The "Credit Card Debt Termination" Scam
By Charles Phelan
"Legally terminate credit card debt! You can be debt-free in
4-6 months!" Advertisements like this are for a new type of
program that has spread via the Internet over the past few
years. It's called "Credit Card Debt Termination," and victims
are paying up to $3,500 for this bogus service. In this
article, I'll review the principles behind this program and
explain exactly why it's a scam to be avoided.
First, let's get our definitions straight. The scheme I'm
describing here should not be confused with Debt Consolidation
or Debt Settlement (also known as Debt Negotiation), both of
which are legitimate and ethical methods for debt resolution.
The easiest way to distinguish the Credit Card Debt Termination
scam from other valid programs is based on the central claim
that you really don't owe any money!
With Debt Consolidation, you pay back all of your debt
balances. With Debt Settlement, you pay back a lower amount
(usually around 50%) while the creditor agrees to forgive the
remaining balance. However, with the bogus Credit Card Debt
Termination program, promoters claim that you won't need to pay
anything at all (except their outrageous fees, naturally). They
make the surprising claim that you can legally wipe away your
debts simply by using their super-duper magic documents. Based
on some legal mumbo-jumbo, the claim is made that you really
didn't borrow any money from your creditors!
In order to understand this scam, a little background is
necessary. Remember the tax protest movement back in the 1970s?
People were claiming that the IRS tax collection system was
unconstitutional, and based on their misinterpretation of the
tax code, they refused to pay taxes. The IRS came down hard on
the tax protest movement, and through the court system, they
blew holes in all the legal arguments put forth by the
protesters. The Credit Card Debt Termination scam is a lot like
the tax protest movement. In fact, among collection
professionals, it's called the "monetary protest movement."
Just like the tax protest movement, there is a common theme
that runs through all of the promotional materials issued by
the monetary protestors. The basic idea is that our Federal
Reserve monetary system and generally accepted accounting
principles (GAAP) do not permit banks to loan out their own
money. Therefore, according to their interpretation, the credit
card banks are the ones running the scam on the American public.
Stay with me here, because the logic is pretty strange. If a
bank cannot lend its own money, how does a credit card bank
extend credit? The claim here is that your credit card
agreement itself becomes a form of money (known as a promissory
note) the moment you sign it. The idea is that the bank
"deposits" your agreement as an asset on their books, and then
any credit you use is offset as a liability against that asset.
In other words, the core concept here is that you literally
borrowed your own money from the credit card bank.
So let's say your balance with ABC Credit Card Bank is $10,000,
which you borrowed against the card to make everyday purchases.
The scam promoters say all you need to do is notify the bank
that you want your original "deposit" back. However, you will
permit the bank to offset the amount you borrowed against the
amount you have on "deposit." Presto! You don't owe the balance
anymore!
Now, as you can imagine, the banks don't take kindly to such
tactics. Many of the consumers using this technique are getting
sued by their creditors. But the scammers have more tricks
available, as if the "smoke and mirrors" financial nonsense
wasn't enough. One of their techniques is the use of bogus
"arbitration" forums. Arbitration is of course a legitimate
system that allows businesses and individuals to resolve
disputes without going to court. What do the scammers do? They
coach people on how to set up a fake arbitration forum, for the
express purpose of making a dispute against their creditors!
Naturally, the creditors will not send representatives to some
non-existent arbitration forum, so the consumer gets to
rubber-stamp their own arbitration award. If they get sued in a
regular court, they present their bogus award to the judge in
the hopes that the creditor's lawsuit will be dismissed.
There are other techniques used by promoters of this scheme,
but the key point to remember is the central claim that your
credit card debt does not really exist. Of course, it's all
nonsense based on a misinterpretation of our monetary system,
and if you step back and think about for a minute, the truth
seems pretty obvious. What these scammers are saying is that
the entire $700 billion credit card industry is operating on an
illegal basis! Even if the legal theory used by the promoters
were true (which it isn't), do you think for a moment the
government would allow this giant industry to go under? That's
exactly what would happen if the promoter's claims were proven
true and used on a widespread basis.
The Federal Trade Commission, which has jurisdiction here,
hasn't stomped on these con artists yet, but it's only a matter
of time. Unfortunately, in the meanwhile, consumers are being
bilked out of millions of dollars for a worthless program that
will only get them into deep trouble with their creditors. If
you are approached by someone offering to wipe away your debts
using this system, I strongly recommend you run in the other
direction while you hold on tightly to your wallet or purse.
Remember, you can eliminate your debts if you take a
disciplined approach to your finances, make a budget and stick
to it, and don't use your credit cards unless you can pay off
new balances in full each month.
Good luck in your financial future!
About the Author: Charles J. Phelan has been helping people
become debt-free without bankruptcy since 1997. A former
executive in the debt settlement industry, he teaches the
do-it-yourself method of debt negotiation. Audio-CD material
plus expert personal coaching helps consumers achieve
professional results at a fraction of the cost.
http://www.zipdebt.com
Source: http://www.isnare.com
Tuesday, August 7, 2007
Credit Card Terminals
The "Credit Card Debt Termination" Scam
By Charles Phelan
"Legally terminate credit card debt! You can be debt-free in
4-6 months!" Advertisements like this are for a new type of
program that has spread via the Internet over the past few
years. It's called "Credit Card Debt Termination," and victims
are paying up to $3,500 for this bogus service. In this
article, I'll review the principles behind this program and
explain exactly why it's a scam to be avoided.
First, let's get our definitions straight. The scheme I'm
describing here should not be confused with Debt Consolidation
or Debt Settlement (also known as Debt Negotiation), both of
which are legitimate and ethical methods for debt resolution.
The easiest way to distinguish the Credit Card Debt Termination
scam from other valid programs is based on the central claim
that you really don't owe any money!
With Debt Consolidation, you pay back all of your debt
balances. With Debt Settlement, you pay back a lower amount
(usually around 50%) while the creditor agrees to forgive the
remaining balance. However, with the bogus Credit Card Debt
Termination program, promoters claim that you won't need to pay
anything at all (except their outrageous fees, naturally). They
make the surprising claim that you can legally wipe away your
debts simply by using their super-duper magic documents. Based
on some legal mumbo-jumbo, the claim is made that you really
didn't borrow any money from your creditors!
In order to understand this scam, a little background is
necessary. Remember the tax protest movement back in the 1970s?
People were claiming that the IRS tax collection system was
unconstitutional, and based on their misinterpretation of the
tax code, they refused to pay taxes. The IRS came down hard on
the tax protest movement, and through the court system, they
blew holes in all the legal arguments put forth by the
protesters. The Credit Card Debt Termination scam is a lot like
the tax protest movement. In fact, among collection
professionals, it's called the "monetary protest movement."
Just like the tax protest movement, there is a common theme
that runs through all of the promotional materials issued by
the monetary protestors. The basic idea is that our Federal
Reserve monetary system and generally accepted accounting
principles (GAAP) do not permit banks to loan out their own
money. Therefore, according to their interpretation, the credit
card banks are the ones running the scam on the American public.
Stay with me here, because the logic is pretty strange. If a
bank cannot lend its own money, how does a credit card bank
extend credit? The claim here is that your credit card
agreement itself becomes a form of money (known as a promissory
note) the moment you sign it. The idea is that the bank
"deposits" your agreement as an asset on their books, and then
any credit you use is offset as a liability against that asset.
In other words, the core concept here is that you literally
borrowed your own money from the credit card bank.
So let's say your balance with ABC Credit Card Bank is $10,000,
which you borrowed against the card to make everyday purchases.
The scam promoters say all you need to do is notify the bank
that you want your original "deposit" back. However, you will
permit the bank to offset the amount you borrowed against the
amount you have on "deposit." Presto! You don't owe the balance
anymore!
Now, as you can imagine, the banks don't take kindly to such
tactics. Many of the consumers using this technique are getting
sued by their creditors. But the scammers have more tricks
available, as if the "smoke and mirrors" financial nonsense
wasn't enough. One of their techniques is the use of bogus
"arbitration" forums. Arbitration is of course a legitimate
system that allows businesses and individuals to resolve
disputes without going to court. What do the scammers do? They
coach people on how to set up a fake arbitration forum, for the
express purpose of making a dispute against their creditors!
Naturally, the creditors will not send representatives to some
non-existent arbitration forum, so the consumer gets to
rubber-stamp their own arbitration award. If they get sued in a
regular court, they present their bogus award to the judge in
the hopes that the creditor's lawsuit will be dismissed.
There are other techniques used by promoters of this scheme,
but the key point to remember is the central claim that your
credit card debt does not really exist. Of course, it's all
nonsense based on a misinterpretation of our monetary system,
and if you step back and think about for a minute, the truth
seems pretty obvious. What these scammers are saying is that
the entire $700 billion credit card industry is operating on an
illegal basis! Even if the legal theory used by the promoters
were true (which it isn't), do you think for a moment the
government would allow this giant industry to go under? That's
exactly what would happen if the promoter's claims were proven
true and used on a widespread basis.
The Federal Trade Commission, which has jurisdiction here,
hasn't stomped on these con artists yet, but it's only a matter
of time. Unfortunately, in the meanwhile, consumers are being
bilked out of millions of dollars for a worthless program that
will only get them into deep trouble with their creditors. If
you are approached by someone offering to wipe away your debts
using this system, I strongly recommend you run in the other
direction while you hold on tightly to your wallet or purse.
Remember, you can eliminate your debts if you take a
disciplined approach to your finances, make a budget and stick
to it, and don't use your credit cards unless you can pay off
new balances in full each month.
Good luck in your financial future!
About the Author: Charles J. Phelan has been helping people
become debt-free without bankruptcy since 1997. A former
executive in the debt settlement industry, he teaches the
do-it-yourself method of debt negotiation. Audio-CD material
plus expert personal coaching helps consumers achieve
professional results at a fraction of the cost.
http://www.zipdebt.com
Source: http://www.isnare.com
By Charles Phelan
"Legally terminate credit card debt! You can be debt-free in
4-6 months!" Advertisements like this are for a new type of
program that has spread via the Internet over the past few
years. It's called "Credit Card Debt Termination," and victims
are paying up to $3,500 for this bogus service. In this
article, I'll review the principles behind this program and
explain exactly why it's a scam to be avoided.
First, let's get our definitions straight. The scheme I'm
describing here should not be confused with Debt Consolidation
or Debt Settlement (also known as Debt Negotiation), both of
which are legitimate and ethical methods for debt resolution.
The easiest way to distinguish the Credit Card Debt Termination
scam from other valid programs is based on the central claim
that you really don't owe any money!
With Debt Consolidation, you pay back all of your debt
balances. With Debt Settlement, you pay back a lower amount
(usually around 50%) while the creditor agrees to forgive the
remaining balance. However, with the bogus Credit Card Debt
Termination program, promoters claim that you won't need to pay
anything at all (except their outrageous fees, naturally). They
make the surprising claim that you can legally wipe away your
debts simply by using their super-duper magic documents. Based
on some legal mumbo-jumbo, the claim is made that you really
didn't borrow any money from your creditors!
In order to understand this scam, a little background is
necessary. Remember the tax protest movement back in the 1970s?
People were claiming that the IRS tax collection system was
unconstitutional, and based on their misinterpretation of the
tax code, they refused to pay taxes. The IRS came down hard on
the tax protest movement, and through the court system, they
blew holes in all the legal arguments put forth by the
protesters. The Credit Card Debt Termination scam is a lot like
the tax protest movement. In fact, among collection
professionals, it's called the "monetary protest movement."
Just like the tax protest movement, there is a common theme
that runs through all of the promotional materials issued by
the monetary protestors. The basic idea is that our Federal
Reserve monetary system and generally accepted accounting
principles (GAAP) do not permit banks to loan out their own
money. Therefore, according to their interpretation, the credit
card banks are the ones running the scam on the American public.
Stay with me here, because the logic is pretty strange. If a
bank cannot lend its own money, how does a credit card bank
extend credit? The claim here is that your credit card
agreement itself becomes a form of money (known as a promissory
note) the moment you sign it. The idea is that the bank
"deposits" your agreement as an asset on their books, and then
any credit you use is offset as a liability against that asset.
In other words, the core concept here is that you literally
borrowed your own money from the credit card bank.
So let's say your balance with ABC Credit Card Bank is $10,000,
which you borrowed against the card to make everyday purchases.
The scam promoters say all you need to do is notify the bank
that you want your original "deposit" back. However, you will
permit the bank to offset the amount you borrowed against the
amount you have on "deposit." Presto! You don't owe the balance
anymore!
Now, as you can imagine, the banks don't take kindly to such
tactics. Many of the consumers using this technique are getting
sued by their creditors. But the scammers have more tricks
available, as if the "smoke and mirrors" financial nonsense
wasn't enough. One of their techniques is the use of bogus
"arbitration" forums. Arbitration is of course a legitimate
system that allows businesses and individuals to resolve
disputes without going to court. What do the scammers do? They
coach people on how to set up a fake arbitration forum, for the
express purpose of making a dispute against their creditors!
Naturally, the creditors will not send representatives to some
non-existent arbitration forum, so the consumer gets to
rubber-stamp their own arbitration award. If they get sued in a
regular court, they present their bogus award to the judge in
the hopes that the creditor's lawsuit will be dismissed.
There are other techniques used by promoters of this scheme,
but the key point to remember is the central claim that your
credit card debt does not really exist. Of course, it's all
nonsense based on a misinterpretation of our monetary system,
and if you step back and think about for a minute, the truth
seems pretty obvious. What these scammers are saying is that
the entire $700 billion credit card industry is operating on an
illegal basis! Even if the legal theory used by the promoters
were true (which it isn't), do you think for a moment the
government would allow this giant industry to go under? That's
exactly what would happen if the promoter's claims were proven
true and used on a widespread basis.
The Federal Trade Commission, which has jurisdiction here,
hasn't stomped on these con artists yet, but it's only a matter
of time. Unfortunately, in the meanwhile, consumers are being
bilked out of millions of dollars for a worthless program that
will only get them into deep trouble with their creditors. If
you are approached by someone offering to wipe away your debts
using this system, I strongly recommend you run in the other
direction while you hold on tightly to your wallet or purse.
Remember, you can eliminate your debts if you take a
disciplined approach to your finances, make a budget and stick
to it, and don't use your credit cards unless you can pay off
new balances in full each month.
Good luck in your financial future!
About the Author: Charles J. Phelan has been helping people
become debt-free without bankruptcy since 1997. A former
executive in the debt settlement industry, he teaches the
do-it-yourself method of debt negotiation. Audio-CD material
plus expert personal coaching helps consumers achieve
professional results at a fraction of the cost.
http://www.zipdebt.com
Source: http://www.isnare.com
Tuesday, July 31, 2007
Credit Card Terminals
Minimum Credit Card Payments To Rise
By Charles Essmeier
For years, major credit card companies have allowed cardholders
to make minimum payments of 2% of the outstanding balances on
their credit cards. Having customers pay the minimum doesn’t
reduce the balance by very much, but when the 18-30% interest
rates that many credit cards charge is applied, the result is a
profitable ones for the banks that issue credit cards. A balance
of $1000 can take nine years to pay off at 20% interest if the
borrower only pays the minimum due each month.
Clearly, it is not in the best interests of consumers to pay
the minimum every month. But tens of thousands of Americans do
just that, carrying huge balances and paying the minimum every
month. The average household now carries $10,000 in credit card
debt; for many people, paying the minimum is all they can
manage. Due to changes in Federal law, several major credit
card issuing banks will soon raise the minimum amount due to
4%. This might seem like a small increase, but if you are
already deep in debt and paying the minimum amount, this could
cause your payments to double. If you have a $10,000 balance
and you are paying $200 per month, you will soon need to come
up with $400 instead. Many people will find this impossible to
do, as they are already paying as much as they can. What
solutions are available?
