Credit Card Fraud is on the Rise
by Stephanie Andrews
Credit card fraud has increased significantly in recent years, according to law enforcement officials and consumer protection organizations like the Public Interest Research Group and Privacy Rights Clearinghouse. More consumers own credit cards now than in the past, and criminals are constantly looking for new ways to tap into accounts. All of this means cardholders need to protect their credit cards now more than ever before.
Perhaps the most obvious form of credit card fraud takes place in the form of theft. Even if you don't lose your card or have it stolen, however, your credit card account could still be in danger. It is not uncommon for criminals to steal your credit card identity - details such as the number on the card and the expiration date. A stolen account number is the first step in a series of credit card fraud incidents. Unfortunately, cardholders may not be aware of the theft until the unauthorized activity starts showing up on the bills.
Identity Theft
Identity theft occurs when your personal information is gathered without your authorization and used for criminal purposes. It occurs when someone steals information that identifies who you are, such as your name, address, date of birth, or social security number. Sometimes you need to submit this information when applying for credit, opening a new bank account or making a purchase. When someone taps into these accounts or transactions without authorized permission, your information could be in danger. According to a Federal Trade Commission survey issued in October 2007, an estimated 13.5 percent of U.S. adults (30.2 million consumers) were victims of one or more identity fraud incidents in 2005.
Credit card thieves can come in two forms. The first of these are complete strangers, and the other kind falls into the category of people you know. This second group can include anyone from friends and family members to neighbors, co-workers, or anyone that you have an established relationship with. More than half of the identity theft cases that occur are committed by criminals that have established relationships with their victims.
This doesn't mean that you should be wary of all of your friends and in-laws. You should, however, be aware of certain warning signs. Here are a few of the common ways that identity theft happens:
- Someone may steal your wallet or purse. When they get a hold of it, they have instant access to your credit cards and bank information.
- Your personal information can be taken from information you submit on the Internet.
- Fraudsters may locate your discarded receipts by looking through your trash can. If your name or account number appears on the receipt, they can use it to their advantage.
- A clerk at a store might make an extra copy of your credit card, or take the numbers from it.
- Your utility bills, credit card and bank statements, tax information, and new checks can be stage-managed to land up at the wrong place.
- You may get a phone call or email offering a free trip or a cheap travel package. To receive it, however, you have to submit your account number. Once you do, the source can start using your card number to make unauthorized purchases.
After collecting your personal information, fraudsters may get the mailing address on your credit card account changed by calling your creditors and opening new lines of credit. In some cases, they might do more than just rack up purchases on your card. They might open bank accounts in your name, apply for loans in your name, or set up new phone accounts. The list of possibilities is nearly endless.
New Credit Card Crimes
One of the newest methods that identity thieves are using is referred to as skimming. In this technique, a small hand-held electronic device called a skimmer is used to gather the information embedded in the magnetic strip of the card. With a simple swipe of your card in the hand-held skimmer, all your personal identification information is collected in just a second. It is then used to create a counterfeit card or make purchases online.
Crime perpetrators are continually trying out different technologies to carry out identity theft. Fortunately, many organizations are fighting the battle against credit card crime by developing new encryption techniques. Business are doing all they can to help individual consumer keep their private information a closely guarded secret.
Despite various improvements and efforts, almost anyone can be a victim of identity theft. And it can be nerve-wracking to find unauthorized charges on your personal credit card bills. Most credit card companies will cover the amounts charged to your card in fraudulent cases. Still, it is in your best interest to do all you can to protect your credit card, as well as your personal identification information. Prevention is always better than the cure!
แสดงบทความที่มีป้ายกำกับ Credit Card Fraud แสดงบทความทั้งหมด
แสดงบทความที่มีป้ายกำกับ Credit Card Fraud แสดงบทความทั้งหมด
วันจันทร์ที่ 25 สิงหาคม พ.ศ. 2551
วันศุกร์ที่ 29 กุมภาพันธ์ พ.ศ. 2551
Credit Card Fraud
Credit Card Fraud
by Bernard Pragides
Identity theft comes in many forms, but one of the most common types, and also, one of the most destructive, is credit card fraud. Now, you may think you have protected yourself from credit card fraud, but the reality is, there are so many ways in which an identity theft can steal your details and therefore commit this type of fraud, that you may not have protected yourself against every eventuality.
