Thursday, June 19, 2008

Fraud - Would You Credit It?

Findings from a recent survey by APACS show that the amount of overseas fraud exploiting United Kingdom debit entry and credit cards have hit a five-year low. However with Idaho fraud as one of the UK's fastest-growing crimes, this should not be a cause for credit card protection complacency.

The figs demo credit card fraud overseas £92.5m in 2004, which is the lowest figure since 1999, and following a £138.4m extremum in 2001. This downward tendency was largely attributed to improved fraud sensing systems which enable card companies to descry unusual disbursement patterns associated with the fraudulent usage of cards, rather than the recent introduction of bit and pin cards.

Sandra Quinn of APACS said "Simple things like making certain your cards never go forth your sight, and remembering to dispose of gross carefully, can do all the difference." Holidaymakers need to take care when using their plastic abroad, especially in the US, French Republic and Spain, which account for nearly half of fraud against United Kingdom cards.

Foreign fraud on United Kingdom cards now accounts for 18% of entire United Kingdom card fraud, which reached just under £505 million in 2004.

APACS advised that holiday shapers should:

* Support valuables safe and out of sight, for illustration in a concealed money belt

* When driving, maintain pocketbooks and wallets out of sight of timeserving thieves, especially in slow-moving traffic and always take cards and valuables from parked cars

* When paying be wary of letting your card out of your sight

* When you go back home, check your statements carefully for any unfamiliar transactions

* Inform your bank in advance that you will be using your card abroad

* Carefully dispose of any gross or statements

* Don’t state anyone your PIN, even if they claim to be from the bank or police.

* If you have got got bit and pin cards do certain you memorise your pin numbers

* Brand certain you have the 24-hour phone number to call off your cards in lawsuit they are lost or stolen

Source: APACS ( )

This contrasts sharply with the rapid addition in Idaho fraud which was valued at an estimated £1.3bn last year. MyCallCredit warned that up to 10 million people could have got credit installations registered in their name which they were no longer keeping path of. This could seriously set them at hazard from Idaho fraud.

Which? magazine have got suggested that about 1 in 4 grownups in the United Kingdom have either had their identity stolen or cognize person who have fallen victim to Idaho fraud. Idaho thieves can run up credit card bills, as well as ordering further new cards, accessing the victim’s bank accounts, carrying out assorted other word forms of fraud in the victim’s name, such as as with authorities benefits, and taking out fraudulent loans.

In an attempt to reduce Idaho theft, Which? ( ) advised consumers to:

* not utilize their mother's maiden name or topographic point of birth as a security password

* check their credit record annually

* ensure the bank cognizes of any computer computer address changes

* scintilla or rip-up post before throwing it in the bin

* never utilize the same watchword for all accounts

* not carry address inside information in bags or wallets

* check bank accounts and credit transaction data files regularly

Further information on credit cards:

Regulations: Financial Services Authority

Credit card comparisons:

Payment Protection: Barclaycard

Sunday, June 15, 2008

What are Gold Credit Cards?

Gold credit cards are special privilege cards that are traditionally offered by credit card companies either to high earners or to their loyal customers who have a good credit history. Traditionally they are considered to be status symbol because they are associated with high annual income, which offer added services and benefits.

Gold credit cards are beneficial if you are a high spender seeking associated benefits such as free air miles, cash back, reward points etc. These credit cards give you the added advantage of high or no credit limit. Though generally the credit limit is quite high still it depends on your annual income and your credit rating. Companies will certainly not offer a gold card to people with a bad credit history or to those who have low income.

The credit card companies will generally offer a better service and many more benefits to these privileged customers. Additionally, they have lower interest rates as compared to that of standard credit cards. Generally, there are low or no annual fees on Gold credit cards. View your statements, pay your card balance and transfer balances. There is an online fraud guarantee, so you're not responsible for any unauthorized purchases.

Gold credit cards main features:

Payment protection plan protects in case of involuntary unemployment, accidental injury or sickness.
Card protection Plan protects your account in case of loss or theft of your card.
You can share it with family and friends. Thus avail a greater flexibility and convenience.
It provides complete travel insurance up to £250,000
A number of travel benefits.