The usual common sense rules of credit card use apply here.
Stop using your credit cards. See if you can consolidate your
debt on another credit card with lower interest. See if you can
cut out some unnecessary expenses in order to free up some more
money to pay your balance. Consider a home equity loan to
consolidate your debt. Call your card issuing bank and see if
they can work out repayment plan or lower your interest rate.
There are numerous solutions available, but card holders need
to be aware that the minimum payment is rising, and it isn’t
going to come back down. By charging a 4% minimum, the credit
card issuing banks are hoping that consumers will pay off their
debt a bit sooner and that fewer consumers will find themselves
in a situation where filing for bankruptcy is the only
solution. And once October comes around, even filing for
bankruptcy will be more difficult. Credit card holders with
large balances on their accounts should give considerable
thought to reducing their debt now, as payment options and
requirements are going to be more strict from now on.
About the Author: ©Copyright 2005 by Retro Marketing. Charles
Essmeier is the owner of Retro Marketing, a firm devoted to
informational Websites, including http://www.End-Your-Debt.com,
a site devoted to debt consolidation and credit counseling, and
http://www.StructuredSettlementHelp.com, a site devoted to
information regarding structured settlements.
Source: http://www.isnare.com
By Charles Essmeier
For years, major credit card companies have allowed cardholders
to make minimum payments of 2% of the outstanding balances on
their credit cards. Having customers pay the minimum doesn’t
reduce the balance by very much, but when the 18-30% interest
rates that many credit cards charge is applied, the result is a
profitable ones for the banks that issue credit cards. A balance
of $1000 can take nine years to pay off at 20% interest if the
borrower only pays the minimum due each month.
Clearly, it is not in the best interests of consumers to pay
the minimum every month. But tens of thousands of Americans do
just that, carrying huge balances and paying the minimum every
month. The average household now carries $10,000 in credit card
debt; for many people, paying the minimum is all they can
manage. Due to changes in Federal law, several major credit
card issuing banks will soon raise the minimum amount due to
4%. This might seem like a small increase, but if you are
already deep in debt and paying the minimum amount, this could
cause your payments to double. If you have a $10,000 balance
and you are paying $200 per month, you will soon need to come
up with $400 instead. Many people will find this impossible to
do, as they are already paying as much as they can. What
solutions are available?
The usual common sense rules of credit card use apply here.
Stop using your credit cards. See if you can consolidate your
debt on another credit card with lower interest. See if you can
cut out some unnecessary expenses in order to free up some more
money to pay your balance. Consider a home equity loan to
consolidate your debt. Call your card issuing bank and see if
they can work out repayment plan or lower your interest rate.
There are numerous solutions available, but card holders need
to be aware that the minimum payment is rising, and it isn’t
going to come back down. By charging a 4% minimum, the credit
card issuing banks are hoping that consumers will pay off their
debt a bit sooner and that fewer consumers will find themselves
in a situation where filing for bankruptcy is the only
solution. And once October comes around, even filing for
bankruptcy will be more difficult. Credit card holders with
large balances on their accounts should give considerable
thought to reducing their debt now, as payment options and
requirements are going to be more strict from now on.
About the Author: ©Copyright 2005 by Retro Marketing. Charles
Essmeier is the owner of Retro Marketing, a firm devoted to
informational Websites, including http://www.End-Your-Debt.com,
a site devoted to debt consolidation and credit counseling, and
http://www.StructuredSettlementHelp.com, a site devoted to
information regarding structured settlements.
Source: http://www.isnare.com
Friday, July 27, 2007
Credit Card Terminals
Credit Card Machines
By Alan Jason Smith
Credit Cards Machines come in all shapes and styles. Credit
card machines come in a variety of price ranges, offering
enough choices that you can select exactly the model your
business would thrive with. Credit card machines are a must for
any business to succeed in today’s market. Credit card machines
tap into the most popular form of payment for products and
services: credit cards. Since the evolution of the atm card
into a debit card, credit card machines have developed many
talents. Credit card machines can run payments on a card as a
check, as a debt transaction straight from a checking account,
or as a credit card payment that a patron will pay at a later
date as decided by the credit card company.
Credit card machines offer the security of positive payment. A
credit card machine offers increased reliability, ensuring
money is in an account before your clients leave with product.
Money saved in bad check recovery more than makes up for the
cost of credit card machines. There are many different kinds of
credit card machines.
Some credit card machines tap into the credit system without a
printer. These terminals make sense for mail order or phone
order businesses. When a merchant does not need to issue a
receipt of sale at the time of the sale, the merchant can save
money by not buying a terminal-printer combo.
Credit card machines without a printer are the cheapest
machines, costing between two hundred and five hundred dollars.
Landscaping, locksmith, and plumbing businesses, businesses
where travel and on-site payment is required without immediate
access to a credit card terminal, all benefit from credit card
machines lacking printers.
Credit card machines that include a printer are the most common
form of credit card machine used in industry today. Printers on
credit card machines can be integrated impact or thermal. A
single unit dually functions to process the credit card
transaction and then to print a receipt. These machines can be
more expensive than those terminals without printers, but they
are reasonable and effective in medium volume retail. These
credit card machines range from under three hundred dollars to
nine hundred dollars. Additional options can be ordered, such
as a built in pin pad. These enable customers to enter their
pin number for debit transactions without the merchant needing
to purchase an additional machine. Some credit card machines
with built in printers require ink cartridges, but some do not.
While those that do not require ink cartridges may be slightly
more expensive they may save time and add efficiency to sales.
Wireless credit card machines provide the same functions of
general credit card machines with a few overwhelming
advantages. Wireless credit card machines do not require
separate wires to trip on. They do not require a separate phone
line. Wireless credit card machines access credit systems
faster, and provide faster turn around on sales. Wireless
credit card machines are more expensive and require wireless
service packages, but may be a must for high volume businesses.
They are effective and reliable, consisting of the most up to
date technology.
Regardless of the type of credit card machine you choose to
invest in, credit card machines can aide your business. Credit
card machines are a must for the twenty-first century and have
advanced to be more effective for you and for your customers.
About the Author: Alan Jason Smith is the owner of
http://www.creditcardspdq.com which is a great place to find
credit card links, resources and articles. For more information
go to: http://www.creditcardspdq.com
Source: http://www.isnare.com
By Alan Jason Smith
Credit Cards Machines come in all shapes and styles. Credit
card machines come in a variety of price ranges, offering
enough choices that you can select exactly the model your
business would thrive with. Credit card machines are a must for
any business to succeed in today’s market. Credit card machines
tap into the most popular form of payment for products and
services: credit cards. Since the evolution of the atm card
into a debit card, credit card machines have developed many
talents. Credit card machines can run payments on a card as a
check, as a debt transaction straight from a checking account,
or as a credit card payment that a patron will pay at a later
date as decided by the credit card company.
Credit card machines offer the security of positive payment. A
credit card machine offers increased reliability, ensuring
money is in an account before your clients leave with product.
Money saved in bad check recovery more than makes up for the
cost of credit card machines. There are many different kinds of
credit card machines.
Some credit card machines tap into the credit system without a
printer. These terminals make sense for mail order or phone
order businesses. When a merchant does not need to issue a
receipt of sale at the time of the sale, the merchant can save
money by not buying a terminal-printer combo.
Credit card machines without a printer are the cheapest
machines, costing between two hundred and five hundred dollars.
Landscaping, locksmith, and plumbing businesses, businesses
where travel and on-site payment is required without immediate
access to a credit card terminal, all benefit from credit card
machines lacking printers.
Credit card machines that include a printer are the most common
form of credit card machine used in industry today. Printers on
credit card machines can be integrated impact or thermal. A
single unit dually functions to process the credit card
transaction and then to print a receipt. These machines can be
more expensive than those terminals without printers, but they
are reasonable and effective in medium volume retail. These
credit card machines range from under three hundred dollars to
nine hundred dollars. Additional options can be ordered, such
as a built in pin pad. These enable customers to enter their
pin number for debit transactions without the merchant needing
to purchase an additional machine. Some credit card machines
with built in printers require ink cartridges, but some do not.
While those that do not require ink cartridges may be slightly
more expensive they may save time and add efficiency to sales.
Wireless credit card machines provide the same functions of
general credit card machines with a few overwhelming
advantages. Wireless credit card machines do not require
separate wires to trip on. They do not require a separate phone
line. Wireless credit card machines access credit systems
faster, and provide faster turn around on sales. Wireless
credit card machines are more expensive and require wireless
service packages, but may be a must for high volume businesses.
They are effective and reliable, consisting of the most up to
date technology.
Regardless of the type of credit card machine you choose to
invest in, credit card machines can aide your business. Credit
card machines are a must for the twenty-first century and have
advanced to be more effective for you and for your customers.
About the Author: Alan Jason Smith is the owner of
http://www.creditcardspdq.com which is a great place to find
credit card links, resources and articles. For more information
go to: http://www.creditcardspdq.com
Source: http://www.isnare.com
Thursday, July 26, 2007
Credit Card Terminals
Credit Card Debt Eliminators, Are They For Real?
By Christopehr M Luck
If you have excessive credit card debt, then you have probably
not only seen the ads but been tempted to look into them. These
are the ads that say you can terminate and wipe out your credit
card debt legally. Before you buy into these companies, there is
some information you should have that will probably help you to
steer clear of such advertised services.
These credit card debt elimination companies will tell you some
things that are not entire true. For instance, many of them will
claim that your credit card debt is the responsibility of your
bank. They will tell you that when your credit was established
and the limit on the card set, that the supporting bank was
taking responsibility for the debts in much the same way as a
co-signer would on any other loan. They will tell you that the
credit card company may call you or even report you to a debt
collector, but that they will not sue you for the amount. The
problem with their theory is that if it were true, wouldn’t most
people solve the problem of credit card debt by just not paying?
Also, why would the banks even take the gamble on the cards with
the huge risk out there that you won’t pay them?
Another way these companies will draw you in is by claiming
that you can erase credit card debt through the use of hidden or
obscure laws. They will tell you that they understand certain
loopholes that protect you from having to pay the banks that
you’re your credit. In the end, though, they are not willing to
make any guarantees, so the process of credit card debt
elimination starts to sound a little less credible.
However, if you get that far and still haven’t hung up on them,
these credit card debt elimination companies will hit you with
the big one: a program they want you to buy. Now, the program
will supposedly be sure-fire, but they are also going to want
their money up front (perhaps in case the sure fire debt
eliminator isn’t so sure fire). So they will tell you that it
doesn’t cost anything, except for what you are paying them for
all of this top secret information they have.
So before you consider getting rid of your credit card debt
through one of these debt elimination companies, take some time
to educate yourself and to think about what they are telling
you. For one, wouldn’t you think that most lawyers would be
aware of these loop holes? If so, then you would probably save
money by talking to your attorney first in a consultation. Also,
would credit card companies be so prevalent if it was so easy to
get out of what you owe on your cards? Probably not, since they
are absolutely counting on you to make any money at all. The
thing to remember is that if something sounds too good to be
true, then there is a good chance that it is. That goes for debt
elimination as much as it does for any other scam you see out
there. So, before you go forward with anything that is going to
affect your finances, you may want to take some time to ask a
lot of questions, research for yourself, and make sure you are
completely comfortable with the entire process.
About the Author: If you would like to read more of my personal
articles like the one listed above, please visit my credit card
tips blog. Thank you for your time, and I hope I could be of
some help! http://www.dixiejournal.com/category/finance-news
Source: http://www.isnare.com
By Christopehr M Luck
If you have excessive credit card debt, then you have probably
not only seen the ads but been tempted to look into them. These
are the ads that say you can terminate and wipe out your credit
card debt legally. Before you buy into these companies, there is
some information you should have that will probably help you to
steer clear of such advertised services.
These credit card debt elimination companies will tell you some
things that are not entire true. For instance, many of them will
claim that your credit card debt is the responsibility of your
bank. They will tell you that when your credit was established
and the limit on the card set, that the supporting bank was
taking responsibility for the debts in much the same way as a
co-signer would on any other loan. They will tell you that the
credit card company may call you or even report you to a debt
collector, but that they will not sue you for the amount. The
problem with their theory is that if it were true, wouldn’t most
people solve the problem of credit card debt by just not paying?
Also, why would the banks even take the gamble on the cards with
the huge risk out there that you won’t pay them?
Another way these companies will draw you in is by claiming
that you can erase credit card debt through the use of hidden or
obscure laws. They will tell you that they understand certain
loopholes that protect you from having to pay the banks that
you’re your credit. In the end, though, they are not willing to
make any guarantees, so the process of credit card debt
elimination starts to sound a little less credible.
However, if you get that far and still haven’t hung up on them,
these credit card debt elimination companies will hit you with
the big one: a program they want you to buy. Now, the program
will supposedly be sure-fire, but they are also going to want
their money up front (perhaps in case the sure fire debt
eliminator isn’t so sure fire). So they will tell you that it
doesn’t cost anything, except for what you are paying them for
all of this top secret information they have.
So before you consider getting rid of your credit card debt
through one of these debt elimination companies, take some time
to educate yourself and to think about what they are telling
you. For one, wouldn’t you think that most lawyers would be
aware of these loop holes? If so, then you would probably save
money by talking to your attorney first in a consultation. Also,
would credit card companies be so prevalent if it was so easy to
get out of what you owe on your cards? Probably not, since they
are absolutely counting on you to make any money at all. The
thing to remember is that if something sounds too good to be
true, then there is a good chance that it is. That goes for debt
elimination as much as it does for any other scam you see out
there. So, before you go forward with anything that is going to
affect your finances, you may want to take some time to ask a
lot of questions, research for yourself, and make sure you are
completely comfortable with the entire process.
About the Author: If you would like to read more of my personal
articles like the one listed above, please visit my credit card
tips blog. Thank you for your time, and I hope I could be of
some help! http://www.dixiejournal.com/category/finance-news
Source: http://www.isnare.com
Tuesday, July 24, 2007
Credit Card Terminals
Buying A Car - Preparing Yourself For A Car Loan
By [http://ezinearticles.com/?expert=Apurva_Shree]Apurva Shree
While buying a new car, the first thing that comes into ones mind is the price. Salaried people usually prefer to take car loans instead of paying the entire amount outright. Before you go to the showroom, prepare yourself with all the information you require to finance your new car purchase with a car loan and preferably a low interest car loan.
Take a long hard look at your financial condition and zero in on the budget – the maximum price you are willing to pay for the car of your choice. Once you have finalized that, decide on the amount of money you can afford to shell out as a down payment for the car loan. This would have a direct impact on what you can comfortably afford to pay every month as car loan repayment.
Do Your Homework Before Taking A Car Loan
Entering a car showroom without doing an extensive market research is foolhardy – you are at the mercy of the smiling car salesperson! With the advent of internet, market research has never been easier! Look around for dealers and banks offering low interest car loans. Use a search engine intelligently and you will find quite a few websites that allow a person to calculate the monthly installments he would require to pay on car loans based on the price of the car, the interest rates, and the tenure.
Getting “fast approval car loans” will be simpler if you can prove a good credit history and income. Keep in mind, low interest car loans and fast approval car loans do not go hand in hand all the time. In order to get a car loan approved within hours you may have to face high interest rates, ridiculously short repayment period or even lower loan amount! That would mean that you would have to shell out more money from your pockets in order to avoid high monthly payments on car loans. The challenge is finding a financial institution or a car dealer who offers low interest car loans together with a reasonably fast approval.
Buying a car involves big money. Do not stop after enquiring with a 2-3 dealers or banks. What you may think as low interest rate car loan may actually seem high if you look at what the fourth has to offer! Knowing what is on offer in the market will prevent those lightning bolts falling on your head when the dealer utters the interest rates and the monthly installments you are to pay on the car loan for the next 5 years.
