Women’s Credit Card – How To Be One Step Ahead Of Credit Card Companies

Women’s Credit Card – Compare Women’s Credit Card and find out what is low APR and balance transfer credit cards.

Have you ever wondered why you get credit card offers in mail when you have not even made a request for it. If your name and address is in public information system than by now you must have received many credit cards offers. Each giving better offer than other competing credit card company.

With so much information to process will lead to confusion and wrong acceptance of credit cards. Choosing a right credit card is a daunting job, it needs careful analysis and close scrutiny of fine points written in small fonts. Special attention should be given to credit card rates, when new higher rates will apply. Give importance to reading terms and conditions of credit cards. You will get new understanding of how credit cards work. Before you start applying credit cards you need to know few important terms used in credit card. By knowing these terms will help you applying for a correct credit card.

Credit Cards

As you know small plastic card known as credit card is in dimension of 85.60 X 53.98 mm. As the name suggest you get moneyon credit or you buy things in market on credit. The credit card differs from Debit card because when you make purchase by using your credit card it doesn’t remove money from your bank account. where as when you do purchase using Debit card it removes money from your bank account after every transaction you make.

When you make transaction using credit card the credit card company lends money to merchant where you did shopping. Usually you get one billing cycle money on credit without any interest being charged to you.

All is required from you is to pay full balance before due date to avoid interest charges. In case you have made big purchase which you can pay in full in one month, try paying off balance as soon you can to avoid more interest charges. In case you are not able to pay money back to credit card company please ensure you pay at least minimum balance required by due date. Usually this amount is little and it helps you to keep your account in good standing. Ideally this option should be avoided as it will pile interest amount on your borrowed amount and in no time your borrowed money will start swelling.

Credit card company issues credit card to user after his/her request for application has been approved.

Every credit card company will set credit limit for each customer based on his/her credit strength
The credit card user will make purchases by using issued credit card.

The credit card on average is in dimension of 85.60 x 53.98 mm

Every credit card has number written on it by which your account is identified.

Some of the known credit card companies: Chase – Bank of America – Citigroup – Wells Fargo – American express – discover etc. Practically every major bank issues its credit card to users.

When you make purchase at any merchant you sign a small receipt acknowledging you will pay same amount to your credit card company.

Few of the transactions can be done over phone, such as airlines and hotel booking, by giving your credit card number and expiration date etc. Please be care full when making such transactions. Ensure you do such transactions with trusted parties.

Almost all merchants or store owners have credit card verification system, while you swipe your card for payment it is checked in background for fraud or missing card status.The credit card payment terminal or Point of Sale (POS) system helps store owners to do verification with issuing credit card company’s system.

The security code of credit card is printed on back of credit card.

Each month credit card company will send monthly statement to credit card users. The statement will include details of transaction made by credit card user. The important details will be visible such as day of transaction, merchant’s name, amount paid etc. This information helps you to cross verify purchases made with amount charged on credit card.

The credit card statement also gives other information such as billing cycle, due date (payment date), total balance and minimum payment you can make.

The grace period is the number of days to make payment back to credit card company from the day he/she made purchase.

The credit card companies form associations and many bank become member of these credit card associations. The known associations are VISA, MASTERCARD,DISCOVER, AMERICAN EXPRESS etc.

Electronic transaction processing network, which allow electronic transaction to work through secure system. Following are few companies which are in this business. NDC Atlanta, Nova, Cardnet, Nabanco, Omaha, Paymentech, Vital, VisaNet and Concord EFSnet.

Secure credit card: Some credit card companies issues secure credit card after applicant has deposited 10% of credit limit into his/her account. This type of account is for new users with very little credit history to show.

Pre-Paid Credit Card: This is not really a credit card, because no amount is borrowed from lender. This type of credit card is used by students when their parents deposit required amount into account for their shopping. This type of credit card comes with VISA/MASTECARD logo thus is called pre-paid credit card

Security of credit card is dependent upon the number on credit card. Few merchants will allow certain types of sale by just getting credit card number. Ensure you don’t compromise security of credit card.

