Credit Cards

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✎ Thursday, Mar 26, 2020

Loans.....

Credit cards come with a host of features and benefits - a good reason why credit cards are a popular phenomenon. If you are looking to apply for a credit card anytime soon, here are 10 things you definitely need to know. These points will give you a better understanding of how credit cards work and what you can expect from them.

Annual fees on credit cards

All credit cards offered by banks (at least a major percentage of them), come with an annual fee. The annual fee mostly varies from one card to another, even in the case of cards offered by the same bank. Usually, Premier cards that offer better benefits than normal cards come with a higher annual fee.

While the Primary card almost certainly comes with an annual fee, supplementary cards also come with an annual fee in most cases. Sometimes, the annual fee on the supplementary card is waived for the first year or so - this is to keep the card more competitive and in-demand. Certain banks waive the annual fee on the primary card as well - for the first year, or first two years, or longer.

Annual rate of interest

All transactions you make using your credit card attract a certain rate of interest known as the annual percentage rate of interest (APR). The interest rate is dependent on the bank that's offering the card and the type of card. The interest rate for most credit cards is Singapore is between 23% p.a. and 30% p.a.

Banks allow for an interest free period of about 21 days from the release of the statement (again, this depends on the bank and the type of card) and don't charge an interest if the amount is repaid in full Students within this interest free window. If the amount isn't paid before the end of the interest free period, interest charges will accordingly hold applicable.

Cash advance charges

Credit cards enable customers to make emergency cash withdrawals from ATMs. These cash advances carry a handling charge of about 5%-6% of the withdrawn amount, besides interest charges that fall in the range between 23% and 28% p.a. Interest on cash advances is computed on a daily basis at a compounding rate until the amount is repaid in full. Cash advances are usually a risky phenomenon, mostly considering the high interest charges. So if you withdraw money using your credit card, it is advisable that you repay the amount in full at the earliest.

Minimum monthly payments

As a credit card customer, you are required to pay a minimum amount each month - or the entire amount if that's possible - amounting to 3% of the total monthly outstanding balance. Minimum payments need to be made by the payment due date if late payment charges have to avoided. The minimum payment in your credit card monthly statement can also include pending minimum payments from previous months, late payment charges, cash advance charges, and overlimit fees, if they hold applicable.

Late payment charges

If the minimum amount isn't paid by the payment due date, banks levy a certain fee, commonly referred to as the late payment fee. The late payment fee for credit cards in Singapore can be anywhere in the range between S$40 and S$80, depending on the bank offering the card



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✎ Thursday, Mar 26, 2020

Loans....

Secured Credit Card is similar to a prepaid credit card since the funds you are using are actually yours and not the issuer of the credit card. Generally people who apply for secured credit card or prepaid credit card are people with poor credit or unemployed. Prepaid Credit Card spending limit is the amount of money you loaded to the card. There are no interest or finance charges on a prepaid card. With secured credit card, your credit line could be from 50% to 100% of your deposit depending on the institution giving you the secured credit. Therefore the company giving you the secured credit card has zero risk.

Secured credit card can be very beneficial because it gives you an opportunity to rebuild your credit history and you are able to make purchases just as if you had an unsecured credit card. Many companies require that you have a credit card to make purchases, such as car rental, airline tickets, etc. Ensure that the company issuing the secured credit, routinely reports customers' payment history to any of the three main credit bureaus namely Experian, Equifax and Trans Union. This reporting to the credit bureaus will rebuild your credit history over time.

Closing unnecessary accounts and consolidating your bills to make payments more manageable could be an advantage financially. By not applying for too much credit within a short period of time Students is another factor that will help in rebuilding your credit rating. Additionally, even though secured credit is like prepaid cards, they do have certain fees attached.
Benefits are similar to that of an unsecured credit card, such as usually being paid interest on your balance in the bank, using Automated Teller Machines (ATM) to make deposits, withdrawals, and making purchases at participating merchants. Following the above steps will strengthen your credit rating.