The decision to take a car loan, or for that matter, any loan will affect your finances for a few years. Plan well before taking a so-called fast approval car loan. Try not to change your regular lifestyle drastically because of an expensive car. Think of your other financial commitments. Do not jump at the thought of buying a sexy looking sports car, when what you need regularly is a spacious family car for four and a pet. Think carefully about what you need and what you would love to have- if the difference turns out to be too much, use your practical sense!
Article Source: http://EzineArticles.com/?expert=Apurva_Shree http://EzineArticles.com/?Buying-A-Car---Preparing-Yourself-For-A-Car-Loan&id=578398
By [http://ezinearticles.com/?expert=Apurva_Shree]Apurva Shree
While buying a new car, the first thing that comes into ones mind is the price. Salaried people usually prefer to take car loans instead of paying the entire amount outright. Before you go to the showroom, prepare yourself with all the information you require to finance your new car purchase with a car loan and preferably a low interest car loan.
Take a long hard look at your financial condition and zero in on the budget – the maximum price you are willing to pay for the car of your choice. Once you have finalized that, decide on the amount of money you can afford to shell out as a down payment for the car loan. This would have a direct impact on what you can comfortably afford to pay every month as car loan repayment.
Do Your Homework Before Taking A Car Loan
Entering a car showroom without doing an extensive market research is foolhardy – you are at the mercy of the smiling car salesperson! With the advent of internet, market research has never been easier! Look around for dealers and banks offering low interest car loans. Use a search engine intelligently and you will find quite a few websites that allow a person to calculate the monthly installments he would require to pay on car loans based on the price of the car, the interest rates, and the tenure.
Getting “fast approval car loans” will be simpler if you can prove a good credit history and income. Keep in mind, low interest car loans and fast approval car loans do not go hand in hand all the time. In order to get a car loan approved within hours you may have to face high interest rates, ridiculously short repayment period or even lower loan amount! That would mean that you would have to shell out more money from your pockets in order to avoid high monthly payments on car loans. The challenge is finding a financial institution or a car dealer who offers low interest car loans together with a reasonably fast approval.
Buying a car involves big money. Do not stop after enquiring with a 2-3 dealers or banks. What you may think as low interest rate car loan may actually seem high if you look at what the fourth has to offer! Knowing what is on offer in the market will prevent those lightning bolts falling on your head when the dealer utters the interest rates and the monthly installments you are to pay on the car loan for the next 5 years.
The decision to take a car loan, or for that matter, any loan will affect your finances for a few years. Plan well before taking a so-called fast approval car loan. Try not to change your regular lifestyle drastically because of an expensive car. Think of your other financial commitments. Do not jump at the thought of buying a sexy looking sports car, when what you need regularly is a spacious family car for four and a pet. Think carefully about what you need and what you would love to have- if the difference turns out to be too much, use your practical sense!
When you are planning to buy a car and Need a Car loan, you should try to get a [http://www.lowinterestcarloan.info/lowinterestcarloans.html]low interest car loan. These days, its very easy to get a [http://www.lowinterestcarloan.info/instantcarloan.html]instant car loan. Read on more at [http://www.lowinterestcarloan.info]Low-Interest-Car-Loan.Info to find how you need to prepare yourself mentally and financially before making the big purchase.
Article Source: http://EzineArticles.com/?expert=Apurva_Shree http://EzineArticles.com/?Buying-A-Car---Preparing-Yourself-For-A-Car-Loan&id=578398
Friday, July 20, 2007
Credit Card Terminal
Getting A Credit Card Is A Big Responsibility
By Connie Gutchrif
Owning a credit card can be quite an advantage. Whether making
online purchases, booking an air ticket or a hotel room on the
phone or simply being in need of some emergency cash, having a
credit card can be a big help. However, getting a credit card
is also a huge responsibility and if you don't keep an eye on
your spending habits, credit cards can create some serious
problems. Here is an excellent list of tips on proper credit
card use and if you follow these, you will likely stay out of
trouble and your credit card will be a blessing instead of a
curse:
1. When you make a purchase with the credit card, it is akin to
taking a loan from your bank. What you have borrowed has to be
returned - so do not borrow beyond your capacity to pay it
back.
2. Always be aware of your outstanding credit card balances.
This will help you determine whether you can make additional
purchases. Even small purchases can really add up to big
balances and substantial interest charges.
3.Any credit card receipts should be kept until you can compare
them to your monthly statement. If you find any purchases you
did not make, or higher charges than those on the receipt,
contact your credit card company immediately.
4. Never give out your credit card to anyone! This includes
people in your family and any of your friends. It is not that
you cannot trust these individuals, but you cannot track
purchases you are not even making.
5. Never charge more than you can repay. When you do, you can
hurt your future chances of getting any kind of credit,
including car loans, home mortgages and other forms of loans.
6. Pay your credit card bills on time or even before they are
due. Doing so will not only help improve your credit scores,
but also help avoid additional costs associated with late
payment charges and accrued interest.
7.Try to pay all your credit card bills in full each and every
month. Have payments of a certain amount in your budget and try
not to purchase more than that amount.
8. Use your credit cards for new purchases only. Too many
people use one credit card to pay another credit card bill and
that always leads to more spending and higher balances.
About the Author: Connie Gutchrif is the President of FN
Credit, LLC - An excellent resource for information on credit.
To learn more, be sure to visit: http://www.fncredit.com
Source: http://www.isnare.com
By Connie Gutchrif
Owning a credit card can be quite an advantage. Whether making
online purchases, booking an air ticket or a hotel room on the
phone or simply being in need of some emergency cash, having a
credit card can be a big help. However, getting a credit card
is also a huge responsibility and if you don't keep an eye on
your spending habits, credit cards can create some serious
problems. Here is an excellent list of tips on proper credit
card use and if you follow these, you will likely stay out of
trouble and your credit card will be a blessing instead of a
curse:
1. When you make a purchase with the credit card, it is akin to
taking a loan from your bank. What you have borrowed has to be
returned - so do not borrow beyond your capacity to pay it
back.
2. Always be aware of your outstanding credit card balances.
This will help you determine whether you can make additional
purchases. Even small purchases can really add up to big
balances and substantial interest charges.
3.Any credit card receipts should be kept until you can compare
them to your monthly statement. If you find any purchases you
did not make, or higher charges than those on the receipt,
contact your credit card company immediately.
4. Never give out your credit card to anyone! This includes
people in your family and any of your friends. It is not that
you cannot trust these individuals, but you cannot track
purchases you are not even making.
5. Never charge more than you can repay. When you do, you can
hurt your future chances of getting any kind of credit,
including car loans, home mortgages and other forms of loans.
6. Pay your credit card bills on time or even before they are
due. Doing so will not only help improve your credit scores,
but also help avoid additional costs associated with late
payment charges and accrued interest.
7.Try to pay all your credit card bills in full each and every
month. Have payments of a certain amount in your budget and try
not to purchase more than that amount.
8. Use your credit cards for new purchases only. Too many
people use one credit card to pay another credit card bill and
that always leads to more spending and higher balances.
About the Author: Connie Gutchrif is the President of FN
Credit, LLC - An excellent resource for information on credit.
To learn more, be sure to visit: http://www.fncredit.com
Source: http://www.isnare.com
Wednesday, July 18, 2007
Credit Card Terminals
Want To Accept Credit Card Services?
By Shane Penrod
When your business has expanded to the point that you’re ready
to accept credit card services, it is time for an upgrade of
payment options so that your clients can pay by credit as well
as by cash or check. This is not a difficult process, but you
will need to get started promptly if you want to stay even with
or get ahead of the competition.
To become eligible to accept credit card services, you need to
apply for a merchant services account. This is a special bank
or financial account that an underwriter provides to back
credit payments from clients to you. Do an Internet search to
find financial institutions who offer this service; many do,
and they would love to have your business. All you need do is
check out the prices and terms and go with the best deal you
can get. Be careful to read the fine print, however, as there
can be hidden fees like print statement costs, gateway fees,
and Website maintenance if you go the Internet route. You also
may be asked to pay annual membership fees or application fees,
so do your homework before selecting a company where you will
seek a merchant account. You can quickly apply via the Internet
or by telephone, and you can generally expect a fairly prompt
reply. In a matter of a few days, you could be ready to start
accepting credit card payments from current and new customers.
Your clients will appreciate your willingness to accept credit
card services, since many dislike the hassle of paying by cash
or check. If you plan to offer credit card payment options at
the physical location of your company or organization, you will
need to purchase or lease a credit card processor that can be
plugged in, perhaps one with a combination terminal and
printer. If an employee or you plan to deliver goods and
services, however, you may prefer to invest in a wireless
credit card processor that you can take with you in the van
wherever you go. A pager might be another useful acquisition,
as well as an e-check or debit processor. Don’t overextend
yourself, however. Only purchase what you can afford to pay for
each month. You can always buy more equipment or upgrade to more
features when they are truly needed.
To accept credit card services at a company Website, find a
good Web designer who will put up a quality site for your
business. Your merchant account will let you accept credit
payments onsite, which allows you to reduce staffing loads and
yet bring in more income. Your Website can be viewed from
customers all around the world at any time of the day or night,
and you can likewise receive credit payments from any location.
Many merchants claim their profit rises dramatically after they
start accepting credit on a Website.
Don’t let prosperity pass you by. Find out how you can open a
merchant account and learn to accept credit card services on
the Internet.
About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
By Shane Penrod
When your business has expanded to the point that you’re ready
to accept credit card services, it is time for an upgrade of
payment options so that your clients can pay by credit as well
as by cash or check. This is not a difficult process, but you
will need to get started promptly if you want to stay even with
or get ahead of the competition.
To become eligible to accept credit card services, you need to
apply for a merchant services account. This is a special bank
or financial account that an underwriter provides to back
credit payments from clients to you. Do an Internet search to
find financial institutions who offer this service; many do,
and they would love to have your business. All you need do is
check out the prices and terms and go with the best deal you
can get. Be careful to read the fine print, however, as there
can be hidden fees like print statement costs, gateway fees,
and Website maintenance if you go the Internet route. You also
may be asked to pay annual membership fees or application fees,
so do your homework before selecting a company where you will
seek a merchant account. You can quickly apply via the Internet
or by telephone, and you can generally expect a fairly prompt
reply. In a matter of a few days, you could be ready to start
accepting credit card payments from current and new customers.
Your clients will appreciate your willingness to accept credit
card services, since many dislike the hassle of paying by cash
or check. If you plan to offer credit card payment options at
the physical location of your company or organization, you will
need to purchase or lease a credit card processor that can be
plugged in, perhaps one with a combination terminal and
printer. If an employee or you plan to deliver goods and
services, however, you may prefer to invest in a wireless
credit card processor that you can take with you in the van
wherever you go. A pager might be another useful acquisition,
as well as an e-check or debit processor. Don’t overextend
yourself, however. Only purchase what you can afford to pay for
each month. You can always buy more equipment or upgrade to more
features when they are truly needed.
To accept credit card services at a company Website, find a
good Web designer who will put up a quality site for your
business. Your merchant account will let you accept credit
payments onsite, which allows you to reduce staffing loads and
yet bring in more income. Your Website can be viewed from
customers all around the world at any time of the day or night,
and you can likewise receive credit payments from any location.
Many merchants claim their profit rises dramatically after they
start accepting credit on a Website.
Don’t let prosperity pass you by. Find out how you can open a
merchant account and learn to accept credit card services on
the Internet.
About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
Monday, July 16, 2007
Credit Card Terminals
Top Credit Card Mistakes
By Sandra Lovelace
When you’re dealing with credit cards, you’re playing with
fire. Unfortunately, there are plenty of people out there who
don’t realise that, and make all sorts of dangerous mistakes
with their credit cards every day.
Paying Late.
If you don’t set up any kind of automatic payment, then it can
be tempting to just put your credit card bill on a pile and get
to it when you have time. Before you know it, a few weeks have
gone by and you’re late. If you leave it to the deadline, you
might find that the payment won’t get there quickly enough –
it’s not a deadline for sending the money, it’s a deadline for
them receiving it.
Paying late is a big mistake for an awful lot of reasons. You
will almost certainly be charged a late payment fee, and your
late payment will go on your credit report for everyone to see.
You may also find that you lose any good rate you had, and your
debt is automatically thrown onto the very worst rate the
company offers.
To avoid late payment, you should always post your payment a
long time before the due date (at least a week). If you’ve left
it to the last minute, phone up and try to pay that way.
Being Taken in By Rewards.
It is never, ever worth getting a higher-interest card simply
because it offers some kind of loyalty points, flight miles or
whatever. Even if it offers a cash reward, it is unlikely to be
more than you would pay in extra interest – after all, why would
they give you free money? All ‘rewards’ do is pay you off with
your own money to make you feel like you’re getting something
for nothing. You’re not.
Collecting Cards.
Seeing some people opening their wallet or bag is a scary
experience. It looks like they have about a hundred credit
cards in there, some of which they haven’t used in years. They
have trouble keeping track of all the different cards, balances
and interest rates. Don’t be one of these people. You should
limit yourself to a maximum of three cards at a time – any more
starts to make you look over-committed in your credit report,
and could get you turned down for a bigger loan.
Maxing Them Out.
Your limit is just that: a limit, not a minimum! Whatever you
do, don’t get a card and immediately spend your whole limit.
This looks very bad. It is better to spend about halfway
regularly and pay it back. Wait for the company to increase
your limit (which they quickly will), and then you’ll get that
extra money without the stigma of having a maxed-out card.
Not Reading the Terms and Conditions.
Finally, as ever, don’t sign anything you haven’t read! I know
it’s hard going and you’re busy and all, but if you can’t
manage to read the terms and conditions then you shouldn’t get
the card. Pay special attention to any future increases in
rates, and what kind of fees you can be charged.
About the Author: Sandra is a credit advisor who has helped
hundreds regain their credit scores to respectable levels. Her
blog can be found online at http://www.mycredit-card.com.
Source: http://www.isnare.com
By Sandra Lovelace
When you’re dealing with credit cards, you’re playing with
fire. Unfortunately, there are plenty of people out there who
don’t realise that, and make all sorts of dangerous mistakes
with their credit cards every day.
Paying Late.
If you don’t set up any kind of automatic payment, then it can
be tempting to just put your credit card bill on a pile and get
to it when you have time. Before you know it, a few weeks have
gone by and you’re late. If you leave it to the deadline, you
might find that the payment won’t get there quickly enough –
it’s not a deadline for sending the money, it’s a deadline for
them receiving it.
Paying late is a big mistake for an awful lot of reasons. You
will almost certainly be charged a late payment fee, and your
late payment will go on your credit report for everyone to see.
You may also find that you lose any good rate you had, and your
debt is automatically thrown onto the very worst rate the
company offers.
To avoid late payment, you should always post your payment a
long time before the due date (at least a week). If you’ve left
it to the last minute, phone up and try to pay that way.
Being Taken in By Rewards.
It is never, ever worth getting a higher-interest card simply
because it offers some kind of loyalty points, flight miles or
whatever. Even if it offers a cash reward, it is unlikely to be
more than you would pay in extra interest – after all, why would
they give you free money? All ‘rewards’ do is pay you off with
your own money to make you feel like you’re getting something
for nothing. You’re not.
Collecting Cards.
Seeing some people opening their wallet or bag is a scary
experience. It looks like they have about a hundred credit
cards in there, some of which they haven’t used in years. They
have trouble keeping track of all the different cards, balances
and interest rates. Don’t be one of these people. You should
limit yourself to a maximum of three cards at a time – any more
starts to make you look over-committed in your credit report,
and could get you turned down for a bigger loan.
