Credit Card Processing Company in USA

Accept Credit Card Online Merchant Accounts
By Shane Penrod

Learn how you can accept credit card online merchant account
payments by applying for this special account soon. Many
first-rate banks, credit unions, or other types of lenders are
eager for your business and will provide great deals on a
merchant account. You can browse the many available services on
the Internet by using a search engine for “merchant services
account” or a related keyword. Then start comparing the various
deals, costs, and terms for those that will best serve your
company’s needs and clients’ interests.

To accept credit card online merchant account payments, first
find the best lender and account terms that you can trust to
represent and safeguard your business interests. Once you have
located a company to work with, you may want to run a check
through the Better Business Bureau if you are not familiar with
the company’s name or history. When you are satisfied as to the
company’s ability to provide a helpful merchant services
account, negotiate the most relevant equipment, costs, and
services to benefit your company. Don’t be sold on additional
features that you cannot afford and do not need. You can always
add these later after profits increase and your client base
grows. At the outset, try a simple merchant account start-up
plan that will address your most pressing needs first.

After applying and getting approved for a merchant services
account that will let you accept credit card online merchant
account purchases, select the credit processing equipment that
fits your customers’ purchasing patterns. For example, if they
shop at a physical location like a shop or restaurant, a simple
credit card processor with a combined terminal and printer that
can be plugged into the wall near the cash register is your
best bet. If you process many e-checks or debit transactions,
consider adding this equipment as well. You may wish to add a
wireless credit card processor for remote destinations or
delivery services so that an employee can accept credit
payments promptly rather than waiting for the billing process.
Compare the cost of buying versus leasing this equipment, along
with transaction and maintenance fees.

The next level of e-commerce that can help expand the way that
you accept credit card online merchant account payments is by
establishing a company Website with a credit payment feature.
Work with a graphic designer to develop a site that will
attract current and new customers and keep them coming back.
Offer product and service descriptions, price lists, industry
tips, and other information that will make your site useful and
interesting. Then people who come to browse will be impressed
with your set-up and perhaps stay to shop and make credit card
purchases online.

Get ready to extend your business practices into the 21st
century by providing credit payment options to customers at
every level of commerce, from on-site at your store to
Web-based purchases. Your customers and employees will
appreciate this sophisticated upgrade in payment options when
you to learn how to accept credit card online merchant account
transactions.

About the Author: Shane Penrod is the founder of

Merchant-Account-Quotes.com Specializing in allowing merchants

the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com

Source: http://www.isnare.com

Credit Card Processing Company in USA

Credit Card - Advantages And Disadvantages
By Carmin Olivier

A credit card can be an asset to your lifestyle, but if not
handled carefully it can become a liability, especially if you
find it so convenient and easy to use that you lose control of
your spending.

This short guide will help you understand how you can use your
credit card so it works to your advantage, not against you.

Advantages

A credit card can:

1. Offer free use of funds, provided you always pay your
balance in full, on time.
2. Be more convenient to carry than cash.
3. Help you establish a good credit history.
4. Provide a convenient payment method for purchases made on
the Internet and over the telephone.
5. Give you incentives, such as reward points, that you can
redeem.

Disadvantages

On the other hand, credit cards can:

1. Cost much more than other forms of credit, such as a line of
credit or a personal loan, if you don’t pay on time.
2. Damage your credit rating if your payments are late;
3. Allow you to build up more debt than you can handle;
4. Have complicated terms and conditions;

What is a credit card?

A credit card is more then a simple piece of plastic, it is
first and foremost a flexible payment tool accepted at 30
million locations worldwide, and if the card balance is paid off
every month, then no interest is charged on purchases made so,
essentially, short-term credit is granted without the consumer
paying any interest.

Among its many features it provides:

1. Access to unsecured credit (no collateral required against
amounts charged)
2. Interest-free payment from time of purchase to the end of
the billing period
3. Instant payment of purchases, allowing for instant receipt
of goods and services
4. 24/7 access
5. Fraud protection

However before you decide to use your credit card, carefully
consider all of the factors and weigh them against your personal
needs and values.

What about credit card control?

Handling money and credit cards wisely is a talent few of us
are born with. But it is a skill that can easily be learned. The
place to start is with budgeting.

What is a Budget?

It’s simply an organized way of managing your finances,
basically, it gives you an overall picture of where your money
is coming from, when it’s coming in and how it’s being spent. A
budget should be flexible, changing according to your
circumstances.

Why Budget?

Budgeting helps us achieve short-term goals like paying the
monthly bills on time; it’s also for longer-term financial goals
like buying a home, a car, paying for an education, wedding or a
holiday. When you take control of your financial affairs, you’re
more confident about the future.

A budget is key to financial control. It gives you a “Polaroid
picture” of where you stand financially and where you’re
heading.

Credit card control tips

Use a low or no-fee credit card and save on the annual fee that
some companies charge.

Only charge to your credit cards what you can pay off in full
when the bill comes.

You might not use your credit card as much if you start
believing that you have to pay off your entire balance at the
end of each month.

A good way to help to reduce what you pay on your credit card
is to search for a card with a lower interest rate. Many
financial institutions now offer at least one of these types of
cards.

Remember that when you take a cash advance on your credit card,
the interest starts accumulating immediately and not on the due
date of your credit card bill.

Also keep in mind that if you make only the minimum monthly
repayment you may never get out of debt.

Conclusion

The main advantage of having a credit card is convenience but
if you're not good at budgeting and managing your finances, the
over-use of credit cards can leave you with a debt that's very
difficult to pay back.

About the Author: Carmin Olivier is the webmaster of
http://www.findyourcreditcards.com If You're looking for good
credit card deal visit http://www.findyourcreditcards.com

Source: http://www.isnare.com

Credit Card Processing Company in USA

Merchant Credit Card Services
By [http://ezinearticles.com/?expert=Alison_Cole]Alison Cole

Studies have shown that you can increase your business sales manifold if you accept credit card payments from your customers. This is because most people are not like to carry cash around, and so using their debit card or credit card is their preferred mode of payment. Suppose, you own an online store where people can make orders by the click of the mouse. It follows naturally that you should be also in a position to accept credit card payments online. Then there may be situations where the people would prefer to make their orders by phone. There are companies that give a toll free number and the people can place their orders and give their credit card information based on voice prompts.

To accept credit card payments, you need to have an online merchant account with any financial institution, bank, or acquiring institutions. These institutions will deposit the money accepted through a website into your account. Apart from getting a merchant account, you must also get a payment gateway. As the name itself suggests, the payment gateway is a gateway, actually a code, which processes and validates the credit card information by sending the information provided to the credit card company and gets an accept or decline message. On getting the accept message, the gateway then transmits the amount from the website to the merchant account.

Address verification is the most important aspect of credit card services, as it is essential to fight against credit card fraud. Some credit card companies ask for the CID or the credit card identification digits.

Software such as the IC Verify (DOS winpopup), PCAuthorize (Windows), or MacAuthorize (Mac) These software are required to process the credit cards.

As a merchant, you can accept credit card information on your own website or on the website of the acquiring institutions, with whom you have your merchant account. These institutions charge a nominal fee for their services, but the increase in sales is well worth the investment. [http://www.MerchantServices-Web.com]Merchant Services provides detailed information about merchant services, e-commerce merchant services, high risk merchant accounts, internet merchant services and more. Merchant Services is the sister site of [http://www.e-TelecomAudits.com]Telecom Audits Info.

Article Source: http://EzineArticles.com/?expert=Alison_Cole http://EzineArticles.com/?Merchant-Credit-Card-Services&id=144902

Credit Card Processing Company in USA

Credit Card Basics
By Mansi Aggarwal

“Which bank’s credit card do you have?”, “what is its credit
limit”, “what type of card is it”…such questions are on
everybody’s lips today. The world seems to have been squeezed
and wrapped into a credit card. Nowadays everybody speaks and
grasps the language of credit cards. The credit card syndrome
seems to have gripped all of us.

But are credit cards only beneficial? Let us analyze the pros
and cons of this pocket plastic and see what outweighs the
other.

