Cristmas, month after

Credit cards and Christmas

So what are you to do when your liquid cash refuses to flow beyond its financial frontiers? Take heart and donт•—t worry because now is the time to review and obtain good credit card deals.

The media, be it the internet, television, radio, newspaper or magazine, have a surfeit of advertisements offering various kinds of credit card deals. Many of these credit card deals come with either 0% APR which can last from any period between six to fifteen months or a higher lifetime APR (for example 4.9%). More often than not, credit card issuers rely on their potential customersт•— lack of awareness in reviewing all the credit card options available on the market. So, if you are not already on a 0% APR or a higher lifetime APR credit card deal, and you want to obtain, say, a credit card for the first time or wish to transfer an outstanding balance from your current credit card, then it would be prudent to shop around first before deciding on a credit card deal.

So, with Christmas round the corner, it would be wise for the Father Christmas in you to hunt for that 0% APR credit card deal where you do not have to pay any interest during the currency of that credit card deal. All payments made by you during this period will go to the reducing of your outstanding balance. But if you want to transfer the outstanding balance from your current credit card to a new credit card offering the 0% APR deal, do remember you will be charged a balance transfer fee which will be typically between 2% and 3% of the amount transferred. But if by the end of the 0% APR credit card deal you have not managed to clear the outstanding balance transferred and now wish to transfer the remaining balance to a new 0% credit card deal, then it is likely you will incur yet another balance transfer fee.

Alternatively, you could think of considering the lifetime APR credit card deal on balance transfers. Although you will have to pay a higher APR, this very APR will remain the same percentage throughout the life of the balance transfer i.e. until the amount has been repaid in full. You will also be charged a balance transfer fee which is usually between 2% to 3% of the amount transferred. The good news is that, unlike the 0% APR credit card deal, you will not incur any more balance transfer fee after this transfer.

So now you can go ahead and be Father Christmas by spreading the good cheer around! A big Ho-Ho-Ho to you and Merry Christmas!

Identity Fraud

Credit Card Identity Fraud

This type of fraud occurs when a fraudster has an easy access to your bank details either through your credit card statements or utility bills and craftily uses this information to make an application for a credit card in your name. Once the application has been approved, the fraudster is then able to purchase goods and services in your name. Sounds ghastly, doesn't it? But the ugly truth is that you then become the unfortunate victim of identity fraud. So how can one protect himself or herself from becoming a victim? Here are a few possible ways to ensure that this unfortunate event never happens to you:

First and foremost, remember to shred all official documents that you no longer need to keep in your possession. If you were to simply scrunch up your official document into a ball and then bin it, the fraudster is likely to scavenge your bin, smooth out the creased document and hey presto, all your personal details has, like magic, slipped into his hands! Shredding is a good way of avoiding such a terrible occurrence from happening.

Always remember to check your credit card statements every month so as to ensure no unauthorised transactions have taken place in your name. If you see a suspicious looking transaction recorded in your statement, report this fact immediately to your credit card provider and to the police.

Get the most recent copy of your credit card report and check if there has been any credit search against your name. This will give you a vital clue if anyone has made an application for a credit card in your name. If you find this to be the case, report the matter to the credit card provider immediately. When you move house, remember to inform all official bodies that you no longer reside at your old address. You could also contact Royal Mail for details of their re-direction service.

And lastly, never, ever, reveal your PIN to anyone. And don't make the mistake of writing it down because if others, whether they are known or unknown, get to read it, they will have an easy access to your bank account. Memorize it instead. Do keep in mind, that the chip and PIN method is an excellent anti-fraud measure to keep potential fraudsters at bay. Without your PIN, the fraudster will be unable to purchase goods and services at retail outlets or withdraw your cash from the ATM.

Credit Card Counseling

Credit Counseling Options

So what is credit counseling or credit counselling?

It's a debt help process offering education to consumers about how to avoid incurring debts that cannot be repaid. The process is actually more debt counseling than a function of how to handle your credit more effectively or efficiently.

In the UK there is a regulatory body for these services called the CCCS or Consumer Credit Counselling Service. The CCCS is a charity, so you won't pay a penny for any of their services - whether you need immediate debt advice tailored to your situation or more general budgeting advice.

So what options are available in credit counselling?

The following options are justa few options available and are typically for debts over 15,000. However a credit counsellor will be able to help even if you debts are lower than 15,000 and may even suggest a DMP for this purpose.

Debt Management Plan (DMP)

Credit counseling often involves negotiating with creditors to establish a debt management plan (DMP) for a consumer. A DMP may help the debtor repay his or her debt by working out a repayment plan with the creditor. DMPs, set up by credit counselors, usually offer reduced payments, fees and interest rates to the client. Credit counselors refer to the terms dictated by the creditors to determine payments or interest reductions offered to consumers in a debt management plan.

Individual Voluntary Arrangement (IVA)

An IVA is a formal and legal agreement, and is designed to help those who have high levels of debt - that is, those with a large amount of debt that cannot feasibly keep up repayments based upon their income - to benefit from lower monthly repayments and the opportunity to free themselves from debt in a far shorter period than they would otherwise be able to. With an IVA, the idea is that you reach an arrangement with all of your creditors with regards to how much you can afford to repay each month based on your income and outgoings. You then pay the agreed amounts to each creditor for a period of five years, after which the remainder of the debt is written off. The amount of the total debt written off can be as high as 75% depending on circumstances.

