• June 19, 2018 /  Credit Card
    19

    For a credit based economy like ours, credit cards are nothing short of a lifeline. After all, people do not mind buying in a “purchase today pay tomorrow” format. Credit cards give us a reason to smile but a reason to be sad too. If you use them judiciously, they can ease your liquidity burden a lot. On the other hand, if you use them carelessly, they can increase your revolving debts and throw you into a debt trap. Apart from using credit cards prudently, it is also important to choose them with care.

    Zero APR cards and balance transfer credit cards are often believed to be the best. They offer great introductory rates, minimum processing fee and surcharges, and levy lenient late fees if you make your payments late. Balance transfer credit cards allow you to shift all your outstanding balances from other card companies to the new company.

    Balance transfers can boost your morale a great deal. This is because they allow you to put all your separate loans into one loan. When the number of debts decreases, a person feels at greater ease. Also, most of the balance transfer credit cards offer an interest free period. If by some means, you can pay the amount within the specified period, the credit card companies do not charge you anything. This is not all; you get loyalty bonuses to retain their services too.

    In short, these are advertising techniques to draw the attention of consumers. However, they do not aim to fleece the consumer but help him in his tough financial hours. In general, your new credit card company will benefit you the most by helping you pay off high interest loans, rather than giving you the opportunity to take out new cash advances. Thus, one can conclude that those consumers who do not take cash loans from their cards are likely to benefit most from such cards.

    Credit card companies throw a lot of incentives at consumers to attract their attention. An introductory low rate is one such incentive. It allows a consumer to save money, as he does not need to pay the interest amount that he would otherwise have paid. If he can clear the principal balance on his purchases within the specified period of time (clearly mentioned in the introductory plan), the companies do not ask him for any extra amount.

    If one remembers the exact expiration dates of the introductory rates, he can keep jumping from one to another to make interest free purchases. A consumer can also choose to put the amount in his savings account and earn interest on the money. He can do a fair bit of saving this way if he pays attention to the introductory rates.

  • June 19, 2018 /  Credit Card
    4

    The credit card is really a fantastic concept. However if it is not used properly it can simply bring financial ruin. By not using it properly you could end up in the unpleasant situation of paying every month interest. The credit cards in our days can be very helpful accessories since you won’t need to deal any longer with cash. When utilized correctly they could supply you with a lot of excellent benefits such as air miles or credit toward future purchases.

    The most crucial element is to never think about the credit line of the credit card as extra cash which may be spent whenever you want on various stuff. Once you’ve acquired some thing make sure that every month you pay promptly the financial obligations. Also never get to many credit cards since when having a lot you’re tempted to acquire all kind of necessary and expensive things. Whenever you consider signing up for such electronic devices do not ever pick the firms which have substantial charge for late fees or charge membership fee. The main reason why is extremely important to use appropriately a credit card is really because you’ll never be in the tough situation of getting a bad credit. Any time reaching this particular stage there are numerous things that can be performed but the most effective is the process of repair bad credit. When making daily buys utilize cash or the debit card and not the credit card. This are some essential aspects that really have to be considered mainly because by using this electronic device for every day buys you can achieve the phase where you see it as a substitute for cash. This in many of the situations can lead to debt.

    When paying your monthly obligations don’t get into the habit of making just minimum payments. This will just increase the period of time to pay the debt. Also avoid using your credit card to get stuff that you can’t afford and don’t close up one without knowing how your credit will be influenced. If you will consider all of these factors you’ll definitely not finish up in the position in which you need to repair bad credit. Surely that the credit card in our days is a very useful accessory. However , you have to don’t forget that in order to take advantage of all of the benefits you need to use it in the most appropriate way.

    Find out how to get a good credit score by visiting this great website on repair bad credit.

  • June 12, 2018 /  Credit Card
    16

    What Is Phishing? All new technologies come with their drawbacks and it is no different with credit cards. One of these drawbacks goes by the name of Phishing. When a person uses a fraudulent email or online shopping site to get hold of information about your credit card or bank, it is called phishing.

    Phishing is easy which is why it is so popular with thieves. In the first instance, it begins with a cleverly phrased email that seems to come from your credit card company or your bank. It usually asks you to provide confidential details for verification. It may also threaten to close your account unless you give the necessary information. Another popular method is to set up fake shopping websites that only accept online credit card payment. You will never get the goods that were displayed. If you comply in either instance, you will end up with a highly inflated credit card bill and a sadly depleted bank account statement.

    How To Protect Yourself From Phishing?

