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
Tuesday, August 7, 2007
Tuesday, July 31, 2007
Credit Card Terminals
Teaching Students To Keep Out Of Credit Card Debt - The Parents'
Role
By Roy Thomsitt
Parents have the full responsibility for their children and
their education. It is up to parents to teach their children
what's right and what's wrong, how to conduct themselves as good
citizens, how to cross the road safely and generally protect
themselves from harm. In fact, up until the time that child is
an adult, the parents have responsibilities in every part of
that child's life, right up until the time they are a college
student.
The influence of the parents, however, goes way beyond college
student days. Whether they like it or not, or even admit it,
everyone is influenced not only by the way their parents have
treated them, but also by the behavioural patterns of the
parents. That influence can be good, bad or neutral, but it is
there, and it affects many aspects of daily lives. One of the
main features of daily life is finance: money, debt, borrowing,
lending, spending, and credit cards all fall within that sphere.
It follows that parents can have an influence on their
children's attitude to credit cards and credit card debt. As a
good teacher, mentor and financial adviser, the parent can help
to create a positive financial attitude in their children that
will help them through their college student days, and eliminate
or prevent credit card debt from their future lives.
What Can A Parent Do To Help Their Student Children Prevent
Debt?
Parents are not the only influence on their children. They and
their children face a barrage of marketing for credit cards that
has reached brainwashing proportions. Easy credit pervades
society like a highly contagious virus; it is difficult enough
for the parents not to succumb to the debt that follows easy
credit, let alone their student children. And if the parents
succumb, what chance do the children have?
Well, all is not entirely lost. All parents know, or should
know, that trying to force feed attitudes and habits on their
maturing children is likely to backfire. Many children are
rebellious, and will often be inclined to go against the parents
wishes or advice. That would apply as much to teaching how to
manage their finances as anything else.
However, if you accept that you cannot just force something on
your children, you can bring them up in an environment that may,
through their own observation, make the children think twice
about running up credit card debts as a student, and later still
in their lives. Here are just a few ideas:
1. Get the children into the saving habit from a young age, but
do it in a way that let's them see the benefits. Start a savings
account for them even as a one year old, and as they get a bit
older, just explain to them what it is and why. No harsh
lectures, just a simple explanation that you are helping them to
save money for something they will appreciate later. But not too
much into the future; saying they will not be able to touch it
until they are 25 will not help.
The savings theme can be on two levels. Part of the savings
could be long term, but part also for something the child will
be able to buy within a year. That way, the child has the
anticipation of a benefit within a reasonable time; the balance
of the savings can go on to accumulate. Ensure you have a
savings account that will pay interest on all money in the
account, so that when the first and subsequent interest payments
are posted to the account, you can show the child that they have
this "bonus" in their account. Explain it is the bank paying
them money for leaving their savings in the account.
It is important for the child to feel that it is their money
that is being saved, so explain it is part of their pocket money
being put away. Also encourage them, but not force them, to
sometimes put birthday or other gift money in the account too.
Over the years, this will, hopefully, become a habit that is a
useful contra to the debt culture. They will get used to the
bank paying them, so when it comes to considering credit cards
later, they may be more likely to question the large interest
charges the bank makes for using the credit cards.
2. Encourage children to earn a bit of extra pocket money by
doing little jobs around the house or in the garden. Say this
will help them save for whatever it is they want to save for.
Car washing, mowing the lawn when old enough, vacuuming;
whatever needs to be done, ask if they would like to do the jobs
for the extra money. Then, when paid, encourage them, but do not
force them, to save at least part of the earnings. Again, this
could become a habit that will stand them in good stead later
on, and they will tend to consider the working route to extra
money rather than expensive borrowing.
3. When they start doing more advanced maths, say at 9 or 10
years old, help them do a little budget plan for their savings.
That will be a simple but quite mature approach for them.
4. The most difficult of all is to set a good example, but do
not make a big fuss about it. Mention casually once in a while,
for example when there's a commercial on television for a credit
card, that the charges are so high, but it is probably best not
to give serious lectures and warnings about credit cards and
debt. Try not to use credit cards yourself, especially lavishly
and in front of the children.
