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In this article we're going to discourse what to make if you are the victim of credit card fraud or if you desire to make what you can to minimise the hazard of being such as a victim.

One of the best things you can make to forestall credit card fraud is electric switch to cards like the American Express Blue Card. What American Express makes it centralise its transaction confirmation and Merchant Account tracking. This do their cards much more than fraud resistant. Also, because Visa and Mastercard have got the bulk of the credit card market, this do American Express a less likely target. In most cases of American Express fraud, which are relatively rare, the clients are reimbursed immediately and without question. Also, American Express have much more than friendly client service processes for handling fraud problems. In 2002 they added what are called American Stock Exchange Private Payments, which are one clip usage disposable credit card numbers. This virtually do fraud impossible unless the card is lost or stolen. And then it is simply a matter of reporting it in time.

Another thing you can make is travel to a firm that manages refund requests. Most of these are appointed by Federal Soldier Agencies that look into fraud. These firms specialise in this type of judicial proceeding and will be most qualified to manage your ailment as quickly and as cost effectively as possible. The bulk of fraud ailments handled by these firms regulation in favour of the plaintiff.

Unfortunately there are modern times when your lone resort is to call off your credit card and change banks. Usually what haps when a card number is stolen is that the issuing bank is not able to barricade continuing transactions. In this lawsuit canceling the card won't be adequate because banks usually carry over charges from one card to another. So in order to completely make clean up your account you may have got to change banks as well. This volition all depend on how good your bank is at blocking charges, especially if your card have been widely circulated.

Another thing you can make is phone the FTC hotline number for credit card fraud. They have got been put up to deal with this problem specifically. There is also a word form that you can fill up out online to determine if you are eligible for a refund.

A problem that you may run into is that some banks will decline to reimburse charges that are over 60 years old. If this haps your lone resort is to report the bank to the Federal Soldier government and allow them manage the problem.

When looking for a new bank, or for that matter a first bank to get your first card, expression for one that have a good anti fraud record. This information is available online and through respective agencies of the FTC.

Use as few credit cards as possible. The fewer cards you utilize the less opportunity of being victim of fraud. Also seek to utilize your cards as small as possible.

Check your credit card statements carefully to make certain that there are no charges that don't belong there and petition credit reports so that you can see if there have got been any unusual activity on your account.

By doing the above things you will greatly minimise the hazard of being the victim of fraud and have the best opportunity of being refunded should a fraud occur.

You’ve probably never heard of Frank X. McNamara, but he revolutionized the way you shop on a daily basis.

One evening in 1949, McNamara—head of the Hamilton Credit Corporation in New York City—was dining out with two business associates. Their topic of discussion: one of McNamara’s clients, who was defaulting on a loan because he had shared his gasoline and department-store credit cards with some friends in need. Unfortunately, the friends didn’t have the money to pay back what they had borrowed, so the good samaritan was now facing his own financial demise.

As the meal ended, McNamara reached for his wallet so he could pick up the check. To his horror, he realized he had left it at home—and was forced to call his wife so she could bring him the cash he needed to settle the tab.

This fateful meal led to an invention that has transformed how the world handles money to this very day: the credit card. While previously available gasoline and department-store credit cards allowed users to make purchases at a single location, McNamara’s personal plight—and that of his well-meaning client—prompted him to create a credit card that could be used in multiple venues. The Diners Club card was born. In its first year, 200,000 consumers signed up for one.

The rest is history. After carefully observing Diners Club’s success, American Express and Bank Americard (soon to be renamed VISA) followed suit. Thank McNamara the next time you pay with plastic.

But has McNamara’s novel concept become more of a curse than a blessing in your life? Are your credit cards managing you—and is your debt spiraling out of control?

Here are 5 ways to tame the credit card beast.

1. Know Your Limits

If you have a tendency to overspend, limit your extravagances by relying on paper currency instead of plastic. Set spending limits before you leave the house, whether you’re shopping for groceries or heading to the mall to buy a new pair of shoes. If you find yourself reaching for your credit cards, freeze—and don’t move an inch until you can answer the following questions:

• Why am I breaking my own rule?