The first thing you need to think about when considering protecting yourself from credit card fraud, is the ways in which people are able to get hold of your credit cards, or personal information in order to apply for one. The first thing you should watch out for is any problems you may encounter with ATM machines. If you notice anything strange about the way the cash machine is working, do not use it and inform the bank or company that owns the machine. The most common thing that seems to happen, is a small card reader is mounted over the slot that reads the card and can be use for copying it, and also a tiny camera which monitors the pin numbers. This method allows the thief to monitor and collect many different card details and Pin numbers to use in the form of credit card theft. This may also happen for the small machines that you use to pay by card in crooked stores, or by a crooked sales cashier.
For more detailed frauds, these identity thieves need more than just card details. They need address and names, and these can be found by rooting through garbage cans. These details can easily be found on utility bills or bank statements. They can use that information, as well as details that can be found with the electoral roles and other data that is publicly available, to perform costly and intricated forms of credit cards.
Credit card fraud can also be performed in the way of lost mail. Thieves have been known to steal post from mail boxes and every year, the postal companies are reporting more and more lost mail. Important documents such as check books, credit cards, Pin numbers can all be intercepted before they reach the owner of the mailbox.
You should also be aware that thieves also use websites to purchase goods, either by way of credit card fraud, or by just using your personal details. Online auction sites should be carefully monitored, and so should sites that store your personal information for any future purchases.
The only way to be protected against credit card fraud, is to be aware. Your documents can be stolen in so many ways, and you need to ensure that you always keep a close eye on your finances.
There are certain insurances you can take out to protect you, if you should ever become a victim of credit card fraud, and it is a good idea to check out these options for further reference.
There are a lot more ways to protect yourself and your family from this type of fraud. The best thing to do is to put it into practice. Remember these thieves wants your most precious possession, your identity. Knowledge is power!
by Bernard Pragides
Identity theft comes in many forms, but one of the most common types, and also, one of the most destructive, is credit card fraud. Now, you may think you have protected yourself from credit card fraud, but the reality is, there are so many ways in which an identity theft can steal your details and therefore commit this type of fraud, that you may not have protected yourself against every eventuality.
The first thing you need to think about when considering protecting yourself from credit card fraud, is the ways in which people are able to get hold of your credit cards, or personal information in order to apply for one. The first thing you should watch out for is any problems you may encounter with ATM machines. If you notice anything strange about the way the cash machine is working, do not use it and inform the bank or company that owns the machine. The most common thing that seems to happen, is a small card reader is mounted over the slot that reads the card and can be use for copying it, and also a tiny camera which monitors the pin numbers. This method allows the thief to monitor and collect many different card details and Pin numbers to use in the form of credit card theft. This may also happen for the small machines that you use to pay by card in crooked stores, or by a crooked sales cashier.
For more detailed frauds, these identity thieves need more than just card details. They need address and names, and these can be found by rooting through garbage cans. These details can easily be found on utility bills or bank statements. They can use that information, as well as details that can be found with the electoral roles and other data that is publicly available, to perform costly and intricated forms of credit cards.
Credit card fraud can also be performed in the way of lost mail. Thieves have been known to steal post from mail boxes and every year, the postal companies are reporting more and more lost mail. Important documents such as check books, credit cards, Pin numbers can all be intercepted before they reach the owner of the mailbox.
You should also be aware that thieves also use websites to purchase goods, either by way of credit card fraud, or by just using your personal details. Online auction sites should be carefully monitored, and so should sites that store your personal information for any future purchases.
The only way to be protected against credit card fraud, is to be aware. Your documents can be stolen in so many ways, and you need to ensure that you always keep a close eye on your finances.
There are certain insurances you can take out to protect you, if you should ever become a victim of credit card fraud, and it is a good idea to check out these options for further reference.
There are a lot more ways to protect yourself and your family from this type of fraud. The best thing to do is to put it into practice. Remember these thieves wants your most precious possession, your identity. Knowledge is power!