Conclusion

An IVA or DMP are just a few of main options offered by a credit counsellor. In extreme situations a bankruptcy may be suggested but this would only be in the most extreme of cases.

Credit counselling is certainly something you should consider, especially if you are already struggling to keep up with repayments on existing debts. Credit counseling will certainly give you peace of mind and the sooner you act the sooner you can start living a debt free, and stress free, life.

Loan Debt Problems

Credit Card Debt Problems

It is not uncommon for people these day in age to have money problems, or more to the point, debt problems. Or if you want to go even more specific, in this day and age, it's not ratified to find that many people have credit card debt problems. This seems to be the up-to-date madness of the one hundred you get a remark card, you buy, buy, buy; then you pay up up off only the unfinished minimum on your credit card describe statement at the end of the month, and repeat the process all over again.

Which, if you will but take a step back and look at it logically, is only release to lead to disaster upon disaster occurrence to poor you who is unable to pay up off your credit card, and which will ultimately, lead you to have credit card debt problems.

This unfortunately, is the type of life we lead these days, and something that we just can't seem to get out of. Most of us spend more per calendar month than we have available to us, and then try to fight and keep up with payments to pay off the excesses of last month.

credit card debt problems are very leisurely to fall into, and many of us do this virtually without thought about it. We go out, we see something we want, and hey presto! because of our credit card being with us at all times, we are able to give in to our desires and purchase what we want, when we want, without a thought to the consequences.

The jest to getting out of all your mention card problems and staying out of them, is to first realize where you are expiration wrong. Once you have pinpointed the fact that you are genuinely spending more than you earn, or more than you can give to serve up out for a month, you can then go about trying to set things to right direction. And the best way to do this, is to start by leaving your credit cards at home; or, if you find that this is a problem for you, then have your credit boundary capped.

This is the only way to get out of any existing advert card debt problems which you might have leave the cards at home or ceiling your bound until you can yield off that debt you have accumulated. In this way, you will be able to decrease your existing credit card debt problems without adding to them! And once you have realized this, you can then set about making sure that you don't do the same thing again by going away your credit cards at home.

Find what you were looking at for? I trust this article provided good information. If not, have a look at this blog. You will find tons more information there.

Perfidious Traps of Credit Cards

Avoiding credit card Traps

The next time you open your credit card statement, take a closer look at the small insert titled changes to your credit card agreement. You know the one I'm speaking about. It's that small, folded paper written in legalese that you promise to read some other time (but of course that time never comes) or you just discard it with the other junk inserts.

First and foremost you must understand that using your credit card after you've received this notification results in your automatic agreement to the new terms in the notice. To prevent these new terms from affecting your account you must stop using that credit card immediately or by the date given in the notification statement.

The most common modifications to credit card agreements include new APR's (annual percentage rates), new fees and/or changes to existing fees, or a change to the grace period on your account. The grace period is the number of days during which any credit used for purchases may be repaid in full without incurring a finance charge.

Not knowing or not keeping track of the dollar amount limit on your card is another trap you should avoid. credit card issuers will allow you to charge a small amount over the limit set on your account. However, don't be surprised when you get hit with an over limit fee, usually around $35.00 or higher, on your next statement. Also, be prepared for your APR to be increased if you go over your credit limit.

You'll also trigger an increase to your interest rate if you miss your payment due date. Some companies consider your payment late if not received by noon or 1 p.m. on the date due. Along with the higher rate, you'll also pay a late fee of $29 on up. Be sure to use the company's preprinted envelope when sending your payment. These envelopes allow the pre-printed bar code to be scanned by the post office so that it can be delivered more efficiently.

If you've counted on those few extra days from the time you mail your check and the time the check clears your bank, beware! Many credit card issuers have switched from the traditional method of processing checks to a new electronic process. This new system shaves off a day or more from the traditional method it normally takes for your check to clear by electronically debiting your account.

If you're considering paying your credit card bills online, check to see if any additional fees will be charged for using this type of payment. I recently received an e-mail message from one of my credit card companies announcing how easy it would be to make my payments online. Included in fine print at the bottom of the e-mail was this note - fee of up to $14.95 may be charged for this service and will be deducted from your checking account. Hmmm, spend 37 cents on postage and mail my payment five days before the due date or pay now and get charged an additional $14.95 fee? I'll bet you can guess which choice I made.

Taking the time to carefully read and understand your credit card agreement now will help you save money by avoiding unnecessary fees or climbing interest rates later down the road.

Credit and Credit Score

Using Credit To Build Credit Scores

Many experts agree that restoring credit scores often depends on how wisely you use credit after a financial bump in the road. Obtaining credit when one has damaged credit is not as difficult as one might think. There are many unsecured and secured credit card offers that are designed specifically to help you restore your FICO score to excellent levels. If you have damaged credit, I strongly urge you to investigate offers of credit that are specifically designed to build credit scores. But, be forewarned, you must use the cards wisely or they will have the opposite effect, one other than intended.

What follows are some important tips for using credit cards wisely. The advice below is aimed at those working to rebuild credit but it is good advice for anyone.

