Dewey Kearney asked:
Everyone knows that a credit card is a necessity in our modern times. Have you ever tried to rent a car without one? I have and had to put a $250 deposit down, what a hassle – what if you don’t have the $250 to spare?
If you use a credit card properly they are a blessing, used incorrectly they are a curse. One thing that a lot of people don’t seem to have that gets them into trouble is common sense. This is not just a problem of the young; a lot of us “mature” people seem to be short on common sense also.
Our site http://www.1-800BadCredit.com has a link for credit cards and you will find every type. Lots of people get confused and think credit cards are all the same, they aren’t. That’s why we decided to write this article to show you what to watch for and to get a handle on your credit.
· Use your smarts and be cautious. If your credit is poor or even semi-poor and the only cards offered to you are with high interest rate don’t go crazy in charging. If used properly a credit card can bring your credit score up, used improperly can damage it. Pay your bills on time (that doesn’t mean mailing it on the due date). And if possible pay the entire bill off each month or at least a big portion of it.
· Understand how interest is configured on your card. A lot of people don’t care about this but they should. This is the reason banks give credit cards out; it’s not for your convenience, that’s the way they make money. So if your balance gets high enough where the your interest is $80 per month on the balance owed and the bank sets a minimum payment of $20 and that’s all you pay the next month you pay interest on the $80 interest from last months bill – see where this is going? It is a never-ending cycle and the banks love it!
· If you carry a large balance each month (we hope you don’t) consider a balance transfer to a lower interest card or better a 0% for a set period of time. Then during that time double or triple your payments to pay the balance down or better off completely.
· If you have a large balance and have no immediate opportunity to pay it completely off – be pro-active. If you don’t you are doing exactly what the credit card companies want. Consider taking out a consolidation loan to pay these cards off, and then get smart and don’t use them except for emergencies. If you have a poor credit score you may not get the best interest rate bit I’ll bet it is better than your credit card.
· If you have a large credit card balance but have money in the bank use that to pay your card off. This should be obvious but it isn’t to some people. A friend of mine confided to me that he was $20,000 in credit card debt. He was seeking my advice of what to do. After a few questions about his finances he admitted that he had about $40,000 in a bank CD. I asked him the rate the bank paid him and the rate was ridiculously low. My advice was the obvious, take the money and pay the credit card off. His reason for not doing that in the first place was how long it had taken him to save the money. Sounds silly, yet a lot of people think the same way.
· There are many types of cards available – not just credit cards.
1. If you have a hard time managing credit then use a debit card. That is tied into your bank account and if you don’t have the cash available you can’t make the purchase. If you are undisciplined in credit this is for you.
2. Secured credit cards secured by a deposit but will have a credit limit. With some banks a $250 deposit will only give you a credit limit of $125 to $150. Others the limit is the full deposit. Check the fine print.
3. Store charge cards. These are limited to just that store.
4. Credit cards that give you a certain percentage back.
5. Credit cards that give you other perks like frequent flyer miles. A friend of mine uses this type and charges everything BUT pays it totally off each month. He flies across the country twice a year to visit their sons but pays very little or nothing for his trips.
Whatever type of card you choose, be sensible how you use it. As long as you do this there is nothing to worry about. It’s your choice, be in debt and be a slave to a bank or credit card or use them sensibly and be free.
Clear For Life. Easy, Simple And Fun Way To Permanently Heal Acne.
Everyone knows that a credit card is a necessity in our modern times. Have you ever tried to rent a car without one? I have and had to put a $250 deposit down, what a hassle – what if you don’t have the $250 to spare?
If you use a credit card properly they are a blessing, used incorrectly they are a curse. One thing that a lot of people don’t seem to have that gets them into trouble is common sense. This is not just a problem of the young; a lot of us “mature” people seem to be short on common sense also.
Our site http://www.1-800BadCredit.com has a link for credit cards and you will find every type. Lots of people get confused and think credit cards are all the same, they aren’t. That’s why we decided to write this article to show you what to watch for and to get a handle on your credit.
· Use your smarts and be cautious. If your credit is poor or even semi-poor and the only cards offered to you are with high interest rate don’t go crazy in charging. If used properly a credit card can bring your credit score up, used improperly can damage it. Pay your bills on time (that doesn’t mean mailing it on the due date). And if possible pay the entire bill off each month or at least a big portion of it.
· Understand how interest is configured on your card. A lot of people don’t care about this but they should. This is the reason banks give credit cards out; it’s not for your convenience, that’s the way they make money. So if your balance gets high enough where the your interest is $80 per month on the balance owed and the bank sets a minimum payment of $20 and that’s all you pay the next month you pay interest on the $80 interest from last months bill – see where this is going? It is a never-ending cycle and the banks love it!
· If you carry a large balance each month (we hope you don’t) consider a balance transfer to a lower interest card or better a 0% for a set period of time. Then during that time double or triple your payments to pay the balance down or better off completely.
· If you have a large balance and have no immediate opportunity to pay it completely off – be pro-active. If you don’t you are doing exactly what the credit card companies want. Consider taking out a consolidation loan to pay these cards off, and then get smart and don’t use them except for emergencies. If you have a poor credit score you may not get the best interest rate bit I’ll bet it is better than your credit card.
