Best Credit Card Offers

3 New Credit Card Technologies are Ready to be Rolled Out

2010-10-26T07:51:00.000-07:00

Credit card companies are constantly trying to come up with new ways to fight credit card fraud and identity theft. Dynamics Technology has just announced 3 new credit card technologies that are ready to be rolled out, just in time for the holidays - of course. With any luck the credit card companies signing up to use this technology for their cards will be able to finally find a way to keep would be credit card thieves from being able to skim your number, duplicate your card, and steal your identity.

According to Dynamics Inc., your credit card will remain the same size as before, offer more credit card security than previous cards, and offer more user functions. The Dynamic Credit Card™, uses a new Card 2.0® platform technology, promising the ability to have multi-accounts on one card, hidden numbers, and new redemption abilities. The 3 new Card 2.0 applications include:

MultiAccount™ - This card will have 2 buttons on the face of the card allowing you to select which account you wish to use by using a light source to highlight the accounts. By selecting which account you wish to use the account information will be written to the electronic stripe on your card.
Hidden™ - This card will have 5 buttons allowing the card to hide account information. The card will require a code to be turned on, reveal hidden numbers, and populate the magnetic strip. The card automatically turns off and erases information after a period of time, rendering it useless if lost or stolen.
Redemption™ - This card has a single account number but includes 2 buttons with associated light sources, which allows you to decide whether you wish to use credit or redeem points associated with your card.

Citibank has announced they will be one of the first credit card companies to use what they are calling the Citi 2G card, using Dynamics 2.0 technology. This card will be a multi-account card, display most of the account number but requires a PIN to disclose the rest of the card info, and offers the option to redeem points at the point of sale, instead of use credit. Citi is coining this card it's second generation credit card.

With a number of developers working diligently to come up with a better more secure way than to use credit cards these credit card technology developers may have some competition to look out for. Will credit cards ever become extinct, or non-existent? Will your cell phone become your newest method of payment? Who knows? Most of us never thought we would see the demise of a travel agent, a bank teller, the mail system, or retail stores but with the amazing technology available today all of these industries are struggling to stay alive. So, who knows what the future will bring? We know that November is going to bring us some interesting new credit card options. Let's hope they can provide the security and opportunities they say they can.

0% Credit Card Offers??

2010-10-21T10:48:00.000-07:00

Are 0% credit card offers back? A couple years ago credit card companies began to pull all of their offers on 0% balance transfers, raising their interest rates, and becoming more particular about who they offered credit cards to. Has that changed? Many credit card companies are now starting to offer 0% credit card balance offers for 12 months, 15 months, 18 months, and some up to 21 months. Some have even dropped the transfer fee from 5% to as little as 3%.

So, what is the catch? These offers used to be offered to almost anyone, whether they had good credit or not, and often even mailed out in bulk without a lot of prequalifiers. However, now the credit card companies are screening their potential customers a lot closer. Chances are you will not see this kind of offer in the mail, you are probably going to have to search it out yourself. And even if you find them, you may not qualify. Many credit companies are raising the minimum FICO score from 720 to 750, offering no breaks on the 3-5% balance transfer fees (with no cap), and once the 0% APR intro rate expires the interest rates may go up to 20% or higher.

These 0% APR credit card offers can be very enticing, but they are not for everyone. If you are considering seeking out one of these cards here are a few tips to keep in mind:

Know your credit score - If your FICO score is suffering, chances are you will not be approved, and your credit will get dinged when the credit card companies start running credit checks.
Read the fine print - Watch for misleading advertising with lead in words like "as low as", "up to", "starting at" etc...they often end with "for qualified" and "on approved". Find out what YOU qualify for before signing.
Calculate savings - Factor in all aspects of the offer including amount you are borrowing, length of intro rate, transfer fees, and interest rate after intro rate. Then compare to your current rate over same amount of time.
Consider your level of debt - If you are over your head in credit card debt to the point you will not be able to pay off the credit card within the 0% APR introductory period you may want to reconsider.
Compare your current card - Speak with your current financial institution as they may have unadvertised offers, or be willing to make you a better offer if they know you are considering cancelling their card.

The greatest tip of all - PAY OFF YOUR DEBT - 0% APR intro credit card offers can be a fantastic way to get rid of your credit card debt. If you set a goal to pay off your debt within the introductory period and manage your money wisely a 0% intro card may be a great solution to your debt. But, if you are looking to use this time to rack up more credit card debt just because it is a 0% APR then you may want to reconsider whether these offers would be the best solution for you.

If you know your credit score is too low, debt is too high, or if you are trying to rebuild your credit there here are a few other solutions you may wish to check in to:

Prepaid Credit Cards - These cards help you manage your money while re-building your credit. Good alternative to revolving credit when you just must have a card, like when renting a car.
Student Credit Cards - Many students do not have bad credit they just don't have enough good credit to qualify for certain offers.
Rebate or Reward Cards - If you have low credit card debt and pay your card off regularly why not benefit from it, and get something in return?

Find the Best Credit Card for You

2010-10-15T10:11:00.000-07:00

There are a number of things to consider when you looking for the best credit card for you. Some things to consider include: age, past credit history, spending habits, and the type of purchases you make the most. You may not have thought about all those things or may not understand why they affect which credit card will be the best credit card for you. You were probably thinking, I just want a credit card with no annual fee and really low interest. Let us explain a little more about why you may want to consider these other factors as well.

If you are very young, have no real credit history, and have never had a credit card before, finding a really low interest rate card with no annual fee may not be very easy. However, if you start looking for student credit cards, you may be able to find a great deal. Student credit cards are a great way to start building a credit history and a high credit score. Just remember, paying your bill on time and not carrying a high balance are essential in helping build a high credit score as well. Most student credit cards will offer reward points that you can earn on almost anything you buy so be sure and look around for a card that has the best rewards, that are easy to claim.

Past credit history is important because the type of cards you will be approved for will depend on if you have no credit history, a bad credit history, an excellent credit history, or if you fall somewhere in between. If you have NO credit history or a BAD credit history, you may want to look at a prepaid credit card. A prepaid credit card is much like a debit card. Depending on the card, you can have you paycheck automatically loaded onto the card and then use the card just like a debit card. Most prepaid credit cards do not require any credit check. This is a great card if you are worried about spending more money than you make because you can only spend as much as you have on the card.

If you have fair to good credit you will probably have to pay a little higher interest rate and may have an annual fee. Always look around. Try to find a card that offers rewards at retailers where you shop a lot or on the type of merchandise you typically purchase with your credit card. Work hard to show your financial responsibility, i.e. don't max out all your cards and pay your bills on time every month. After a few months of maintaining a low balance and paying your bill on time, call your credit card company and ask if they will lower your interest rate. If they can see you are showing financial responsibility, most companies will reward your efforts, if you ask.

If you have excellent credit, look around for the best deal. There are a ton of reward cards out there so look for one that will reward you with things you will use: air miles, cash back, gas rewards, or whatever you will use. Check around for the best credit card deals and then apply for the ones that will best fit your needs. With an excellent credit history, you don't want to settle for the first offer that comes to you in the mail. Be pro-active and find the best deal for your needs!!

Credit Card Fees and Bank Fees

2010-10-07T13:48:00.000-07:00

We have talked about credit card fees before, but with the Credit CARD Act of 2009 and all the changes that have taken place over the last year, we figured it is time to take another look. The CARD (Credit Card Accountability, Responsibility and Disclosure) Act was signed into law by President Barack Obama in May 2009. Here is a quick overview of some of the most important parts of the bill:

No more random interest hikes
No more universal default rate increases
No more contract changes
No more double cycle billing
No more fees on interest only
No more due date tricks
No more breaking up payments

So that is a lot of "no more" and it all sounds pretty good when you put it that way. No more taking advantage of the customer that is doing their best to pay what they can as soon as possible. No more sneaky tricks that you don't find out about until you get your monthly statement, only to be told that it isn't a trick and that it is in the credit card disclosure you received when you applied for the credit card (you know that 10 page booklet in size 6 font, written in legal jargon that no one understands). The same idea is coming forth with the changes to banking regulations, most likely you have been asked, or received a notice from your bank, about overdraft protection. This is an effort to make sure that banks are telling customers, up front, what they will be charged if they account is overdrawn. They aren't necessarily lowering what they charge, they are just telling you before hand what it will be.

Hopefully what these laws will do is bring awareness to the consumer about what fees they are likely to be charged in any given number of circumstances so that they can avoid, or at the very least know ahead of time, what their financial choices are going to get them in the end. There are some credit card fees that may be worth paying:

Balance Transfer Fees - you have probably received an offer at some point for 0% balance transfer for 12-18 months. These always come with a balance transfer fee (generally between 3-5% of the total balance you transfer) but if it keeps you from paying anywhere from 6-24% interest that you would have paid over the same amount of time, you will still save a lot of money!
Annual Credit Card Fees - you may wonder why this is a good idea when there are so many cards offered with no annual fee. Well, it depends on how you use your credit card. Generally credit cards that have an annual fee offer some pretty lofty awards. So research the card, find out what they are offering and if you will gain more than it costs you in annual fees. If you gain more than you pay, it's a good deal

We don't really see any benefits to paying bank fees, but they may just be one of those unnecessary evils. Just make sure you are aware of what fees your bank charges. Free checking accounts are getting harder and harder to find. Shop around to different banks to see who has the least fees and then find the one that will best fit into your monthly financial situation. You can avoid most bank fees by simply maintaining a set minimum balance in your account. This may take a little planning and discipline, but the amount of money you save in fees will make it well worth the effort.

New Laws Regarding College Credit Cards

2010-09-27T11:31:00.000-07:00

Graduating from high school and starting college? What an exciting and scary milestone to cross! For most, this is the first real experience with becoming an adult. Most new college students leave their parents home, move to a new city, live in their own apartment for the first time, and become completely responsible for all the day-to-day responsibilities that come with living on your own. But, perhaps the most important of these responsibilities is: financial responsibility. College comes with a very hefty price tag. Not only do you have tuition, books, and fees but many colleges offer room and board plans as well, which can add an additional several thousand dollars a semester to your bill.

With the prices of college tuition rising nearly two or three times the rate of inflation in recent decades, college education costs are more than most typical middle-class families can save for, even using financial aid options available. So when new college students show up on campus and there are a number of credit card companies there offering a free gift when you apply for a credit card, students are being sucked in, in masses. Without any real understanding of debt and financing charges, and without any easy way to pay for their schooling, students quickly "max out" their new credit cards by charging everything they can. Before they know it they have hundreds or thousands of dollars of debt, with little or no income to even start paying it off. Not only that, but they are being charged outrageous interest rates because they have no credit card history, or other qualifying factors to get them cheaper interest rates.

Fortunately, there are some changes on the horizon to help. Starting in February, rules for those under the age of 21 applying for a credit card will change. Let's take a look at some of the changes:

Getting a credit card will require a co-signer or proof of income
Financial classes will be required upon college entrance
Credit card companies will no longer be able to give "gift" incentives on campus

While this is a good start to helping new college students make better choices and decisions regarding college credit cards, it is only a beginning. Some college students argue that financial classes should start in high school to help them understand debt and give them more financial information before they are in a desperate situation. Learning about how to choose a student credit card, before they are offered, is important as well as information on how to manage their credit card balance before it becomes unmanageable.

Online Credit Report for Your Annual Credit Report

2010-09-20T12:06:00.000-07:00

Looking at your annual credit report is one of the best ways to keep on top of your financial reputation. You have probably seen numerous commercials for your free credit report online. The online credit report is one of the best ways to keep on top of your financial reports. Why do you need to view your credit report on an annual basis? It is important to know what is on your credit report so that you are aware of any changes that may not have been authorised by you, this can be a great help in preventing identity theft. You should be very familiar with the amount of debt you have and what open credit accounts you have, however; if you have a credit card that you don't use often or that you didn't activate, you may not remember that it is still an open account. By viewing your credit report yearly you will always know exactly what credit accounts are in your name.

Most importantly your credit report details your financial responsibility to anyone that may be considering loaning you money or offering you any type of service that requires a financial obligation from you. Some of these may include, an employer, insurance agent, lender, creditors, utility companies, landlords etc. If you aren't even aware of what is on your personal credit report, you will have no idea why you are repeatedly being turned down for a loan, apartment, or other important financial accounts.

Your credit report includes a number of details including:

Full name (and known aliases and variations)
Social Security Number
Spouse name and information
Current address
Previous addresses
Employer
Credit and loan accounts
Delinquent billing accounts (utilities, medical, etc)
Payment information on all your accounts (late payments, missed payments, etc.)
Bankruptcies
Tax liens
Financial judgments against you

The good news is that any negative information on your credit report does have an expiration date so you don't have to worry that bad habits of the past are going to haunt you forever. Most negative credit history will drop off your credit report after 7 years. While this may seem like a really long time, you can also help offset the negative effects more quickly by establishing good credit and good financial habits. All of your good credit does not have an expiration date, so the more good credit you can establish, the better it will be for your financial future. The higher your credit score, the more likely it is for you to be approved for the things you have to buy on credit, and the better deals you will get on such purchases.

Best Credit Card for Bad Credit

2010-09-13T12:54:00.000-07:00

For starters, if you already have bad credit then it's fairly safe to say you know what type of things can have a negative influence on your personal credit report. But, just in case you are not aware of what thing effect your credit score, here are a few tips:

Avoid filling out credit applications for credit cards you do not NEED.
DO NOT shop banks for a loan, each time you apply, your credit gets dinged.
Do NOT fill out store credit card applications for a free gift, or to save 10% on a $100 purchase.
Avoid having too many credit cards with open balances.
If possible, avoid bankruptcy, foreclosures, or a short sale.
If medical bills are an issue - see what state assistance may be available.
If bill payments are more than you can afford, make arrangements for payments less than the minimum instead of paying nothing at all.
Do not be late on your credit card payments.

And here are a few tips on what you should do to improve your bad credit:

Have only one or two credit cards.
Use credit card only for emergencies.
Pay off credit card monthly.
ALWAYS make more than the minimum payment.
Unless is pays off in the long run, avoid balance transfers.

Now, if you are aware of how to avoid having further bad credit issues and ways to improve your credit score. And, are looking for the best credit card for bad credit then you should look at getting either a secured credit card or a pre-paid credit card. With these cards you may expect:

Secured Credit Cards -

A required deposit
Higher interest rates
Application fees
Annual Fees
Over the limit fees

Pre-paid Credit Cards -

Pre-payment of funds
Fraud or loss protection may not apply
No credit checks
No age limits
No debt
No interest rate
Credit card fees - enrollment fees, maintenance fees, and non-use fees
Required minimum balance

The good news is, once you have re-established good credit by showing that you are a responsible credit card holder you will be in a better position to get much better offers from low interest credit card companies. There is no simple quick solution to bad credit issues - it takes time and patience to rebuild your credit. What may take you a very short period of time to destory may take years to fix. Just be patient and diligent in your goals to improve your credit and eventually you will get there.

How to Get Credit Card Offers

2010-09-07T09:44:00.000-07:00

Perhaps you have noticed that the mail box isn't as full as it used to be. While credit card offers poured in during previous years, they have significantly decreased as the result of economic hardships, and the tightening credit card market. Slowly but surely, credit issuing banks are beginning to solicit more business again. However, they seem to be more particular about who they send advertisements to, singling out those with high credit scores and a history of frequent card use. This leaves some individuals in search of new credit lines and wondering how to get credit card offers.

The more credit offers one receives, the more options they will have when shopping for the best rates and features. One of the best resources for locating card offers is the Internet. Online, people can research current trends and available promotions in the credit card industry. After carefully examining multiple offers from some of the leading credit card companies, one can apply instantly to online credit card offers. Often, responses are processed immediately and cards are shipped shortly after by mail.