• Try not to carry a balance on the card. Pay what you owe promptly and pay all of what you owe if you can. If you must carry a balance, pay more than the required minimum payment. This will help you avoid high interest charges and, over the long haul, will save you hundreds and perhaps thousands of dollars.
• Do not use your credit cards without keeping accurate records of your spending. Keep your receipts, write down your card use as you use the card in a place certain (I use my date book for this purpose). You should always know what you have charged and when any given transaction took place. Aside from helping to control spending this simple technique will help you avoid identity theft.
• Never use your credit card for consumable items. Don't buy groceries, gas, medicine, and so on. If you don't want to carry cash, use your debit card for these purchases. My rule of thumb is if the purchase has no lasting value to me or to my family I pay in cash or with a cash equivalent (debit cards or checks). Of course, don't forget to keep track of these transactions as well.
• Do not be afraid to switch cards in order to reduce your interest rate, avoid annual fees, or two-cycle billing. While you are in the process of rebuilding credit this will not be a serious option, however, once your FICO score increases to something over 650 the possibilities of obtaining new credit may prove to be advantageous to you.
• There is probably no good reason to carry more than two credit cards for personal use. If you have more than two keep the two with the lowest interest rate and cancel all others. If you need more than two cards you are probably not managing your credit purchases well.

credit card abuse begins with not having a clear picture of how much you are spending and how you are using credit. Following these few simple tips will help you gain control of your credit card spending, help increase your credit score and help you to build a bridge to your secure financial future.

Card Debt Relief

Secured credit cards For Rebuilding Credit

Secured credit cards are designed to assist people who have never had credit or those who have bad credit, in order to enable them to establish a good credit rating. Secured credit cards are special type of credit cards in which you must first put down a deposit between 100% and 150% of the total amount of credit you desire. Secured credit cards are generally used to help people raise their FICO scores, or the line of credit that companies are typically offering them. Secured credit cards are secure for both the lender and the borrower.

Some people are hesitant to apply for a Secured business credit card, thinking that in doing so, they are posing themselves as high risk borrowers. Secured credit cards can be used as a stepping stone to a regular, unsecured credit card. Secured business credit card cards are not just limited for those who have bad credit history. secured credit cards are good for those who are discharged bankrupts or for those who want to control their spending a little more carefully. With a secured credit card, your credit limit matches the security deposit you provide. With good payments you can be considered for unsecured credit card offers.

Even better, you don't have to worry about slipping into credit card debt, because of the security deposit. Since you aren't borrowing any money, you can't get into debt. If you default, the lender will use the amount in the security account to pay off the debt and this can result in more damage to your credit rating. Whenever you can make more than the minimum payment, this helps you to avoid extra interest charges that will prolong your indebtedness. Unfortunately, some people are not aware of how long it can take to repay a debt when only paying the minimum each month.

With a secured credit card, you may have to pay a higher than average interest rate, however, this does not mean that the interest charge is outlandish. The best secured credit cards tend to have interest rates that are comparable to many unsecured credit cards. Interest rates can vary considerably from card to card, and the interest rate on a particular card may jump dramatically if the card user is late with a payment on that card or any other credit instrument, or even if the issuing bank decides to raise its revenue. Interest rates for attractive secured cards should not exceed 19%.

When you go in for secured credit cards, you are required to provide a security deposit as a guarantee of payment. A deposit is required before secured credit card providers will issue you a card. This deposit is held in a special savings account. The cash deposit you make will become the credit line for that account. For example, you would deposit an amount into a bank, or with a credit card company, (this can sometimes be as low as $100), and then the amount that you deposited would be your credit limit on the credit card. In addition to putting up a deposit against the credit limit on your credit card, you can also expect to pay a yearly service fee.

By making consistent payments on the card you show the credit card company that you are capable of paying your bills on time. The . cardholder should ensure that the creditor regularly informs credit-reporting agencies of their payment history. Some financial institutions can arrange for automatic payments to be deducted from the user's bank accounts.

Even if you're currently in credit card debt, secured credit cards can help prove you're changing your spending habits and are serious about being a financially responsible person.

Credit Card Processor for Small Business

Select A Credit Card Processor For Your Business

A competitive credit card processor can save thousands of business. While it may be convenient to let your bank handle the processing credit cards, you may be able to save more using another provider. However, fees shouldn't be the only factor taken into consideration while selecting a credit card processor, since terms are often open to negotiation.

Usually, a basic rate of 2% per bill is considered good for fees. However, comparing prices seem intimidating as there is no single resource. The fee structures are generally difficult for the common man to understand and contracts might contain language that is often confusing. To make things comfortable for yourself, ask for a monthly statement itemizing every transaction and its associated fees.

Credit card processors are required to pay a fee to the credit card company that generally amounts to 1.65 percent for a normal credit card transaction. Any credit card processor claiming to offer an incredibly low rate of 1 percent should be avoided as the company can make up for that loss by piling on added fees or even hiking rates partway through your contract.

Credit card processing equipment is another matter of concern. These credit card processing equipments generally cost between $300 and $800. In addition, you will need a method for connecting to the processor, either by using a separate telephone line or over the internet.

While selecting a credit card processor for your business, you would also want to know the lag time. Lag time is the time that takes you to receive your customer's payment. The lag time should be anywhere from one to five days.