· If you have a large credit card balance but have money in the bank use that to pay your card off. This should be obvious but it isn’t to some people. A friend of mine confided to me that he was $20,000 in credit card debt. He was seeking my advice of what to do. After a few questions about his finances he admitted that he had about $40,000 in a bank CD. I asked him the rate the bank paid him and the rate was ridiculously low. My advice was the obvious, take the money and pay the credit card off. His reason for not doing that in the first place was how long it had taken him to save the money. Sounds silly, yet a lot of people think the same way.
· There are many types of cards available – not just credit cards.
1. If you have a hard time managing credit then use a debit card. That is tied into your bank account and if you don’t have the cash available you can’t make the purchase. If you are undisciplined in credit this is for you.
2. Secured credit cards secured by a deposit but will have a credit limit. With some banks a $250 deposit will only give you a credit limit of $125 to $150. Others the limit is the full deposit. Check the fine print.
3. Store charge cards. These are limited to just that store.
4. Credit cards that give you a certain percentage back.
5. Credit cards that give you other perks like frequent flyer miles. A friend of mine uses this type and charges everything BUT pays it totally off each month. He flies across the country twice a year to visit their sons but pays very little or nothing for his trips.
Whatever type of card you choose, be sensible how you use it. As long as you do this there is nothing to worry about. It’s your choice, be in debt and be a slave to a bank or credit card or use them sensibly and be free.
Clear For Life. Easy, Simple And Fun Way To Permanently Heal Acne.
Noreen Ruth asked:
How can you prove your credit worthiness when no one will give you a chance? If you have bad credit, or no credit at all, you understand how difficult it can be to get moving in the right direction. Luckily, in today’s credit card market there are a variety of options available to assist you. Let us tell you about some of the choices you have to get your credit on the right track:
Secured Credit Cards
Secured credit cards are available to almost any individual. That’s because they require a security deposit which guarantees your credit line. For example, if you deposit $300, you’ll receive a credit line of $300. This may not seem like a true “credit line”, but the charges you make with a secured credit card will be reported to the 3 major credit bureaus, and timely payments will show a positive track record on your credit report. You can use this to your advantage to build or improve your credit history! In time, you can move on to a better credit card offer with no security deposit, lower fees and a better interest rate.
Unsecured Credit Cards
An unsecured credit card is a “traditional” form of credit card which requires no security deposit. Your interest rate and credit line are based upon your credit history. Although most unsecured credit cards are out of reach for many people with poor / no credit, some credit card companies offer unsecured credit cards designed specifically for these individuals. Normally, these credit cards have higher rates and additional fees when compared to standard “unsecured credit cards”, but they do no require a security deposit like secured credit card offers.
Prepaid Credit Cards
A prepaid credit card is like a prepaid phone card. They operate on a “pay-as-you-go” basis and can be used anywhere credit cards are accepted. They offer many benefits, and in most cases, are very easy to use and manage. But be aware, not all prepaid credit cards report your activity to the credit agencies. While you may benefit from the safety and convenience of not carrying cash, you won’t be building or improving your credit if the prepaid credit card company doesn’t report your activity to the major credit bureaus. Luckily, many prepaid credit cards report your credit card activity or offer this option for an additional monthly fee.
How can you prove your credit worthiness when no one will give you a chance? If you have bad credit, or no credit at all, you understand how difficult it can be to get moving in the right direction. Luckily, in today’s credit card market there are a variety of options available to assist you. Let us tell you about some of the choices you have to get your credit on the right track:
Secured Credit Cards
Secured credit cards are available to almost any individual. That’s because they require a security deposit which guarantees your credit line. For example, if you deposit $300, you’ll receive a credit line of $300. This may not seem like a true “credit line”, but the charges you make with a secured credit card will be reported to the 3 major credit bureaus, and timely payments will show a positive track record on your credit report. You can use this to your advantage to build or improve your credit history! In time, you can move on to a better credit card offer with no security deposit, lower fees and a better interest rate.
Unsecured Credit Cards
An unsecured credit card is a “traditional” form of credit card which requires no security deposit. Your interest rate and credit line are based upon your credit history. Although most unsecured credit cards are out of reach for many people with poor / no credit, some credit card companies offer unsecured credit cards designed specifically for these individuals. Normally, these credit cards have higher rates and additional fees when compared to standard “unsecured credit cards”, but they do no require a security deposit like secured credit card offers.
Prepaid Credit Cards
A prepaid credit card is like a prepaid phone card. They operate on a “pay-as-you-go” basis and can be used anywhere credit cards are accepted. They offer many benefits, and in most cases, are very easy to use and manage. But be aware, not all prepaid credit cards report your activity to the credit agencies. While you may benefit from the safety and convenience of not carrying cash, you won’t be building or improving your credit if the prepaid credit card company doesn’t report your activity to the major credit bureaus. Luckily, many prepaid credit cards report your credit card activity or offer this option for an additional monthly fee.
John Porter asked:
Plastic money has changed the way we make transactions today. From the department store to the gas station we can make all our payments through our credit cards. Only a few years back there were just a handful of businesses that accepted payments through credit cards. Today everyone seems to be willing. And there are reasons behind such a credit boom. Businesses have realized that people tend to make more purchases on credit than they do when they pay by cash. And this would be because when they are paying in cash they actually feel what they are spending. Paying through credit card is just about signing on a piece of paper and one often loses the sense of how much his credit has added up to.
Interests that you pay on purchases made through credit cards is quite steep and they can be as high as 18%. In certain cases it can be even more. With such high interest rates you can get into the cycle of paying high interests and late payment fees. And if this continues for long you will soon land in a debt trap. So it becomes imperative that you refinance your debt at a lower rate.