In addition to using the Internet to search for credit card offers, there are ways to increase the number of advertisements you receive in the mail. If card offers aren't being received on a regular basis, check your credit score. There are actions one can take to improve upon their credit history and appeal to more lenders. If scores are low, one might consider signing up for a secured credit card and using it for a period of time. When lenders see that you have an active account that you stay current on, they are more likely to send you offers. In addition, the credit bureau operates a program where you can opt-out or opt-in to receive credit card advertisements. You may want to contact them for information about your current status.

Building good credit is important! Remember that a credit card offer does not necessarily mean that you will be granted credit. Envelopes stamped with the words “pre-approved” or “pre-qualified” only suggest that your address information was received from the bureau in a preliminary screening. Actual scores will be taken into close consideration before a line of credit can be granted.

Transferring Credit Card Balances

2010-08-30T12:14:00.000-07:00

With so many card issuers offering low introductory interest rates or zero percent APR, many consumers desire to transfer their existing balances to these new accounts. It can be a great way to save money and pay back loans sooner. Some even make this practice a habit and roll debt over onto new cards each year. However, before opening an account to transfer credit card balances, there are a few things you should be aware of.

First of all, credit card companies are in the business of making money. Therefore, it is important to read the fine print about balance transfers before taking any actions. Often, there is a catch pertaining to balance transfers. Some companies charge steep fees for debts that are brought over from another account. Charges may fall somewhere around $20-$30 per transfer. Plus, some credit card companies will assess a fee for every $100 of the balance being brought to your new line of credit from an existing one. Obviously, this is counter productive if you are trying to save money.

In addition, many credit card providers charge a higher interest rate on balance transfers than they do on newly acquired debts. If your introductory rate is 1.5% for the first year, the balance of transferred debt can be over 18%. These terms often go unadvertised. Then, by the time the consumer figures out what is going on, it is too late. However, by law this information must be provided to potential credit card customers and can be discovered in the details of any credit card offer.

If you have read all the fine print and still feel that opening a new account and transferring balances will be advantageous, the process is fairly easy. Either online or in paper form, there will be several boxes asking for some general information about your current lender and the amount of debt you wish to transfer. Once you fill out the form, the credit card company takes care of the rest for you. Transferring credit card balances can be a great way to save money, as long as you have researched all terms carefully.

0% APR Credit Cards

2010-08-03T08:58:00.000-07:00

Almost everywhere you look, someone is offering a 0% APR credit card. The credit card industry is saturated with issuers that strive to be competitive with the best deals. Credit cards with 0% financing are intended to solicit new customers. However, the banks who issue them are in the business to make a profit. The low interest rates that you see advertised may not be all that they seem. There are a few things to consider before opening a new line of credit with an introductory APR.

All 0% APR or extremely low APR offers apply to an introductory period only. According to the provisions of the Credit Card Accountability, Responsibility, and Disclosure Act that went into effect in February of 2010, introductory rates must last a minimum of six months and rates in general cannot spike within the first year. However, there are no restrictions on the amount of interest that can be charged after the introductory period is over. Also, when payments are consistently late, it may entitle the card issuer to raise rates at any time.

In addition, many people with existing lines of credit decide to take advantage of 0% financing in order to safe on interest payments by transferring balances from one card to the next. However, in the fine print of many credit card terms you may find expensive fees assessed for balance transfers. Sometimes there is even a fee for every $100 that comes from another line of credit. Transferring balances can cost more money than it can save if you are not familiar with your card's policies.

Before accepting any credit card offers, be sure to shop around. There will always be more than one company offering 0% financing. Some may have better terms and benefits than others. Also, read the terms you are agreeing to carefully and be wise about going into credit card debt. Often those introductory rates are over with before you know it. High interest charges can be difficult to repay, leaving many people in trouble after a short time.

Credit Card Interest

2010-06-02T09:15:00.000-07:00

Current statistics show the average America household to carry more than $16,000 in credit card debt. The average annual percentage rate on these cards is around 14.31 percent. More than 11% of people will fall into trouble with credit card debt and default on their accounts. The minumum payments on credit cards often consist of only 1% principle, with the rest being the monthly interest that was accumulated. Interest rates are the main way that credit card companies earn revenue. However, they are also the main reason some consumers find themselves in trouble.

Using credit cards responsibly means understanding the big picture where interest is concerned. After all, interest amounts can seem very ambiguous for those who don't understand how they work or those who are not able to calculate the math. In efforts to reform the way consumers view credit debt, the Credit Card Accountability, Responsibility, and Disclosure Act now requires card companies to provide extra information on your monthly statement. Statments not only have to tell you what you pay in interest for the month, but must also include how much interest you will pay over a period of time, if you only pay the minumum balance each month. This information clearly stated is quite shocking for many people who didn't realize the major expense associate with their credit card debt.

Credit card interest charges can apply to the average daily charges of your card, the adjusted balance at the end of your billing cycle, or the previous balance. Rates vary greatly from one issuer to the next. However, many cards start with an introductory offer that is often 5% or lower. Then, they can spike up to 29% or more after the first year. In addition, credit card companies are able to increase rates without warning on accounts with serious delinquencies. When you are losing money from paying montly interest on your card, it can make it difficult to experience any kind of financial growth or even to keep up on the minimum monthly payments. Before signing up for any line of credit, consider the actual cost of using that card.

Instant Credit Cards

2010-04-26T09:04:00.000-07:00

Many banks and issuers, including Visa, MasterCard, Discover, and American Express are now offering instant credit cards in ads that claim to provide instant credit approval. However, the speed of the services you receive with this kind of card do not vary much from that of any other card you may be offered. The truth of the matter is that these lenders use the word "instant" very indiscriminately in their ads.

Instant credit cards are commonly found on the internet. Applications for these cards are completed online and submitted for review. The main concern of the lender is that you are able to repay the line of credit if it is issued. Therefore, before they approve or deny your credit application, they consult with the credit bureaus to see your credit history. With today's technology, this process can be done very quickly. It may only take between 1 and 3 minutes before you get a response. However, it is not instant. Plus, you will still have to wait awhile before you are able to use an instant credit card. There are a few pre-paid credit cards that offer instant cash credit cards, however this is just allowing you to build credit while using your own money and not a line of credit.

If you are approved for an instant credit card, the card must first be made, mailed, received, and activated, before you can use it. It may take several days or even weeks before your line of credit is accessible. Therefore, calling the card "instant" is somewhat misleading.

Instant credit cards are advertised in a way that appeals to people who may have an urgent need for credit and think they will have immediate access to a new card. For this reason, you should be especially cautious of these ads, as they may aim to take advantage of consumers who are in a vulnerable state. However for the most part, these offers are the same as any other credit offer you may encounter. Before submitting an application, make sure you have shopped around and read the fine print.

Credit Card Offers by Mail

2010-04-19T08:58:00.000-07:00

Unsolicited mail flood the postage box daily. A large portion of it is credit card companies vying for your business. The words “0% APR” and “Pre-approved” appear on almost every envelope. While these offer may seem enticing, there are a few things to consider before jumping on board. Also, if the surplus of mail is causing you to spend more on garbage bags, there may be a way to find relief.

Credit cards have been called both beneficial and evil by financial advisors. Opinions seem to vary greatly on the subject. However, one sure bet it that using them irresponsibly will get you into trouble. Before signing up for any new account read the fine print. Many cards offer low APR on balance transfers, but fail to mention on the envelope that there is a flat fee of $20 for every $500 that you transfer from another card. Also, annual fees and the end of the 12 month introductory offer can sneak up on you rather quickly.

In addition, it is important to understand that a pre-approval does not necessarily mean that you will be issued a line of credit. In fact, all it means is that the credit card company was given your information based on some loose guidelines they gave to the credit bureau for a screening process. Some card issuing banks will even solicit those with poor credit scores, in efforts to promote high risk credit lines with outrageous fees and interest. Applying to every card offer that comes may ultimately hurt your credit score, as points are docked for each inquiry to the bureaus. Also, having numerous accounts is unnecessary and may appear negative to lenders.

It is a shame that so much paper is wasted printing all those credit card ads. However, if you wish to stop the forest from being cut down, you can do a couple of things about it. The credit bureaus offer the ability to opt out of the pre-screening process. Contact them by phone or mail for more information. Plus, every card offer should state in fine print the steps for accomplishing this task.

Some people choose to opt out of credit card offers for safety reasons. Removing your name from the mailing lists not only cuts back on temptation and the annoyance of excess garbage, it helps protect you from the growing crime of identity theft.

Applying for Credit Cards

2010-04-13T09:01:00.000-07:00

You wouldn’t apply for an auto or mortgage loan without shopping around first. Applying for a credit card should be no exception. In addition to carefully doing you research, there are a few things to consider before attempting to open a new account. Whether you search online, reply to a mail advertisement, or fill out a form in person, applying for a credit card is a process that requires some attention to detail.

The majority of all Americans have at least one major credit card. However many have two or three. Just because you are offered a credit card, doesn’t mean that you need to accept it. Before filling out an application, ask yourself a few important questions:
- Do you actually need the card?
- What are the advantages and disadvantages?
- How will another line of credit affect your credit score?
- Are you responsible enough to pay the bill on time each month?
- What will you use the card for?

In addition to being sensible and taking the time to contemplate the new line of credit, be sure to research the offer thoroughly. The proposed interest rates are traditionally introductory offers that end after a period of time, usually around 12 months. Many offer zero percent financing on balance transfers. However, upon reading the fine print, you may discover that there is a fee for each $100 that is transferred. Also, annual fees, late payment fees, and over the limit fees can add up rather quickly. Know the terms of your credit card and compare at least 3 or 4 good credit card offers before settling on your final choice. It’s not a bad idea to research some online reviews to help with your decision.

A credit card can be a great financial tool if used appropriately. They are beneficial for renting a car, shopping online, or sending flowers on your mother’s birthday. Plus, many of them offer valuable incentive programs that allow you to travel and earn cash back rewards. However, using credit cards appropriately is a big responsibility that must be taken seriously. Think twice before applying for any new line of credit.

Blocking Credit Card Offers

2010-04-05T09:00:00.000-07:00

Each day Americans retrieve mail from their boxes and sort through the stack, in efforts to separate items of importance from “junk” mail. Numerous credit card offers arrive whether you are looking for new accounts or not. The words “pre-approved” and “you've been accepted” are stamped across these envelopes, as you have probably met some sort of pre-screening requirement. However, they are no guarantee of credit. Plus, too many cards can even hurt your credit score. To block credit card offers and reduce both temptation and garbage waste, there a some actions you can take.

The Fair Credit Reporting Act of 1970 gives credit bureaus the ability to sell your credit history to credit card companies. Therefor, card issuers utilize this ability and cherry pick consumers they want to solicit for new accounts. In order to reduce the number of ads received, you can formally request that the credit bureaus stop including you on these pre-screened lists. In fine print, each credit offer will state information regarding how to go about this process. Be sure to include all 3 of the major credit bureaus when you take action.

Additionally, you can join the war against junk mail by taking those pre-paid reply envelopes, stuffing them with other junk mail, and placing them back in the box. The credit card companies will have to pay for that pre-paid postage and may find alternative methods of advertising if people do this enough. Then again, maybe not. However, it might make you feel better to know that the credit card company will be the one receiving the junk mail next time.

Blocking credit card advertisements not only prevents frustration, temptation, and paper waste, but can also protect you from identity theft. Card offers can be stolen and misused by others, resulting in a botched credit score. If you are genuinely uninterested in opening new lines of credit, you may want to send the word out.

Clark Howard View on Credit Cards

2010-03-23T08:43:00.000-07:00

Providing up to date information about the credit card industry, Clark Howard is a guru in finance. He counsels on alleviating credit card debt and protecting your credit score. Plus, working to educate the public about financial responsibility, he discusses the new credit laws, as well as some credit and credit repair scams that are beneficial to be aware of and understand. There are some dangerous mistakes that consumers often make in regards to their credit. However, Clark Howard aims to bring these problems to light and offer solutions.

Clark Howard admonishes the public about paying only the minimum balance on their credit card statements. Many of his articles about debt are eye opening, as he puts perspective on the expense of using credit cards unwisely. Additionally, Howard warns consumers about the credit limit cuts that are being made by lenders during our current recession. In October of 2009, he recommended that consumers begin to apply for new credit cards before their credit limits are reduced without warning. Plus, Howard advises consumers to be mindful of their credit when making financial decisions. Recently, he explained how instant in-store credit can demolish your credit rating and how closing credit card accounts too early can actually damage your score.

New credit card laws have been explained in understandable terms by Howard. He breaks down the basics by clearly stating the following facts.
Banks must give a 45 day notice before raising interest rates on future purchases.
Interest rates cannot raise on existing accounts unless the consumer is more than 60 days late.
Statements must indicate the number of years it will take to pay off the account, if you only pay the minimum.
Annual fees must be capped at 25% of your credit limit.
Payments on accounts with multiple balances will apply to the balance of the highest interest rate first.
Introductory offers on credit cards must be honored for at least 1 year.
2 cycle billing will no longer be allowed.

Additionally, Howard warns consumers about credit issuers that they should avoid. He believes ditching the big 5 credit card companies for smaller ones may be more advantageous right now. “With all the new credit card rules now squeezing their profit margins, you can expect they'll be experimenting with every new gouge fee possible,” he said in February of 2010. Plus, numerous times Howard has warned about some unethical practices of debt repair programs, admonishing consumers to be cautious. Overall, his advise seems practical, educational, and helpful.

Canceling Your Credit Cards

2010-03-17T08:14:00.000-07:00

With all the credit offers that are difficult to resist, you may find yourself in a situation where you have too much credit extended. Canceling cards can help to reduce credit card debt and may seem to be helpful to your credit score. However, sometimes the opposite is true. Before you proceed to cancel credit cards, there are a few things you should consider.

In today's economy, credit card companies are reducing limits right and left. Before canceling any credit lines, make sure you have a sufficient savings to hold you over in the event of an emergency. Otherwise, you may cancel cards and then find that the credit is not there when you need it.

Additionally, your credit score may be impacted negatively by canceling credit cards. While it is true that too much credit can appear negative on a report, it is also true that too little can. Part of your credit score is a reflection of the amount of credit you use compared to the amount that is available. If you cancel all cards, with the exception of a few that carry high balances or are maxed out, you may actually be hurting your credit score.

Do not attempt to cancel any credit card, while you are still carrying a balance on that account. Although it may seem like you are doing your part to avoid further debt, many cards have penalties for early cancellation. Interest rates may spike if you cancel while your account is still active.

If you have taken all warnings into consideration and still feel it is in your best interest to cancel your credit card account, call your lender. However, card issuers often offer superior incentive programs at the time that you attempt to cancel your account. Sometimes they will do whatever they can to keep your business, so listen to the offer before making a final decision.

Finally, ask your credit issuer to report to the credit bureau that the account was closed at the consumer's request. This should automatically be taken care of in this manner. However, it never hurts to ask. If your credit report shows an account as “closed by creditor,” instead of by you, it may have a negative impact on your score.

New Credit Card Law Changes

2010-03-08T07:15:00.000-08:00

Recent legislature signed by President Obama provides some protection for consumers who carry credit card balances. The Credit Card Accountability, Responsibility, and Disclosure Act, also known as the Credit CARD Act of 2009 provides certain provisions that end some of the flagrant practices of card issuers. It improves consumer disclosures and caps interest rates and fees that are getting Americans into deeper debt.

Major benefits of the Credit CARD act of 2009 include more advanced notices on rate hikes. Card issuers must now provide a 45 day notice as opposed to the previous 15 day heads up. Plus, consumers are being given more time to pay their balances, as card companies must now send statements a minimum of 21 days before the payment is due. The Credit CARD Act additionally puts an end to double cycle billing and stipulates that all above-the-minimum payments will first be applied to the card balance with the highest interest rate. Overall, it prevents the credit card companies from taking every advantage in their favor.