A word of caution is necessary here. You will have to spend a lot to make it work for you. As with all credit, you will reap the benefits when you are able to afford the repayments, however, the moment you fail you may land yourself in a financial trouble. Missing your monthly payments would mean penalty fee and costs plus a dwindling credit rating, creating problems in future.

Friday, June 13, 2008

0% APR Credit Cards: How Can They Do That?

During the years when the federal bank interest rates were at its lowest, back in 2002 and 2003 to be specific, infinite credit card suppliers offered 0% APR credit cards to many consumers. Needing only to pay the outstanding balance, smart consumers were able to charge up to their bounds without incurring monthly interest charges. The inquiry that some people were asking when these cards were at their extremum of popularity was this: how do credit card suppliers make money off of this type of plan? Well, good question! Let’s analyze 0% APR credit cards and the manner they really work and if they are still available to you today. You just might be surprised at the answers!

Annual Fees. Depending on the credit card provider, some card holders have got been charged an annual fee for the privilege of having a 0% APR credit card. Annual fees for some of these cards generally run from $15 to $20, even higher.

Late Fees. You would believe that if clients had a 0% APR credit card that they would always pay them on time, right? Well, many make not. So, every clip a payment is received late credit card suppliers would measure a late fee. With fees ranging from $19 to $39, that tin add up especially if person is habitually late.

Default Rate. Oh, that 0% rate is nice on the surface. Read the “member’s agreement” and you will quickly learn that late payments will not only incur a fee, but a “default rate” would be charged bumping up the annual percentage rate to duplicate figure figs on existing balances as well as on new charges! If you are late you can say, “bye, bye” to your 0% APR credit card in no time.

Short Term Offer. 0% APR credit cards are still offered today. Almost always they are cards for new card holders that offer a 0% rate for a limited clip period of time, such as as twelve months, before a higher rate boots in, which usually is around 12%. Some cards will allow you to transfer existent credit card balances over to the new card and have the 0% rate on transferred balances. What a great manner to cut your costs and salvage money too!

Don’t concern about credit card suppliers having trouble making money even with low or 0% APR credit cards. Rates have got since increased, in some cases dramatically, making it more than hard to happen a low interest rate credit card. Still, great offers exist, but you must cognize where to happen them. Searching online for your 0% APR credit card is a great manner to quickly happen and compare all of the best offers available.

Copyright 2006 Erectile Dysfunction Vegliante. Free online reissues of this article are allowed provided the resource box stays integral with a unrecorded nexus back to

Wednesday, June 11, 2008

Credit Cards for People with Bad Credit

Credit cards for people with bad credit are a form of borrowing that often involves charges. So it's wise to compare terms and fees before you agree to open a credit or charge card account. Try looking for a credit card with a low APR. Find out the APR because this is the amount charged to you on monthly balances.

Are you overwhelmed with credit card offers and don’t know which one is right for you? Tired of looking for a credit card? Chances are you have received your share of credit card solicitations. Not sure which credit cards you should apply for? Shop around because not all credit cards for people with bad credit are created equal.

The following are some important things to consider that generally must be disclosed in credit card applications or with credit cards that require no application.
Annual Percentage Rate
Periodic Rate
Variable Rate and Grace period

The card issuer must disclose the "periodic rate" - the rate applied to your outstanding balance to figure the finance charge for each billing period. Some credit cards for people with bad credit 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.

By making on-time payments you could be on the road to repairing your bad credit.

Tuesday, June 10, 2008

How Many Credit Cards Should You Have?

So how many credit cards do you have in your wallet. Do yo have promises of better rates, lower fees, more airmiles or better perks causing your wallet to be full of cards and your mailbox full of better offers.

Most Americans carry five to ten cards while some have five times this amount. This is bound to cause havoc on your credit score, never mind being able to manage them.

So how many credit cards is enough. Whilst experts agree that there is no exact number it is more realistic to note how much you spend and more importantly how much you can pay off monthly. Credit agencies warn that the more cards you have, the bigger risk you have for debt and damaging your credit rating.

A good rule of thumb is to keep up to six and to make sure that they are the major ones, MasterCard, Visa, Discovery and American Express as they acceptable almost anywhere. It is most important to pay them regularly and on time to avoid any further charge and find a credit card with low interest rates. Credit cards that offer reward points, air miles or cash back give you something back and the interest rates on these cards doesn't have to be low if pay off the credit every month.

