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Article : Card Sharks
2008-03-03 00:21:00
by Liz Moyer with Tatyana ShumskyThursday, February 21, 2008Bank of America told thousands of its cardholders in recent weeks--even those with good payment histories--that they faced a rate hike from 9% to as high as 28% if they didn't pay off their balances at the old rate and stop using their cards. The bank, the largest credit card issuer, since its 2006 acquisition of MBNA, says it's all part of its "periodic" review of customer credit risk. ...read all...
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News : Discover Lobbied on Credit Card Fees
2008-03-03 00:19:00
Thursday February 21, 7:38 pm ET Discover Financial Spent $400,000 in 2007 Lobbying on Bills Regulating Credit Card Industry WASHINGTON (AP) -- Discover Financial Services, which issues the Discover brand credit card, spent $400,000 in the second half of 2007 lobbying on bills that would regulate cardholder fees....read all...
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News
2008-03-03 00:18:00
Credit Cards News Sainsbury's extends 0% rate on balance transfers Sainsbury's Finance has increased the interest-free period on balance transfers from 10 to 12 months on its credit card - effective immediately. Cutting down on the cards despite festive overspend The average credit card balance in January 2008 jumped 17% in one month to £2,168, based on monthly average balance transfers sought by consumers using Moneyextras credit card tools. Brits set to tighten spending belts Two thirds of UK adults - that's more than 30 million people - are planning to tighten their belt financially this year because of the credit crunch, according to research from Friends Provident. Balance transfers - Not as good as they were? The market for transferring your debt from one credit card provider to another - better known as a balance transfer - has undergone significant change over the past few years. OFT publishes credit card comparisons report The OFT (Office of ...

News
2008-03-03 00:12:00
Visa IPO Could Be Biggest EverFebruary 25, 2008, By Justin McHenry Citi Becomes Exclusive Credit Card Partner to Concert Promoter Live NationFebruary 14th, 2008By Justin McHenry Average Credit Card Rate Goes Below 14%January 24th, 2008
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News : A Credit Card You Want to Toss
2008-02-12 23:34:00
February 7, 2008 Business Week'Bank of America abruptly notified cardholders in good standing their rates would skyrocket if they didn't opt out fast. Is BofA greedy or needy?' ... read all ..
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News : Our view on credit practices: Card issuers invest in D.C.
2008-02-12 23:29:00
Fri Feb 8 Yahoo News ' The economy's sinking. Maxed-out consumers are struggling to pay bills. And credit card issuers They're busy trying to wring more money out of their customers.Bank of America , for example, is raising rates on some cardholders, even responsible ones who typically pay their bills on time, USA TODAY's Kathy Chu reported Thursday. Other issuers have shortened grace periods or hiked already record-high fees.' .. read all ..
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News : Average Credit Card Rate Goes Below 14%
2008-02-12 23:28:00
January 24th, 2008'Federal interest rate cuts continue to bring down average credit card rates, with the average interest rate for non-reward credit cards dipping below 14% this week, according to our IndexCredit Card s.com Credit Card Monitor. Averages in this report do not even take into account the surprise 0.75% cut in Federal interest rates announced this week. We expect average credit card rates to drop another half-percent in the next two months or so, in response to the Fed’s latest big move. (About 70% of credit cards have variable rates that rise and fall in step with Federal interest rates.)'... read all ...
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Forum : Is it bad to sign up for credit cards just to get rewards points?
2008-01-04 13:58:00
11-15-2007(11 posts)First comment from this forum : "I sign up for 5-10 credit cards a year solely based on the fact that they'll give me $50-$100 in rewards points for using it once. I pay my balance in full every month. Is it hurting my credit to have all these open accounts? I only use one card at a time and that's whichever card gives me the best rewards."see this forum at : http://www.thecreditcardforums.com/f16/23 35-bad-sign-up-credit-cards-just-get-rewa rds-points.html
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Forum : Credit card help please?
2008-01-04 13:55:00
12-28-2007(6 posts)First comment from this forum : "I need to re-insure my car and i'm going to pay it ouright as it's considerably cheaper then monthy payment to the insurers. The thing is I have no money after christmas and i'm going to need to get a credit card. I have looked into it and I think I need 0% purchases.It's pretty confusing to be honest so can someone tell me if i take out £800 on credit (0% purchases) apart from the balance transfer fee, will I have to pay anything else?Does 0% purchases mean I will have to pay no interest on thing I buy with the card?Any help would be appreciated, Cheers"see this forum at : http://www.thecreditcardforums.com/f5/298 7-credit-card-help-please.html
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Forum : Be careful online with credit cards
2007-12-24 16:18:00
25/11/2007 (>11 posts)First comment from this forum : "Always use credit cards only at secured payment sites."see this forum at : http://forum.creditorweb.com/applying-cre dit-cards/851-careful-online-credit-cards .html
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Forum : Any 5% Rewards Cards Still Left?