New interest rate provisions restrict when and how a card issues can spike an interest rate. They make it illegal for a credit card company to bump up a rate due to late payments of less than 60 days. Plus, set a general rule against rates being increased within the first 12 months of card issuance, unless previously stated as part of the introductory offer. Another part of this legislature that will largely benefit consumers is the fee restrictions that clearly state that no over the limit fees can be charged by a credit card company, unless the consumer has elected to have the creditor approve over the limit transactions. In this case, no more than one fee can be charged per billing cycle.

Additionally, the Credit CARD Act of 2009 restricts card issuance to students. It prohibits the approval of anyone under the age of 21, without an independent means of income or a co-signer. Plus, the act offers some protection on gift cards, prohibiting their early expiration's and providing some restrictions against egregious usage fees and inactivity fees. All together, this new legislature is designed to keep credit issuers who take advantage at bay, while offering some relief to those who struggle with debt in today's challenging economy.

Credit Monitoring Services

2010-02-24T07:00:00.000-08:00

Credit monitoring services are companies that continually watch over your credit report, and promptly notify you of any changes that may affect your score. Banks, credit card companies, credit reporting agencies, and third party companies can all be providers of credit monitoring services. They can monitor any range of items on your credit report, from changes to your personal information, such as address or employers, to changes in your credit history, such as negative marks, new accounts, closed accounts, and credit inquiries.

In this world where identity theft is the number one growing crime, many people turn to credit monitoring services in order to be alerted to any unauthorized activity. If you do have your identity stolen, quick awareness to the fact is critical. Any negative marks on you credit report can dramatically effect your score. Plus, the longer it goes undisputed, the more it appears “real” in the eyes of the credit reporting agencies. Also, occasionally credit issuers make mistakes when reporting to the credit bureaus, that could do harm to your credit score. Rapid notification and repair of these issues will ensure you keep your good name in the world of lending.

On the downside, credit monitoring companies can be expensive. In fact, many of them are grossly overpriced. Some companies only monitor one bureau for your credit changes and charge substantially more than what it would cost you to pull your own report. In addition, they offer little in terms of fraud protection. By the time a negative mark has been made on your credit, the damage has already been done. However, some monitoring services do offer the additional service of identity fraud resolution.

Overall, credit monitoring services can be an added convenience to your life. They aid in early fraud detection and assure that you will obtain a regular report about your current activity. However, these companies can be costly and do not perform any services that you are not capable of doing yourself.

Dave Ramsey View on Credit Cards

2010-02-18T07:42:00.000-08:00

With a very conservative view on personal finance, Dave Ramsey insists that there are no benefits to using a credit card. Popular belief by consumers is that when used correctly, you can benefit from the cash back and incentive programs that are offered by credit card companies. After all, shouldn't it be as simple as paying off your balance each month? However, according to Dave Ramsey, you cannot beat credit card companies. People who use credit cards will spend more than those who do not.

While the average American family carries approximately $8,000 in credit card debt, it is seemingly obvious that people are purchasing items they cannot afford. However, Dave Ramsey states that credit cards are even effecting the way that responsible individuals are spending. He references a study used at a McDonald's restaurant, which found that people spent 47% more when using a credit card instead of spending cash. “Using a credit card registers nothing emotionally,” he says. On the other hand, people are far more inclined to be reluctant to spend their hard earned cash. Additionally, he encourages parents to admonish their teens about credit card use, as they are highly targeted by the credit card industries.

Dave Ramsey has been on Fox Business, hosted his own radio show, has a newspaper column, and is author of a best selling book on financial counseling. He offers advise on getting out of consumer debt, while warning people about consolidation loans and other commonly used methods of debt resolution. Although, Ramsey has many critics who claim that it is of value for consumers to have credit cards, you can't ignore the fact that there are many people struggling with debt who only wish they had taken his advise.

Unsecured Credit Cards

2010-02-11T08:15:00.000-08:00

Simply put, an unsecured credit card is a card that offers a line of credit which has not been secured by a monetary deposit. When the term unsecured is used to describe a credit card, it is generally for the purpose of appealing to individuals with bad credit who have become accustomed to the term secured credit card.

Unsecured credit cards help someone with a poor credit score obtain a genuine line of credit. Although these types of accounts are sometimes used incorrectly, they are intended to help individuals rebuild their credit score and once again have the convenience of purchasing items with plastic. However, due to the fact that unsecured credit cards are typically issued to high risk consumers, they often have account terms that are less favorable, with steep fees and high interest rates. Consumers who are in the market for an unsecured credit card should be aware that some of the issuing banks may be taking full advantage of their compromised situation.

Before applying for an unsecured credit card, be sure that you are aware of all the fees and terms you are applying for. Unsecured credit lines are traditionally really small lines of credit, sometimes less than a few hundred dollars. Therefore, if you are enrolling in a program that has numerous fees, you may find that your entire credit line had been used, before you even make a purchase.

Those with poor credit scores can expect to pay more for a credit line. However, this is an area where it really pays to shop around. Search online for the best unsecured card offer and read the recent reviews and card comparisons. This way you will know which company can offer you the best deal for your money. Overtime unsecured credit cards can help you re-establish good credit, however, it is important to select the right ones and use them responsibly.

Suze Orman View on Credit Cards

2010-02-04T07:56:00.000-08:00

Suze Orman has some fresh ideas on credit cards, credit card debt, and personal finance that are customized to today's troubled economy. She encourages adopting a new strategy, while the credit industry is currently taking action to reduce many open credit lines and close some open accounts all together. Where would you be without credit if you were to lose your job? Suze Orman says that at this point, instead of paying off your balances as fast as you are able to, it is wise to pay the bare minimum on credit accounts, and throw everything you can into savings, for a rainy day.

Suze Orman's new approach on credit card debt is quite different than her original advice, which was to “cut up credit cards” in a state of troubling debt, and pay them off as soon as possible, starting with the card that accumulates the most interest. However, Orman still believes that a credit score is important and keeping card balances down will help your score. She just recognizes that few people are in a condition to dump everything they have into debt repayment at this time, unless there is an abundant emergency fund to fall back on during a crisis. “Getting out of debt isn't always the most important thing,” she says. Then, goes on to explain that the credit card companies are taking action to protect themselves with no regards to anyone else's needs.

As a well known financial advising expert, Suze Orman has written several books, been on the news, radio, and talk shows. Plus, Orman even has her own TV show on CNBC. While some critics complain that Orman's advice is too general, and does not include step-by-step instructions for personal financial matters, many others will likely take heed to her recent instructions and change their course of action. In general, she now follows the timeless approach of “preparing for the worst, while hoping for the best.”

Small Business Credit Cards

2010-01-28T09:14:00.000-08:00

Credit cards account for the largest single source of financing being used by small businesses today. However, when credit card companies are reducing their limits and and changing their terms, it leaves people wondering how these businesses will be affected. A 2009 survey by the NSBA shows that as many as thirty three percent of small business card owners have recently had their credit lines decrease. Plus, while congress has spent a great deal of time working on credit card reform, small business credit cards have been neglected.

Some small business owners are having to do substantial research in order to find a card issuer who can provide the kind of lending that they need. Many people turn to online companies such as 100best-credit-cards or others who provide helpful reviews on small business credit card offers. These review companies give quick comparisons on features such as cash back reward programs, interest rates, annual fees, security, and interest rates. However, it can be difficult to know which card issuer will provide the largest lines of credit. Only 16% of small business owner state that their largest credit limit is more than 50,000, while the majority of card owners have limits between 10,000-29,000.

According to NSBA's most recent survey results, 79% of small business card holders have notices that the terms on their accounts have gotten worse. 63% of them report that their interest rates have increased, while 23% say that they have been switched from a fixed rate to a variable interest rate. Only 40% of business owners are paying off their credit card each month, while the rest are carrying a balance, some at a steep price. Meanwhile, there is little being done to protect them. When shopping for a small business card, be sure to do your research and read the fine print of all offers. Also, it is important to acknowledge any notices you receive regarding changes to the terms of your existing accounts.

How Foreclosure Affects Your Credit Cards

2010-01-22T07:14:00.000-08:00

In todays troubled economy, home and business foreclosures have become common topics for discussion. Many are left with questions about how foreclosure might affect their credit and future spending abilities. The majority of people realize that a history of a foreclosure will make it difficult to get another home loan, purchase and automobile, or open any type of new credit line. However, some don't realize that a foreclosure may affect the credit cards that they already have.

Foreclosure will instantaneously affect your credit score. Many banks who issue credit cards periodically check your credit scores even after your credit line has already been approved. When the banks see that your score has been affected by a foreclosure, they become nervous about the credit line they have extended to you. The terms and agreements that you signed for with each credit card will often give you an idea of what you can expect at this time.

There are several things that may happen to your credit cards following a foreclosure. One possibility is that the bank who issued your credit card may cancel the line of credit all together. Even if your credit cards are in good standing and have been for years, the card issuer may be well within their rights to revoke all charging privileges. Another possibility is that your creditor may drastically reduce your line of credit, seeing you as a high risk for non-repayment. In addition, you should know that you are at risk for having your interest rates increase, particularly if you have been late on any of your credit card payments during your financial strain. All of these actions may cause your credit score to further decline. Unfortunately, there is little you can do about any of it, once the foreclosure has taken place.

Equal Credit Opportunities

2010-01-04T09:23:00.000-08:00

Equal credit opportunity means that lenders and creditors are required to make credit equally available to consumers, without discrimination based on race, color, religion, national origin, sex, marital status, age, or because you receive public assistance. The equal Credit Opportunity Act was established in 1974, protecting consumers from being treated unfairly. It is a United States law that applies to anyone in the lending industry who regularly accepts applications and makes credit decisions, including banks, credit unions, retailers, and other finance companies. It is important to know your rights when it comes to equal credit opportunity and report any creditor who is not in compliance with this act.

If you are applying for a line of credit, there are several things you should be aware of. The Equal Credit Opportunity Act goes beyond simply telling lenders not to discriminate and enforces policies about what information the creditor is allowed to ask you.

A credit application should never ask if you are widowed or divorced. The only appropriate terms they can use are married, unmarried, or separated.
If you are applying for a separate, unsecured account, the creditor cannot ask about your marital status unless you are applying for a loan in a common property state.*
Creditors are not permitted to request information about your spouse unless:
-He/She will be on the loan or able to use the account.
-Your reported income is base on receiving alimony or child support.
-You live in a common property state.*
Creditors should not ask you about any future plans to have children. However, they can ask about expenses related to dependents.
Creditors are not permitted to inquire about child support or alimony, without first telling you that the information is not required. However, they are entitled to know if you pay the expense of alimony or child support.

If your lender has violated any of these regulations, or you feel as though you have been denied a fair lending opportunity based on your race, color, religion, national origin, sex, marital status, age, or because you receive public assistance, take action. Any discrimination should be reported to the appropriate government agency and you retain the right to sue the lender in the federal court.

* Common property states include Arizona, Idaho, Louisiana, New Mexico, Texas, Washington, and Wisconsin.

Fair Debt Collection Practices

2009-12-23T13:43:00.000-08:00

If you are behind on you bills, you may have debt collectors hounding you by phone, mail, and even at work. This can be stressful, embarrassing, and could cost you your job. Like most people, you would probably pay the bills, and get out of debt, if you could just get caught up. Fortunately, the nation's consumer protection agency enforces some regulations that define when bill collectors can call, what they can say to you, and how long they can pursue recovery of a bad debt.

When you owe money, you may be contacted by a debt collector who works for the lending company, a collection agency that works on behalf of the company, an attorney who regularly collects debts, or even a company that buys delinquent debts and then collects on them. However, it is illegal for more than one of these representatives to attempt to collect from you at the same time. The Fair Debt Collection Practices Act forbids bill collectors to use abusive, deceptive, or unfair practices to collect a bad debt. However, this act refers mostly to personal debts such as a mortgage, auto loan, credit cards, or medical bills. It does not offer the same protection for debts that were incurred to run a business.

It is always best to try to resolve debt problems responsibly, but that does not mean you have to put up with bill collectors harrassing you. There are also limitations to the time periods during which a bill collector can contact you. Anytime before 8 o'clock in the morning or after 9 o'clock at night are considered to be times of inconvenience. Bill collectors are not permitted to call during times of inconvenience unless you have expressed approval for them to reach you during that period. Also, once you have told them either orally or on paper that your work does not allow for you to receive calls, they are prohibited from contacting you there again. For information regarding the limit of time they are allowed to make collection attempts, check with your individual state.

If you feel that you have been the victim of unfair debt collecting, you have one year from the time of the violation that you can sue the company is either state or federal court. To report unfair credit practices, contact your state's Attorney General's office. If it is an out of state collection company, you may report the problem to the Federal Trade Commission.

Visa Card vs. Discover Cards

2009-12-15T10:40:00.000-08:00

In this review of both Visa Card and Discover Cards we will take a look at some specifics and history of each company as well as some basic things to look for anytime you are considering applying for a new credit or debit card.

Discover card was first started in 1985 by Sears. Discover card made a strong appearance into the financial market with higher credit limits, excellent reward programs, and Discover was one of the only card issuers to have no annual fee. Early on Discover was seen as a US credit card and for a long time had limited acceptance because merchants felt they were helping the competition, Sears, when they accepted Discover cards. However, in 2007 Discover Financial Services became its own company. Discover is now nearly as widely accepted as Visa, MasterCard, and American Express in the Americas but still lags behind in the global markets.

Visa card has an advantage because it was the first major credit card and gained huge popularity early on. Because it is so well known and widely accepted, many people choose to use Visa because they feel like it is a stable, secure choice. They know that it will be accepted virtually anywhere and are pretty familiar with what to expect from the company. If you want a card with no worries about where it will be accepted, Visa is a top choice.

Ultimately, when choosing a credit or debit card you will have to look at the individual offers that are available to you and see what will best meet your needs. Some things to compare and contrast with any card includes:

Interest Rate
Credit Line
Usability
Annual Fees
Other Frees
Reward Programs

Look for the card that is going to be accepted where you shop, that has the kind of rewards program you will benefit from, offers you the best interest rate (low APR), and will provide you with a credit line that will meet your needs.

Secured Credit Cards

2009-12-04T09:52:00.000-08:00

If you have bankruptcy on your credit report or a low credit score, you may find it nearly impossible to get anyone to lend you money. However, credit cards are a convenient way to make purchases and almost necessary for renting a car, buying a plane ticket, sending flowers, or shopping online. Plus, in order to qualify for a home loan or a low interest auto loan, it is important to have good credit. So, if you have struggled to get a line of credit or would like to rebuild your credit, you may want to obtain a secured credit card.

Secured credit cards are just as they sound, a line of credit secured by a deposit. Usually you will pay an upfront amount, somewhere in the range of $300 or $500 for a credit line in a similar amount. In addition, there is almost always an annual fee and may even be an application fee. Some people have gotten secured credit cards and found that their entire credit limit has been consumed in fees before they have even used the card. Plus, secured credit cards are known for having high interest rates.

On the other hand, if you shop around, there are some secured or prepaid credit cards that are better than others. Also, these credit lines work to rebuild your credit by giving you the opportunity to prove that you can be a trusted to pay back a loan. It is recommended that you do not carry credit, but pay your full balance each month in a timely manner. After a period of time, the secured card’s issuing bank will often increase your credit line or allow you to spend a percentage above the deposited amount. Your credit report will reflect your responsible use of the new account and soon unsecured,or “regular” credit offers will become available. Although expensive, secured credit cards can be a valuable asset if they are used correctly.