Beware of store credit cards. Each time you open a new store credit card 20 points are taken off your credit score. This is because they are issued to all and sundry, to people who can't otherwise obtain credit. Store cards are often opened, especially leading up to Christmas to get 12% to 15% of purchases but beware the interest rates are much higher. It's fine to obtain the discounts, pay off the balance and close the card. If your shop regularly at the same store then by all means open a credit card to obtain discounts, coupons, bonus points and other perks but just have the card from that one store.

Keep your debt ratio low, under 50% is good. If your credit card has a limit of $3000 don't carry a balance of more than half, $1500. If you want to make a large purchase then split it onto two cards. Creditors do not like to see a card almost up to its credit limit, they will look at you as somebody who is using too much credit, a greater risk who may have trouble paying off the debt. Idealy you should keep your balance low, less tha 30% on each card.

Make payments on time, one or two late payment can really bring down your credit score and increase the rates on your other cards. Remember you are the person responsible for payment.

Credit cards when used sensibly and carefully are great. They offer the user so much cosumer protection and they are so convenient. If you have credit cards then you have credit history. Obtain a copy of your credit report, check it for any inaccuracies and correct any problems. Then slowly, one per month, there is a reason for this, close unused accounts so as to have the recommended number. Keeping the oldest cards, especially if you never missed payments, makes sense as you then have a lengthy and successful credit history.

Having fewer credit cards makes it so much easier to manage them. It is easier to remember payment dates and so avoid late payments and the worry of late payment fees. Also as credit cards increase their minimum payments it will affect your monthly outlay just to meet the minimum payment. Just remember, it is you who is responsible to make your payments and keep on top of your credit.

Monday, June 09, 2008

The Hidden Influence of Credit on Mortgage Availability

Many people believe that having few, if any, credit cards and not having any debt is good for their credit…and they’re all wrong!

Credit scores make not better unless you have got credit accounts with some debt accumulated, with all of the required monthly payments paid on time. While it is true that you may not desire to pay interest on any debts you may have, it is far better for your overall credit to have got got some debt instead of no debt.

The best credit scores come up from consumers with constituted credit accounts, with a small part of the available credit line in use. Your credit report is updated monthly with payment information on these accounts. If you do all your required minimum monthly payments on time, your credit score will rise.

The shorter the amount of clip you’ve had accounts open, the larger the balances are on unfastened accounts and any late payments can compound to negatively impact your credit score. If your sum debt-to-income ratio is more than than one-third of your monthly income, you may not even measure up for a mortgage loan

Never having used any credit may ensue in a mortgage loan disqualification also, simply because there is no repayment information to alkali your creditworthiness on.

Your credit score will directly act upon the handiness of mortgage loans with acceptable rate. The near your credit score steals toward subprime territory, the more than interest and fees you’ll likely end up paying for your loan. The difference between a criterion mortgage and a subprime mortgage can do the difference in 100s of dollars a calendar month tacked onto a mortgage payment.

How you utilize your credit today will determine the mortgage chances that are present tomorrow. Use your credit wisely and the sky’s the limit. Use it poorly and mortgage chances will go through you by.

Sunday, June 08, 2008

Credit Card Company Tricks

Don’t allow them gull you. All those solicitations you have in the mail for credit card applications are meant to reel you in and hook you. Big time. In addition, new bankruptcy laws in the United States and higher monthly minimum payment demands are in topographic point to assist root defaults on loans and to coerce consumers to pay down debt quicker. All of this sounds great, but credit card companies desire to maintain you in debt as long as possible. Please read on for all the stimulating details.

If you have got got had problems in the past paying down debt, make not believe for a minute that you will have it any easier in the future. Thanks to statute law introduced by United States Congress and signed by the president earlier in 2005, filing for bankruptcy to get away debt have go more than difficult. Much more than so. In addition, credit card companies have got raised your monthly minimum payment levels, in some cases doubling the minimum amount you must pay. See this last measure a side issue related to the new bankruptcy legislation; the credit card companies are not legally obligated to raise minimums but they were pressured into doing so in exchange for passage of the new bankruptcy law.