Unsecured Credit Cards are issued to individuals with good to excellent credit rating. Credit ratings depend on certain criteria, such as one's ability to repay loans. These criteria include payment history, employment history, and financial stability. Individuals with excellent credit will most likely receive a lower interest rate. A major factor in maintaining excellent credit is making your loan payments on time thus avoiding late fee penalties.

Customers should read the credit agreement to ensure that they understand their obligation to the creditor. Making payments on time will strengthen your credit rating. Unsecured credit cards has numerous advantages such as low interest rates, high credit limit, business name options, no annual fees, and low APRs on balance transfers up to 12 months. Closing unnecessary accounts and consolidating your bills to make payments more manageable could be an advantage financially. By not applying for too much credit within a short period of time is another factor that will help in maintaining a good credit rating.

Rebuilding your credit takes time, patience, and consistency. If you consistently pay your bills on time, you will see an improvement in your credit ratings over time. There are no quick fixes for improving your credit report except for mistakes or inaccuracies that can be corrected, hopefully in your favor. Your credit information is maintained by the credit bureaus namely Experience, Equifax, and Trans Union for seven years. Therefore poor credit information will remain on your report for seven years. The good thing is that as negative information disappears with positive information, this will definitely rebuild your credit rating.



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✎ Thursday, Mar 26, 2020

Debt.......

It may seem incredible, but credit card issuers clog the mails with over 2.5 billion offers inviting people to apply for a credit card. Even those who would not qualify for a conventional credit card due to serious credit problems are now able to get one; some credit card issuers even specialize in this particular type of market. And according to financial gurus, there are at least a billion credit cards in active circulation throughout the United States alone.

Credit has been an economic cornerstone for some time now. Surveys show that the average American household is estimated to have at least twelve credit cards, including charge cards. While you may tend to think that one credit card is pretty much the same as the next, there are in actual fact distinct characteristics for each different credit card type. It is good to know these difference between the three different types of cards in the market: a bank credit card, a travel credit card, an entertainment credit card (although nowadays the combined travel and entertainment card has become more common) and a retail credit card or house card.

Bank Credit Cards

You have probably noticed that most credit cards bear either the logo of Visa or MasterCard together with the name of the bank. It would appear that the credit card has been issued by either Students Visa or MasterCard. That is not quite an accurate assumption: these two companies do not issue credit cards directly to the consumers. Most of the credit cards on the market today are offered by thousands of banks around the globe. Each bank is linked to the credit card association, because are not allowed to issue any kind of card unless they are association members.

Visa is a privately held membership association, although it is preparing to go public. It started as an association of banks in California and the West Coast. There are over 20,000 financial institutions in the membership rolls, and virtually all of them offer Visa Card. MasterCard is also a membership association, similar to Visa, and originally consisted of member banks in the East.

A bank credit card is in reality a revolving credit line. When you receive your statement, you can pay all or part of your balance each month, run up the balance again and so on. Being a credit line, the account comes with a pre-determined credit limit that depends on key factors like disposable income, credit history, etc. The credit limit can be as low as a $100 or as high as many thousands of dollars.

It is possible for card holders to get themselves into trouble when they do not properly manage the revolving credit line. When you carry a balance instead of paying it off, the credit card issuer starts charging interest on that balance -- in some cases, this interest could be pretty steep. The interest rate varies widely, depending on who issued the card, but you could expect the average credit card interest rate to be at about 18 percent.

For instance, if you carry forward a $1,000 balance for 12 months, you pay $180 in interest per year or $15 every month. If you maintain a $1,000 savings account, you will earn about $40 in interest per year. Those who get into trouble will have to reduce debt, and one of the more common ways to go about this, is to arrange for credit card debt consolidation, which helps lighten the interest burden.



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✎ Thursday, Mar 26, 2020

Debt.......

Observers in the lending industry have estimated that there may be at least 50 million Americans who are not able to qualify for credit. These consumers are usually young, often members of the minority groups and unbanked...and they are faced with the long-standing dilemma of credit: how can I build my credit record if no one will give me any credit at all?