The Benefits of a Credit Card:

• Keep heavy cash in abeyance—money is the most coveted thing
in this world. Carrying lot of cash wherever you go is always a
bone of contention. A credit card facilitates you to travel
without heavy cash and have a carefree and happy trip or
shopping.

• Imagine yourself out for shopping in a wonderful mall. While
you shop, you remember to take boots for your son, spectacles
for mother, necklace for your beloved wife…but falling short of
money! The credit card is your best friend in such a situation.

• Even if you lose your credit card, you need not be
apprehensive and scared the way you get when you lose your
cash. This is because you can get the card freezed or blocked
from the bank and relax.

• Credit card works anywhere and everywhere nowadays. You just
need to bag your card and make a move to any destination
without bothering for money.

• Loan facility can also be availed via credit cards.

The Negative Aspect of Surge in Credit Card usage

• Generally everybody does not meet the eligibility criterion
to hold a credit card. yet in order to enhance their sales and
as part of marketing strategies, companies, private banks etc.
do away with giving these cards to who so ever caters even to
the minimum terms and conditions.

• The loan factor-the cards provide you with huge credit
limits. The consumer ignorant of the forthcoming trouble, keeps
on drawing money from his card and most often when he realizes
his mistake, it is too late. He not only comes in the debt of
the money he withdrew but also the massive interest that is
charged by these companies and banks.

• Many credit card companies provide lucrative offers almost
every month in the form of incentives. These incentives are
basically meant to boost the sale of their product. Incentives
like travel programs, gas purchases etc. are a very common
phenomenon these days. But one should not get lured by these
for it is well said that everything that glitters is not gold.
Initially the cards might be promising for some cheerful
moments but once you become habitual of them they can land you
in soup.

• The addictiveness- it is most often the addictiveness of
these cards that is a source of trouble. People, who keep on
drawing from the bank’s or company’s credit, suffer largely.

• Debit cards are believed to be different from the credit
cards. But actually the difference is minute. A debit card can
also be used as a credit card at times and there are some
eminent banks that charge fee with the debit cards too. So more
or less the situation remains to be the same.

When you make up your mind to go for a debit card, consult some
advisor. Know the details of the interest rate, the tenure to
repay the amount and other such things. Do not be carried away
by brand names. Just make a survey first and then decide which
one to go for.

About the Author: Mansi aggarwal writes about credit card.
Learn more at http://www.wisecreditcarduse.com .

Source: http://www.isnare.com

Credit Card Processing Company In USA

Credit Card Basics
By Mansi Aggarwal

“Which bank’s credit card do you have?”, “what is its credit
limit”, “what type of card is it”…such questions are on
everybody’s lips today. The world seems to have been squeezed
and wrapped into a credit card. Nowadays everybody speaks and
grasps the language of credit cards. The credit card syndrome
seems to have gripped all of us.

But are credit cards only beneficial? Let us analyze the pros
and cons of this pocket plastic and see what outweighs the
other.

The Benefits of a Credit Card:

• Keep heavy cash in abeyance—money is the most coveted thing
in this world. Carrying lot of cash wherever you go is always a
bone of contention. A credit card facilitates you to travel
without heavy cash and have a carefree and happy trip or
shopping.

• Imagine yourself out for shopping in a wonderful mall. While
you shop, you remember to take boots for your son, spectacles
for mother, necklace for your beloved wife…but falling short of
money! The credit card is your best friend in such a situation.

• Even if you lose your credit card, you need not be
apprehensive and scared the way you get when you lose your
cash. This is because you can get the card freezed or blocked
from the bank and relax.

• Credit card works anywhere and everywhere nowadays. You just
need to bag your card and make a move to any destination
without bothering for money.

• Loan facility can also be availed via credit cards.

The Negative Aspect of Surge in Credit Card usage

• Generally everybody does not meet the eligibility criterion
to hold a credit card. yet in order to enhance their sales and
as part of marketing strategies, companies, private banks etc.
do away with giving these cards to who so ever caters even to
the minimum terms and conditions.

• The loan factor-the cards provide you with huge credit
limits. The consumer ignorant of the forthcoming trouble, keeps
on drawing money from his card and most often when he realizes
his mistake, it is too late. He not only comes in the debt of
the money he withdrew but also the massive interest that is
charged by these companies and banks.

• Many credit card companies provide lucrative offers almost
every month in the form of incentives. These incentives are
basically meant to boost the sale of their product. Incentives
like travel programs, gas purchases etc. are a very common
phenomenon these days. But one should not get lured by these
for it is well said that everything that glitters is not gold.
Initially the cards might be promising for some cheerful
moments but once you become habitual of them they can land you
in soup.

• The addictiveness- it is most often the addictiveness of
these cards that is a source of trouble. People, who keep on
drawing from the bank’s or company’s credit, suffer largely.

• Debit cards are believed to be different from the credit
cards. But actually the difference is minute. A debit card can
also be used as a credit card at times and there are some
eminent banks that charge fee with the debit cards too. So more
or less the situation remains to be the same.

When you make up your mind to go for a debit card, consult some
advisor. Know the details of the interest rate, the tenure to
repay the amount and other such things. Do not be carried away
by brand names. Just make a survey first and then decide which
one to go for.

About the Author: Mansi aggarwal writes about credit card.
Learn more at http://www.wisecreditcarduse.com .

Source: http://www.isnare.com

Credit Card Processing Company in USA

Credit Card Processing On The Internet
By Ted Roxan

So you have finally finished your e-commerce web site, hired
the best web publisher, added all the bells and whistles,
outstanding graphics, and great merchandise. Now, how does your
prospective customer pay you for your products? Clearly, it is
necessary for your site to accept, and process credit card
payments, in real time. Failure to do so, would result in a
failing enterprise.

Before you can begin the application process, there are several
standards that all credit card processors have set. Follow this
checklist and you will save yourself a significant amount of
time, and aggravation.

1) The checkout, and transaction pages must be secure. This
protects the customer from credit card, or identity fraud,
which has become epidemic. You achieve this “security” by
installing a secure socket layer certificate, or SSL. SSL
encrypts information being entered on your site as it is sent
across the Internet, so hackers are unable to steal the
transmitted information. This Certificate has become very
common, and any web host would be able to assist you.

2) A robust Shopping Cart software that utilizes the highest
degree of security, and is compatible with the credit card
processor. This program must be able to receive, and process
orders. Collect personal data, and securely transmit the credit
card data from software to the credit card processor. Most
importantly, the software should provide the building blocks
for a complete, successful customer experience.

3) Your server must have a firewall, especially if you plan on
storing the credit card information on your server. Basically,
a firewall is a combination of software, and hardware, that
inspects incoming data, and filters unwanted, or potentially
destructive packets of information. This firewall will not
allow hackers to enter your server, and steal sensitive
information.

When all these conditions have been met, you are ready to
contact your bank to open a credit card merchant’s account.
Once your account is opened, your bank will suggest a credit
card Gateway. A credit card Gateway receives the customer’s
credit card information from your web site, approves or
declines the charge, and ultimately transmits money to your
bank.

Although the process appears to be very complicated, it is
quite straightforward when you know what you are doing. Plan
ahead, avoid frustration, and provide your customers with an
easy, secure experience that will make them come back for more.

About the Author: Ted Roxan is a contributing editor of
Internet Credit Card Processing Resource. For more details on
Internet merchant accounts and Credit Card processors go to:
http://myinternet-credit-card-processing.com/

Source: http://www.isnare.com

Credit Card Processing Company in USA

The History of Credit Card Processing in America
By [http://ezinearticles.com/?expert=Mike_Knudtson]Mike Knudtson

Charge cards can be dated back to the early 1900s. In 1914, what seems purely as a customer service goodwill gesture, Western Union gave some of their prominent (preferred) customers a metal card to be used in deferring payments-interest free-on services used. One source said this card became known as "Metal Money."

As time progressed so did the charge card. Up till the start of WW II, department stores, communication companies, travel and delivery companies, and oil companies had extended this service to their preferred customers. These company based charge cards were limited by their use exclusively through the issuing company. These companies issued the cards, processed the transactions, and collected the debts from the customer.

In WW II, the use of credit and charge cards was prohibited.