วันพฤหัสบดีที่ 21 กุมภาพันธ์ พ.ศ. 2551
Credit Card Fraud
Credit Card Fraud
by Bernard Pragides
Identity theft comes in many forms, but one of the most common types, and also, one of the most destructive, is credit card fraud. Now, you may think you have protected yourself from credit card fraud, but the reality is, there are so many ways in which an identity theft can steal your details and therefore commit this type of fraud, that you may not have protected yourself against every eventuality.
The first thing you need to think about when considering protecting yourself from credit card fraud, is the ways in which people are able to get hold of your credit cards, or personal information in order to apply for one. The first thing you should watch out for is any problems you may encounter with ATM machines. If you notice anything strange about the way the cash machine is working, do not use it and inform the bank or company that owns the machine. The most common thing that seems to happen, is a small card reader is mounted over the slot that reads the card and can be use for copying it, and also a tiny camera which monitors the pin numbers. This method allows the thief to monitor and collect many different card details and Pin numbers to use in the form of credit card theft. This may also happen for the small machines that you use to pay by card in crooked stores, or by a crooked sales cashier.
For more detailed frauds, these identity thieves need more than just card details. They need address and names, and these can be found by rooting through garbage cans. These details can easily be found on utility bills or bank statements. They can use that information, as well as details that can be found with the electoral roles and other data that is publicly available, to perform costly and intricated forms of credit cards.
Credit card fraud can also be performed in the way of lost mail. Thieves have been known to steal post from mail boxes and every year, the postal companies are reporting more and more lost mail. Important documents such as check books, credit cards, Pin numbers can all be intercepted before they reach the owner of the mailbox.
You should also be aware that thieves also use websites to purchase goods, either by way of credit card fraud, or by just using your personal details. Online auction sites should be carefully monitored, and so should sites that store your personal information for any future purchases.
The only way to be protected against credit card fraud is to be aware. Your documents can be stolen in so many ways, and you need to ensure that you always keep a close eye on your finances. There are certain insurances you can take out to protect you, if you should ever become a victim of credit card fraud, and it is a good idea to check out these options for further reference.
by Bernard Pragides
Identity theft comes in many forms, but one of the most common types, and also, one of the most destructive, is credit card fraud. Now, you may think you have protected yourself from credit card fraud, but the reality is, there are so many ways in which an identity theft can steal your details and therefore commit this type of fraud, that you may not have protected yourself against every eventuality.
The first thing you need to think about when considering protecting yourself from credit card fraud, is the ways in which people are able to get hold of your credit cards, or personal information in order to apply for one. The first thing you should watch out for is any problems you may encounter with ATM machines. If you notice anything strange about the way the cash machine is working, do not use it and inform the bank or company that owns the machine. The most common thing that seems to happen, is a small card reader is mounted over the slot that reads the card and can be use for copying it, and also a tiny camera which monitors the pin numbers. This method allows the thief to monitor and collect many different card details and Pin numbers to use in the form of credit card theft. This may also happen for the small machines that you use to pay by card in crooked stores, or by a crooked sales cashier.
For more detailed frauds, these identity thieves need more than just card details. They need address and names, and these can be found by rooting through garbage cans. These details can easily be found on utility bills or bank statements. They can use that information, as well as details that can be found with the electoral roles and other data that is publicly available, to perform costly and intricated forms of credit cards.
Credit card fraud can also be performed in the way of lost mail. Thieves have been known to steal post from mail boxes and every year, the postal companies are reporting more and more lost mail. Important documents such as check books, credit cards, Pin numbers can all be intercepted before they reach the owner of the mailbox.
You should also be aware that thieves also use websites to purchase goods, either by way of credit card fraud, or by just using your personal details. Online auction sites should be carefully monitored, and so should sites that store your personal information for any future purchases.
The only way to be protected against credit card fraud is to be aware. Your documents can be stolen in so many ways, and you need to ensure that you always keep a close eye on your finances. There are certain insurances you can take out to protect you, if you should ever become a victim of credit card fraud, and it is a good idea to check out these options for further reference.