Do not even believe for a minute that credit card companies desire you to get out of debt.

For starters, credit card rates have got been rising steadily for over two years. As the premier rate travels up, your credit card interest rate travels up. Unless, of course, you have got got a fixed rate and you have been paying your measures on time. However, 1 late payment and, uh oh, you are in large trouble.

If you are late making a payment, even just once, you will likely be hit with a one clip late fee charge of $29 or $39. In addition, that "sweet rate" you negotiated last twelvemonth may automatically disappear. Zero percent funding can quickly turn into an 18.9% interest rate in no clip and enforced retroactively too. Even “lower rate” cards with annual percentage rates of 10%, 12%, Oregon more, can suddenly reflect rates of 24.9%, 29%, 35%, Oregon even higher!

This is all perfectly legal too!

Read your credit card revelation understanding – as if anyone even fusses to make so – for all the deadening details. Exceptions and regulations are the name of the game; there is a trap laying broad unfastened for you to step on.

The adjacent country of socking it to you is an old one: annual fees. Yes, they are back; for years, credit card companies -- in order to stay competitory -- waived annual fees. Originally, it was one small manner for them to extract some cash from you: you paid them something every twelvemonth even if you paid off your card monthly.

If you are like me, the whole conception of charging person to access credit is absurd. Companies do a mint off of high interest rates as it is; throwing another fee on top of things is both apparent and transparent! Now, annual fees are back. Oh, sure, credit card companies must advise you in authorship of these changes before they are set in place, but they certainly trust you won’t call off your account in response to the "new" fee or that you will forget the notice completely and simply pay the fee. Bash they believe that we are stupid? I believe so!

There are two other countries where credit card companies attempt to draw a fast 1 on consumers: your payment owed day of the month and payment mailing address.

Your payment owed date, which may have got got been "static" for years, could suddenly have been moved up. This agency that if you are used to paying off your Visa card on the 24th of the month, it may suddenly have got been moved to the 16th the following month. Without notifying you of the change either!

The computer address where you direct your money may have got changed too. Are this a large deal? It certainly is if you get off your payments in. Let’s state that you dwell in New Jersey and your XYZ Bank card payment travels to a South Hackensack station office. If you get off your payment in five years before the owed date, you probably allowed enough clip for your payment to get to the bank. Warning: Watch out that their payment computer address hasn’t suddenly been moved to Ohio. Your adjacent payment will likely stop up being late.

Oh, so you pay online? Don’t believe that the bank credits your money immediately either. I have got seen it take five years for money to electronically go forth my checking account and be wired to another bank’s account. The station office moves a live check faster than that!

A moved payment owed day of the month and a changed payment computer address are designed to do your payments late so that the credit card company can charge you a late fee and raise your rates.

This is perfectly legal as well. Are it ethical? Hey, we’re talking about the financial services industry. What else do you expect?

Financial establishments make money off of consumers through interest rates and fee services. Please make not believe for a minute that any credit card company have your best interests at heart. They don’t; they are in business to delight their shareholders. Get informed and take action when one of these "perfectly legal" patterns is pulled on you. You can get fees canceled and have got your credit card rate lowered if you complain; back it all up in writing in order to continue your rights.

A savvy consumer is an informed consumer; learn what fast ones credit card companies utilize and fighting back. Annually order free credit reports from Experian, TransUnion, and Equifax to do certain that unfavourable reports from creditors have got not been unfairly tagged to your record. Visit the Federal Soldier Trade Commission’s land site at for the best manner to obtain credit reports.

Thursday, June 05, 2008

Ethical Finance: Who Benefits From Our Spending?

On one manus consumers are being universally criticised for running up important amounts of debt on credit cards, yet conversely many companies are capitalising on the growth credit card debt, from charities and political arrangements to football game clubs, the Association of Surgeons and somewhat ironically ActionAid, an international development agency whose purpose is to struggle poorness worldwide.

Financial comparison land site provided 226 credit cards in a general credit card search, from which the consumer could take a merchandise to lawsuit their lifestyle, as well as their wallet. Credit cards with charity branding affect many major arrangements including Amnesty International, Christian Aid, WaterAid, RSPB, Save The Children, the Ramblers Association, Oxfam, Greenpeace, the Vegetarian Society, RSPCA, ActionAid, Children In Crisis, Aid The Aged, Tearfund and the Publius Terentius Afer Higgins Trust.

