The importance of having a credit card

About credit card application for starters . At the rate the economy is going and with the pace of life that we have right now we want everything done the express way. That’s why a lot of businessmen, young professionals, big bankers and even well-off students are lining up inside their trusted banks, credit card application in one hand and the need to have instant credit on the other. Credit card, a payment system that known as Plastic money.

The Plastic money applications (Credit card) that, have taken over the need to have cold cash and a lot of people are trading in their hard-earned green bucks for a shot of having the charge-it-card. But along with your credit card application is the responsibility that we are mainly unaware of. So when you are thinking about falling in line to get started with your credit card account and before you start filling up the fields necessary to get up and running with your credit card application know all the precautions and the counter measures for you to be protected by the federal law. Credit card application, as we all know takes a lot of time with regards to the verification of the identity of the person on top of the credit card application. Because of the US Patriotic Act that requires further verification of anyone applying for anything on the United States, that includes credit card application, getting anything in the US has become quite a chore. But since the importance of having a credit card is top priority in the US many are still willing to go to immense amount of trouble that is coupled with it.

So, the importance of having a credit card is very imminent, take for example the average American. An average American from the middle class bracket owns about eight to ten different credit cards and uses all of them at an average if once a day. With this number it’s not surprising that there are about a hundred thousand credit card applications being processed in a single day. And the rate if credit card applications are still expected to rise within the next quarter. The need for credit cards and debit cards is for real and the market should be open for more credit card applications that is expectedly going to flood their way. There will be a great need for more people to look into the responsibility of educating other people on how and when to use their credit cards, because it’s hard earned greenbacks that we are throwing away when we buy online porno and junk like that only profit a few people. So whenever you’re ready grab a pen and paper and get ready to fill up that credit card application form and take one step in the express charging the way you buy.

Most of the time, although your credit card application is mailed to that states that you have been pre-approved, you will still be asked to fill out a credit card application or the ‘acceptance form’. The reason behind this is the need of the bank or the company to verify the identification of the person they have sent the card to. Since most companies offer online credit card application, you may go online to fill out the form so the processing will be convenient and easier.

When filling out your credit card application, there are some important details that should be considered aside from your name and contact information like the query should you accept every offer or not, the possibility of hidden fees that can be quite expensive and the like. - Credit Cards Stuffs

Shopping Wisely With Credit Cards

From the financial world today, one side of the financial life of the fastest growing following the global culture is the use of plastic cards and one of the products are credit cards. These financial instruments provide a variety of convenience, both in trade and cash flow management. And also Credit cards provide a lot of convenience to their owners, from security until the minimum monthly payments.

Today although issuance of credit cards is no longer the monopoly of the banking sector, When it comes to finances, technology through efficient banking system and services—has given people better alternatives and options how to manage their finances. Among the so many financial management schemes that emerged, one alternative stands out among the rest the credit card.

Credit card, especially to working people and those who live very busy lives, has become an ultimate financial “savior.” More than just being a status symbol or an add-on to expensive purses and wallets, credit card has revolutionized the way people spend their money.

But, more than the glamour and the convenience credit card brings, there is much more to this card than most people could ever imagine.

Before indulging much into the never-ending list of the advantages and disadvantages of having a credit card, it is very important for people to first have a brief realization of what credit card really is in order for them to maximize its potentials.

In layman’s terms, credit card is a card that allows a person to make purchases up to the limit set by the card issuer. One must then pay off the balance in installments with interest payments. Usually, credit card payment per month ranges from the minimum amount set by the bank to entire outstanding balance. And since it is a form of business, the longer the credit card holder wait to pay off his or her entire amount, the more interest pile up.

Since having a credit card is a responsibility, only those people who are of legal age and have the capability to pay off the amount they are going to spend through their credit card, is allowed to have one. Actually, most of the adults in the U.S. use credit card because this is very convenient compared to carrying cash or checks every time they have to purchase something.

