Mortgage And Credit Card Companies Under The Spotlight On
Consumer Charging
By R.Green
For the first time since May 1996 reports have indicated that
wage increases have risen faster than house price inflation.
According to Nationwide, "The overall picture remains one of a
gently softening market".
The signs indicate that the housing market activity is finally
starting to pick up, with estate agents reporting that buyers
have begun returning to the market and sellers are more willing
to negotiate on prices, however transaction levels are still
reported to be low compared with last year. This represents good
news for buyers looking to get a property, however it stands in
stark contrast to findings from the Council of Mortgage Lenders
(CML) ( http://www.cml.org.uk/ ) showing that the number of
homes being repossessed has risen for the first time in seven
years, from 3,070 six months ago up to 4,640 for the first half
of 2005.
The sharp rise in home repossession applications by lenders
adds to growing concerns that consumers are struggling with
debt. Ed Stansfield of Capital Economics, said, "Today's figures
show that for a small but growing minority of borrowers levels
of debt have become a problem, despite historically low interest
rates.” These figures for repossessions were still, according to
the CML, "extremely low" compared with the early 1990s; however
adverse credit, arrears and repossessions look set to rise.
Richard Brown, Chief Executive of personal finance comparison
site Moneynet ( http://www.moneynet.co.uk ) is disappointed to
recently see, in light of a possible base rate cut, which would
help to ease the burden of mortgage debt within the housing
market that, “many lenders are taking this opportunity to
increase their margins at the expense of their loyal savers by
reducing their fixed savings rates by more than the mortgage
rates”.
The personal debt problems of the nation have also not been
helped by the punitive charging activities of several of the
major lenders.
The Office of Fair Trading (OFT) ( http://www.oft.gov.uk/ ) has
warned eight of the major credit card firms regarding their
activities towards customers who miss payment deadlines or
exceed credit limits, and ordered them to reduce their
“excessive” and "disproportionately high" charges, usually in
excess of £20 per transgression, to consumers or face being
taken to court.
There are currently 30.6 million people in the UK possessing at
least one credit card, with a total of almost £60 billion owed
on them.
The credit card firms have defended the need for late payment
charges claiming that their use was fair, "Only a very small
proportion of customers attract a default charge and as a
responsible lender we must have a process in place to manage
late payments," a spokeswoman for RBS maintained. Which? have
determined that as many as one in four cardholders have been
subject to some form of default charge being imposed on them
within the past six months. With the number of people accruing
charges, the credit firms have admitted they are able to make
£400 million a year from default charges alone, and Barclaycard
has admitted that 43 per cent of its operating income is
generated from these fees.
The OFT have said that the sum being charged by companies is
far in excess of the actual costs to the card firms, for late
payment. "The levels of the default charges imposed by the
credit card companies need to be reduced in order to be fair".
Which? have seen the announcement by the OFT over the credit
card penalty charges not being fair, and the threats of court
action as, “great news”, but also wants other situations where
banks hit customers with unfair charges to also be looked into.
The Chief Executive of Money Advice Scotland, Yvonne Gallacher,
said of the prospect of reduced credit card fees: "This would
make a big difference to the thousands of low-income credit
cardholders who struggle to pay off these fees and charges."
Moneynet is not so optimistic for consumers, and advises for
caution following the OFT announcement, warning that credit card
companies may be looking to increase their profits via
alternative ‘stealth’ charges, “We are concerned that credit
card providers may simply attempt to recoup their lost income
via higher charges for all…Moneynet recommends credit card
customers consider their options before taking out a card -and
take into account all charges as well as the headline interest
rate”, said Richard Brown.
Some moves seem to be getting made to help those most at risk,
but these measures seem to be mainly driven by increased levels
of consumer dissatisfaction, and while house prices still look
expensive compared with incomes, the worst off may not feel a
huge change in their circumstances for some time to come.
About the Author: Richard lives in Edinburgh, occasionally
writing for the personal finance blog Cashzilla (
http://cashzilla.blogspot.com/ ), and staring out the office
window when he should be working.
Source: http://www.isnare.com
Tuesday, July 31, 2007
Friday, July 27, 2007
Credit Card Machines 802 Blog
Find The Best Credit Card Type
By Ron King
There are a variety of credit card types, each claiming to
offer you the best possible deal. Finding the programs and
incentives that works best for you is key to maintaining a good
credit card history.
Each type of credit card offer different benefits. Some are
geared toward the individual consumer, while others are set up
to work for small businesses. To find the type of card that
best fits your needs, let's review some of the options.
Business Cards
A business credit card offers the business owner an opportunity
to keep business and personal expenses separate. The card may
offer special business rewards and saving opportunities that go
above and beyond what the individual card owner has. Since money
management is essential for running a business successfully,
this card may offer an expense management service that helps
track outgoing money. You can obtain additional cards for
employees who may need them for travel expenses and such. You
may also have a higher credit limit than you normally would on
an individual card.
Student Cards
Many credit card companies will issue student cards with lower
credit limits and fewer incentives, helping new card users to
keep their spending in check. However, note that many college
students now graduate with credit balances averaging from
$3,000 to $7,000. With high interest rates, these debts can be
a real problem to pay off.
Debit Cards
Prepaid debit cards are 1 type of credit card that has grown
significantly in recent years. Although it works like a
traditional credit card when making a purchase, that is where
the similarity ends. With a prepaid debit card, you actually
set the credit limit yourself by depositing money into the
debit card’s account. The amount you deposit determines the
credit limit on that card. This is a great way to have the
convenience of a credit card without the possibility of
charging more than you can afford to pay off.
Cards for Bad Credit
Even with bad credit, it is possible to obtain a credit card.
These cards come with some restrictions not typically found on
other types of cards. Your credit limit will be lower and your
interest rate higher. Some may require you to have a secured
card, meaning you have to maintain a savings or some other type
of account that will cover the expenses on the credit card. Once
you have established that you will be responsible in your credit
handling, some, if not all, of your restrictions may be lifted.
Cash Back Cards
Many cards will now offer you cash-back incentives for using
their cards. Depending on how much your balance is, and how
often you use the card, you can earn cash back for your
purchases. Some companies offer 1% off your balance while
others, like Sears, will offer you cash off purchases made in
their store. Either way, if you are planning on using a card,
finding one that will offer you a cash incentive is a smart
choice.
Low-Interest Cards
One of the more recent additions to the credit card world is
the low-interest credit card. These cards offer a significantly
lower interest rate than most of the older cards you may already
have. As balance-transfer cards, most of them offer you the
option of transferring a balance from a higher interest rate
card and, for a specified period of time, your transferred
balance will be at either 0% interest or something quite low.
This can save you a fair amount of money if your plan is to pay
it off.
Reward and Incentive Cards
Since credit cards have become such a lucrative business, many
corporations have jumped on the bandwagon. Even airlines now
offer credit cards that come with a certain amount of frequent
flyer miles attached, depending on your balance and purchases.
If you do a fair amount of traveling, this can be a real bonus.
Along these same lines, reward credit cards are growing in
popularity. Competition is stiff, and many card companies are
now offering different reward or incentive options for using
their cards. Once you accumulate enough points, the rewards
pour in. These can be anything from travel insurance to small
appliances. If you use a card regularly, finding one with a
reward program can really pay off.
Instant Approval Cards
Another form of credit card is the instant approval card. Once
you fill out the application, a quick background check will be
done and you will have your approval almost immediately.
Regular cards can take up to 2 weeks to process. Although you
can get instant approval, this does not always mean you can get
instant credit. Some companies will supply you with a temporary
credit card number and allow you to begin making purchases
immediately, while others will not, due to an increase in
credit card fraud potential.
Protect Your Credit
Since there are so many options in choosing a credit card, you
should do a little research before you apply. Decide what type
of card best fits your needs and apply for that one. Don't go
overboard, though. Applying for too many cards will negatively
affect your credit rating.
And, above all, once you get your new credit card, use it
responsibly.
About the Author: Ron King is a full-time researcher, writer,
and web developer. Visit http://www.new-credit-card-now.com to
learn more about this fascinating subject. Copyright 2005 Ron
King. This article may be reprinted if the resource box is left
intact.
