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There are many things that you should know about credit cards before applying for one. For example, not all credit cards are the same. Some credit cards are secured and some are not secured. In addition to this difference, there are usually “hidden” provisions in a credit card agreement that most people neglect to read. Such provisions include the differences between the interest rate for a purchase and a cash advance, and whether or not the credit card company from which you obtained a credit card engages in the practice of universal default.

A secured credit card is a credit card that is that is tied to a monetary fund of some kind (whether it is a deposit, bank account, or some other account). The monetary fund can be accessed and used by the credit card company in the event that the credit card holder defaults on a payment. These kinds of credit cards usually have an obscenely high interest rate and an inordinate amount of fees. Basically, they are terrible credit cards that target people with bad credit.

As an alternative to getting a secured credit card, you should look at non-major credit cards. These types of credit cards include credit cards from various retail stores, department stores, and even gasoline cards. These cards usually have a high interest rate, however, the usually have no fees attached to them as secured credit cards do. Additionally, these “non-major” credit cards are unsecured, therefore, you do not have to put up a big deposit or tie the credit card to a bank account. It is easy to qualify for non-major credit cards, and thus, they provide an attractive alternative to secured credit cards should your credit be bad.

In regard to the different interest rates for purchase and cash advances, if you look at your credit card statement, you will see a section that shows you your interest rate. There are usually two interest rates shown: (1) your purchases interest rate; and (2) your cash advance interest rate. I can almost guarantee that the cash advance interest rate will be several points higher than your purchases interest rate. For example, you regular purchases interest rate may be 12.95% while you cash advance interest rate may be 19.95%. Why the big difference? This difference exists because your monthly payments will not count towards your cash advance balance until you fully pay off your regular purchases balance. Therefore, the credit card company will be able to charge you a higher interest rate while you are paying off your primary debt.

Universal default is a credit practice where you will be in default on one card because you are in default on another unrelated credit account. For example, let us pretend you have two completely unrelated credit cards; Credit Card A and Credit Card B. Further, let us pretend that Credit Card B has a universal default provision in the credit card agreement. Now, pretend that you are late or default on a payment to Credit Card A. The credit card company that gave you Credit Card B can now put Credit Card B into default even if you have never missed nor been late on a payment to Credit Card B.

The effect of this is that it is possible for you to be charged a credit default fee for Credit Card B (even though you have never missed nor been late on a payment to Credit Card B) and that another negative impact will occur on your credit report.

These are just a couple of credit card facts of which you need to be aware before you obtain a credit card.

Michael, 25 years old and working in United States for past one year was on the verge of going bald from trying to figure out the best credit card among the tons of emails that he received almost daily about the “pre approved credit cards”. Chances are that you too maybe going through the same dilemma of choosing the right credit card. As choosing the right credit card is not such an easy task as it looks at the first go, it becomes essential that you know some of the important points before you eventually purchase the best credit card for yourself.

Most of the credit cards, which call themselves as the best credit cards, come with almost the same features, offering more or less the same rate of interest. In such a case, getting the best credit card becomes even more of an ordeal for the buyer. However when the rate of interest is more or less the same, one should look for incentives offered by the various card companies in order to get the best credit card. Incentives and rewards can be of various kinds; depending on them you can opt for the best credit card. For instance you get reward points for every purchase that you make from the credit card and these points are redeemable from certain stores and outlets.

There are three main categories of cards: secured, regular and reward or rebate. Where you fall on the scale depends upon your credit history. If you’re in the process of trying to rebuild your credit, a secured card can help you achieve that. The other categories are differentiated by the types of services they afford. While reward cards generally have great perks, the higher interest rates that they normally charge can be costly if you do not pay your balance in full every month.

Then there are cash back incentives. This definitely is a strong criterion for the best credit card. According to this scheme, you get a percentage of cash back at every purchase that you make. You can also convert your redeemable points into discount for various airline flights. Most of the buyers make the mistake of thinking that the reward schemes are mostly similar whereas the difference in schemes offered by different card companies is extensive. So first of all do your research about different reward schemes and then choose the best credit card.

