fully: People think that credit card is a facility, yes to some extent it is correct but you must think that no one will give you this service without any advantage. They add interest and other fees in your account. So avoid using credit carda frequently. Use your credit cards economically and wisely.
4) Spend money within your means. This is easier said than done as we often use the credit cards to simply get some credit. And that credit is something we need as we don´t have the means available in any other way.
5) Try to pay more than minimum payment: To recover your credit card debt, try to pay as much as you can. Pay more than the minimum decided payment. In this way you will get rid of your credit card debt very soon. If you stretch the time limit to pay, then you have more interest to pay. By making some extra efforts it will be easier for you to repay the debt.
6) High interest debt should be paid first: We recommend you to pay the high interest debt first. It is better for you to manage all your money to pay high interest loans first and then move to other loans. If you are facing a problem with this option then we will advise you one more option. That is to pay off all of your smaller loans and and then come to larger ones.
7) How to manage money for repayment: If you can’t manage money, you can take a personal loan or a loan against your life insurance or loan for credit card consolidation. In this way you get a loan with much lower interest rate and a pay plan that often has a longer payback time.
8) Take advantage of the possibilities to get help. It is great to have a live person to talk to about this kind of problems. You can find them in your bank and there are also public officials to turn to. A search on the internet will help you find them.
With all these tips we are sure that you will soon get rid of your credit card debt.
Originally submitted by: Keith George
http://www.myfinancedirectory.com/article/Article/Credit-Card-Debt/582
Here we recommend you some useful tips to eliminate your credit card debt.
1) Create a Budget and stick to it: If it is very difficult for you to control your spending habit and to live in your budget. Therefore it is better for you to prepare a budget for yourself. Try to avoid extra expenditure and stick to your prepared budget. Don’t carry your credit card with you, if you can’t control your expenses.
2) Restrict yourself to One or Two Cards: Always try not to signup for more than two credit cards. At some super markets this technique might cause you some problem but after all, you will be able to save money.
3) Avoid using the available credit line fully: People think that credit card is a facility, yes to some extent it is correct but you must think that no one will give you this service without any advantage. They add interest and other fees in your account. So avoid using credit carda frequently. Use your credit cards economically and wisely.
4) Spend money within your means. This is easier said than done as we often use the credit cards to simply get some credit. And that credit is something we need as we don´t have the means available in any other way.
5) Try to pay more than minimum payment: To recover your credit card debt, try to pay as much as you can. Pay more than the minimum decided payment. In this way you will get rid of your credit card debt very soon. If you stretch the time limit to pay, then you have more interest to pay. By making some extra efforts it will be easier for you to repay the debt.
6) High interest debt should be paid first: We recommend you to pay the high interest debt first. It is better for you to manage all your money to pay high interest loans first and then move to other loans. If you are facing a problem with this option then we will advise you one more option. That is to pay off all of your smaller loans and and then come to larger ones.
7) How to manage money for repayment: If you can’t manage money, you can take a personal loan or a loan against your life insurance or loan for credit card consolidation. In this way you get a loan with much lower interest rate and a pay plan that often has a longer payback time.
8) Take advantage of the possibilities to get help. It is great to have a live person to talk to about this kind of problems. You can find them in your bank and there are also public officials to turn to. A search on the internet will help you find them.
With all these tips we are sure that you will soon get rid of your credit card debt.
Originally submitted by: Keith George
http://www.myfinancedirectory.com/article/Article/Credit-Card-Debt/582
Making Sense Out of A Student Credit Card
Being a student in college can be fun, especially if you have access to funds - without having to worry about always carrying cash with you. A student credit card can take care of many of those problems and provide you with a credit rating for later on, too. Here are a few things you need to know about how to select a student credit card that will be just right for you.
Two Kinds Of Cards
If you already have a credit rating, then you may be able to apply for a regular credit card. Otherwise, you will probably have to settle for a secured credit card. These kind of credit cards require a deposit of close to the amount of the credit limit on the card - and some even more. There is usually a higher rate of interest, an annual fee, and oftentimes there are other ones, too. You will probably want to stick with the major companies, though, since there are scams connected with this type of credit card.