• Am I being self-destructive with my financial health?

• Do I really need this item, or is my ability to say “charge it!” clouding my good judgment?

2. Learn from McNamara’s Client

As McNamara’s client learned the hard way, loaning your credit cards to even those closest to you is a surefire way to accrue debt. You are giving your spouse, children, other relatives and/or friends carte blanche to spend up a storm—and you are the one who is legally obligated to pay the bills that will find their way into your mailbox at the end of the month. Be extremely selective when passing the plastic to anyone who can run up a bill—and fail to pay you back.

3. Show Interest in Interest

Surveys consistently show that most people make only the required minimum payment on their credit card bills each month, leaving them with an outstanding balance that continues to climb. Not only do additional purchases add up, but you are continually paying interest on your existing and new balances—a sometimes considerable fee that has catapulted many consumers into life-altering debt.

Today, the average American family, for example, owes approximately $8,000 on its credit cards—and the credit card companies could not be more pleased. If 115 million families owed you money—on which you earn finance charges and late fees every month—you would be positively giddy, too.

Let’s say you have an outstanding balance of $2,000 on a single credit card. Your annual interest rate is 9%, and your credit card company requires you to make a minimum $30 payment each month. Assuming you do not miss any payments (which would cause your interest rate to rise, as well as add late fees as high as $40 per month), it would take you 204 months to pay off this balance if you make only the minimum $30 payment each month—and by then, you will have paid an extra $1,028.43 in interest. This is how debt begins: A $2,000 charge winds up costing you $3,028.43.

4. Switch Cards

If you are still paying an annual fee on your credit card, it’s time to make the switch to a card that is not only free, but rewards you for using it.

Assuming you have good credit and can secure a new card, explore your options. Banks offer cards that award cash-back bonuses, airline miles, gasoline rebates and other perks each time you use them. If you can manage your credit appropriately, keep pace with payments and pay your bills on time, you may as well reap the benefits of your spending habits.

5. Read Your Statements—Carefully
Some consumers pay their credit card bills without carefully reviewing their statements. This is one of the most serious mistakes you can make—especially in an age of identity theft, when someone can use your card to make purchases in your name.

Always keep your credit card receipts, and check them against the bill when it arrives each month. Make sure every charge is accurate, and notify your credit card company immediately if there are any charges you did not make. The company can reverse the charge if it is a simple error—or if someone has used your card without authorization. In the latter case, ask the company to cancel the card, review any additional purchases made since that date and issue a new card with enhanced security features, such as a personal identification number (PIN), to be entered each time the card is used.

In addition, check due dates on credit card bills. You may be used to paying your bill by the 20th of each month, but credit card companies have been shortening the length of time consumers have to pay their balances. Very often, there is no notification of a policy change—or the fine print is buried somewhere on your statement. Note the payment due date each month, and try to pay the full amount to avoid accruing interest or late fees.

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Some banks are eliminating the standard 25 or 30-day grace period within which you may pay your bill within being charged interest. This is the normal grace period before interest kicks in. But this is slowly changing. For example, some banks are offering extremely low fixed rates, but without a grace period. These cards will charge you interest from the date it processes your charge slip.

If you usally pay your bills in full within the normal grace period, it is best you avoid no-grace-period cards. The 25 or 30-day garce period is more financially significant for you than a lower interest rate. However, if you carry a balance each month, you're better off with a lower interest rate. In this case, a lower interest rate can save you more money than a grace period would.

Most banks and thrifts charge interest from the day they process your charge slip when you use your card to get cash. In addition to this, some cards are now assessing cash advanced service charges based on a percentage of the amount received. It used to be that service charges were based on a fixed fee, regardless of the amount of transaction.

If you avoid interest charges by paying off your bill each month, seek out a card that offer very low interest rates plus a grace period on purchases. Some institutions periodically offer cards with no fee for the first year as a promotion.