Source: http://www.isnare.com
By Ron King
There are a variety of credit card types, each claiming to
offer you the best possible deal. Finding the programs and
incentives that works best for you is key to maintaining a good
credit card history.
Each type of credit card offer different benefits. Some are
geared toward the individual consumer, while others are set up
to work for small businesses. To find the type of card that
best fits your needs, let's review some of the options.
Business Cards
A business credit card offers the business owner an opportunity
to keep business and personal expenses separate. The card may
offer special business rewards and saving opportunities that go
above and beyond what the individual card owner has. Since money
management is essential for running a business successfully,
this card may offer an expense management service that helps
track outgoing money. You can obtain additional cards for
employees who may need them for travel expenses and such. You
may also have a higher credit limit than you normally would on
an individual card.
Student Cards
Many credit card companies will issue student cards with lower
credit limits and fewer incentives, helping new card users to
keep their spending in check. However, note that many college
students now graduate with credit balances averaging from
$3,000 to $7,000. With high interest rates, these debts can be
a real problem to pay off.
Debit Cards
Prepaid debit cards are 1 type of credit card that has grown
significantly in recent years. Although it works like a
traditional credit card when making a purchase, that is where
the similarity ends. With a prepaid debit card, you actually
set the credit limit yourself by depositing money into the
debit card’s account. The amount you deposit determines the
credit limit on that card. This is a great way to have the
convenience of a credit card without the possibility of
charging more than you can afford to pay off.
Cards for Bad Credit
Even with bad credit, it is possible to obtain a credit card.
These cards come with some restrictions not typically found on
other types of cards. Your credit limit will be lower and your
interest rate higher. Some may require you to have a secured
card, meaning you have to maintain a savings or some other type
of account that will cover the expenses on the credit card. Once
you have established that you will be responsible in your credit
handling, some, if not all, of your restrictions may be lifted.
Cash Back Cards
Many cards will now offer you cash-back incentives for using
their cards. Depending on how much your balance is, and how
often you use the card, you can earn cash back for your
purchases. Some companies offer 1% off your balance while
others, like Sears, will offer you cash off purchases made in
their store. Either way, if you are planning on using a card,
finding one that will offer you a cash incentive is a smart
choice.
Low-Interest Cards
One of the more recent additions to the credit card world is
the low-interest credit card. These cards offer a significantly
lower interest rate than most of the older cards you may already
have. As balance-transfer cards, most of them offer you the
option of transferring a balance from a higher interest rate
card and, for a specified period of time, your transferred
balance will be at either 0% interest or something quite low.
This can save you a fair amount of money if your plan is to pay
it off.
Reward and Incentive Cards
Since credit cards have become such a lucrative business, many
corporations have jumped on the bandwagon. Even airlines now
offer credit cards that come with a certain amount of frequent
flyer miles attached, depending on your balance and purchases.
If you do a fair amount of traveling, this can be a real bonus.
Along these same lines, reward credit cards are growing in
popularity. Competition is stiff, and many card companies are
now offering different reward or incentive options for using
their cards. Once you accumulate enough points, the rewards
pour in. These can be anything from travel insurance to small
appliances. If you use a card regularly, finding one with a
reward program can really pay off.
Instant Approval Cards
Another form of credit card is the instant approval card. Once
you fill out the application, a quick background check will be
done and you will have your approval almost immediately.
Regular cards can take up to 2 weeks to process. Although you
can get instant approval, this does not always mean you can get
instant credit. Some companies will supply you with a temporary
credit card number and allow you to begin making purchases
immediately, while others will not, due to an increase in
credit card fraud potential.
Protect Your Credit
Since there are so many options in choosing a credit card, you
should do a little research before you apply. Decide what type
of card best fits your needs and apply for that one. Don't go
overboard, though. Applying for too many cards will negatively
affect your credit rating.
And, above all, once you get your new credit card, use it
responsibly.
About the Author: Ron King is a full-time researcher, writer,
and web developer. Visit http://www.new-credit-card-now.com to
learn more about this fascinating subject. Copyright 2005 Ron
King. This article may be reprinted if the resource box is left
intact.
Source: http://www.isnare.com
Thursday, July 26, 2007
Credit Card Machines 802 Blog
Credit Card Processing Services: Easy, Cheap And Necessary
By Joel Walsh
Your online business needs to accept credit cards. That’s true
whether your business is the next ebay or you’re just selling
your old collectibles on ebay. You’re simply holding your
business back if you don’t accept the payment method of choice
of the internet. Sadly, many people think they won’t qualify
for a new merchant account to accept credit cards, or that it
will be too expensive or complicated. That might have been true
a few years ago, but not anymore.
Why Anyone Can Accept Credit Cards
* Low cost. In the US, the cost of accepting credit cards is
around $10-$20/month in flat fees, plus a small percentage of
your sales, called a discount rate. For an offline business,
the discount rate is as low as 1.69% (lower for debit cards).
For an online business, discount rates are as low as 2.19%.
Yes, online businesses are considered riskier and therefore are
charged more. Still, 2.19% is much less than even many offline
businesses were paying just five years ago. Non-US business
will likely pay significantly more, but likely not more than a
few hundred dollars a month and maybe a 6% discount rate.
That's still a small price to pay to build a thriving online
business.
* No upfront fees. There are now merchant account providers
that charge nothing upfront–no application fee, no deposit.
(For US businesses only.)
* No minimum number of sales. If you sell nothing in a given
month, that's fine. Your account won't be cancelled so long as
you pay a small minimum fee in lieu of transactions (usually
around $25-$35/month).
* Low credit threshold. Believe it or not, qualifying for a
merchant account to accept credit card payments is easier than
qualifying for a credit card account. Even people who have a
bankruptcy on their credit report may qualify for a merchant
account (though they'll be in a more expensive higher-risk
category). The credit check only takes a few minutes. Just give
the representative your Social Security number or EIN and you're
done. For non-US businesses, the credit check might be a little
more in-depth, but not impossibly so.
Why You Need to Accept Credit Cards
1. Prestige. Admit it: you can't be a real business if you
don't take credit cards. At least, that's how the average
consumer or entrepreneur sees it.
2. Trust. Accepting credit cards means your name, address, and
social security numbers are on file somewhere with a bank, so
you're a lot less likely to be a crook. It also means that your
customers can dispute the transaction if you don't put out the
goods.
3. Sales. Online customers make the vast majority of their
purchases with a credit card. They are not going to change
their ways for you.
4. Western Union isn't enough. Bank wires offer very little
consumer protection, so no one trusts them for paying online.
Besides, most people have never used it before, and again,
they're not going to change their ways for you.
5. PayPal isn't enough. Some people simply don't trust it.
There are entire websites devoted to horror stories with
PayPal. Other prospective customers worry about having to set
up a PayPal account to make payment. Even a slight doubt is
enough to send many visitors to the "back" button. Don't leave
room for doubt.
Why Accepting Payments Online Is Easy
* Easy-to-use gateway websites. With most merchant accounts,
you get a login on a website of a "gateway" which lets you
manage your entire account with up-to-the-minute information.
It's very similar to online banking.
* Technical support. Most merchant account providers offer
telephone and email technical support to help you figure out
how to use your account, including how to integrate it with
your website. Tip: choose a provider with 24/7/365 technical
support over the phone–and that doesn't charge an additional
fee.
* Preconfigured shopping carts and web payment forms. You won't
have to do anything to your website if you opt to use a shopping
cart of payment form that's already been set up by your payment
processor. Just link to it from your website and you're done.
Why Applying to Accept Credit Cards Is Easy
* Online and telephone applications. You don't have to mail
anything.
* Fast. You can apply for a merchant account to accept credit
cards in the morning and be taking payments in the afternoon.
* No contract. Some credit card merchant account providers do
not require an annual contract (for US businesses). The
arrangement is strictly month-to-month. Of course, there are
still companies that will try to lock you into a year-long
contract, so be careful.
