Best Credit Card Offers

October 10, 2008

Each and every day, most of us receive several credit card offers in our inboxes. Luring offers, exclusive schemes, low interest levels, etc, are some of the common things found in all of the credit card offers. That is why; it really gets difficult to make out which one is the best offer amidst all of them.

Finding or choosing the best credit card offer does not need any mathematic or much of mind work. You just need to be a smart customer who is aware of his needs. Below are few points that can help you in choosing the most suitable credit card:

Know your needs: Very first thing, when you are to choose any credit card offer, you must know what your needs are. It’s pretty obvious that a student will not a business credit card. Similarly, you must have an account of your needs and desires.

Research is important: Internet has made researching and reviewing very easy. One can get plentiful knowledge on credit cards online. Study credit card reviews, tips and suggestion or anything else that can help you. After all, you have also to do your bit in order to get the best one.

Compare the offers: One must compare credit cards offers minutely. Things like low interest rates, annual fees, discounts, schemes, etc must be compared. This will get you the best idea for the trends in credit card.

Check the reliability: There are several fake credit card companies as well. Therefore, one must check the credibility of the offer especially when you are applying for online credit card. Don’t blindly fill up the details before knowing anything about the offering source or company.

Affordability: This is the best factor to choose your credit card. If you think that you can not repay money or EMI on mentioned interest rates then don’t go for it. Annual fee and similar charges must be in your budget. After all, you don’t want to fall in a heavy debt that you can not repay.

Advertisements, offers, schemes and so on will never end; just you need to deal patiently with all of them. Last but not least, don’t forget to use your own improvisations and expertise while dealing credit card offers.

If you want to know more and the latest on credit card offers, log on to cardconsumers.com, the most reliable guide for credit cards. Cardconsumers.com serves you the plentiful and the best information, tips and suggestions and much more on consumer cards.

Payment Gateway

August 19, 2008

If you want to to open an online store in order to sell out products and services, then the first and most basic thing you need is a payment gateway so that you can accept payments online. These days, many web sites run online shopping modules, with the support of various Payment Gateways which are available worldwide. Payment Gateways work as an intermediary between the customer and the merchant, and help them by making secure transactions.

A payment gateway is an e-commerce service provider that authorizes payments for e-businesses, online retailers, et cetera. Whenever a buyer or a consumer purchases a product from merchant that has a payment gateway, the payment gateway comes into action and performs certain tasks to process the transaction.

Payment Gateway creates an automatic payment deal between the customer and the merchant. It is usually a third-party service, which is actually a system designed to process, verify, and accept or decline credit card transactions on behalf of the merchant through secured Internet connections. A payment gateway is a network that allows a merchant to accept credit cards and other forms of electronic payments. These payment gateways are extremely secure so that they can safely take care of whole transaction online. When referring to payment gateways used for Internet transactions, it may also be called an IP payment gateway.

In IVR, or Interactive Voice Response Service, the customer enters the credit card details on the phone, using an automated answering service. In the case of orders via web site, the browser encrypts the information, which then passes between the browser and the web server using SSL encryption. CyberSource, VeriSign, PayPal and Authorize.net are some of the popular payment gateway service providers allowing merchants to accept credit cards through their web sites over an Internet Protocol connection.

Credit Card Chargeback

August 5, 2008

Discovered some fraudulent transaction on your monthly Credit Card statement? Use Chargeback to get Reversal of a Credit Card Transaction. There may be the cases when you find your Credit Card has been charged without your consent.

In case you are not satisfied with the quality of product or service then too you can make use of chargeback option available with all the Credit Card Companies. Theses types of transactions may include the situations where:-

•Card holder does not authorize the transaction.
•Transaction was processed more than once.
•Customer never received merchandise or services.
•Error in transaction amount.
•Incorrect amount processed in transaction.
•You receive a product differ from what was described or promised.
•Card Consumer is not satisfied with quality of product or service.

In case of chargeback Bank will investigate complaint and will take back the amount of original transaction from merchant’s account, unless the merchant can verify the transaction was genuine. Sometimes the complaint is not genuine and consumer’s claim gets denied, still in these cases merchant will be sometimes get charged processing fees.