Nowadays banks have started offering balance transfer credit cards, which are becoming increasingly popular for people deciding on the best credit card for them. Balance transfer cards allow you to consolidate you debt onto one card, thus helping you save on interest payment, hence recommended by experts as the best credit card for debtors.

Getting the best credit card wouldn’t be a difficult task when loaded with the right information. So research about the incentives and other schemes and then only go for choosing the right credit card. It might take a little time but at least you can be sure that it’s the best credit card.

High interest rates on a credit card can prolong your payments and thus, cause you to pay far more interest than you should have to. High interest rate credit cards are a sign that your credit score is not good. Think about it; why would you get a high interest credit card if somebody offered you a lower interest card? Some people think that rewards points or other types of reward programs are worth the high interest rate. This is a bad way to think because even though you may get some type of reward, it will not offset the extra interest that you have paid on such a card.

Many people have a high interest card for two reasons: (1) they have had the card since they were 18 or since they were in college and thus, the interest rate is high because at that time, that person was just starting to establish his/her credit; or (2) they did not know any better and got a high interest rate card because they were not educated as to issues of credit. Both of these situations can be remedied and thus, should you have a high interest credit card, you can get a lower rate.

It is important to note that even though a high interest credit card can cost you a lot of money by way of interest, you should not close a credit account merely because the interest rate is high. Closing a credit account will negatively affect your credit score, but a high interest rate will not. Therefore, you should not close a credit account simply because the interest rate on such a card is high.

The easiest way to obtain a lower interest rate on a credit card is by having another credit offer available. These are not hard to obtain because it could be something that you get in the mail or it could be an application that you get from your bank. The point is, regardless of whether or not you actually intend to submit an application for that other card, you have to have an offer on the table. This offer is what you will use as leverage against you current credit card company.

Once you have this offer, you should call your current credit card company and ask for a lower interest rate. Sometimes, this is all you need to do. However, most of the time, a credit card company will not lower your interest rate. This is when you have to let them now that you have and offer from another credit card company, and it is offering you a better rate. Additionally, you need to tell your current company that if they cannot match this new offer, you will have no reason to use their services anymore. Usually, this will be enough for your credit card company to lower your interest rate. If, however, they are still reluctant in lowering your rate, stop using the credit card and apply for the card with the lower interest rate.

Call your company, request a lower rate, present the fact that you have a better offer, and, if all else fails, stop using the card and obtain a lower interest credit card.

Millions of people have trouble with their credit each year. From late payments to bankruptcies, families and single individuals work to overcome their poor credit histories and find a way to get along in this world of fast cash and credit card payments. So if you have poor credit or no credit at all, how do you get a credit card? Well, poor credit and no credit are different, but the methods for finding a credit card are very similar. So let’s go over a few here:

· Check your mailbox. Unless you have opted out of pre-screened credit offers, you should get a few in the mail. Read the fine print and see if any of these offers suit your needs.

· Search online. The World Wide Web is an endless resource for credit card possibilities. You can use search terms like “no credit credit cards,” “poor credit credit cards,” and “secured credit cards.” You will get a list of results that is longer than you need.

· Ask your bank. Many banks these days offer secured credit cards for people with poor or no credit. A secured credit card is simply a card that is set up after you make an initial deposit to your credit account. Usually, this amount is between two and five hundred dollars. After your deposit is made, you will have a line of credit up to the amount of you deposit, depending on the financial institution’s regulations. Use your card as you would any credit card, and after a year, you may qualify for a standard credit card that is unsecured.

· Check out college bookstores. Believe it or not, these are great places to find random offers for no credit credit cards. Companies want to appeal to students, who have little or no credit, by offering credit cards for an annual fee. You can ask for any brochures the bookstore includes in bags at the point of purchase.

· Get referrals from people you know. If you have a friend that has overcome bad credit or has built their credit from scratch, ask them how they did it.