So how do you refinance your credit card debts? There are several ways in which you can do that. You can take a personal loan and pay off your credit card debt with that money. Since personal loan has a much lower rate of interest it will be easier for you to pay off that loan. And not only do you save on interest rates. There are quite a few fees that you need to pay regularly for your credit card. You get rid of that need also. The interest rates on personal loans do vary and the variation largely depends on the individual’s personal credit history. But no matter what the variation is, it is still much lower than what you will have to pay for a credit card.
Another way you can refinance your credit card dues is to take a home equity loan. Again the interest rates are much lower compared to the rates of a credit card. In fact with this type of loan, rates are lesser than even personal loan interest rates. At such low rates you can make a lot of savings by refinancing the credit card dues.
Secured credit cards are another very popular breed of credit cards. Secured credit cards, as their name suggests, are secured. Well, they are secured for the credit card supplier, really. Secured credit cards require you to open an account with the credit card supplier and maintain some cash balance in that account. This cash balance acts as a security for the supplier of secured credit card. Your credit limit is dependent on the amount you hold in the account that you have started with the supplier of secured credit card. This is generally between 50 to 100% of your account balance. So in that sense, secured credit cards are not really credit cards (since they don’t offer you any credit really). For this reason, the secured credit cards are sometimes also referred as debit cards.
Plastic money has changed the way we make transactions today. From the department store to the gas station we can make all our payments through our credit cards. Only a few years back there were just a handful of businesses that accepted payments through credit cards. Today everyone seems to be willing. And there are reasons behind such a credit boom. Businesses have realized that people tend to make more purchases on credit than they do when they pay by cash. And this would be because when they are paying in cash they actually feel what they are spending. Paying through credit card is just about signing on a piece of paper and one often loses the sense of how much his credit has added up to.
Interests that you pay on purchases made through credit cards is quite steep and they can be as high as 18%. In certain cases it can be even more. With such high interest rates you can get into the cycle of paying high interests and late payment fees. And if this continues for long you will soon land in a debt trap. So it becomes imperative that you refinance your debt at a lower rate.
So how do you refinance your credit card debts? There are several ways in which you can do that. You can take a personal loan and pay off your credit card debt with that money. Since personal loan has a much lower rate of interest it will be easier for you to pay off that loan. And not only do you save on interest rates. There are quite a few fees that you need to pay regularly for your credit card. You get rid of that need also. The interest rates on personal loans do vary and the variation largely depends on the individual’s personal credit history. But no matter what the variation is, it is still much lower than what you will have to pay for a credit card.
Another way you can refinance your credit card dues is to take a home equity loan. Again the interest rates are much lower compared to the rates of a credit card. In fact with this type of loan, rates are lesser than even personal loan interest rates. At such low rates you can make a lot of savings by refinancing the credit card dues.
Secured credit cards are another very popular breed of credit cards. Secured credit cards, as their name suggests, are secured. Well, they are secured for the credit card supplier, really. Secured credit cards require you to open an account with the credit card supplier and maintain some cash balance in that account. This cash balance acts as a security for the supplier of secured credit card. Your credit limit is dependent on the amount you hold in the account that you have started with the supplier of secured credit card. This is generally between 50 to 100% of your account balance. So in that sense, secured credit cards are not really credit cards (since they don’t offer you any credit really). For this reason, the secured credit cards are sometimes also referred as debit cards.
cynthiastewart asked:
Secured credit cards are special type of credit cards which are issued against a collateral. Generally a checking account or some other collateral comes into picture while issuing of a secured credit card. The credit limit of a secured credit card is equal to the value or amount available in the collateral. It is particularly rare to get a credit greater than this amount with a secured credit card.
Secured credit cards option are exercised generally by those with bad credit history and poor credit score to get themselves back on track. Credit card issuing companies, ask for collateral because they find providing credit cards to such people too risky. A good use of secured credit card can give the credit card issuer enough confidence to issue an unsecured credit card in your name.
A good thing to have with secured credit cards is that they should report your spending habits to the three major credit reporting agencies. Strange but true, not all secured credit card holders do that. Unless this feature is present in a secured credit card, it will be of little use for those trying to use it for rebuilding their credit history.
Though secured credit cards are linked with a collateral, they still have some fees and terms associated with them. Before going for a secured credit card, a person must check the various APR’s associated with the credit card. If the secured credit card charges an annual fee, the applicant should try to get one with the lowest amount of interest rates and annual fees. The billing period and grace period allowed for repayments should also be considered. Already suffering with a bad credit situation, the last thing to do with a secured credit card is to take a cash advance with it, simply because the cash advance attracts high interest rates and a cash advance fees.
Care should be taken that the secured credit card is actually used in a way that rebuilds credit history. Sticking to repayment schedule like a religion, and not over indulging with the credit card will help a lot in getting the most out of your secured credit card.
Secured credit cards are special type of credit cards which are issued against a collateral. Generally a checking account or some other collateral comes into picture while issuing of a secured credit card. The credit limit of a secured credit card is equal to the value or amount available in the collateral. It is particularly rare to get a credit greater than this amount with a secured credit card.
Secured credit cards option are exercised generally by those with bad credit history and poor credit score to get themselves back on track. Credit card issuing companies, ask for collateral because they find providing credit cards to such people too risky. A good use of secured credit card can give the credit card issuer enough confidence to issue an unsecured credit card in your name.