Majority of the chargeback cases do happen due to technical problems between the merchant and the issuing bank. For example a consumer was charged twice for same transaction or other such mistakes like authorization process of a Credit Card where transaction is declined by the issuing Bank and the account is still charged.

A merchant is billed for the chargeback along with the fess and the settlements associated with the credit card transaction. A chargeback may be appealed by the merchant and if chargeback is found to be untrue then merchant will get a reversal. Dishonest consumers normally abuse the chargeback system by making a purchase over Internet with Credit Card and then issuing a chargeback on receiving the product or service leading to difficulty in recovering payment for merchants.

In the end, chargeback can be considered as safeguard against your Credit Card Transaction. As a Credit Card consumer one must have knowledge about all its technical details like rate of interest, annual fees and specially the things like chargeback.

Credit Card has become part of our day to day life, with so many benefits it has, it’s not easy to avoid purchasing on it and avoid Credit Card Debt. But there may be various alternatives to avoid Debt. These Steps explained in detail below could be so useful that if followed with proper guidelines and directions can surely lower your Debt. It’s nearly obvious that if you are an American then you must own a credit card and if you own a credit card then you have almost certainly got more than one card and if you own credit cards, there’s a great possibility that you owe a balance.


Here are ten steps to promptly minimize your total credit-card-debt:

1. Calculate the total debt you owe so that you can devise a plan accordingly.

2. Order your cards as per descending interest rates, with higher rate of interest card first.

3. By this time you better know which one of the cards has higher interest rate in comparison to the others! So start calling the Credit Card Company & ask them to lower the interest rates, this may sound comical but these things do work and if they refuse request made by you, contact the supervisor and plea again.

4. Rearrange your priority list in the similar downward order.

5. Check if there are any particular interest rates or promotional offers that might expire shortly. If you own a card with interest rate at 0% then it would be at the least rank in your priority list, but if changes occur in it after a month, it might get to the uppermost on the list pretty soon.

6. Now, prepare a second list – write down total balance you have on each and every card. Order this in descending manners as well.

7. Finally a third list. This process involves a little mathematics. Get the total balance from each card and divide the sum by total credit limit on the card. This gives you “debt-to-limit” percentage. This list will also be in descending order.

8. By this time, three lists are with you. Each one of the lists will probably be dissimilarly ordered. This step needs your decision that what is your most important objective to 1) get rid of debt as soon as possible, 2) pay as minute interest as feasible, or 3) improve your credit score?

9. If you desire for getting rid of the debt sooner then you should pay bare minimum balances on each and every card but the top ones from each of the first two lists (apparently while averting any new purchase on your card). If you wish to pay as least interest as possible then pay as much as feasible from the topmost card at the first list. If you want credit improvement then pay off the cards according to the order of the third list.

10. Maintain it! If you don’t accumulate new debt, and keep on paying down your cards according to the order of the lists we suggested, you’ll be surprised how speedy you can get rid of the credit card “monkeys” off your shoulders.

Finally, credit is not a bad obsession, but you need to be watchful when you are looking at getting a new credit card. Do a comparison among the variety of Credit Cards available.

These interesting facts about Credit Card can make you go Hmmmm… it covers a number of useful consumer information that may one day come in handy in your daily life.