วันอาทิตย์ที่ 20 มกราคม พ.ศ. 2551
How To Choose and Use Credit Cards
How To Choose and Use Credit Cards
by sas_upena1
Credit Card Terms
A credit card is a form of borrowing that often involves charges. Credit terms and conditions affect your overall cost. So it's wise to compare terms and fees before you agree to open a credit or charge card account.
The following are some important terms to consider that generally must be disclosed in credit card applications or in solicitations that require no application. You also may want to ask about these terms when you're shopping for a card.
Annual Percentage Rate. The APR is a measure of the cost of credit, expressed as a yearly rate. It also must be disclosed before you become obligated on the account and on your account statements.
The card issuer also must disclose the "periodic rate" - the rate applied to your outstanding balance to figure the finance charge for each billing period.
Some credit card plans allow the issuer to change your APR when interest rates or other economic indicators - called indexes - change. Because the rate change is linked to the index's performance, these plans are called "variable rate" programs. Rate changes raise or lower the finance charge on your account. If you're considering a variable rate card, the issuer must also provide various information that discloses to you:
* that the rate may change; and * how the rate is determined - which index is used and what additional amount, the "margin," is added to determine your new rate.
At the latest, you also must receive information, before you become obligated on the account, about any limitations on how much and how often your rate may change.
Free Period. Also called a "grace period," a free period lets you avoid finance charges by paying your balance in full before the due date. Knowing whether a card gives you a free period is especially important if you plan to pay your account in full each month. Without a free period, the card issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account. If your card includes a free period, the issuer must mail your bill at least 14 days before the due date so you'll have enough time to pay.
Annual Fees. Most issuers charge annual membership or participation fees. They often range from $25 to $50, sometimes up to $100; "gold" or "platinum" cards often charge up to $75 and sometimes up to several hundred dollars.
Transaction Fees and Other Charges. A card may include other costs. Some issuers charge a fee if you use the card to get a cash advance, make a late payment, or exceed your credit limit. Some charge a monthly fee whether or not you use the card.
Balance Computation Method for the Finance Charge. If you don't have a free period, or if you expect to pay for purchases over time, it's important to know what method the issuer uses to calculate your finance charge. This can make a big difference in how much of a finance charge you'll pay - even if the APR and your buying patterns remain relatively constant.
Examples of balance computation methods include the following.
Average Daily Balance. This is the most common calculation method. It credits your account from the day payment is received by the issuer. To figure the balance due, the issuer totals the beginning balance for each day in the billing period and subtracts any credits made to your account that day. While new purchases may or may not be added to the balance, depending on your plan, cash advances typically are included. The resulting daily balances are added for the billing cycle. The total is then divided by the number of days in the billing period to get the "average daily balance."
Adjusted Balance. This is usually the most advantageous method for card holders. Your balance is determined by subtracting payments or credits received during the current billing period from the balance at the end of the previous billing period. Purchases made during the billing period aren't included.
This method gives you until the end of the billing cycle to pay a portion of your balance to avoid the interest charges on that amount. Some creditors exclude prior, unpaid finance charges from the previous balance. Previous Balance. This is the amount you owed at the end of the previous billing period. Payments, credits and new purchases during the current billing period are not included. Some creditors also exclude unpaid finance charges.
Two-cycle Balances. Issuers sometimes use various methods to calculate your balance that make use of your last two month's account activity. Read your agreement carefully to find out if your issuer uses this approach and, if so, what specific two-cycle method is used.
If you don't understand how your balance is calculated, ask your card issuer. An explanation must also appear on your billing statements.
Other Costs and Features
Credit terms vary among issuers. When shopping for a card, think about how you plan to use it. If you expect to pay your bills in full each month, the annual fee and other charges may be more important than the periodic rate and the APR, if there is a grace period for purchases. However, if you use the cash advance feature, many cards do not permit a grace period for the amounts due - even if they have a grace period for purchases. So, it may still be wise to consider the APR and balance computation method. Also, if you plan to pay for purchases over time, the APR and the balance computation method are definitely major considerations.
You'll probably also want to consider if the credit limit is high enough, how widely the card is accepted, and the plan's services and features. For example, you may be interested in "affinity cards" - all-purpose credit cards sponsored by professional organizations, college alumni associations and some members of the travel industry. An affinity card issuer often donates a portion of the annual fees or charges to the sponsoring organization, or qualifies you for free travel or other bonuses.