There is not guarantee that any of the above will make one iota
of difference, but at least, as with many aspects of parenting,
you have given it your best shot.
About the Author: Roy Thomsitt is owner and part author of the
http://www.eliminate-credit-card-debt-now.com website
Source: http://www.isnare.com
Role
By Roy Thomsitt
Parents have the full responsibility for their children and
their education. It is up to parents to teach their children
what's right and what's wrong, how to conduct themselves as good
citizens, how to cross the road safely and generally protect
themselves from harm. In fact, up until the time that child is
an adult, the parents have responsibilities in every part of
that child's life, right up until the time they are a college
student.
The influence of the parents, however, goes way beyond college
student days. Whether they like it or not, or even admit it,
everyone is influenced not only by the way their parents have
treated them, but also by the behavioural patterns of the
parents. That influence can be good, bad or neutral, but it is
there, and it affects many aspects of daily lives. One of the
main features of daily life is finance: money, debt, borrowing,
lending, spending, and credit cards all fall within that sphere.
It follows that parents can have an influence on their
children's attitude to credit cards and credit card debt. As a
good teacher, mentor and financial adviser, the parent can help
to create a positive financial attitude in their children that
will help them through their college student days, and eliminate
or prevent credit card debt from their future lives.
What Can A Parent Do To Help Their Student Children Prevent
Debt?
Parents are not the only influence on their children. They and
their children face a barrage of marketing for credit cards that
has reached brainwashing proportions. Easy credit pervades
society like a highly contagious virus; it is difficult enough
for the parents not to succumb to the debt that follows easy
credit, let alone their student children. And if the parents
succumb, what chance do the children have?
Well, all is not entirely lost. All parents know, or should
know, that trying to force feed attitudes and habits on their
maturing children is likely to backfire. Many children are
rebellious, and will often be inclined to go against the parents
wishes or advice. That would apply as much to teaching how to
manage their finances as anything else.
However, if you accept that you cannot just force something on
your children, you can bring them up in an environment that may,
through their own observation, make the children think twice
about running up credit card debts as a student, and later still
in their lives. Here are just a few ideas:
1. Get the children into the saving habit from a young age, but
do it in a way that let's them see the benefits. Start a savings
account for them even as a one year old, and as they get a bit
older, just explain to them what it is and why. No harsh
lectures, just a simple explanation that you are helping them to
save money for something they will appreciate later. But not too
much into the future; saying they will not be able to touch it
until they are 25 will not help.
The savings theme can be on two levels. Part of the savings
could be long term, but part also for something the child will
be able to buy within a year. That way, the child has the
anticipation of a benefit within a reasonable time; the balance
of the savings can go on to accumulate. Ensure you have a
savings account that will pay interest on all money in the
account, so that when the first and subsequent interest payments
are posted to the account, you can show the child that they have
this "bonus" in their account. Explain it is the bank paying
them money for leaving their savings in the account.
It is important for the child to feel that it is their money
that is being saved, so explain it is part of their pocket money
being put away. Also encourage them, but not force them, to
sometimes put birthday or other gift money in the account too.
Over the years, this will, hopefully, become a habit that is a
useful contra to the debt culture. They will get used to the
bank paying them, so when it comes to considering credit cards
later, they may be more likely to question the large interest
charges the bank makes for using the credit cards.
2. Encourage children to earn a bit of extra pocket money by
doing little jobs around the house or in the garden. Say this
will help them save for whatever it is they want to save for.
Car washing, mowing the lawn when old enough, vacuuming;
whatever needs to be done, ask if they would like to do the jobs
for the extra money. Then, when paid, encourage them, but do not
force them, to save at least part of the earnings. Again, this
could become a habit that will stand them in good stead later
on, and they will tend to consider the working route to extra
money rather than expensive borrowing.
3. When they start doing more advanced maths, say at 9 or 10
years old, help them do a little budget plan for their savings.
That will be a simple but quite mature approach for them.