2007-12-12 00:30:00
First comment from this forum : 11-06-2006 (21 posts)"Now that my Citi Rewards cards dropped my rewards from 5% to 2%, I am in the market for a new card. Are there any credit cards out there that still offer 5% back on Gas and Groceries?I have looked around and it seems as no one has these types of cards available anymore."see this forum at : http://forum.creditorweb.com/credit-card- rewards/13-any-5-rewards-cards-still-left .html
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Forum : The best reward you've got from your card?
2007-12-12 00:21:00
First comment from this forum :11-07-2006 (26 posts)"I've got 17" LCD Monitor for free.What about you? "see this forum at : http://forum.creditorweb.com/credit-card- rewards/27-best-reward-youve-got-your-car d.html
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Forum : Virtual Credit Card
2007-12-06 00:02:00
First comment from this forum :03-20-2007 (15 posts)"I have seen that many people are using VCC for various purposes like online shopping and verifying their ebay or paypal.I want to know is it legal to use VCC?"see this forum at : http://forum.creditorweb.com/understandin g-credit-cards/336-virtual-credit-card.ht ml
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Forum : Cash Advances
2007-12-05 23:58:00
First comment from this forum :11-06-2006 (20 posts)"I am going to need to get some cash advances from my Citi Master Card and was wondering how bad they will hit me with fees? Does anyone know what is a good fee rate for cash advances?Is there a better card to use for this? I have an American Express Blue card and a Discover card as well."see this forum at : http://forum.creditorweb.com/understandin g-credit-cards/12-cash-advances.html
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Below are the most searched keywords,about 'credit cards',in the internet (
2007-11-25 16:25:00
Search Word 968245 apply card credit 797914 card credit 186775 apply card credit online 136187 business card credit 127868 application card credit 114184 card credit offer 78345 card chase credit 65624 online credit card application 63533 card credit debt 63521 card credit processing 57411 card consolidation credit 56984 0 apr card credit 51228 bad card credit credit 50247 apr card credit low 42990 best card credit 39211 card consolidation credit debt 39198 card credit reward travel 34544 card credit interest low 34044 card company credit 32046 card credit student 30732 card credit deal 26533 card credit secured 24700 airline card credit milesource : http://www.zirve100.net/incele.php
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Forum : How Many People here Get Instantly approved?
2007-11-17 12:19:00
First comment from this forum :"I was just wondering, how many of you get approved instantly when applying for credit online?. Most of the time when I apply they will say " we will let you know by mail" but still get approved when the letter comes. Is there some type of system they have for instant approval?. I was just wondering because I find that weird that I never get an instant approval. "see this forum at : http://www.webgroups.biz/creditcardperks/ phpBB2/viewtopic.php?t=7601&sid=3800f 9d521ac568afec4bd071f953703
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Forum : What is your credit limit on all cards and overall history?
2007-11-10 22:10:00
First comment from this forum :"THIS IS FOR EVERYONE SUBMITTHIS IS MINEAMEX BLUE SKY$23,000FIA BANK OF AMERICA ALASKA AIR PLATINUM$7,000FIA BANK OF AMERICA AMEX$7,000DISCOVER CARD PLATINUM$5,000FIA SUNTRUST BANK$2,000SEARS$1,200WALLMART$375CAPITALO NE $500KEY BANK $5002 YEAR 6 MONTHS tot credit ([color=blue:0c6d391955]$46,575[/color:0c 6d391955])"see this forum at : http://creditcardperks.webgroups.biz/phpB B2/viewtopic.php?t=10516&sid=2e154488 53f5413a43eb8ad017018a16
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Forum : False entry on credit report
2007-11-06 20:33:00
First comment from this forum :"What is the name of your state? MississippiI obtained a copy of my credit report and there is an entry from a mortgage company that isn't mine at all. What process would I go through in order to notify the creditor or credit bureau that this item was not opened by me?"see this forum at : http://forum.freeadvice.com/showthread.ph p?t=381683
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Forum : Stay away from MBNA
2007-11-06 20:28:00
First comment from this forum :posted:11-06-2006"Stay far away from anything that MBNA has to offer! I got a Visa card from them with a low 2.99% introductory offer for six months. After that, it went up to 10.9% fixed rate. Everything's cool. About six months from that I receive a letter from them saying that they were going to increase my interest rate because they looked at my credit report and said I had too much credit. They raised it to 14.9%. A year went by, and I received another letter stating they were going to change my Visa card to a variable rate because they looked at my credit report again. It is now at 20.9% interest! My service charges are almost as much as my minimum payment! And to top it all off, I have never paid any of my bills late, and I have always paid more than the minimum payment! On all of my bills! I have great credit! I am in the process of paying off their %$^&*@# card, and then leaving them in the dust. But I'm going to make sure the world kno...
