Credit Card ’s Talk

Are you looking for details about the Blue Cash Card for Business? The Blue Cash for Business Card is issued by American Express and is a nice option for business owners with average credit who want to take advantage of a great cash back reward program while making regular purchases for their business. The cash rebate varies according to where you use the card but there are many different options for you.

You can earn a cash back rebate of up to 5% at OPEN Savings locations and up to 2.5% for all other general purchases. However, once your spending for the year reaches $15,000, the rebate on the ?Open Savings? purchases goes down to 2% and all other purchases are 1%. Examples of some of the ?Open Savings? locations are FedEx, Hertz and 1-800-FLOWERS.com.

This card has no annual fee and a 0% introductory rate on your purchases for six months. You have a 7.99% introductory rate on balance transfers in that first six months as well. There are also lower interest rates for purchases for those who qualify. After the introductory period, your APR goes to 10.99% variable on purchases and 22.99% on cash advances.

The Blue Cash for Business Card also has purchase protection, travel accident insurance, and various travel and emergency assistance services which are very helpful to business owners. The card has no annual fee, no minimum or maximum credit limits, a 25 day grace period, over limit fee of $35 and 3% cash advance fee. Late payment fees are $15 on balances up to $100; $29 on balances of $100 through $1,000 and $35 on balances over $1,000.

The rewards program has no maximum limit and no expiration to use reward points which is another great bonus to this plan. This is a great card with reasonable rates for your business expenses and the reward plan is an added bonus for business owners.

For more information or to apply for the Blue Cash for Business Credit Card, Beth Derkowitz recommends Find Credit Cards.

You have never used a credit card due to the horror stories you?ve heard on credit card fraud, over-billing and snowballing debt. Lately however, you have come to realize that convenience from credit cards actually outweigh the drawbacks. Still skeptical, you are keen to determine how credit cards are billed before you decide on your next step.

A credit card is a small plastic card fitted with a magnetic stripe at the back that stores the electronic form of your personal information. Thus, when you make a charge to your card, your credit card is swiped onto the credit card terminal which will read the information on your card. Next, the sales assistant or cashier processing your transaction will enter the charge amount into the credit card terminal.

As this machine is connected online through a credit card network (such as MasterCard or Visa), the charge amount and your credit card information is sent through the network to the credit card company. A debit is then made into your account and a credit made to the merchant account. Then, an approval code is sent back through the network to the credit card terminal and a transaction slip is printed. In order to curb bogus transactions, you will be asked to sign onto the transaction slip to verify the transaction.

Credit card companies bill their customers based on a monthly billing cycle. Charges are usually interest free on the first month, with interest charges applicable only if you have not paid off your outstanding balances. A credit card statement will be sent to your mailing address, detailing all the transactions that you have made over the last billing cycle. Apart from that, a due date for payment is also listed in your bill, after which a penalty charge for late payment will be incurred.

Most credit card companies require you to pay off a minimum of 2% of your outstanding balance (in addition to a minimum dollar amount in cases where the 2% value is too small). The rest of the outstanding charges which have not been paid will remain as your total credit card debt, plus interest charges.

As online shopping is gaining popularity, much of the purchases made over the Internet have been transacted with credit cards. The charge process is pretty much the same, with the only difference being that you don?t get a transaction slip given to you for your signature. Instead, you may be asked additional verification information such as your billing address as well as the security code printed at the back of your card. Also, for additional digital security, technology such as Secure Electronic Transactions and Digital Certificates are utilized for additional protection.

Alan Bernstein recommends Find Credit Cards to apply for a Citibank credit card today.

http://www.findcreditcards.org

If you don’t understand the language, credit card offers and statements could lead you to deep debt — or at least furious frustration. For the big scoop on the fine print, here’s what these frequently used credit card terms mean.

1.Average daily balance — This is the method by which most credit cards calculate your payment due. An average daily balance is determined by adding each day’s balance and then dividing that total by the number of days in a billing cycle. The average daily balance is then multiplied by a card’s monthly periodic rate, which is calculated by dividing the annual percentage rate by 12. A card with an annual rate of 18 percent would have a monthly periodic rate of 1.5 percent. If that card had a $500 average daily balance it would yield a monthly finance charge of $7.50.

2.APR(Annual percentage rate) — A yearly rate of interest that includes fees and costs paid to acquire the loan. Lenders are required by law to disclose the APR. The rate is calculated in a standard way, taking the average compound interest rate over the term of the loan, so borrowers can compare loans.

3.Balance transfer — The process of moving an unpaid credit card debt from one issuer to another. Card issuers sometimes offer teaser rates to encourage balance transfers coming in and balance-transfer fees to discourage them from going out.

4.Cash-advance fee — A charge by the bank for using credit cards to obtain cash. This fee can be stated in terms of a flat per-transaction fee or a percentage of the amount of the cash advance. For example, the fee may be expressed as follows: 2%/$10. This means that the cash advance fee will be the greater of 2 percent of the cash advance amount or $10.

The banks may limit the amount that can be charged to a specific dollar amount. Depending on the bank issuing the card, the cash advance fee may be deducted directly from the cash advance at the time the money is received or it may be posted to your bill as of the day you received the advance. The cost of a cash advance is also higher because there generally is no grace period. Interest accrues from the moment the money is withdrawn.