Debt Relief

Credit Debt Relief in Different Foms

Consolidating credit card debt is an option for people who are having a hard time keeping up with their payments. As interest rates rise, many are experiencing a crunch as they try to stay current with their credit card and home loan payments. This problem occurs when people take on credit card and home loans at low rate levels, only to have those rates increased as a result of penalties or changes in the market.

Further, some people are living in houses which they can't really afford. As the housing market cools, people are finding it more difficult to sell their houses at a price that would allow them to pay off their mortgage. As they struggle to keep up with their mortgage payments, some rely on credit cards to pay for their day-to-day expenses like gas and groceries. In the end, they are left owing on their mortgage, as well as having to pay off increased credit card rates.

At this point, one's options are limited. Consolidating credit card debt is one way that people may regain control of their situation. They may do this through the use of a home equity loan, which would allows them to make a single payment every month on a loan with a much lower interest rate than those charged by credit card companies.

Another option is to consolidate credit card debt with the help of a credit counseling agency. A credit counseling agency may help to negotiate for a lower interest rate from your creditors. Credit counseling agencies may also help negotiate with creditors on behalf of their clients to settle their debts for a discounted amount, sometimes as little as half the total debt.

Credit card debt consolidation can be risky. One may end up paying on another unsecured loan with a tremendously high interest rate. While credit card debt consolidation is never the easiest solution to one's debt problems, it is often the only option for someone struggling with debt.

Students Cards

Student Credit Cards

If you're a college student, you probably already have a credit card. If not, you may have plans to get one or more soon. So why should you read on?

• Because financial debt is one of the main reasons that many students end up dropping out of college.

• Because your college years can be some of your most memorable and some of your most costly. They don't, however, have to be the beginning of an adult life strapped with debt.

• Although you may still feel in limbo between your teen years and adulthood, it's time to take charge of your finances and manage them as an adult. The sooner you do, the sooner you'll be able to start saving and spending your own money.

For those new to credit cards and for others who know all about credit, let's go back to the basics.

Why do credit card companies court college students?

It's obvious by the friendly representatives who offer a free t-shirt or CD just for signing up in the student center. Or the applications slipped into bookstore bags. Or mail boxes crowded with card offers. Credit card companies want college students to carry their card.

Did you ever stop to wonder why? One reason is loyalty once a person has a card in their wallet, they are likely to keep that particular card and its upgrades for years to come. Another reason: college students are good customers.

While this may seem ironic considering that most college students are without a steady source of income, CNN says this is one example of how the credit card industry has changed radically in the past decade or so. Previously, conservative rules deemed a good customer as one that paid their bills on time, he says. Now, a good customer is one that can't repay their debt.

Credit is no longer an earned privilege, continues CNN. It's now considered a social entitlement, and the screening criteria (for card applicants) is weak.

Banks make money by charging annual fees, late payment penalties and interest fees on unpaid credit card balances. Therefore, card holders with revolving debt (those who do not pay their balances in full each month) are desirable. It illustrates this point beautifully through an example of a student with a credit card balance of $15,000 at an interest rate of 18.9%. If this student faithfully makes the minimum monthly payment of 3% or $25 whichever is higher, and does not charge anything else to the account, it will take more than 16 years and $7,173 in interest fees to repay the bill!

Additionally, CNN notes the banking industry has learned that college students will draw upon various sources of income to pay their debt including student loans, money from part-time jobs, and as a last resort, many will ask a family member to supply the funds to get them out of debt.

How to make credit work for you, not against you

According to CNN, 79% of college freshman have at least one credit card. And for good reason. Credit cards enable online purchases from text books to concert tickets, make it possible to rent a car, and help with medical emergencies or vehicle breakdowns. Used wisely, credit cards can be helpful throughout college, and can assist you in the development of financial management skills.

As soon as you get your first credit card or loan, you have entered the world of credit reports and scores. A credit report is compiled by credit bureaus and contains information about your identity and credit relationships, among other things. Credit scoring is a system that lenders use to help determine your credit worthiness.' Credit scores are based upon your bill-paying history, the number and type of accounts you have, late payments, collection actions, outstanding debt and the age of your accounts.

It's vital to know that your credit score affects your ability to get loans, car loans, and home mortgages. Future jobs and insurance premiums can also be influenced by your credit score. By paying your bills in full or in a timely manner, a credit card will help you establish a good credit score. Late payment or no payment will help you earn a poor credit score. For more information on credit reports and scores and how they affect you, check out a money educator, cites unrealistic expectations as a major reason for high student debt.

CNN, who teaches personal finance courses, says Many students' expectations of their earning potential after college far exceeds what their actual income will be. She notes that some students use their credit cards with abandon during college, planning to pay off their debt when they land that great job after college. Indeed, some students forget that in order to get to the top of the career ladder, there are a few rungs, i.e., less paying jobs, they have to climb first. And the expense of starting a new job and life on your own can just add to existing debt.

contains a great resource for students seeking a more realistic view of the first few years after college. Using the Budget Estimator,' a module designed by him, students can identify an average yearly or monthly starting salary for jobs in their particular major. The program automatically figures in estimates for taxes and social security payments. Students can then plug in expenses for housing, car payments, utilities, food, insurance, telephone and internet bills, clothing, credit card bills, student loan payments, and entertainment, etc. The module lets you know when you have spent more money than you make, and allows you to adjust payments as necessary until you get the hang of how your money is best distributed.