Don't be lulled into getting "premium" credit cards such as "goldcards" and Premier VISA. The only significant premium with these cards is the extra amount you pay in higher annual service fees. Besides the fancy finish of the card, the only other benefits you get with premium cards are travel insurance and the extra protection if your card is lost or stolen. Since by law, you are only liable for up to $50 if your regular credit cards are lost or stolen, the zero liability you are getting from premium cards is hardly worth the extra money.

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IMPROVING YOUR CREDIT BY PAYING BILLS LATER,
RATHER THAN SOONER!
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Every business will get to the point where suppliers will offer terms on bills, rather than requiring payment up front or on delivery. Their bills will probably be marked "2/10, net 30." This means you get a 2% discount if you pay within 10 days, and the bill is due within 30 days. Many business owners will jump at the opportunity to save the 2% by paying early, and rightfully so. However, believe it or not, they can help their credit rating by paying at the end of 30 days.

How is this so?

It's all a matter of your business' CREDIT HISTORY. All of the companies who offer you terms will be reporting your history to various credit bureaus. These bureaus are who gets consulted by banks when they decide whether or not to give you a loan.

By always taking advantage of the 2% discount, a business establishes a paying pattern. Thus, if you've been paying a company's bills in 5 days for the past year, this is what they will expect from forthcoming bills.

Now, say one month has a tighter cash flow than normal, and you must take 20 days to pay that bill. This sends up a red flag for the billing company. You normally pay in 5 days, why are you now paying in 20? Even though you paid the bill well within the deadline, you have given a sign that you had a cash flow problem. This uneven paying pattern can show up on your credit rating. Even though all your bills are paid on time, an uneven paying pattern and jeopardize your future chances for more and larger credit limits.

Now, if you always pay your bills on the 25th day of the due period, even when you can pay them early, that cash poor month won't look any different to the billing company. Most companies would rather grant terms to a company that always pays on the 25th day, than one that sometimes pays early, sometimes pays later, as this reflects an image of disorganization and uneven cash flow.

Also, always paying toward the end of the due period will aid your cash flow. If you pay your bills consistently, at the same time every month, you will not be surprised by a sudden cash shortage.

For example, say you decide to pay a bill early one month.

Then, the next week, your main supplier calls to tell you about a closeout deal he has that would double your profits.

Only problem is he can't offer terms, it has to be cash.

Because you paid that bill early, you can't take advantage of the special deal. If you would have waited to pay it, your cash flow would have allowed the purchase, and the resulting higher profit margin would have yielded the cash to pay the bill.

So, you see, paying bills later, and not taking advantage of any early payment discounts, CAN work to your advantage. You need to consider your future plans and decide if saving 2% now is really worth it.

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WOMEN AND CREDIT
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Many women complain about not having any credit. Those complaining are those who REALIZE that they do not have credit, single women or divorced women, specifically.

However, there are many married women who have no credit because financial matters are handled by their husbands, and they are not even aware that they are without any type of credit rating. This is a large problem in Britain today.

Divorce seems to be the predicament that taunts women in search of their own good credit ratings. Either the wife did not have any of her own credit during the marriage, or the credit she shared with her husband took a bad turn during the divorce.

The key to your credit success, regardless of your marital success, is that you build your own "sole and separate" credit. There are many benefits to be gained.

First, in the event that the marraige does not work out, each spouse may part with their own credit. If the wife was always on time with her payments and the husband was poor with his payment schedule, they should be able to part ways with her credit intact.

Another good reason to have separate credit is in the event a financial tragedy comes your way, leaving you with no alternative but to file banckruptcy. It might be possible that one partner could file while the other remains clear.

If your husband currently has all the credit, have him place you on his accounts as a "sharer" of the account.

You want to be sure you share the account but not the contractual liability. This way you will NOT be responsible for his errors. If it does show as a negative on your rating, you will be able to dispute it as you did only share the account.

If the account is in good standing, work on getting it on your credit rating as you may take the responsibility for the good rating.