Check The Interest Rate And Fees
Every credit card has an interest rate. It only applies however, after the introductory offer, and if you leave a balance on the credit card or pay late. Your introductory offer can be anywhere between three and fifteen months. Many student credit cards have fees attached, and there may be more than one.
The Rewards Offered
You can find different types of rewards with different companies that offer student credit cards. There is quite a variety of rewards that you can get, including CD's or DVD's, free movie rentals, discounts on clothes and books, and much more. If you want, some students cards are geared toward drivers and your points can be used toward the purchase of you next car - new or used.
Most student credit cards will give you one point for every dollar that is charged to the card. Some companies will give you different rates of credits for different types of purchases. This means that you may get one point for every dollar charged, but you also could get as much as five points toward the purchase of things related to the card.
Special Benefits For Good Grades
There are some student credit cards that give a whopping 2,000 points per semester if you maintain a B average or better. That adds up to 4,000 points a year, and that will definitely give you some buying power.
Student credit cards are also geared to help the student to be able to get good credit if they use the credit card wisely. This means that they may require you to read some material before they issue the credit card. The issuing company will also usually make online services available so that the credit card can be paid easily - and on time. Besides the above, at least one credit card will also give you 25 points each month that the payment is made on time. Before you actually sign-up, though, you will want to compare the various student credit card offers and this will enable you to get the best one for your needs.
Article Source: http://www.articlemonk.com
Joe Kenny writes for Card Guide, offering the latest information on credit cards, visit them today for the latest credit card articles.
Visit Today: www.cardguide.co.u
http://www.articlemonk.com/Article/Making-Sense-Out-of-A-Student-Credit-Card/1994
Two Kinds Of Cards
If you already have a credit rating, then you may be able to apply for a regular credit card. Otherwise, you will probably have to settle for a secured credit card. These kind of credit cards require a deposit of close to the amount of the credit limit on the card - and some even more. There is usually a higher rate of interest, an annual fee, and oftentimes there are other ones, too. You will probably want to stick with the major companies, though, since there are scams connected with this type of credit card.
Check The Interest Rate And Fees
Every credit card has an interest rate. It only applies however, after the introductory offer, and if you leave a balance on the credit card or pay late. Your introductory offer can be anywhere between three and fifteen months. Many student credit cards have fees attached, and there may be more than one.
The Rewards Offered
You can find different types of rewards with different companies that offer student credit cards. There is quite a variety of rewards that you can get, including CD's or DVD's, free movie rentals, discounts on clothes and books, and much more. If you want, some students cards are geared toward drivers and your points can be used toward the purchase of you next car - new or used.
Most student credit cards will give you one point for every dollar that is charged to the card. Some companies will give you different rates of credits for different types of purchases. This means that you may get one point for every dollar charged, but you also could get as much as five points toward the purchase of things related to the card.
Special Benefits For Good Grades
There are some student credit cards that give a whopping 2,000 points per semester if you maintain a B average or better. That adds up to 4,000 points a year, and that will definitely give you some buying power.
Student credit cards are also geared to help the student to be able to get good credit if they use the credit card wisely. This means that they may require you to read some material before they issue the credit card. The issuing company will also usually make online services available so that the credit card can be paid easily - and on time. Besides the above, at least one credit card will also give you 25 points each month that the payment is made on time. Before you actually sign-up, though, you will want to compare the various student credit card offers and this will enable you to get the best one for your needs.
Article Source: http://www.articlemonk.com
Joe Kenny writes for Card Guide, offering the latest information on credit cards, visit them today for the latest credit card articles.