After WW II, credit cards became more accessible to the general public After seeing trends indicating increased travel and spending among those who held charge cards, banks became interested in credit cards-after all they were in the business of lending money, and they saw the profit potential behind attaching interest to the cards.

When banks first got into the credit card business, they were only issuing cards to local consumers. In 1951, the Franklin National Bank in New York, issued the "Charge It" card. Which allowed customers to charge purchases at local stores. This charge card system worked much like credit card systems work today. The consumer made a purchase using the card; the merchant performed a credit authorization from the network, then completed the sale. The bank would reimburse the retailer and collect the debt from the consumer at a later date. Other banks across the nation were impressed with the success of this process that within several years after the "Charge It" card they offered their customers similar services for making purchases at local retail establishments.

In the 1950s the first charge card was developed that allowed consumers to make charges for services and goods from a variety of retail outlets. This innovation was the Diner's Club charge card, which was established for business men to use for travel and entertainment expenses. The Diner's Club card gave its members up to 60-days to make payment.

The first "revolving-credit" card was issued in the State of California by the Bank of America. The card, BankAmericard, was marketed all across the state. This card set another milestone in the development of the credit card industry. The BankAmericard was the first card to give cardholders payment options. Payment options like today's cards, let consumers pay the debt in whole or they could make monthly minimum payments while the banks charged interest on the remaining balances.

By the 1960s, bank card associations begun to emerge. In 1965, Bank of America issued licensing agreements to other banks-both large and small-across the nation. These licensing agreements permitted regional banks to issue BankAmericards and to exchange transactions through issuing banks.

By 1969, most independent bank charge cards had been converted over to either the BankAmericard or Master Charge cards.

Eventually, charge card issuing and processing became too large of a task for the banking industry to handle. That is what lead to the emergence of credit card associations such as Interlink Association, Western States Bank Card Association, and National BankAmericard Inc. Current associations include Visa and Master Card.

The next major changes in the credit card industry involved streamlining transaction processing and reducing credit card fraud. In the early 1970s, electronic authorizations allowed the retail establishment to get approval for credit card transactions 24 hours per day.

By the mid 1970s, the credit card industry started exploring international waters, but had some difficulty because of the name association; "America" in BankAmericard, for instance. This lead to the renaming of BankAmericard to Visa and Master Charge followed suit by changing its name to Master Card.

By 1979, electronic processing was improving. Electronic dial up terminals and magnetic strips on the back of credit cards allowed retailers to swipe the customer's credit card through the dial up terminal, which accessed issuing bank card holder information. This process gave authorizations and processed settlement agreements in a mater of 1-2 minutes. An added benefit was paper reduction.

The early 1980s, gave birth to the first Automatic Teller Machines (ATMs), which allowed consumers access to cash, and to make deposits, 24 hours a day across our nation and in other countries as well. Credit card holders could access cash in different currencies.

Since its existence, Visa has been a leader in credit card innovation. Because of this they have emerged as the world's leading credit card association with over 1-billion cards being issued, and carrying over 50% of all credit card transactions conducted world wide.

"Visa (International) is a "not for profit" organization comprised of over 40,000 member Banks and MasterCard is a for "Profit" company who issues credit cards and sets and maintain rules for credit card acceptance and processing. They are both run by board members who are mostly high-level executives from their member banks and industry heavy hitters."

There are five leaders in the credit card industry: Visa International, MasterCard, American Express, Discover and Diner's Club. There are others trying to penetrate the industry like check processing companies, Euro Card, JCB and ATM companies but credit cards still account for over 90% of all e-commerce transactions!

Mike Knudtson is the co-founder of the Fastcharge [http://www.fastcharge.com]Payment Gateway and the founder of [http://www.electronictransfer.com]merchant account provider Electronic Transfer, Inc.. He has helped thousands of merchants set up retail and ecommerce payment processing for their business. Electronic Transfer, Inc. is one of the leading merchant service companies serving merchants since 1989.

Article Source: http://EzineArticles.com/?expert=Mike_Knudtson http://EzineArticles.com/?The-History-of-Credit-Card-Processing-in-America&id=599795

Credit Card Processing Company in USA

Avoiding Credit Card Traps
By James Dimmitt

The next time you open your credit card statement, take a
closer look at the small insert titled “changes to your credit
card agreement”. You know the one I’m speaking about. It’s
that small, folded paper written in legalese that you promise
to read some other time (but of course that time never comes)
or you just discard it with the other “junk” inserts.

First and foremost you must understand that using your credit
card after you’ve received this notification results in your
automatic “agreement” to the new terms in the notice. To
prevent these new terms from affecting your account you must
stop using that credit card immediately or by the date given in
the notification statement.

The most common modifications to credit card agreements include
new APR’s (annual percentage rates), new fees and/or changes to
existing fees, or a change to the grace period on your account.
The grace period is the number of days during which any credit
used for purchases may be repaid in full without incurring a
finance charge.

Not knowing or not keeping track of the dollar amount limit on
your card is another trap you should avoid. Credit card
issuers will allow you to charge a small amount over the limit
set on your account. However, don’t be surprised when you get
hit with an “over limit fee”, usually around $35.00 or higher,
on your next statement. Also, be prepared for your APR to be
increased if you go over your credit limit.

You’ll also trigger an increase to your interest rate if you
miss your payment due date. Some companies consider your
payment late if not received by noon or 1 p.m. on the date due.

Along with the higher rate, you’ll also pay a “late fee” of $29
on up. Be sure to use the company’s preprinted envelope when
sending your payment. These envelopes allow the pre-printed
bar code to be scanned by the post office so that it can be
delivered more efficiently.

If you’ve counted on those few extra days from the time you
mail your check and the time the check clears your bank,
beware! Many credit card issuers have switched from the
traditional method of processing checks to a new electronic
process. This new system shaves off a day or more from the
traditional method it normally takes for your check to clear by
electronically debiting your account.

If you’re considering paying your credit card bills online,
check to see if any additional fees will be charged for using
this type of payment. I recently received an e-mail message
from one of my credit card companies announcing how easy it
would be to make my payments online. Included in fine print at
the bottom of the e-mail was this note - “A fee of up to $14.95
may be charged for this service and will be deducted from your
checking account”. Hmmm, spend 37 cents on postage and mail my
payment five days before the due date or pay now and get charged
an additional $14.95 fee? I’ll bet you can guess which choice I
made.

Taking the time to carefully read and understand your credit
card agreement now will help you save money by avoiding
unnecessary fees or climbing interest rates later down the
road.

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

Credit Card Processing Company In USA

Credit Card Late Fees - How to Avoid Them
By Joseph Kenny

Credit cards have become a common means of paying bills. It is very convenient because you need not make any cash payments from your pocket. Though credit cards are easy to use, they come with a fee that is charged by the credit card company. It is advisable to pay credit card fees on time because being late will cost you a lot of money.

Many credit card companies charge a penalty for late fees, so it is advisable to pay up in time, to avoid the penalty. The average late fee for credit card used to be 12 dollars in 1994; by 2004, it rose to 32.65 dollars. It has now gone up to a whopping 39-40 dollars. Hence, it is prudent not to delay your payment.

You can stay away from late fees by various methods.

1. The best way to avoid late fees is to be fully aware of all the conditions and restrictions related to your credit card company. You can get the information of the guidelines on the back of the credit card bill that your company sends you. Try to make use of the specified instructions of payment in order to ensure that your money reaches them on time, without any problem.

2. Having a good record can always help. As a responsible credit card user, you must try to maintain a good record of your payments because many companies that issue credit cards make considerations on the late fees if you have a good payment record. They do this as a special courtesy for their responsible customers.

3. If you forget to pay your credit card fees, and the due date is already upon you, you can avoid the late fees by paying via the telephone, instead of using the mail. To enable this, there is a toll free number on the back of every credit card. In order to make payment you need a check number and a bank routing number. You can find these numbers at the bottom of every check. Once you make the payment you should tear off that check, as you cannot use it again. Some credit card companies keep this facility free of cost for their customers while others charge about 5 to 20 dollars. Make it a point to ask your credit card company about this facility.

4. In case your company does not offer you the facility to pay your bills by phone, then you can always use express mail for payments. Although using the express method may cost you extra money, it will be less than the late fee that your issuer may impose on you. Besides, it will help you send your money to the company as soon as possible.