4. The most difficult of all is to set a good example, but do
not make a big fuss about it. Mention casually once in a while,
for example when there's a commercial on television for a credit
card, that the charges are so high, but it is probably best not
to give serious lectures and warnings about credit cards and
debt. Try not to use credit cards yourself, especially lavishly
and in front of the children.
There is not guarantee that any of the above will make one iota
of difference, but at least, as with many aspects of parenting,
you have given it your best shot.
About the Author: Roy Thomsitt is owner and part author of the
http://www.eliminate-credit-card-debt-now.com website
Source: http://www.isnare.com
Friday, July 27, 2007
Credit Card Terminals
Credit Card Debt – Watch Your Credit Report And Your Bill
By Charles Essmeier
Most consumers are aware of the importance of their credit
report. This document, offered to consumers and lenders by the
three major credit bureaus, offers a fairly complete list of
financial transactions and debts incurred by a consumer.
Lenders examine the report, along with the associated FICO
score, to determine whether a consumer is worthy of receiving
additional credit or loans. What many consumers may not know is
that credit card companies regularly check their credit reports,
and unfavorable entries may result in a higher interest rate on
their credit cards.
We have previously noted that many credit card companies employ
something known as a “universal default clause” in their terms
of service. This clause allows the company to raise interest
rates on the customer’s card if the customer pays bills late. A
late payment to the phone company could result in a higher
interest rate on the Visa card. Most companies also allow
themselves the latitude to raise their customers’ interest
rates for any reason at all. With this in mind, the credit card
companies tend to run occasional credit checks on their
customers, often raising rates if they notice any activity
that, in their opinion, makes the customer a higher risk. This
might happen even if the customer has a history of paying his
or her credit card bills on time.
The sorts of things that may create a “risky” client include
taking out additional loans, additional credit cards, or
building balances on existing cards to at or near their limits.
The companies justify this activity by saying that consumers who
do these things create greater risk for the lender, and these
costs must be passed on to all of their customers. The problem
for the customer is that these higher interest rates are often
assigned without warning. The new rate applies to existing
balances, too. An interest rate hike today could mean that the
television you bought last fall has suddenly become more
expensive.
What can consumers do? Keep an eye on your credit card bill and
your credit report. You can receive a copy of your credit
report, for free, at http://www.annualcreditreport.com. As for
your credit card bill, watch the interest rate. If it abruptly
changes to a higher rate, call your credit card issuer and ask
them about it. They will often reduce the rate if you call and
complain. If not, your only option may be to shop around for
another card.
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.
Source: http://www.isnare.com
By Charles Essmeier
Most consumers are aware of the importance of their credit
report. This document, offered to consumers and lenders by the
three major credit bureaus, offers a fairly complete list of
financial transactions and debts incurred by a consumer.
Lenders examine the report, along with the associated FICO
score, to determine whether a consumer is worthy of receiving
additional credit or loans. What many consumers may not know is
that credit card companies regularly check their credit reports,
and unfavorable entries may result in a higher interest rate on
their credit cards.
We have previously noted that many credit card companies employ
something known as a “universal default clause” in their terms
of service. This clause allows the company to raise interest
rates on the customer’s card if the customer pays bills late. A
late payment to the phone company could result in a higher
interest rate on the Visa card. Most companies also allow
themselves the latitude to raise their customers’ interest
rates for any reason at all. With this in mind, the credit card
companies tend to run occasional credit checks on their
customers, often raising rates if they notice any activity
that, in their opinion, makes the customer a higher risk. This
might happen even if the customer has a history of paying his
or her credit card bills on time.
The sorts of things that may create a “risky” client include
taking out additional loans, additional credit cards, or
building balances on existing cards to at or near their limits.
The companies justify this activity by saying that consumers who
do these things create greater risk for the lender, and these
costs must be passed on to all of their customers. The problem
for the customer is that these higher interest rates are often
assigned without warning. The new rate applies to existing
balances, too. An interest rate hike today could mean that the
television you bought last fall has suddenly become more
expensive.