    The best way to protect your credit card from phishing is to reveal information only after cross checking. Often, all you need to do is contact the concerned bank or company and confirm the email. A detailed scrutiny of the email before dashing off a reply also helps. Such emails usually do not have a salutation like ‘Dear Customer.’ The name of your Credit Card Company or bank will also be spelt incorrectly. Since anti-phishing scanners search text messages, phishers may enclose the message as an image. If your credit card requests are contained in an image, be doubtful.

    In case of online shopping sites, beat the tricksters at their own game. For a first time purchase, use a credit card that is about to expire and has minimum credit. If the purchased item does not land at your doorstep within the promised time, at least your losses will be limited and you can be sure that the information cannot be used to perpetuate a bigger fraud.

  • June 5, 2018 /  Credit Card
    12

    We are living in a highly developed society that is completely based on high-end technology and in every field we can experience the contribution made by the latest technology. It has made our life simple, easier and convenient in various aspects and we have experienced the major transformation it has made in our life. One of the best results of this technological development is the credit card that is used for payment of almost every transaction we make. A credit card payment system is much safer and easier than the traditional method of cash payment. Credit card and wireless credit card terminals have changed the method of online and offline shopping.

    A credit card swipe terminal is essential for a shopkeeper, who wants to accept credit cards in their shops. Traditionally this terminal has a magnetic strip reader, a display and a keypad. Sometimes a printer is also attached. The latest version of the credit card terminal is a wireless credit card terminal, which is most suitable for restaurants and cab firms. Wireless credit card terminals allow a person to process credit cards electronically anywhere and it allows business to process transactions from mobile locations efficiently and quickly. This terminal is mostly used by businesses that mainly operate in a mobile environment. For mobile business it is the easiest way to conduct transactions for their business.

    The working process of the wireless credit card terminal is same as the traditional credit card machine, except that the transaction in the wireless terminal occurs over wireless networks instead of phone lines. The wireless credit card terminal is the most advanced processing terminal and it still incorporates time tested technology to ensure their durability and reliability. Presently some terminals operate on GPRS wireless network giving complete advantage in wireless availability over any other wireless terminals. These terminals are the most cost effective method for wireless credit card processing.

    Wireless terminals do not have any wires connected to them hence it can be moved to any place and this is the biggest advantage with the wireless credit card terminal. Moreover these terminals are small, lightweight, portable, and hence it could be easily carried inside a pocket to any place. It can accept the card virtually at any place. These terminals do not require any separate phone lines. Wireless technology is quite safe and secured and it also reduces the chance of fraud or stolen cards. It also eliminates the involvement of hard cash in the transaction thus reducing the chance of error in calculation.

  • May 27, 2018 /  Credit Card
    1

    The offers to make money as you spend money are quite enticing to the modern consumer. With a cash back credit card, you can earn percentages that can reap rewards at the end of the year. So to choose the best cash back credit card for you, here are some questions that you will want to ask.

    1. What counts toward the cash back?

    While it might seem that any purchase or addition to the overall cash back credit card balance would reap rewards, this is not generally the case. Many times, balance transfers and cash advances do not contribute to the percentage back. If you think that you will be using the cash back credit card for those purposes, youll want to see if you will be rewarded or not.

    2. How much cash back are you receiving?

    Of course, if youre looking for a cash back credit card, youll want to choose the one with the highest amount of percentage that you can get back. And the cards vary widely in this respect. Look at several cash back credit card companies to see if one seems particularly high.

    3. Can you increase your cash back?

    Besides increasing the overall balance and contributing to the cash back, some cash back credit card companies also encourage customers to frequent certain retailers to get a larger cash back amount. If you already go to these establishments, these cash back credit card companies might work out better for you.

    4. How can you redeem the cash back?

    When youre using a cash back credit card, you want to be able to get your rewards as frequently as possible. There used to be a time when you had to wait until the end of a twelve month cycle to receive the benefits, but it has changed. Some companies are now allowing customers to redeem their cash back as payments against their balance or to contribute to a charity as frequently as certain amounts are accrued.

    5. What are the fees?

    As with all credit cards, youll want to be sure that the cash back credit card you sign up for doesnt charge a large fee that actually upsets any rewards that you might be receiving. Try to find a cash back credit card that doesnt make you pay for your cash back.

    With a cash back credit card, you can earn a little money as you spend for things that you already need.

  • May 24, 2018 /  Credit Card
    9

    We’ve all had our slumps. Maybe you’ve experienced this scenario before…

    It’s been a long couple weeks. Your problems started with your existing merchants, from terminal issues to merchants who simply want to take their business elsewhere. These problems cut into the time you had to go out and sell your credit card processing services. But you did your best, going out on sales calls and trying to sign new merchants.