5. Try paying online. Many companies accept payment through the Internet. This method can prove to be very useful if you are traveling.

6. If you do not have the required cash to pay your bills and the due date is approaching, then you can talk to your credit card company and set your own due date for payment. Set the due date at a time when your salary arrives. Hence, enabling you to pay your bills without late fees.

Therefore, in order to keep your credit card use hassle-free, remember to make your payments on time and in the right manner specified by your credit card issuer. Try and stay out of the late-payment cycle to avoid the extra cost in the form of late fees.

Joe Kenny writes for CardGuide.co.uk, offering UK credit card comparison, visit them today for more best buy credit cards.
Visit today: www.cardguide.co.uk

Article Source: http://EzineArticles.com/?expert=Joseph_Kenny
http://EzineArticles.com/?Credit-Card-Late-Fees---How-to-Avoid-Them&id=346522























Credit cards have become a common means of paying bills. It is very convenient because you need not make any cash payments from your pocket. Though credit cards are easy to use, they come with a fee that is charged by the credit card company.

Credit Card Processing Company In USA

How to Understand Credit Card Processing
By Mario G. Churchill

Many people are aware that after they fill out a credit card application, it has to go through a few considerations on behalf of the credit card company, and that this is known as credit card processing. This process may seem to be a vague technicality for individuals who apply for a credit card, through which they will eventually learn if their application for the credit card will be approved or denied. By understanding specifically what happens during the credit card processing procedure, an individual can make sure that their information will be applied to a card that they will be more likely to get accepted when it comes to their application. If a person tries to apply for too many cards at once, they may be denied only on the basis that too many people or companies are accessing their credit file at that point in time. A person that applies to a bunch of credit cards all at once may be desperate about their financial situation and will apply for any and every credit card just to help ensure that they will be able to get some help. However, this approach may end up hurting the individual more than helping, and they may not be able to get any help from any of the credit card companies for which they apply. By understanding what is being looked at in the credit card processing state, an individual can more accurately ensure that they will be able to get a credit card by making sure that their personal information falls in line with what the credit card company is looking for in their candidates.

A credit score is a person’s rating based on the credit that they have accumulated over the years. The higher a person’s score is, the more likely they are to be considered a successful candidate for the credit card company and in return be issued a card. There are a number of things that will influence a person’s credit rating and even if a person does not know their exact credit score, they can generate a fairly accurate idea of what it would be by looking at the different things that generate the score. For example, making timely payments for other credit cards and bills will increase the rating. Missing payments will likely detract from the rating. Having more bills and credit cards and loans will make a person less likely to get another credit card, and this is especially the case when the individual has missed payments on any of these things within the last 12-24 months. There is one instance in the United States in which a person’s credit will not be affected. This is if a person misses a medical bill payment or has outstanding debt with a physician, hospital or other medical company.

The social security number will be needed as well. This is required to be valid and will be used in order to check the credit of the individual. Because of this, it is very important that the person be able to supply the correct and accurate social security number. If the name and social security number do not match up, the individual will not be able to get approved since the company will not be able to accurately research the individual.

Mario Churchill is a freelance author and has written many articles on various subjects. For more information on blue american express or to get a american express blue card checkout his websites.

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Airmiles Credit Cards - Just Another Reward Scheme?
By Joseph Kenny

There are many incentives for taking out a new credit card. Long term low interest rates are attractive. So too are 0% balance transfer and purchase rates, but these only last a short time. However, there are other rewards that last for the life of the credit card and that are attractive to most credit card purchasers. One of these is the air miles scheme.

What Are Air Miles?

The Air Miles scheme is a loyalty scheme that allows customers to collect points for everyday purchases from a number of high street and online retailers. Points can also be collected on travel, hotel bookings, currency exchange and travel insurance. Air Miles can be spent on travel to different destinations. Different points totals are needed for different destinations, depending on the distance from the starting point, the time of year and what deals are available. For example, going to Paris requires about 400 air miles, while travelling to Sydney requires about 4,000.

How Can I Earn Air Miles With My Credit Card?

Earning air miles with a credit card is very simple. First of all, sign up for a credit card that offers air miles as a reward. There are several of these offered by different credit card companies. Credit card companies that offer air miles credit cards include Nat West, Royal Bank of Scotland, Cooperative Bank, Morgan Stanley and American Express. Some credit card companies offer their own air miles schemes, such as the one done in conjunction with British Airways.

Some credit card companies require you to sign up separately with the air miles scheme. The advantage of this is that you can earn air miles with other retailers even if you are using a different credit card. Once you've signed up, all you have to do is spend as usual to earn air miles.

Additional Travel Rewards

Many of the credit card companies that offer air miles also offer other travel related rewards. These include travel insurance and other rewards to be applied to travel. Some companies do not offer an air miles scheme, but offer an equivalent travel points scheme. This works on a similar basis to the air miles scheme.

Are There Other Incentives For My Air Miles Credit Card?

Since many air miles credit cards are issued by banks that issue other credit cards, the same advantages may apply to new card holders. Some air miles cards offer 0% on balance transfers and purchases for up to nine months. Others offer a low rate of interest on transferred balances for the life of the balance transfer. These offers will appeal to people who want to earn travel incentives and clear debt at the same time.

It's worth paying attention to the interest rate on the credit card. Some credit cards offer competitive interest rates which will appeal to most credit card users. However, others have high interest rates and some have balance transfer fees. Balance transfer fees are fees charged by credit card companies when people transfer balances to take advantage of preferential rates. The balance transfer fee makes credit card jumping less attractive and helps credit card companies to make some of the interest they would otherwise have lost. There are still credit cards without a balance transfer fee, so it's worth shopping around for these.

Joe Kenny writes for CardGuide.co.uk, with the latest 0% balance transfers, and more credit info in the credit card guide.

Visit today: www.cardguide.co.uk/

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There are many incentives for taking out a new credit card. Long term low interest rates are attractive. So too are 0% balance transfer and purchase rates, but these only last a short time. However, there are other rewards that last for the life of the credit card and that are attractive to most credit card purchasers. One of these is the air miles scheme.

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5 Rules to Apply while Transferring Credit Card Balance
By Aaron Brooks

Owing money to credit cards can turn your life upside down. Interest accrued on money owed becomes so high that you begin to struggle to make payments and balance your book. Many consultants and friends will strongly recommend trying out balance transfer as a way out of the financial tangle. While the option may bail you out temporarily in the long run you may just be increasing your debt.

Here are simple rules to follow when considering transfer of balance owed on credit cards:

1. Determine how long the 0% or low interest rates are valid. Often credit card companies make low or no interest offers to lure clients but the offer has a time limitation after which the interest rate will rise again. Try and find a credit card company that is making a low interest offer for a longer period of time. And only transfer that amount of balance that you are certain of paying back within the period.

2. Read the offer carefully. Most credit card companies charge a transaction fee for credit card balance transfers. Many card companies print important terms and conditions in small fonts. Read the document carefully.

3. When you make a balance transfer ensure that the new company sends a notification to you and the old card company. Verify that the old card company receives all the required paper work and that it acknowledges transfer of balance. Most important is that you must retain both the old and new card for at least a year if you do not wish to damage your credit history.

4. Weigh carefully the pros and cons of 0% for a limited period against a low interest offer over a longer period of time. Sometimes it is advantageous to transfer balance to a low interest credit card instead of a limited offer of 0%. When you calculate things like transaction fees, rising interest and so on you may find there are more advantages to transferring credit card balance to long term low interest card over a short term 0% interest card.

5. Many credit cards that invite transfer of credit card balances charge high rates for use of the card. So, when you use the card to make purchases and so on you will land up paying higher interest rates over what you were paying with your old credit card. It is important for you to understand clearly the functioning of credit cards that invite transfer of credit card balances.

While contemplating a credit card balance transfer think about:

• How much you will save on the whole not just the lowered interest rate.

• Determine how much unpaid balance should be transferred. You need to check whether the 0% or low interest card has in place limits.

• Budget how you are gong to pay your debts. Prioritizing and finance planning is crucial.