Students that seem to have the most credit woes? Those who believe their standard of living during and after college should not vary from when they lived at home on their parents' income. Cable television, cell phones with cameras, and new cars become necessities' instead of nice extras.

Advice to grow on

When it comes to credit cards, students have great advice for other students. Heather, a college junior from Arkansas, recommends getting one card with a low limit. This limits the amount of credit you have access to and therefore removes the temptation to spend more than you have or more than you can pay off immediately, she says.

Another student recommends selectivity. Don't sign up for a card that charges an annual fee to use it, and read the terms of the card before applying. You wouldn't believe how many people don't know what an APR rate is.

Merchant Account anf Credit Card

How To Accept Credit Cards Without a Merchant Account

To increase sales on your website, you must accept credit cards. To process credit cards, you could apply for a merchant account through your bank or other financial institution.

Sometimes, though, you would be further ahead to use the services of a credit card processor. This is especially true when you are first starting out and have more limited resources. In this way, you may process credit card transactions without the high front-end costs and requirements of a merchant account.

Here, then, are just a few ways of accepting credit cards without a merchant account. I personally use all of these vendors and can recommend them wholeheartedly.

1. Clickbank

If your product is downloadable (such as electronic books or software), you might consider ClickBank.com . For a $49.95 initial fee, you can process credit cards and on-line cheques for $1.00 per transaction plus 7.5% of sales.

You receive additional exposure through free listing on their website and through the search facilities of other websites, such as CBMall.com .

As an added bonus, you have your own built-in affiliate program. You decide what commission (from 1% to 75%) you would like to pay your affiliates.

2. PayPal

PayPal.com has no initial fees. For just 2.9% of sales and $ .30 per transaction (and sometimes less), you can receive money from anyone.

Also, you can pay others by credit card or chequing account without supplying your personal credit information to the payee. PayPal can be used to collect money from your auctions, website sales, or even from friends or clients.

3. PaySystems

PaySystems.com can handle either intangible (downloadable) or tangible (shippable) products. For an initial fee of $49.00, you can accept all major credit cards as well as online checks. Fees are just 3.95% of sales and $1.00 per transaction. Alternatively, you may pay 5.5% of sales and $ .35 per transaction.

For this, you receive shopping cart, integration with third-party affiliate programs (such as ClixGalore.com ), fraud screening, multi-currency transactions, toll-free support, marketing tools, and more.

Wise Use of Credit Cards

Using Credit Cards To Your Advantage

Obtaining a credit card is fairly easy and if used the right way you won't get into debt. Credit Cards can pay your bills, college tuition and the next vacation. What you do not want is to be a slave to your credit card.

Principal #1

Only buy something which you planned for in advance and have the money to cover the credit card in the bank when the bill arrives. This allows you to basically take out an interest free loan for a month while your money collects interest in the bank. However, this takes discipline and planning.

Principal #2

Never use the credit card to pay off another credit card. This will only set you up for big time debt and future financial worries.

Principal # 3

Choose a credit card that does not have a yearly fee and gives you air mileage. I like to pay the card off each money and collect air miles at the same time.

Principal # 4 Use the credit card responsibly and do not allow impulsivity to take over.

In summary, credit cards can be your best friend especially around christmas, birthdays or holidays or they can be your worst friends after all is said and done. You have to treat them with care and do not abuse them. Always pay them off each month and enjoy the feeling of borrowing money from others at their expense. I do and it is a great feeling.

Secure Credit

Got Credit?

Getting a credit card is very important set for most adults, however not everyone knows what to look for especially if your credit is blemished. Look for APRs or the annual percentage rate this is the amount of interest that you will pay if you carry a balance. APRs are stated in yearly interest rates.

Because with multiple interest rates, for example you may think that you have a low interest rate of 8% and if you take out a cash advance your interest rate may jump to 19%. Sometimes you have a tired interest rate, meaning that your rate changes depending on the amount of your balance.

Penalty APRs are in effect when you miss a payment, some banks will penalize you if your payment arrives late by increasing the interest rate. For example if your payment is 10 days late your APR may go up from 12% to 16%. Introductory APRs are very common, you may receive an offer that sates a 5% APR for the first 6 months, after that it my rise to 18%.

If your credit card is lost or stolen and used without your authorization, you do not have to pay more than $50 of those charges. This is a protection provide by the Truth in Lending Act. You do not need credit card insurance to cover amounts over the initial $50.

Credit Card Processing

Credit Card Processing

In modern times so many business establishments accept credit cards that many consumers have come to take their use for granted. Between debit cards and credit cards, the world economy is gradually shifting to a cashless society. True to science-fiction predictions a half-century ago, it's possible that in the near future almost all transactions can be handled without the need of paper money.

Of course, this trend leaves businesses with very little choice in the decision to accept credit cards. Even losing the ability to accept them on a temporary basis may result in a damaging decline in sales. The end result is that accepting credit cards in a timely and successful manner has become an absolute necessity for not just large corporations but even small business owners as well. Indeed, small businesses especially need to provide safe and dependable credit card service to their customers, as that extra source of income can often make or break a fledgling enterprise.

Offering customers credit card service begins with setting up your merchant account. A merchant account provider, who will offer a variety of protection and security services, typically furnishes these accounts, either free of charge or for nominal fees, when you set up your account. Sometimes, a merchant will use a bank as its merchant account provider; however, some banks charge exorbitant fees for credit card services, including even charging 5% or more of each transaction.