    However, your results weren’t exactly stellar. Not one merchant signed! This news, combined with your other problems, pushes you further down into your slump. In fact, you’ve been thrown out of more merchants’ offices in the last few weeks than at any other time in your career. Clearly you’re doing something wrong. You’ve lost your sales mojo. Your credit card processing company is in real trouble. There has to be something you can do to get out of this slump.

    Sound familiar? Whenever you find yourself in a slump, it’s important to remember than no matter how bad it gets, it’s probably not your fault. There are a lot of factors outside of your control, and you can’t make a merchant sign with you. You can only control what you do and do your best. The actions of others are out of your hands.

    In the high-pressure game of trying to sell your credit card processing services, it can be easy to forget this. But if you do, you’re setting yourself up for unnecessary pain. Measuring your success solely based on how many merchants you sign ties your confidence and happiness to something you really can’t control.

    The solution? Evaluate your success not on whether merchants sign, but on your own actions. If you do the right things, success will come eventually. Focus on the process, not on the results. Try this approach:

    1. Only track your actions. Track what you say and how you say it.

    2. Make sure you’re using a sales process or strategy that has worked for you in the past, or that has worked for others.

    3. Record the number of potential clients you talk to, not the number that sign with you.

    4. Track firm decisions only. A “Yes” or a “No” is something you can learn from. A “Maybe” or a “Let me get back to you” is not.

    5. Let your only goal be to reach a number of decisions during a certain time period. Then book enough time to get those decisions.

    6. It’s important to support your existing merchants in order to retain them, but your credit card processing company’s future also hinges on your ability to sign new merchants. Make sure you have enough time on your schedule for sales.

    This approach may not help you sign merchants right and left. But it will prevent slumps from being so discouraging. Focus on the things you can control–your actions–and you’ll be satisfied no matter what happens. The success will come in due time.

  • May 21, 2018 /  Credit Card
    8

    Aren’t you sick and tired of hearing how “bad” credit cards are and that we should all just cut them up and start living on cash again. Although this sounds nice in some ways, the reality is that we live in a consumer society and credit cards have become a major part of life. The problem is when people don’t know how to use credit cards. Credit card debt is no joke and it can suck you in like quick sand. You can blame credit card companies all you want but in the end its your responsibility to be smart with your money and your cards.

    Credit cards do have a positive role to play in personal finance. If you are smart with it, it can help you better manage and spend your money and it can give you the financial leverage when you need it most. Here are 3 smart uses for credit.

    1. Emergencies

    I do not recommend or encourage anyone to live on credit. its a recipe for disaster. Instead, the best way to use your credit cards is to use it as backup. We all have financial disasters that usually hit at the most inconvenient times. If you don’t have life savings to fall back on then it can really hit you hard. Having a card as a backup can really be a lifesaver and at a fee of about $50 a year, it’s well worth the security that it provides in case you need it.

    2. Controlling Your Spending

    One of the reasons why so many people fall deeper and deeper into debt is because they get caught with their pants down – so to speak. They spend and spend and then fail to make the minimum payments. When interest starts kicking in, its usually already too late and you start sinking. The smart way to use your card however is to pay it off in full every month. Its a great way to control your spending and to now exactly how much you are spending on what. It works really well if you dedicate specific expenses to a specific card – like your groceries. However, the secret is to pay it off in full every month.

    3. Large Purchases

    One of the reasons why businesses like to use credit cards is because it allows you to conveniently make large purchases – even on the internet. We can all get cards with relatively high credit limits and if you have to make large purchases for say a building project or if you buy a lot of stuff online, then its ideal. Once again, the secret is to clear this debt each and every month. On large purchases, the interest can be just as large so make sure you wipe the slate clean every month.

  • May 16, 2018 /  Credit Card
    4

    When a person possesses a multitude of credit card accounts, it is easy for the debt to become quite overwhelming.

    The sum of the payments on all of the credit cards can add up to be a large percentage of the persons monthly expenditures. Due to this type of situation, a person may feel like he or she is losing control of their financial situation.

    When this happens, a person may choose to consolidate credit debt. When a person makes a choice to consolidate credit card debt, he or she will need to contact a non-profit service that will assist them. It is important that the consumer makes sure that any credit card consolidation service is a reputable business that will actually help them.

    This can be accomplished by checking with the Better Business Bureau to find out the history of the company.

    Counselors at these non-profit services can help the consumer by making a current list of creditors and the amount of debt owed each one. Then, the credit counselor will come up with a plan to propose to the creditors.