• Find out what the fees payable for transfer of funds some credit card companies will charge at least 3% of the amount transferred.

• Find out if an annual card fee will be charged.

• Placing limitations on use of credit cards. Put away the cards and do not give into temptation until you are free of debt.

Debt can be dangerous and the first step to take is to get out of debt by careful knowledgeable planning.

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• I think wondered what's behind Southwest Airlines uncommon Pyrrhic victory, wonder no more. Author Jody Hoffer Gittell lays it all out in The Southwest Airlines Way. Contains a detailed account of the reasons behind the success of Southwest Airlines and how it manages to consistently out perform it is competitors. Much of the content prompts you assess the way you work and most readers should be able to get at least a couple of ideas from the book on how to improve their own workplace.

About the Author : Aaron Brooks is a freelance writer for Free Credit Card , the premier website to find information on Credit Card including topics on credit card market, credit cards, business card credit comparison, card credit processing, credit card reviews, credit card offers, card credit deals and more.

Aaron Brooks is a freelance writer for http://www.1866creditcards.com/ , the premier website to find credit cards, business credit cards, credit card processing, student credit card, low interest credit cards, prepaid credit card, free credit card, credit card at best rate and many more. He also freelances for the premier Trade and Finance Press Release site http://www.1888pressrelease.com/trade-finance-1-28.html

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Owing money to credit cards can turn your life upside down. Interest accrued on money owed becomes so high that you begin to struggle to make payments and balance your book. Many consultants and friends will strongly recommend trying out balance transfer as a way out of the financial tangle. While the option may bail you out temporarily in the long run you may just be increasing your debt.

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International Credit Card Processing
By Thomas Morva

International credit card processing refers to the processing of multi-currency credit card payments. This enables one to offer products and services in over 169 different currencies and receive payment for them in over 29 remittance currencies. Business firms can thereby expand their business into new sales regions and offer a payment routine to customers from different regions of the world.

Banks and their subsidiaries are permitted to issue International Credit Cards. A single card issued would be valid in all countries where dollar transactions can be made. An international credit card helps one avail of services such as air ticket reservations, car rentals, and hotel reservations abroad. Credit card plans also include insurance coverage for theft and fraud.

Processing an international credit card involves authorizing credit cards, withdrawing funds and placing funds in the merchant?s bank account. For this processing, the merchant needs an international merchant account. The international merchant account is an agreement between a credit card processor and the merchant that establishes the rules for accepting credit card purchases and transferring funds. A description of how it works would be appropriate in this context. Imagine that a merchant in USA wants to sell products to a buyer in Europe. The merchant uses the credit card processing company for sale of pictures. The products are sold to the buyer for Euro and remittance will be made in dollars.

Some international credit cards are American Express, Diners Club, Mastercard, Visa, etc. Processing of credit cards is done automatically using appropriate software program. The service of an international credit card processing company can also be utilized for processing international credit cards. The credit card processor provides the expertise and merchant account to help businessmen accept credit cards from buyers of other countries. These companies provide Internet merchant account also so that the merchant can accept credit card online. There are several companies that offer credit card processing services anywhere in the world.

Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with Wireless Credit Card Terminals.

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Which Business Credit Card Is Best for You?
By Richard Gilliland

If you have been a customer for long enough with a particular bank, they may offer business credit card facilities to you. That would be convenient, and the processing and approval of your business credit card application is likely to receive the fast-track treatment. But it may not necessarily be the best business credit card for your needs, so it won’t hurt to look around at what’s available before making your final decision.

There is intense competition these days in the business credit card market. This certainly is to your advantage. Here are some things for you to consider before choosing a business credit card provider:

Paying Off Your Balance: The Business credit card packages on offer from the various credit card issuers differ, as do the terms and conditions of use. You should determine whether you will be paying the full outstanding balance when it falls due or whether you intend making part payments towards this balance. If it is you intention to pay the full amount, you will probably be better off with a charge card, where all charges made are payable within 30 days. Charge cards set no spending limits. If it is you intention to make part payments, a business credit card would be appropriate as it affords you the opportunity to pay off the balance over time. Credit cards normally have set spending limits.

Getting Your Rewards: If you are a frequent traveler, you can get business credit cards that offer you the opportunity to earn miles. Check for mile earnings ceilings and the amount of miles earned per $100 spent, when making your comparison. Beyond these travel points, you can also qualify for discounts or accumulate points for purchases made on your business credit card at participating merchants. The rewards system on most business credit cards are often designed to benefit small business owners. Be sure to read the fine print. It may be that some cards include fees and interest rates that negate any value you may receive from their rewards system.

Picking the Business Credit Card Issuer: One is really spoilt for choice when it comes to selecting credit card issuers. Naturally the biggest players are the huge national banks. Often the regional bank or local bank where you already keep your business accounts, may provide their business customers with attractively packaged business credit card offers, in order to retain their custom.

What is important to note is that whilst there are many companies that issue business credit cards, there are only a few card brands worth considering: Visa, MasterCard, Amex, and Discover. While you are shopping for a business credit card, it you should make a point of obtaining information from these card companies directly. They have business divisions - including one for small businesses - that can provide you with details on the business credit card options that would best suit your needs.

Monitoring Employee Spending: You can arrange for business credit cards to be issued to your key people. This will give you an effective means to monitor representation and business expenses. If you feel that a particular employee has abused the privilege, you should be able to call the bank and they should be able to give you a solution. You would not want to get stuck with having to pay unnecessary bills. You may want to reduce the charge ceilings for your employees in addition to them signing a legal undertaking to cover you should they end up abusing the cards.

Finding a business credit card that closely matches your business’ specific requirements has never been easier. Thanks to the competition between issuers, you also have the opportunity to pay reasonable fees and receive preferential treatment. For business owners, this is a fortuitous set of circumstances indeed.

Richard Gilliland Provides Expert opinions and reviews to help you Compare and

Apply for a Credit Card - Compare

Credit Card Offers with Credit-Wisdom.com - Unraveling the best in Personal and

Business Credit Cards.

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Credit Card Processing
By Shane Penrod

Does your company need credit card processing? It does if you
can benefit from the following:

Credit Card Processing Enhances Your Professional Status. When
customers know that you accept credit payments, they often are
more likely to pay more, return often, and tell their friends
if the service is good. This is because a company that makes
credit payment options available to clients is telling the
world that they care about customers and they are professional
enough to invest in systems that will enhance the shopping
experience for guests. No one likes that disappointed feeling
when, after browsing, you find something you want to buy but
then fail to find enough cash in your wallet to purchase it.
Writing a check may put you over the balance, and you don’t
want to take time to run to the ATM machine to withdraw the
money from savings. When customers can pay with a plastic card,
they may show their appreciation by returning again and again to
shop your store.

Credit Card Processing is Inexpensive. It depends on your
current business budget, of course, but you don’t have to sink
a lot of money into credit card processing equipment. All you
need do is get a merchant account services account, buy or
lease a credit card processing unit, and you are good to go.
Plug it in or take a wireless unit with you on the road to make
credit payments easy, fast, and secure. Plan on paying a
per-transaction fee of perhaps 25 cents or a low interest
monthly rate that may include minimums. Associated expenses may
include discount fees, gateway fees, print statement fees, and
membership costs. There may be others as well. Overall,
however, the benefits of a merchant account outweigh its costs.

Credit Card Processing is Flexible. You don’t have to be stuck
behind the cash register all day to appreciate the advantages
of a merchant account’s ability to provide credit card
processing. You can take a wireless unit from one destination
to another to let clients pay at the point of purchase rather
than wait for billing. You may want to invest in a pager that
will let you provide instant deliveries or prompt responses to
customer inquiries, some of which could lead to direct or
indirect sales with the option of credit card payments. You can
also set up an online Website to accept credit card payments
from potentially billions of customers around the world. It’s
all up to you, of course, as to what you’re ready to do in
terms of growing your company’s sales. You won’t need extra
staff to manage credit card processing, either. In fact, you
may be able to operate some credit card processing systems
automatically when you opt for the telephone payment system or
the Website option. But you will need to have a staff member
available at certain times for questions or troubleshooting
issues.