Business Travel Credit Cards

2009-11-25T08:02:00.000-08:00

No one should travel without a credit card. When purchasing an airline ticket, renting a car, paying for gas, or checking into a hotel, using a credit card is the most common form of payment. Credit cards offer some protection to the consumer and prevent them form having to carry large amount of cash. In addition, credit cards offer perks and benefits that can be particularly useful to a person who does a lot of traveling. Business travel credit cards are widely used, as they provide great benefits for travel and cash back on travel expenses. However, there are many banks that issue business travel credit cards. Therefore, it is important to know what benefits are available when shopping for a travel credit card that meets your needs.

One of the most basic features that you should find in all good travel credit card offers is travel insurance, and/or car rental insurance. If you or an associate rents cars for business travel, using a travel credit card is a smart decision. No-cost collision coverage for cars rented on the card is likely one of the largest money saving benefits that is available. The value of this benefit can easily be worth up to $25 a day. Of course, you must first use whatever other insurance that you have, but then the card should pick up the difference in the event of an accident. However, be aware that some card companies do not cover rentals cars in foreign countries.

When traveling internationally, foreign exchange costs can gouge your business. The best way to keep these costs to a minimum is by using plastic. Travel credit cards come equipped with built in exchange functions, in both billed accounts and cash withdrawals. This saves you from hassling with foreign currency or cash exchange. You should be familiar with the international charge terms of your credit card company though, as many of them attach exchange fees for overseas purchases.

Other perks that are issued by travel credit card companies include discounts on hotel stays and dining, cash back on gas and other travel related purchases, and even discounts in the form of credit in airline frequent flyer programs. These benefits can really add up and save a business up to 20% in travel expenses. However, in order to take full advantage of your card's features, you must read the fine print and locate companies who participate in your rewards network. Also, remember to read the terms that apply to collecting your entitled benefits, as many card benefits expire after an allotted period of time.

Credit Card Disputes

2009-11-19T08:28:00.000-08:00

Credit cards are advantageous for many reasons. One of them being the protection that they offer to the consumer. In this world that we live in, things don't always happen like they are supposed to. One may purchase an item on the internet that they never receive, be overcharged for an item, or just find that the purchased product does not work like it is supposed to. Fortunately, if the merchant does not cooperate to fix the problem, the credit card company may work for you to stop the payment and protect you from becoming a victim. Whether a charge is unjust or erroneous, it is important to communicate with your credit card company and dispute items as needed. There is a proper way to handle credit card disputes to ensure that they are investigated and resolved.

In accordance with the law, you must first try to settle all disputes directly with the merchant. Prior to asking a card issuer to stop a credit card payment, this should be the first step. If you are unfamiliar with the company who has presented you with a charge, you can often obtain their identity and contact information from your credit card company.

According to the Fair Credit Billing Act, you should not be held responsible for damaged merchandise or that of poor quality. However, in order to be protected under this act certain criteria must be met. The sale must have taken place in your home state or within 100 miles or your residence. Also, the purchase must be for more than $50. While this is the minimum requirement for protection under the Fair Credit Billing Act, many credit card companies investigate smaller claims and sales that occur over a greater distance. It is important to read the fine print outlining the terms of agreement with your card issuer prior to making a claim.

On the back of each credit card statement, there should be instructions on how to make a claim and dispute charges. Be sure to follow all instructions carefully and in a timely manner. Many card companies do not allow you to dispute a charge after a certain allotment of time. Be sure to check your statements for accuracy as soon as you receive them. Also, it is important to follow up with the credit card company and give them any additional information they may request. Be patient as the dispute process takes time and the issue may not be resolved before your next statement arrives.

High Risk Credit Cards

2009-11-12T10:04:00.000-08:00

Following bankruptcy or foreclosure, most consumers know that their credit options are limited. They also realize that re-establishing credit is important if you ever want to qualify for any kind of low interest auto loan or mortgage in the future. For this reason and others consumers are often in a hurry to start over and rebuild their credit scores with the first opportunity that arises. This sense of urgency can be dangerous. Although there are companies that accept high risk credit applicants and grant them a chance at a new beginning, there are both pros and cons to using high risk credit cards.

If you desire to repair seriously damaged credit, you should be aware that it is going to cost you. Usually high risk credit lines are very small, often around only $250. This may not sound like a bad deal, since many people are just excited about a new beginning. However, high risk lenders will generally charge one or several fees. These may include a set-up fee, a program fee, an annual fee,and a user fee in addition to an extremely high interest rate. It isn't usual for a high risk borrower to find that they have used more than 70% of their $250 credit limit in fees alone. Taking on debt in this form and getting nothing in return is not a wise choice for someone who is struggling to regain order in their financial life.

On the other hand, it's important that you do not get discouraged. Credit that has been destroyed can be re-established. Find the best credit repair that will work for you. High risk credit cards can work for you if they are used carefully. First of all, you don't want a bad credit card so shop around for the best deal and read the fine print. You can expect that most high risk cards will have at least one associated fee. However, lenders often take advantage of high risk consumers so make sure that you know exactly what you are getting into. If you are prepared to pay the credit card fees prior to opening the account, you will be better off. Also, remember that individuals with great credit scores only use about 17.5% of their total credit limit on average. Try to keep your balance within this range for optimal results.

High risk credit cards can either work for you or against you depending on how well you use them. Be careful to do your research and select an offer that seems reasonable when you are attempting to rebuild or repair credit. Also, be patient. It takes time and dedication to restore your good name in the world of lending.

USING CREDIT CARDS WISELY

2009-10-30T10:02:00.000-07:00

Credit cards offer many benefits. They are convenient and prevent one from having to carry a large amount of cash. They provide a record of purchase and some protection to the card owner, as they are much safer than using debit cards. A credit card is a valuable asset for purchasing airline tickets, renting a car, or sending flowers on Mother's Day. Some credit cards have perks that one can benefit from such as sky miles or cash back rewards. Owning a credit card is part of life today. However, it is important to be responsible when purchasing things on credit. Using a credit card wisely is the key to preventing unnecessary debt and financial stress.

The best way to use a credit card wisely is to firmly commit to paying the full balance each month and stick to that commitment. Under this circumstance, a person will benefit from a credit card company, instead of the credit card company benefiting from the person. In order to accomplish this task, it is important to avoid spending money that is not already in the bank. Spending money that you plan to have later will always get a person into trouble. Life happens and one often finds that “later” the money is not there either. Plus, paying the minimum balance of a credit card bill means that it will take forever to pay off that loan. Interest charges accumulate and before a person even realizes it, they have purchased an item on credit and paid for it three times over.

Credit cards must never be viewed as free money. To own a credit card is a privileged of convenience, not one of freedom. An individual should hold themselves accountable for everything purchased on credit. It is not recommended to purchase everyday items on a card unless you already have the money and are just using the card as a convenience. Any other time, one should stop and ask him/her self if the item for sale is a want or a need. Using your credit card to purchase things that you cannot afford, or living a “borrowed lifestyle,” is a road to disaster. Using a credit card responsibly requires exercising self-control. An individual who shops impulsively would be better off not owning a credit card.

Most importantly, using credit cards wisely requires some organization. One should always know when payments are due, the size of the line of credit, and the interest rate. Late fees, over the credit limit fees, and high interest charges can be steep and can drag a person further into debt. Also, it is not recommended to open multiple lines of credit unless it is for the purpose of separating business expenses from personal expenses. When using a credit card responsibly, one can benefit from the great conveniences and perks that are offered by card companies, and avoid financial trouble.

What Gets Reported to the Credit Bureaus?

2009-10-19T13:11:00.000-07:00

Credit bureaus collect information from credit card companies, department stores, government agencies, mortgage companies, automobile lenders, debt collection agencies, the courts, and any one who lends you money. They use the information that they collect to sell to others who are inquiring about your stability and credibility as a person. It is interesting to find out just how much information, both personal and financial, that the credit bureaus possess about you.

Personal information that is reported to the credit bureau includes your social security number, your name any alias names that you have used, your birthday, your current address and previous addresses, information about your employment history, home ownership, income, and often your spouses name and information too.

Financial information that is reported to your credit includes bankruptcies, foreclosures, monetary judgments, outstanding liens, credit card accounts, any other type of credit line, credit limits, and the amount of credit that is presently being used. In addition, credit bureaus are given information about your payment history, so the bureaus can show if you have paid on time or give a break down of how many days late your payments were. Any other information relative to payment history is reported, such as referrals to a collection agency or charge offs made for bad debts. They also report if you have been sued.

Credit Bureaus track the information that is given to them in a file for each person. They also keep track of how many times that a person's credit is checked and who has requested the information. Too many credit inquiries can be damaging to a credit score.

Information that is reported to the credit bureau is not always accurate. Also, identity theft is a growing crime in the United States and can cause your good name to be destroyed. For these reasons, it is important to periodically check your credit report and dispute anything that is not legitimate. By law, the credit bureaus have to provide you with one free credit report each year.

Reviews of Credit Bureaus

2009-10-14T13:53:00.000-07:00

Experian
Experian is one of the three major credit reporting bureaus in the United States. Founded in 1980, they work globally, operating in over 30 countries. One thing that is unique about Experian is that they often offer reports from all three bureaus for an extra charge. In addition, they offer a vehicle history report for anyone who is thinking about purchasing a vehicle and wondering what it has been through and a business snap shot, that can give an overall review of how a business is doing.

Transunion
Transunion is also one of the three major credit bureaus in the United States. They have been leading the way with technological advances, being the first credit bureau to provide an online database of information that could be accessed through the internet. They also have a program that can generate an updated report and send you alerts whenever something on your report has changed. In addition, Transunion offers credit counseling with a variety of educational tools that can help you to manage your credit.

Equifax
Of the three major credit bureaus in the United States, Equifax has been around the longest, having been established in 1899. However, not only have they gained popularity in the United States, but Equifax is one of the most well-established and trusted credit bureaus in the world. Equifax provides credit counseling, business services, and the tools that are needed to prevent identity theft and fraud. They also offer a credit ranking system to show you how your credit compares with others in your same country. By law, each of the bureaus is required to provide you with one free credit report on an annual basis. It is important to check your credit regularly to insure accuracy and fight against identity theft. Make sure that you check with all three bureaus because things are sometimes reported to one bureau, but not the others.

Credit Cards, a Good Idea?

2009-10-05T15:33:00.000-07:00

Credit cards are an important part of the world that we live in. If you want to buy an airline ticket, rent a car, send flowers to your mom on Mother's Day, or order something from the internet, it is more convenient to do it with a credit card. However, according to the Experian marketing insight snapshot, March 2009, the average balance per open credit card was $1,157 at the end of 2008. This is a growth of nearly 11% in less than 2 years. Many American struggle with credit card debt as the average household carries some $8,000 on credit cards. The big question remains. Is it a good idea to have credit cards?

First of all, no one can blame a piece of plastic for all of their problems. It is not the card, but the misuse of the card that creates problems. Credit cards are convenient. They offer some protection and a sense of security. One knows that if they do not receive a purchase that was made on credit, many card issuers will reverse charges and protect them from fraud. They are also safer to use than a debit card, because they allow you to keep your bank information private and offer insurance for problems like identity theft. In addition, credit cards can often work for you, providing benefits and services. Cash back bonus rewards, airline miles, and gas discounts are just a few of the benefits that you can obtain by using a credit card.

On the other hand, benefits offered by credit card companies are not worth it, if you are having to pay interest on unpaid balances. Credit cards can create a world of trouble if they are used improperly. Interest rates mean that you are paying a lot more for something than if you had bought it with cash. Plus, if you were to find yourself in a lot of debt or unable to make a credit card payment, late fees and over the credit limit fees are steep. They can really pile up, making it even harder to pay back the loan in the future.

Overall, credit cards can be very beneficial. They offer convenience, protection, and benefits. However, in order to truly benefit from a card, you have to be careful about how you use it. Impulse buyers or compulsive shoppers would be better off not owning a credit card. Although, if you can exercise self control and act responsibly, credit cards can work for you, making your life easier.

Pre-Approved Credit Cards

2009-09-30T07:54:00.000-07:00

Everyone gets them. You know, those sealed envelopes in the mail that have a written message such as, “Congratulations. You have been pre-approved.” A “pre-approved” credit offer does not necessarily mean that you will automatically be given a line of credit. Although banks try to target consumers who are likely to respond to their advertisements and qualify for credit, the only thing you have really been pre-approved for is their mailing list. Rate responses from direct mail tend to be only 3% or less. Most people take those offers and conveniently file them in a place like the garbage can.

The card issuer may obtain a list from a marketing company with your name on it. Often, they present that list to a credit bureau such as Equifax, Transunion, or Experian, with a set of minimum standards. The credit bureau sorts through the list and reports back to the card issuer, telling them who meets the qualifications. Some card issuers will actually try to find consumers with moderately damaged credit, so they can charge them a higher interest rate. Everyone who passes the relaxed screening process is sent an offer in the mail that is stamped “pre-approved.” Some consumers who respond to the advertisement, come to find that they do not qualify for the credit line after undergoing a more scrutinizing application. In addition, those who are approved might not qualify for the low interest rate that is being offered.

Each time your credit is checked to filter for a pre-approval advertisement, you can see the request on your credit report. It is generally listed as “promotional,” but will have no impact on your FICO score, Some inquiries will reduce your FICO score by several points, but the inquiry was not initiated by you, so, it will have no effect.

Many people get tired of having to throw these pre-approved advertisements away. They are not interested in opening any more credit accounts and value their privacy. If you do not wish to receive these pre-approved credit offers, you can call 1 (888)567-8688 and request that the credit bureaus not include you in any pre-approval screenings.

Tips For Reducing Credit Card Debt

2009-09-23T09:53:00.000-07:00

Credit card debt is unfortunate, but it happens. Credit cards carry a balance for awhile, interest hits, and before you know it, you are in debt and trying to dig yourself out of the hole. Don't get too discouraged because there are ways to reduce that debt and get back on track. Although it is easier to get into debt than to get out of it, there are some simple steps that you can take to regain control of your finances.

First of all, the most important aspect in eliminating debt is to stop spending money unnecessarily. Deep down, we can all find some self control when it is important enough, so make it important. Set goals, cut back on luxuries, and exercise caution when spending. There are wants and there are needs. It is up to you to differentiate between the two. One only has the ability to pay off old debt if they are presently living within their means.

Though it may be difficult to look the situation in the face, take stock of your bills. Know exactly how much you owe and what you are paying for interest on each account. Your total debt service, including your mortgage payment and all other payments should not exceed 36% of your gross monthly income. For many people, this means some changes will need to take place. Millions of households are in too much debt. However, once you have a handle on your situation, you can start to do something about it.

Many people choose to consolidate their debt into one monthly payment. Installment loans force a person to pay a higher principle amount each month and set a date by which the loan will be paid back. This can eliminate some high interest charges from credit card companies and cut back on the number of bills that have to be paid monthly. However, often an origination fee is applied to the loan, so do the math and make sure it will actually be worth it in your situation.
Pay off your smaller accounts first. Then the money that you were using to make those payments can be applied to larger accounts. Often people focus on the accounts with higher interest rates, but it is just easier to eliminate accounts one at a time. However, be sure to at least make the minimum monthly payments on your other accounts. Also, if it is an option, transfer existing debt to a new credit card with a low introductory offer. Although, you should be aware of transfer fees that may apply.

If you find yourself in serious trouble, get help. Credit card companies are usually able to work with you or with an third party agency to help you avoid bankruptcy and get back on track. However, be aware that an account closed by the creditor leaves a bad impression on your credit score. It is important to do what you can before enlisting in a debt resolution program.
Getting out of debt means that money being used to pay old bills can become money saved for the future. Planning for hard times and emergencies can protect you from acquiring more debt in the future.