See how easy it is to take credit card payments? Don't wait any
longer. Apply for a credit card merchant gateway today. It's
easy to do, and your business needs it. Once you're taking
credit card payments, you won't be be just like a real
business–you will be a real business.
About the Author: Joel Walsh is owner of the website
http://UpMarketMerchant.com. Get more information about credit
card processing services: http://www.UpMarketMerchant.com
[Publish this article on your website! Requirements: 1. Live
link for above URL/web address. 2. Link anchor text: "credit
card processing services"]
Source: http://www.isnare.com
By Joel Walsh
Your online business needs to accept credit cards. That’s true
whether your business is the next ebay or you’re just selling
your old collectibles on ebay. You’re simply holding your
business back if you don’t accept the payment method of choice
of the internet. Sadly, many people think they won’t qualify
for a new merchant account to accept credit cards, or that it
will be too expensive or complicated. That might have been true
a few years ago, but not anymore.
Why Anyone Can Accept Credit Cards
* Low cost. In the US, the cost of accepting credit cards is
around $10-$20/month in flat fees, plus a small percentage of
your sales, called a discount rate. For an offline business,
the discount rate is as low as 1.69% (lower for debit cards).
For an online business, discount rates are as low as 2.19%.
Yes, online businesses are considered riskier and therefore are
charged more. Still, 2.19% is much less than even many offline
businesses were paying just five years ago. Non-US business
will likely pay significantly more, but likely not more than a
few hundred dollars a month and maybe a 6% discount rate.
That's still a small price to pay to build a thriving online
business.
* No upfront fees. There are now merchant account providers
that charge nothing upfront–no application fee, no deposit.
(For US businesses only.)
* No minimum number of sales. If you sell nothing in a given
month, that's fine. Your account won't be cancelled so long as
you pay a small minimum fee in lieu of transactions (usually
around $25-$35/month).
* Low credit threshold. Believe it or not, qualifying for a
merchant account to accept credit card payments is easier than
qualifying for a credit card account. Even people who have a
bankruptcy on their credit report may qualify for a merchant
account (though they'll be in a more expensive higher-risk
category). The credit check only takes a few minutes. Just give
the representative your Social Security number or EIN and you're
done. For non-US businesses, the credit check might be a little
more in-depth, but not impossibly so.
Why You Need to Accept Credit Cards
1. Prestige. Admit it: you can't be a real business if you
don't take credit cards. At least, that's how the average
consumer or entrepreneur sees it.
2. Trust. Accepting credit cards means your name, address, and
social security numbers are on file somewhere with a bank, so
you're a lot less likely to be a crook. It also means that your
customers can dispute the transaction if you don't put out the
goods.
3. Sales. Online customers make the vast majority of their
purchases with a credit card. They are not going to change
their ways for you.
4. Western Union isn't enough. Bank wires offer very little
consumer protection, so no one trusts them for paying online.
Besides, most people have never used it before, and again,
they're not going to change their ways for you.
5. PayPal isn't enough. Some people simply don't trust it.
There are entire websites devoted to horror stories with
PayPal. Other prospective customers worry about having to set
up a PayPal account to make payment. Even a slight doubt is
enough to send many visitors to the "back" button. Don't leave
room for doubt.
Why Accepting Payments Online Is Easy
* Easy-to-use gateway websites. With most merchant accounts,
you get a login on a website of a "gateway" which lets you
manage your entire account with up-to-the-minute information.
It's very similar to online banking.
* Technical support. Most merchant account providers offer
telephone and email technical support to help you figure out
how to use your account, including how to integrate it with
your website. Tip: choose a provider with 24/7/365 technical
support over the phone–and that doesn't charge an additional
fee.
* Preconfigured shopping carts and web payment forms. You won't
have to do anything to your website if you opt to use a shopping
cart of payment form that's already been set up by your payment
processor. Just link to it from your website and you're done.
Why Applying to Accept Credit Cards Is Easy
* Online and telephone applications. You don't have to mail
anything.
* Fast. You can apply for a merchant account to accept credit
cards in the morning and be taking payments in the afternoon.
* No contract. Some credit card merchant account providers do
not require an annual contract (for US businesses). The
arrangement is strictly month-to-month. Of course, there are
still companies that will try to lock you into a year-long
contract, so be careful.
See how easy it is to take credit card payments? Don't wait any
longer. Apply for a credit card merchant gateway today. It's
easy to do, and your business needs it. Once you're taking
credit card payments, you won't be be just like a real
business–you will be a real business.
About the Author: Joel Walsh is owner of the website
http://UpMarketMerchant.com. Get more information about credit
card processing services: http://www.UpMarketMerchant.com
[Publish this article on your website! Requirements: 1. Live
link for above URL/web address. 2. Link anchor text: "credit
card processing services"]
Source: http://www.isnare.com
Tuesday, July 24, 2007
Credit Card Machines 802 Blog
Find The Best Credit Card Type
By Ron King
There are a variety of credit card types, each claiming to
offer you the best possible deal. Finding the programs and
incentives that works best for you is key to maintaining a good
credit card history.
Each type of credit card offer different benefits. Some are
geared toward the individual consumer, while others are set up
to work for small businesses. To find the type of card that
best fits your needs, let's review some of the options.
Business Cards
A business credit card offers the business owner an opportunity
to keep business and personal expenses separate. The card may
offer special business rewards and saving opportunities that go
above and beyond what the individual card owner has. Since money
management is essential for running a business successfully,
this card may offer an expense management service that helps
track outgoing money. You can obtain additional cards for
employees who may need them for travel expenses and such. You
may also have a higher credit limit than you normally would on
an individual card.
Student Cards
Many credit card companies will issue student cards with lower
credit limits and fewer incentives, helping new card users to
keep their spending in check. However, note that many college
students now graduate with credit balances averaging from
$3,000 to $7,000. With high interest rates, these debts can be
a real problem to pay off.
Debit Cards
Prepaid debit cards are 1 type of credit card that has grown
significantly in recent years. Although it works like a
traditional credit card when making a purchase, that is where
the similarity ends. With a prepaid debit card, you actually
set the credit limit yourself by depositing money into the
debit card’s account. The amount you deposit determines the
credit limit on that card. This is a great way to have the
convenience of a credit card without the possibility of
charging more than you can afford to pay off.
Cards for Bad Credit
Even with bad credit, it is possible to obtain a credit card.
These cards come with some restrictions not typically found on
other types of cards. Your credit limit will be lower and your
interest rate higher. Some may require you to have a secured
card, meaning you have to maintain a savings or some other type
of account that will cover the expenses on the credit card. Once
you have established that you will be responsible in your credit
handling, some, if not all, of your restrictions may be lifted.
Cash Back Cards
Many cards will now offer you cash-back incentives for using
their cards. Depending on how much your balance is, and how
often you use the card, you can earn cash back for your
purchases. Some companies offer 1% off your balance while
others, like Sears, will offer you cash off purchases made in
their store. Either way, if you are planning on using a card,
finding one that will offer you a cash incentive is a smart
choice.
Low-Interest Cards
One of the more recent additions to the credit card world is
the low-interest credit card. These cards offer a significantly
lower interest rate than most of the older cards you may already
have. As balance-transfer cards, most of them offer you the
option of transferring a balance from a higher interest rate
card and, for a specified period of time, your transferred
balance will be at either 0% interest or something quite low.
This can save you a fair amount of money if your plan is to pay
it off.
Reward and Incentive Cards
Since credit cards have become such a lucrative business, many
corporations have jumped on the bandwagon. Even airlines now
offer credit cards that come with a certain amount of frequent
flyer miles attached, depending on your balance and purchases.
If you do a fair amount of traveling, this can be a real bonus.
Along these same lines, reward credit cards are growing in
popularity. Competition is stiff, and many card companies are
now offering different reward or incentive options for using
their cards. Once you accumulate enough points, the rewards
pour in. These can be anything from travel insurance to small
appliances. If you use a card regularly, finding one with a
reward program can really pay off.
Instant Approval Cards
Another form of credit card is the instant approval card. Once
you fill out the application, a quick background check will be
done and you will have your approval almost immediately.