A good thing to have with secured credit cards is that they should report your spending habits to the three major credit reporting agencies. Strange but true, not all secured credit card holders do that. Unless this feature is present in a secured credit card, it will be of little use for those trying to use it for rebuilding their credit history.
Though secured credit cards are linked with a collateral, they still have some fees and terms associated with them. Before going for a secured credit card, a person must check the various APR’s associated with the credit card. If the secured credit card charges an annual fee, the applicant should try to get one with the lowest amount of interest rates and annual fees. The billing period and grace period allowed for repayments should also be considered. Already suffering with a bad credit situation, the last thing to do with a secured credit card is to take a cash advance with it, simply because the cash advance attracts high interest rates and a cash advance fees.
Care should be taken that the secured credit card is actually used in a way that rebuilds credit history. Sticking to repayment schedule like a religion, and not over indulging with the credit card will help a lot in getting the most out of your secured credit card.
Adam Singleton asked:
Credit card fraud is a constant cause of concern for almost every credit card or debit card user. After all, having your credit card details stolen means that it’s more than your money that is in danger of being taken away from you – your name, personal address and your personal identity will all be under threat as well. The last major credit card scandal to rock news headlines, for instance, occurred in March 2007 when US company TJX, the owners of UK retail outlet TK Maxx, revealed that at least 45.7 million payment card details from its customers had been stolen by hackers.
While the TK Maxx credit card scandal sent shockwaves through the credit card statements of many UK consumers, it’s important to see the scale of this particular case as an anomaly rather than the norm. In fact, a recent survey by APACS, the UK payments association, shows that total card fraud losses have continued to fall between 2004 and 2006. Last year, total card fraud losses across the UK stood at £428 million – that’s three per cent lower than 2005’s figure of £439.4 million. In turn, the 2005 statistics were an improvement from 2004, at which time total card fraud accounted for over £500 million.
While fraud on stolen or lost cards and mail-non receipt fraud dropped significantly in 2006 – by a staggering 23 per cent and 62 per cent respectively – other types of card fraud are still on the up. The biggest increase in credit card fraud has been in the card-not-present category – by which card fraud that has occurred over the phone, mail or internet. This category saw fraud rise by a whole 16 per cent.
In fact, online card fraud has been a major concern for many consumers of late as the breadth of the goods and services offered on the internet means that more and more people are paying for products over the internet. However, many credit card companies are taking action to ensure that credit card fraud due to online payments is as minimal as possible.
Visa, for instance, have just launched Verified by Visa – a new service that, once activated, requires the cardholder to enter a personally-set password every time they make a payment online. By using this identity protecting format, Verified by Visa technology allows Visa cardholders to minimise the risk of having their card details stolen online and offers a new method of online payments that is sure to see results.
If you’re looking for a new credit card provider online, and credit card security is one of your primary concerns, you’ll be able to compare credit cards over the internet to establish which credit card companies offer you the best safeguards against security and card fraud. Of course, whatever credit card company you ultimately opt for, it’s always crucial to adhere to basic preventative advice – such as not giving your credit card to any person you don’t trust, and not throwing away your card when it’s expired, but cutting it up instead. Taking these basic precautions against card fraud will minimise the risk of identity theft and will bolster any protection your credit card company might be able to give you.
Acne is a serious problem and it is not fun. Now you can be Acne Free in 3 Days!
Credit card fraud is a constant cause of concern for almost every credit card or debit card user. After all, having your credit card details stolen means that it’s more than your money that is in danger of being taken away from you – your name, personal address and your personal identity will all be under threat as well. The last major credit card scandal to rock news headlines, for instance, occurred in March 2007 when US company TJX, the owners of UK retail outlet TK Maxx, revealed that at least 45.7 million payment card details from its customers had been stolen by hackers.
While the TK Maxx credit card scandal sent shockwaves through the credit card statements of many UK consumers, it’s important to see the scale of this particular case as an anomaly rather than the norm. In fact, a recent survey by APACS, the UK payments association, shows that total card fraud losses have continued to fall between 2004 and 2006. Last year, total card fraud losses across the UK stood at £428 million – that’s three per cent lower than 2005’s figure of £439.4 million. In turn, the 2005 statistics were an improvement from 2004, at which time total card fraud accounted for over £500 million.
While fraud on stolen or lost cards and mail-non receipt fraud dropped significantly in 2006 – by a staggering 23 per cent and 62 per cent respectively – other types of card fraud are still on the up. The biggest increase in credit card fraud has been in the card-not-present category – by which card fraud that has occurred over the phone, mail or internet. This category saw fraud rise by a whole 16 per cent.
In fact, online card fraud has been a major concern for many consumers of late as the breadth of the goods and services offered on the internet means that more and more people are paying for products over the internet. However, many credit card companies are taking action to ensure that credit card fraud due to online payments is as minimal as possible.
Visa, for instance, have just launched Verified by Visa – a new service that, once activated, requires the cardholder to enter a personally-set password every time they make a payment online. By using this identity protecting format, Verified by Visa technology allows Visa cardholders to minimise the risk of having their card details stolen online and offers a new method of online payments that is sure to see results.
If you’re looking for a new credit card provider online, and credit card security is one of your primary concerns, you’ll be able to compare credit cards over the internet to establish which credit card companies offer you the best safeguards against security and card fraud. Of course, whatever credit card company you ultimately opt for, it’s always crucial to adhere to basic preventative advice – such as not giving your credit card to any person you don’t trust, and not throwing away your card when it’s expired, but cutting it up instead. Taking these basic precautions against card fraud will minimise the risk of identity theft and will bolster any protection your credit card company might be able to give you.