Too Many Credit Cards

2009-09-22T08:07:00.000-07:00

The average American household carries almost 8 credit cards and around $8,000 in credit card debt. 1 in 7 Americans have 10 credit cards and the average card balance is just over $1,100. These statistics are highly alarming and make you question the reason why. However, it seems like every card offers something different. Some give you cash back, while others provide you with 10% off of a purchase at a department store. There are reward credit cards that give you discounts at the gas pump and others that earn you airline miles. Plus, everywhere you look, there are card offers with 0% financing or low interest rates. With all the advertised benefits and introductory specials, it is no wonder that people feel like they need more than one credit card. This raises the big question. How many credit cards should a person really have?

Many people are afraid to have too many credit cards. They worry that with credit card bills coming at them from every direction, they will not be able to stay organized and miss payments. Also, having multiple credit cards makes it easy to spread your debt around and lose track of how much money you are actually owing. Another downfall of having too many open credit accounts is that is can be damaging to your credit score. Creditors who see that you have multiple accounts will be less likely to lend you money, because they may fear that you are more likely to fall into bad debt. Plus, if your wallet is stolen with multiple credit cards, it is more of a hassle to repair the damages of identity theft.

It seems that carrying a large number of credit cards is a bad idea, However, there is no magic number that tell us what the appropriate number of credit cards should be. It is just advised to never have more credit cards than you can manage. Also, if you are just starting out with credit or rebuilding or repairing credit, one credit card is enough. You must first learn to successfully manage one credit card before owning multiple. Some experts suggest that is is a good idea for a person to have an emergency credit card, aside from the one that they keep in their wallet. Storing an emergency credit card in a safety deposit box with zero balance will give you access to funds in the event that your wallet gets stolen.

Credit card debt can be a slippery slope to disaster. It is important to be responsible with all credit cards and avoid carrying a balance when ever possible. No matter how many cards you own, always keep track of the amount of credit, you can a free credit report once a year through the credit bureaus, that you are using and be sure to make payments on time. Credit cards can be a useful tool, but only when they are used responsibly.

Credit Bureaus

2009-09-14T14:49:00.000-07:00

Credit bureaus are credit reporting agencies that track consumer's habits about paying back money that is borrowed. They provide the information that is collected to anyone who wants to reference your credit history such as banks, mortgage companies, employers, prospective landlords, etc. Credit bureaus obtain the information that they store and release by receiving reports from credit card companies, department stores, government agencies any almost anywhere else that lends money.

There are both private and public credit bureaus, but three major credit reporting agencies exist. They are Experian, Trans Union, and Equifax. They report information such as where one is employed and has been employed in the past, whether or not they are paying their bills on time, their place of residence and previous places of residence, if they have ever been arrested, sued, have tax liens, monetary judgments, or have had to file for bankruptcy. Credit reports show one's social security number, any aliases that they have used, and sometimes include personal and credit information about one's spouse. They also include information about how often someone's credit has been checked and who has checked it within the last 2 years.

Credit bureaus sum up a credit report by issuing a three digit score to each person's credit file. Credit scores are also referred to as FICO scores and can range anywhere for 300 to 850. However, most scores fall in the 600s and 700s. A higher credit score usually means that one will have an easier time obtaining credit. Credit scores are based on an analysis of several factors including payment history, the amount of outstanding debt, the length of a person's credit history, the pursuit of new credit and what type of credit is being used.

Credit bureaus often charge a fee to those who are inquiring about someone's credit. Their main function is to let anyone with a legitimate business need view one's credit history in order to make a judgment about their credibility and stability. Therefore, credit bureaus are important to everyone and maintaining a high credit score can be a valuable asset. It is important that every individual knows what their credit score is and checks with the bureaus periodically to ensure that they are reporting accurate information.

Get Out Of Debt

2009-09-09T10:50:00.000-07:00

In a recent survey of 100 Americans, 26% of them said that they considered their debt to be unmanageable. Most people couldn't tell you how long it would take to pay off credit cards by paying only the minimum payment each month. A new legislation just passed requiring credit card companies to start printing that amount of time on each statement. A lot of people are in for a surprise, but hopefully it will help Americans to be more responsible about getting out of debt. There are many ideas as to how to pull yourself out of the hole, but a few things are certain, you must be dedicated, structured, and smart about it.

The first step to getting out of debt is to stop spending money that you don't have. It has been said that the definition of insanity is repeating the same behavior and expecting a different outcome. If you want to be free from the burden debt, you must stop incurring it. Sometimes it is helpful to close open accounts or cut up or cancel credit cards. Start categorizing everything you want to buy as a “want” or a “need.” This should help to eliminate unnecessary spending and stop the insanity.

Most importantly,to get out of debt you must live within a budget. Few people find financial success without a structured plan. Regardless of your income level, it is important to know where your money is going. Make a realistic budget for every month and most importantly, stick with it. At the very least 10% of your income should be allocated for paying off previous debts. Some people may want to budget a greater amount depending on their debt to income ratio. Take some time to do the math and configure approximately how long it will take to get out of debt if you stick to your plan. It is important to set goals, both short term and long term, and find a cost efficient way to reward yourself for meeting those goals.

Consolidation is sometimes the best option. Consolidating debt means taking out a single bank loan, and incorporating multiple debts into one payment. Payments are made to a bank in installments, which means that you will be forced to make a larger payment each month and there is a definite deadline by which the debt will be paid. In addition, the bank will probably charge less than the credit card companies, saving you money in interest. However, be aware that banks often charge an origination fee for loans and/or a penalty for early repayment of the loan, so if you decide to go this route, be sure to shop around for the best deal.

Getting out of debt takes some time and patience, but it well worth it. Setting goals, budgeting accordingly, and changing your spending habits will put you well on your way to success.

Credit Repair Scams

2009-08-31T14:13:00.000-07:00

One can find themselves in a troubled situation with credit card debt. Missed payments fees, late payment fees, and over the limit fees can have a snowball effect on bad debt. Before one knows, their credit is in need of some repair. It is a tough economy right now and unfortunately, people looking for help with credit repair are finding that it is a tough world too.

Today, everywhere you look, you can see advertisements for credit repair services. Is it even possible for these companies to deliver what they say they can? They make promises of erasing bad debt, bankruptcies, charge offs, late payments that have been reported, and more. Credit repair companies claim to be able to do all of these things, but the truth of the matter is that only persistence, patience, repayment of bad debts, and sticking to a plan to pay all future payments on time, can repair and rebuild your credit. The first thing to understand is that it is important to be aware of credit repair companies who make these promises and act as though they have the capability of increasing your credit score overnight. They do not have this ability.

Another thing to be aware of is that credit repair companies are sometimes scamming you for personal information. They ask for information such as your social security number, your bank account information, and credit card accounts. Make sure that you do research on the company that you are dealing with before giving out any personal information. Some credit repair companies have been known to actually steal your identity, open new accounts under your name, and make a bad situation worse.

Be aware of any credit repair company that asks for a large amount of money up front. This is definitely a red flag. Remember, they can't produce immediate results. If you pay everything up front, you are leaving yourself vulnerable to losing a lot of money because often credit repair companies fail to deliver results.

Although, it is important to be aware of credit repair scams, there are some legitimate companies out there that really can help. There are no miracles to be spoken of and credit repair companies can't magically do anything that a you couldn't do on your own. However, legitimate credit repair companies will work to dispute your bad debts. It is a lengthy process though, and only works in conjunction with your personal efforts to improve your credit score.
For the most part, information on your credit report that is timely and accurate cannot be erased. So, it is important to be skeptical of all credit repair companies. Be especially weary of any credit repair company that does not inform you of your rights. They should also be willing to tell you what you can do for yourself for free. Credit scores can be repaired, but not without some hard work and patience.

Gas Credit Cards

2009-08-26T07:38:00.000-07:00

With prices at the pump going up, many people are turning to gas credit cards to save money. The average gas credit card offers a 3%-5% rebate on the total purchase. Generally, the rebate comes in the form of a check after a period of time. This is not a bad deal, when you consider how a whole year of gas really ads up. However, more than 60% of people who have a gas credit card carry a balance and the interest can be steep. Plus, often times the advertised offer isn't exactly what is seems.

When you get an offer for a gas credit card, it is important to read the fine print. Often the rebate that is being offered is an introductory deal. What starts as a 6% rebate on gas, may end up as a 2% or 3% rebate after 3-6 month. Also, often certain gas stations are excluded from the credit card rebate program. For instance, many gas credit cards require that you use either their gas company exclusively or a gas station that stands alone for the single purpose of selling gas. Filling up at a warehouse club may seem like it will save you additional money, but often gas credit card rebates exclude these types of fuel stations.

Why pay full price when you can get a discount with your gas card? One reason is because a lot of people save more money without them. That is to say that the majority of people who sign up for a gas credit card, thinking that they are going to save money from the rebate offer, end up carrying a balance on their card and paying a high interest rate instead. The average gas credit card with rewards has an interest rate around 13%, but some of them are as high as 20% or more. Plus, if a card holder is even a day late on their payment, the average late charge is $25. So, if you are thinking about saving money with a gas credit card, you will want to take into consideration that one way or another, someone is going to benefit from your account and it may not always be you.

In addition, the credit card company holds the right to change the terms on the card with little notice. One might sign up for what appears to be a great offer, only to see that it has changed months later. It has also been detected that some of the gas credit cards don't actually pay the rebate amount until the card holder formally requests the funds. They allocate a certain time period that this has to be done in, then disqualify the card holder from their entitled rebate after that time period is over.

Once again, be sure to read all of the fine print of any credit card offer. Plus, do some shopping around. There is a lot of competition among credit card companies and therefor many great offers are available. Find one that meets your individual needs.

Payments Via Payment Gateways

2009-08-10T15:13:00.000-07:00

A payment gateway is an eCommerce service provider that authorizes credit cards and eChecks and allows merchants to accept payments safely. This is accomplished by creating a communication line between the merchant and the credit card issuer's bank over an SSL encrypted site.

Payment gateways work by hosting a secure connection by which the merchant sends the details of the transaction. From this point, the payment gateway forwards the information to the processor used by the merchant's acquiring bank. Next the information is forwarded to the credit card company. (Visa, MasterCard, American Express, Discover or other) The credit card company then forwards the information to the credit card issuer's bank. Once the request has been received by the bank, an authorization or decline notice is reported back to the merchant by this same route in reverse. It may sound complicated, however this whole process generally takes less than a few seconds to complete.

Credit card and bank information is kept confidential by the payment gateway. In order to prevent identity theft and fraud all transactions take place across a secured network. This is done via SSL (secure socket layer) encryption. An SSL certificate works by encoding the sensitive information that crosses the internet so that it appears as random numbers, letters,and symbols that cannot be decoded without a key. Only the pertinent parties that receive the information have the key to read the sensitive information. They payment gateway us the provider for this secure connection of an encrypted language.

In addition, many payment gateways include tools to protect against fraud. Some fraud protection tools include delivery address verification, geolocation, velocity pattern analysis, identity morphing detection, and computer finger printing technology.

When it is time to settle the transactions, the merchant submits all of their approved authorizations in a “batch” to their acquiring bank. This information is also exchanged through the payment gateway, so the merchant can be paid for the pending transactions safely.

A payment gateway is necessary for processing credit card and eChecks online. They offer security to the buyer by keeping their personal information confidential. Also, they offer security to the seller by authorizing credit purchases and providing protection against fraud.

Low Interest Credit Cards

2009-08-05T14:16:00.000-07:00

By the end of 2008, Americans had racked up $900 billion dollars in credit card debt, the average household owing $8329. This was a 1.2% increase from the year 2007. (Source: Nilson Report, April 2009) One thing is for sure, American's are in the habit of spending money before they make it. For this reasons, there are a large number of credit card companies vying for your business. They offer tempting features including low annual percentage rates and the ability to transfer debts from other creditors. However, it is important to read the fine print on these offers. Although they may seem like a great way to save yourself from those steep interest payments, there are often catches to the promotions that are advertised.

First, be sure to realize that most of the very low interest rates that you see out there are just an introductory offer. Usually after a 12 month period, they jump to 18% or more. When reading the fine print, a credit card company should tell you what the interest rate will be set at once the introductory period ends. Although you could be saving money for a little while, in the long run, you may end up paying more.

In addition to a future of rising interest rates, low interest credit cards may hit you with some unexpected fees. Almost all credit card companies give you the option to transfer debts from other accounts, know as balance transfers. However, only in the fine print do they explain transfer fees. Sometimes it is a flat fee, usually around $10 per account. Other times they can charge you a percentage of the total balance being transferred. Many people don't realize that they have been charged these fees until after they receive their first statement.

Most importantly, pay your credit card bill on time. Not only are late payment fees expensive, but being late on your bill can actually increase your interest rate. If you have a zero interest credit card, it can increase to more than 20% due a late payment of one day or more.
Once again, it is the fine print that outlines the details of most credit card fees such as; interest rates, transfer fees, and late payment penalties. It is well worth the extra time to be thorough and carefully read the complete offer prior to opening a new credit account. Low interest offers can help you to save money, but you must know exactly what you are getting into.

Virtual Terminals

2009-07-30T09:22:00.000-07:00

Virtual Terminals - If you have an online business it is often advantageous to also have a virtual terminal. In addition to receiving credit card payments over the internet, your business may get orders by way of phone or fax. A virtual terminal is basically a software program that allows you to authorize and process credit cards manually, when you receive the order by a way other than through your web site. This can increase your sales as it gives your customers more versatility in the way that they can make their orders.

Virtual terminals are usually offered in conjunction with your merchant account. They generally cost extra to have and the transaction fees for operating them are generally higher than the transaction fees for regular internet sales. In other words, it will usually cost more money in fees to process a sale through a virtual terminal than through your web site. It is important to be aware of this price difference as sometimes it can be rather steep.

Virtual terminals can operate to accept credit cards both online and offline and offer flexibility to your business. You can hook your offline credit card reader into your virtual terminal for processing. Also, some virtual terminals even work with mobile devices, so you can be in transit or sitting at a baseball game while processing credit cards and making money. Their versatility makes them a great asset to any company.

Some of the popular online merchant accounts that offer virtual terminals include PayPal, Google CheckOut, Authorize.net, and 2checkout.com. However, there are many more companies with these services.

When deciding whether or not your business could benefit from a virtual terminal, you should consider the price of having the equipment and authorizing credit cards. You should also decide whether or not your business needs offline services as well as online. Plus, it is a good idea to shop around for a merchant account that you trust for this service. The decision to own a virtual terminal should be based on your companies individual needs.

PayPal Review

2009-07-20T14:10:00.000-07:00

If you are considering PayPal products or services you will want to know a few things about PayPal, and this PayPal Review will cover most of them.

PayPal was launched when Confinity and X.com merged. eBay purchased Billpoint as their payment system, at about the same time. But, by early 2000, it was clear that PayPal's payment system was preferred by eBay customers. In October of 2002, eBay acquired PayPal for $1.5 billion.

PayPal’s has since expanded, here is a review of some their products and services:

Website Payments Standard allows customers to instantly set up online payments to a website, and start accepting credit cards, bank transfers, debit cards, and PayPal payments. With this Standard program you will have use of the free PayPal cart, be able to sell gift certificates, have fraud protection, and free support via email or telephone. When making payment via the Standard program customers are temporarily directed way from the store website to the PayPal website. While there is no monthly fee, there is a 1.9-2.9% + $0.30 transaction fee, but does not include virtual terminal orders.
Website Payments Pro may not be set up without prior approval process via an application process. Once approved you have all of the options of accepting online payments as the Standard program, as well as the free PayPal cart, gift certificate options, fraud protection, and support. The biggest difference is your customers do not leave the online store to make their payment. The Pro package is $30 a month, plus 1.9-2.9% + $0.30 transaction fees, but includes Virtual Terminal orders.