You can also withdraw money through credit card at ATM’s using your secure pin number
Annual percentage rate (APR): Learn what is APR and how it is calculated.The annual percentage rate is the interest you will be paying on borrowed money to lender.

The APR rate applicable to your account will differ from the rate which was given as introductory, partly because of few month introduction rate and other fees get added to final interest calculation.

In simple terms APR is monthly interest multiplied by 12 months will result in annual APR rate. This assumes there is no other fees involved.

Balance transfer: Why would you transfer debit amount in your credit card to other card. the reason could be better interest rate and terms. some of the credit card companies give introductory offers such as no interest on balance transfer for 6 months to 2 years.

These offers are good when you are paying high interest rate or you have high balance on credit cards and you are looking for cooling period to fix your debits.

How important is to protect your Credit Card

This small plastic card which you carry in your wallet is very precious more than your jewelry you wear on your body. The security of credit card should be taken very seriously. Once your credit card is stolen, your account information is known to others, it will take good time before you will get those charged removed from your account.

Meanwhile your credit rating will take hit if there is big charge on your credit card and you are not able to settle those charges. take every effort to safe guard security of your on-line identity and security of credit card.

Few security tips: Always keep your credit card in secure place when not using.

Never reveal your credit card numbers to others.

Try to avoid giving your credit card information on phone.

Any loss of credit card should be immediately informed to issuing credit card company.

If you are using on-line access to check your credit card account, please use secure methods to protect your identity and credit card etails.

Install “fire wall” and good virus and spyware scanner on your computer.

Change your on-line account passwords periodically.

Never use public computers to access on-line accounts.

What You Need To Know About Credit Cards

What is a credit card? A credit card is a card that allows you to borrow money to pay for things. There will be a limit to how much you can spend called your credit limit. At the end of each month you can either pay off the whole of the amount you owe or make a minimum repayment. Other kinds of cards include: 1) A cheque guarantee card, issued by your bank, that you can use to ensure that your cheque will be honoured up to a certain limit.

2) A chargecard where you have to repay the full amount at the end of each month.

3) A debit card, issued by your bank, where whatever you spend is immediately deducted from your bank account Do you need a credit card? Using a credit card is a useful way of making purchases: a) A credit card means you don’t need to carry huge amounts of cash around and risk losing it.

b) A credit card means you can buy items over the internet.

c) A credit card means you can make purchases abroad without having to worry about local currency.

d) A credit card gives the opportunity to spread the cost of a large payment over several months.

e) A credit card is useful in an emergency. For example, an unexpected repair to your house or car.How do you choose a credit card? The main two UK credit card issuers are Visa and Mastercard. These are accepted in most places and in 130 countries worldwide. Beware of less well known brands that may not be accepted everywhere. Before you choose which credit card is the best for you, remember to read the terms and conditions carefully. Never sign up for a credit card without fully understanding what you are agreeing to. Remember that all the plus factors will be prominently displayed in large print. You may have to study the small print carefully to discover if there are any negative factors.
A list of the current cards on offer in summary is available on this credit card summary page. What You Need To Consider:1) APR (Annual Percentage Rate)

This is the rate of interest that you will pay on any outstanding balance. 2) Special Introductory Rates

You may be offered a low or 0% rate of interest for a limited time (Up to 6 months) when you sign up for a new card. A higher rate of interest may be charged for cash withdrawals. 3) Balance Transfer Rate

Card issuers may offer you a lower rate of interest if your swap your balance from another credit card to theirs. 4) Interest Free period

Remember to check when interest payments will begin. Will you pay interest from the day of the purchase? Or will you have a number of days interest free before you begin to pay? There is usually no interest free period for cash withdrawals. 5) Cashback and Rewards

Some cards over points or rewards for every pound spent on the credit card. Make sure that these are appropriate for you. For example, there&’s no use collecting airmiles if you never fly. 6) Minimum Repayment

Remember to check what the minimum monthly repayment will be. If you borrow £1000 on your credit card the monthly minimum repayment will probably be in the region of £25. But if you only pay this amount each month it will take a long time to pay off the balance and cost a lot in total when you include the interest payments. 7) Annual Fees