One of the answers offered by credit card companies is a variety of prepaid credit cards, designed for use by specific segments in the market. The prepaid credit cards are meant for that significant portion of the population that cannot meet the qualification criteria for regular credit cards, or who qualified before but have since lost their credit due to repeated defaults and other reasons.

Advantages of Prepaid Credit Cards For those who do not have enough credit history or have had it blemished, prepaid credit cards are an effective way to build or slowly rebuild credit. That may not happen immediately, but it is something to work on over time. The banks that issue prepaid credit cards are also prepared to extend normal credit the moment you are able to show that you have become a worthy credit risk.

For the moment, you may have to make do with prepaid credit cards. You can use prepaid credit cards as you would any other regular credit card to purchase airline tickets, reserve hotel rooms, or order items online.

Prepaid Credit Card for Students There is a special prepaid Visa Homeowners credit card for students, which offers a lot of convenience not only for the students but also for their parents. These reloadable prepaid credit cards offer parents several options on how to reload. Parents can add money to reloadable prepaid credit cards by depositing money, by arranging an automatic transfer of funds from their account (a deposit account or their own credit card account), or by online transfer. Using the prepaid Visa credit card is no different from giving the regular allowance to their child, only they do so by electronic means and there is no more cash that changes hands.

The big advantage of the prepaid Visa credit card is that the student is limited to spend only as much money as there is in the card. The parent is thus able to control to some extent the spending behavior of their child. They can use the prepaid credit card anywhere that the credit card brand is accepted.

Prepaid Credit Cards as Gift Certificates Some prepaid credit cards function like gift certificates. You buy the prepaid credit card for a certain amount, and your recipient can purchase items with it at any of the brick-and-mortar stores or online merchants, and also for mail order items, that accept the particular credit card brand. Your recipient can use the prepaid credit card only up to the amount of money that you loaded on it. This particular version of prepaid credit cards is non-reloadable.

Like any gift certificate, recipients of prepaid credit cards can buy whatever it is they want at any time they want. Unlike a gift certificate that, when it gets lost is lost forever to the recipient, prepaid credit cards may be replaced if it gets lost or is stolen.

Prepaid Credit Cards for Travel There is a prepaid credit card designed for travel. These reloadable prepaid credit cards can be purchased in lieu of travelers' checks or cash. In a way, it combines the best features of a credit card and a traveler's check because of its convenience and security features. Should you lose the prepaid credit card while you are on travel, you can easily obtain an emergency replacement, both for the prepaid credit card and some cash.



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✎ Thursday, Mar 26, 2020

Credit Cards

Money which can be used to buy anything we want, yet which we do not hold, feel and count in our hands. Money which can both save our lives and destroy it. Money is a necessity and our entire life revolves around it, right from figuring out means of earning it to how to spend it and our efforts to save it for a better future.

The modern concept of money doesn't involve its physical presence, but rather presents itself in the form of a card, a magical card which can instantly make wishes come true. The Credit Card has revolutionised money, transcending physical boundaries and opening up multiple new avenues. There are cases where the only item we need is our credit card and the prospect of carrying money has changed drastically.

Who are the people with no credit history?

Credit History is associated with everyone who has used a credit card for any purchase. The people with no credit history are mostly students and new immigrants in a country, who have never taken out loans. In the case of card applications, an individual with bad credit history has a better chance of getting a credit card than a person without any credit history. There are however avenues to get a credit card with no credit history.

Individuals who wish to apply for credit cards without any history can choose from some of the options below, which can significantly improve their chances of getting that elusive cards.

Student Card - Most major banks and financial institutions offer exclusive student cards targeted towards the student community. These cards do not require an applicant to have previous credit history and can be obtained if the individual meets certain criteria. Having a job can make it easier to get the card approved and banks prefer to hand out this card to those who have a source of income.