Payflow Payment Gateway provides a secure connection between your online store, your internet merchant account, and your payment processing network. This payment gateway may be integrated into many shopping carts. Just like above, this program comes with two level options PayFlow Link which temporarily takes customers to a PayPal site for payment, and PayFlow Pro which allows them to stay on your site.

PayPal Express Checkout allows customers to go to a PayPal account login page from a link button on your website. This allows them to avoid entering all their shipping and billing information because it is already stored in their PayPal account.

PayPal Invoicing offers a free invoicing tool to assist business people in sending invoices for goods or services by email. This tool makes it easy to send email invoices for the business, and easy for the customer to make payments from a link in the email.

PayPal Credit and Debit Cards are available. They offer a PayPal Plus MasterCard and a PayPal Debit Card. The MasterCard has no annual fee, a rewards program, and customizable card design.

Protection is offered by PayPal, not only to the buyer, but also the seller.

Send Money via PayPal to nearly any email address. The money is withdrawn from your PayPal balance, bank account or charged to your credit card. Recipients log into PayPal to access the money.

Improving Your Credit Score

2009-07-13T14:45:00.000-07:00

Improving Your Credit Score - Before you can improve your credit score you must first understand what a credit score is. Your credit score is based off of information found on your three credit reports from Equifax, Experian, and TransUnion. The number known as a credit score is usually the one developed by Fair Isaac Corporation. The number can range anywhere from 300 to 800. As a general rule for any credit score, the higher the number, the better your credit. So if your credit score is lower than you’d like it to be, how can you make it better?

There are several things you can do to improve your credit score if it is already low. For one thing, if you have an overdue payment, catch yourself up and stay there. Making payments on time is a good way to start improving your score.

Try to avoid excessive debt. Your amount of debt shows on your credit report. If your debt is lower your score will be higher, especially if you are making good regular payments to work your way out of debt. If you can pay off one of your debts entirely, then it would really improve your credit score.

Don’t try something risky. Some tips, like cancelling credit cards you don't use, only improve your credit score temporarily. In the long run, they end up hurting more than helping.

Be willing to shop around. I know it isn’t fun, but when you need a loan, be willing to check multiple places so you can be sure you are getting the best deal you can get.

Check your credit report. When you check your credit report, get it directly from the three major credit bureaus. This way your check won’t affect your credit report. When you have it, make sure all the information shown is accurate. This way you can stay on top of your credit and know what is going on.

If you are unsure about what you can do, find help. Seek out a professional credit counselor. Follow their advice if it will help you.

Credit scores can seem tricky, but there is always a way to improve yours. Look at the best tips and apply them to see the results.

Rebate Credit Cards

2009-06-17T09:34:00.000-07:00

Rebate Credit Cards - Although rebate credit cards can also be used to describe reward cards, this review is more for cash back rebate cards. Cash back rebate cards have special deals that return some of your money back after using them to make a purchase. The rebate percentage is usually between 1% to 5%. There are some typical characteristics of cash back rebate cards.

Rebate cards usually have no annual fee at all. However, the few that do have an annual fee have a relatively high fee. The APR of rebate cards can range from anywhere around 10% to 17%. Don’t be fooled by common traps, however. Sometimes you seem to be getting the best deal, but it turns out the high cash back or low APR is only temporary. Don’t forget that the company holds the cards. Sometimes things are apt to change, even the good deal you just found.

Rebate cards, like all reward credit cards, are not recommended unless you have very good credit. Also, be sure you understand all of the fine print in a card’s deal before you register for it. If you pay attention you should be able to find a great rebate card that helps save you money.

Reward Credit Cards

2009-06-11T15:41:00.000-07:00

Reward credit cards are some of the most popular credit cards. They work like almost any other credit card, except they offer rewards for using them instead of another credit card. This review is about reward credit cards and some of the rewards they offer.

Reward cards are numerous. Almost every credit card company has at least one reward card in their available offers. Their APR can range from anywhere around 9% to as high as 18%. They almost all have an introductory rate of 0%. Don’t let this fool you though, because many of their APRs are higher than any other credit card. Many of them have no annual fee. The cards that do have an annual fee usually have a fairly high annual fee. (Somewhere between $100-$400) In order to qualify for a reward card you must usually have an excellent or very good credit rating. If you are currently in credit card debt then registering for a reward card is not recommended.

Some of the common reward types are travel rewards, or airline miles. The deal is usually about one mile for every dollar you spend. If you travel a lot, this card would work really well for you. Many cards that offer miles have an exchange. Sometimes you can trade some miles for cash at hotels or restaurants. With lots of airline miles, you might be able to pay for a whole vacation. However, sometimes miles expire over time. This can make it difficult to accumulate enough miles to actually be able to use them.

There are many different kinds of rewards offered to you with these credit cards. If you are interested in a reward card, be willing to shop around and find the one that works best for you. Be cautious. Reward cards are not for everybody. Make sure you completely understand how the rewards work before you register for it.

Student Credit Cards

2009-06-08T13:35:00.000-07:00

Student Credit Cards are usually the first credit cards we ever have. They are easily obtained because a consumer does not usually need any previous credit experience to get one. Since they are for students, the people who sign up for these are usually students who have never had a credit account before. Student credit cards usually have some features that set them apart from other credit cards.

Some college student credit cards are only available to college students. Sometimes, when registering for the credit card, proof is required to show that you are indeed a college student. This could be a student I.D. card, a copy of a tuition bill, or something else.

Student cards usually have a very low credit limit, meaning, within the hundreds. This makes sense considering this may be a first credit card. Even if a student went into debt with a student card, at least the debt would not be as bad as if it were a different credit card.

Student credit cards usually have no annual fee and an introductory APR interest rate of 0%. This is so students, who usually have little money as it is, can get used to the credit card. They can work their way into making regular payments.

Lastly, student reward cards usually have rewards. It can be money back for spending on dining or books. It varies from card to card. Some of them even offer rewards for making payments on time. This is a great way to help students see some of the ways a credit card can be beneficial. It will also teach new cardholders why it is important to make your payments on time.

Student credit cards are fairly basic. Almost any new student can get one. They provide great ways to teach the importance of maintaining good credit. Last tip, if you are a student be willing to shop around and find the credit card that works best for you in your current economic standing.

How to Freeze Credit

2009-06-05T08:46:00.000-07:00

How to Freeze Credit - Identity theft is on the rise in today’s society. Since people are getting more cautious about their security, there is now another option to consumers who may have their identity stolen. Freezing your credit is the best way to stop someone who has stolen your identity. So what exactly is a credit freeze?

A credit freeze is when a consumer’s current credit information is frozen as it is, and no other information can change it. This means that no one can open a new credit account under your name, third parties cannot look at your credit report without your permission, and no information in your credit report can be updated. The latter may prove to be an annoyance until the credit freeze is removed.

If my identity has been stolen, how do I freeze my credit? If you visit the websites of the major credit bureaus (Equifax, TransUnion, Experian) there are links that help you freeze your credit over the internet. There are also phone numbers and addresses if you’d rather freeze by phone or by mail. If your identity has been stolen, there is not a fee for freezing your credit. However, if there is suspicious activity and you freeze your credit as a precaution, then there is a fee. The fee is usually around ten dollars, but it varies from state to state.

While a credit freeze can stop most activity, there are some groups that can go through a credit freeze. Some of these are companies that you currently have financial relations with, law enforcement and courts, child support agencies, and other groups that vary from state to state. A credit freeze is the best way to protect yourself when identity theft strikes, but there are downsides to it.

When your security is no longer at risk, you can unfreeze your credit by using a PIN number that will be given at the time you froze it. You can permanently or temporarily unfreeze your credit as necessary. If your PIN number is lost, you must prove your identity to the credit bureau with items such as a social security number, birth certificate, driver’s license, etc.

The credit freeze is a security precaution. It works well in fighting against identity theft, but it usually costs money and can lead to annoyances as long as the freeze is in effect.

Credit Myths

2009-05-28T14:45:00.000-07:00

Credit Myths - There are many odd little myths in our day, but some of the most common ones are seen with our credit industry. Sometimes little things that appear to be the ‘tricks of the trade’ are built on false logic and common misconceptions. This review is for some of the more common myths found in our time.

If you make lots of money, or if you only purchase things with money then you will have good credit. This statement is false. Your salary will does not have any real affect on your credit score. A credit score is built on credit worthiness. Even if you have a lot of money, it still won’t show that you know how to handle it and make payments on time. If you only buy goods and services with money then you have no credit. If you have no history that shows you can be good with credit, lenders may not want to extend any credit to you.

Does a divorce absolve your responsibility to a debt? The answer is no. Even if a judge decides who is responsible for the debt, the creditor still has the document that both the husband and wife signed. The document is a legal contract. If the spouse responsible for the debt makes a late payment or cannot repay the debt, both spouses will have this marked on their credit reports.

If something is wrong with your credit, then it stays on your credit report for seven years. This is not always true. If you are having credit problems, but are able to completely repay one of your debts, it will show up on your credit report almost immediately. When negative information is taken care of, it can be taken off of a credit report quickly. However, there are some things, like bankruptcy, that will stay on a credit report for years.

Speaking of credit reports, some people think that all three of them show exactly the same information. Once again, this is not true. Some companies will only check one of them, or sometimes they are updated at different times. Because of this, not all of the credit bureaus receive the same information.

Closing your unused credit cards will improve your credit score. Do I need to say it? This is also false. This appears to make sense at first, because if you aren’t using something then you probably don’t need it around. Let’s say a consumer has five credit cards with a limit of five thousand dollars. The total limit is $25,000. If three of these cards are maxed out and the other two are unused, then the total credit being used is only $15,000 out of your $25,000. If you cancelled your other two unused credit cards, then you would be using all of your available credit. This doesn’t look good on your credit score. However, accepting a lot of credit cards isn’t the answer to getting better credit either.

Getting credit counseling for your credit will make your credit score go down. Sometimes the results of what a credit counselor may advise you to do, such as lower your monthly payments, might bring down your credit score. However, just going to see a credit counselor shouldn’t lower your credit score. Oftentimes, the credit bureaus never even find out.

I hope this has been helpful. There are still a few myths out there, but the answers are available. Be wise with your credit and the best answer is always possible.

Discover vs. MasterCard

2009-05-26T10:59:00.000-07:00

Discover vs. MasterCard - MasterCard and Discover are two major credit card companies. Although MasterCard has been around longer than Discover, they both have their strong sides and benefits.

Discover was founded in 1986 when it was first announced during a Superbowl commercial. Discover was one of the first credit card companies to offer cash back rebates. Not only does Discover focus on bettering consumer’s financial situations, but they also make communities better. In just this last year, almost 50% of their employees contributed to volunteer services. This resulted in more than 35,000 hours of volunteer time. Discover also donates to non-profit organizations and scholarship programs.

MasterCard was founded in 1966. MasterCard has worked to become the global company that it is today. They also donate to scholarships, grants, and non-profit organizations. MasterCard performs public services in their local communities. The goal of MasterCard is to become a leader in influencing the global economy.

So while both of these companies have a unique history behind them, they both contribute to make our communities a better place. Both MasterCard and Discover have their own line of credit cards to choose from with different services and benefits.

Discover has gift, reward, business, and student credit cards. They promise to respect the privacy of their customers. Discover prides in offering many ways to save money. Many of these options come in the form of cash back benefits. You can find any information about their credit cards on their website.

MasterCard has many services available through their company. From their website, you can pay your bill, find opportunities to save, find your account information, find the right people to contact if your credit card is lost or stolen, find local ATMs, and more. MasterCard offers deals on credit, debit, and gift cards. Information regarding these cards individually is available on their website.

Both MasterCard and Discover have great deals for everybody. They are good companies who try hard to contribute to those around them. If you were considering a new credit card or any other financial card, either Discover or MasterCard is a solid recommendation.

Visa vs. American Express

2009-05-14T13:16:00.000-07:00

Visa vs. American Express

Visa and American Express are massive companies that have become some of the best credit card manufacturers in America. Both companies have their own story and their own special deals.

American Express started out in 1850 in New York City. While American Express was originally a freight business, they have changed as time went on to different means of earning money. They welcome customers by maintaining the attributes of integrity, security, quality, trust, and customer service. American Express donates to the Red Cross, education grants, and performs public service in local communities.

The company ‘Visa’ was originally known as BankAmericard, but changed its name to Visa in 1976 because it is much easier for people to remember. Visa helps local communities and even places far away by donating to humanitarian aid programs. Because Visa believes knowledge is the most powerful financial tool, they have created and sponsored financial literacy programs to help consumers understand credit and stay out of debt.

Both of these companies have credit card offers and special services to make things easier.

American Express has many credit, debit, gift, and student credit cards available. The cards also have protection warranties. From American Express’s website you can pay your bills online, monitor your spending, find tips to prevent credit fraud, and find answers to questions about your credit score. American Express tries to make it easy to find what you need and offer help with any of your questions.

Visa offers credit cards, debit, and prepaid credit cards. If you are in a new area, Visa can help you find an ATM near you or to somewhere you may be traveling to. You can even find the exchange rates of other countries. If your card or traveler’s cheque is stolen then you can find a number on their website to call for help. Visa has a very simple and easy to navigate website.

Both Visa and American Express have their own benefits and services, but only you can decide which may be best. There are so many options out there, but American Express and Visa are trying to help you make the best choices with your money.

Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.

American Express vs. MasterCard

2009-05-11T08:39:00.000-07:00

American Express vs. MasterCard

While both American Express and MasterCard are major credit card companies, they have their differences.

American Express was founded in 1850 in New York City. It started out as a freight business, but has evolved to become the global payment company that it is now. They claim to honor and maintain the attributes of integrity, trust, quality, security, and customer service. American Express helps give back to the community by donating grants, performing public service, and even aiding the Red Cross. This is a company that has lasted the effects of time, and continued to grow stronger.

MasterCard started out in 1966 and has since become a global company. They help communities grow through public services. Mastercard also helps education programs by donating to scholarships throughout the United States. Their goal is to become a leader in influencing the global economy. MasterCard has already fulfilled this goal and is continuing to grow today.

Both of these companies have their own line of credit cards. Each company has personal, business, and merchant cards with their own unique benefits. Let’s compare some of the attributes.

American Express provides services such as paying your bills online, protection warranty, tips to prevent credit card fraud, monitoring your spending, and answers to questions about credit scores. American Express has many credit, debit, gift, and student credit cards to choose from and is willing to help you find the one that works best for you.

MasterCard also has many similar services available through their company. With MasterCard you can pay your bills online, gain opportunities to save more, look at account information, look up ATM locations, ways to contact the right people if your card is lost or stolen, and more. MasterCard has all kinds of offers for gift, debit, and credit cards. They are willing to work with you to find which card works best for you.

Both of these companies are large and successful. Each one has great deals to offer to their consumers, and they both give back to the world. Whichever company is chosen for your credit needs, you are bound to find a good deal that works for you.

Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.

Chargeback - Business

2009-04-20T10:20:00.000-07:00

A business should do everything possible to avoid having a customer dispute a charge on their credit card, and being issued a chargeback. There are several things you can do to protect your business from being penalized because of consumer chargebacks, avoid fraud issues, and also protect your customer.

Whether you provide retail business face-to-face, online shopping, or service oriented business you may still be at risk for chargebacks. Some businesses are considered a higher risk for chargebacks than others, and their merchant account fees will be higher because of it. For instance, if all of your business transactions take place over the telephone or online you are more likely to be charged high fees from your merchant account provider because typically you are not dealing with people you know, not getting an authorized physical signature, and may not get all of the information necessary to verify authorization of the credit card.