Acne is a serious problem and it is not fun. Now you can be Acne Free in 3 Days!
Joseph Kenny asked:
With the ever rising reports of credit card fraud, fraudulent use, internet phishing and identity theft, people are rightly concerned about credit card security. Fraudulent credit card use can be an annoyance at best, and seriously damage your credit at worst. It’s only reasonable that people have questions about credit card security and authentication methods. Here are some of the most frequently asked questions about credit card security.
1. How does the ATM or store terminal know my PIN number?
PIN (personal identification numbers) are the most often used way to authenticate your identity when you use your credit or ATM card. When you first choose your PIN number, it is ‘encrypted’ – stored in a secret code of letters and symbols – and either stored in a database or on the magnetic stripe on the back of your card.
2. If my PIN number is stored in a database, doesn’t that mean that bank or credit card employees have access to it?
The encryption method that’s used by ATM and credit cards is called ‘one-way encryption’. It makes it easy for the bank’s computer to verify the PIN given the bank’s key and the PIN, but nearly impossible to extract the PIN in text form from the encrypted database.
3. How does the machine ‘read’ my card?
The stripe on the back of your credit or ATM card is called a magnetic stripe. It’s actually made up of thousands of tiny magnetic iron-based particles. The card can be ‘written to’ much the same way that the hard drive on your computer can be written – by means of magnetic interaction changing the charge. Written into the stripe are your account number and identifying data. When you swipe the card, that information is read and sent via modem to an ‘acquirer’ – a company that ‘acquires’ a payment guarantee from the credit card company based on the information stored on your card’s magnetic stripe.
4. Isn’t buying on the internet dangerous and insecure?
Honestly? Your credit card information is in less danger being transmitted over the internet than it is when you hand your card to a store clerk at the counter. The real danger to your credit card information isn’t from hackers hitting online merchants, or stealing your credit card information via modem or phone lines. The real internet security dangers come from two different directions:
a. Hackers using back doors to get into the records of banks, credit card companies and data repositories.
This is the biggest danger. It’s also a danger for stores and companies that have records ‘online’ for billing purposes. There’s a great deal being done to improve security of data repositories, which are far more vulnerable than any data transmission stream.
b. The second big credit card security danger is the practice that’s sometimes called ‘phishing’.
In this case, the credit card thieves trick you into giving them your identification and credit card data. They may do this with an email purporting to be from an official of your internet service provider or email, your credit card issuer or anyone else. They also may build sites that are identical to sites like Paypal, American Express and others for the express purpose of capturing your information so that they can use it.
5. How do I protect myself from phishers?
First, never provide your social security number or other identifying data to anyone without first verifying that they are exactly who they say they are. Experts recommend that you never use the link provided in an email to go to the site of someone you do business with. Instead, open a new browser window and type in the known address by hand
You may freely reprint this article provided that the author bio and live links are left intact.
Even If Your Spouse or Lover Has Been Having an Affair..You’ll Bring Them Back
With the ever rising reports of credit card fraud, fraudulent use, internet phishing and identity theft, people are rightly concerned about credit card security. Fraudulent credit card use can be an annoyance at best, and seriously damage your credit at worst. It’s only reasonable that people have questions about credit card security and authentication methods. Here are some of the most frequently asked questions about credit card security.
1. How does the ATM or store terminal know my PIN number?
PIN (personal identification numbers) are the most often used way to authenticate your identity when you use your credit or ATM card. When you first choose your PIN number, it is ‘encrypted’ – stored in a secret code of letters and symbols – and either stored in a database or on the magnetic stripe on the back of your card.
2. If my PIN number is stored in a database, doesn’t that mean that bank or credit card employees have access to it?
The encryption method that’s used by ATM and credit cards is called ‘one-way encryption’. It makes it easy for the bank’s computer to verify the PIN given the bank’s key and the PIN, but nearly impossible to extract the PIN in text form from the encrypted database.
3. How does the machine ‘read’ my card?
The stripe on the back of your credit or ATM card is called a magnetic stripe. It’s actually made up of thousands of tiny magnetic iron-based particles. The card can be ‘written to’ much the same way that the hard drive on your computer can be written – by means of magnetic interaction changing the charge. Written into the stripe are your account number and identifying data. When you swipe the card, that information is read and sent via modem to an ‘acquirer’ – a company that ‘acquires’ a payment guarantee from the credit card company based on the information stored on your card’s magnetic stripe.
4. Isn’t buying on the internet dangerous and insecure?
Honestly? Your credit card information is in less danger being transmitted over the internet than it is when you hand your card to a store clerk at the counter. The real danger to your credit card information isn’t from hackers hitting online merchants, or stealing your credit card information via modem or phone lines. The real internet security dangers come from two different directions:
a. Hackers using back doors to get into the records of banks, credit card companies and data repositories.
This is the biggest danger. It’s also a danger for stores and companies that have records ‘online’ for billing purposes. There’s a great deal being done to improve security of data repositories, which are far more vulnerable than any data transmission stream.
b. The second big credit card security danger is the practice that’s sometimes called ‘phishing’.