Regular cards can take up to 2 weeks to process. Although you
can get instant approval, this does not always mean you can get
instant credit. Some companies will supply you with a temporary
credit card number and allow you to begin making purchases
immediately, while others will not, due to an increase in
credit card fraud potential.
Protect Your Credit
Since there are so many options in choosing a credit card, you
should do a little research before you apply. Decide what type
of card best fits your needs and apply for that one. Don't go
overboard, though. Applying for too many cards will negatively
affect your credit rating.
And, above all, once you get your new credit card, use it
responsibly.
About the Author: Ron King is a full-time researcher, writer,
and web developer. Visit http://www.new-credit-card-now.com to
learn more about this fascinating subject. Copyright 2005 Ron
King. This article may be reprinted if the resource box is left
intact.
Source: http://www.isnare.com
By Ron King
There are a variety of credit card types, each claiming to
offer you the best possible deal. Finding the programs and
incentives that works best for you is key to maintaining a good
credit card history.
Each type of credit card offer different benefits. Some are
geared toward the individual consumer, while others are set up
to work for small businesses. To find the type of card that
best fits your needs, let's review some of the options.
Business Cards
A business credit card offers the business owner an opportunity
to keep business and personal expenses separate. The card may
offer special business rewards and saving opportunities that go
above and beyond what the individual card owner has. Since money
management is essential for running a business successfully,
this card may offer an expense management service that helps
track outgoing money. You can obtain additional cards for
employees who may need them for travel expenses and such. You
may also have a higher credit limit than you normally would on
an individual card.
Student Cards
Many credit card companies will issue student cards with lower
credit limits and fewer incentives, helping new card users to
keep their spending in check. However, note that many college
students now graduate with credit balances averaging from
$3,000 to $7,000. With high interest rates, these debts can be
a real problem to pay off.
Debit Cards
Prepaid debit cards are 1 type of credit card that has grown
significantly in recent years. Although it works like a
traditional credit card when making a purchase, that is where
the similarity ends. With a prepaid debit card, you actually
set the credit limit yourself by depositing money into the
debit card’s account. The amount you deposit determines the
credit limit on that card. This is a great way to have the
convenience of a credit card without the possibility of
charging more than you can afford to pay off.
Cards for Bad Credit
Even with bad credit, it is possible to obtain a credit card.
These cards come with some restrictions not typically found on
other types of cards. Your credit limit will be lower and your
interest rate higher. Some may require you to have a secured
card, meaning you have to maintain a savings or some other type
of account that will cover the expenses on the credit card. Once
you have established that you will be responsible in your credit
handling, some, if not all, of your restrictions may be lifted.
Cash Back Cards
Many cards will now offer you cash-back incentives for using
their cards. Depending on how much your balance is, and how
often you use the card, you can earn cash back for your
purchases. Some companies offer 1% off your balance while
others, like Sears, will offer you cash off purchases made in
their store. Either way, if you are planning on using a card,
finding one that will offer you a cash incentive is a smart
choice.
Low-Interest Cards
One of the more recent additions to the credit card world is
the low-interest credit card. These cards offer a significantly
lower interest rate than most of the older cards you may already
have. As balance-transfer cards, most of them offer you the
option of transferring a balance from a higher interest rate
card and, for a specified period of time, your transferred
balance will be at either 0% interest or something quite low.
This can save you a fair amount of money if your plan is to pay
it off.
Reward and Incentive Cards
Since credit cards have become such a lucrative business, many
corporations have jumped on the bandwagon. Even airlines now
offer credit cards that come with a certain amount of frequent
flyer miles attached, depending on your balance and purchases.
If you do a fair amount of traveling, this can be a real bonus.
Along these same lines, reward credit cards are growing in
popularity. Competition is stiff, and many card companies are
now offering different reward or incentive options for using
their cards. Once you accumulate enough points, the rewards
pour in. These can be anything from travel insurance to small
appliances. If you use a card regularly, finding one with a
reward program can really pay off.
Instant Approval Cards
Another form of credit card is the instant approval card. Once
you fill out the application, a quick background check will be
done and you will have your approval almost immediately.
Regular cards can take up to 2 weeks to process. Although you
can get instant approval, this does not always mean you can get
instant credit. Some companies will supply you with a temporary
credit card number and allow you to begin making purchases
immediately, while others will not, due to an increase in
credit card fraud potential.
Protect Your Credit
Since there are so many options in choosing a credit card, you
should do a little research before you apply. Decide what type
of card best fits your needs and apply for that one. Don't go
overboard, though. Applying for too many cards will negatively
affect your credit rating.
And, above all, once you get your new credit card, use it
responsibly.
About the Author: Ron King is a full-time researcher, writer,
and web developer. Visit http://www.new-credit-card-now.com to
learn more about this fascinating subject. Copyright 2005 Ron
King. This article may be reprinted if the resource box is left
intact.
Source: http://www.isnare.com
Friday, July 20, 2007
Credit Card Machines 802 Blog
The "Credit Card Debt Termination" Scam
By Charles Phelan
"Legally terminate credit card debt! You can be debt-free in
4-6 months!" Advertisements like this are for a new type of
program that has spread via the Internet over the past few
years. It's called "Credit Card Debt Termination," and victims
are paying up to $3,500 for this bogus service. In this
article, I'll review the principles behind this program and
explain exactly why it's a scam to be avoided.
First, let's get our definitions straight. The scheme I'm
describing here should not be confused with Debt Consolidation
or Debt Settlement (also known as Debt Negotiation), both of
which are legitimate and ethical methods for debt resolution.
The easiest way to distinguish the Credit Card Debt Termination
scam from other valid programs is based on the central claim
that you really don't owe any money!
With Debt Consolidation, you pay back all of your debt
balances. With Debt Settlement, you pay back a lower amount
(usually around 50%) while the creditor agrees to forgive the
remaining balance. However, with the bogus Credit Card Debt
Termination program, promoters claim that you won't need to pay
anything at all (except their outrageous fees, naturally). They
make the surprising claim that you can legally wipe away your
debts simply by using their super-duper magic documents. Based
on some legal mumbo-jumbo, the claim is made that you really
didn't borrow any money from your creditors!
In order to understand this scam, a little background is
necessary. Remember the tax protest movement back in the 1970s?
People were claiming that the IRS tax collection system was
unconstitutional, and based on their misinterpretation of the
tax code, they refused to pay taxes. The IRS came down hard on
the tax protest movement, and through the court system, they
blew holes in all the legal arguments put forth by the
protesters. The Credit Card Debt Termination scam is a lot like
the tax protest movement. In fact, among collection
professionals, it's called the "monetary protest movement."
Just like the tax protest movement, there is a common theme
that runs through all of the promotional materials issued by
the monetary protestors. The basic idea is that our Federal
Reserve monetary system and generally accepted accounting
principles (GAAP) do not permit banks to loan out their own
money. Therefore, according to their interpretation, the credit
card banks are the ones running the scam on the American public.
Stay with me here, because the logic is pretty strange. If a
bank cannot lend its own money, how does a credit card bank
extend credit? The claim here is that your credit card
agreement itself becomes a form of money (known as a promissory
note) the moment you sign it. The idea is that the bank
"deposits" your agreement as an asset on their books, and then
any credit you use is offset as a liability against that asset.
In other words, the core concept here is that you literally
borrowed your own money from the credit card bank.
So let's say your balance with ABC Credit Card Bank is $10,000,
which you borrowed against the card to make everyday purchases.
The scam promoters say all you need to do is notify the bank
that you want your original "deposit" back. However, you will
permit the bank to offset the amount you borrowed against the
amount you have on "deposit." Presto! You don't owe the balance
anymore!
Now, as you can imagine, the banks don't take kindly to such
tactics. Many of the consumers using this technique are getting
sued by their creditors. But the scammers have more tricks
available, as if the "smoke and mirrors" financial nonsense
wasn't enough. One of their techniques is the use of bogus
"arbitration" forums. Arbitration is of course a legitimate
system that allows businesses and individuals to resolve
disputes without going to court. What do the scammers do? They
coach people on how to set up a fake arbitration forum, for the
express purpose of making a dispute against their creditors!