Don’t get left behind by competitors who already have merchant
account services and customers who expect them. Start browsing
now to learn more about Credit Card Processing.

About the Author: Shane Penrod is the founder of
http://www.Merchant-Account-Quotes.com Specializing in allowing
merchants the ability to shop and compare multiple quotes from
national merchant account providers. For free quotes on
merchant account rates and fees, please go to
http://www.merchant-account-quotes.com

Source: http://www.isnare.com

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Debt Consolidation – Can You Negotiate With Your Credit Card
Company?
By Charles Essmeier



The average American household has nearly $10,000 in credit
card debt, and many people are only able to make the minimum
payment of 2% of the balance. Even 2% is $200, and by paying
the minimum payment, you could be paying on the balance for
decades before you finally pay it off. Since new legislation
will make it more difficult to file for bankruptcy, it may
occur to savvy debtors to try to negotiate a better deal with
their credit card company in order to make it easier to pay off
the balance. Is this possible?

It might be possible, depending on your credit history,
interest rate, and current balance. Your best bet, especially
if you have a history of paying on time, is to simply call your
credit card company and ask if they will lower your interest
rate. They might, especially if you tell them that you got a
better offer from another bank. If you have a history of paying
late, however, they probably will not be willing to lower your
interest rate. That’s unfortunate, since paying late has
probably prompted the credit card company to raise your
interest rate in the first place. Still, it’s worth a phone
call; you may get lucky.

If you’ve been paying your bills on time, asking for a lower
interest rate may be the only option available to you. The
credit card companies aren’t going to be too sympathetic to
your financial woes if they’re receiving payment on time. On
the other hand, if you’re late on your payments, especially if
you’re more than three months behind, you may have some
negotiating leverage. That leverage comes with a few strings
attached, however. You may be able to negotiate a lump-sum
settlement for your outstanding balance, where the credit card
company accepts a portion of your debt and writes off the rest.
They’re often willing to do this instead of turning your debt
over to a collection agency, as it’s cheaper just to settle.
The settlement amount will vary, depending on your interest
rate, your balance and your payment history. This type of
settlement comes with a couple of problems of its own, though.
What if you don’t have the money to settle all at once? If you
can’t pay your bills on time, you probably don’t have the cash
to settle at once. Additionally, the amount of your debt that
gets written off will show up on your credit report as bad
debt, and that will stay there for seven years.

Your credit card company may or may not be willing to work out
a payment plan, but it costs you nothing to ask them, and
negotiating a settlement with them may be cheaper for you than
if you consult with a debt consolidation firm. If your credit
card debt is substantial and you just can’t make the payments,
it’s worth a try.

About the Author: ©Copyright 2005 by Retro Marketing. Charles
Essmeier is the owner of Retro Marketing, a firm devoted to
informational Websites, including http://www.End-Your-Debt.com,
a site devoted to debt consolidation and credit counseling, and
http://www.StructuredSettlementHelp.com, a site devoted to
information regarding structured settlements.

Source: http://www.isnare.com

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Credit Card Authorisation Advice
By Peter Kenny



Most of us use credit or debit cards regularly, and normally there are no problems verifying that these cards belong to us. However, sometimes there are extra security measures or technical problems that make it hard to verify if a card belongs to someone or not. If you find yourself in this situation, there are a number of steps you can take to resolve the situation.

Entering the wrong PIN

If you have a number of cards or are just in a rush, it can be easy to enter the wrong PIN in a cash machine or retail machine. If this happens, you have two more chances to enter the right PIN. Sometimes software error can cause your PIN to not be authorised, especially in handheld chip and PIN machines. If you are unsure of your PIN then stop trying. If you enter the wrong PIN three times then your card will be locked and you will have to call your card issuer to sort out the situation.

Phoning your card issuer

When you need to sort out any disputes or get some questions answered by your card issuer, you will likely need to provide some information. Simply providing your card number and name will not be enough, and either your credit limit, date of birth or bank statement details will also need to be provided. Although this may seem like a tedious process, it is for your own security.

Shop authorisation on the phone

When you buy something from a shop, there are times when extra information is required. These checks are usually done by the card company and are random, and help to monitor security levels. You will usually be asked for some extra personal information or card details in order to verify your purchase. If this happens to you, don’t think you are in trouble, just remember that it is all for your own safety and security.

If your card is denied

There is a possibility that even if you have enough credit your card will be denied. This might mean your card has been used illegally, or simply that the authorisation system is not working properly and your card cannot be verified. Try and remain calm and don’t panic, as this can happen to anyone at any time. You can always try the card again, but if it doesn’t work you will need to use another card or phone up your card issuer immediately. Usually the problem can be sorted very quickly.

Signing for your purchases

If you go anywhere and you are still asked to sign for your goods instead of using Chip and PIN, then be very cautious. Everywhere should get you to use Chip and PIN now, and if they don’t they are putting you and themselves at a greater risk of fraud. Make sure that proper authorisation is given before paying for anything at all. This will help your card to remain safe and secure.

Peter Kenny is a writer for creditcards-gb.co.uk Please visit us at Credit Cards and 0% Balance Transfers
http://www.creditcards2go4.com/

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Choosemyrewards: The New Chase Credit Card Rewards Management Tool
By Russ Nauta

In previous articles, I have discussed travel, cashback, interest-savings, and merchandise rewards programs. These rewards specific cards are geared towards people who are grounded in which type of rewards they would like to earn.

For those who are indecisive or those having different rewards interests at different times of the year, should take an interest in the Chase choosemyrewards program. There are two different flagship cards involved in this program, the Chase Cash Plus Rewards Visa and the Chase Flexible Rewards Visa. Both cards offer 0% APR's for 1 year, and low APR's thereafter. Statistics show however, that the approval rate for the Chase Cash Plus Rewards Visa is higher.

Let's take a minute to explain the choosemyrewards program. Like any other rewards program, there is a point system for both cards. You receive one point for every dollar spent on purchases with each card. When these points are accumulated, you then have the option of redeeming them for a variety of goods or cash. Here is what distinguishes these two cards from all other programs. At any time, you may login to the choosemyrewards page on the Chase server to elect which type of rewards you would like to receive. Choices include merchandise, restaurant gift certificates, retail gift certificates, travel rewards, and with the Chase Cash Plus Rewards Visa up to 5% cashback on purchases.

Many other rewards programs make it very difficult for the consumer to redeem rewards, let alone choose them. Typically, you would have to call up the company, wait on hold to get in touch with the proper customer service representitive, and then listen to them give you your list of options before ultimately processing your decision. With the choosemyrewards program this is not the case. In the mail with your new Chase card, you will receive a login pin number and the web address where you may access your rewards account. After entering your pin number, you may view your points accrued and a list of all rewards options. You may then scroll through the list of options and choose the rewards you would like to receive.

It only gets better. Let's say you logout of your account after you choose your rewards and realize that maybe you didn't really want that gift certificate to Home Depot that you signed up for. Instead you'd like a gift certificate to your favorite restaurant. All you have to do is simply log back in and switch your reward redemption. This is a very simple and painless process and gives you, the consumer much more control.

Many people save their points until the end of the year, because they never expire, and redeem their points to give gift certificates as holiday presents. Others take a trip to a warm place during the winter. Others just simply trump in on a cashback award in the form of a check. Whatever your interest are, or if they change, enrolling in the choosemyrewards program will make your rewards management more user-friendly and thus, much easier.


Russ Nauta is the senior writer and consumer credit information investigator for Credit Card Outlet, a leading online credit card information portal since 2004


Credit Card Outlet features instant approval credit cards, rewards cards, balance transfer cards and low APR cards from major issuing banks.


This article may be reprinted with a published link back to http://www.credit-card-outlet.com.

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Tips For Choosing A Credit Card Company
By John Daley

Credit Cards are essential for any consumer today. However,
when choosing a new credit card company, many people do not
know what to look for. It is important to have a good company
because bad credit card companies can lead users into quite a
bit of trouble. Whether you are a college student getting your
first credit card, or someone looking to switch, choosing the
company and type is very important. These few tips should help
make your decision easier.