Pre-qualification Test- Certain banks allow individuals with no credit Credit Cards history to take a pre-qualification test online. This test lets them know if they can get a card approved and the reasons why the card was denied, if it is rejected. This information could help one prepare better the next time they apply for a card.

Store Credit Card - Certain nations have the concept of store credit cards, which are easier to get and do not need any credit history. These cards have low credit limit and high interest rates and generally have cards which are not Visa or MasterCard approved.

Prepaid Cards - Individuals with no credit history but with disposable income at hand can apply for prepaid cards. These cards are as good as normal credit cards but the credit ceiling is limited to the prepaid amount. There is no fear of exceeding credit limits or late fees with these cards.

Co-signed cards - Banks offer co-signed cards for people with no credit history. These cards require someone with decent credit to co-sign for you, with their financial backing increasing your chance of approval. Co-signed cards can be a smart move if you have someone who trusts you and is willing to sign on your behalf, though they also allow your financial transactions to be viewed by the co-signee.

Secured Credit Card - Secured cards are similar to normal credit cards in most aspects, except the fact that one needs to make a security deposit in order to be eligible for a credit limit. Individuals without credit history can choose this card if they have suitable security deposits with them, which will essentially guarantee them the credit card.
Applying for credit cards without any history can be a tedious and long drawn affair but one has to remember that applying with any and all banks is not a smart thing to do. Rejection is a part of this process and one has to be smart enough to choose the alternative cards mentioned above in case of rejection. Getting any of these cards approved is likely good enough to get an individual a credit history, making it easier for them to get better credit options in the future.



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✎ Thursday, Mar 26, 2020

Credit Cards

Long before we are old enough to carry credit cards ourselves, advertisers make sure we know about the power of plastic: "It's everywhere you want to be." "It pays to Discover." "What's in your wallet?"

While using an ad campaign to choose a card is a terrible idea, the slogans have one thing right: A credit card can be a powerful thing. For teens and 20-somethings looking to pick a first card, taking the time to choose carefully can save money and offer a boost in establishing and building a credit history.

An excellent credit score will be helpful when you start to think about buying a car or getting a mortgage. Even if you do not plan to take out a large loan in the near future, your credit information can be a factor in renting an apartment, obtaining a membership at a club or getting hired for certain jobs.

Lenders use credit reports to determine how risky it is to give a borrower - that is, you - a loan. All in all, the lender just wants to know if the borrower will be able to pay back the loan. If the borrower has bad credit, then he or she probably made some major or ongoing financial mistakes and is more likely not to repay. On the other hand, if the borrower has good credit, then he or she has a history of paying back debt, and the lender will most likely grant the loan.

Credit cards are effectively short-term loans that need to be paid back within a short grace period. Getting the first credit card can be tricky. Credit card companies do not have any basis for your credit history since you have not borrowed any money in the past. So how are you supposed to establish and build your credit rating without a history?

One way is to apply for a secured credit card. Secured credit cards are backed by a deposit that you make upfront. Usually, the amount you deposit will be the same as the card's credit limit. Credit Cards Everything else is like a regular unsecured credit card: You use the card to buy things; you make monthly payments; and you incur interest if you fail to pay off the full balance. A secured credit card should be only a temporary step to building credit. Try to pay off the total balance every month to show that you are financially responsible. After all, not only do you want to build a credit history, you want to build a good one.

Another effective way to start your credit history is to become an authorized user on someone else's card. Many parents will designate their children as authorized users on their credit cards so that the children can build credit without the legal obligation to pay the balance every month. However, if the person whose account you are authorized to use does not handle the account properly, their mistakes could end up hurting rather than helping your credit.

Once you establish your credit history, you can shop for your first unsecured credit card. You will quickly discover that there are many to choose from. A number of factors can help narrow the search.

The most important of these is how you intend to use the card. Are you going to use it only for emergencies? If not, will you pay in full each month, or will you carry a balance on the card? Once you decide how you will use the card, follow your self-imposed rules. It is very easy, and dangerous, to continually swipe the card and tell yourself it is for a good reason. But it is crucial to be stubborn about establishing good spending habits, even - or maybe especially - early in life.