What can consumers do? Keep an eye on your credit card bill and
your credit report. You can receive a copy of your credit
report, for free, at http://www.annualcreditreport.com. As for
your credit card bill, watch the interest rate. If it abruptly
changes to a higher rate, call your credit card issuer and ask
them about it. They will often reduce the rate if you call and
complain. If not, your only option may be to shop around for
another card.
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.
Source: http://www.isnare.com
Thursday, July 26, 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
Monday, July 23, 2007
Credit Card Terminals
Debit Card Vs. Credit Card, What Are The Differences?
By James Dimmitt
Ah, the “good old days”. If you are a baby boomer, like me,
then you probably remember how important it was to rush to the
bank on payday. You had to get there before the teller lanes
closed so that you could have your “cash allowance” for the
week. Otherwise, if you needed cash you had to write a check,
then go to the bank, and “cash” the check for real cash.
Fortunately the days of the mad rush to get cash from the bank
are long gone. We now enjoy the convenience of using a nearby
automatic teller machine (ATM) or you can even get “cash back”
at your local grocery, hardware or convenience store.
The card you use at the ATM is known as a debit card. When
debit cards first appeared it was easy to tell them apart from
credit cards. Debit cards didn’t have a credit card company
logo on them; instead, they usually just had your bank name,
your account number and your name.
Today debit cards look exactly like credit cards even carrying
the same logos. Both types of cards can be swiped at the
checkout counter , used to make purchases on the internet, or
to pay for the fill-up at the gas pump.
When you use your debit card to make a purchase, it’s just like
using cash. The account that is attached to your debit card, in
most cases your checking account, is automatically debited when
you use your debit card. The cost of your purchase is deducted
from the funds you have in that account.
On the other hand, when you use your credit card to make a
purchase you are using someone’s else’s money, specifically the
issuer of the credit card, usually a banking institution.
In effect, you agree to pay them back the money you borrowed to
make your purchase. In addition you will also pay interest on
the money “loaned” to you at the rate which you agreed to when
you applied for their credit card. This is known as the annual
percentage rate (APR).
While the two cards might act and look alike, the levels of
consumer protection that each type of card provides can be
different.
Under federal law, if someone steals your credit card you're
only responsible to pay the first $50 of unauthorized charges.
However, if you notify the credit card issuer before a thief is
able to make any charges you may be free from all liability.
If the credit card is not physically present when an
unauthorized or fraudulent purchase is made, such as over the
internet, you’re also free from liability for those charges.
MasterCard and Visa offer zero-liability protection where you
won’t pay any charges if someone uses your credit card to make
an unauthorized purchase.
The protection offered to debit card fraud is similar but with
a few exceptions. For example, your liability under federal
law is limited to $50, the same as for a credit card, but only
if you notify the issuer within two business days of
discovering the card's loss or theft. Your liability for
debit card fraud can jump up to $500 if you don’t report the
loss or theft within two business days.
And if you are the type of person that gives a passing glance
to your monthly bank statement, you could be totally liable for
any fraudulent debit card charges if you wait 60 days or more
from the time your statement is mailed.
Visa and MasterCard zero-liability protection applies to your
debit card but only for transactions that do not involve the
use of your PIN (personal identification number).
Additional protection against fraudulent use of your credit or
debit cards may be available through your homeowner’s or
renter’s insurance. Check your policy or with your agent for
more information about your coverage.
Also be aware that you should contact your card issuer by
certified letter, return receipt requested, after you’ve
contacted them by phone to protect your consumer rights.
As for which card to use for what type of purchase, most
experts agree that you should use your debit card for the same
type of purchases you’d make as if you were using cash.
Therefore, it makes more sense to use your debit card than your
credit card at the grocery store or gas station (provided you
have sufficient funds to cover these purchases of course).
Avoid using your debit card for any online purchase or for
something which is expensive. Why ? You’ll find it much
easier to dispute a charge when you use your credit card. If
your gold-plated, limited edition, hip-swinging Elvis wall
clock arrives broken, your credit card company will remove the
charge until the problem is resolved.