Special Delinquency Rates. Some cards with low rates for on-time payments apply a very high APR if you are late a certain number of times in any specified time period. These rates sometimes exceed 20 percent. Information about delinquency rates should be disclosed to you in credit card applications or in solicitations that do not require an application.
Shopping Tips
Keep these tips in mind when looking for a credit or charge card. * Shop around for the plan that best fits your needs. * Make sure you understand a plan's terms before you accept the card. * Hold on to receipts to reconcile charges when your bill arrives. * Protect your cards and account numbers to prevent unauthorized use. Draw a line through blank spaces on charge slips so the amount can't be changed. Tear up carbons. * Keep a record - in a safe place separate from your cards - of your account numbers, expiration dates and the phone numbers of each issuer to report a loss quickly. * Carry only the cards you think you'll use.
by sas_upena1
Credit Card Terms
A credit card is a form of borrowing that often involves charges. Credit terms and conditions affect your overall cost. So it's wise to compare terms and fees before you agree to open a credit or charge card account.
The following are some important terms to consider that generally must be disclosed in credit card applications or in solicitations that require no application. You also may want to ask about these terms when you're shopping for a card.
Annual Percentage Rate. The APR is a measure of the cost of credit, expressed as a yearly rate. It also must be disclosed before you become obligated on the account and on your account statements.
The card issuer also must disclose the "periodic rate" - the rate applied to your outstanding balance to figure the finance charge for each billing period.
Some credit card plans allow the issuer to change your APR when interest rates or other economic indicators - called indexes - change. Because the rate change is linked to the index's performance, these plans are called "variable rate" programs. Rate changes raise or lower the finance charge on your account. If you're considering a variable rate card, the issuer must also provide various information that discloses to you:
* that the rate may change; and * how the rate is determined - which index is used and what additional amount, the "margin," is added to determine your new rate.
At the latest, you also must receive information, before you become obligated on the account, about any limitations on how much and how often your rate may change.
Free Period. Also called a "grace period," a free period lets you avoid finance charges by paying your balance in full before the due date. Knowing whether a card gives you a free period is especially important if you plan to pay your account in full each month. Without a free period, the card issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account. If your card includes a free period, the issuer must mail your bill at least 14 days before the due date so you'll have enough time to pay.
Annual Fees. Most issuers charge annual membership or participation fees. They often range from $25 to $50, sometimes up to $100; "gold" or "platinum" cards often charge up to $75 and sometimes up to several hundred dollars.
Transaction Fees and Other Charges. A card may include other costs. Some issuers charge a fee if you use the card to get a cash advance, make a late payment, or exceed your credit limit. Some charge a monthly fee whether or not you use the card.
Balance Computation Method for the Finance Charge. If you don't have a free period, or if you expect to pay for purchases over time, it's important to know what method the issuer uses to calculate your finance charge. This can make a big difference in how much of a finance charge you'll pay - even if the APR and your buying patterns remain relatively constant.
Examples of balance computation methods include the following.
Average Daily Balance. This is the most common calculation method. It credits your account from the day payment is received by the issuer. To figure the balance due, the issuer totals the beginning balance for each day in the billing period and subtracts any credits made to your account that day. While new purchases may or may not be added to the balance, depending on your plan, cash advances typically are included. The resulting daily balances are added for the billing cycle. The total is then divided by the number of days in the billing period to get the "average daily balance."
Adjusted Balance. This is usually the most advantageous method for card holders. Your balance is determined by subtracting payments or credits received during the current billing period from the balance at the end of the previous billing period. Purchases made during the billing period aren't included.
This method gives you until the end of the billing cycle to pay a portion of your balance to avoid the interest charges on that amount. Some creditors exclude prior, unpaid finance charges from the previous balance. Previous Balance. This is the amount you owed at the end of the previous billing period. Payments, credits and new purchases during the current billing period are not included. Some creditors also exclude unpaid finance charges.
Two-cycle Balances. Issuers sometimes use various methods to calculate your balance that make use of your last two month's account activity. Read your agreement carefully to find out if your issuer uses this approach and, if so, what specific two-cycle method is used.