    The consumer benefits by being able to consolidate credit debt. In other words, as a part of this type of plan, the consumer will end up making one single payment, instead of many different payments. In addition, the consumers overall debt responsibility should be reduced.

    Credit consolidation counselors work with creditors to consolidate credit debt by proposing a reduction in or elimination of interest, and a lower monthly payment.

    This allows the consumer to make headway with his or her debt and eventually pay it off. Credit consolidation counselors perform a great service to the debtor and the creditor in that they allow the consumer to repay his or her debt, and allow the creditor to recover a big portion of the debt that was originally incurred.

    All in all, if a consumers debt has become unmanageable, a responsible choice is to sign up with a credit consolidation service in order to regain control of his or her financial situation. Doing nothing will not solve the problem, and in all likelihood, will just make it worse.

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  • May 9, 2018 /  Credit Card
    20

    Three words and phrases consumers dread the most, credit card debt. Put them together and you have the blueprint for a life span of challenge, tension and aggravation. Why can it be that 3 little words can put a lot worry into the spirits of the average consumer?

    Lets check out credit card debt individually, credit by itself sounds good however too much credit is the main reason why numerous Americans are over extended, discouraged and stressed out. Credit cards are pieces of plastic material that are smooth, accessible, and easy to carry around. Most of the people have two or more cards in their pocket book adding to their situation. n.

    Debt just isn’t a good thing to take around. For those who combine the 3 you get credit card debt. Mix them alongside one another with excessive joblessness, high cost of gasoline, food items plus essentials and you can start to comprehend why credit card debt is affecting so many Americans. It’s easy to see why credit card corporations are foaming at the mouth area for a chance to give you credit cards. Credit cards by design and style are meant to be a effortless way to expend more revenue then you have got.

    What is the solution to this dilemma? Excellent question, this is my individual suggestions to eliminate credit card debt: 1st, you need to teach yourself on the what your credit cards are really charging you. 2nd, buy only what you NEED not what you want. This is a lot easier said then carried out, even so if you can attain this you are 50% of the way. Three, really do not treat credit cards as a totally free loan. For the final two tips I highly recommend you use only one credit card and chop up the rest, and you simply use funds if feasible.

    In your thoughts you would like to make the phrase credit card debt useless. By coaching yourself on the true cost of credit cards you will ultimately increase your standard of living. If the notion of credit card debt is badly affecting your life look for help. Let’s Forget Debt is a nice informational web-site to get information, ebooks and free assistance.

  • May 8, 2018 /  Credit Card
    14

    Many banks offer optional credit card insurance, also known as credit card protection plans or balance protection plans. These plans offer debt protection in the event of the cardholder being unable to settle the outstanding balance. This may be as a result of death, disability or critical illness, or retrenchment.

    Credit card protection plans are affordable and simple to secure, and as a credit card holder, its worth exploring this type of insurance to determine whether its worth having.

    Learn more about balance protection plans below, or, if youre not yet a cardholder, explore the range of credit card options available to you.

    How balance protection plans work
    Just like any other type of insurance, credit card insurance covers the policyholder in the event of the unforeseen. Every time you use your credit card, youre accumulating debt. If something were to happen to you that made it impossible for you to cover that debt, how would the bank recover its money? Thats where a balance protection plan comes in.

    If you have a balance protection plan in place, your credit card debt will be covered up to a set limit in some cases, as much as R150,000 per account. This amount varies from lender to lender, and may also depend upon the type of credit card you have. During a very difficult time, the burden of paying your credit card balance will be lifted from your or your familys shoulders.

    How credit card protection plans pay out
    Credit card protection plans insure your outstanding balance against death, disability, critical illness and retrenchment. In the case of death, a lump sum is usually paid out to cover the outstanding amount, up until the limit set by your lender again, R150,000 for example. The same applies for critical illness. If a cardholder is diagnosed with a critical disease (as defined by his or her credit card protection policy), the outstanding balance will be settled, up until the maximum amount specified by the policy.

    In the event of disability, which renders the cardholder unable to earn a regular income for more than 30 days, the policy will generally pay out in instalments over a period of time for example, equal monthly instalments over 6 months. If the cardholder is retrenched, the policy will also usually pay out in monthly instalments. In the latter instance, these instalments will not generally cover the entire outstanding balance, but a portion thereof.

    The specific amount of insurance provided by your policy will depend on your insurers terms. Be sure to discuss these terms with your insurer or lender.

    Applying for a credit card protection plan
    When you apply for a credit card, you may be asked whether youd like to take out a balance protection policy. If not, broach the subject with your lender. You can also apply for credit card protection plans online or at a bank branch.