When you set up your merchant account or payment gateway you will have the opportunity to set it up with your choice of security levels. Because you are taking credit cards online you need to verify as much as you can. The more information you require from the credit card holder the better. At very minimum you should be getting the credit card number, the expiration date, and the card holders name. By getting the credit card holders address, billing zip code, security code (CVV) from the back of the card, and if possible an authorized signature (even if it is by fax). Taking this extra information will not only help protect your customer and you from credit card fraud, but also your business in the event your client disputes the charges on their card.

You will also want to set up your merchant account to be very specific with your business information when it comes to what is going to show up on your customers credit card statement. By providing your customer your business name, location, and a telephone number that will show on their credit card statement next to the charge you will be able to clarify where the charge is coming from so your customer may recognize the charge. Many chargebacks happen because the customer does not recognize the business, or remember the transaction. If there is a telephone number (especially a toll-free number) the customer is more likely to call you to verify the charge versus dispute the charge.

When doing online business you will want to have your own SSL Certificate. An SSL (Secure Socket Layer) certificate is what provides you and your customer valuable security from hackers trying to get credit card information to later be used fraudulently. SSL encrypts the information as it is being transmitted. These certificates range from 40 bit (low security) to 256 bit (high security) and can cost from $10 a year for a shared SSL, and up to $1500 a year.

It is in your best interest to do everything you can to verify your customer is the authorized card holder, to provide your customer with information as much business information as possible, and to encrypt any information that will be transmitted online. If your client disputes a charge you should do everything you can to work it out with them and avoid a chargeback. If you start receiving very many chargebacks your merchant provider is likely to increase the fees you pay to accept credit cards, or may cancel your merchant account all together.

Chargebacks - Consumer

2009-04-08T12:17:00.000-07:00

As a consumer any time you purchase something with your credit card you have certain entitlements. There are several consumer protection laws in place to help protect you. It does not matter if you are purchasing in a retail store or shopping online, you still have certain rights. One of those rights is the ability to dispute charges on your credit card bill.
If you get your credit card bill and see that there are charges for purchases you clearly did not make or authorize you may dispute the charge. If there is any question you may first contact the company that charged to your card to get clarification of the charge. This may save you some headache later if it is a valid charge that you just forgot about or if the company accidentally keyed in a credit card number wrong and clear it up for you on their end. This way both of you avoid chargeback fees and hassles. If this does not work, or you have been a victim of identity theft, then go directly to your credit card company as soon as you realize your card is being used by an unauthorized person. Your credit card company will put a freeze on your credit card, start an investigation to verify the information, and refund the money back to your card.

If you purchase something with your credit card but when you get the product it is broken, the wrong product, or not what you thought it was going to be you may return the product and get your money back. Again, your best first step is to try to work it out with the company you purchased from. From there you may dispute the charge with your credit card company. The way your credit card company handles these two situations are very different.

You should keep track of and document all communications and attempts to settle this matter with the provider. Doing so will eliminate a lot of hassle for you and your credit card company.

There are certain restrictions that go along with issuing a credit card chargeback. Typically if you already paid your bill and it has been 60 days you will have a difficult time disputing the charge. Some companies will not allow you to dispute items under $50 or outside a 100 mile radius of your home. If you are a long time good customer without a lot of chargebacks with your credit card company they may work with you on the last two.

It is advisable to always try to handle the situation with the provider, that is a win-win for everyone. Keep in mind that a business processes your credit card payment through their merchant account or payment gateway which charges them fees to process. They also charge them fees when a charge is disputed. If a business gets too many chargebacks their fees will increase and/or they will be denied a merchant account, which can really hurt their business. Most businesses will do what they can to work it out between you and save everyone the hassle and paperwork of a chargeback. However, there are some who will not and it is your right as a consumer to dispute the charges to your credit card.

What is a Credit Card Chargeback?

2009-04-01T15:02:00.000-07:00

I was going to do a post on how businesses and consumers should handle credit card chargebacks. Then I stopped and considered that many people may not know what a chargeback is or what the process means. So, today we will cover what a credit card chargeback is and then in future posts we will discuss what a business or consumer can do to protect themselves when using or accepting credit cards.

A chargeback occurs when someone disputes a charge on their credit card and the credit card company or financial institution refunds their money back to the card. The credit card company then goes back to the business and collects the money they had to refund back to the consumer. There is also typically an additional fee tact on.
Chargebacks can occur for a number of reasons, some of those are:

Consumer does not recognize a charge on their statement.
Consumer was charged more than once for the same product or service.
A charge made to the wrong account due to someone giving an incorrect account number.
Overcharging of a product or service.
Dissatisfaction of product or service purchased.
Not receiving a product, or the wrong product.
Charges that were not authorized by the cardholder.

Consumers are usually encouraged to do anything they can to work with the business or provider to come up with a solution to the problem before disputing the charges on their card. Many times these issues can be resolved without involving the financial institution or credit card company.

With the growing popularity of ecommerce and online shopping the number of chargebacks has been growing significantly. With Visa and Mastercard debit cards taking over the old ATM cards more people who previously did not have a credit card are able to shop online. There has also been a growing increase in identity theft issues which create more chargebacks for unauthorized charges.

When a chargeback comes back through a merchants account they are not only charged a fee but it affects their credit with their merchant account holders. If a company gets too many chargebacks they can be refused a merchant account which limits their ability to accept credit cards.

In the next couple posts we will discuss what businesses as well as consumers can do to reduce the number of chargebacks.

Online Shopping Security - Consumer

2009-03-26T12:55:00.000-07:00

For anyone who is using a credit card to purchase anything online the security of their information is very important. They need to be able to trust that the websites they are shopping online with are doing whatever they can to insure their information is safe from any fraud issues. This post is intended to address some of the things you can do as a consumer to do your part in making sure you do not become a victim of identity theft.

When you are shopping online look in the lower right hand corner of your screen for a small padlock icon. This is a sign that the provider has taken enough security measures to purchase an SSL certificate, which will encrypt all of your information in the transaction.
Even though you do not want to give out too much personal information (such as birth date or social security number) if a provider asks you for the security code on the back of the credit card or for your zip code they are doing so to protect both you and the provider from someone who has got a hold of your card number but does not know you, have the card in their possession, or have personal information like where your bill is sent.
If you are going to use your credit card online there are several ways in which a business can process the credit card payment. One of which is through a merchant account where the business processes the payment through their financial institution. The other is through a payment gateway such as PayPal. Both provide a certain level of security.
Shopping carts also provide you with a level of security. There are tons of different types of shopping cart software and programs available. It is up to the individual business to decide how secure and how detailed the shopping cart check out process is. Even though it can seem like a pain to have a several page checkout process, this may be a way of providing extra security.

These are just a few things you can do as a consumer to help prevent identity theft and look out for your own security when shopping online.

Online Shopping Security - Business

2009-03-10T08:52:00.000-07:00

With a good percentage of business directed toward online shopping, security for a business selling their goods or services online is important. In doing so they need to consider protecting themselves and their potential customers from fraud.
We have done a number of posts about protecting yourself from identity theft / fraud and what to do if you become a victim of identity fraud. We also have posts which discuss why a business should accept credit cards. I would now like to discuss the topic of security when shopping online. First, we will take a look at what a business may do protect themselves and their customers then in my next post we will discuss consumer rights and practices.
When a business decides to move into the e-commerce world of selling on the internet there are several things to consider:

Providing a secure website. Most people are aware to look for the small padlock symbol in the corner to see if the site is protected. I am guess most people are not exactly sure what that means. It means the owners of the website have purchased an SSL certificate. These SSL (Secure Socket Layer) certificates encrypts your personal and credit card information while transmitting it. There are several different levels of SSL certificate encrypting and as a consumer it may be difficult to find out what level the site uses, you should be able to feel reasonably safe if you see a the lock. As a business owner you will want to provide a good level of encryption because if a hacker is able to get a hold of your customers information they are not the only one who pays the price. It is your business and your reputation you are also protecting.
Ability for consumers to pay. By using a merchant account service you will be able to process your customers credit card payments. This is done through a merchant account which is processed through a bank through which you get approvals on credit card payments, they take a processing fee out of the payment, and give you the balance in your business bank account. There are also several things you can do to provide more protection through your merchant account, such as requiring more information from the customer like their zip code, security codes, and even a written signature (which can be faxed to you). If these steps are followed you will have more recourse in the event of any question of charges.
Alternative payment options. There are a number of payment processing companies, often referred to as payment gateways. One of the more popular being PayPal. These types of companies play the go-between person in processing payments. Their purpose is to process payments, but they also stand up for consumers and businesses when there is any dispute. PayPal, like other large payment processing companies have the resources to settle disputes that a small company may not.
Shopping cart. Although this may not be viewed as a security, when you are dealing with shopping carts you are providing your business and your customer with another level of added security. Here again, there are a number of available options including; free, shopping cart software programs, and web based shopping carts. Which one you choose would depend on your business.

College Credit Tips

2009-03-02T13:21:00.000-08:00

Most college students are just getting out into the world on their own for the first time, which includes the reality world of MONEY (jobs, tuition, books, bills, credit, trying to balance a budget, and credit cards).
Many colleges allow credit card recruiters on campus that offer free t-shirts, pizza, etc... just for filling out an application. What the students aren't aware of is too many applications may hurt not help their credit scores. They are also not aware that once they fill out one application there is a pretty good chance that they will start getting bombarded with credit offers by mail.
According to statistics, 56% of undergraduates get their first credit card while still 18 years old, by their final year of undergraduate study 91% of students have at least one credit card, and by college graduation 56% of students have at least four credit cards.
Credit card companies are aware of these statistics and know that college students are more like to apply for and use credit than most any other demographic group, without understanding the consequences. If you are a college student, or a parent of a college student, don't get caught up in these traps.
Here are some tips to help you financially successful through college:

Shop around. Do not sign up for the first credit card that comes your way. Compare student credit card offers. Look for a low interest rate, introductory rates, no annual fee, low balance transfer fees, and good rewards programs.
Stick to a budget. Start getting into good financial habits. Just because you have a credit card does not mean you have more income, it means you now have a loan, and if you use this loan you have to pay it back.
Pay your balance every month. When you pay off the balance each month, you will stay within your budget and not be getting into more debt, and not paying interest.
It is important to establish credit. Credit cards can be a great financial tool to help you. However, if you are not careful, or are irresponsible, a student credit card can result in debt that is difficult to pay off.

There are many companies that offer credit cards specifically for students that are designed to help keep their debt down and build their credit. These companies typically offer small credit limits, try to keep low APR's, and offer rewards designed to help students.

Cancelling Credit Cards

2009-02-23T12:23:00.000-08:00

In today's economy many people are tempted to cancel their credit cards. Some people may think this is a good idea because:

their credit cards are already maxed out.
the card company changed their terms.
they feel they have too many credit cards.
it will reduce the temptation to charge things.
they are not able to pay them off.

Before cancelling your credit cards find out how it will effect your credit. If you cancel your credit card voluntarily versus being forced into cancellation by the credit card company it will make a difference on your credit report. If you are cancelling your card, but intend to still pay the balance, due to the change in terms or to reduce your debt you should:

cancel your credit card with the card company.
follow up cancellation with a written cancellation notice.
destroy the card.
make note on your credit report why YOU cancelled it.

A credit card company may cancel your card if they feel you have become too high of a risk, are not making your payments on time, or your account has been inactive for a period of time. They may also reduce your credit limit for the same reasons.

There are a few things that effect your credit score such as:

How much overall credit you have
How much is "available" credit
How long ago you established the credit

With this in mind if you are going to choose to cancel any credit cards you should first pay off any money owed on the cards, make note on your credit report why you cancelled, and keep your oldest and best credit cards.

Credit Card Fees

2009-02-09T14:10:00.000-08:00

At a time when consumers are losing jobs at record rates and already cash poor they can't seem to find a break anywhere. Some people, who have previously formed good financial habits, are paying their bills with their credit cards in hopes the situation is going to turn around soon and they will be able to pay off the credit they are using. Not only is it difficult if not impossible to find a bank willing to loan you money when you are already having difficulty but many of the credit card companies are continuing to increase the fees and interest.
Picture this, you have available credit on credit cards you had previously earned with a credit card company which has just been sitting there waiting for you to use it, and are now you have come upon financial hardship and need to use some of this credit you find it is going to cost you a lot more to use it.
Chase announced today they have begun charging hundreds of thousands of customers a $10 a month or $120 a year fee, which will be charged interest. Plus, they will now be requiring 5% of the balance as a minimum payment, instead of the 2% previously expected. Keep in mind that paying less than the minimum will also result in more fees. For people wanting to avoid these fees Chase is offering them a higher interest rate.
All of these things are discouraging but there are a few things you can do make sure you do not become victim to all of these fees:

Know the terms of your credit card. Educating yourself can save you money.
Make at least the minimum payment on your credit cards every month.
Make sure your payment reaches the credit card company by the due date.
Read your statements, and understand them, call them if there is a question.
Identify the interest and fees on your statement, make adjustments to avoid them.

It is not bad to have credit cards or even use your credit cards, it is how you use them and manage them that counts.

Using credit cards can actually help increase your credit score as long as they are used and paid wisely.

MasterCard vs. Visa

2009-02-02T13:23:00.000-08:00

If only two credit cards are accepted, the two most businesses accept are MasterCard and VISA.
MasterCard:
MasterCard Worldwide offers both debit and credit cards. Originally founded in 1966 as Interbank Card Association (ICA). By 1968 this US-based company expanded to form a global network, a year later it acquired the rights to the name and trademark interlocked circles of "Master Charge."
The card was renamed to MasterCard in 1979. The MagStripe became standard in 1974, and the industry-leading security hologram was introduced in 1983.
In the 1980s, MasterCard also offered the first payment card in the People's Republic of China. They then acquired an interest in EuroCard(later called Europay), as well as the Cirrus ® ATM network, MasterCard joined Europay in introducing the first online point-of-sale debit network, called Maestro® in 1991.
In 2002 they merged with Europay International to the form MasterCard International, which also converted a private-share corporation. A contactless payment program, dubbed PayPass, was introduced in a trial program in 2002 as well, in partnership with three other institutions: Chase, Citibank, and MBNA.
Originally, over 25 thousand card-issuing financial institutions owned MasterCard. As the PayPass system grew, MasterCard made other changes. In 2006 MasterCard began being traded on the New York Stock Exchange (NYSE). That same year, the name MasterCard Worldwide was debuted.
VISA:
VISA's roots lie with the BankAmericard, in 1958 Bank of America offered a revolving credit card. Incorporation as National BankAmericard Inc. (NBI) took place in 1970.
NBI launched an electronic authorization system in 1973, followed in 1974 by an electronic clearing and settlement system which was the foundation on which VisaNet was built. BANCO, the International Bankcard Company was formed in 1974 to run the international program offerings, and the name change to VISA followed in 1976.
VISA launched its global ATM network in the 1980s, along with its 24-hour per day cash access system in 1983. In 1986, VISA started offering multiple-currency clearing and settlement through merchant account services to customers.
VISA introduced neural networks in its payment system in 1993. This system provides data about suspicious transactions and had the potential for reducing card fraud. That same year VISA's came out with the first international prepaid credit card.
VISA, MasterCard, and Europay teamed up in 1995 to create standardized card chip specifications, so that all card offerings could be read by terminals.
Like MasterCard, VISA underwent corporate restructuring around the same time. In 2007, this led to VISA, Inc., a global organization. And in 2008, VISA made an initial public offering (IPO) and began to be traded on the New York Stock Exchange. Like MasterCard, it was previously formed of the 21,000 or so financial institutions that offered the credit card.