For men in similar situations, try the same method.

If neither the wife or the husband have any credit, then both would sign the account as "joint" in privileges and contractual liability. Continue this process until you both have enough credit to get credit singularly. Then, as your new sole and separate accounts begin to get established, start closing the joint accounts you once shared. The purpose of this is to establish your credit as "sole and separate".

Consider also the use of a joint checking account. A clean checking history is very helpful in building credit, however, be wary if your spouse is particularly neglectful when maintaining a checking account-the end result could cause more harm than good.

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AND IF SOMEBODY OWES YOU MONEY...
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If you are owed money and have not received any payment over a reasonable period of time, there are several steps you can take to collect, even before going to the expense of hiring a collection agency or lawyer.

While making these moves, you can collect evidence in case it becomes necessary to take the matter to court.

>> CALL THE DEBTOR

This method, handled properly, can have surprisingly successful results. For best results, have another person of the line to witness the conversation. In case the debtor denies the call, you have a witness who can testify otherwise.

>> WRITE THE DEBTOR

Write a letter that confirms and reviews all the pertinent points of the telephone conversation. The goal is to make your letter clear enough to make it stick in court.

>> IF THE DEBTOR IS A BUSINESS

File a complaint with the BBB or the trade organization in which the debtor is a member. Make sure you stick to the facts in order to avoid being sued for libel.

Before you hotfoot out to happen a card that tantrums your personality, you first need to determine which types of credit cards you may measure up for.

To assist you understand what cards you may measure up for, here's a guideline:

You may only measure up for secured cards or guaranteed approval shopping cards if any of the following apply to you:

- You have got got got got got got got got got got got got got got got got bankruptcy on your credit report
- You have been rejected repeatedly for credit in the past 12 months
- You are in a low income bracket
- You have high debt that absorbs most of your income
- You don't have any good credit references
- In the past 12 calendar calendar calendar calendar months you were late paying major bills, such as as mortgage/rent,
utilities, or were late making payments on existing credit
- You have a low credit score

You may measure up for a low unsecured credit bounds credit card if:

- You've only been late once or twice paying major measures in the past 12 months
- You have at least one good credit reference
- You have at least average income
- You make not have debt that absorbs most of your income
- You make not have bankruptcy on your credit report
- You have a just credit score

You may measure up for a high unsecured credit bounds credit card if:

- You have never been late paying major measures in the past 12 months
- You have at least three good credit references
- You have above average income
- Your debt makes not absorb most of your income
- You make not have bankruptcy on your credit report
- You have an above average credit score

If you aren't certain of your credit score, you should tell a credit report or you can utilize the estimated prequalification usher at
www.creditfederal.com/credit-loan-prequalification.html

Now that you have an thought of what types of credit cards you may measure up for, you can get your search to happen your personality card. Listed below are illustrations of these types of credit cards:

Airline Miles Credit Card - this card is perfect for anyone who travels frequently. In improver to awarding frequent circular miles to the user, this card can also offer price reductions on airfare at participating airlines, such as as Southwest.

Cash Back Credit Card - this type of card is ideal for people who rarely utilize cash when making purchases. By making purchases with the card, users can earn cash back based upon a percentage of their charges. Some issuers seamster the card to the user's personality, by allowing a higher cash back percentage on charges
they most frequently make. For example; if the user mostly do charges at a grocery shop store, the issuer credits a higher cash back percentage for those purchases. Other issuers may offer higher cash back percentages for purchases made at participating retailers, such as as Home Terminal or Sears.

Business Credit Card - these are not only for large businesses, now even small businesses can get this type of credit card, and can get separate cards for employees who do purchases on behalf of the company. Again, some business credit card issuers will dulcify the offer by awarding price reductions for purchases
made at participating retailers, such as as Office Depot, or will present cash back percentages.

Retail Credit Card - if a individual utilizes a credit card only at one peculiar store, a retail credit card can offer price reductions on purchases. Examples of this type of card are: Sears Card, JC Penney Card, Wal Mart etc. Regarding the Wal Mart Card, users can get price reductions on Wal Mart gasoline purchases, which is
quite good during current high gas prices.