Maxing Them Out.
Your limit is just that: a limit, not a minimum! Whatever you
do, don’t get a card and immediately spend your whole limit.
This looks very bad. It is better to spend about halfway
regularly and pay it back. Wait for the company to increase
your limit (which they quickly will), and then you’ll get that
extra money without the stigma of having a maxed-out card.
Not Reading the Terms and Conditions.
Finally, as ever, don’t sign anything you haven’t read! I know
it’s hard going and you’re busy and all, but if you can’t
manage to read the terms and conditions then you shouldn’t get
the card. Pay special attention to any future increases in
rates, and what kind of fees you can be charged.
About the Author: Sandra is a credit advisor who has helped
hundreds regain their credit scores to respectable levels. Her
blog can be found online at http://www.mycredit-card.com.
Source: http://www.isnare.com
Saturday, July 14, 2007
Credit Card Terminals
Credit Card Processing Terminals
By [http://ezinearticles.com/?expert=Thomas_Morva]Thomas Morva
Today, about 80% of customers choose credit cards to pay for online products and services. If an online firm doesn?t possess credit card payment facilities, certainly it loses consumers and sales. Credit card payments are safe and secure, and they guarantee the best customer service. Besides, these payments give a more professional look to any business.
Several different types of credit card processing terminals are available in today's market. These terminals are also referred to as point of sale (POS) terminals. Their type and style depend on the kind of business and style of credit card processing. Prices also vary according to their functions and the technology they use.
Card readers with a small keypad and display are the most basic form of the POS. These are the most economical type of terminals. A credit card processing terminal first checks the customer?s card information. After that, it withdraws money for the purchase from his account and places it directly into the merchant account.
Most merchants prefer a terminal without an attached printer, while retail merchants usually go for a terminal with an integrated printer. There are also wireless machines that are more costly, but the processing volume supports their cost. Wireless credit card processing terminals are mainly used for businesses that continually change their location. Door-to-door salesmen, taxi cab drivers, and seasonal shop owners are the main other consumers of wireless terminals.
Manual credit card processing is a difficult task and it is more time consuming too. The finest choice is to automate your manual credit card processing machine, if possible. Credit card processing machines use different software packages that provide for instant processing, and encrypted SSL (secure socket layer) for safe deals. Of course, any leaks or losses of personal information immediately break the credibility of a business.
Some latest credit card processing terminals can handle multiple merchant accounts. Examples include Nurit 2085, Omni 3750, Nurit 3020, Omni 3740, and Verifone Tranz 380x2. All these terminals provide retailers a fast, low-cost way to approve and process credit card sales. [http://www.i-CreditCardProcessing.com]Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with [http://www.e-CreditCardTerminals.com]Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva http://EzineArticles.com/?Credit-Card-Processing-Terminals&id=353153
By [http://ezinearticles.com/?expert=Thomas_Morva]Thomas Morva
Today, about 80% of customers choose credit cards to pay for online products and services. If an online firm doesn?t possess credit card payment facilities, certainly it loses consumers and sales. Credit card payments are safe and secure, and they guarantee the best customer service. Besides, these payments give a more professional look to any business.
Several different types of credit card processing terminals are available in today's market. These terminals are also referred to as point of sale (POS) terminals. Their type and style depend on the kind of business and style of credit card processing. Prices also vary according to their functions and the technology they use.
Card readers with a small keypad and display are the most basic form of the POS. These are the most economical type of terminals. A credit card processing terminal first checks the customer?s card information. After that, it withdraws money for the purchase from his account and places it directly into the merchant account.
Most merchants prefer a terminal without an attached printer, while retail merchants usually go for a terminal with an integrated printer. There are also wireless machines that are more costly, but the processing volume supports their cost. Wireless credit card processing terminals are mainly used for businesses that continually change their location. Door-to-door salesmen, taxi cab drivers, and seasonal shop owners are the main other consumers of wireless terminals.
Manual credit card processing is a difficult task and it is more time consuming too. The finest choice is to automate your manual credit card processing machine, if possible. Credit card processing machines use different software packages that provide for instant processing, and encrypted SSL (secure socket layer) for safe deals. Of course, any leaks or losses of personal information immediately break the credibility of a business.
Some latest credit card processing terminals can handle multiple merchant accounts. Examples include Nurit 2085, Omni 3750, Nurit 3020, Omni 3740, and Verifone Tranz 380x2. All these terminals provide retailers a fast, low-cost way to approve and process credit card sales. [http://www.i-CreditCardProcessing.com]Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with [http://www.e-CreditCardTerminals.com]Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva http://EzineArticles.com/?Credit-Card-Processing-Terminals&id=353153
Friday, July 13, 2007
Credit Card Terminals
Online Credit Card Account Access
By Adam Goldman
Credit cards, the Internet and online services all pave the
path towards a new era of technological advancements and
commercialised lifestyles. Nowadays, you won’t have to fly
halfway around the world or drive across town to purchase
authentic gifts for a loved one. Instead, you can just order it
online at home. Your gift will be wrapped and delivered right to
your door step. All you need is a secure connection, a working
credit card account and a little understanding of how to manage
an online account.
In fact, if you find it hard to keep your bills in order or
can’t find the time to drop in at the bank, then having an
online credit card account is the best way to solve your
problems. With this, you can actually manage all your finances
without you ever leaving your office, or even your desk. You
can make instant payments on the spot, check past transactions
easily and immediately print statements that would regularly
take weeks to get to your mailbox.
With all this convenience, anyone is bound to worry about the
security of having an online credit card account. If you are
able to access your account with your name, ID or a simple
password, it is possible for a thief who has the right
combination of these elements to access to your account. Thus,
it is important that you do not give out your personal
information to strangers or even callers over the phone.
Also, before you enter any sensitive information on your
browser, ensure that your browser is a secured browser that
utilizes Secure Sockets Layer (SSL) that encrypts data before
transmitting it to the server. Most banking websites utilize
secured web pages indicated by a locked padlock sign at the
bottom of the browser. Naturally, credit card users are advised
to not make financial transactions over public computers. Online
access can be a godsend to most of us who lead a busy lifestyle
but if we are not careful, we may lose our finances and
property to thieving scoundrels at the click of a mouse.
About the Author: Adam Goldman recommends Find Credit Cards for
finding a Visa card application. See
http://www.findcreditcards.org/issuer/visa.php for more
information
Source: http://www.isnare.com
By Adam Goldman
Credit cards, the Internet and online services all pave the
path towards a new era of technological advancements and
commercialised lifestyles. Nowadays, you won’t have to fly
halfway around the world or drive across town to purchase
authentic gifts for a loved one. Instead, you can just order it
online at home. Your gift will be wrapped and delivered right to
your door step. All you need is a secure connection, a working
credit card account and a little understanding of how to manage
an online account.
In fact, if you find it hard to keep your bills in order or
can’t find the time to drop in at the bank, then having an
online credit card account is the best way to solve your
problems. With this, you can actually manage all your finances
without you ever leaving your office, or even your desk. You
can make instant payments on the spot, check past transactions
easily and immediately print statements that would regularly
take weeks to get to your mailbox.
With all this convenience, anyone is bound to worry about the
security of having an online credit card account. If you are
able to access your account with your name, ID or a simple
password, it is possible for a thief who has the right
combination of these elements to access to your account. Thus,
it is important that you do not give out your personal
information to strangers or even callers over the phone.
Also, before you enter any sensitive information on your
browser, ensure that your browser is a secured browser that
utilizes Secure Sockets Layer (SSL) that encrypts data before
transmitting it to the server. Most banking websites utilize
secured web pages indicated by a locked padlock sign at the
bottom of the browser. Naturally, credit card users are advised
to not make financial transactions over public computers. Online
access can be a godsend to most of us who lead a busy lifestyle
but if we are not careful, we may lose our finances and
property to thieving scoundrels at the click of a mouse.
About the Author: Adam Goldman recommends Find Credit Cards for
finding a Visa card application. See
http://www.findcreditcards.org/issuer/visa.php for more
information
Source: http://www.isnare.com
Monday, July 9, 2007
Credit Card Termainals
Credit Card Processing - Credit Card Factoring Solutions
By [http://ezinearticles.com/?expert=Stephen_Bush]Stephen Bush
Credit card processing is frequently one of the most problematic and overlooked issues for a business owner. An effective credit card factoring program can reduce many credit card processing problems by implementing appropriate cost-reduction strategies. Credit card factoring improvements can produce dual business benefits by both eliminating credit card processing problems and providing improved cash flow by enhanced management of business cash advance programs.
CREDIT CARD PROCESSING AND CREDIT CARD FACTORING SOLUTIONS:
Reduce Credit Card Processing Costs Via the Credit Card Factoring and Business Cash Advance Process
As I noted in an earlier business loan article, for any business that accepts credit cards as a method of payment, a business cash advance (obtained through credit card factoring) is a critical working capital financing tool that is often overlooked. Even thriving businesses frequently need more working capital than they can borrow from a bank. However, what is typically even more overlooked by many business owners is the opportunity to reduce their credit card processing costs at the same time that they obtain a business cash advance via credit card factoring.
CREDIT CARD PROCESSING AND CREDIT CARD FACTORING SOLUTIONS:
Key Problems to Avoid with Credit Card Factoring and Credit Card Processing
Credit card factoring is an important option to consider when a business is seeking short-term commercial loans, unsecured business loans and improved approaches to credit card processing services. Unfortunately there are a number of problems to be avoided with credit card processing and credit card factoring programs. As with any successful business financing strategy, there will typically be only a small number of commercial lenders who are effective at implementing the joint tasks of credit card processing and credit card factoring strategies properly.
Because of this, the prudent choice of an appropriate provider of credit card processing and credit card factoring is extremely important to any business owner that accepts credit cards. To help demonstrate which providers of credit card processing and credit card factoring to avoid, I have written an article which identifies ten key problems which should be avoided with credit card factoring and credit card processing.
CREDIT CARD PROCESSING AND CREDIT CARD FACTORING SOLUTIONS:
How to Obtain The Best and Lowest-Cost Credit Card Processing Services
For business owners either unhappy with their current credit card processing services or simply wondering if cost improvements are viable, a credit card factoring program which eliminates all of the ten key problems noted above should be considered. One of the primary reasons for evaluating credit card processing and credit card factoring in this coordinated fashion is that the low-cost producers of the best business cash advance programs will almost certainly be using the best and lowest-cost producers of credit card processing services. In many cases, the best and lowest-cost providers of credit card processing are simply not available to the average business owner other than as part of a working capital management plan encompassing both credit card factoring and credit card processing.
CREDIT CARD PROCESSING AND CREDIT CARD FACTORING SOLUTIONS:
Cost Reduction and Improved Cash Flow for Successful Working Capital Management
Business owners should not lose sight of the substantial total benefits which might accrue to their business by effectively combining credit card processing and credit card factoring services. As noted above, cost reduction and improved cash flow are primary goals of successful working capital management, and the proper coordination of credit card factoring and credit card processing should accomplish both of these difficult goals simultaneously.
Stephen Bush is the CEO of [http://www.commercial-mortgage-solutions.org]AEX Commercial Financing Group, LLC. Steve provides [http://www.working-capital-management.org]working capital loan and [http://www.church-loan-financing.org]church financing assistance throughout the United States. Information about free online Business Financing Reports and a free online Commercial Real Estate Financing Course is available at select AEX Commercial Financing Group, LLC websites.
Copyright 2005-2007 AEX Commercial Financing Group, LLC. All Rights Reserved.
Article Source: http://EzineArticles.com/?expert=Stephen_Bush http://EzineArticles.com/?Credit-Card-Processing---Credit-Card-Factoring-Solutions&id=516517
By [http://ezinearticles.com/?expert=Stephen_Bush]Stephen Bush
Credit card processing is frequently one of the most problematic and overlooked issues for a business owner. An effective credit card factoring program can reduce many credit card processing problems by implementing appropriate cost-reduction strategies. Credit card factoring improvements can produce dual business benefits by both eliminating credit card processing problems and providing improved cash flow by enhanced management of business cash advance programs.
CREDIT CARD PROCESSING AND CREDIT CARD FACTORING SOLUTIONS:
Reduce Credit Card Processing Costs Via the Credit Card Factoring and Business Cash Advance Process
As I noted in an earlier business loan article, for any business that accepts credit cards as a method of payment, a business cash advance (obtained through credit card factoring) is a critical working capital financing tool that is often overlooked. Even thriving businesses frequently need more working capital than they can borrow from a bank. However, what is typically even more overlooked by many business owners is the opportunity to reduce their credit card processing costs at the same time that they obtain a business cash advance via credit card factoring.
CREDIT CARD PROCESSING AND CREDIT CARD FACTORING SOLUTIONS:
Key Problems to Avoid with Credit Card Factoring and Credit Card Processing
Credit card factoring is an important option to consider when a business is seeking short-term commercial loans, unsecured business loans and improved approaches to credit card processing services. Unfortunately there are a number of problems to be avoided with credit card processing and credit card factoring programs. As with any successful business financing strategy, there will typically be only a small number of commercial lenders who are effective at implementing the joint tasks of credit card processing and credit card factoring strategies properly.
Because of this, the prudent choice of an appropriate provider of credit card processing and credit card factoring is extremely important to any business owner that accepts credit cards. To help demonstrate which providers of credit card processing and credit card factoring to avoid, I have written an article which identifies ten key problems which should be avoided with credit card factoring and credit card processing.
CREDIT CARD PROCESSING AND CREDIT CARD FACTORING SOLUTIONS:
How to Obtain The Best and Lowest-Cost Credit Card Processing Services
For business owners either unhappy with their current credit card processing services or simply wondering if cost improvements are viable, a credit card factoring program which eliminates all of the ten key problems noted above should be considered. One of the primary reasons for evaluating credit card processing and credit card factoring in this coordinated fashion is that the low-cost producers of the best business cash advance programs will almost certainly be using the best and lowest-cost producers of credit card processing services. In many cases, the best and lowest-cost providers of credit card processing are simply not available to the average business owner other than as part of a working capital management plan encompassing both credit card factoring and credit card processing.
CREDIT CARD PROCESSING AND CREDIT CARD FACTORING SOLUTIONS:
Cost Reduction and Improved Cash Flow for Successful Working Capital Management
Business owners should not lose sight of the substantial total benefits which might accrue to their business by effectively combining credit card processing and credit card factoring services. As noted above, cost reduction and improved cash flow are primary goals of successful working capital management, and the proper coordination of credit card factoring and credit card processing should accomplish both of these difficult goals simultaneously.
Stephen Bush is the CEO of [http://www.commercial-mortgage-solutions.org]AEX Commercial Financing Group, LLC. Steve provides [http://www.working-capital-management.org]working capital loan and [http://www.church-loan-financing.org]church financing assistance throughout the United States. Information about free online Business Financing Reports and a free online Commercial Real Estate Financing Course is available at select AEX Commercial Financing Group, LLC websites.
Copyright 2005-2007 AEX Commercial Financing Group, LLC. All Rights Reserved.
Article Source: http://EzineArticles.com/?expert=Stephen_Bush http://EzineArticles.com/?Credit-Card-Processing---Credit-Card-Factoring-Solutions&id=516517
Friday, July 6, 2007
Credit Card Terminals
Credit Card Processing Terminals
By [http://ezinearticles.com/?expert=Thomas_Morva]Thomas Morva
Today, about 80% of customers choose credit cards to pay for online products and services. If an online firm doesn?t possess credit card payment facilities, certainly it loses consumers and sales. Credit card payments are safe and secure, and they guarantee the best customer service. Besides, these payments give a more professional look to any business.
Several different types of credit card processing terminals are available in today's market. These terminals are also referred to as point of sale (POS) terminals. Their type and style depend on the kind of business and style of credit card processing. Prices also vary according to their functions and the technology they use.