Perhaps it is just to state that if people are going to pass on plastic, they should be helping charitable arrangements on the manner and should they experience inclined to lend to a political institution, donating a small % of each transaction is a convenient method. If most consumers were ethical spenders, then associations between transactions and 3rd political party donees would come into this quality, but as debt spirals out of control, is it responsible or ethical that person should profit at the cost of person else?

Although it is standard for most card suppliers to offer an introductory free period, the consumer may be hit by a more than significant annual percentage rate (APR) later on the year, with some providers, such as as ASDA charging a monolithic APR of 28.8%. Even ActionAid charges an APR of 17.9%, rescuing the development human race at the disbursal of the developed.

For additional information about credit cards and inside information on specific providers:

Wednesday, June 04, 2008

Protect Your Credit

Because identity theft and credit card fraud are among the fastest growth law-breakings in the U.S., there are respective stairway you should take immediately if your credit card goes lost or stolen, or if you happen measures in your mail that you make not acknowledge or charges you did not authorize.

The first measure you should take is to originate a fraud qui vive on all your credit card accounts. There is a common misconception that doing this volition forestall you from obtaining any additional credit cards or financing. This is simply untrue. What a fraud qui vive will make is necessitate creditors to reach you by telephone before any new accounts are opened in your name. It will also necessitate creditors to reach you by telephone before making any requested changes to any existent accounts, such as as increasing your line of credit.

To put a fraud qui vive on your accounts, reach any 1 of the three major credit bureaus:

Equifax: 1-800-525-6285

Experian: 1-888-EXPERIAN

TransUnion: 1-800-680-7289

The credit agency you contact will then contact the remaining two bureaus and all three will direct you a current transcript of your credit report, free of charge. When you have these reports, expression them over carefully. Note any accounts you didn't authorise or debts you don't recognize. Also check that all your personal information, such as as name, address, and Sociable Security number are correct. If any wrong or fraudulant information is found, contact the credit agency to have got it removed. Then go on to check your credit report on a regular footing to see no additional fradulant activity is found.

After initiating a fraud alert, you should then immediately fold any accounts you believe may have got been violated and submit an Idaho theft affidavit to the credit card companies in question. You should then register a police force force report with your local police section and also register a lawsuit with the Federal Soldier Trade Commission.

Identity theft is a federal discourtesy with stiff punishments for those who make bold to attempt it and are caught. Take stairway to protect your credit and forestall yourself from becoming a victim of this very serious crime.

Tuesday, June 03, 2008

The Wright Place - Finances

Women have got a love/hate human relationship with money. Most of us make not enjoy dealing with it, yet we cognize not having finances under control will cause our full household to suffer.

A recent invitee on the show Karenic Franks, explained how of import your credit is and how you should check on it often. ‘At least twice a year”, states Karenic Franks. Checking our credit is one of import proactive manner we can do certain we are in good financial shape. She also mentioned that many married women have got better credit score than their husbands, even if they do not make as much. When another show guest, Dan Contreras talked about financial planning, he stressed using a professional. ‘Don’t trust on hearsay, get some existent apprehension about your situation.” And Linda Netherlander the writer or Bags to Wealth states “Mentors are the fast path to success”. Find person who have reached the same financial ends you desire to attain and then make what they did. This simple technique plant even if your ends are modest. While everyone’s state of affairs is different, I really just desire to actuate you to make something to have got a positive consequence on your finances. Here are a few simple things you can make that volition start the ball rolling.

1. Get a transcript of your credit report and check it for errors( free if you have got been turned down for credit)

2. Look at your nest egg plan, are you on track, make you need to increase or lessening the amounts you are trying to save?

3. Look for your insurance policies, be able to get them immediately, cognize exactly where they are.

4. Start some financial instruction with your children. Start a student economy account.

5. Start planning next year’s financial goals. What make you desire to change, what ends make you desire to accomplish, what new accounts make you need to open up and which accounts should be closed.

If you manage your finances you’ll be in The Wright Place!