5.Card holder agreement — The written statement that gives the terms and conditions of a credit card account. The cardholder agreement is required by Federal Reserve regulations. It must include the Annual Percentage Rate, the monthly minimum payment formula, annual fee if applicable, and the cardholder’s rights in billing disputes. Changes in the cardholder agreement may be made, with written advance notice, at any time by the issuer. Rules for imposing changes vary from state to state, but the rules that apply are those of the home state of the issuing bank, not the home state of the cardholder.

6.Finance charge — The charge for using a credit card, comprised of interest costs and other fees.

7.Floor — The minimum rate possible on a variable-rate loan or line of credit, after any initial introductory rate period. For example, on a credit card with the Prime rate as its index, no matter how low the Prime rate drops, the rate on the line may never decrease below the stated rate floor.

8.Free Period — Also called a grace period, a free period lets you avoid finance charges by paying your balance in full before the due date. Knowing whether a card gives you a free period is especially important if you plan to pay your account in full each month. Without a free period, the card issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account. If your card includes a free period, the issuer must mail your bill at least 14 days before the due date so you’ll have enough time to pay.

9.Minimum payment — The minimum amount a cardholder can pay to keep the account from going into default. Some card issuers will set a high minimum if they are uncertain of the cardholder’s ability to pay. Most card issuers require a minimum payment of two percent of the outstanding balance.

10.Over-the-limit fee — A fee charged for exceeding the credit limit on the card.

11.Periodic rate — The interest rate described in relation to a specific amount of time. The monthly periodic rate, for example, is the cost of credit per month; the daily periodic rate is the cost of credit per day.

12.Pre-approved — A credit card offer with pre-approved only means that a potential customer has passed a preliminary credit-information screening. A credit card company can spurn the customers it invited with pre-approved junk mail if it doesn’t like the applicant’s credit rating.

13.Secured card — A credit card that a cardholder secures with a savings deposit to ensure payment of the outstanding balance if the cardholder defaults on payments. It is used by people new to credit, or people trying to rebuild their poor credit ratings.

14.Teaser rate — Often called the introductory rate, it is the below-market interest rate offered to entice customers to switch credit cards or lenders.

15.Variable interest rate — Percentage that a borrower pays for the use of money, and which moves up or down periodically based on changes in other interest rates.

I hope this terms will help you out a little when choosing your next credit card.

-Thomas Lindstr?m- owner of: http://www.greatestcreditcardsite.com

Credit card issuers keep on adding new features to credit cards to woo potential customers. A credit card balance transfer is one among them. You can transfer your outstanding card balance (or balances) from your higher interest credit cards onto a balance transfer credit card with a lower introductory interest rate. American Express was the first credit card issuer to adopted this strategy and other card issuers quickly followed suit.

To understand the balance transfer process, you need to understand the various terms associated with balance transfers such as APR, annual fee, introductory rate and balance transfer fees.

The annual percentage rate (APR) is the interest rate that a credit card user has to pay for carrying over a balance, transferring a balance from another card, or taking out a cash advance. Depending upon the specific card offer, some credit card companies will also charge an annual fee just for card membership. Unless the card has a significant rewards offer, you should avoid balance transfer cards that require an annual fee.

An introductory rate is a special annual percentage rate (APR) for a limited time. If you have a good credit history, you may get the benefit of low introductory rate for a longer period than cardholders with poor or suspect credit histories.

Transferring your Credit Balance

As long as you pay credit card balance in full each month, you should not have to bother with balance transfers.

Unfortunately, credit card debt can build quickly if balances are not paid in pull, but if used correctly a credit card balance transfer can buy you time so that you may pay down the debt without incurring exorbitant finance charges. Balance transferring is as simple as filling out the application of your card issuer of choice. But you should carefully investigate and research the terms and conditions of your new card to avoid things like balance transfer fees, penalties and surcharges that some cards will employ.

Card companies like Visa, American Express, MasterCard and Discover have many different kinds of cards and many of them have attractive balance transfer features.

Some questions that you should asking about balance transfer cards:

1. What is the ongoing APR of the card after the introductory rate expires?

2. How long the introductory rate last?

3. Will I be able to payoff the balance transfer by the end of the introductory APR offer?

3. Does the card offer an introductory APR on new purchases as well as transferred balances?

4. Are there any balance transfer fees?

5. Are there any hidden charges?

Some credit card issuers will whack consumers with significantly higher APR’s after the introductory rate expires. If you plan on carrying the card balance past the introductory rate offer, this particular balance transfer offer may not be suitable for you.

In this case, finding a card that offers both a balance transfer offer with a lower ongoing interest rate is the most ideal solution, particularly if you are unable to pay off your debt within the introductory period. At a minimum, you should select a card that offers a competitively low introductory rate that lasts until you can pay off the amount you transferred.