When choosing a merchant account provider, a good way to shop is to check and verify which trade associations the provider belongs to. You may also want to consult and research businesses in your industry or market, verifying which providers they use and aligning yourself with their practices. Of course, simply checking with the Better Business Bureau is another surefire, time-efficient means of choosing your merchant account provider.

There is perhaps no more important area of the economy for reliable and safe credit card processing than the Internet. Since the rise of ecommerce in the late 1990s, the demand for effective credit card services and Internet merchant accounts has grown exponentially, with many small businessmen choosing to deal with a merchant account provider directly in handling their ecommerce needs. With today's higher awareness and risk of identity theft especially, choosing the right credit card services provider becomes all the more crucial. Many credit card service providers are available online, and require only the simplest forms of registration. Though many are not completely reputable, some adhere to the strictest codes of ethics and practices. When choosing your service provider, look for their seals of approval and research testimonials from actual users. You may also want to look for the seal of approval given by a number of Internet service providers and software manufacturers.

Fixed Rate Credit Cards

Fixed Rate Credit Cards Explained

There are so many types of credit cards around that it can be hard to work out which is the best. However, one type of card that is quite popular is the fixed rate credit card. Fixed rate credit cards give you the peace of mind that your APR will remain the same for a given time, with all the benefits of a normal card. If you want to know more about fixed rate credit cards, then this article can help you.

What does 'fixed' mean?

A fixed rate credit card is a card that has an APR that will remain constant for a certain period of time. Most fixed rate cards offer a fixed APR for around 3 to 5 years. This means that your interest payments will remain the same during this period.

Why get a fixed rate card?

If you have a fixed income and cannot afford your repayments to rise, then getting a fixed rate card would be a good choice. Even before you spend any credit you can work out what the charges will be over the next months and years. This will help you to budget more effectively and know exactly what you will be paying each month. If you want the peace of mind that your repayments will not change, then a fixed rate card is a good idea.

What are the costs involved?

Although fixed rate cards are by no means costly, they do generally have higher interest rates than variable rate cards. The lender is taking a risk by offering a fixed rate card, because the base interest rate could rise and they could lose out. This is why the interest rates offered on fixed rate cards are on average 2-3% more than regular cards.

Not everything fixed

Although your APR will remain fixed for the next few years, it is important to remember the other charges involved in credit card billing. The lender might not be able to change the APR, but they can always change the late payment fees or balance transfer charges. If interest rates rise you might find that your charges rise too, leaving you with a card that isn't beneficial.

Variable rate cards

The alternative to fixed rate credit cards are variable rate cards. These cards have an APR that can change, usually in line with the base interest rate changes. Although a card issuer is much less likely to reduce your interest if rates fall, they do have to remain competitive and so this could happen. However, more likely is that your rates will rise year on year.

Is a fixed card the answer?

Although fixed cards have the benefit of keeping your repayments at the same rate over the years, they do have higher interest and unless you really want to keep the interest fixed for budgetary reasons, you would be better to stick with a lower APR card and switch cards if the rate rises too much.

Credit Score. Basic Notions.

Credit Score. Basic Notions.

There's a lot of confusing information about credit scores out there. There are people out there who believe that they don't have a credit score and many who think that their credit score doesn't count for much. Your credit score can spoil your chances of getting some jobs, of good interest rates and even your chances of getting some apartments.

The fact is if you have bills and a bank account then you have a credit score and your credit score matters more than you might realise. Your credit score is may be refered to by a number of other terms, including a credit risk rating, a credit rating, a FICO rating, a FICO score or a credit risk score. All these terms refer to the same thing the three-digit number that allows lenders get an idea of how likely you are to repay your bills.

Each time you apply for credit, apply for a job that requires you to handle money, or even apply for some more exclusive types of apartment living your credit score is checked.

In fact, your credit score can be checked by anyone with a legitimate business and reason to do so. Your credit score is based on your past financial responsibilities and past payment records and credit and it provides potential lenders with an easy snapshot of your current financial state and past repayment habits.

Your credit score lets lenders know fast how much of a credit risk you will be. Based on your credit score lenders decide whether to trust you financially and give you better rates when you apply for a loan. Apartment managers will decide whether you can be trusted to pay your rent on time. Employers will decide whether you can be trusted in a high responsibility job that requires you to handle money.

There's quite a bit of misinformation circulated about crdit scores especially through some less than scrupulous companies who claim that they can help you with your credit report and credit score, for a fee of course.

Advertisements and suspect claims can mislead you to the point where you may come away with the idea that in order to boost or fix your credit score, you will have to pay a company or leave credit repair in the hands of the so-called 'experts'. This is not necessarily the case. It is possible to bring down debts and boost your credit by yourself with no expensive help at all.

Repair Letter

Credit Repair Letter

The best way to repair your credit is to write letters to the credit bureaus and collection agencies. These letters are commonly referred to as "credit repair letters". There are many different credit repair letters for many different situations. The most popular credit repair letters are dispute letters, debt validation letters, pay for delete letters and cease and desist letters.