Shopping Credit Card - typically known as Catalog or Merchant credit cards, these allow even bad credit people to obtain an unsecured line of credit. Purchases are restricted to a certain merchant or a specified catalog, but nonetheless offer the ability to do purchases on credit. For people with very
bad credit, this is an first-class manner to obtain credit. Just be certain to utilize a card that reports your timely payments to a major credit agency so you can construct your credit.

Other Rewards Credit Cards - you can happen cards that offer a assortment of price reductions and free services, such as as free music downloads, free wayside assistance, as well as protection against identity theft.

For nearly every individual personality and credit rating, their is a credit card issuer who desires you to go their customer. Be certain to read all the Terms and Conditions, so you cognize exactly what you will get before you apply.

Well, you don’t really need to look into the teen credit card debt statistics to state what’s going on. The teen credit card debt statistics would probably look very similar to any other. I believe I read somewhere about adolescent credit card debt statistics and those teen credit card debt statistics indicated that a batch of teens in United States had a important amount of balance on their credit cards; something which they shouldn’t have got (considering their limited needs for credit). Though these adolescent credit card debt statistics would give you a just thought of how our teens are faring in the human race of credit cards it’s really not so of import to speak about adolescent credit card debt statistics as it is to speak about the ways of bettering the adolescent credit card debt statistics (I intend bettering the teen credit card debt statistics in a positive way).

So how make you better teen credit card debt statistics?

Well, the bettering of teen credit card debt statistics would, as you must have got guessed, start with education. This instruction have to begin early in the life of the teens. Here we are not talking about just credit cards related instruction but the instruction about managing their finances in general. Adolescent credit card debt statistics cannot be improved without explaining the existent value of money to the teens (and also teaching them how to utilize it). So, for bettering teen credit card debt statistics, we need to give them an all unit of ammunition instruction on managing money and finances. This tin start with asking them to keep a record of their pocket money and how they pass them. Also, engage them into instruction related to money management (of course, you have got to customize the treatment to lawsuit their degree of knowledge and maturity). The adjacent measure would be to open up a bank account for them and learn them the assorted facets of managing it. Teach them what debt it and when it is considered bad. Debit card could be the adjacent measure for them. Once they begin becoming comfy with doing their bank transactions by themselves, you can get a prepaid credit card for them (something that have a predetermined bounds of $200-250). You could also utilize a low bounds credit card (with $250 credit limit) and learn them how to utilize it.

Thus you can follow a step-by-step attack to guarantee that your teens learn the best patterns (and hence you can maintain them out of those atrocious teen credit card debt statistics, thereby contributing to bettering the teen credit card debt statistics).

Here are some utile credit card tips for you to see before applying for a credit card. Before applying for a credit card, you should do up one's mind why you desire one, and make certain you can utilize it wisely.

More and more than people utilize plastic as their chief agency of paying for commodity and services. Today our full financial system trusts on credit. Credit cards can assist to do your life that small spot easier- you can utilize it to pay for commodity or services, either over the phone, online or over the counter.

A credit card do it easy to purchase something now and pay for it later. It's much safer to utilize a credit card than to carry around cash. If you lose your credit card, you can inquire your credit card company to call off your card, and no 1 else can utilize it. But if you lose cash, your money is lost.

Credit cards are also convenient. You can utilize them to do hotel, car rental and other reservations. You can purchase points over the phone or online. You can also utilize credit cards for emergencies, like unexpected car repairs, when you don't have got got the cash to cover the expenses.

A credit card allows the cardholder to borrow as much money (up to their credit limit) as they like, when and where they like, without having to get permission from their bank manager.

All credit cards have finance charges for not paying your balance in full each month, but you could salvage a batch of money by shopping around for the credit card that offers you the best terms.

Shop for a card with an interest free clip period that gives you enough clip to pay your measures on time without charging you interest. Credit cards with no interest free time period start charging you fees as soon as you purchase something on your credit card.