This is the fee that the issuer will charge you every year for using their credit card. Not all credit cards have an annual fee, so remember to consider this when you are choosing which one is right for you. 8) Late Payments

There will be an extra charge, as well as the interest owed, if your payment is late. This charge may even be more than the amount you owe so be very careful to check what the charge is, and to ensure that all your payments are made on time. A good way of doing this is to set up a direct debit from your current account. 9) Exceeding Your Limit

You may also be charged a fee if you exceed your credit limit. Will Your Application Be Accepted? Whether or not your application is successful will depend on your credit rating. Your credit rating depends on your credit history (a record of your use of credit) and is based on the record of your ability to repay debt. You can obtain a copy of your credit file by contacting a credit reference agency. There may be a small fee for this service. When you application has been accepted you will be given a credit limit. The credit limit will be fixed when you first apply for your card (although you can ask for it to be increased or decreased later) and the limit, including the amount you have left available to spend, will be shown on your monthly statement. Insurances and Protection. What You Can Do: 1) Take good care of your credit card to ensure that it isn’t lost or stolen. 2) To prevent misuse of your card you must report any loss or theft of your card to the issuer immediately. Many issuers allow you to register all your cards with them so that in the event of you losing a purse, handbag or wallet they can all be cancelled with just one phone call. 3) You must keep all your receipts and also check your statement carefully and report any suspicious transactions. For example payments that you have no record of making. 4) Credit card companies are now issuing cards with PIN (Personal identification numbers) which are known as Chip and PIN cards. Rather than signing your name you will be asked to enter your PIN onto a keypad. You must ensure that you keep this number secret. What The Issuer Will Do 1) The issuer should insure you against loss, misuse or theft of your card. 2) The issuer may also insure your purchases for up to 100 days. 3) Your issuer may also provide protection against you being sold unsuitable or shoddy goods. Important Points To Remember:a) Credit cards can be a very useful tool to help you to manage your finances.

b) Choose your card carefully, remembering to read and understand all the terms and conditions before you sign up.

c) Remember to set yourself a budget and decide how much you will pay off each month.

d) Check your statements carefully each month.

e) Look after your card to prevent it being lost or stolen.For a glossary of the terms mentioned in this article please visit the credit card glossary page.

All About College Credit Cards

College credit cards are the credit cards that have been specially designed for college students. College credit cards are more popularly known as student credit cards. College credit cards allow the students to experience the benefits of credit cards much earlier in their life. Through college credit cards, the college students are able to learn more about credit cards and their use. In fact, for most of the students, their college credit card is their first credit card that acts as a gateway to the world of credit cards. Some other students might have previously used supplementary credit cards linked to their father’s credit card account; however, for such students too, their college credit card is the first one that is truly theirs.

College credit cards are not very different from other types of credit cards in the basic sense; they function in the same way as any credit card would. However, there are some differences, which basically arise from the fact that college credit cards are used by people who have no prior experience with credit cards and who perhaps don’t understand the concept of credit cards completely. Hence, the credit card supplier is at risk with issuing credit cards (college credit cards) to such people whom he is not sure about. Most of the students don’t have a credit history either. In such a case, the supplier of college credit card cannot be sure of receiving the credit card bill payments in time (and even receiving them at all). To counter such risks, the supplier of college credit card requires the parent of the student to co-sign the college credit card application form as a guarantee.

Moreover, the credit limit on college credit cards is generally around $500-$1000 per month, which is lower than what it is for other credit cards (this credit limit is generally sufficient to fulfil the typical needs of a student). Another risk mitigation instrument used by the college credit card suppliers is the interest rate or APR. The APR on college credit cards is generally higher than that for other credit cards. Again, this is done to dissuade the students from overspending on their college credit card (and finally not being able to pay their credit card bills).

However, if we were to look at these impositions in a positive sense, we would find that these are actually in favour of the student (who is still getting trained to take on the real world of credit cards). Moreover, college credit cards also help the students in establishing a (good) credit history which is another important benefit that becomes handy when the student needs any type of loan at a later stage in his/her life.