Naturally, the creditors will not send representatives to some
non-existent arbitration forum, so the consumer gets to
rubber-stamp their own arbitration award. If they get sued in a
regular court, they present their bogus award to the judge in
the hopes that the creditor's lawsuit will be dismissed.
There are other techniques used by promoters of this scheme,
but the key point to remember is the central claim that your
credit card debt does not really exist. Of course, it's all
nonsense based on a misinterpretation of our monetary system,
and if you step back and think about for a minute, the truth
seems pretty obvious. What these scammers are saying is that
the entire $700 billion credit card industry is operating on an
illegal basis! Even if the legal theory used by the promoters
were true (which it isn't), do you think for a moment the
government would allow this giant industry to go under? That's
exactly what would happen if the promoter's claims were proven
true and used on a widespread basis.
The Federal Trade Commission, which has jurisdiction here,
hasn't stomped on these con artists yet, but it's only a matter
of time. Unfortunately, in the meanwhile, consumers are being
bilked out of millions of dollars for a worthless program that
will only get them into deep trouble with their creditors. If
you are approached by someone offering to wipe away your debts
using this system, I strongly recommend you run in the other
direction while you hold on tightly to your wallet or purse.
Remember, you can eliminate your debts if you take a
disciplined approach to your finances, make a budget and stick
to it, and don't use your credit cards unless you can pay off
new balances in full each month.
Good luck in your financial future!
About the Author: Charles J. Phelan has been helping people
become debt-free without bankruptcy since 1997. A former
executive in the debt settlement industry, he teaches the
do-it-yourself method of debt negotiation. Audio-CD material
plus expert personal coaching helps consumers achieve
professional results at a fraction of the cost.
http://www.zipdebt.com
Source: http://www.isnare.com
By Charles Phelan
"Legally terminate credit card debt! You can be debt-free in
4-6 months!" Advertisements like this are for a new type of
program that has spread via the Internet over the past few
years. It's called "Credit Card Debt Termination," and victims
are paying up to $3,500 for this bogus service. In this
article, I'll review the principles behind this program and
explain exactly why it's a scam to be avoided.
First, let's get our definitions straight. The scheme I'm
describing here should not be confused with Debt Consolidation
or Debt Settlement (also known as Debt Negotiation), both of
which are legitimate and ethical methods for debt resolution.
The easiest way to distinguish the Credit Card Debt Termination
scam from other valid programs is based on the central claim
that you really don't owe any money!
With Debt Consolidation, you pay back all of your debt
balances. With Debt Settlement, you pay back a lower amount
(usually around 50%) while the creditor agrees to forgive the
remaining balance. However, with the bogus Credit Card Debt
Termination program, promoters claim that you won't need to pay
anything at all (except their outrageous fees, naturally). They
make the surprising claim that you can legally wipe away your
debts simply by using their super-duper magic documents. Based
on some legal mumbo-jumbo, the claim is made that you really
didn't borrow any money from your creditors!
In order to understand this scam, a little background is
necessary. Remember the tax protest movement back in the 1970s?
People were claiming that the IRS tax collection system was
unconstitutional, and based on their misinterpretation of the
tax code, they refused to pay taxes. The IRS came down hard on
the tax protest movement, and through the court system, they
blew holes in all the legal arguments put forth by the
protesters. The Credit Card Debt Termination scam is a lot like
the tax protest movement. In fact, among collection
professionals, it's called the "monetary protest movement."
Just like the tax protest movement, there is a common theme
that runs through all of the promotional materials issued by
the monetary protestors. The basic idea is that our Federal
Reserve monetary system and generally accepted accounting
principles (GAAP) do not permit banks to loan out their own
money. Therefore, according to their interpretation, the credit
card banks are the ones running the scam on the American public.
Stay with me here, because the logic is pretty strange. If a
bank cannot lend its own money, how does a credit card bank
extend credit? The claim here is that your credit card
agreement itself becomes a form of money (known as a promissory
note) the moment you sign it. The idea is that the bank
"deposits" your agreement as an asset on their books, and then
any credit you use is offset as a liability against that asset.
In other words, the core concept here is that you literally
borrowed your own money from the credit card bank.
So let's say your balance with ABC Credit Card Bank is $10,000,
which you borrowed against the card to make everyday purchases.
The scam promoters say all you need to do is notify the bank
that you want your original "deposit" back. However, you will
permit the bank to offset the amount you borrowed against the
amount you have on "deposit." Presto! You don't owe the balance
anymore!
Now, as you can imagine, the banks don't take kindly to such
tactics. Many of the consumers using this technique are getting
sued by their creditors. But the scammers have more tricks
available, as if the "smoke and mirrors" financial nonsense
wasn't enough. One of their techniques is the use of bogus
"arbitration" forums. Arbitration is of course a legitimate
system that allows businesses and individuals to resolve
disputes without going to court. What do the scammers do? They
coach people on how to set up a fake arbitration forum, for the
express purpose of making a dispute against their creditors!
Naturally, the creditors will not send representatives to some
non-existent arbitration forum, so the consumer gets to
rubber-stamp their own arbitration award. If they get sued in a
regular court, they present their bogus award to the judge in
the hopes that the creditor's lawsuit will be dismissed.
There are other techniques used by promoters of this scheme,
but the key point to remember is the central claim that your
credit card debt does not really exist. Of course, it's all
nonsense based on a misinterpretation of our monetary system,
and if you step back and think about for a minute, the truth
seems pretty obvious. What these scammers are saying is that
the entire $700 billion credit card industry is operating on an
illegal basis! Even if the legal theory used by the promoters
were true (which it isn't), do you think for a moment the
government would allow this giant industry to go under? That's
exactly what would happen if the promoter's claims were proven
true and used on a widespread basis.
The Federal Trade Commission, which has jurisdiction here,
hasn't stomped on these con artists yet, but it's only a matter
of time. Unfortunately, in the meanwhile, consumers are being
bilked out of millions of dollars for a worthless program that
will only get them into deep trouble with their creditors. If
you are approached by someone offering to wipe away your debts
using this system, I strongly recommend you run in the other
direction while you hold on tightly to your wallet or purse.
Remember, you can eliminate your debts if you take a
disciplined approach to your finances, make a budget and stick
to it, and don't use your credit cards unless you can pay off
new balances in full each month.
Good luck in your financial future!
About the Author: Charles J. Phelan has been helping people
become debt-free without bankruptcy since 1997. A former
executive in the debt settlement industry, he teaches the
do-it-yourself method of debt negotiation. Audio-CD material
plus expert personal coaching helps consumers achieve
professional results at a fraction of the cost.
http://www.zipdebt.com
Source: http://www.isnare.com
Wednesday, July 18, 2007
Credit Card Machines 802 Blog
Get Credit Card Processing for Your Internet Business
Get Credit Card Processing for Your Internet Business
By Jeremy Zongker
One of the best features of owning an online-based business is the amount of money you save on start up costs, and ongoing overhead in comparison to businesses with physical locations. Not only do you not have to pay high rental or mortgage payments for the space, but you save on utilities, business insurance, and even credit card processing accounts!
As an Internet business, you almost have a requirement to accept credit card payments for your products or services. Have you ever been to a website that doesn’t accept credit cards as payment? Consider how you would feel if you wanted to purchase something online but you couldn’t enter your payment details in the site- would you take the time to write a check, put it in an envelope and mail to the company or would you just find the next website offering the same products that DOES accept credit cards? Web sites that accept credit card payments have sales that are 50-400% higher than web sites that do not accept credit payments. It is so easy to get set up to accept credit card payments that there really is no excuse for an Internet business not to accept them!
As a web business, you have a choice. You can apply for a traditional merchant account at any of the local banks and hope to get accepted (and likely pay a set up fee and sometimes an ongoing monthly fee for having the service), or you can use one of the numerous card processing companies that operate online and are geared toward online businesses just like yours. Many of the card processing providers you can use online allow you to set up your website for accepting credit cards with no set up fees!