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Forum : How To Apply For Business Card Credit Online
2007-11-02 00:43:00
First comment from this forum :"Applying for a business credit card online has now been made easier thanks to the Internet. Gone are the days when a person has to personally go to the offices or agents of credit card companies to apply for their business credit cards and waste precious time and wait for their turn to be entertained.Business credit cards are a boon to shoppers in general particularly to those who are too busy to scout for goods and services in different locations in their area. Possession of a credit card means more shopping convenient and security because one no longer has to carry cash in his possession.Well everyone must admit that times are hard and criminals are just waiting around the corner waiting for the right timing and the right person stupid enough to carry a huge amount of cash to purchase commodities they need for their households and for businesses."see this forum at : http://forum.creditorweb.com/applying-cre dit-cards/450-how-apply-business-card-cre di...
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News : Credit card database hacked
2007-10-26 00:20:00
Last Updated: Tuesday, 18 February, 2003, 19:30 GMT A computer hacker has gained access to more than 5 million Visa and Mastercard credit card accounts in the US. The two companies said on Tuesday that none of the information obtained, which would include credit card numbers, was used in a fraudulent way. But a UK-based business crime expert warned account holders could still be at risk if their cards were not reissued. Visa and Mastercard said the hacker breached the security system of a company that processes credit card transactions on behalf of merchants. Numbers of credit cards can be used to make payments, such as buying plane tickets or hiring cars. Both Visa and Mastercard operate zero liability policies, which protect card holders from having to pay for any unauthorised or fraudulent charges. Card holders at risk? Peter Lilley, a fellow of the UK Chartered Institute of Banking and author of various books on hacking and business crime, said some hacker...
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News : 11 ways for seniors to mop up credit card debt
2007-10-26 00:16:00
11 ways for seniors to get out of credit card debt By John Egan Before she sought help from the nonprofit Consolidated Credit Counseling Services Inc. about three years ago, Joyce Roberts' credit card debt had swelled to between $10,000 and $15,000. This Massachusetts baby boomer had essentially gone bust.Now Roberts, 51, pays $270 a month through Consolidated Credit Counseling in hopes of erasing her credit card debt within the next year. She no longer has any credit cards -- just an ATM card. Roberts says the debt mounted because she'd been making only the minimum monthly payments on her credit card bills -- something she advises others not to do."I was always a day late and a dollar short," Roberts says. "I've never gotten really close to being financially secure."Once the debt is eliminated, Roberts plans to quit her part-time weekend gig at McDonald's but maintain her full-time job as a customer service representative at an optical supply company. Wo...
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Credit card
2007-10-26 00:12:00
A credit card charged. Most credit cards are the same shape and size, as specified by the is a system of payment named after the small plastic card issued to users of the system. A credit card is different from a debit card in that it does not remove money from the user's account after every transaction. In the case of credit cards, the issuer lends money to the consumer (or the user). It is also different from a charge card (though this name is sometimes used by the public to describe credit cards), which requires the balance to be paid in full each month. In contrast, a credit card allows the consumer to 'revolve' their balance, at the cost of having interestISO 7810 standard.source : wikipedia,the free encyclopedia
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How credit cards work
2007-10-26 00:11:00
A user is issued credit after an account has been approved by the credit provider, and is given a credit card, with which the user will be able to make purchases from merchants accepting that credit card up to a pre-established credit limit. Often a general bank issues the credit, but sometimes a captive bank created to issue a particular brand of credit card, such as Chase, Wells Fargo or Bank of America issues the credit. When a purchase is made, the credit card user agrees to pay the card issuer. The cardholder indicates their consent to pay, by signing a receipt with a record of the card details and indicating the amount to be paid or by entering a Personal identification number (PIN). Also, many merchants now accept verbal authorizations via telephone and electronic authorization using the Internet, known as a Card not present (CNP) transaction. Electronic verification systems allow merchants to verify that the card is valid and the credit card customer has sufficient credit to...