With your debit card you are stuck dealing with the merchant
directly to resolve any problems with a purchase, even if your
banking institution could really use a gold-plated, limited
edition, hip-swinging Elvis wall clock of their very own.
About the Author: © 2005,
http://www.yourfreecreditreportnow.com Author: James H. Dimmitt
James is editor of “To Your Credit” a FREE weekly newsletter
focusing on managing your personal finances and credit.
Subscribe and get a FREE copy of your credit report when you
visit: http://www.yourfreecreditreportnow.com
Source: http://www.isnare.com
By James Dimmitt
Ah, the “good old days”. If you are a baby boomer, like me,
then you probably remember how important it was to rush to the
bank on payday. You had to get there before the teller lanes
closed so that you could have your “cash allowance” for the
week. Otherwise, if you needed cash you had to write a check,
then go to the bank, and “cash” the check for real cash.
Fortunately the days of the mad rush to get cash from the bank
are long gone. We now enjoy the convenience of using a nearby
automatic teller machine (ATM) or you can even get “cash back”
at your local grocery, hardware or convenience store.
The card you use at the ATM is known as a debit card. When
debit cards first appeared it was easy to tell them apart from
credit cards. Debit cards didn’t have a credit card company
logo on them; instead, they usually just had your bank name,
your account number and your name.
Today debit cards look exactly like credit cards even carrying
the same logos. Both types of cards can be swiped at the
checkout counter , used to make purchases on the internet, or
to pay for the fill-up at the gas pump.
When you use your debit card to make a purchase, it’s just like
using cash. The account that is attached to your debit card, in
most cases your checking account, is automatically debited when
you use your debit card. The cost of your purchase is deducted
from the funds you have in that account.
On the other hand, when you use your credit card to make a
purchase you are using someone’s else’s money, specifically the
issuer of the credit card, usually a banking institution.
In effect, you agree to pay them back the money you borrowed to
make your purchase. In addition you will also pay interest on
the money “loaned” to you at the rate which you agreed to when
you applied for their credit card. This is known as the annual
percentage rate (APR).
While the two cards might act and look alike, the levels of
consumer protection that each type of card provides can be
different.
Under federal law, if someone steals your credit card you're
only responsible to pay the first $50 of unauthorized charges.
However, if you notify the credit card issuer before a thief is
able to make any charges you may be free from all liability.
If the credit card is not physically present when an
unauthorized or fraudulent purchase is made, such as over the
internet, you’re also free from liability for those charges.
MasterCard and Visa offer zero-liability protection where you
won’t pay any charges if someone uses your credit card to make
an unauthorized purchase.
The protection offered to debit card fraud is similar but with
a few exceptions. For example, your liability under federal
law is limited to $50, the same as for a credit card, but only
if you notify the issuer within two business days of
discovering the card's loss or theft. Your liability for
debit card fraud can jump up to $500 if you don’t report the
loss or theft within two business days.
And if you are the type of person that gives a passing glance
to your monthly bank statement, you could be totally liable for
any fraudulent debit card charges if you wait 60 days or more
from the time your statement is mailed.
Visa and MasterCard zero-liability protection applies to your
debit card but only for transactions that do not involve the
use of your PIN (personal identification number).
Additional protection against fraudulent use of your credit or
debit cards may be available through your homeowner’s or
renter’s insurance. Check your policy or with your agent for
more information about your coverage.
Also be aware that you should contact your card issuer by
certified letter, return receipt requested, after you’ve
contacted them by phone to protect your consumer rights.
As for which card to use for what type of purchase, most
experts agree that you should use your debit card for the same
type of purchases you’d make as if you were using cash.
Therefore, it makes more sense to use your debit card than your
credit card at the grocery store or gas station (provided you
have sufficient funds to cover these purchases of course).
Avoid using your debit card for any online purchase or for
something which is expensive. Why ? You’ll find it much
easier to dispute a charge when you use your credit card. If
your gold-plated, limited edition, hip-swinging Elvis wall
clock arrives broken, your credit card company will remove the
charge until the problem is resolved.