When you are just starting out as an online business, or you are a small business- you are probably not going to want any credit card processing provider that requires you process a minimum number of transactions each month. It is hard to predict what your minimum will be for a new business, and it might be better to pay a slightly higher per-transaction fee than to pay a higher monthly fee in exchange for a lower per-transaction fee based on a minimum number of cards processed each month.
Paynet Systems: Offers a variety of merchant accounts, with a few focused on Internet based businesses. You can get your account set up to accept credit card payments (ATM, and Debit also) for no set up fee. You pay a small monthly fee for the account ($8-10) and fees per transaction processed.
Merchant Express: Offers a merchant account for Internet businesses that can accept credit card payments in real-time. Your account with Merchant Express will also give you access to a free “virtual terminal”, which will allow you to accept credit card payments by phone or mail as well as online.
Charge.com: Similar to Merchant Express in that it provides both a real time processor for web site orders, and a virtual terminal in case your customers provide their payment information via telephone, fax or mail. The software will automatically send you an email to help you fill the customer’s order once the card has been successfully processed.
There are many other providers that allow internet merchant account providers that can set your internet business up with the ability to accept credit card payments at no set up fee. Researching each company before signing up will help you compare the features and make sure you sign with a company that can provide you with the necessary options for your business and at the lowest fees.
This article has been provided by Creditor Web. Creditor Web has the articles and other credit card processing resources to help you choose the right provider.
Article Source: http://EzineArticles.com/?expert=Jeremy_Zongker
http://EzineArticles.com/?Get-Credit-Card-Processing-for-Your-Internet-Business&id=450368
Friday, July 13, 2007
Credit Card Machines 802 Blog
Choosing The Right Credit Card
By Mike Collins
They come day after day after day. Sometimes two, three, or
four at a time. Credit card offers. The credit card industry is
highly competitive and banks and other financial institutions
are constantly sending out mass mailings in an attempt to lure
potential customers to switch credit card providers.
And while it is generally not advisable to regularly open new
credit accounts, there are times when doing so can be
advantageous. But how do you compare all of the credit card
offers to know that you are choosing the right credit card?
There are a few things that you should compare and consider
before making your choice.
The interest rate. Obviously the higher the interest rate, the
more you will pay in interest charges. So the lower the rate
the better. Many cards now offer zero-percent introductory
rates for periods of up to a year. Transferring a balance to a
card like this can be an effective way to pay down your debt
quickly. But you have to read the fine print.
Credit card companies usually apply your payment to the debt
with the highest interest rate first. So if your interest rate
on purchases is 12 percent, your payment will be applied to
that balance until it is paid off and then you will begin
paying off the zero-percent portion. Because of this policy,
many people realize little savings in transferring their
balance to a zero-percent card. In order to take full advantage
of the policy, you should not make any purchases on the
zero-percent card. This will ensure that the balance will be
reduced as much as possible before the introductory offer ends.
Reward programs are great ways to gain prizes or cash back by
making purchases. Some cards will actually give you a small
percentage (about one or two percent) of your purchases back as
cash. Others let you earn points that can be redeemed for all
sorts of merchandise, airline tickets, or gift certificates.
Reward programs are a great bonus, as long as you are not
paying extra for it. A higher interest rate will quickly
eliminate any savings you receive through the reward program.
Annual Fees or Service Charges. I have never used a credit card
that charges any kind of annual fee. It just makes no sense to
me. There are so many credit card companies out there competing
for my business, why should I have to pay for the privilege of
using a particular card. Even if the card offers frequent-flyer
miles or cash back, the annual fee will reduce or even eliminate
the benefit gained. Shop around and you can find a card just as
good with no annual fee.
Keep these 3 things in mind when you are comparing the credit
offer and you can be confident that you are choosing the right
credit card.
About the Author: Mike Collins is the owner of
http://www.saving-money-and-living-debt-free.com, a friendly
guide to saving money, making extra money, and getting out of
debt.
Source: http://www.isnare.com
By Mike Collins
They come day after day after day. Sometimes two, three, or
four at a time. Credit card offers. The credit card industry is
highly competitive and banks and other financial institutions
are constantly sending out mass mailings in an attempt to lure
potential customers to switch credit card providers.
And while it is generally not advisable to regularly open new
credit accounts, there are times when doing so can be
advantageous. But how do you compare all of the credit card
offers to know that you are choosing the right credit card?
There are a few things that you should compare and consider
before making your choice.
The interest rate. Obviously the higher the interest rate, the
more you will pay in interest charges. So the lower the rate
the better. Many cards now offer zero-percent introductory
rates for periods of up to a year. Transferring a balance to a
card like this can be an effective way to pay down your debt
quickly. But you have to read the fine print.
Credit card companies usually apply your payment to the debt
with the highest interest rate first. So if your interest rate
on purchases is 12 percent, your payment will be applied to
that balance until it is paid off and then you will begin
paying off the zero-percent portion. Because of this policy,
many people realize little savings in transferring their
balance to a zero-percent card. In order to take full advantage
of the policy, you should not make any purchases on the
zero-percent card. This will ensure that the balance will be
reduced as much as possible before the introductory offer ends.
Reward programs are great ways to gain prizes or cash back by
making purchases. Some cards will actually give you a small
percentage (about one or two percent) of your purchases back as
cash. Others let you earn points that can be redeemed for all
sorts of merchandise, airline tickets, or gift certificates.
Reward programs are a great bonus, as long as you are not
paying extra for it. A higher interest rate will quickly
eliminate any savings you receive through the reward program.
Annual Fees or Service Charges. I have never used a credit card
that charges any kind of annual fee. It just makes no sense to
me. There are so many credit card companies out there competing
for my business, why should I have to pay for the privilege of
using a particular card. Even if the card offers frequent-flyer
miles or cash back, the annual fee will reduce or even eliminate
the benefit gained. Shop around and you can find a card just as
good with no annual fee.
Keep these 3 things in mind when you are comparing the credit
offer and you can be confident that you are choosing the right
credit card.
About the Author: Mike Collins is the owner of
http://www.saving-money-and-living-debt-free.com, a friendly
guide to saving money, making extra money, and getting out of
debt.
Source: http://www.isnare.com
Thursday, July 12, 2007
Credit Card Machine 802 Blog
Credit Card Machines
By Alan Jason Smith
Credit Cards Machines come in all shapes and styles. Credit
card machines come in a variety of price ranges, offering
enough choices that you can select exactly the model your
business would thrive with. Credit card machines are a must for
any business to succeed in today’s market. Credit card machines
tap into the most popular form of payment for products and
services: credit cards. Since the evolution of the atm card
into a debit card, credit card machines have developed many
talents. Credit card machines can run payments on a card as a
check, as a debt transaction straight from a checking account,
or as a credit card payment that a patron will pay at a later
date as decided by the credit card company.
Credit card machines offer the security of positive payment. A
credit card machine offers increased reliability, ensuring
money is in an account before your clients leave with product.
Money saved in bad check recovery more than makes up for the
cost of credit card machines. There are many different kinds of
credit card machines.
Some credit card machines tap into the credit system without a
printer. These terminals make sense for mail order or phone
order businesses. When a merchant does not need to issue a
receipt of sale at the time of the sale, the merchant can save
money by not buying a terminal-printer combo.
Credit card machines without a printer are the cheapest
machines, costing between two hundred and five hundred dollars.
Landscaping, locksmith, and plumbing businesses, businesses
where travel and on-site payment is required without immediate
access to a credit card terminal, all benefit from credit card
machines lacking printers.
Credit card machines that include a printer are the most common
form of credit card machine used in industry today. Printers on
credit card machines can be integrated impact or thermal. A
single unit dually functions to process the credit card
transaction and then to print a receipt. These machines can be
more expensive than those terminals without printers, but they
are reasonable and effective in medium volume retail. These
credit card machines range from under three hundred dollars to
nine hundred dollars. Additional options can be ordered, such
as a built in pin pad. These enable customers to enter their
pin number for debit transactions without the merchant needing
to purchase an additional machine. Some credit card machines
with built in printers require ink cartridges, but some do not.
While those that do not require ink cartridges may be slightly
more expensive they may save time and add efficiency to sales.