In this case, the credit card thieves trick you into giving them your identification and credit card data. They may do this with an email purporting to be from an official of your internet service provider or email, your credit card issuer or anyone else. They also may build sites that are identical to sites like Paypal, American Express and others for the express purpose of capturing your information so that they can use it.
5. How do I protect myself from phishers?
First, never provide your social security number or other identifying data to anyone without first verifying that they are exactly who they say they are. Experts recommend that you never use the link provided in an email to go to the site of someone you do business with. Instead, open a new browser window and type in the known address by hand
You may freely reprint this article provided that the author bio and live links are left intact.
Even If Your Spouse or Lover Has Been Having an Affair..You’ll Bring Them Back
Stephen Sikes asked:
It seems every day there is a new story about identity theft and credit card fraud somewhere. Sometimes there are hundreds of these stories in a day. With so many people out there desperate to take our credit card numbers, how do we keep them save? Here are five tips that will give you a good start.
Keep your Numbers Private
Your credit card is a personal card that is meant for you. While it may just seem like a piece of plastic, you should not freely lend your card out to people you know, or give out your credit card number for no good reason. Even when you have to pay for something at a restaurant or other location, you should try to keep an eye on what is happening to your card to make sure someone isn’t copying down your numbers to use later.
Shred Receipts
Receipts are not supposed to show more than the last four digits of your credit card, but many of them do. They also have a lot of your other personal information on them. Once you are done using your receipts, or filing them away for taxes, you should shred them instead of putting them in a regular trash can. Don’t make the information easy to find for someone who may be up to no good.
Shred Application
Credit card applications come in as much as other pieces of junk mail. You may see them so much that you no longer care about them and toss them in the trash without a second thought. That is not a good idea. That application has some of your information on it. You should always shred credit applications to make sure someone else doesn’t fish them out of the trash and try to open a line of credit in your name.
Use Secure Websites
If you do a lot of online shopping, make sure you are using a secure online site. Look for that little padlock logo in the corner of your web browser so you know the information you are entering is secure and only going to those you want to be giving it to.
Watch Your Card Statement
The best thing you can do to keep your credit cards secure is keep a close eye on what is happening on them. If you do online banking, you should check your credit cards regularly to make sure all the charges coming through are ones you put there. If you wait until the statement comes, make sure to look at it as soon as it comes and call if you see anything that is suspicious.
It seems every day there is a new story about identity theft and credit card fraud somewhere. Sometimes there are hundreds of these stories in a day. With so many people out there desperate to take our credit card numbers, how do we keep them save? Here are five tips that will give you a good start.
Keep your Numbers Private
Your credit card is a personal card that is meant for you. While it may just seem like a piece of plastic, you should not freely lend your card out to people you know, or give out your credit card number for no good reason. Even when you have to pay for something at a restaurant or other location, you should try to keep an eye on what is happening to your card to make sure someone isn’t copying down your numbers to use later.
Shred Receipts
Receipts are not supposed to show more than the last four digits of your credit card, but many of them do. They also have a lot of your other personal information on them. Once you are done using your receipts, or filing them away for taxes, you should shred them instead of putting them in a regular trash can. Don’t make the information easy to find for someone who may be up to no good.
Shred Application
Credit card applications come in as much as other pieces of junk mail. You may see them so much that you no longer care about them and toss them in the trash without a second thought. That is not a good idea. That application has some of your information on it. You should always shred credit applications to make sure someone else doesn’t fish them out of the trash and try to open a line of credit in your name.
Use Secure Websites
If you do a lot of online shopping, make sure you are using a secure online site. Look for that little padlock logo in the corner of your web browser so you know the information you are entering is secure and only going to those you want to be giving it to.
Watch Your Card Statement
The best thing you can do to keep your credit cards secure is keep a close eye on what is happening on them. If you do online banking, you should check your credit cards regularly to make sure all the charges coming through are ones you put there. If you wait until the statement comes, make sure to look at it as soon as it comes and call if you see anything that is suspicious.
Kim Stevens asked:
Whether you are a college student or the parent of a college student, you may have started looking at various types of credit cards for college students. Having a credit card while in college is almost a necessity. Generally, college students do not have much money to spare since they are attending school. Therefore, they need to rely on their parent’s financial support or they have to borrow money from a credit card while in school and then pay the borrowed money back later. To choose the right student credit card, however, it is important to understand the differences between different credit cards and the benefits and drawbacks to both.
Unsecured Student Credit Cards
Unsecured student credit cards are those that extend a line of credit to the cardholder. Therefore, you can spend money with the card as a loan and pay the money back later. Since college students tend to have very little credit history, it can be difficult to get a credit card. Obviously, most credit card companies prefer to extend a line of credit to someone with a proven history of paying back loans.
Fortunately, there are a number of credit cards that cater specifically to college students. These companies understand that a person attending college will not have a great deal of established credit history, yet need the help of a credit card to get through college. In addition, the fact that you are attending college gives the companies a reason to believe that you will be responsible about paying back your debt.
The greatest benefit to an unsecured student credit card is that you don’t have to have money to use it. Therefore, college students that don’t have the cash up front can take advantage of the borrowed money to by books, school supplies, and to help pay for living expenses. This can be a lifesaver to someone who is scraping by while in college. In addition, there are a number of unsecured student credit cards available that do not have annual fees or any other types of fees.