Finally, using a credit card gives you a credit history, which assists to get home loans and other credit in the future.

You may freely reissue this article provided the author's life stays intact:

A word of warning about Credit card repayment protection schemes

The people who sell you the policy and who take out your monthly payment for ‘card protection’ are not always (in fact, often aren’t) the people who you will be dealing with in the event of a claim.

So be careful.

I took out my credit card protection screen last November (2004). I merrily watched the monthly payments being taken up to date. I recently made a claim. ) I had a bosom attack and had to be off work for 8 weeks) I sent off for the claim forms, I sent them back, together with doctor’s certificate; and waited. I eventually got a petition from the insurance company request me to turn out that I was in work for the 6 calendar months prior to taking out the insurance. What??? You may ask! Why? Well Iodine called them and asked them – Why? The reply was that it was a ‘condition of the policy’ that I had to have got been in employment for the six calendar months up to the clip I took out the policy. ‘Why was ~I not asked for this information when Iodine took out the policy? I asked. The answer: ‘You volition have got to inquire your credit card company that, we just manage the claims. No amount of indignance of questioning got me a reasonable response. I set the phone down in disgust. After all, My monthly payments were accepted with no quiddity at all. Cipher asked me if Iodine was in employment for the preceding six calendar months when Iodine signed on the dotted line for ‘payment protection’.

I decided to name the credit card company and all I got was an automated machine request me for my sixteen-digit account number … holmium hum. Been here before when I was trying to get them to direct me out the claim form. I set the phone down.

Be warned. All is not what it looks to be. These cats will fall over themselves to sell you the payment protection. But you wait until you need to claim on it. It’s A different narrative then.

Don’t state I didn’t state you …

Everyone has different needs when it comes to choosing a credit card. If you pay off your monthly bill in full on a regular basis, for instance, you’ll want a different kind of credit card than someone who keeps a balance every month. Or, if you collect some sort of points, you may want a card that helps you gather more, faster, with every purchase. This article will discuss the different things to think about when trying to decide which credit card to apply for.

Choosing a Credit Card: Fees
One of the most important and first thought of issues with getting a credit card is fees. Fees can include not only the annual fee, but the interest rate charged on any balance you carry, any late fees, and ‘other’ fees that a credit card company may charge.

If you are able to pay your full balance every month (as is highly recommended by the experts), you’ll be better off with a no annual fee card. However, if you are like most people, and plan on carrying a monthly balance, instead you’ll want to look for a card that offers an extended low interest rate. Also, find out how long the low interest rate is valid for; many of these credit card rates are merely teasers, and expire after a couple of months.

It’s very important while comparing credit card companies that you look closely at how interest is charged, not just the rate it’s charged at. For instance, it’s a big financial difference if interest is charged on the average daily balance of the last month, than if it’s charged daily based on the going interest rate. Read the fine print here, since it’ll pay off in spades, later. And don’t forget the fine print with the ‘other’ fees – these can add up quickly. Does the credit card company charge when you take a cash advance, for instance?

Choosing a Credit Card: Acceptance
Where your potential credit card is accepted can make a world of difference when shopping around. If you travel extensively, then this is of the utmost importance – maybe even more important than fees, because if you can’t use your card, what’s the point in having it? Mastercard and Visa are the most widely known credit cards at the moment in North America, with American Express a distant third. Any others you’ll want to do some heavy research on to make sure where you want to use it, you can.

Choosing a Credit Card: Perks
Frequent flyer points and bonuses at local stores are both regular perks available with many credit cards today. If these options are important to you, make sure to research their dollar value in reference to the other bits and pieces as well, and compare them alongside each other.

Choosing a Credit Card: Credit Limit
Finally, your credit limit is something to look at when deciding on a card. Usually this step is easy, because it is decided by the credit card company, and not yourself. Just make sure that you aren’t getting too high of a limit, because as you well know, it’s difficult to dig your way out of too much debt.