With so many scams out there and businesses trying to pull the wool over consumer’s eyes, it seems impossible to believe that a credit card would really offer to pay 5% cash back just for making purchases with the card. Nonetheless, it is true. Several of the best cash back credit cards are really giving their customers 5% cash back rewards – and you just might be able to take advantage of these special deals.

Beating the Competition

With so many credit cards out there, credit card companies are in a bind to find a way to draw more customers in. One of the answers they have come up with is to offer cash back credit cards. With these credit cards, you earn money back for every purchase you make. As cash back credit cards rise in popularity, credit card companies are once again at the drawing table looking for a way to bring customers their way. All of this fierce battling is perfect for the consumer, who can take advantage of the resulting deals.

One of these great deals is the increase in credit card companies willing to provide cardholders with 5% cash back. In addition, this cash back reward is earned from making everyday purchases, such as those made at drugstores, gas stations, and grocery stores. These cards also offer 1% cash back on all other purchases.

Finding a 5% Cash Back Credit Card

The best cash back credit cards provide the 5% cash back reward. Some credit cards offering this special deal are Citi Dividend Platinum Select MasterCard and the Blue Cash Card from American Express. Whether you are an individual or a small business, you can find a great cash back credit card. The Advanta Platinum with Rewards and American Express OPEN: The Small Business Network are two great cash back credit cards for business owners.

The Downside

There is one downside to the 5% cash back bonus offered by certain cash back credit cards. Certain major stores, such as Sam’s Club and Wal-Mart, do not earn the 5% rebate. This is not because the credit card company has excluded them. Rather, it is because these stores have not coded their items as grocery, gas, or pharmacy. Therefore, the credit card company has no way to properly track the items. Therefore, you will need to go to major drug stores, grocery stores, and gas stations to take advantage of the special 5% incentive. Otherwise, you will only earn 1% cash back.

The Mindset of the Credit Card Company

Credit card companies are able to offer the great incentives of these cash back credit cards for many reasons. First of all, they are willing to pay out a little extra in order to grab a larger portion of the consumer market. Secondly, American spending habits have traditionally been to use a check or cash for everyday necessities, such as food, health, and home purchases. Therefore, they are counting on you setting the plastic aside when you visit drug stores, gas stations, and grocery stores.

The trend for credit card usage is, however, changing. More and more, consumers are using their credit cards for everyday purchases. Retailers are assisting in this trend by providing incentives for using credit cards, such as fast moving self-service aisles that accept only credit cards. So, if you are able to pay your credit card balance at the end of the month and if you make sure to use your cash back credit card for all of your purchases, particularly the everyday ones, you will be sure to start earning money back in no time!

News reports say this long weekend will be the heaviest-traveled Thanksgiving in US history. An expected 39 million Americans are hitting the road and flying the friendly skies. The situation can get so busy that gas station owners may be forced to stop raising prices just to handle the extra business. And airline security guards will be forced to grab and grope passengers a little faster to keep the lines moving.

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Hope you’re having a Happy Thanksgiving, and after that humungous dinner, happily sitting around the TV watching football games and the Macy’s parade. That is, if you can see over your bulging belly.

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Ex-con Paris Hilton, now reformed and a volunteer social worker, was asked to visit children in Africa for the holidays. She bravely declared she’s not just going to Africa, but also intends to go to the Pirates of the Caribbean and visit children in other parts of Disneyland, too.

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The TV and movie writers’ strike is becoming more widespread. New York theater workers walked out several days ago, and CBS news writers quit working, too. Thanksgiving was very tough on Katie Couric, Diane Sawyer, Meredith Viera and other anchors. After their Thanksgiving dinner and they needed to burp, no one was there to write it for them.

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Just in time for the holiday season, Japanese scientists have built a little boy robot that reasons, walks, talks and can identify voices and faces? Soon, every family can have one, but they should hope boy robot never grows up. As a teenager, he could get the vacuum cleaner pregnant.