With your debit card you are stuck dealing with the merchant
directly to resolve any problems with a purchase, even if your
banking institution could really use a gold-plated, limited
edition, hip-swinging Elvis wall clock of their very own.
About the Author: © 2005,
http://www.yourfreecreditreportnow.com Author: James H. Dimmitt
James is editor of “To Your Credit” a FREE weekly newsletter
focusing on managing your personal finances and credit.
Subscribe and get a FREE copy of your credit report when you
visit: http://www.yourfreecreditreportnow.com
Source: http://www.isnare.com
Friday, July 20, 2007
Credit Card Terminals
Used Car Auto Loan - Tips On Financing Your Used Car
By Carrie Reeder
Used cars are not as easy to finance as new cars. Lenders are
more hesitant of financing vehicles with unknown pasts.
However, you can find reasonable rates on auto loans by lining
up your financing before you go car shopping. A down payment of
10% or more, plus shopping with a car dealer can also improve
your rates.
Get Financing First, Then Car Shop
Pre-approved auto loans have a number of advantages. First, you
find out what you qualify to borrow before you get stuck in a
contract. You can also play around with loan terms to find a
reasonable monthly payment. And sellers are eager to close a
deal with a buyer that has secure financing.
Used cars loans often require a slightly higher rate, usually
.6 or more, than new car loans. However, rates vary widely
between lending companies, so it pays to shop around.
Processing your loan before your car purchase relieves you from
the pressure of signing with the first lender you find. It also
saves you money in lower rates.
Plan On 10% Down
10% is most often required for a used car loan. It signals to
the lender that you are investing in this purchase and are
willing to make payments. A larger down payment can improve
rates and offset low credit scores.
Another way to save money is to choose a short term loan. Since
a used car probably won’t last as long as a new car, five and
three year loans make the most financial sense. You save on
interest costs and can start saving for your next car.
Shopping With A Dealer
Some lenders also offer better rates when you purchase through
a car dealership, even with used cars. You should weigh all
your options when applying for this type of car loan.
Dealerships usually provide a partial warranty for their used
cars; they also charge more. You may be able to find an
excellent deal in the classifieds, but there is a level of risk
with that purchase. However, the difference in interest rates
between these types of loans is more than 1%.
About the Author: View our recommended Used Car Loan
http://www.abcloanguide.com/newcarloan.shtml lenders.
Source: http://www.isnare.com
By Carrie Reeder
Used cars are not as easy to finance as new cars. Lenders are
more hesitant of financing vehicles with unknown pasts.
However, you can find reasonable rates on auto loans by lining
up your financing before you go car shopping. A down payment of
10% or more, plus shopping with a car dealer can also improve
your rates.
Get Financing First, Then Car Shop
Pre-approved auto loans have a number of advantages. First, you
find out what you qualify to borrow before you get stuck in a
contract. You can also play around with loan terms to find a
reasonable monthly payment. And sellers are eager to close a
deal with a buyer that has secure financing.
Used cars loans often require a slightly higher rate, usually
.6 or more, than new car loans. However, rates vary widely
between lending companies, so it pays to shop around.
Processing your loan before your car purchase relieves you from
the pressure of signing with the first lender you find. It also
saves you money in lower rates.
Plan On 10% Down
10% is most often required for a used car loan. It signals to
the lender that you are investing in this purchase and are
willing to make payments. A larger down payment can improve
rates and offset low credit scores.
Another way to save money is to choose a short term loan. Since
a used car probably won’t last as long as a new car, five and
three year loans make the most financial sense. You save on
interest costs and can start saving for your next car.
Shopping With A Dealer
Some lenders also offer better rates when you purchase through
a car dealership, even with used cars. You should weigh all
your options when applying for this type of car loan.
Dealerships usually provide a partial warranty for their used
cars; they also charge more. You may be able to find an
excellent deal in the classifieds, but there is a level of risk
with that purchase. However, the difference in interest rates
between these types of loans is more than 1%.
About the Author: View our recommended Used Car Loan
http://www.abcloanguide.com/newcarloan.shtml lenders.
Source: http://www.isnare.com
Wednesday, July 18, 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
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