If you don't understand how your balance is calculated, ask your card issuer. An explanation must also appear on your billing statements.
Other Costs and Features
Credit terms vary among issuers. When shopping for a card, think about how you plan to use it. If you expect to pay your bills in full each month, the annual fee and other charges may be more important than the periodic rate and the APR, if there is a grace period for purchases. However, if you use the cash advance feature, many cards do not permit a grace period for the amounts due - even if they have a grace period for purchases. So, it may still be wise to consider the APR and balance computation method. Also, if you plan to pay for purchases over time, the APR and the balance computation method are definitely major considerations.
You'll probably also want to consider if the credit limit is high enough, how widely the card is accepted, and the plan's services and features. For example, you may be interested in "affinity cards" - all-purpose credit cards sponsored by professional organizations, college alumni associations and some members of the travel industry. An affinity card issuer often donates a portion of the annual fees or charges to the sponsoring organization, or qualifies you for free travel or other bonuses.
Special Delinquency Rates. Some cards with low rates for on-time payments apply a very high APR if you are late a certain number of times in any specified time period. These rates sometimes exceed 20 percent. Information about delinquency rates should be disclosed to you in credit card applications or in solicitations that do not require an application.
Shopping Tips
Keep these tips in mind when looking for a credit or charge card. * Shop around for the plan that best fits your needs. * Make sure you understand a plan's terms before you accept the card. * Hold on to receipts to reconcile charges when your bill arrives. * Protect your cards and account numbers to prevent unauthorized use. Draw a line through blank spaces on charge slips so the amount can't be changed. Tear up carbons. * Keep a record - in a safe place separate from your cards - of your account numbers, expiration dates and the phone numbers of each issuer to report a loss quickly. * Carry only the cards you think you'll use.
วันจันทร์ที่ 31 ธันวาคม พ.ศ. 2550
College credit card
College credit card
by JimmyW
College credit cards are the credit cards that have been specially designed for college students. College credit cards are more popularly known as student credit cards. College credit cards allow the students to experience the benefits of credit cards much earlier in their life. Through college credit cards, the college students are able to learn more about credit cards and their use. In fact, for most of the students, their college credit card is their first credit card that acts as a gateway to the world of credit cards. Some other students might have previously used supplementary credit cards linked to their father's credit card account; however, for such students too, their college credit card is the first one that is truly theirs.
College credit cards are not very different from other types of credit cards in the basic sense; they function in the same way as any credit card would. However, there are some differences, which basically arise from the fact that college credit cards are used by people who have no prior experience with credit cards and who perhaps don't understand the concept of credit cards completely. Hence, the credit card supplier is at risk with issuing credit cards (college credit cards) to such people whom he is not sure about. Most of the students don't have a credit history either. In such a case, the supplier of college credit card cannot be sure of receiving the credit card bill payments in time (and even receiving them at all). To counter such risks, the supplier of college credit card requires the parent of the student to co-sign the college credit card application form as a guarantee. Moreover, the credit limit on college credit cards is generally around $500-$1000 per month, which is lower than what it is for other credit cards (this credit limit is generally sufficient to fulfil the typical needs of a student). Another risk mitigation instrument used by the college credit card suppliers is the interest rate or APR. The APR on college credit cards is generally higher than that for other credit cards. Again, this is done to dissuade the students from overspending on their college credit card (and finally not being able to pay their credit card bills). However, if we were to look at these impositions in a positive sense, we would find that these are actually in favour of the student (who is still getting trained to take on the real world of credit cards). Moreover, college credit cards also help the students in establishing a (good) credit history which is another important benefit that becomes handy when the student needs any type of loan at a later stage in his/her life.
So, college credit cards are really something that every student should consider going for.
by JimmyW
College credit cards are the credit cards that have been specially designed for college students. College credit cards are more popularly known as student credit cards. College credit cards allow the students to experience the benefits of credit cards much earlier in their life. Through college credit cards, the college students are able to learn more about credit cards and their use. In fact, for most of the students, their college credit card is their first credit card that acts as a gateway to the world of credit cards. Some other students might have previously used supplementary credit cards linked to their father's credit card account; however, for such students too, their college credit card is the first one that is truly theirs.