Card readers with a small keypad and display are the most basic form of the POS. These are the most economical type of terminals. A credit card processing terminal first checks the customer?s card information. After that, it withdraws money for the purchase from his account and places it directly into the merchant account.
Most merchants prefer a terminal without an attached printer, while retail merchants usually go for a terminal with an integrated printer. There are also wireless machines that are more costly, but the processing volume supports their cost. Wireless credit card processing terminals are mainly used for businesses that continually change their location. Door-to-door salesmen, taxi cab drivers, and seasonal shop owners are the main other consumers of wireless terminals.
Manual credit card processing is a difficult task and it is more time consuming too. The finest choice is to automate your manual credit card processing machine, if possible. Credit card processing machines use different software packages that provide for instant processing, and encrypted SSL (secure socket layer) for safe deals. Of course, any leaks or losses of personal information immediately break the credibility of a business.
Some latest credit card processing terminals can handle multiple merchant accounts. Examples include Nurit 2085, Omni 3750, Nurit 3020, Omni 3740, and Verifone Tranz 380x2. All these terminals provide retailers a fast, low-cost way to approve and process credit card sales. [http://www.i-CreditCardProcessing.com]Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with [http://www.e-CreditCardTerminals.com]Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva http://EzineArticles.com/?Credit-Card-Processing-Terminals&id=353153
By [http://ezinearticles.com/?expert=Thomas_Morva]Thomas Morva
Today, about 80% of customers choose credit cards to pay for online products and services. If an online firm doesn?t possess credit card payment facilities, certainly it loses consumers and sales. Credit card payments are safe and secure, and they guarantee the best customer service. Besides, these payments give a more professional look to any business.
Several different types of credit card processing terminals are available in today's market. These terminals are also referred to as point of sale (POS) terminals. Their type and style depend on the kind of business and style of credit card processing. Prices also vary according to their functions and the technology they use.
Card readers with a small keypad and display are the most basic form of the POS. These are the most economical type of terminals. A credit card processing terminal first checks the customer?s card information. After that, it withdraws money for the purchase from his account and places it directly into the merchant account.
Most merchants prefer a terminal without an attached printer, while retail merchants usually go for a terminal with an integrated printer. There are also wireless machines that are more costly, but the processing volume supports their cost. Wireless credit card processing terminals are mainly used for businesses that continually change their location. Door-to-door salesmen, taxi cab drivers, and seasonal shop owners are the main other consumers of wireless terminals.
Manual credit card processing is a difficult task and it is more time consuming too. The finest choice is to automate your manual credit card processing machine, if possible. Credit card processing machines use different software packages that provide for instant processing, and encrypted SSL (secure socket layer) for safe deals. Of course, any leaks or losses of personal information immediately break the credibility of a business.
Some latest credit card processing terminals can handle multiple merchant accounts. Examples include Nurit 2085, Omni 3750, Nurit 3020, Omni 3740, and Verifone Tranz 380x2. All these terminals provide retailers a fast, low-cost way to approve and process credit card sales. [http://www.i-CreditCardProcessing.com]Credit Card Processing provides detailed information on Credit Card Processing, Online Credit Card Processing, Credit Card Processing Software, Wireless Credit Card Processing and more. Credit Card Processing is affiliated with [http://www.e-CreditCardTerminals.com]Wireless Credit Card Terminals.
Article Source: http://EzineArticles.com/?expert=Thomas_Morva http://EzineArticles.com/?Credit-Card-Processing-Terminals&id=353153
Wednesday, July 4, 2007
Credit Card Terminals
Why You Should Refinance Your Credit Card
By Max Hunter
Getting the Right Rate Can Save YOU Thousands
A credit card debt can be like the worst sort of trap. Like a
wound that won’t heal, a monthly minimum payment – with
ceaseless regularity and endless strain on your budget – leaves
your account. It’s to pay for the Christmas shopping, or the
last July 4th party, or your holiday two years ago. You don’t
know; frankly you care less – you just want to see it gone. But
when your next statement arrives, the hole your minimum payment
should have burned in your debt is no smaller – the sore
remains unclosed.
Is this situation familiar? Is it you?
If it is, you’ve not heard the worst of it yet. The way that
credit card companies exist and thrive is by exploiting your
debt burden. They’ll lend and lend and lend, until you get to
the point that the most you can pay back each month is the
minimum payment – usually around 2.5 per cent of the balance.
The problem with this is that they hit you with a load of
interest, sometimes amounting to 2 per cent of the balance. If
only one half of a per cent is being paid back it doesn’t take
much math to figure out the amount of time it could take you to
pay back your debts.
In fact, if you’re paying repayment insurance, in some
instances you can pay back less than the amount of debt
accumulating.
It’s a horrible, self-perpetuating cycle of hemorrhaging money,
but the good news is twofold.
First off, you’re not alone. Thousands upon thousands of
decent, hard-working Americans are in this position through no
fault of their own but necessity and the demands of modern
living.
Secondly, if you’re stuck in this horrible cycle of bleeding
money, the chances are that it can be at least partially
redressed. Many Americans have – and still do – unwittingly
signed up to credit card deals that are uncompetitive,
over-priced and unnecessarily expensive. What many don’t
realize, is that simply because you have pledged allegiance to
a particular credit card company doesn’t mean to say that you
are stuck with them for life. There’s a way out that can save
you hundreds, if not thousands of dollars a year and help you
pay off your debt burden more quickly.
Transferring the balance of your credit card to another one is
a way of paying off your existing debt with a new credit card
that you take on at a cheaper rate. In many cases this can be
set at 0 per cent for a period of a number of months, before
reverting to a higher rate. By switching to such a card – and
then another at the end of the interest free term, and maybe
even another after that, it gives you a clear run at reducing
your debt, without it spiraling ever further upwards. Even if
you’re still only paying 2.5 per cent off the balance a month,
far better to do that than knocking off one half of a per cent,
or less.
By bundling up the old expensive credit card debt, getting rid
of it, then paying back the new credit card at a lower rate,
you can save countless dollars each month. You can save even
more money by paying a bit more each month, thus clearing the
debt in a shorter time. By doing this you’ll free up more
dollars further down the line enabling you to spend them on
something really nice.
Unfortunately, 0% deals are not always available to all
customers. If you’ve got a credit rating that’s in some way
below scratch, it is probably unlikely that a 0% credit card
will be made available to you. It’s a sad fact of finance that
the best deals seem to always be available for those who need
them the least.
That said, there are a number of other excellent credit cards
on the market through which you can save many dollars. Even if
a balance transfer rate is as high as 10 or 12 per cent, if
you’re paying upwards of 20 per cent on your existing deal then
you’re clearly going to save a stack of money – even if it’s not
as much as you might have liked.
If you’re concerned about how much you’re paying each month on
your credit card repayment it certainly pays to check out your
existing interest rates and compare them to some of the balance
transfer rates available at competitors: it’s almost a certainty
that you’ll save yourself more than a few dollars.
Even if you’re not worried about your existing credit card
deal, it’s worth checking out the market to see if you can get
a better deal. Complacency doesn’t pay, but a bit of awareness
can save you a lot.
About the Author: Max Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any other type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
By Max Hunter
Getting the Right Rate Can Save YOU Thousands
A credit card debt can be like the worst sort of trap. Like a
wound that won’t heal, a monthly minimum payment – with
ceaseless regularity and endless strain on your budget – leaves
your account. It’s to pay for the Christmas shopping, or the
last July 4th party, or your holiday two years ago. You don’t
know; frankly you care less – you just want to see it gone. But
when your next statement arrives, the hole your minimum payment
should have burned in your debt is no smaller – the sore
remains unclosed.
Is this situation familiar? Is it you?
If it is, you’ve not heard the worst of it yet. The way that
credit card companies exist and thrive is by exploiting your
debt burden. They’ll lend and lend and lend, until you get to
the point that the most you can pay back each month is the
minimum payment – usually around 2.5 per cent of the balance.
The problem with this is that they hit you with a load of
interest, sometimes amounting to 2 per cent of the balance. If
only one half of a per cent is being paid back it doesn’t take
much math to figure out the amount of time it could take you to
pay back your debts.
In fact, if you’re paying repayment insurance, in some
instances you can pay back less than the amount of debt
accumulating.
It’s a horrible, self-perpetuating cycle of hemorrhaging money,
but the good news is twofold.
First off, you’re not alone. Thousands upon thousands of
decent, hard-working Americans are in this position through no
fault of their own but necessity and the demands of modern
living.
Secondly, if you’re stuck in this horrible cycle of bleeding
money, the chances are that it can be at least partially
redressed. Many Americans have – and still do – unwittingly
signed up to credit card deals that are uncompetitive,
over-priced and unnecessarily expensive. What many don’t
realize, is that simply because you have pledged allegiance to
a particular credit card company doesn’t mean to say that you
are stuck with them for life. There’s a way out that can save
you hundreds, if not thousands of dollars a year and help you
pay off your debt burden more quickly.
Transferring the balance of your credit card to another one is
a way of paying off your existing debt with a new credit card
that you take on at a cheaper rate. In many cases this can be
set at 0 per cent for a period of a number of months, before
reverting to a higher rate. By switching to such a card – and
then another at the end of the interest free term, and maybe
even another after that, it gives you a clear run at reducing
your debt, without it spiraling ever further upwards. Even if
you’re still only paying 2.5 per cent off the balance a month,
far better to do that than knocking off one half of a per cent,
or less.
By bundling up the old expensive credit card debt, getting rid
of it, then paying back the new credit card at a lower rate,
you can save countless dollars each month. You can save even
more money by paying a bit more each month, thus clearing the
debt in a shorter time. By doing this you’ll free up more
dollars further down the line enabling you to spend them on
something really nice.
Unfortunately, 0% deals are not always available to all
customers. If you’ve got a credit rating that’s in some way
below scratch, it is probably unlikely that a 0% credit card
will be made available to you. It’s a sad fact of finance that
the best deals seem to always be available for those who need
them the least.
That said, there are a number of other excellent credit cards
on the market through which you can save many dollars. Even if
a balance transfer rate is as high as 10 or 12 per cent, if
you’re paying upwards of 20 per cent on your existing deal then
you’re clearly going to save a stack of money – even if it’s not
as much as you might have liked.
If you’re concerned about how much you’re paying each month on
your credit card repayment it certainly pays to check out your
existing interest rates and compare them to some of the balance
transfer rates available at competitors: it’s almost a certainty
that you’ll save yourself more than a few dollars.
Even if you’re not worried about your existing credit card
deal, it’s worth checking out the market to see if you can get
a better deal. Complacency doesn’t pay, but a bit of awareness
can save you a lot.
About the Author: Max Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any other type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
Tuesday, July 3, 2007
Credit Card Terminals
The Benefits Of A Credit Card Terminal
By Mike Singh
Having a credit card terminal in your business can greatly benefit it if used properly. So many people now use credit cards for buying and selling that a credit card terminal is almost necessary. Without a terminal you can stand to lose profits if you are not careful.
Technology that is now available in regards to cards and having a credit card terminal is part of what can bring success to businesses. If you do order a terminal you will find that there are willing people to help you to install it just by dialing the telephone. They will walk you through every single step and even help you figure out how exactly to use it. Just remember any hassle that seems to come from having a terminal can be balanced out by more sales be created by its instillation.
There is the option of either buying a terminal straight out or leasing it from a licensed dealer and this can offer more options and convenience. Even if you are a brand new business just starting you can find a dealer who would be more than willing to rent you a terminal, it just takes a little legwork to find it. In the end it can only make your business stronger and more successful.
Of course your customers should be aware that there might be some small fees when it comes to terminals. There are different companies that provide terminals and some will have a certain percentage charged for each transaction that is completed on the terminal. A fee may also be charged to the business owner, but is so minimal that it doesn't even affect the benefits you will receive from having a wider customer base because of it.
You can find businesses online that sell terminals as well as those that lease them. You may have to search for a while to find a good price but they are out there. There is usually a satisfaction guarantee presented with most of these companies. You should be very careful when giving out any information if the site is not secured, but with some work you can find a great company with a terminal for you and your business.
Something that is very beneficial about having a credit card terminal is that it makes it more convenient for your customers and therefore will help increase your customer base. It is also a safer way to go then more traditional payment methods such as cash, which can be stolen, or checks that may bounce and cause you financial stress later on. Having a terminal will help guarantee that you will get paid.
As you can see there are many advantages to having a credit card terminal installed in your business. It is also a very simple and easy thing to get started with and there are different options in acquiring one that can just about make it easy for anyone to get one. So go ahead get a terminal and start making more money today.
Check out http://www.my-credit-center.com/ for more articles on accepting credit card online and business credit card with reward.
Article Source: http://EzineArticles.com/?expert=Mike_Singh
http://EzineArticles.com/?The-Benefits-Of-A-Credit-Card-Terminal&id=284480
By Mike Singh
Having a credit card terminal in your business can greatly benefit it if used properly. So many people now use credit cards for buying and selling that a credit card terminal is almost necessary. Without a terminal you can stand to lose profits if you are not careful.
Technology that is now available in regards to cards and having a credit card terminal is part of what can bring success to businesses. If you do order a terminal you will find that there are willing people to help you to install it just by dialing the telephone. They will walk you through every single step and even help you figure out how exactly to use it. Just remember any hassle that seems to come from having a terminal can be balanced out by more sales be created by its instillation.
There is the option of either buying a terminal straight out or leasing it from a licensed dealer and this can offer more options and convenience. Even if you are a brand new business just starting you can find a dealer who would be more than willing to rent you a terminal, it just takes a little legwork to find it. In the end it can only make your business stronger and more successful.
Of course your customers should be aware that there might be some small fees when it comes to terminals. There are different companies that provide terminals and some will have a certain percentage charged for each transaction that is completed on the terminal. A fee may also be charged to the business owner, but is so minimal that it doesn't even affect the benefits you will receive from having a wider customer base because of it.
You can find businesses online that sell terminals as well as those that lease them. You may have to search for a while to find a good price but they are out there. There is usually a satisfaction guarantee presented with most of these companies. You should be very careful when giving out any information if the site is not secured, but with some work you can find a great company with a terminal for you and your business.
Something that is very beneficial about having a credit card terminal is that it makes it more convenient for your customers and therefore will help increase your customer base. It is also a safer way to go then more traditional payment methods such as cash, which can be stolen, or checks that may bounce and cause you financial stress later on. Having a terminal will help guarantee that you will get paid.
As you can see there are many advantages to having a credit card terminal installed in your business. It is also a very simple and easy thing to get started with and there are different options in acquiring one that can just about make it easy for anyone to get one. So go ahead get a terminal and start making more money today.
Check out http://www.my-credit-center.com/ for more articles on accepting credit card online and business credit card with reward.
Article Source: http://EzineArticles.com/?expert=Mike_Singh
http://EzineArticles.com/?The-Benefits-Of-A-Credit-Card-Terminal&id=284480
Monday, May 14, 2007
Credit Card Terminals
Making A Credit Card Work For You
By Max Hunter
Boosting Your Credit-Rating With A Well-Managed Credit Card
A considerable obstacle standing between many Americans and the
consumer goods they consider a necessary or desirable part of
life is a ready way to pay for them. From a new piece of
furniture to a car or even a house an age old problem stands in
their way: MONEY – or rather how to get hold of it.
A lucky few earn enough to never have to worry about this
problem. Many more consumers have lenders simply falling over
themselves with offers of credit. For a lot of people, however,
a poor credit history or a low credit rating stands as an
inexorable difference between living the life they want, and
looking with perpetual envy at their neighbor. Even relatively
low cost essentials, such as a vacuum cleaner or television
set, can be too expensive if a way of spreading the initial
cost is not available.