Wireless credit card machines provide the same functions of
general credit card machines with a few overwhelming
advantages. Wireless credit card machines do not require
separate wires to trip on. They do not require a separate phone
line. Wireless credit card machines access credit systems
faster, and provide faster turn around on sales. Wireless
credit card machines are more expensive and require wireless
service packages, but may be a must for high volume businesses.
They are effective and reliable, consisting of the most up to
date technology.
Regardless of the type of credit card machine you choose to
invest in, credit card machines can aide your business. Credit
card machines are a must for the twenty-first century and have
advanced to be more effective for you and for your customers.
About the Author: Alan Jason Smith is the owner of
http://www.creditcardspdq.com which is a great place to find
credit card links, resources and articles. For more information
go to: http://www.creditcardspdq.com
Source: http://www.isnare.com
By Alan Jason Smith
Credit Cards Machines come in all shapes and styles. Credit
card machines come in a variety of price ranges, offering
enough choices that you can select exactly the model your
business would thrive with. Credit card machines are a must for
any business to succeed in today’s market. Credit card machines
tap into the most popular form of payment for products and
services: credit cards. Since the evolution of the atm card
into a debit card, credit card machines have developed many
talents. Credit card machines can run payments on a card as a
check, as a debt transaction straight from a checking account,
or as a credit card payment that a patron will pay at a later
date as decided by the credit card company.
Credit card machines offer the security of positive payment. A
credit card machine offers increased reliability, ensuring
money is in an account before your clients leave with product.
Money saved in bad check recovery more than makes up for the
cost of credit card machines. There are many different kinds of
credit card machines.
Some credit card machines tap into the credit system without a
printer. These terminals make sense for mail order or phone
order businesses. When a merchant does not need to issue a
receipt of sale at the time of the sale, the merchant can save
money by not buying a terminal-printer combo.
Credit card machines without a printer are the cheapest
machines, costing between two hundred and five hundred dollars.
Landscaping, locksmith, and plumbing businesses, businesses
where travel and on-site payment is required without immediate
access to a credit card terminal, all benefit from credit card
machines lacking printers.
Credit card machines that include a printer are the most common
form of credit card machine used in industry today. Printers on
credit card machines can be integrated impact or thermal. A
single unit dually functions to process the credit card
transaction and then to print a receipt. These machines can be
more expensive than those terminals without printers, but they
are reasonable and effective in medium volume retail. These
credit card machines range from under three hundred dollars to
nine hundred dollars. Additional options can be ordered, such
as a built in pin pad. These enable customers to enter their
pin number for debit transactions without the merchant needing
to purchase an additional machine. Some credit card machines
with built in printers require ink cartridges, but some do not.
While those that do not require ink cartridges may be slightly
more expensive they may save time and add efficiency to sales.
Wireless credit card machines provide the same functions of
general credit card machines with a few overwhelming
advantages. Wireless credit card machines do not require
separate wires to trip on. They do not require a separate phone
line. Wireless credit card machines access credit systems
faster, and provide faster turn around on sales. Wireless
credit card machines are more expensive and require wireless
service packages, but may be a must for high volume businesses.
They are effective and reliable, consisting of the most up to
date technology.
Regardless of the type of credit card machine you choose to
invest in, credit card machines can aide your business. Credit
card machines are a must for the twenty-first century and have
advanced to be more effective for you and for your customers.
About the Author: Alan Jason Smith is the owner of
http://www.creditcardspdq.com which is a great place to find
credit card links, resources and articles. For more information
go to: http://www.creditcardspdq.com
Source: http://www.isnare.com
Tuesday, July 10, 2007
Credit Card Machines 802 Blog
Choosing The Right Credit Card
By Mike Collins
They come day after day after day. Sometimes two, three, or
four at a time. Credit card offers. The credit card industry is
highly competitive and banks and other financial institutions
are constantly sending out mass mailings in an attempt to lure
potential customers to switch credit card providers.
And while it is generally not advisable to regularly open new
credit accounts, there are times when doing so can be
advantageous. But how do you compare all of the credit card
offers to know that you are choosing the right credit card?
There are a few things that you should compare and consider
before making your choice.
The interest rate. Obviously the higher the interest rate, the
more you will pay in interest charges. So the lower the rate
the better. Many cards now offer zero-percent introductory
rates for periods of up to a year. Transferring a balance to a
card like this can be an effective way to pay down your debt
quickly. But you have to read the fine print.
Credit card companies usually apply your payment to the debt
with the highest interest rate first. So if your interest rate
on purchases is 12 percent, your payment will be applied to
that balance until it is paid off and then you will begin
paying off the zero-percent portion. Because of this policy,
many people realize little savings in transferring their
balance to a zero-percent card. In order to take full advantage
of the policy, you should not make any purchases on the
zero-percent card. This will ensure that the balance will be
reduced as much as possible before the introductory offer ends.
Reward programs are great ways to gain prizes or cash back by
making purchases. Some cards will actually give you a small
percentage (about one or two percent) of your purchases back as
cash. Others let you earn points that can be redeemed for all
sorts of merchandise, airline tickets, or gift certificates.
Reward programs are a great bonus, as long as you are not
paying extra for it. A higher interest rate will quickly
eliminate any savings you receive through the reward program.
Annual Fees or Service Charges. I have never used a credit card
that charges any kind of annual fee. It just makes no sense to
me. There are so many credit card companies out there competing
for my business, why should I have to pay for the privilege of
using a particular card. Even if the card offers frequent-flyer
miles or cash back, the annual fee will reduce or even eliminate
the benefit gained. Shop around and you can find a card just as
good with no annual fee.
Keep these 3 things in mind when you are comparing the credit
offer and you can be confident that you are choosing the right
credit card.
About the Author: Mike Collins is the owner of
http://www.saving-money-and-living-debt-free.com, a friendly
guide to saving money, making extra money, and getting out of
debt.
Source: http://www.isnare.com
By Mike Collins
They come day after day after day. Sometimes two, three, or
four at a time. Credit card offers. The credit card industry is
highly competitive and banks and other financial institutions
are constantly sending out mass mailings in an attempt to lure
potential customers to switch credit card providers.
And while it is generally not advisable to regularly open new
credit accounts, there are times when doing so can be
advantageous. But how do you compare all of the credit card
offers to know that you are choosing the right credit card?
There are a few things that you should compare and consider
before making your choice.
The interest rate. Obviously the higher the interest rate, the
more you will pay in interest charges. So the lower the rate
the better. Many cards now offer zero-percent introductory
rates for periods of up to a year. Transferring a balance to a
card like this can be an effective way to pay down your debt
quickly. But you have to read the fine print.
Credit card companies usually apply your payment to the debt
with the highest interest rate first. So if your interest rate
on purchases is 12 percent, your payment will be applied to
that balance until it is paid off and then you will begin
paying off the zero-percent portion. Because of this policy,
many people realize little savings in transferring their
balance to a zero-percent card. In order to take full advantage
of the policy, you should not make any purchases on the
zero-percent card. This will ensure that the balance will be
reduced as much as possible before the introductory offer ends.
Reward programs are great ways to gain prizes or cash back by
making purchases. Some cards will actually give you a small
percentage (about one or two percent) of your purchases back as
cash. Others let you earn points that can be redeemed for all
sorts of merchandise, airline tickets, or gift certificates.
Reward programs are a great bonus, as long as you are not
paying extra for it. A higher interest rate will quickly
eliminate any savings you receive through the reward program.
Annual Fees or Service Charges. I have never used a credit card
that charges any kind of annual fee. It just makes no sense to
me. There are so many credit card companies out there competing
for my business, why should I have to pay for the privilege of
using a particular card. Even if the card offers frequent-flyer
miles or cash back, the annual fee will reduce or even eliminate
the benefit gained. Shop around and you can find a card just as
good with no annual fee.
Keep these 3 things in mind when you are comparing the credit
offer and you can be confident that you are choosing the right
credit card.
About the Author: Mike Collins is the owner of
http://www.saving-money-and-living-debt-free.com, a friendly
guide to saving money, making extra money, and getting out of
debt.
