Have discipline
July 24, 2009
Do you love’s shopping? Are you easily tempted on the mall wide sale? And ends up using your credit cards like there’s no tomorrow? Then once the billing statement goes to your hand you end up surprised of how big the amount you should pay? Or you don’t get out of the mall without buying anything even if you don’t have any plan buying things? If you’re this type of person might as well have some self control. Learn to know your limits so once the sale season is here again you will not end up sorry for the purchases you made. Remind yourself how much you should only spend when you enter the mall. Learn some money discipline. If you don’t have something to buy then refrain from going out. Avoid the temptation, just stay at home. In this way you will not see what the latest in fashion is and you will not be tempted to buy. This will enable you to handle the finances easily.
Debts
July 23, 2009
We’ve been talking here debts for such a long time. Some may give suggestions on how to maintain good credit standing and how to handle it well while some may rant their stories about credit mismanagement. But the big question is who does not have any debts? It does not matter how much is your debt but how well you handle it. It does not just mean paying the entire amount of your obligation but able to pay it without having troubles of sacrificing your monthly budget. The only key here is how flexible your budget can be at times when your dues are coming. It’s not that easy to do but I’m sure if all of us just have enough money on our hands we can be free of debts. Aside from that we just need the right knowledge how to spend wisely in order to have a control on their debts.
CREDIT CARD DEBT- THE CONS
July 21, 2009
Credit cards are a form of unsecured short-term loans. They are accessed through plastic- made credit cards and hence, are popularly called ‘plastic money’. Credit card debt must be paid on time lest the piled-up penalties burn a hole in your pockets. This often leads us to paying twice more than what we actually owe. Account holders can request a reduction in their annual percentage rate (APR). APR is the annualized interest rate and not the monthly rate/fee. Sometimes the late fees, high annual percentage rates and universal default overcome consumers who frequently do not pay off their debt, and they file for bankruptcy. If such a situation arises, the companies are required to forgive all the debt or write-off all the debt. This bad debt might as well lead to a loss for the company and if such petty losses pile up, they may ultimately lead to the shut down of the company.
Online vs. Offline Credit Card Application
July 21, 2009
A credit card is a thing with which you can buy things at any moment and pay for it later, in lieu the credit card company charges a certain interest on the principal amount. A credit card has various advantages and applications. Nowadays various companies provide discounts and certain special offers if you pay by credit card. Along with these advantages it has various offline and online applications as well. Offline applications involve the one with which you make payments in any shopping centre, at any restaurant, petrol pumps, to buy a home appliance and to any clearance of any bill. Online applications involves paying you bills online, booking of hotels or tickets for flights, train and now with a credit card you can book even a movie ticket. All these applications of credit card make life very easy but you should have control over your desires to take its rewards.
How to Keep Your Credit Cards Safe
July 21, 2009
Online shopping is the most convenient way of shopping nowadays. Shopping via computer is preferred by most of the people because it is time saving. During online transactions, credit card number is sent to the merchant through email. This email can be intercepted by an eavesdropper. Therefore security of credit card an issue of great concern and some tips for the safety of credit card are:
1. Credit cards can be duplicated and this technique is known as skimming. So, while paying a bill in any restaurant or café just keep an eye on your credit card.
2. Ask for other person’s identification and critically examine that the other person is a genuine or not before any purchase.
3. Do not forget to give the notification to the credit card provider in case of lost or stolen credit card.
4. Destroy the old credit cards by cutting the magnetic stripe.
5. Encrypt your credit card number before sending it though mail so that it cannot be intercepted or forged by any eavesdropper.
How to do Secure Online Transaction with Credit Cards
July 21, 2009
The online transactions are massively increasing as the latest technologies are arriving, with these transactions billions of dollars are being exchanged over various countries and to various bank accounts every single day. Also online shopping and various online billing systems have brought consumers lower prices, incredibly diverse choices and ease of buying that simply can’t be matched in the physical world. However as the money is changing hands every day, there are sharks that are trying to snap money from your transactions. To protect you money from these hackers you must take care of various things
• Don’t give your credit card number over to any unknown person on the internet.
• Beware of mails that give you free gifts, often mail arrives saying you’ve become a millionaire.
• Do not tell anyone your password.
• Report any theft to the bank and to the police as early as possible.
How to deal with credit card recovery agents
July 21, 2009
A recovery agent is a person that comes to you for taking the payment of your credit card debt; these guys generally come at your door if you miss you monthly repayment installment continuously for various months. They appear and ask for money, and tell you of the dire consequences if you’ll not pay to you debt back to the credit card company.
Today’s scenarios has changed a lot, instead of sending their executives for getting payment they generally send other people who are a bit powerful and force you to give money. Always ask for an authorized letter from the bank and do check for their identification before giving them money and before any talks with him. Always pay by a crossed account payee cheque and avoid payment by cash. Inform to the police if you are harassed by the recovery agents immediately.
Platinum Credit Cards
July 21, 2009
Platinum is the word which is uses for precious things. Platinum credit card offers great privileges and that too in its own realm of lifestyle. Various benefits of platinum credit cards are:
1. Global acceptance of platinum card.
2. High cash and credit limits.
3. Earning of reward points on the money spent from credit cards.
4. Reward points can be redeemed for exciting prizes and services.
5. Advantage of low interest rate of 2.5% per month.
Other privileges with platinum credit cards are:
1. World wide visit is a pleasurable experience with platinum credit card.
2. Platinum credit card provides excellent offers from gym’s and hospitals for the heath and fitness of your loved one’s.
3. Platinum credit card offers comprehensive travel insurance and exclusive travel benefits.
4. If in case the credit card is lost or stolen or lost then on any fraudulent transactions there will be a zero liability.
With platinum credit card you can get exclusive privileges to enjoy the world.
Gold Credit Cards
July 21, 2009
In present days, credit card is the best and most easy way of carrying money. Gold credit cards are the most desirable credit cards nowadays because competent to the lifestyle of the people they are provided with high credit as well as cash limits. Other reasons for the preference of gold cards are that they can be accessed all over the world and people can earn reward points also on the money they spent from the credit card. There are some other features and benefits of having gold credit cards such as:
1. Redemption of reward points for various services and exciting prizes.
2. Advantage of interest free credit facility of 50 days after the purchase.
3. Global acceptance of gold card.
4. Facility of add- on card for the family. Even the other members of the family can also use the services offered and that too just free of cost.
5. Other benefits are seen in travel such as cash back offers and discounts.
Use your Credit Card only in Emergency
July 21, 2009
Idea of having a credit card is a perfect one, emergencies always arrives in one’s life without any signal. These times do arise, often times more than once, in these cases you can of your emergency bills quickly at the spot with a later option. Credit card companies charge interest on monthly basis and due to this reason a huge debt gets piled up in your credit card amount. If you are using credit card to pay for each and every things you’re buying then you can face troubles while repaying it. Also credit cards will bite you hard because you need it for an emergency and might be a moment when you’ve used it for something else. After any emergency situation you lost your job and you just start using up your credit card for buying things, you rack up a particular amount to repay and after you get your job back, but that debt’s not easy to repay especially at an interest rate that varies from 18-24%. You’re minimum payments each month could raise upto thousands and that just cover a very small amount of the principal amount.
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