But it doesn’t have to be that way. Credit is available for
those with a lower credit scores, but better still: Borrowing
even relatively small amounts can be a great way for borrowers
with a "chequered past" to improve their credit rating. A
better credit score can lead to an array of greater awards in
the future, including better APR deals and larger credit lines.
If you have a poor credit rating and dreams of one day buying a
house, a credit card is the first logical step to pulling up
your record and getting a mortgage.
Making regular monthly payments to an agreed timescale on a
credit card is – short of scooping a massive inheritance from a
long lost millionaire aunt – one of the single best ways to
improve your credit score. So long as you don’t take on more
debt than you can afford, credit cars are ideal: payments are
reasonably sized and flexible, and if you budget properly can
be structured towards an ultimate payoff
Moreover, you have to be wise to how credit card companies
work. Credit cards are designed by financial institutions as a
way to keep you making minimum payments for years to come – and
enslaved to large interest payments from which they make many of
their profits. Borrow only what you can, and pay back the debt
as quickly as possible.
Of course, even when dealing with the very best lenders, trying
to secure credit card financing with a lower credit rating does
throw up some problems.
Financial institutions will usually insist on a higher interest
rate and sometimes may even ask for a guarantor. The interest
rate can be up to three times what a good credit borrower would
be offered, although in these days of low interest rates, that
need not be prohibitively expensive.
Always try and walk before you run. If you have a high interest
rate on your credit card, borrow sparingly and pay back quickly.
That way you’ll build up your credit score and be able to get
cheaper APR in the future, making larger purchases then far
cheaper over the fullness of time. If you make a large purchase
at a high interest rate and can only pay back the minimum
payment each month, with interest charges you could be paying
as little as just one of half of a percent of the existing
balance each month.
Always keep you balance under control. It can be easy to let
your credit card spending run in excess of what you had
planned. If you have concerns that you might do so, ask the
lender to impose an easily manageable credit limit. That way
you won’t spend a dime more than you can afford. The worst time
to gain unmanageable balance is when interest rates are at their
highest. Do that and it can seem like a lifetime before you get
things back under control.
High-risk borrowers should always exercise extreme caution
before entering into any financial obligation. Before even
thinking about taking on any new financial obligation, consider
your budget and ask yourself how much – if anything – you can
afford. If you decide that you can, you should still be careful
about choosing the right deal.
However, if you can get a credit card that you can manage well,
the benefits are enormous. It will enable you to spread the cost
of larger purchases over manageable periods of time; you can
fill holes in your budget (that are so common in the run up to
pay day); and build up a credit history that will enable you to
get better APR on borrowings and allow you to borrow money for
larger items.
An auto loan or mortgage may seem a distant dream for many
Americans with poor credit histories, but everybody has to
start off somewhere. Get a credit card, manage it well, and
you’ll soon get to where you want.
About the Author: Max Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any other type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
By Max Hunter
Boosting Your Credit-Rating With A Well-Managed Credit Card
A considerable obstacle standing between many Americans and the
consumer goods they consider a necessary or desirable part of
life is a ready way to pay for them. From a new piece of
furniture to a car or even a house an age old problem stands in
their way: MONEY – or rather how to get hold of it.
A lucky few earn enough to never have to worry about this
problem. Many more consumers have lenders simply falling over
themselves with offers of credit. For a lot of people, however,
a poor credit history or a low credit rating stands as an
inexorable difference between living the life they want, and
looking with perpetual envy at their neighbor. Even relatively
low cost essentials, such as a vacuum cleaner or television
set, can be too expensive if a way of spreading the initial
cost is not available.
But it doesn’t have to be that way. Credit is available for
those with a lower credit scores, but better still: Borrowing
even relatively small amounts can be a great way for borrowers
with a "chequered past" to improve their credit rating. A
better credit score can lead to an array of greater awards in
the future, including better APR deals and larger credit lines.
If you have a poor credit rating and dreams of one day buying a
house, a credit card is the first logical step to pulling up
your record and getting a mortgage.
Making regular monthly payments to an agreed timescale on a
credit card is – short of scooping a massive inheritance from a
long lost millionaire aunt – one of the single best ways to
improve your credit score. So long as you don’t take on more
debt than you can afford, credit cars are ideal: payments are
reasonably sized and flexible, and if you budget properly can
be structured towards an ultimate payoff
Moreover, you have to be wise to how credit card companies
work. Credit cards are designed by financial institutions as a
way to keep you making minimum payments for years to come – and
enslaved to large interest payments from which they make many of
their profits. Borrow only what you can, and pay back the debt
as quickly as possible.
Of course, even when dealing with the very best lenders, trying
to secure credit card financing with a lower credit rating does
throw up some problems.
Financial institutions will usually insist on a higher interest
rate and sometimes may even ask for a guarantor. The interest
rate can be up to three times what a good credit borrower would
be offered, although in these days of low interest rates, that
need not be prohibitively expensive.
Always try and walk before you run. If you have a high interest
rate on your credit card, borrow sparingly and pay back quickly.
That way you’ll build up your credit score and be able to get
cheaper APR in the future, making larger purchases then far
cheaper over the fullness of time. If you make a large purchase
at a high interest rate and can only pay back the minimum
payment each month, with interest charges you could be paying
as little as just one of half of a percent of the existing
balance each month.
Always keep you balance under control. It can be easy to let
your credit card spending run in excess of what you had
planned. If you have concerns that you might do so, ask the
lender to impose an easily manageable credit limit. That way
you won’t spend a dime more than you can afford. The worst time
to gain unmanageable balance is when interest rates are at their
highest. Do that and it can seem like a lifetime before you get
things back under control.
High-risk borrowers should always exercise extreme caution
before entering into any financial obligation. Before even
thinking about taking on any new financial obligation, consider
your budget and ask yourself how much – if anything – you can
afford. If you decide that you can, you should still be careful
about choosing the right deal.
However, if you can get a credit card that you can manage well,
the benefits are enormous. It will enable you to spread the cost
of larger purchases over manageable periods of time; you can
fill holes in your budget (that are so common in the run up to
pay day); and build up a credit history that will enable you to
get better APR on borrowings and allow you to borrow money for
larger items.
An auto loan or mortgage may seem a distant dream for many
Americans with poor credit histories, but everybody has to
start off somewhere. Get a credit card, manage it well, and
you’ll soon get to where you want.
About the Author: Max Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any other type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
Saturday, May 12, 2007
Credit Card Terminals
Credit Card Debt Problems
By Ethan Hunter
What to Do If You Hit the Debt Mire
When debt goes bad, it becomes more than just a financial
problem. It can take over your life. If you have a debt problem
the earlier it is handled and dealt with, the less likely it’ll
turn into a crisis, and the more money you’ll save in the
fullness of time.
The very nature of borrowing means that interest increases over
time and if it isn’t dealt with promptly, it can spiral out of
control and land you into trouble. Particularly with credit
cards, when interest payments are large, and a minimum payment
offers a seemingly manageable solution; what is actually
happening is this: the balance is being eroded like the sea
bites away at the shore. It’ll disappear into the ocean
eventually, but might take many years to do so. What you need
is a more radical approach, where chunks of debt are eaten away
each month.
Being in debt can be a stressful time. Many people are scared
to tell husbands, wives, friends – anyone. There’s a kind of
stigma attached to the problem, but there is always a way out.
Traditional debt advice proscribes borrowing your way out of a
problem. Yet this ignores the reality of most debts. A more
advisable and realistic approach would be to never borrow more
to get out of debt trouble. If it is possible to borrow more
cheaply elsewhere to replace existing borrowing and consolidate
your debt, then this is an eminently sensible approach.
The first step should always be to work out your monthly
outgoings and try and trim down your spending on luxuries and
things you can do without. This doesn’t mean you have to live
the life of a monk and forgo all worldly pleasures! But by
adopting sensible spending patterns you can redirect some of
your monthly income into paying off your outstanding balances.
Always keep at the front of your mind the fact that the longer
the debt smolders away, the more you spend in interest
payments.
Those with big debts may save thousands a year in interest by
reconsidering their borrowing commitments. Do this in three
ways:
i) Lower the interest if possible by moving your debts to
reduce the interest cost.
ii) Pay the worst first: prioritize paying off the highest
interest rate debts first
iii) Utilize any free debt advice there is. A non-commercial
agency will give you good advice, focus you on your priorities,
and place any problems in context. Things may not be as bad as
they first seem.
Of course, there’s other basic, practicable things you can do
on your own. It's incredibly important to get on top of credit
card debts as soon as possible. Don't default or miss payments.
Let the credit card company know if you are going to be unable
to pay – it’s always better to talk to them than putting your
head in the sand.
If things aren’t that bad, there’s a variety of easy strategies
you can implement that will help ease things for you. Consider a
credit card balance transfer to a lender offering a lower rate
of APR. This will mean you spend less on interest payments each
month and start to attack the overall balance with real venom.
You could take out an unsecured loan as a way of consolidating
your debt. Personal loans can give you a consistent cheap debt,
and as you must make the repayments each month, it helps provide
structure to your repayments. Those with poorer credit scores
might not always get decent rates, but it’s still often a
cheaper option than paying back credit card debt each month,
and overall a faster method of repayment.
If you have them, use savings: The interest paid on savings is
usually far less than interest charged on borrowing, so paying
off debts with savings makes eminent sense. Even if you think
of your savings as an ‘emergency cash fund’ or money for the
future, better to fall back on it in the short term and pay it
back later, than paying interest to a credit card company so
that money for some far flung eventuality is at your disposal.
It’s worth mentioning that for many people, credit cards
provide sensible short term, flexible lending, that’s both
cheap and convenient. You should always try and proceed
cautiously, but credit card debt woes are not an inevitable
consequence of taking them out. Tens of millions of Americans
use credit cards cheaply and conveniently every year.
For those who feel they are in trouble, don’t feel stigmatized
by your debt woes and don’t pretend they’re not there. Help is
at hand should you seek it, and a solution is never far away.
About the Author: Ethan Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
By Ethan Hunter
What to Do If You Hit the Debt Mire
When debt goes bad, it becomes more than just a financial
problem. It can take over your life. If you have a debt problem
the earlier it is handled and dealt with, the less likely it’ll
turn into a crisis, and the more money you’ll save in the
fullness of time.
The very nature of borrowing means that interest increases over
time and if it isn’t dealt with promptly, it can spiral out of
control and land you into trouble. Particularly with credit
cards, when interest payments are large, and a minimum payment
offers a seemingly manageable solution; what is actually
happening is this: the balance is being eroded like the sea
bites away at the shore. It’ll disappear into the ocean
eventually, but might take many years to do so. What you need
is a more radical approach, where chunks of debt are eaten away
each month.
Being in debt can be a stressful time. Many people are scared
to tell husbands, wives, friends – anyone. There’s a kind of
stigma attached to the problem, but there is always a way out.
Traditional debt advice proscribes borrowing your way out of a
problem. Yet this ignores the reality of most debts. A more
advisable and realistic approach would be to never borrow more
to get out of debt trouble. If it is possible to borrow more
cheaply elsewhere to replace existing borrowing and consolidate
your debt, then this is an eminently sensible approach.
The first step should always be to work out your monthly
outgoings and try and trim down your spending on luxuries and
things you can do without. This doesn’t mean you have to live
the life of a monk and forgo all worldly pleasures! But by
adopting sensible spending patterns you can redirect some of
your monthly income into paying off your outstanding balances.
Always keep at the front of your mind the fact that the longer
the debt smolders away, the more you spend in interest
payments.
Those with big debts may save thousands a year in interest by
reconsidering their borrowing commitments. Do this in three
ways:
i) Lower the interest if possible by moving your debts to
reduce the interest cost.
ii) Pay the worst first: prioritize paying off the highest
interest rate debts first
iii) Utilize any free debt advice there is. A non-commercial
agency will give you good advice, focus you on your priorities,
and place any problems in context. Things may not be as bad as
they first seem.
Of course, there’s other basic, practicable things you can do
on your own. It's incredibly important to get on top of credit
card debts as soon as possible. Don't default or miss payments.
Let the credit card company know if you are going to be unable
to pay – it’s always better to talk to them than putting your
head in the sand.
If things aren’t that bad, there’s a variety of easy strategies
you can implement that will help ease things for you. Consider a
credit card balance transfer to a lender offering a lower rate
of APR. This will mean you spend less on interest payments each
month and start to attack the overall balance with real venom.
You could take out an unsecured loan as a way of consolidating
your debt. Personal loans can give you a consistent cheap debt,
and as you must make the repayments each month, it helps provide
structure to your repayments. Those with poorer credit scores
might not always get decent rates, but it’s still often a
cheaper option than paying back credit card debt each month,
and overall a faster method of repayment.
If you have them, use savings: The interest paid on savings is
usually far less than interest charged on borrowing, so paying
off debts with savings makes eminent sense. Even if you think
of your savings as an ‘emergency cash fund’ or money for the
future, better to fall back on it in the short term and pay it
back later, than paying interest to a credit card company so
that money for some far flung eventuality is at your disposal.
It’s worth mentioning that for many people, credit cards
provide sensible short term, flexible lending, that’s both
cheap and convenient. You should always try and proceed
cautiously, but credit card debt woes are not an inevitable
consequence of taking them out. Tens of millions of Americans
use credit cards cheaply and conveniently every year.
For those who feel they are in trouble, don’t feel stigmatized
by your debt woes and don’t pretend they’re not there. Help is
at hand should you seek it, and a solution is never far away.
About the Author: Ethan Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
Friday, May 11, 2007
Credit Card Terminals
Credit Card Lingo
By Max Hunter
Knowing What’s Out There – And What To Choose
The World of finance can be a tricky game for both the seasoned
veteran and the novice borrower. Banks can – by accident or
design – make even the most simple information seem complicated
and through this unwittingly (or not) induce their customers to
go for products that might not be best suited to their needs.
Credit, charge, ATM and debit cards are not all alike. Although
you might think that they are basically the same thing – a way
of making payment for purchases or means of getting cash – they
are actually quite different. So as to use these cards wisely,
you should know what each one is and how it differs from the
others. Here’s some information to help you choose wisely.
Credit Cards
Credit cards can be a great way of paying for a purchase. They
are easy to apply for, easy to use, and flexible in their
repayment options. However, if you carry a balance, credit
cards can be like very expensive loans.
A credit card works like this: the credit card company supplies
you with a card; you use that card to pay for items and services
up to a certain total amount -- your credit ‘limit.’ The store
or service provider then collects what you owe from the card
issuer, whom you repay. You're then allowed to pay off as much
or almost as little as you like off the balance each month, so
long as you pay a minimum amount each time (usually 2.5 per
cent).
On the outstanding balance you’re charged interest (which can
be as high as 25% or more each year) at the end of each monthly
period, unless you pay the full balance each time your bill
arrives.
Credit cards are immensely profitable for issuers for a variety
of reasons. The high rate of interest yields issuing banks and
companies vast profits – in some cases the bulk of an
institution’s earnings. In addition to the interest, many
companies charge an annual membership fee for a credit card, as
well as a plethora of other charges, including late fees,
over-the-limit fees and other miscellaneous charges. Companies
also profit by charging stores a fee each time a customer uses
a credit card in their establishment.
There are three different types of credit card available:
Unsecured Credit Cards
These cards are commonly made available to those with good
credit history and credit score. These cards require no bank
deposit amounts to secure and usually have no annual fees and
low rate of interest.
Higher Risk Credit Cards
These cards are usually given to people who have a lower paying
job, and/or poor credit history and credit score. Often these
cards charge an activation fee, and also usually charge an
annual fee of up to $80.