Dispute Letters

Dispute letters are written to the credit bureaus to dispute an account, public record or personal information. Dispute letters are incredibly effective. There are many sample letters available on the internet; unfortunately most sites offer letters that state much more than they really need to. They quote the Fair Credit Reporting Act and other laws in hopes of "scaring the credit bureaus" into removing negative accounts. Some of the letters even make threats of litigation. All of this is unnecessary and will usually end up hurting your case more than it helps. Keep your dispute letters simple and to the point.

Debt Validation Letters

Debt validation letters are written to collection agencies to ask a collection agency to validate a debt. Debt validation is simply a consumer's right to challenge a debt and/or receive written verification of a debt from a debt collector under the Federal Fair Debt Collection Practices Act (FDCPA).

Pay for Delete Letters

A pay for delete letter is usually written to a debt collector in hopes of negotiating to pay on an existing account in hopes of having the account removed or updated as positive on your credit report.

Cease & Desist Letters

A cease & desist letter can be sent to anyone, usually a debt collector, to request that they immediately stop contacting you. These letters should be sent certified, return receipt so that you have proof that it was received by the collector should you ever have to provide the evidence in court if they violate your federal rights.

Secrets You Wanna Know

Four Credit Card Secrets

You have probably heard credit card advice like "look for the lowest interest rate," and "try to avoid cards with annual fees." Those common sense tips won't be covered in this article. This is about the credit card secrets you may not have heard. Here are four of them.

1. Get rid of annual fees. What if your cards have annual fees? Can you keep the cards and get rid of the fees? You sure can. Most credit card companies don't want to lose your business. If you have been making the payments on your cards on time, just call and say you want to cancel your account.

Your call will be immediately handed over to an account manager or "customer specialist" who will ask you why you are canceling your account. Explain that you have decide to keep only those credit cards that don't have annual fees. At this point they should offer to drop the fees if you keep the card. This worked on three out of four cards I called on, and I just went ahead and canceled the other.

2. Watch out for changing due dates on your statements. It isn't enough to get you for fees and interest. Some credit card companies are now purposely changing the due dates on your credit card statements so you'll accidentally pay late.

Of course, this lets them collect a hefty late fee, but that's not all. They'll also be able to raise your interest rate, and even raise the rate on other cards you may have (see number three below). Bottom line? Check the statement - your payment due date may not always be the same.

3. Watch out for universal default rules. Read that fine print. Under "universal default" rules, if you are late on one card, or if you go over your limit, your interest rate can be increased on other cards as well. They love to get you with this one. Default interest rates can be 10% higher than the normal rate, which means you could pay an extra $400 per year on $4,000 in credit card debt.

4. Reduce credit card debt fast by paying only the minimums on most cards. Suppose you can budget $200 monthly to pay down your credit card debt. The best way? Pay the minimum on all cards but the one with the highest interest rate, and put all the rest of the money towards that one.

For example, if you have four cards, and the minimum payments are $25, $30, and $45 on the lower interest ones, pay just those minimums, and then apply the other $100 to the high-interest card. Once it is paid off, keep applying that $200 to the debts, again paying only the minimums on all but the highest-interest-rate card. This is the fastest way to eliminate your debt, making it perhaps the most important of these credit card secrets.

Credit Fraud

Credit Fraud Secrets Thieves Don't Want You To Know

Have you ever been a victim of credit card fraud? If so, you know just how traumatic it can be. What's more, if you don't detected it early enough, it could leave bad marks on your credit report that could haunt you for many years. The most commonly thought of credit card fraud is when your wallet or purse is stolen, and the thief uses your credit cards to make unauthorized purchases.

But, with the increasing rate of online buying, another form of credit card fraud, known as misappropriation, is spreading like wildfire. These days the only thing a thief needs to create havoc on your credit life is your credit card number not your actual card.

Here are just a few ways that this type of fraud can happen to you:

* One day your telephone rings, you answer and the person on the other end of the line tells you that they have a one time special offer, good for today only and that you simply need to provide them with your credit card number to make a purchase. STOP! Don't ever give out your credit card number to anyone who calls you. Only provide this kind of information if you have called the company to place an order, and you are positive that it is a well-established reputable business.

* You find that someone has gone through your trash. Then when you receive your credit card statement, you find that there are dozens of unauthorized charges. STOP! Always tear up your credit card receipts and bank statements before putting them in the trash. Better yet, buy a paper shredder from a local office supply. Many thieves go through unguarded trash bags specifically looking for your credit card staments.

* You go out to eat in a restaurant and pay the bill with your credit card. On your next credit card statement, you notice that there are unauthorized charges that started the same day as your restaurant meal. It turns out that the waiter made an extra imprint of your card when he rung up your bill, and then used the number to go shopping. The solution? Many restaurants have placed their credit card processing centers in plain view of the customer's sight to combat this problem. If not, you could follow the waiter to the charge station, and watch him throughout the process. It's also important to make sure that they know that they are being watched.

You may be wondering if there are other measures that you can take to make sure you aren't a victim of credit card fraud? Yes there is and here are a few suggestions.

* If possible, carry your credit cards and other bank information somewhere other than your wallet or purse. This way, if a thief nabs it, you will be out only your cash - not your credit cards.

* Another way is to only take the credit card that you intend to use that day and leave the others at home.

* Make a list of all your credit cards and keep it in a safe place, make sure to list the numbers and contact information of the issuing company. That way, if you do lose them, you will have the information necessary to contact the credit card company as soon as you notice the theft.