The biggest drawback to an unsecured student credit card is that it is possible to spend beyond your means and acquire a debt that you are unable to overcome. If this happens, or if you are unable to keep up with your payments, your credit can be destroyed. For someone who is working on just getting started in life as an adult, it is not good to get started with a major debt or a big black mark on your credit record. In addition, student credit cards tend to have a higher interest rate than traditional credit cards. Therefore, you may pay a great deal of money in finance charges when borrowing money in this way.
Secured Student Credit Cards
Secured student credit cards are cards that money is deposited onto ahead of time. In other words, if you don’t put your own money on the card before spending the money, you can’t use the card. Therefore, secured student credit cards are like a debit card. Secured student credit cards do not look any different from unsecured student credit cards.
The benefits of secured student credit cards are that you can still have the flexibility offered by carrying a credit card, but you don’t have to worry about burying yourself in debt. For parents that are helping their college-age child through college, secured student credit cards are a great way to provide the student with an allowance to help pay for college expenses.
The major drawback to secured student credit cards is that these cards usually have a large number of fees. Often, there is a fee to set up the account in the first place. Then, there are usually annual fees and maybe even monthly fees. There are also fees associated with depositing, or “loading,” money to the card. These fees can be quite expensive.
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Whether you are a college student or the parent of a college student, you may have started looking at various types of credit cards for college students. Having a credit card while in college is almost a necessity. Generally, college students do not have much money to spare since they are attending school. Therefore, they need to rely on their parent’s financial support or they have to borrow money from a credit card while in school and then pay the borrowed money back later. To choose the right student credit card, however, it is important to understand the differences between different credit cards and the benefits and drawbacks to both.
Unsecured Student Credit Cards
Unsecured student credit cards are those that extend a line of credit to the cardholder. Therefore, you can spend money with the card as a loan and pay the money back later. Since college students tend to have very little credit history, it can be difficult to get a credit card. Obviously, most credit card companies prefer to extend a line of credit to someone with a proven history of paying back loans.
Fortunately, there are a number of credit cards that cater specifically to college students. These companies understand that a person attending college will not have a great deal of established credit history, yet need the help of a credit card to get through college. In addition, the fact that you are attending college gives the companies a reason to believe that you will be responsible about paying back your debt.
The greatest benefit to an unsecured student credit card is that you don’t have to have money to use it. Therefore, college students that don’t have the cash up front can take advantage of the borrowed money to by books, school supplies, and to help pay for living expenses. This can be a lifesaver to someone who is scraping by while in college. In addition, there are a number of unsecured student credit cards available that do not have annual fees or any other types of fees.
The biggest drawback to an unsecured student credit card is that it is possible to spend beyond your means and acquire a debt that you are unable to overcome. If this happens, or if you are unable to keep up with your payments, your credit can be destroyed. For someone who is working on just getting started in life as an adult, it is not good to get started with a major debt or a big black mark on your credit record. In addition, student credit cards tend to have a higher interest rate than traditional credit cards. Therefore, you may pay a great deal of money in finance charges when borrowing money in this way.
Secured Student Credit Cards
Secured student credit cards are cards that money is deposited onto ahead of time. In other words, if you don’t put your own money on the card before spending the money, you can’t use the card. Therefore, secured student credit cards are like a debit card. Secured student credit cards do not look any different from unsecured student credit cards.
The benefits of secured student credit cards are that you can still have the flexibility offered by carrying a credit card, but you don’t have to worry about burying yourself in debt. For parents that are helping their college-age child through college, secured student credit cards are a great way to provide the student with an allowance to help pay for college expenses.
The major drawback to secured student credit cards is that these cards usually have a large number of fees. Often, there is a fee to set up the account in the first place. Then, there are usually annual fees and maybe even monthly fees. There are also fees associated with depositing, or “loading,” money to the card. These fees can be quite expensive.
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Dwayne Garrett asked:
Oddly enough, not only will bad credit work against you when applying for a loan or a credit card, but no credit will too. Even though this doesn’t seem fair, it is the way things work in the complicated world of consumer credit. Lenders are leery about opening accounts for people with no credit history because they simply have nothing to base your reliability on.
So, if you can’t build a credit history without credit and you can’t get credit without a credit history, just what has a person to do? It’s nearly impossible to rent a car, stay in a hotel, or shop online without a credit card, so let’s explore a few of the options that can eliminate this Catch-22.
Available Credit Options
Although many of the major credit card companies won’t give you a card without a credit history, some smaller ones, like department stores, will. Find a department store that will issue you a card and apply for it. You can try getting a gas station card also. Either way, use your card but be sure to make all payments on time. Your goal is to build a good credit history, not just get a credit card.
Find a credit card company that will review your overall financial situation and not just your credit history. Some lenders will look at your employment history, your housing situation, and how often you have moved. If this is all on the up and up, they may approve your application. Again, use this card wisely.
Credit Unions
If you are a credit union member, or are eligible for membership, see what their card issuing terms are. Although they are no giving out cards with their eyes closed, they will often have more relaxed conditions for members. You no longer have to work for a specific company to be eligible to join a credit union. So it’s well worth checking if there’s one in your area.
Secured Credit Cards
Secured credit cards are offered by lenders who will give you a line of credit that either matches, or is slightly higher than, a cash deposit that you give them to hold. As your experience with the card grows, these lenders will often raise your limit without requiring you to increase your deposit. Eventually, you can use your experience with this lender to apply for cards that are not secured.
Student Credit Cards
If you are a student, then you’ll be best off with a student credit card. Student credit cards can be a great way of building the credit history that you will need to depend upon after graduation. The important thing here is to remember to use that opportunity wisely. Many banks will issue college students a credit card, especially banks that are located in college or university cities and towns.