1. Pay attention to interest rates. In truth, all credit card
interest rates are ridiculous. However, it is always a good
idea to choose the best interest rate for your needs. If you
think you may have the potential to miss a payment or two, then
a lower interest rate will suit your needs better than a higher
interest rates. If you are completely confident in your ability
to pay credit card debts off immediately, than interest rates
should not be a problem. Always look for the median interest
rate. Credit card companies offering extremely low interest
rates may have other hidden charges. Extremely high interest
rates are simply nonsensical.

2. The type of credit card must also be taken into account.
Different credit card types have different offers. Major cards
like American Express, Visa, Master Card, and Discover all have
their positive and negative elements. Along with the type comes
the credit card plan. Some credit cards are designed for
college students, and have special bonuses for grades. Other
credit cards offer reward points for shopping at a certain
store. Always go for the credit card promotion that fits you
best. If you eat frequently at a certain restaurant, then maybe
a credit card offering reward points for that restaurant is a
good idea.

3. Keep in mind the bank associated with the credit card, and
the credit card company’s policies on security. Identity theft
is a large issue and continues to increase. Be sure that your
bank has specific security plans to keep your personal
information safe. In the event of credit card fraud, it is
always good to have a company with great identity theft
policies. Some credit card companies will work tirelessly to
correct the identity theft problem and clear your name. Other
companies may not be so eager to give up their time and money
to protect your credit status.

4. Lastly, keep in mind some tricks credit card carriers may
employ. Some banks will attempt to destabilize someone with
good credit by sending their bills at different times. Other
credit card companies will offer great rewards, but have hidden
fees and high interest rates. It is always good to see a
company’s policy on late payment. Some companies will take
advantage of a late payment by raising interest rates
drastically and severely injuring your credit. Never be afraid
to read the fine print of any credit card agreement, because
you might find something that you don’t agree with.

Getting a new credit card can be scary. Credit is a big deal
because it dictates what you are able to borrow and do
financially. However, with careful planning and
decision-making, you will surely get a credit card that is
worth having.

About the Author: John Daley is very interested in financial
topics and gives advice on credit cards. Learn more at
http://www.creditcardlowdown.com .

Source: http://www.isnare.com

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Credit Card Interest Charges - How They Are Determined
By Joseph Kenny

‘He who pays wrong, pays twice’ is a famous saying amongst lawyers. Relating this to credit cards drives home its meaning even more. After your card-swiping shopping spree, it is payback time for all credit card users. However, if the rates are not calculated properly, one may end up paying the wrong amount.

Before getting into any calculations, did you know there is a difference, or rather a similarity, between the interest charge and the interest rate? The interest charge would be based on the percentage of the balance, or in other words, the interest rate.

If that is confusing, let us use a small example to clarify this. Suppose you have a balance of $1000, if you multiply it with an interest rate of about 18 %, it would result in a total interest charge of $180 for the whole year. Since the balance varies from time to time, your interest charge will not be constant

There are several ways credit card interest charges are determined. Credit card companies should state the method of calculating your interest in the terms and conditions furnished. Even if it is an insignificant variation, the methods do make a difference to credit card users.

How to Determine Credit Card Interest Charge

The annual percentage is the primary key to comparing credit products. Since the interest is computed on a monthly basis, to calculate the credit card charges, the annual percentage rate needs to be decompounded.

The methods to calculate credit card charges differ in different countries. The following are the methods listed according to the USA Regulation:

Adjusted Balance

To get the interest charge, the balance at the end of the billing cycle is multiplied by a factor. One could either get a lower or higher interest rate, as the time value given by the bank is not taken into consideration.

Average Daily Balances

Here, the sum of the daily outstanding balance is divided by the number of days included in the cycle to give the balance for that particular period. The amount is multiplied by a constant factor to the interest charge. Both the resultant interests are the same as the interest rate charged at the close of each day. Considered the simplest of the four methods, this method produces an interest charge very close to the expected one.

Two cycle average daily balance

As its name suggests, two billing cycles are taken into consideration and added to get the balance: the first being the current billing cycle, and the second the preceding billing cycle.

Breaking it up into two more sub-groups, it can be split into balance including new purchases and that excluding new purchases. The former group being a double-whammy for the regular credit card users, because the customer pays for the given activity twice, as the method considers the previous and current months’ average daily balances. On the other hand, the second group is not suggested to those who do not pay their balances in full each month.

Previous Balance

This method favors the credit card company the most, as they base your monthly interest charge on the balance of the beginning or ending of the month. Similar to Adjusted Balance, this method could consequently result in a higher or lower interest rate than the one estimated. However, the part of the balance that is carried for more than two full cycles is charged at the rate expected.

Furthermore, be mindful that if there are multiple unrecognized charges on the bill, someone may have been accessing your number without your consent. This could prove risky in not only in calculating your interest charge, but will also burn a hole in your pocket.

Joe Kenny writes for CardGuide.co.uk, offering UK credit card comparison, visit them today for more best UK credit cards.
Visit today: http://www.cardguide.co.uk/

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Leading Credit Card Providers
By Jin Kim

There are hundreds of banks and financial organizations providing credit cards in the United States. American Express Co., Discover Financial Services, Citibank of America, Chase Bank and HSBC Bank are some of the prominent players in the business.

American Express Co., operating in over 130 countries around the globe, offers a number of credit cards to meet the different needs of various customers including common man, businessman and students. Some of the American Express credit cards currently available are: Blue from American Express, Blue Cash, Blue for Students, Blue Sky from American Express, Optima Platinum Card, Clear from American Express. The company also provides city-based credit cards like New York City Card, Chicago Card and Los Angeles Card. You can avail several benefits with these cards.

Blue from American Express has no annual fee and a competitive 0% APR for the first 15 months. It provides a grace period or free period up to 20 days. You can also apply for additional cards and you do not have to pay any fee. Besides, you can share all the benefits and services with the additional card holders. It is also suitable for balance transfer. It offers a low balance transfer fixed APR of 3.99% until you pay the balance in full. There are several other benefits you can get with this card.

Another big player in credit card market, Chase Bank offers a number of credit cards under different categories. It provides general purpose credit cards, rebate credit cards, retail cards, student cards, entertainment cards, travel cards, military cards, sports cards and business cards. Under general purpose cards, it has Chase Flexible Rewards Visa Cards, Chase Free Cash Rewards, Chase Platinum Master Card, Chase Platinum Visa Card, Chase Perfect Card and Chase Travel Plus. There are cash back offers, discounts in purchases with these cards.

With Chase Flexible Rewards Visa Cards, you can get incentives with every dollar you spend. You will get 1 point for every $1 you spend and when you collect 2,500 points you can redeem for your choice of travel, cash, and merchandise or gift certificates/gift cards. You do not have to pay any annual fee for this card. It charges 0% fixed APR for up to 12 months and after that you will be charged a variable APR of 13.99%.

Discover Financial Services, a business unit of Morgan Stanley, provides Discover credit cards. Under this card brand, you can avail Discover Classic Card, Discover Gold Card, Discover Platinum Card, Miles Card from Discover Card and an array of affinity cards. It has also special cards like Discover student cards and Discover credit cards.

With the Discover Platinum card, you will get cash reward with every purchase. It provides 5% cash back on purchases made at some select products and up to 1% cash back on all other purchases. Its APR is 0% for purchases until the last day of the billing period ending August 2007. Thereafter you will be charge the standard APR, an estimated rate between 11.24% and 18.24%. It offers 0% APR for balance transfers till the last day of the billing period. After that the standard APR for purchases is charged. In case of default, the APR will be between 16.24% and 28.99%. For cash advances, it charges 21.99% for Discover Gold Card, 20.99% for Discover Platinum Card, and 22.99% for Discover Classic Card.

Bank of America, one of the world's leading financial service companies for individuals, small businesses, commercial, corporate and institutional clients, offers credit cards for different categories of people beside the standard credit cards. It has a wide variety of low APR, 0% intro APR, airline mile and reward credit cards. There are other credit card providers like Capital One, MBNA Corporation, First USA Bank, Providian JCB International Credit Card Co., Juniper Bank, Cetelem, Orchard Bank, AirPlus International, Direct Merchants Bank, USA Paycard, RBC Royal Bank, First Premier Bank, etc.