College credit cards are not very different from other types of credit cards in the basic sense; they function in the same way as any credit card would. However, there are some differences, which basically arise from the fact that college credit cards are used by people who have no prior experience with credit cards and who perhaps don't understand the concept of credit cards completely. Hence, the credit card supplier is at risk with issuing credit cards (college credit cards) to such people whom he is not sure about. Most of the students don't have a credit history either. In such a case, the supplier of college credit card cannot be sure of receiving the credit card bill payments in time (and even receiving them at all). To counter such risks, the supplier of college credit card requires the parent of the student to co-sign the college credit card application form as a guarantee. Moreover, the credit limit on college credit cards is generally around $500-$1000 per month, which is lower than what it is for other credit cards (this credit limit is generally sufficient to fulfil the typical needs of a student). Another risk mitigation instrument used by the college credit card suppliers is the interest rate or APR. The APR on college credit cards is generally higher than that for other credit cards. Again, this is done to dissuade the students from overspending on their college credit card (and finally not being able to pay their credit card bills). However, if we were to look at these impositions in a positive sense, we would find that these are actually in favour of the student (who is still getting trained to take on the real world of credit cards). Moreover, college credit cards also help the students in establishing a (good) credit history which is another important benefit that becomes handy when the student needs any type of loan at a later stage in his/her life.
So, college credit cards are really something that every student should consider going for.
Credit Cards messed up my Credit, why do I need them?
Credit Cards messed up my Credit, why do I need them?
by Mike Clover
Credit Cards may have been the reason your credit got the way it is. So you decided not to ever have a credit card again. I know credit cards are evil, but they are a necessary evil to establish credit. Let's assume you have messed up your credit report with credit cards in the past. So now you must re-establish your credit. What is the quickest way to establish new credit? Most people don know this but credit cards help your credit rating. So you need 1 to 2 cards reporting to your credit report. Ok, but back to the re-establishing credit after some credit issues. You need to go get a Secure Credit Card, this is the quickest way to get your credit score on the rise. Yes, you need to deposit money with the bank, but it's your money, and you quickly start the process of reporting good credit to all 3 bureaus. Here are some great secure credit cards I highly recommend that does not have a bunch of outrageous fees. 1. Orchard Bank 2. First Premier Bank
These two Secure Credit Cards usually start reporting to the Bureaus to establish good credit with in 60 days. These cards will quickly allow you to get your Credit Score in the right direction. I have talked about how to keep your balances low and what percentage of the allowed credit to charge up. You want to keep your balanced that is charged on your card 30% or less of allowed credit limit. While you are dong all of this, you can keep in the back of your mind, that every six months these credit card companies usually will allow you to ask for credit limit increases as long as you are in good standing. Remember once your balanced owed drop below 30% of your allowed credit limit, your credit scores will increase.
Who cares if you have had problems in the past because of credit cards, I am sure by now you have learned not to make the same mistake twice. Credit Cards are necessary to get the better rate on that loan; it is another way to show your ability to pay back a creditor that has extended credit to you. This is what Credit Reports are all about, who is reporting you, and your ability to pay back obligations. In a nutshell credit cards are necessary so if you don't have one I would get the process going.
by Mike Clover
Credit Cards may have been the reason your credit got the way it is. So you decided not to ever have a credit card again. I know credit cards are evil, but they are a necessary evil to establish credit. Let's assume you have messed up your credit report with credit cards in the past. So now you must re-establish your credit. What is the quickest way to establish new credit? Most people don know this but credit cards help your credit rating. So you need 1 to 2 cards reporting to your credit report. Ok, but back to the re-establishing credit after some credit issues. You need to go get a Secure Credit Card, this is the quickest way to get your credit score on the rise. Yes, you need to deposit money with the bank, but it's your money, and you quickly start the process of reporting good credit to all 3 bureaus. Here are some great secure credit cards I highly recommend that does not have a bunch of outrageous fees. 1. Orchard Bank 2. First Premier Bank
These two Secure Credit Cards usually start reporting to the Bureaus to establish good credit with in 60 days. These cards will quickly allow you to get your Credit Score in the right direction. I have talked about how to keep your balances low and what percentage of the allowed credit to charge up. You want to keep your balanced that is charged on your card 30% or less of allowed credit limit. While you are dong all of this, you can keep in the back of your mind, that every six months these credit card companies usually will allow you to ask for credit limit increases as long as you are in good standing. Remember once your balanced owed drop below 30% of your allowed credit limit, your credit scores will increase.
