Warning Labels Mandated For Credit Cards!
Listening to a late night radio recently there was a committed follower of the talk show host who was exclaiming that after taking the cure for piling up significant debt that after 5 years of work, the couple was debt free. The caller came from the painful pile of debt ranging from credit... More...
Security factor in dealing with credit cards
Fraud is common to see in the life of every individual. The forgers are said to be smart enough and tend to move a step ahead to normal person. It is popularly stated that prevention is better than cure. Keeping this statement in mind, it is beneficial to keep safety factors in mind while making... More...
How to Legally Get Up to 30 Extra Days to Pay Your Credit Card Bills
It seems simple enough. So simple that you've probably overlooked it. I know I did. This little trick I'm about to reveal to you never even occurred to me until I switched to using my American Express (AMEX) card as my primary spending card. I started... More...
Summary of Credit Card Terms - Part 1 (A-B)
Account Number – This is the number given the most exposure on a credit card. Often around 15 letters, and embossed on the physical card that the financial institution will give to a customer. Additional Cardholder – This is when the
Summary of Credit Card Terms - Part 4 (M-P)
Magnetic Stripe – A magnetic stripe contained on a credit card processes transactions where the card is present. This provides identifiable information that will allow the merchant to debit their customers account via the issuer. The magnetic stripe has magnetic and physical qualities as defined... More...
Summary of Credit Card Terms - Part 3 (C-I)
Credit Card – The plastic card provided by the financial institution which is used to authorize payments and contains details that can authorize payments in cases where the card is not present at the merchant’s location for a transaction. Credit Card... More...
Summary of Credit Card Terms - Part 2 (B-C)
Bad Credit Rating – This is a term associated with a person or a company that have failed to honour fiscal obligations in the past. It is most likely they have either completed payments late, have been bankrupt of perhaps exceeded their pre-agreed card limit. Bank Identification Number –... More...
Summary of Credit Card Terms - Part 6 (R-S)
Receipt – When used in the context of credit card receipt means a document that provides a record of a transaction that took place at a point of sale, and may also refer to a printable copy for a card not present transaction. This will include... More...
Summary of Credit Card Terms - Part 5 (P-P)
Per Transaction Fee – Fee in which the merchant pays to the merchant bank in order to process a transaction. When charged as a per transaction fee this will generally be a fixed fee, regardless of the size of the transaction. This is why certain retailers allot a minimum amount of expenditure... More...
Credit Cards – Do’s and Don’ts
Credit cards are becoming an increasingly popular way of processing transactions. Today, around 20% of adults in the USA use plastic over cash, however as more people decide to use credit card more controversy arises over their misuse. So how should we... More...
Credit Card Fraud: Avoiding the Unavoidable
Credit card fraud is on the rise, with certain sources claiming that the internet has been the breading ground of this illegal industry. With reports suggesting that around 1 in 40 transactions are fraudulent, how can we as consumers avoid facing the brunt of credit card fraud?
Summary of Credit Card Terms - Part 7 (S-V)
Statement – Statement, when used in the context of credit cards refers to a written record prepared by a credit card company that is usually issued monthly. This will list all transactions and debits/credits that affect a customer’s account. Customers... More...
7 Effective Ways to Improve Your Credit Score
There are many misconceptions about credit scores out there. There are customers who believe that they don’t have a credit score and many customers who think that their credit scores just don’t really matter. These sorts of misconceptions can hurt your chances at some jobs, at good interest... More...
The Truth About Credit Report Monitoring Services
"Hello, this is the fraud department of American Express, is Stephen Snyder available?" That's what my assistant Brenda heard when she answered the phone recently. I quickly called back. The gentleman asked if I recently purchased anything from Sony Electronics and... More...
Credit Cards v Bank Overdrafts
When it comes to borrowing money both bank overdrafts and credit card are seen as effective solutions in the short term. Both have inherent advantages such as flexibility and short-term cost effectiveness, but what are the disadvantages and how should... More...