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Secured credit cards
2007-10-26 00:10:00
A secured credit card is a type of credit card secured by a deposit account owned by the cardholder. Typically, the cardholder must deposit between 100% and 200% of the total amount of credit desired. Thus if the cardholder puts down $1000, he or she will be given credit in the range of $500–$1000. In some cases, credit card issuers will offer incentives even on their secured card portfolios. In these cases, the deposit required may be significantly less than the required credit limit, and can be as low as 10% of the desired credit limit. This deposit is held in a special savings account. Credit card issuers offer this as they have noticed that delinquencies were notably reduced when the customer perceives he has something to lose if he doesn't repay his balance. The cardholder of a secured credit card is still expected to make regular payments, as he or she would with a regular credit card, but should he or she default on a payment, the card issuer has the option of recovering t...
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Prepaid credit cards
2007-10-26 00:09:00
A prepaid credit card is not really a credit card, as no credit is offered by the card issuer: the card-holder spends money which has been "stored" via a prior deposit by the card-holder or someone else, such as a parent or employer. However, it carries a credit-card brand (Visa or MasterCard) and can be used in similar ways. As more consumers require a suitable solution to rebuilding credit, recent changes have allowed some credit card companies to offer pre-paid credit cards to help rebuild credit. They are hard to find and have higher APR fees and higher interest costs. After purchasing the card, the cardholder loads it with any amount of money and then uses the card to spend the money. Prep aid cards can be issued to minors since there is no credit line involved. The main advantage over secured credit cards is that you are not required to come up with $500 or more to open an account. Also most secured credit cards still charge you interest even though you are not actually "borrow...
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Features
2007-10-26 00:06:00
As well as convenient, accessible credit, credit cards offer consumers an easy way to track expenses, which is necessary for both monitoring personal expenditures and the tracking of work-related expenses for taxation and reimbursement purposes. Credit cards are accepted worldwide, and are available with a large variety of credit limits, repayment arrangement, and other perks (such as rewards schemes in which points earned by purchasing goods with the card can be redeemed for further goods and services or credit card cashback). Some countries, such as the United States, the United Kingdom, and France, limit the amount for which a consumer can be held liable due to fraudulent transactions as a result of a consumer's credit card being lost or stolen.source : Wikipedia,the free encyclopedia
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Security
2007-10-26 00:03:00
The low security of the credit card system presents countless opportunities for fraud. This opportunity has created a huge black market in stolen credit card numbers, which are generally used quickly before the cards are reported stolen. The goal of the credit card companies is not to eliminate fraud, but to "reduce it to manageable levels"[8], such that the total cost of both fraud and fraud prevention is minimized[citation needed]. This implies that high-cost low-return fraud prevention measures will not be used if their cost exceeds the potential gains from fraud reduction. Most internet fraud is done through the use of stolen credit card information which is obtained in many ways, the simplest being copying information from retailers, either online or offline. Despite efforts to improve security for remote purchases using credit cards, systems with security holes are usually the result of poor implementations of card acquisition by merchants. For example, a website that uses SSL...
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History
2007-10-25 23:59:00
The credit card was the successor of a variety of merchant credit schemes. It was first used in the 1920s, in the United States, specifically to sell fuel to a growing number of automobile owners. In 1938 several companies started to accept each other's cards. The concept of using a card for purchases was invented in 1887 by Edward Bellamy[citation needed] and described in his utopian novel Looking Backward. Bellamy uses the explicit term "Credit Card" eleven times in his novel (Chapters 9, 10, 11, 13, 25 and 26) and 3 times (Chapters 4, 8 and 19) in its sequel, Equality. The concept of paying merchants using a card was invented in 1950 by Ralph Schneider and Frank X. McNamara in order to consolidate multiple cards. The Diners Club, which was created partially through a merger with Dine and Sign, produced the first "general purpose" charge card, which is similar but required the entire bill to be paid with each statement; it was followed shortly thereafter by American Express and C...
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Trailing interest
2007-10-25 23:58:00
When the balance on account is not paid off in full by a due date it earns interest. If you then pay off the balance the next month it will also have an interest charge. If, for example, you charge $1000.00, receive the bill, and then decide to pay $500.00 by the due date, the next month's bill comes with a balance of $500.00 and the interest for the first month. If you pay the balance on the statement, the next month you will receive a bill with an interest charge for the balance on the account. A credit card balance accrues interest until the day it is paid. One way to avoid this problem if you are carrying a balance on your credit card and wish to pay it off, is to call your bank and ask for the payoff figure. You can generally speak to someone in customer service to get this number. Do not depend upon the voice system.source : Wikipedia,the free encyclopedia
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