Source: http://www.isnare.com
Monday, July 9, 2007
Credit Card Machine 802 Blog
Debit Card Vs. Credit Card, What Are The Differences?
By James Dimmitt
Ah, the “good old days”. If you are a baby boomer, like me,
then you probably remember how important it was to rush to the
bank on payday. You had to get there before the teller lanes
closed so that you could have your “cash allowance” for the
week. Otherwise, if you needed cash you had to write a check,
then go to the bank, and “cash” the check for real cash.
Fortunately the days of the mad rush to get cash from the bank
are long gone. We now enjoy the convenience of using a nearby
automatic teller machine (ATM) or you can even get “cash back”
at your local grocery, hardware or convenience store.
The card you use at the ATM is known as a debit card. When
debit cards first appeared it was easy to tell them apart from
credit cards. Debit cards didn’t have a credit card company
logo on them; instead, they usually just had your bank name,
your account number and your name.
Today debit cards look exactly like credit cards even carrying
the same logos. Both types of cards can be swiped at the
checkout counter , used to make purchases on the internet, or
to pay for the fill-up at the gas pump.
When you use your debit card to make a purchase, it’s just like
using cash. The account that is attached to your debit card, in
most cases your checking account, is automatically debited when
you use your debit card. The cost of your purchase is deducted
from the funds you have in that account.
On the other hand, when you use your credit card to make a
purchase you are using someone’s else’s money, specifically the
issuer of the credit card, usually a banking institution.
In effect, you agree to pay them back the money you borrowed to
make your purchase. In addition you will also pay interest on
the money “loaned” to you at the rate which you agreed to when
you applied for their credit card. This is known as the annual
percentage rate (APR).
While the two cards might act and look alike, the levels of
consumer protection that each type of card provides can be
different.
Under federal law, if someone steals your credit card you're
only responsible to pay the first $50 of unauthorized charges.
However, if you notify the credit card issuer before a thief is
able to make any charges you may be free from all liability.
If the credit card is not physically present when an
unauthorized or fraudulent purchase is made, such as over the
internet, you’re also free from liability for those charges.
MasterCard and Visa offer zero-liability protection where you
won’t pay any charges if someone uses your credit card to make
an unauthorized purchase.
The protection offered to debit card fraud is similar but with
a few exceptions. For example, your liability under federal
law is limited to $50, the same as for a credit card, but only
if you notify the issuer within two business days of
discovering the card's loss or theft. Your liability for
debit card fraud can jump up to $500 if you don’t report the
loss or theft within two business days.
And if you are the type of person that gives a passing glance
to your monthly bank statement, you could be totally liable for
any fraudulent debit card charges if you wait 60 days or more
from the time your statement is mailed.
Visa and MasterCard zero-liability protection applies to your
debit card but only for transactions that do not involve the
use of your PIN (personal identification number).
Additional protection against fraudulent use of your credit or
debit cards may be available through your homeowner’s or
renter’s insurance. Check your policy or with your agent for
more information about your coverage.
Also be aware that you should contact your card issuer by
certified letter, return receipt requested, after you’ve
contacted them by phone to protect your consumer rights.
As for which card to use for what type of purchase, most
experts agree that you should use your debit card for the same
type of purchases you’d make as if you were using cash.
Therefore, it makes more sense to use your debit card than your
credit card at the grocery store or gas station (provided you
have sufficient funds to cover these purchases of course).
Avoid using your debit card for any online purchase or for
something which is expensive. Why ? You’ll find it much
easier to dispute a charge when you use your credit card. If
your gold-plated, limited edition, hip-swinging Elvis wall
clock arrives broken, your credit card company will remove the
charge until the problem is resolved.
With your debit card you are stuck dealing with the merchant
directly to resolve any problems with a purchase, even if your
banking institution could really use a gold-plated, limited
edition, hip-swinging Elvis wall clock of their very own.
About the Author: © 2005,
http://www.yourfreecreditreportnow.com Author: James H. Dimmitt
James is editor of “To Your Credit” a FREE weekly newsletter
focusing on managing your personal finances and credit.
Subscribe and get a FREE copy of your credit report when you
visit: http://www.yourfreecreditreportnow.com
Source: http://www.isnare.com
By James Dimmitt
Ah, the “good old days”. If you are a baby boomer, like me,
then you probably remember how important it was to rush to the
bank on payday. You had to get there before the teller lanes
closed so that you could have your “cash allowance” for the
week. Otherwise, if you needed cash you had to write a check,
then go to the bank, and “cash” the check for real cash.
Fortunately the days of the mad rush to get cash from the bank
are long gone. We now enjoy the convenience of using a nearby
automatic teller machine (ATM) or you can even get “cash back”
at your local grocery, hardware or convenience store.
The card you use at the ATM is known as a debit card. When
debit cards first appeared it was easy to tell them apart from
credit cards. Debit cards didn’t have a credit card company
logo on them; instead, they usually just had your bank name,
your account number and your name.
Today debit cards look exactly like credit cards even carrying
the same logos. Both types of cards can be swiped at the
checkout counter , used to make purchases on the internet, or
to pay for the fill-up at the gas pump.
When you use your debit card to make a purchase, it’s just like
using cash. The account that is attached to your debit card, in
most cases your checking account, is automatically debited when
you use your debit card. The cost of your purchase is deducted
from the funds you have in that account.
On the other hand, when you use your credit card to make a
purchase you are using someone’s else’s money, specifically the
issuer of the credit card, usually a banking institution.
In effect, you agree to pay them back the money you borrowed to
make your purchase. In addition you will also pay interest on
the money “loaned” to you at the rate which you agreed to when
you applied for their credit card. This is known as the annual
percentage rate (APR).
While the two cards might act and look alike, the levels of
consumer protection that each type of card provides can be
different.
Under federal law, if someone steals your credit card you're
only responsible to pay the first $50 of unauthorized charges.
However, if you notify the credit card issuer before a thief is
able to make any charges you may be free from all liability.
If the credit card is not physically present when an
unauthorized or fraudulent purchase is made, such as over the
internet, you’re also free from liability for those charges.
MasterCard and Visa offer zero-liability protection where you
won’t pay any charges if someone uses your credit card to make
an unauthorized purchase.
The protection offered to debit card fraud is similar but with
a few exceptions. For example, your liability under federal
law is limited to $50, the same as for a credit card, but only
if you notify the issuer within two business days of
discovering the card's loss or theft. Your liability for
debit card fraud can jump up to $500 if you don’t report the
loss or theft within two business days.
And if you are the type of person that gives a passing glance
to your monthly bank statement, you could be totally liable for
any fraudulent debit card charges if you wait 60 days or more
from the time your statement is mailed.
Visa and MasterCard zero-liability protection applies to your
debit card but only for transactions that do not involve the
use of your PIN (personal identification number).
Additional protection against fraudulent use of your credit or
debit cards may be available through your homeowner’s or
renter’s insurance. Check your policy or with your agent for
more information about your coverage.
Also be aware that you should contact your card issuer by
certified letter, return receipt requested, after you’ve
contacted them by phone to protect your consumer rights.
As for which card to use for what type of purchase, most
experts agree that you should use your debit card for the same
type of purchases you’d make as if you were using cash.
Therefore, it makes more sense to use your debit card than your
credit card at the grocery store or gas station (provided you
have sufficient funds to cover these purchases of course).
Avoid using your debit card for any online purchase or for
something which is expensive. Why ? You’ll find it much
easier to dispute a charge when you use your credit card. If
your gold-plated, limited edition, hip-swinging Elvis wall
clock arrives broken, your credit card company will remove the
charge until the problem is resolved.
With your debit card you are stuck dealing with the merchant
directly to resolve any problems with a purchase, even if your
banking institution could really use a gold-plated, limited
edition, hip-swinging Elvis wall clock of their very own.
About the Author: © 2005,
http://www.yourfreecreditreportnow.com Author: James H. Dimmitt
James is editor of “To Your Credit” a FREE weekly newsletter
focusing on managing your personal finances and credit.
Subscribe and get a FREE copy of your credit report when you
visit: http://www.yourfreecreditreportnow.com
Source: http://www.isnare.com
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