As its name would suggest a college credit card is simply a credit card which has been specifically designed for college students and which is perhaps more commonly known as a student credit card. The idea behind student credit cards is that they allow students to learn all about credit cards and to experience the benefits of credit cards early in their lives. In effect, a college credit card is an introduction to the world of credit cards and, although s student may have had experience of using a supplemental card on a parent’s credit card account, represents the first credit card which the student will have in his own right.

To all intent and purpose college credit cards operate in exactly the same way as normal credit cards but there are a few differences which you need to know about. These differences arise because the credit card companies are taking something of a risk by extending credit to people who will generally not have any credit history and thus need to protect themselves from the increased risk of debt on student credit cards.

The first important difference is that the credit card companies require a parent or guardian to co-sign the student’s application for a card, so that the parent or guardian is aware that the student is applying for a line of credit, and will also require the parent or guardian to stand as guarantor for the account. In other words, if the student defaults on the card then the parent or guardian will be legally liable to make good on the debt.

The second difference with a student credit card is that the credit limit is set at a lower level than that seen on normal credit cards and typically at between $500 and $1,000. This limit is also set at a reasonably low level because this is considered to be sufficient to meet the needs of the vast majority of college students.

Finally, the credit card companies also offset their risk by setting the interest rates on college credit cards (the card’s APR) higher than normal to try to stop students from overspending on their cards and to encourage them to keep their spending within the amount which they can afford to pay off each month.

On the surface college credit cards may not seem very attractive to those of us who are used to using normal credit cards but in fact they can be a very useful tool for teaching youngsters to handle credit responsibly and have the added benefit of providing students with the ability to build up a good credit record, which they will find very useful once they leave college.

College is a very expensive time for most students and there are very few students who will make it through college without a mix of parental support, grants and scholarships, federal loans, private loans and a part-time job. This is hard enough in itself to manage and all too many students have problems coping with this and end up having to refinance their loans, often through student loan consolidation. If we now add a credit card into the equation we might just be providing the straw that breaks the camel’s back for some students.

Whether or not college credit cards are a truly good idea or simply another marketing ploy by the credit card companies is something which you must judge for yourself but, whatever your view, they are certainly something which must be approached with both eyes open.

Have you ever lost or had your credit card stolen? It can be a scary experience for anyone. You could be stressed about the fact that someone else might have your card and were using it for their own personal use. You would probably worry about the fact that your credit was being ruined. But do not worry, there are somethings that you could do if you do lose or have you credit card stolen and they are to:

Report the loss or theft of the credit card to the credit card company as soon as you learn of the loss.

Call the 24 hour toll-free number to report the loss or theft of the credit card to the credit card company.

You should follow up your call with a letter to the credit card company. Be sure to include the account number of the credit card, the date you first notice the credit card was missing, and the date you first reported the loss or theft of the credit card.

You should then check your home owner’s insurance policy to see if it covers your liability for the loss or theft of the credit card. If not, some insurance companies will allow you to change the policy to include this protection.

After you have done all of this you should then:

Review your credit card billing statements carefully for any unauthorized charges.

If your statements reflect any unauthorized charges it is best to report the charges to the credit card company by sending them a letter listing any questionable charges you have found.

Once again you should include your account number, report the exact date and time you notice your credit card was lost or stolen, or when you first noticed the unauthorized charges and also note when you first reported the problems to the credit card company.

Be sure you report to the address provided for billing errors on your credit card statement.

Do not send the letter with any sort of payment or to the address you normally send the credit card payments to unless you are directed to do so.

Most state laws say that you will be charged only fifty dollars for unauthorized use of your credit card provided that you reported the loss or theft before the credit card was used.

The Fair Credit Billing Act or FCBA states that the credit card company can not hold you responsible for any unauthorized charges.

So if you have ever lost or had your credit card stolen you should have followed these things to correct the problem. If you ever lose your credit card or if your credit card is ever stolen you should first report it and then go on from there. If you do not know what to do then you should call the credit card company to ask if you need help or have any questions. If you do this then you can keep the experience from becoming too stressful and you could keep yourself from becoming too obsessed with the whole situation.