CreditMe.com is a free online credit cards review and application website. We offer credit cards selection from visa, master cards, bank of America, orchard bank, discover, American express, citicards, visa credit cards, and many others. We have quite some categories and hundreds of credit cards selection to fit your need. Compare credit cards at CreditMe.com now.

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How to Maximize Your Credit Card Rewards
By Joseph Kenny

Been sucked in to the lure of a “rewards” credit card only to get burned in the end by high interest rates and a less than stellar return when it came time to cash in those points? You’re not alone.

For credit card companies, acquiring customers is big business, and most cards today offer some kind of incentive for running up the charges on your plastic. If you’re not careful, and use your card at will just to collect a few measly points, you could get stung. But by following a few simple rules, you can turn the tables on the credit cards companies and use that “rewards” card to your advantage.

What to choose?

Most likely, your mailbox is full of pre-approved offers for new and exciting credit cards. In fact, in 2005 over 6 billion unsolicited credit card applications were mailed. The average person received approximately 72 offers. If you’re in the market for a new card, it’s important to weigh your options carefully. Most credit cards today offer some kind of rewards, but which one is right for you?

Take a look at your lifestyle and spending habits. Would you benefit from a points-based rewards card, an air mileage card, or one that offers cash back on purchases? Points-based cards usually give you one point for every dollar charged. When you accumulate enough, the credit card company will usually have a shopping portal set up, where you can redeem your points on a variety of products (e.g., electronics, gas cards, travel, etc.).

Problem is, most items in the catalogue are ludicrously overpriced, though it’s better than nothing. Air mileage cards offer great benefits to the frequent flier, but in today’s airline industry, who’s to say how much fees will be raised by the time you’re ready to redeem? With cash back cards, there’s most likely a set amount you’ll need to charge annually before you reap any benefits, so make sure you read the fine print before you sign up.

Take Advantage

Quite simply, offering incentive-laden cards are a way for credit card companies to get you to sign up. Rarely are the rewards worth the interest rates you’ll pay if you carry a monthly balance. But therein lies the rub—pay off your credit card every month and put those rewards to work. Here’s how: Charge as much as you can on your rewards card. We know, it goes against everything you were ever taught about using a credit card. Let us explain.

If your collectors allow it, charge every bill you have to your credit card instead of using a debit card or writing a check. Then, pay that balance off immediately to avoid incurring an interest fee. You’ll collect big rewards points fast, and it’ll be just like paying cash. Be disciplined about it though, even one month of letting those charges sit on your card can be a killer when the fee kicks in.

Another idea: instead of having separate credit card accounts for you and your spouse, ask for an increase in your credit limit and a companion card for one account. The more you both swipe the plastic, the quicker you’ll accumulate rewards points.

Off the beaten path

As rewards cards have become more prevalent, credit card companies have come up with new incentives to make their cards more desirable to consumers. Many cards have a system that provides extra rewards points to customers who shop with certain vendors. Some will even offer coupons where you can save big shopping with certain companies while still earning extra points. It might take a little more effort, but it will certainly rack up the rewards points at a vigorous pace.

Joe Kenny writes for the Card Guide, a UK based credit card comparison site, visit today for some balance transfers and clear your credit card debt today.

Visit today: http://www.cardguide.co.uk/

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Credit Card Debts And How To Cope With Them
By Joseph Kenny

Credit cards may be convenient since it gives you the luxury to spend more than what you can actually afford, but they can also land you in serious financial problems if not used properly. The use of credit cards in America is increasing by the day, and unfortunately, many are struggling with debt caused due to over spending. As a responsible credit card user you must try to lead a financially sound life, and you can begin by getting rid of your credit card debts.

Never overextend the use of your credit card, as that will land you in a debt with high interest. Getting into credit card debt is very easy, but it may be very difficult to come out of it. Therefore, it is better to be cautious from the beginning, rather than finding yourself in a financial quandary.

Stop overspending

It is never too late to pull yourself out of the debt you are buried in it. The most important step is to curb your temptation to overspend. Try to limit your expenses as far as possible by keeping one or two credit cards at the most. More cards will mean more balance to pay off. This will quickly put you in a cycle of debt.

Do not use your credit card to buy a lifestyle that is unaffordable for you; instead, use cash to make your purchases. If you want to buy something that you cannot afford, then you need to save money until you collect the required amount.

In case of an emergency, you will have to use your credit card, of course, but make a strategy for payment of the balance before using the credit card. To do this, you need to make a budget and see that you use your credit card according to the budget. If you find your expenditure going out of budget, then it is advisable to stop using the credit card.

Cover your balance

Making minimum payments for your credit card bills each month may seem to be convenient, but the truth is that you are pulling yourself into a never-ending debt trap. When you use your credit card try and make full payment for the balance that is created, keeping a check on its use until you actually pay off the balance. So pay the whole amount and that too on time in order to avoid late fees. If you maintain a good credit record you may even get certain considerations from your card issuer.

Avoid special services: As a credit card holder you may get tempted to get hold of various special services like travel clubs and life insurance offered by your credit card company, but be advised not to get into this trap, because even though they may seem alluring they are just added expense for you and add to your debt-burden.

Never use your credit card to pay your loan or advance, because if you are unable to pay off the balance, it will become a high interest loan for you. So you should use your ATM card or go to the bank.

In order to make the most of your credit card you must learn to use it wisely. Remember that staying out of debt is not difficult. All you need to do is to keep a check on how and when you use your credit card.

Joe Kenny writes for the Card Guide, a UK credit card site, visit today for a 0% balance transfer credit cards and start clearing credit card debt today.

Visit today: http://www.cardguide.co.uk/

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Airmiles Credit Cards - Just Another Reward Scheme?
By Joseph Kenny

There are many incentives for taking out a new credit card. Long term low interest rates are attractive. So too are 0% balance transfer and purchase rates, but these only last a short time. However, there are other rewards that last for the life of the credit card and that are attractive to most credit card purchasers. One of these is the air miles scheme.

What Are Air Miles?

The Air Miles scheme is a loyalty scheme that allows customers to collect points for everyday purchases from a number of high street and online retailers. Points can also be collected on travel, hotel bookings, currency exchange and travel insurance. Air Miles can be spent on travel to different destinations. Different points totals are needed for different destinations, depending on the distance from the starting point, the time of year and what deals are available. For example, going to Paris requires about 400 air miles, while travelling to Sydney requires about 4,000.

How Can I Earn Air Miles With My Credit Card?

Earning air miles with a credit card is very simple. First of all, sign up for a credit card that offers air miles as a reward. There are several of these offered by different credit card companies. Credit card companies that offer air miles credit cards include Nat West, Royal Bank of Scotland, Cooperative Bank, Morgan Stanley and American Express. Some credit card companies offer their own air miles schemes, such as the one done in conjunction with British Airways.

Some credit card companies require you to sign up separately with the air miles scheme. The advantage of this is that you can earn air miles with other retailers even if you are using a different credit card. Once you've signed up, all you have to do is spend as usual to earn air miles.

Additional Travel Rewards

Many of the credit card companies that offer air miles also offer other travel related rewards. These include travel insurance and other rewards to be applied to travel. Some companies do not offer an air miles scheme, but offer an equivalent travel points scheme. This works on a similar basis to the air miles scheme.

Are There Other Incentives For My Air Miles Credit Card?

Since many air miles credit cards are issued by banks that issue other credit cards, the same advantages may apply to new card holders. Some air miles cards offer 0% on balance transfers and purchases for up to nine months. Others offer a low rate of interest on transferred balances for the life of the balance transfer. These offers will appeal to people who want to earn travel incentives and clear debt at the same time.

It's worth paying attention to the interest rate on the credit card. Some credit cards offer competitive interest rates which will appeal to most credit card users. However, others have high interest rates and some have balance transfer fees. Balance transfer fees are fees charged by credit card companies when people transfer balances to take advantage of preferential rates. The balance transfer fee makes credit card jumping less attractive and helps credit card companies to make some of the interest they would otherwise have lost. There are still credit cards without a balance transfer fee, so it's worth shopping around for these.

Joe Kenny writes for CardGuide.co.uk, with the latest 0% balance transfers, and more credit info in the credit card guide.

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