Secured Credit Cards
These cards are given to people who have a lower paying job,
and/or a very poor credit history and credit score. Often these
cards require a deposit to be made to the lender, sometimes as
much as near or equal to the amount of credit available on the
card. If the borrower can prove their credit worthiness over
time, that credit limit is then upped. These cards also attract
a high annual fee of up to $100 and charge high rates of
interest.
Charge Cards
Charge cards (also known as travel and entertainment cards) are
slightly from credit cards. The most famous charge cards, such
as American Express and Diners Club, have an unlimited credit
limit. Normally you can charge as much as you like, but you are
required to pay off your balance in full when your bill arrives.
There’s one exception to this: If you charge air fare, cruise
fees or hotel charges booked through a travel agent on an
American Express card, you have an option to pay off your
balance over 36 months. There’s a sting in the tail, however:
you'll be charged around 20 per cent interest and will have to
make minimum monthly payments of $20.
The way charge card companies like American Express make their
profits is by charging very high annual fees – up to $100 – and
by hitting merchants with relatively high charges each time a
customer pays using their card.
If you don't pay your charge card bill in full (unless the
charges are travel expenses on an American Express card),
you'll get a one-month period of grace, when no interest is
charged. Beyond that, however, you'll be charged interest,
which weighs in at about 18 per cent. After about three months,
if your account is still not settled, your account will be
closed and your bill sent to the collections department.
Cash Advances
Some people use their credit or charge cards to obtain cash
advances. This can be an expensive way of accessing cash. Most
banks charge a transaction fee that can be as much as 4% for
taking a cash advance. Interest is also charged from the date
the cash advance is posted, even if it’s paid back in full when
your bill arrives. Moreover, the interest rate is usually higher
on cash advances than on ordinary credit card charges.
ATM & Debit Cards
ATM and debit cards offer most of the same functions as credit
and charge cards, but the crucial difference is that the money
comes out of your bank account straight away. If you don’t have
the money, you can’t buy the product.
For some people this is a preferable option: they like to keep
track of their outgoings, to keep tabs on what they’ve spent,
to avoid any sort of debt – no matter how brief.
There are disadvantages to using debit cards. It doesn’t give
you the option of up to a month to settle your statement. You
also don't have the right to withhold payment with a debit card
(the money is immediately removed from the account) in the event
of a dispute with the merchant over the goods or services paid
for. Some banks and merchants also charge transaction fees for
the use of debit cards.
About the Author: Max Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any other type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
By Max Hunter
Knowing What’s Out There – And What To Choose
The World of finance can be a tricky game for both the seasoned
veteran and the novice borrower. Banks can – by accident or
design – make even the most simple information seem complicated
and through this unwittingly (or not) induce their customers to
go for products that might not be best suited to their needs.
Credit, charge, ATM and debit cards are not all alike. Although
you might think that they are basically the same thing – a way
of making payment for purchases or means of getting cash – they
are actually quite different. So as to use these cards wisely,
you should know what each one is and how it differs from the
others. Here’s some information to help you choose wisely.
Credit Cards
Credit cards can be a great way of paying for a purchase. They
are easy to apply for, easy to use, and flexible in their
repayment options. However, if you carry a balance, credit
cards can be like very expensive loans.
A credit card works like this: the credit card company supplies
you with a card; you use that card to pay for items and services
up to a certain total amount -- your credit ‘limit.’ The store
or service provider then collects what you owe from the card
issuer, whom you repay. You're then allowed to pay off as much
or almost as little as you like off the balance each month, so
long as you pay a minimum amount each time (usually 2.5 per
cent).
On the outstanding balance you’re charged interest (which can
be as high as 25% or more each year) at the end of each monthly
period, unless you pay the full balance each time your bill
arrives.
Credit cards are immensely profitable for issuers for a variety
of reasons. The high rate of interest yields issuing banks and
companies vast profits – in some cases the bulk of an
institution’s earnings. In addition to the interest, many
companies charge an annual membership fee for a credit card, as
well as a plethora of other charges, including late fees,
over-the-limit fees and other miscellaneous charges. Companies
also profit by charging stores a fee each time a customer uses
a credit card in their establishment.
There are three different types of credit card available:
Unsecured Credit Cards
These cards are commonly made available to those with good
credit history and credit score. These cards require no bank
deposit amounts to secure and usually have no annual fees and
low rate of interest.
Higher Risk Credit Cards
These cards are usually given to people who have a lower paying
job, and/or poor credit history and credit score. Often these
cards charge an activation fee, and also usually charge an
annual fee of up to $80.
Secured Credit Cards
These cards are given to people who have a lower paying job,
and/or a very poor credit history and credit score. Often these
cards require a deposit to be made to the lender, sometimes as
much as near or equal to the amount of credit available on the
card. If the borrower can prove their credit worthiness over
time, that credit limit is then upped. These cards also attract
a high annual fee of up to $100 and charge high rates of
interest.
Charge Cards
Charge cards (also known as travel and entertainment cards) are
slightly from credit cards. The most famous charge cards, such
as American Express and Diners Club, have an unlimited credit
limit. Normally you can charge as much as you like, but you are
required to pay off your balance in full when your bill arrives.
There’s one exception to this: If you charge air fare, cruise
fees or hotel charges booked through a travel agent on an
American Express card, you have an option to pay off your
balance over 36 months. There’s a sting in the tail, however:
you'll be charged around 20 per cent interest and will have to
make minimum monthly payments of $20.
The way charge card companies like American Express make their
profits is by charging very high annual fees – up to $100 – and
by hitting merchants with relatively high charges each time a
customer pays using their card.
If you don't pay your charge card bill in full (unless the
charges are travel expenses on an American Express card),
you'll get a one-month period of grace, when no interest is
charged. Beyond that, however, you'll be charged interest,
which weighs in at about 18 per cent. After about three months,
if your account is still not settled, your account will be
closed and your bill sent to the collections department.
Cash Advances
Some people use their credit or charge cards to obtain cash
advances. This can be an expensive way of accessing cash. Most
banks charge a transaction fee that can be as much as 4% for
taking a cash advance. Interest is also charged from the date
the cash advance is posted, even if it’s paid back in full when
your bill arrives. Moreover, the interest rate is usually higher
on cash advances than on ordinary credit card charges.
ATM & Debit Cards
ATM and debit cards offer most of the same functions as credit
and charge cards, but the crucial difference is that the money
comes out of your bank account straight away. If you don’t have
the money, you can’t buy the product.
For some people this is a preferable option: they like to keep
track of their outgoings, to keep tabs on what they’ve spent,
to avoid any sort of debt – no matter how brief.
There are disadvantages to using debit cards. It doesn’t give
you the option of up to a month to settle your statement. You
also don't have the right to withhold payment with a debit card
(the money is immediately removed from the account) in the event
of a dispute with the merchant over the goods or services paid
for. Some banks and merchants also charge transaction fees for
the use of debit cards.
About the Author: Max Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any other type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
Thursday, May 10, 2007
Credit Card Terminals
Merchant Credit Card Terminals
By Kent Pinkerton
Merchant credit card terminals are electronic devices offering fast, low-cost means to authorize and process credit card transactions. They are very commonly used in retail stores and restaurants. Most merchant credit card terminals accept all major credit, debit, and private-label cards offering low-cost credit card authorization, check guarantee, and data capture for a range of retail applications.
A terminal to process credit cards is a great investment to your business. Most merchant credit card terminals support Internet-based services such as e-mail, electronic signature, interactive electronic coupons, onscreen advertising, cash management reporting, and e-commerce. They make transactions more convenient, faster, and accurate for both customers and merchants.
At first, merchant credit card processing terminals verify your customer's card information. Then they withdraw money for the purchase from the customer?s account and deposit it directly into your merchant account. The most important units of merchant credit card terminals are card readers with a small keypad and display. They require power supply and can communicate through a telephone line. Modern terminals are powered by batteries and can communicate wireless or over the Internet. They come in several sizes and prices.
There are many types of merchant credit card terminals: traditional terminals (with or without printers), wireless terminals, and virtual or software-based terminals. Merchants with a permanent place of business need a basic card reader terminal. In this case, the terminal is placed right on the counter where all transactions take place. For businesses that constantly change locations, a wireless credit card processing terminal is a good choice. It is suitable for merchants who are always on the go.
Millions of merchant credit card terminals ship annually and the majority have the same basic functions and features. It can only be used in combination with a merchant account that processes credit card transactions. Businesses already using credit card terminals need to buy extra equipments to maintain additional services such as debit card transactions and issuing and accepting gift cards. A number of terminals also support additional forms of payment such as electronic bank transfers and phone cards.
Credit Card Terminals provides detailed information on Credit Card Terminals, Credit Card Terminal Systems, Wireless Credit Card Terminals, Credit Card Processing Terminals and more. Credit Card Terminals is affiliated with Credit Card Processing Software.
Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton
http://EzineArticles.com/?Merchant-Credit-Card-Terminals&id=353177
By Kent Pinkerton
Merchant credit card terminals are electronic devices offering fast, low-cost means to authorize and process credit card transactions. They are very commonly used in retail stores and restaurants. Most merchant credit card terminals accept all major credit, debit, and private-label cards offering low-cost credit card authorization, check guarantee, and data capture for a range of retail applications.
A terminal to process credit cards is a great investment to your business. Most merchant credit card terminals support Internet-based services such as e-mail, electronic signature, interactive electronic coupons, onscreen advertising, cash management reporting, and e-commerce. They make transactions more convenient, faster, and accurate for both customers and merchants.
At first, merchant credit card processing terminals verify your customer's card information. Then they withdraw money for the purchase from the customer?s account and deposit it directly into your merchant account. The most important units of merchant credit card terminals are card readers with a small keypad and display. They require power supply and can communicate through a telephone line. Modern terminals are powered by batteries and can communicate wireless or over the Internet. They come in several sizes and prices.
There are many types of merchant credit card terminals: traditional terminals (with or without printers), wireless terminals, and virtual or software-based terminals. Merchants with a permanent place of business need a basic card reader terminal. In this case, the terminal is placed right on the counter where all transactions take place. For businesses that constantly change locations, a wireless credit card processing terminal is a good choice. It is suitable for merchants who are always on the go.
Millions of merchant credit card terminals ship annually and the majority have the same basic functions and features. It can only be used in combination with a merchant account that processes credit card transactions. Businesses already using credit card terminals need to buy extra equipments to maintain additional services such as debit card transactions and issuing and accepting gift cards. A number of terminals also support additional forms of payment such as electronic bank transfers and phone cards.
Credit Card Terminals provides detailed information on Credit Card Terminals, Credit Card Terminal Systems, Wireless Credit Card Terminals, Credit Card Processing Terminals and more. Credit Card Terminals is affiliated with Credit Card Processing Software.
Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton
http://EzineArticles.com/?Merchant-Credit-Card-Terminals&id=353177
Friday, May 4, 2007
Credit Card Terminals
Third Party Credit Card Processors by Debbie Dragon
If you're a small business or just starting out, you may not feel ready for a merchant account. Obtaining a merchant account is not usually considered difficult, however, for a newly established business it isn't always feasible to run out and a merchant account immediately. Starting a business is often costly and risky to begin with- you do not need to go out and spend money on optional features (like a merchant account) until you know whether or not your business is going to succeed, and whether or not you'll have the need to accept credit cards from customers.
Did you know there are other options and alternative methods for allowing your customers to pay you with credit cards? Companies called "third party credit card processors" do not require their customers to create merchant accounts, and yet they can be used to allow small or new businesses the ability to accept credit card payments from customers.
Why Worry about Accepting Credit Cards at All?
It's important that you are able to accept credit card payments from customers, however, even if you aren't feeling up to getting a traditional merchant account right now. It's been proven that businesses that except credit cards experience higher sales than those that do not accept credit cards. In fact, some companies have reported an increase of 50 to 400% in sales once they began accepting credit cards as a payment method. It also helps to establish a professional image- and for some potential consumers, it generates a feeling of trust. ("If the business is established enough to accept credit cards, they're a quality business that I should shop with"!)
Home based businesses and online businesses can take advantage of a third party credit card processor instead of going directly with a merchant account if they wanted to. It allows a business to determine how many customers will make purchases with credit cards, as well as determine if more or higher sales come as a result of accepting credit cards as payments.
A third party credit card processor offers real-time processing online, online virtual terminals for entering manual transactions, no maximum limits for processing amounts in most cases, and the ability to set up recurring billing.
One of the advantages of using a third party credit card processor over establishing a merchant account is that instead of paying a transaction fee or a monthly fee, you pay a percentage of the sales (from 2% to 15%), and only when you actually make sales. Some merchant account providers require that you pay a monthly fee- even if you aren't making any credit card sales. By starting out with a third party credit card processor, you can judge how many customers might use the option to pay with credit cards before you go through the process of applying for a merchant account and getting everything set up.
How do third party payment processors work?
Once you have an account with a third party payment processor, you'll create links to your products that allow customers to order and pay with credit. The links send the customer to the third-party processing company's server, and they handle the orders for you. Payments are processed by the company, and the sales are credited to your own business- less the third party processor's commission. You receive your money from the third party processing company at established payment intervals. Typically, money owed to you from the third party credit card processing company is deposited automatically into a checking or savings account that you have set up for your business and linked to your account with the third party processor.
About the Author
This article has been provided by Creditor Web. Creditor Web has the articles and other credit card processing resources to help you choose the right provider.
If you're a small business or just starting out, you may not feel ready for a merchant account. Obtaining a merchant account is not usually considered difficult, however, for a newly established business it isn't always feasible to run out and a merchant account immediately. Starting a business is often costly and risky to begin with- you do not need to go out and spend money on optional features (like a merchant account) until you know whether or not your business is going to succeed, and whether or not you'll have the need to accept credit cards from customers.
Did you know there are other options and alternative methods for allowing your customers to pay you with credit cards? Companies called "third party credit card processors" do not require their customers to create merchant accounts, and yet they can be used to allow small or new businesses the ability to accept credit card payments from customers.
Why Worry about Accepting Credit Cards at All?
It's important that you are able to accept credit card payments from customers, however, even if you aren't feeling up to getting a traditional merchant account right now. It's been proven that businesses that except credit cards experience higher sales than those that do not accept credit cards. In fact, some companies have reported an increase of 50 to 400% in sales once they began accepting credit cards as a payment method. It also helps to establish a professional image- and for some potential consumers, it generates a feeling of trust. ("If the business is established enough to accept credit cards, they're a quality business that I should shop with"!)
Home based businesses and online businesses can take advantage of a third party credit card processor instead of going directly with a merchant account if they wanted to. It allows a business to determine how many customers will make purchases with credit cards, as well as determine if more or higher sales come as a result of accepting credit cards as payments.
A third party credit card processor offers real-time processing online, online virtual terminals for entering manual transactions, no maximum limits for processing amounts in most cases, and the ability to set up recurring billing.
One of the advantages of using a third party credit card processor over establishing a merchant account is that instead of paying a transaction fee or a monthly fee, you pay a percentage of the sales (from 2% to 15%), and only when you actually make sales. Some merchant account providers require that you pay a monthly fee- even if you aren't making any credit card sales. By starting out with a third party credit card processor, you can judge how many customers might use the option to pay with credit cards before you go through the process of applying for a merchant account and getting everything set up.
How do third party payment processors work?
Once you have an account with a third party payment processor, you'll create links to your products that allow customers to order and pay with credit. The links send the customer to the third-party processing company's server, and they handle the orders for you. Payments are processed by the company, and the sales are credited to your own business- less the third party processor's commission. You receive your money from the third party processing company at established payment intervals. Typically, money owed to you from the third party credit card processing company is deposited automatically into a checking or savings account that you have set up for your business and linked to your account with the third party processor.
About the Author
This article has been provided by Creditor Web. Creditor Web has the articles and other credit card processing resources to help you choose the right provider.