Who cares if you have had problems in the past because of credit cards, I am sure by now you have learned not to make the same mistake twice. Credit Cards are necessary to get the better rate on that loan; it is another way to show your ability to pay back a creditor that has extended credit to you. This is what Credit Reports are all about, who is reporting you, and your ability to pay back obligations. In a nutshell credit cards are necessary so if you don't have one I would get the process going.
วันอาทิตย์ที่ 9 ธันวาคม พ.ศ. 2550
Protection from Credit Card Fraud
Protection from Credit Card Fraud
by Ernie
These are some key tips to help you from idenity fraud
Sign new cards immediately. When you receive your new or replacement card in the mail, sign it, in ink, right away. If it is a replacement card, destroy the old card by cutting it into many small pieces.
Shred old credit card receipts. You can purchase an inexpensive paper shredder at an office supply store. All old receipts with your credit card number and any unneeded documents with your social insurance number or other sensitive personal information should be shredded before disposal. This prevents the common practice of criminals going through the trash to find receipts and stealing your identity
Never fax your credit card number. Your credit card number can lie for hours in the fax basket at the other end. Anyone passing by can record your number and begin to use your card number fraudulently. It is even possible for criminals to intercept your credit card number while the fax is in transmission.
Use caution when giving your credit card number out on the phone or on the Internet. Only give out your credit card number on telephone calls you initiate to business or organizations you trust. Never give your number out to callers who call unannounced, no matter how legitimate the call sounds.
On the Internet, look for an Internet address that begins https:\. The “s†indicates that it is a secure connection and a small padlock symbol should appear in the bottom right hand corner of your screen, indicating it is safe to transmit your credit card number.
Call your credit card company instantly if you suspect trouble. All credit card companies have 24 hour lost and stolen help lines. If you lose your wallet or purse or have it stolen, call without delay! Much fraud happens within the first hour or two, before the victim realizes the cards are missing. Your credit card company will block your cards from being used and stop you from being responsible for any charges thieves incur.
Take advantage of any security features your card offers. Many newer cards have the option of including your photograph on the card. This is excellent protection and is highly recommended.
by Ernie
These are some key tips to help you from idenity fraud
Sign new cards immediately. When you receive your new or replacement card in the mail, sign it, in ink, right away. If it is a replacement card, destroy the old card by cutting it into many small pieces.
Shred old credit card receipts. You can purchase an inexpensive paper shredder at an office supply store. All old receipts with your credit card number and any unneeded documents with your social insurance number or other sensitive personal information should be shredded before disposal. This prevents the common practice of criminals going through the trash to find receipts and stealing your identity
Never fax your credit card number. Your credit card number can lie for hours in the fax basket at the other end. Anyone passing by can record your number and begin to use your card number fraudulently. It is even possible for criminals to intercept your credit card number while the fax is in transmission.
Use caution when giving your credit card number out on the phone or on the Internet. Only give out your credit card number on telephone calls you initiate to business or organizations you trust. Never give your number out to callers who call unannounced, no matter how legitimate the call sounds.
On the Internet, look for an Internet address that begins https:\. The “s†indicates that it is a secure connection and a small padlock symbol should appear in the bottom right hand corner of your screen, indicating it is safe to transmit your credit card number.
Call your credit card company instantly if you suspect trouble. All credit card companies have 24 hour lost and stolen help lines. If you lose your wallet or purse or have it stolen, call without delay! Much fraud happens within the first hour or two, before the victim realizes the cards are missing. Your credit card company will block your cards from being used and stop you from being responsible for any charges thieves incur.
Take advantage of any security features your card offers. Many newer cards have the option of including your photograph on the card. This is excellent protection and is highly recommended.
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