When you do manage to get a credit card, remember that you are establishing a credit history. Show that you are a good financial risk by paying the bill on time. Don’t go crazy with the spending. It will only cause you problems in the future.
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Oddly enough, not only will bad credit work against you when applying for a loan or a credit card, but no credit will too. Even though this doesn’t seem fair, it is the way things work in the complicated world of consumer credit. Lenders are leery about opening accounts for people with no credit history because they simply have nothing to base your reliability on.
So, if you can’t build a credit history without credit and you can’t get credit without a credit history, just what has a person to do? It’s nearly impossible to rent a car, stay in a hotel, or shop online without a credit card, so let’s explore a few of the options that can eliminate this Catch-22.
Available Credit Options
Although many of the major credit card companies won’t give you a card without a credit history, some smaller ones, like department stores, will. Find a department store that will issue you a card and apply for it. You can try getting a gas station card also. Either way, use your card but be sure to make all payments on time. Your goal is to build a good credit history, not just get a credit card.
Find a credit card company that will review your overall financial situation and not just your credit history. Some lenders will look at your employment history, your housing situation, and how often you have moved. If this is all on the up and up, they may approve your application. Again, use this card wisely.
Credit Unions
If you are a credit union member, or are eligible for membership, see what their card issuing terms are. Although they are no giving out cards with their eyes closed, they will often have more relaxed conditions for members. You no longer have to work for a specific company to be eligible to join a credit union. So it’s well worth checking if there’s one in your area.
Secured Credit Cards
Secured credit cards are offered by lenders who will give you a line of credit that either matches, or is slightly higher than, a cash deposit that you give them to hold. As your experience with the card grows, these lenders will often raise your limit without requiring you to increase your deposit. Eventually, you can use your experience with this lender to apply for cards that are not secured.
Student Credit Cards
If you are a student, then you’ll be best off with a student credit card. Student credit cards can be a great way of building the credit history that you will need to depend upon after graduation. The important thing here is to remember to use that opportunity wisely. Many banks will issue college students a credit card, especially banks that are located in college or university cities and towns.
When you do manage to get a credit card, remember that you are establishing a credit history. Show that you are a good financial risk by paying the bill on time. Don’t go crazy with the spending. It will only cause you problems in the future.
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Joseph Kenny asked:
If you have bad credit, you may be under the impression that you are not able to apply for a credit card. While it is true that you may be rejected from getting certain credit cards or loans, there are options available for those who have bad credit. Since a sizeable percentage of the population has bad credit, this has created a market which many banks and credit card companies have tapped into.
Your credit report is a reflection of your credit history, and it is very important when you need to apply for a car or mortgage. There may be situations where you will need a credit card to complete a certain transaction, and if you have bad credit you will run into problems. There are a number of options available for those with bad credit who want cards. Secured credit cards are one good option. A secured credit card allows you to deposit money into the account which you can then use.
Instead of borrowing money from the credit card company, you use your own money. You will not be allowed to go over the amount you place on the card. Despite this, you may have to pay the credit card company a fee in order to use their cards, and this is how their money is made. A secured credit card can be used to make any of the purchases you can make with a unsecured credit card. A prepaid debit card is another option that is used by people who have less than perfect credit.
If you are a student in college, an option may be available for you called a secured student credit card. These cards will allow students to begin building their credit while they’re still in school. Students who use these cards are prevented from going over their limit because they can only spend money which they’ve placed on the cards. It is important to remember that you won’t get the best deals or rates if your credit is poor. However, we live in an electronic age, and it is difficult to conduct many transactions without having either a debit or credit card.
Secured credit cards are a great way to allow you to make transactions while you continue to rebuild your credit. If you work hard to repair your credit, you won’t be in debt forever, and using these cards will allow you to easily make electronic transactions.
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If you have bad credit, you may be under the impression that you are not able to apply for a credit card. While it is true that you may be rejected from getting certain credit cards or loans, there are options available for those who have bad credit. Since a sizeable percentage of the population has bad credit, this has created a market which many banks and credit card companies have tapped into.
Your credit report is a reflection of your credit history, and it is very important when you need to apply for a car or mortgage. There may be situations where you will need a credit card to complete a certain transaction, and if you have bad credit you will run into problems. There are a number of options available for those with bad credit who want cards. Secured credit cards are one good option. A secured credit card allows you to deposit money into the account which you can then use.
Instead of borrowing money from the credit card company, you use your own money. You will not be allowed to go over the amount you place on the card. Despite this, you may have to pay the credit card company a fee in order to use their cards, and this is how their money is made. A secured credit card can be used to make any of the purchases you can make with a unsecured credit card. A prepaid debit card is another option that is used by people who have less than perfect credit.
If you are a student in college, an option may be available for you called a secured student credit card. These cards will allow students to begin building their credit while they’re still in school. Students who use these cards are prevented from going over their limit because they can only spend money which they’ve placed on the cards. It is important to remember that you won’t get the best deals or rates if your credit is poor. However, we live in an electronic age, and it is difficult to conduct many transactions without having either a debit or credit card.
Secured credit cards are a great way to allow you to make transactions while you continue to rebuild your credit. If you work hard to repair your credit, you won’t be in debt forever, and using these cards will allow you to easily make electronic transactions.
Clear For Life. Easy, Simple And Fun Way To Permanently Heal Acne.