  • Wonder why minimum payments are so low? It allows consumer to carry more debt while keeping to the same low minimum payment. You can give someone with the ability to pay $100 per month a credit limit as high as $5,000 if they only had to pay 2% a month. If the minimum payment were 5%, they could only have a credit limit of $2,000. The lower the minimum payment, the deeper in debt someone could be in.
  • In United States, there are over 1.52 Billion Credit Cards in use.
  • In the beginning, credit cards were just charge accounts, offered by individual stores and only usable at those stores. The first credit card that could be used at multiple locations was offered by The Diner’s Club in 1950
  • Late library fines and unpaid parking tickets can hurt your credit score.
  • At least one in 10 consumers has more than 10 credit cards in their wallets. That’s equal to 304 tons of plastic or 61 Elephants.
  • You can lower your interest rate with a phone call. Credit card companies are like cell phone and cable companies, they’re afraid you’ll leave and join with one of their competitors. Use this to your advantage by comparing offers from other credit cards and bringing this information to your credit company.
  • All though the first credit cards were merchant specific cards starting in 1900 with several hotels, the first true credit card was invented in 1950 by Ralph Schneider and Frank X. McNamara. The Diners Club charged participating restaurants 7% interest on each purchase and charged a $3 fee a year to the card holder. This was the first card that could be used at different locations. Chase and Bank of America (Visa) came out with their first credit cards in 1958. They became most popular when the magnetic strip became available in 1970.
  • A fixed interest rate on a credit card can change with only 15 days of notice. Fixed is not fixed in the sense that a mortgage loan is fixed, it’s fixed in the sense that the credit card company can change it with only 15 days notice.
  • There is no federal law regulating the rate of interest a credit card company can charge! The federal government use to regulate but repealed those laws during the Great Depression and never put them back in place, they now rely on the states to handle usury.

Albert Einstein was once asked what he felt was mankind’s greatest invention….His answer…“compound interest”…..


Want to Apply for a New Credit Card… Think twice because Credit Card is not just the ordinary Card, it’s what your whole financial planning revolves around, your hard earned money must be utilized and saved well for utilization in future, so better think about its important aspects like available Credit Cards in the market, special offer on Credit Cards and Credit Cards with low interest rate. As there are numerous kinds of Credit Cards available, it’s must to review Credit Cards available. One must do the comparison of all types of Credit Cards before opting for one. If you do require the Card for spending on regular requirements like shopping, gasoline, air travel etc. then you should go for specific cards only so that you can earn the reward points on every purchase.

One can also apply for Credit Cards online and there is good number of websites to help you out in choosing a best Credit Card for you. These websites do have ratings, reviews and comparison of Credit Cards in easy to understand language. These sites do provide the facility to apply for Credit Card Online too and applying on these sites is free too.

Prepaid Credit Card

July 10, 2008


Prepaid Credit Card – A Solution For Bad Credit

Prepaid credit cards are the most excellent alternatives for bad credit people and for those who want to get better credit score. There will be not be any inspection for your employment and credit rating too if you opt for Prepaid one. But you are required to deposit some amount of money in your account for your credit limit. You can deposit more money when your card has a low balance and you want to use it to make more purchases.

This card is the best option for teens, students, and kids who have no credit history but need a card. They are also a good choice for adults who prefer to keep a close eye on how much they spend. These cards are easy to use at grocery stores, gas stations, and online stores. These cards are also advantageous for small businesses. Small business owners with bad credit can apply for prepaid credit cards.

These cards are quite similar to regular cards but it is easier to qualify for these than regular cards. They can be used worldwide and do not charge interest like being charged on regular cards.

Few Important Questions about Prepaid Credit Cards

1. What is a prepaid credit card?
It is a reloadable card issued by a bank in order to authorize payment for purchases. However, there is a spending limit, which is determined by the amount of money deposited into the account. Since you are not allowed to use it beyond the limit, there is no interest charged. It is just like pay-as-you-go; there are no bills to pay after you use the card.

2. How can I apply for a prepaid credit card?
It is very easy to apply for a prepaid card. You can apply online. Simply click on the sign up button, fill out the form, and you can pay by whichever payment method you prefer: personal checks, money order, or bank wire transfer.

3. How old do you have to be to apply for a prepaid credit card?
Many prepaid cards have age restrictions. As a result, some providers will ask parents to activate the card in order to get their permission, which will thus allow children under the age limit to use the card. In general you must be at least 18 years or older in order to get a prepaid card; if you are under 18, you need to have your parents’ sign up for the card account.

4. If your prepaid credit card expires and still there is a lot of money in your account, what will happen in this situation?
You can transfer your balance from one card to another. Terms and conditions may vary from one card company to another. It is better to talk to a customer care representative for your card to help you come up with a solution.

5. What is a virtual credit card?
It is a non-reloadable and prepaid card mostly for one time; otherwise, it works like a regular card. It is designed to protect your financial information when you shop online. Each time you make a purchase at an online store, a new number is generated. It protects you from sharing your personal card number and other personal information when you shop online.