If you plan to carry a balance on your card, you must be aware of the interest rate of each card you are considering. The interest rate used by credit card companies is the annual percentage rate, or APR. There are cards with variable APRs, which are based on a certain index (such as the U.S. prime rate). There are also nonvariable APRs, which are usually fixed-rate credit cards. As a beginner, you will usually want a low-rate, nonvariable APR credit card, because knowing your interest rate will give you a sense of how much money you will need each month to pay at least the minimum amount due. A low-rate, nonvariable APR card will therefore help when you create a monthly budget.



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✎ Thursday, Mar 26, 2020

Students

We live in the world of credit. Most of the banking institutions offer different forms of credit from credit card to signature loans.

Majority of people often find themselves in bad credit situations like court judgment, bankruptcy, repossession, foreclosure and loan default,due to lack of enough financial knowledge and discipline which often make it difficult for them to get any credit at all in future. So - what exactly is credit?

Credit means that you are getting a service or cash grant to rent for your own purpose. You are often bound with a contract or agreement to repay in future as agreed with lender or service provider. Credit exists in different forms like loan, mortgage, signature loan, or credit card.

Every financial institution or lending agency, will first check your credit history, before they will consider giving you credit. If you have defaulted on credit or loan before or have bad credit history you will find it almost difficult to get credit any time you apply for it.

However, it's possible for you to improve your bad credit history or build a new good credit history by repairing your bad credit, thus re-establishing your credit-worthiness. This process is called credit repair. It's the process in which consumers with unfavorable credit histories attempt to re-establish their credit-worthiness.

Though there are lots of credit repair companies nowadays that promises repairing your bad credit for you, but if you can follow simple guide, it's very possible for you to do it yourself - after all it's your credit.

If you repair your bad credit it will make it easy for you to get low interest credit, car or home loans. However, with poor credit rating you may not be able to get loan or be subjected to high Homeowners interest rates and several other unnecessary conditions. So it's very important that you repair your credit if you have bad credit. You will get lots of tips on how to do this easily in this book.

Your credits score - how you can improve it.

Your credit score is a very important in any financial transaction that you make or intend making in future. So it's good you know what exactly your score is, understand its meaning and learn how you can improve it if it's not good enough.

"Many factors can contribute to a negative rating from the credit reporting agencies. Many factors like are non-payment of an account or late payments over an extended length of time, can contribute to someone getting a "bad credit" rating or poor score. Whether non-payment of an account is willful or due to financial hardship, the result can be the same, a negative rating. ... But there is hope to get credit cards for people with bad credit, poor credit or lower credit score"

Credit report - its effect on your personal credit

Credit report is a compilation of your credit history, past financial transactions and personal information possible. This report is usually compiled by accredited agencies known as credit reporting agency.

Credit reporting agencies are organizations that help credit card companies, loan companies, banks, and departmental stores in the country to ascertain the credit worthiness of their would be clients.

Once they have detail information from these sources, they give it to any organizations in need of it when requested. Though they keep on file information concerning you and your credit, they don't make final judgments as to your credit worthiness. The decision is up to the credit card companies or any lender which you are dealing with.



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✎ Thursday, Mar 26, 2020

Students

Various types of credit cards are available in the market. They have evolved from their early days into flexible financial tools for most types of spenders and savers. But with so many types of credit cards on offer it can be somewhat overwhelming. Few examples are Airline credit card, Balance transfer credit card, cash rebate credit cards etc.