Many credit card companies will often charge fees for balance transfers. You should be very cautious when selecting balance transfer credit cards that charge transfer fees, which can be significant. There are a wide variety of card offers that either do not charge transfer fees at all or have nominal transfer fees that are reasonable. Stick with the balance transfer offers that do not charge you fees. Additionally, you should also find a balance transfer card that gives you the freedom to transfer balances throughout the introductory period, not just when you open the account and do the initial balance transfer.

Most of all, do not misinterpret the thought of balance transfers as a way to escape your debt obligation. It does not mean that you can avoid paying your debt; it simply provides you more time to pay the balance off without incurring steep finance charges. But if you are not careful, utilizing a balance transfer irresponsibly can often times add significantly to your debt burden. For example, if you pay only the minimum after transferring your card balance and do not pay down the card balance by the time the introductory offer expires, plan on paying out significantly more in finance charges.

For more about credit card balance transfer offers, Robert Alan recommends that you visit CreditCardAssist.com

Credit card fraud has become surprisingly common nowadays. Credit card fraud can potentially cause consumers a great deal of stress and hassle. Therefore it is important to pay attention to the security features offered in your credit card deal. For example, in the case of unauthorized charges on your card, are you liable for any portion of that money?

Credit card fraud protection is also increasing with credit card companies striving to contain fraud and consumers becoming more aware of the problem. There are certain steps you can take to make sure that you are protected from credit card fraud.

When you apply for a credit card, make sure you look at the security and credit card fraud prevention features offered by the issuing company. Fraud protection features are important for individuals and businesses.

You can protect yourself from credit card fraud by checking your monthly statements. This way you will be able to detect any unauthorized charges on your credit card. You will have to contact the credit card company to let them know. The earlier you spot such fraudulent charges, the less negative effects they will have. Many companies and banks also offer online account management where you can access your statements 24 hours a day.

To protect yourself from credit card fraud you should never reply to an email message that appears to come from your credit card company or your bank. This is an omnipresent scam where fake email messages are generated to trick people into handing over their account numbers and other personal information. Also do not give personal information when you receive a phone call purportedly from your credit card company. Be sure to call them yourself or when online enter their web address to reach the issuer?s Website.

Try to keep your credit card with you as much as possible. When handing it to a waiter at a restraunt, be sure it is returned promptly. Keep it safe from view of others when in public so your account number stays safe. Also carry the credit card in a safe place such as in a wallet so that you do not drop it accidentally.

It is important to properly dispose off statements and other documents to prevent thieves from going through your trash and stealing your identity. This is where a shredder can come in handy.

If your credit card gets stolen or you find any indication of credit card fraud, you should report the problem immediately to the issuing company or bank. They usually have a fraud prevention hotline where their customers can report fraudulent activity.

Small steps can help you avoid falling victim to credit card fraud. While many credit card companies offer zero or limited liability for unauthorized charges, it can be a great hassle correcting the mistakes, especially on your credit report.

About The Author
Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.

What Is A 0% APR Credit Card? Many of us have heard about them, but has anyone every explained 0% APR credit cards to you? Well, for starters, the APR or annual percentage rate is the rate of interest credit card companies charge on outstanding payments. The amount you are charged depends not only on the rate of interest, but also on the method of calculation of rates of interest. 0% APR credit cards are credit cards that charge you no interest on credit, for a specified period of time. The best 0% APR credit cards offer 0% APR?s to customers for up to 12 months. After 12 months the credit card issuer charges you at the normal rate. The card issuer assumes a risk by offering you interest free credit for such an extended period. They balance that risk by offering 0% APR credit cards to only customers with the best credit.

What Determines Your Credit?

Your credit depends on a number of factors. Your credit score, also known as the FICO score is widely used as a credit rating for Americans. Since your credit rating will determine whether you are issued a 0% APR credit card, knowing what goes into the score helps a great deal. Your credit score is determined based on five parameters. The most important among these parameters is your current debt and your history of repayment of debt.

The other three parameters for calculation of credit score are the length of your credit history, amount of new credit and types of credit used. Based on these five parameters, the individual is given a score ranging from 300 to 850. This is indicative of the credit worthiness of the person at a particular point of time. People with credit scores above 770 usually qualify for a 0% APR credit card. However scores above 700 are also considered good. 0% APR credit cards typically require, at a minimum, very good credit and often will require excellent credit.

One method used by customers to avoid interest is balance transfer credit cards. It is possible to shift from a credit card that charges interest to a 0% APR credit card using a balance transfer, provided you have the requisite credit. Once the introductory period of the card expires, people often shift to other 0% APR credit cards using the balance transfer method. Doing this however harms your credit rating and can hurt your prospects of receiving good credit in the future.

Prudence Pays

It is good to be informed of clauses like the universal default clause. This clause states that if you default on your payments to one creditor, for example a bank, it affects your credit rating and can increase the rate of interest you are charged elsewhere. Responsible vendors realize that informed customers make for the best customers in the long run.

0% APR credit cards sometimes come topped with other offers. You can find a variety credit card offers online that come at 0% APR from the best companies. Choose the 0% APR card that makes the most sense financially and functionally. And always try to maintain you good credit rating that got you your 0% APR credit card in the first place.

For more on the very best 0% APR credit cards, Robert Alan recommends that you visit CreditCardAssist.com