You may decide to consolidate credit card debt for a number of reasons. No matter what the reason, getting control of your credit card debt is one of the biggest steps toward financial freedom anyone can take. Take control of your credit card debt and you will be taking control of your future.

If you or your spouse have lost your job and your monthly credit card payments is more than your monthly income, you definitely need to seek credit card debt help. There are many credit card debt management companies out there who can assist you in negotiating with big credit card companies.

On the other hand if you have the desire to get your finances under control and have decided to eliminate credit card debt, there are ways to do this through credit card debt consolidation.

First you will want to look at the interest rates and balances of all of your credit cards. If you have a lot of credit card debt, you may choose to make a spreadsheet.

You probably receive balance transfer offers in the mail or included with your statements of your current credit cards. Balance transfers can be a great way to save on interest and consolidate credit card debt, but keep in mind there are a few tricks to understanding how they work and follow the guidelines in order for them to be an advantage.

One thing some people need to realize is the balance you transfer may be getting paid down first. So if you transfer a balance to a credit card that already has a balance your payment may go tot he lower interest earning portion of your balance instead of to the previous higher interest earning balance of your debt.

Also, keep in mind, when you transfer a balance the low interest rate is usually only an introductory rate with an expiration period.

The best idea is to transfer your balance to a new credit card with zero percent interest for the longest period of time. You will also want to make sure you are able to payoff this balance in a time period shorter than that specified in the introductory period. This will allow you a cushion in case unexpected expenses should arrive. You will also want to be sure you can make the payment on time. In most instances if you default on your payment the introductory rate disappears and goes to a much higher interest rate.

Another thing to keep in mind when consolidating credit card debt is annual fees. Any credit cards that have annual fees should be paid off first along with the ones with higher interest rates.

Once you get your first credit card paid off it will become almost like an addiction. And what a great addiction to have! Sooner or later you’ll probably even be finding yourself trying to pay off other types of debt like big ticket items. You may even eventually find yourself debt free!

Flim Flam, bunco, con job and scam after scam make up a portion of the fraud world. From the high-tech computer hacker to the not so high-tech shoplifter, all of these people have one thing in common, commit fraud against a business and profit more money or goods than the scheme before.

There are criminals sitting at keyboards doing their best to take money away from businesses right now. There are also people in the parking lots of the brick and mortar stores getting their devices and techniques ready for a big score.

Digital Surveillance systems, uniformed security personnel and high-tech experts are the only way to go in today’s modern world but the more elaborate the security system and the more IT people you have to employ, the higher the costs that figure into the price of the finished product. In other words the cost of security gets passed onto the consumer.

How do we then combat the fraud and keep costs low doing it? The first task will be to totally review the security features you now employ. Any size business from the small corner newspaper stand to the large department store or factory the need to replace analog recorders with up-to-date digital systems is the most crucial step. If I were to suggest spending money on just one item that would be it.

The next threat level that has to be addresses if applicable would be your internet based money makers. If your store or plant is connected to the web and business is being conducted 24 hours a day, someone has to be watching the store. You will need at the very least to hire a professional who can advise you on software and security systems within your dot-com business that can monitor the “store” around the clock. Let them set you up and occasionally check out your site for any breaches. If it’s financially possible every business could use an I.T. person on staff who has the qualifications to do this.

Unfortunately fraud is not given the same level of importance as crimes against persons. Most business owners are very aware of the frustrations that go into prosecuting a case once a criminal has been apprehended committing fraud. Courts are overburdend and therefore shoplifters, price tag switchers and the like are treated with indifference. They are the cases to be plead out so the docket can move along. What we can do here is make the public aware that fraud is a big contributor to the costs of our products. Public support is a powerful entity and will be more willing when enough people realize that when other people steal it effects us all.

The Federal Government has made public announcements from time to time on the dangers of identity theft and the dot GOV websites have information about fraud and where to report it. This is a step in the right direction but more informative outlets are needed on the local levels. Call your local police or prosecutor’s office and find out what programs or information about fraud is available for your business to participate in.