* Never sign a blank receipt, and always be sure to cross out blank lines. For example, if you bought something that didn't require a tip, cross out the tip line so nobody can add to it later.

* If you're making a purchase online, be sure that you do so via a secure site.

* If you move, report your new address to your credit card issuer immediately. Also fill out a change of address form at the post office. Sneaky thieves are on the look out for people moving, and then watch the mailbox of the old house, hoping that they can intercept a credit card statement.

Following the above suggestions doesn't guarantee you'll never be a victim of credit card fraud, but it will greatly reduce your chances.

High Interest Credit Cards

High Interest Credit Cards

Most high interest credit cards are usually easy to get and really the interest rate only matters if you roll over your balances from month to month. People that have had bankruptcies, judgments or just have a bad credit rating, for what ever reason are the most common applicants for high interest credit cards. Many low interest credit cards will allow you to transfer balances from your high interest credit cards but you must have a decent credit rating. The most important thing about a balance transfer card is the amount of money it will save you, especially if you have a high interest credit card that you carry a balance on.

Credit

Beware some credit card companies will try multiple ploys to get you signed up and then if your late on a payment for some reason, charge large fees even if your credit card payment is only one or two days late. Those who want to apply for a major high interest credit card to re-establish or to establish new credit should consider the price they will ultimately pay. Even those who don not qualify for low interest credit cards should still shop and compare to get the best deal available.

Interest

Most major financial companies base the interest rates on your credit score, this tells them whether you pay on time and just how you use your credit. If you have a card with high interest rates you DO NOT want to carry a balance. If you do get a low interest credit card and make a payment late, the default interest rate goes into affect, sometimes up to 22 percent, making it very hard to ever get caught up. The difference between high interest credit cards and low could be hundreds and even thousands of dollars a year.

Getting your high interest credit cards paid off should be your top concern. When your credit score improves try to transfer all of your high interest credit card balances, some transfer cards even offer 0 introductory offers for balance transfers, thus making it much faster and easier to pay off your debt.

Eliminate Credit Card Debt

Eliminate Credit Card Debt

At this time many people have come to represent a social status, in essence many people believe that by dragging out their credit card upon making a purchase, they somehow are signifying their status within society. Essentially most people make use of their credit cards for a variety of things without giving real thought to the implications that could happen in the future from doing so. Many people who carry credit cards, also have the enormous debt that goes along with it. It is said that an average family will carry more than seven thousand dollars in credit card debt alone and is being charged around one thousand dollars in interest alone on a yearly basis. The one thousand dollars that is spend on the interest, could be more useful in other areas such as savings, investments, or paying other bills, instead of essentially flushing it down the drain because you use the credit card for all purposes.

The best way to eliminate your debt made with credit cards is to simply cease in using them. If you carry more than one, you should choose the card that has an interest rate that is lower than the others and only use that one for emergencies. This card again should only be used in the event of an emergency. Another way to accomplish the elimination of credit card debt, is to begin to pay them off. Sit down and make a list of all the debts you have and the amount you have to pay on a monthly basis for each. You should begin by paying off the debt of the lowest amount first, once you have paid that one off. Take the same amount and begin to pay off the next one up and continue until you have paid them all off.

Another step you can take is to begin by paying off the credit card that maintains the highest interest first or take into consideration consolidating the debt you have by using a loan that carries low interest, such as a home loan. By using these tips in eliminating your credit card debt you could begin to take control of the financial aspects of your life, it is important that you completely understand that the use of your credit card on frivolous items, could result in financial peril.

Credit Scoring

Credit Scoring

Credit scoring is an important aspect of life. This number tells creditors, employers and businesses that a person is trust worthy and pays their bills on time. This type of information is used in all walks of life. From job opportunities to buy a home or a car and gaining a credit card, an individual must have a good standing in their credit history. If an individual hopes on purchasing a new home or car, this must be in good standings. A person desires long term financial freedom. They want to repair their damage in a timely manner so that they can buy large items and take fabulous vacations on their new credit card. There are methods in finding out this information free and without much effort.

Each person can find out exactly what their credit scoring is when they locate free businesses on the internet. This type of company offers an individual to check each year for free their credit score. After a few simple questions that the person would surly know off the top of their head, they can view their credit scoring and any outstanding debts they may have. If an individual sees that they have horrible credit or the credit scoring will not allow them what they desire, there are several methods to rectify this situation.

The first step an individual needs to do to have a higher credit score is to pay off old debts. Even if this was for 10 years ago, it will assist in a person's credit scoring immensely. Once the debts are completely wiped clean, an individual can begin obtaining a no credit or bad credit MasterCard or Visa. This will be helpful for a person to begin gaining a fabulous credit score and be able to purchase their dream home or vehicle. It takes only a few short months to gain terrible credit and it takes a few years to create a better credit scoring numbers. Start small; begin by purchasing one or two items on the new card and then paying it off almost immediately. This method will not only boost a person's credit rating, it will also help in achieving a higher amount on the credit card.

Every individual runs into hard times in their life. A person may not be able to afford all their bills one or two months. Then after that, the history starts plummeting and an individual has a difficult time getting out of debt. There are methods to ensure that each individual can gain a fabulous credit scoring once again. One or two bad months out of life does not need to detour a person from finally receiving excellent credit for the things they desire in life.