Security Breach

2009-01-26T07:52:00.000-08:00

In recent posts we covered how to prevent identity theft and what to do if you feel you have been a victim of identity theft. These articles were based on things within your control. In light of the recent security breach of one of the nations larger payment processing companies, Heartland Payment Systems, which processes payments for over 150,000 merchants we felt we should address this issue. When there is a possibility that your credit has been compromised due to an outside source you should keep an eye on your bank and credit card accounts for any unusual or unauthorized activity. If you see anything suspicious follow the steps suggested in our identity theft post.

Heartland Payment Systems has posted this website: http://www.2008breach.com/. to keep consumers up to date on information regarding this breach. They also note that: "this data did NOT contain merchant data or cardholder Social Security numbers, unencrypted personal identification numbers (PIN), addresses or telephone numbers, therefore making it highly unlikely it can be used for identity theft."

Business Travel Credit Cards

2009-01-19T06:31:00.000-08:00

If you and/or other people in your company travel on a regular basis you may know the difficulties that comes with travelling without a credit card. Let's just take a look at a few scenarios you can avoid just by having a business credit card:
1. If you are booking airline tickets online or over the phone with your credit card be careful, some airlines will require the person travelling to be in possession of the credit card used to purchase the travel at check-in.
2. If the person travelling is using a kiosk to get boarding passes the easiest way is for them to slide the credit card used. Otherwise, make sure they have a confirmation number or other information or they may be stuck in long lines trying to check-in.
3. Once at their destination if they have to rent a vehicle they MUST have a credit card in their name. Which means your employee must have an available credit on his/her credit card to use and you will have to work out reimbursement terms.
4. When booking hotels you may be able to "guarantee" a room with your company credit card. This is usually only a guarantee to the hotel that you are going to show up and if you don't you are authorizing them to charge at least the first night's stay for a "no show". But, your employee will still need to provide a credit card for "incidentals" and also pay for the room upon departing. Once again putting everyone through another reimbursement process.
5. Extras? Meals, gas, or any other extras can become a nightmare for both the employee and the company trying to keep track of every cash or credit card receipt then again going through either giving them money in advance or going through the reimbursement process. There are also gas reward credit cards.

With a business travel credit card you can eliminate all of these hassles at once. You, your employee, and your book keeping can all rest easier knowing all business trip expenses can be handled all on one credit card without the hassles of travel advancements or reimbursements. And it will all come detailed to you in one simple statement.

If Your Identity Gets Stolen

2009-01-12T07:48:00.000-08:00

If you feel someone has stolen your identity or is using your name, information, or credit without your permission there are a number of things you should consider.

1. Contact the fraud department of all 3 major credit reporting agencies. This will place a fraud alert on your accounts and information preventing any further fraud.

2. Contact the local police and file a report. Be sure to keep a copy of this report as some creditors may require a proof of the police report.

3. Call 1-877-IDTHEFT, this is a federal government fraud hotline specifically designed to help people who have been an identity theft victim.

4. If you find fraudulent accounts, information, or credit cards close them immediately and follow up by writing to these creditors.

5. If any of your legitimate accounts have been accessed make sure you cancel/change them and get different passwords or pin numbers.

6. If you feel someone has used your social security number notify the Social Security Administration immediately.

7. If your drivers license has been lost, stolen, or misused notify the Motor Vehicle Division immediately.

8. If you feel your mail has been compromised, such as credit card offers stolen and used, notify your postmaster immediately.

9. Request a credit report from all 3 major credit reporting agencies. Make sure you go over all details and request any inaccurate information is changed/removed from your credit report. Be prepared to give any proof you have that the information is not accurate.

10. Make sure you keep accurate and detailed records of every company and every person you talk to in regards to resolving your identity theft issue, including dates, times, and any pertinent information discussed.

11. Continue to monitor your credit report to insure your issues are resolved and no more issues arise.

Prevent Identity Theft

2009-01-05T08:11:00.000-08:00

The use of another persons credit or credit card is often how thieves begin to steal a persons identity. No matter what credit card or cards you use it is important to protect them. Below is a few tips to help protect yourself from identity theft:
1. Only carry credit cards that you currently use with you. If you have others you do not intend to use put them in a secure place in your home.
2. Your social security card should never be kept in your wallet. You should always keep it in a secure place.
3. Shred or destroy any credit card offers or pre-authorized cards that come in your mail prior to throwing them in the trash.
4. Always use caution when giving out personal information or account numbers whether it is over the internet or the phone. Make sure you know the company is reputable and your information will be secure. Most websites have security in place, but you should always look for it.
5. Activate any new credit cards right away and destroy any old ones associated with that card.
6. Sign the back of your credit card. This makes it more difficult for someone to duplicate your signature. Another option is to write "See ID" or "Ask for ID" in the signature area on your card, this will insure creditors know it is you who is using your card.
7. Do not allow other people to use your credit card. You are responsible for all charges made to your card whether you make them or you authorize someone else to do so.
8. Always shred any bills, statements, or paperwork with personal or pertinent information on them. Even checks or statements on closed accounts have potential information for someone to steal your identity.
9. Keep track of all of your financial transactions. Keeping your receipts until you have matched them with your statements can prevent misuse.
10. Check your credit report often for any errors or misuse. Do not do this through a bank or financial institution. It is best to go through a reputable credit reporting agency such as Experian, which will not effect your credit score.

Reward vs. Rebate Credit Cards

2008-12-29T10:54:00.000-08:00

Have you ever wondered what the difference is between a rebate credit card and a reward credit card? Well, the basic difference between a rebate versus a reward credit card is that a rebate credit card will give you a cash back incentive for using your card while a reward credit card will offer you some type of reward other than cash such as gifts, merchandise, status, or travel.

All of the major four credit card merchant companies, MasterCard, Visa, Discover, and American Express all offer some type of reward and also some type of rebate credit cards. They may even have several different types of rebate and reward offers. You should compare credit card offers and see which one best suits your needs. Everyone is different and so are their needs or desires. For instance, if you never travel, have no interest in travel, or do not see yourself being able to afford a vacation any time soon then a reward credit card that offers you a free airline ticket is not going to suit your needs at all. Perhaps a rebate card would help you more. With cash rebate cards you can decide for yourself what you would like to spend the cash on.
Whether you choose a rebate or reward credit card either way at least you are getting a little something back for using your card. Many people continue to use a credit card or debit card that does not offer them anything in return.
Always do your research and read the fine print before signing a contract with any credit card company.

Credit Card Regulations

2008-12-22T07:36:00.000-08:00

There have been a number of articles in the news lately about new federal regulations being put on credit card companies. In the recent past credit card companies have started charging astronomical "fees" for things you may not even be aware are in your contract, such as "late fees" and "transfer fees". In case you are not aware of how the industry and consumer laws have changed over the years, here is a brief history.

Years ago credit cards were subject to usury laws which capped the interest rate that credit card companies could charge to between 12-18% APR (Annual Percentage Rate).

In 1978 the Supreme Court decided to get rid of these laws and allow banks and credit card companies to charge the maximum amount their state would allow.

Some states such as South Dakota and Delaware removed the interest cap altogether which made more banks and credit card companies open offices there so they could charge more interest.

In 1996 the Supreme Court decided that credit card fees could be treated the same as "interest", allowing banks and credit card companies to start charging things such as a $40 late fee versus a $10 late fee and putting any extra payments (beyond the minimums) towards the balance that carried the least amount of interest (allowing interest charges to stack up).

Over recent years credit companies and banks have become very generous in increasing credit limits for consumers. Mostly because the housing industry was doing so well that they could increase credit limits, people would use that credit, then banks would try to get them to consolidate that debt into their mortgage through a home equity loan. A winning situation for the banks and credit card companies all the way around.

Now with the economy struggling many people have these credit debts that they can no longer afford and banks are not increasing credit limits. In fact, we hear in the news every day how lending practices are getting tighter and tighter.

When most consumers are shopping for a credit card they typically primarily look at the interest rate and any upfront fees but do not research far enough to find out about how all these other fees work or how they will affect them.

If you have been caught up in this vicious credit cycle and the economy has you struggling as well. Don't give up! There are still some great credit card offers out there. You will just need to do a little more or a little deeper research to find the best deal for you. Be sure to try to keep or clean up your credit score rating the best you can, pay your bills on time (or make arrangements so it doesn't hurt your credit), maybe try a debt solution company to assist you, set goals to help resolve your debt problems, and be wise about planning and sticking to a budget!

Pre-paid Credit Cards

2008-12-15T08:16:00.000-08:00

The Fitch report released a report today that credit card delinquencies of 60 days or more are up 24% since August. This is not terribly surprising with the amount of people who are struggling in today's economic times and with unemployment rates increasing every day.

If you find yourself in this position here are a few suggestions that may help. You may want to transfer balances of one or more credit cards that have a higher interest rate to one with a lower interest rate. Just watch out for any transfer fees. This can help you consolidate your credit card debt so you can make one payment instead of 3 or 4 and if you are late in making your credit card payment only one company will be sending a negative report to the credit reporting agencies instead of several. Late payments effect your credit rating score.

Another solution may be to use a credit repair or debt consolidation agency. They can often reduce the amount of interest you pay, reduce the number of bills you pay out every month by consolidating them, and they work directly with you and the people you owe money to and assist you in all of the arrangements. Keep in mind debt management services are not free and you should do your research before choosing a specific agency.

If you are not successful in solving your debt problems and your credit score is suffering because of it, or you have been forced into bankruptcy, there are some things you can do to help rebuild your credit. Although rebuilding your credit score does not happen overnight it can happen. There are credit repair companies to help you. You need to make sure you are paying all of your bills ontime. Avoid filling out any credit applications (even for the free set of knives at the department store) because each time you do it puts a little ding in your credit. It is often difficult to get a credit card once you have a low credit score. Some credit card companies offer a pre-paid credit card which allows you to deposit money onto the card and then use it. You rebuild your credit by sending them money on a regular basis they in turn will report back to the credit reporting companies. Not all of these pre-paid credit card companies will send a report so do your research before choosing one. You can find companies online that write reviews and compare credit cards for you.

Start Accepting Credit Cards

2008-12-11T10:35:00.000-08:00

Top 10 reasons you should consider opening a merchant account and start accepting credit cards in your business:
1. Shoppers are more likely to use a credit card. Not many people carry a bunch of cash around with them anymore. They often don't carry a checkbook either so accepting credit cards is your best bet for increased sales.
2. Shoppers are often to use credit more often. Not only do they spend more frequently when using credit cards but often make larger purchases.
3. Credit cards are the preferred method of payment online. Most consumers feel better about using their credit cards online because they feel it is more secure.
4. Online shopping is becoming more popular. Even if you have a retail business you should have a website that accepts credit cards. If you don't you are missing out on a great opportunity to increase your sales.
5. Your competitors already accept credit cards. If you are not accepting credit cards you may want to take a look at the competition because certainly most, if not all, of them are.
6. Credit card rewards make it more appealing to customers. There are many great reward, rebate, and incentive cards available to your customers now and they are likely to want to cash in on those rewards when making purchases.
7. Customers will feel confident doing business with you. Consumers often feel more secure doing business with people who accept credit cards.
8. Credit cards are quick and easy. You know immediately if the funds are available alleviating the hassle of trying to track people down when their check doesn't clear the bank.
9. Increase your customer database. People all over the world have credit cards and they love to shop online so why not make them one of your customers?
10. Credit cards are more versatile. No matter what kind of business or service you have accepting credit cards will be the fastest most effective way to get your money.

Debt Consolidation

2008-12-08T07:23:00.000-08:00

With our economy struggling many families are having a hard time making ends meet and therefore turning to their credit cards to pay even the essential bills.
According to debt statistics the average American family has between $5000 and $8000 in credit card debt. Amongst those families many are paying up to $1000 a year in interest rates. There are a number of ways to consolidate your debts in order to save you time and money. One of which is to use a debt management service company to assist you. These companies specialize in working with the people you owe money to and working out payment plans with them, which will eliminate annoying collection calls and also lower your monthly payments.
Many credit card companies have special introduction offers which allow you to pay 0% interest for a given period of time. This may be a good option for someone who has numerous credit cards with high interest rates. Let's just say you have 3 credit cards with an average interest rate of 15% and a total balance of $5000. In a one year period you would pay a minimum of $750 in interest. If you could consolidate these credit cards to a card that offers a 0% interest rate for that year you would be paying an additional $62 a month towards reducing your credit card debt instead of in interest.
Make sure when considering debt management or consolidating your credit cards that you read the fine print about any additional fees or charges such as balace transfers, over the limit, late fees, and what the APR will be once the introduction offer is up.

Are You a Credit Conscious Consumer?

2008-12-01T09:46:00.000-08:00

With the economy struggling many of us are concerned about how this holiday season is going to affect us. We would all like to give and receive in the spirit of the season. But, if we are not careful or prepared with a plan we can easily cave into the consumer pressures of spending well beyond our means. In a recent poll about half of the consumers admitted they will still be paying off last Christmas' credit card debt into next spring.

It is important to set goals or boundaries for yourself. Some of the goals may include:

Make a list of everyone you want to buy for and stick to this list. (Don't add some random person just because they bought you something.)
Decide on a specific total amount you can afford to spend. (This is probably different than want you would like to spend.)
If you are planning to use credit cards make sure you are using the right card for you. (Many credit cards have perks, and why not get a little something for what you intend on spending anyway?)
Attach a dollar amount to each person on your list. (If you find a gift that is less don't feel guilty...they never knew how much you INTENDED to spend on them.)
Make a list of gifts each of those people want or need. (And take that list with you when you shop as a reminder.)
Avoid buying more gifts or spending a little more money just to "even things out".
Consider what each person on your list really needs or wants versus buying randomly just for the sake of giving.
Avoid picking up those "stocking stuffer" items every checkstand is full of this time of year. (Does little Sallie really want that candy cane chapstick?"
If you are going to use credit, do it wisely.

Hopefully these tips may take some of the stress out of your holiday shopping experience.

Happy Shopping and Happy Holidays to All!

Visa vs. Mastercard

2008-09-04T10:07:00.001-07:00

When you're looking for a new credit card what should you choose?
Visa, MasterCard, AMEX, Discover?

Visa and MasterCard are the most widely accepted credit cards worldwide. Either one will provide you with the availability, features, and flexibility you need.

So what should you look for? Well, it really depends on the credit card issuer.

Chase, CitiCards, Bank of America, and Capital One are all large credit card issuers. They offer cards under the Visa or MasterCard name. They range in features, rewards, and more importantly - the interest rate. They offer the best credit cards that can range from travel rewards to rebate cards. There are many types that you can choose from and some will even let you design your own card!

If you need a new card for your business or just to pay your regular bills - it probably doesn't matter which you get - Visa or MasterCard. Read reviews of cards and pay attention the details on the differences in APR and features before you signup. It all depends on the company - the level of service and other items.

Student Credit Card Site

2008-08-21T16:20:00.000-07:00

There is a new site that launched for college student financial education. Students can read articles on credit card issues/offers, how to effectively build credit, avoid debt, and more!

College Student Credit Card - includes a top 3 best student credit card section. They put in a Discover Card which is excellent and a prepaid Visa card.

The articles on the website are top-notch - written by obvious experts in the financial sector. They include statistics on credit card use, credit card debt, and many other credit/debt related issues.

We found the site very useful and we think you will too!

Welcome to Best Credit Card Offers Blog

2008-06-17T18:50:00.000-07:00

Hello! Thanks for stopping by our new blog.

In the coming days and weeks we'll be posting credit card reviews and ratings of the best credit card offers available on the market today. We post quality reviews taking into consideration the features of the credit card offer. These features include : fees, rates, terms, and other benefits/expenses.

If you'd like to make a comment about a certain card with which you have had personal experience - please do so! We want to find the best credit cards on the web!

We will also be posting credit articles and glossary terms on this blog - so if you have suggestions for content please be our guest and we'll do our best to get the page up!