Thursday, May 3, 2007
Credit Card Terminals
A Quick Guide to Credit Card Machines
By Jake Atkinson
We’ve come a long way since the first credit card machine was launched in the market. Today there are different types of credit card machines, and you can choose the one that is best suited to your business needs.
The Wireless Credit Card Machine: For a mobile business, a wireless credit card machine is the best option. The wireless model is the most advanced credit card processing machine available today, and also the most expensive one. It is important to remember, however, that the area where you plan to use the machine should have sufficient cellular coverage if you decide to go the wireless route.
Credit Card Terminals That Can Handle Multiple Merchant Accounts: Your business needs may require you to maintain separate accounts for separate employees/service providers. For such businesses, the multiple merchant accounts option is a sensible one. The most commonly used credit card terminals that can handle multiple merchant accounts include Nurit 2085, Nurit 3020, Nurit 3010, Nurit 8000, Omni 3750, Omni 3740, and the Verifone Tranz 380x2.
The Terminal Without An Attached Printer: These machines (without printers) are commonly used when mail ordering or phone ordering is involved. When the business is run in a mobile environment, and the credit card number is called in to a central location where the number is keyed in, then too, machines without printers are often used. Also, when your business is a mobile one (landscaping, plumbing, locksmith), yet the wireless machine is not feasible for you, then this option is a very effective one. The printer-less credit card machines are very cost-effective – prices can range from $200.00 - $450.00 for a new machine, and $150.00 - $300.00 for a refurbished unit. The Verifone Tranz 330 and Verifone Tranz 380 are two of the most popular machines in this category.
The Terminal With An Attached Printer: For your retail business, this machine, which includes an integrated impact or thermal printer, lets you issue a receipt to the customer at the time of the sale. Also, in this category you can purchase machines that have built in pinpads. It makes sense to have this feature, because it lets you accept debit cards without purchasing a separate pinpad. Though machines with integrated printers are slightly more expensive that the credit card processing machines that don't have attached printers, they are priced reasonably. The price ranges from around $275 - $900, depending on the model and features. The most widely used terminals in this category include the Hypercom T7 Plus, the Nurit 2085, and the Verifone Omni 3200se. If you are looking for integrated pinpads in the machine (that let you process debit cards without purchasing separate pinpads), you can select from the Nurit 2085 Plus, Nurit 8320, and the Omni 3210se.
Jake Atkinson recommends MerchantEquip for more information on credit card machines.
Article Source: http://EzineArticles.com/?expert=Jake_Atkinson
http://EzineArticles.com/?A-Quick-Guide-to-Credit-Card-Machines&id=193770
By Jake Atkinson
We’ve come a long way since the first credit card machine was launched in the market. Today there are different types of credit card machines, and you can choose the one that is best suited to your business needs.
The Wireless Credit Card Machine: For a mobile business, a wireless credit card machine is the best option. The wireless model is the most advanced credit card processing machine available today, and also the most expensive one. It is important to remember, however, that the area where you plan to use the machine should have sufficient cellular coverage if you decide to go the wireless route.
Credit Card Terminals That Can Handle Multiple Merchant Accounts: Your business needs may require you to maintain separate accounts for separate employees/service providers. For such businesses, the multiple merchant accounts option is a sensible one. The most commonly used credit card terminals that can handle multiple merchant accounts include Nurit 2085, Nurit 3020, Nurit 3010, Nurit 8000, Omni 3750, Omni 3740, and the Verifone Tranz 380x2.
The Terminal Without An Attached Printer: These machines (without printers) are commonly used when mail ordering or phone ordering is involved. When the business is run in a mobile environment, and the credit card number is called in to a central location where the number is keyed in, then too, machines without printers are often used. Also, when your business is a mobile one (landscaping, plumbing, locksmith), yet the wireless machine is not feasible for you, then this option is a very effective one. The printer-less credit card machines are very cost-effective – prices can range from $200.00 - $450.00 for a new machine, and $150.00 - $300.00 for a refurbished unit. The Verifone Tranz 330 and Verifone Tranz 380 are two of the most popular machines in this category.
The Terminal With An Attached Printer: For your retail business, this machine, which includes an integrated impact or thermal printer, lets you issue a receipt to the customer at the time of the sale. Also, in this category you can purchase machines that have built in pinpads. It makes sense to have this feature, because it lets you accept debit cards without purchasing a separate pinpad. Though machines with integrated printers are slightly more expensive that the credit card processing machines that don't have attached printers, they are priced reasonably. The price ranges from around $275 - $900, depending on the model and features. The most widely used terminals in this category include the Hypercom T7 Plus, the Nurit 2085, and the Verifone Omni 3200se. If you are looking for integrated pinpads in the machine (that let you process debit cards without purchasing separate pinpads), you can select from the Nurit 2085 Plus, Nurit 8320, and the Omni 3210se.
Jake Atkinson recommends MerchantEquip for more information on credit card machines.
Article Source: http://EzineArticles.com/?expert=Jake_Atkinson
http://EzineArticles.com/?A-Quick-Guide-to-Credit-Card-Machines&id=193770
Wednesday, May 2, 2007
Credit Card Terminals
Point of Sale Systems
By Kent Pinkerton
A point of sale system is a type of computer or specialized terminal that is used to instantly record a transaction. This system uses computers and combines it with the necessary software, cash registers, barcode readers, optical scanners, and magnetic strip readers.
Types of Point of Sale Systems
There are two main types of point of sale systems available. The first one is an online type of system that is connected to a central computer for credit checking and inventory updating. The other type of point of sale system is called a stand-alone machine. This type of machine will store information concerning sales, credit card information, as well as keeping track of your inventory. At the end of the day this information must be delivered or manually transmitted to the main central computer. These two types of systems work in a similar manner, with the only difference being the way and how fast the information gets delivered to the main central computer.
Uses for Point of Sale Systems
A point of sale system could significantly help a business owner in keeping a business run smoothly and efficiently. The most important use of this system to a business owner is its ability to allow your business to process credit card payments. Consumers today tend to prefer paying with a credit card rather than using cash. Majority of the consumers do not even carry cash in their person most of the time. It has been proven that businesses that do not accept credit cards for purchases will have at least 60% less sales than similar business that accept credit cards.
Cost
The cost of point of sale systems will depend on how sophisticated of a system you wish to implement. There are some systems available that cost over $1500, while some can cost as little as $65. The type of system you will need to buy will depend on the needs of your business, and the amount of transaction you will need to process at any given business day.
Point Of Sale Systems provides detailed information on Point Of Sale Systems, Restaurant Point Of Sale Systems, Affordable Point Of Sale Systems, Retail Point Of Sale Systems and more. Point Of Sale Systems is affiliated with Point Of Sale Hardware.
Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton
http://EzineArticles.com/?Point-of-Sale-Systems&id=272654
By Kent Pinkerton
A point of sale system is a type of computer or specialized terminal that is used to instantly record a transaction. This system uses computers and combines it with the necessary software, cash registers, barcode readers, optical scanners, and magnetic strip readers.
Types of Point of Sale Systems
There are two main types of point of sale systems available. The first one is an online type of system that is connected to a central computer for credit checking and inventory updating. The other type of point of sale system is called a stand-alone machine. This type of machine will store information concerning sales, credit card information, as well as keeping track of your inventory. At the end of the day this information must be delivered or manually transmitted to the main central computer. These two types of systems work in a similar manner, with the only difference being the way and how fast the information gets delivered to the main central computer.
Uses for Point of Sale Systems
A point of sale system could significantly help a business owner in keeping a business run smoothly and efficiently. The most important use of this system to a business owner is its ability to allow your business to process credit card payments. Consumers today tend to prefer paying with a credit card rather than using cash. Majority of the consumers do not even carry cash in their person most of the time. It has been proven that businesses that do not accept credit cards for purchases will have at least 60% less sales than similar business that accept credit cards.
Cost
The cost of point of sale systems will depend on how sophisticated of a system you wish to implement. There are some systems available that cost over $1500, while some can cost as little as $65. The type of system you will need to buy will depend on the needs of your business, and the amount of transaction you will need to process at any given business day.
Point Of Sale Systems provides detailed information on Point Of Sale Systems, Restaurant Point Of Sale Systems, Affordable Point Of Sale Systems, Retail Point Of Sale Systems and more. Point Of Sale Systems is affiliated with Point Of Sale Hardware.
Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton
http://EzineArticles.com/?Point-of-Sale-Systems&id=272654
Monday, April 30, 2007
Credit Card Terminals
Credit Card Debt Problems
By Ethan Hunter
What to Do If You Hit the Debt Mire
When debt goes bad, it becomes more than just a financial
problem. It can take over your life. If you have a debt problem
the earlier it is handled and dealt with, the less likely it’ll
turn into a crisis, and the more money you’ll save in the
fullness of time.
The very nature of borrowing means that interest increases over
time and if it isn’t dealt with promptly, it can spiral out of
control and land you into trouble. Particularly with credit
cards, when interest payments are large, and a minimum payment
offers a seemingly manageable solution; what is actually
happening is this: the balance is being eroded like the sea
bites away at the shore. It’ll disappear into the ocean
eventually, but might take many years to do so. What you need
is a more radical approach, where chunks of debt are eaten away
each month.
Being in debt can be a stressful time. Many people are scared
to tell husbands, wives, friends – anyone. There’s a kind of
stigma attached to the problem, but there is always a way out.
Traditional debt advice proscribes borrowing your way out of a
problem. Yet this ignores the reality of most debts. A more
advisable and realistic approach would be to never borrow more
to get out of debt trouble. If it is possible to borrow more
cheaply elsewhere to replace existing borrowing and consolidate
your debt, then this is an eminently sensible approach.
The first step should always be to work out your monthly
outgoings and try and trim down your spending on luxuries and
things you can do without. This doesn’t mean you have to live
the life of a monk and forgo all worldly pleasures! But by
adopting sensible spending patterns you can redirect some of
your monthly income into paying off your outstanding balances.
Always keep at the front of your mind the fact that the longer
the debt smolders away, the more you spend in interest
payments.
Those with big debts may save thousands a year in interest by
reconsidering their borrowing commitments. Do this in three
ways:
i) Lower the interest if possible by moving your debts to
reduce the interest cost.
ii) Pay the worst first: prioritize paying off the highest
interest rate debts first
iii) Utilize any free debt advice there is. A non-commercial
agency will give you good advice, focus you on your priorities,
and place any problems in context. Things may not be as bad as
they first seem.
Of course, there’s other basic, practicable things you can do
on your own. It's incredibly important to get on top of credit
card debts as soon as possible. Don't default or miss payments.
Let the credit card company know if you are going to be unable
to pay – it’s always better to talk to them than putting your
head in the sand.
If things aren’t that bad, there’s a variety of easy strategies
you can implement that will help ease things for you. Consider a
credit card balance transfer to a lender offering a lower rate
of APR. This will mean you spend less on interest payments each
month and start to attack the overall balance with real venom.
You could take out an unsecured loan as a way of consolidating
your debt. Personal loans can give you a consistent cheap debt,
and as you must make the repayments each month, it helps provide
structure to your repayments. Those with poorer credit scores
might not always get decent rates, but it’s still often a
cheaper option than paying back credit card debt each month,
and overall a faster method of repayment.
If you have them, use savings: The interest paid on savings is
usually far less than interest charged on borrowing, so paying
off debts with savings makes eminent sense. Even if you think
of your savings as an ‘emergency cash fund’ or money for the
future, better to fall back on it in the short term and pay it
back later, than paying interest to a credit card company so
that money for some far flung eventuality is at your disposal.
It’s worth mentioning that for many people, credit cards
provide sensible short term, flexible lending, that’s both
cheap and convenient. You should always try and proceed
cautiously, but credit card debt woes are not an inevitable
consequence of taking them out. Tens of millions of Americans
use credit cards cheaply and conveniently every year.
For those who feel they are in trouble, don’t feel stigmatized
by your debt woes and don’t pretend they’re not there. Help is
at hand should you seek it, and a solution is never far away.
About the Author: Ethan Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
By Ethan Hunter
What to Do If You Hit the Debt Mire
When debt goes bad, it becomes more than just a financial
problem. It can take over your life. If you have a debt problem
the earlier it is handled and dealt with, the less likely it’ll
turn into a crisis, and the more money you’ll save in the
fullness of time.
The very nature of borrowing means that interest increases over
time and if it isn’t dealt with promptly, it can spiral out of
control and land you into trouble. Particularly with credit
cards, when interest payments are large, and a minimum payment
offers a seemingly manageable solution; what is actually
happening is this: the balance is being eroded like the sea
bites away at the shore. It’ll disappear into the ocean
eventually, but might take many years to do so. What you need
is a more radical approach, where chunks of debt are eaten away
each month.
Being in debt can be a stressful time. Many people are scared
to tell husbands, wives, friends – anyone. There’s a kind of
stigma attached to the problem, but there is always a way out.
Traditional debt advice proscribes borrowing your way out of a
problem. Yet this ignores the reality of most debts. A more
advisable and realistic approach would be to never borrow more
to get out of debt trouble. If it is possible to borrow more
cheaply elsewhere to replace existing borrowing and consolidate
your debt, then this is an eminently sensible approach.
The first step should always be to work out your monthly
outgoings and try and trim down your spending on luxuries and
things you can do without. This doesn’t mean you have to live
the life of a monk and forgo all worldly pleasures! But by
adopting sensible spending patterns you can redirect some of
your monthly income into paying off your outstanding balances.
Always keep at the front of your mind the fact that the longer
the debt smolders away, the more you spend in interest
payments.
Those with big debts may save thousands a year in interest by
reconsidering their borrowing commitments. Do this in three
ways:
i) Lower the interest if possible by moving your debts to
reduce the interest cost.
ii) Pay the worst first: prioritize paying off the highest
interest rate debts first
iii) Utilize any free debt advice there is. A non-commercial
agency will give you good advice, focus you on your priorities,
and place any problems in context. Things may not be as bad as
they first seem.
Of course, there’s other basic, practicable things you can do
on your own. It's incredibly important to get on top of credit
card debts as soon as possible. Don't default or miss payments.
Let the credit card company know if you are going to be unable
to pay – it’s always better to talk to them than putting your
head in the sand.
If things aren’t that bad, there’s a variety of easy strategies
you can implement that will help ease things for you. Consider a
credit card balance transfer to a lender offering a lower rate
of APR. This will mean you spend less on interest payments each
month and start to attack the overall balance with real venom.
You could take out an unsecured loan as a way of consolidating
your debt. Personal loans can give you a consistent cheap debt,
and as you must make the repayments each month, it helps provide
structure to your repayments. Those with poorer credit scores
might not always get decent rates, but it’s still often a
cheaper option than paying back credit card debt each month,
and overall a faster method of repayment.
If you have them, use savings: The interest paid on savings is
usually far less than interest charged on borrowing, so paying
off debts with savings makes eminent sense. Even if you think
of your savings as an ‘emergency cash fund’ or money for the
future, better to fall back on it in the short term and pay it
back later, than paying interest to a credit card company so
that money for some far flung eventuality is at your disposal.
It’s worth mentioning that for many people, credit cards
provide sensible short term, flexible lending, that’s both
cheap and convenient. You should always try and proceed
cautiously, but credit card debt woes are not an inevitable
consequence of taking them out. Tens of millions of Americans
use credit cards cheaply and conveniently every year.
For those who feel they are in trouble, don’t feel stigmatized
by your debt woes and don’t pretend they’re not there. Help is
at hand should you seek it, and a solution is never far away.
About the Author: Ethan Hunter is the author of many credit
related articles. If you are looking for help with Home Loans
or any type of credit issue please visit us at
http://www.creditcardunlimited.com
Source: http://www.isnare.com
Subscribe to:
Posts (Atom)