It is also equally important to be familiar with the different types of credit cards before you begin to build up credit card balances and to avoid having a nightmare of debt. Since credit cards are indispensable to most consumers, it is a must that they understand the types of card that include charge cards, bankcards, retail cards, gold cards and secured cards. All of these types come in one of two interest rate options—the fixed and variable. Actually, it doesn’t really matter if you decide to have a fixed-rate credit card because the interest rate remains the same. Compared to variable rate cards where rate may be subject to change depends upon the credit card issuer’s discretion, fixed-rate carry higher interest rates. Basically, credit card grantors issue three types of accounts with basic account agreements like the “revolving agreement” a.k.a. Typical Credit Card Account which allows the payer to pay in full monthly or prefer to have partial payments based on outstanding balance. While the Charge Agreement requires the payer to pay the full balance monthly so they won’t have to pay the interest charges, the Installment Agreement, on the other hand, asks the payer to sign a contract to repay a fixed amount of credit in equal payments in definite period of time. Another category of credit card accounts includes the individual and joint accounts where the former asks the individual alone to repay the debt while the latter requires the partners responsible to pay. The common types of credit cards available through banks and other financial institutions also include Standard Credit Cards like Balance Transfer Credit Cards and Low Interest Credit Cards; Credit Cards with Rewards Programs like Airline Miles Credit Cards, Cash Back Credit Cards and Rewards Credit Cards; Credit Cards for Bad Credit like Secured Credit Cards and Prepaid Debit Cards; and Specialty Credit Cards like Business Credit Cards and Student Credit Cards.

Now that you have an idea how many types of credit card there is, it is now time to review your goals before applying for one. Some of the things you should consider is how will you spend with the credit card monthly, if you plan to carry a balance at the end of the month, how much are you willing to pay in annual fees, if you have a strong credit history and is does your credit in need of rehabilitation. Once you have an idea of what you are looking for choose the right credit card for you by researching the information you need that will fit your basic needs. You may also review the credit cards you’ve research and compare them.

Shopping for a credit card?
Regardless of the type of credit card you choose, be sure to discuss your specific financial needs with your financial advisor or accountant before applying for any credit card. It is a must that you understand the benefits of having a credit card like safety, valuable consumer protections under the law, and the accessibility and availability of services. The most popular credit cards include Chase Manhattan Bank, Citibank, Bank of America, BankOne, American Express, Discover® Card, First Premier Bank, Advanta, HSBC Bank, and MasterCard Credit Cards.

Although having a credit card is synonymous to invincibility, this may also trigger a person’s thirst for material things and may lead into the temptation of buying something they don’t really need. A credit card bearer should always have in min that having a credit card is a big responsibility. If they don’t use it carefully, these may owe more than they can repay. It can also damage their credit report, and create credit problems that are quite difficult to repair - Shopping Wisely With Credit Cards

How To Avoid a Credit Card Processing Nightmare & Succeed Accepting Credit Cards? - Merchant Account

Hello readers, How To Avoid a Credit Card Processing Nightmare & Succeed Accepting Credit Cards? or what exclusive benefits do you give to seasonal merchants?

Your wherewithal to accept credit cards on the web will be the difference between acquiring a new buyer and wasting one. Once approved, you'll have our secured internet payment processing software. It has become very clear that major charge cards are the money of choice on the Internet.

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Credit Card Protection From Hacking

Consumer beware, there are hackers on the prowl, and they want your credit card, bank account and lots of other stuff too.

Credit card hackers were once highly gifted computer geniuses. Not so anymore. Today, even the mildly computer literate person can buy software that can do the job of the highly skilled.

Protect yourself

In this day and age, it’s not such a bad thing to be a little paranoid when it comes to security. There are excellent programs available that help in making personal accounts less susceptible to hacker attacks.

• anti-virus programs
• anti-spam programs
• anti-spy ware
• firewalls

It is important, however, to use these programs by updating regularly and running the anti-virus scanner at least once a week. With constant maintenance, programs like the popular keystroke logger, can usually be caught and deleted before any damage can be done.

The keystroke logger is a popular hacking tool. Easily disguised within other programs, it keeps track of every keystroke a targeted user makes; including bank account and credit card numbers and passwords. Hackers hide keystroke loggers inside free downloads, or even when a word is misspelled in a search engine. Last year, one mistyped letter in a Google search would have brought on a bevy of viruses.

Here phishy, phishy

Phishing, as the name implies, lets the hacker go fishing for his prey through email. Thus, the word is derived from the combination: fish-as in reeling in, and phony-as in fake.

A hacker sends out an email that seems to be from a trusted company. This email usually threatens closure of the user’s account unless the instructions in the email are followed. A link to the company website is provided. Once clicked, the user sees the familiar company web page, complete with logos, company information, etc. The email usually reads something like this:

For security reasons, the company is asking you to update your account. Please follow this link and update today. If we don’t hear from you within 48 hours, your account will be closed.

The fish has been reeled in and is now entering personal information on a phony web page. Banks and credit card companies lose more than $1.2 billion yearly to phishing scams.

The easiest way to avoid being taken in by these web con-artists is to know one basic fact: financial institutions and legitimate businesses NEVER ask for personal information by email.
Dmitri Alperovitch, research engineer for CipherTrust, Inc. says, Anytime you get an email from a financial institution that asks you to go to a Web site and enter financial information, a whole bunch of red flags should jump up.

source :www.creditcardhacker.com