How to choose the Right Card?
There are literally tens of hundreds of credit cards on offer in the USA, and the list is growing daily. So, which is the best on offer? It very much depends on how each person plans to use their card. The answer lies in asking one simple question; "What do I want to use a credit card for?"
Applying For Credit Cards Online
This option is simple and most convenient. More and more people are applying for credit cards online. Along with online auctions, and shopping, signing up for credit cards, loans and insurance has been one of the fastest growing commercial activities on the net.
How to decide which credit card is suitable for me?
First decide what YOU are looking for then search the web. There are some bigname credit cards that might charge the earth for you to have the privilege of carrying their name in your wallet. Homeowners  Most of them are not worth the extra fees. But what makes a card worth its salt? And what steps should you take in choosing the right card?
Rate Tart Are You One?
Rate tarts are the smart shoppers of the credit card world. They play the system to avoid paying interest on purchases, borrow money for free, and even make money on that borrowed money! The idea is simple. DO NOT leave any balance in your credit card and pay in FULL before the next billing cycle.
Quick Balance Transfer
Balance transfers allow card holders to transfer the money they owe to their existing credit card to another, usually at a special rate of interest. The new credit card company pays off the old credit card debt and transfers it to the new card.
0% Balance Transfers What's The Buzz?
Balance transfers can be a good way of managing large sums of debt. The idea is simple. You have a large debt, loan, store card balance or credit card balance
Cash Back Credit Card
It seems almost too good to be true; a credit card company giving back money to the user just for spending it in the first place! However, as with all good deals, there are terms and conditions.
The Value Of Having Branded USA Credit Card Loyalty Programs
Anyone who has taken even the briefest of looks at the USA credit card industry will immediately notice that there are well over a thousand credit card providers. However, even in this hugely competitive industry, there are still only two main types of card available - the Visa card and the MasterCard.
Secured or PrePaid Credit Cards
So you need a credit card for emergencies, peace of mind, or for your teenage child but aren't willing to go into debt for it? The answer might just be a secured or prepaid credit card.
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✎ Thursday, Mar 26, 2020

Homeowners

There are very few things that are as ubiquitous as the credit card. This little rectangle of plastic can give us so much convenience, but to the unwary can also bring so much misery. Credit cards may be the easiest way to get a standby line of revolving credit, always available when you need it, but it can also be the fastest way to get mired in credit card debt. People may complain about credit card debt but everyone agrees that despite the risks, there are too many drawbacks to not having a credit card.

Credit cards as we know them today are relatively new and are continuously evolving. The major laws protecting consumers' rights involving credit were passed in the mid-seventies. It may be timely that Congress is currently considering added measures to enhance consumer protection. Yet, for a long time, people were using credit cards as a convenience product rather than as loans. Many people paid their entire balance each month. Homeowners  Credit cards were not as essential then as they are now.

Banks do not make money if people did not carry balances since a grace period for purchases, where no interest is charged for one month, is usually standard. As far as banks are concerned, the best credit card customer is one who carries a balance each month after remitting the minimum payment on time. Credit card issuers got really creative and have managed to make credit cards a necessary part of daily living. They worked to have credit cards accepted in more and more establishments, and to have credit card holders understand the many benefits and conveniences that they stood to gain from using their credit cards.

In our times, credit cards no longer a luxury. If you travel, you need your credit card to book flight reservations and reserve hotel rooms. You also need credit cards to rent cars, to purchase gas, and buy products by telephone or online. Being without credit cards today would make your life as difficult as traveling by horse and buggy. Without our even being aware of it, credit cards have become a business standard.

A credit card is one of the quickest ways to build a credit history. When you apply for a credit card and you still have no history, there are credit card issuers that you can approach. These issuers specialize in providing credit card products to customers who, because they are still attempting to establish or expand their credit history, are generally evaluated as higher credit risks. Many college students, for example, fall into this category, along with those who have limited employment income, or otherwise have poor credit history.

Today, having credit is a necessity. An inexpensive, reliable new car costs thousands of dollars, and although most people may want to pay in cash, the reality is they will need a loan. The rates and terms of that loan will be determined by your credit history, which is easily obtainable from the credit bureaus throughout the country. If you have used credit wisely in the past and repaid previous loans on time, you will be in a favorable position. If not, the result will be a more costly loan with higher interest rates.



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✎ Thursday, Mar 26, 2020

Homeowners

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

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

Credit Cards

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

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

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

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

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

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

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

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

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

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

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



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