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http://www.articlemonk.com/Article/Making-Sense-Out-of-A-Student-Credit-Card/1994
Accepting Credit Cards: Getting a Merchant Account
Today's Web developer needs to have a thorough knowledge of how to build commerce-enabled Web sites. One of the most mysterious areas, for clients and Web shops alike, is the process of setting up a Web-enabled credit card merchant account. The gold rush of e-commerce has spawned hordes of pick-and-shovel peddlers. If you search for information on credit cards, you'll find page after page of outfits, all offering to get your credit card scene together pronto and cheapo. All of them try to make the process of getting a merchant account sound extremely difficult and complicated (if you buy their product, of course, it becomes easy). I am sorry to say that not a few of these outfits are shaky, shady, or simply scams. What do you really need to get credit card transactions going on a site, and how do you find a reputable bank that's knowledgeable about the Internet?
I won't begin this article by expounding the virtues of credit cards, because that would sound too much like the blobs of Spam that appear in your mailbox every day. All I'll say is that the first sentence or two (and little more) of those Spamograms is usually correct - if you want to do business online, you do need to accept credit cards. Forget about "virtual cash" and "smart cards." Credit cards are here now, and are rapidly becoming the payment method of choice whenever possible. Most or all of the retail business transacted over the Web is done with credit cards.
You can also forget the scare stories you've heard about credit card security risks. The whole rigmarole about hackers sniffing packets and harvesting your credit card numbers made great press, and sold a tremendous number of magazines about a year ago, but it was mostly pretty far-fetched stuff, and it's old news now. If I really must debunk this bugaboo (my regular readers know how I hate debunking bugaboos), let's briefly revisit three facts:
1. Most credit card companies limit your liability in case of credit card theft to a small amount, perhaps $50 - 100, so that's the most at stake even in the worst-case scenario, which is that the first documented Internet credit card rip-off in history just happens to happen to you.
2. For obvious reasons, credit card numbers are much more likely to be stolen when you use your card in a restaurant or over the phone than when you use it over the Web.
3. By taking a few simple precautions, you, the Web site owner, can make it difficult enough to breach your security that it simply wouldn't be worth anyone's time to make the attempt. If somebody wants to run a credit card rip-off, there are far easier ways to do it than hacking into a site that has taken basic security precautions.
Having said all that, the fact remains that perceptions are often more important than facts, and the majority of people out there are probably still convinced that using credit cards over the Web is extremely risky. It's very important for you to make sure that your online sales system is as secure as practical, and to convince your site visitors of this fact.
http://wdvl.com/Internet/Commerce/MerchantAccounts/
I won't begin this article by expounding the virtues of credit cards, because that would sound too much like the blobs of Spam that appear in your mailbox every day. All I'll say is that the first sentence or two (and little more) of those Spamograms is usually correct - if you want to do business online, you do need to accept credit cards. Forget about "virtual cash" and "smart cards." Credit cards are here now, and are rapidly becoming the payment method of choice whenever possible. Most or all of the retail business transacted over the Web is done with credit cards.
You can also forget the scare stories you've heard about credit card security risks. The whole rigmarole about hackers sniffing packets and harvesting your credit card numbers made great press, and sold a tremendous number of magazines about a year ago, but it was mostly pretty far-fetched stuff, and it's old news now. If I really must debunk this bugaboo (my regular readers know how I hate debunking bugaboos), let's briefly revisit three facts:
1. Most credit card companies limit your liability in case of credit card theft to a small amount, perhaps $50 - 100, so that's the most at stake even in the worst-case scenario, which is that the first documented Internet credit card rip-off in history just happens to happen to you.
2. For obvious reasons, credit card numbers are much more likely to be stolen when you use your card in a restaurant or over the phone than when you use it over the Web.
3. By taking a few simple precautions, you, the Web site owner, can make it difficult enough to breach your security that it simply wouldn't be worth anyone's time to make the attempt. If somebody wants to run a credit card rip-off, there are far easier ways to do it than hacking into a site that has taken basic security precautions.
Having said all that, the fact remains that perceptions are often more important than facts, and the majority of people out there are probably still convinced that using credit cards over the Web is extremely risky. It's very important for you to make sure that your online sales system is as secure as practical, and to convince your site visitors of this fact.
http://wdvl.com/Internet/Commerce/MerchantAccounts/
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