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Credit Card Articles

Credit Card Articles

American Express Credit Card
Founded back in 1850 and commonly referred to as AmEx, the American Express Company is a global provider of diversified financial services. With headquarters located in New York City, the entity is traded at the New York Stock Exchange, and its ticker is AXP. AmEx Company is well known for its charge cards, credit cards, and traveler's cheque businesses. The cards issued by AmEx account for about twenty-four percent of the total volume of transactions via credit cards in the United States (the volume is higher than that of any card issuer in the country).

Visa Credit Card
Since the dawn of electronic payments, Visa has been the most popular and most widely accepted credit card brand in the world. Many people have a VISA credit card, but few of them may know that VISA is actually an abbreviation for Visa International Service Association, a multinational corporation headquartered in San Francisco, USA. The company is traded at the New York Stock Exchange under the ticker “V”, and it has the largest electronic payment network in the world.

MasterCard
In 1966, a group of Californian banks created the bank card brand MasterCharge, the predecessor of MasterCard, as a major competitor to Bank of America’s BankAmericard. Today, MasterCard is the second most popular bank card brand after Visa, and it is headquartered in Purchase, the state of New York.

What is Credit Card
The Credit Card is a plastic card issued by a financial institution allowing the credit card holder to buy goods and services on credit. The credit card entitles the owner of the credit card to a line of credit. The credit card is a convenient payment tool, widely accepted throughout Canada and the world. Usually the credit card outstanding balance has to be repaid monthly and interest is charged on it, if not paid in full.

Canadian Credit Bureaus
A Credit Bureau is a company that collects and distributes information about your personal credit history. Examples of information that may be included in your credit report are the number of credit accounts you have (credit cards, lines of credit, mortgage, etc.), the balance of your credit accounts, your payment behavior, information about personal bankruptcy, loan applications, etc.

What is a Prepaid Credit Card
A Prepaid Credit Card is a credit card which looks exactly like any other credit card, but when you use it you do not borrow money from the lender. Instead, you are using part of your balance, which was prepaid earlier. More and more money lenders are starting to offer prepaid credit cards. Both prepaid Visa and prepaid MasterCard are available.

What is a Secured Credit Card
A Secured Credit Card is a credit card that uses cash deposit as collateral. Usually your secured credit card limit is the amount of cash used to secure the credit card. Secured credit cards are ideal solution for people with bad credit history or without credit history. Secured credit cards help people establish and/or re-establish their credit history.

Student Credit Cards
Student Credit Cards are credit cards designed to meet students' needs. Student Credit cards look as a regular credit card, but they have some important features setting them apart. For one student credit cards are easy to obtain, as long as you are a student. In most cases the student credit cards have higher interest rates than the average credit card. Student Credit Cards usually come with low credit limits.

Diners Club Credit Card
Diners Club was the first credit card company and was founded in 1950 by Frank McNamara, Ralph Schneider and Alfred Bloomingdale.

How to Build Good Credit Card History
It is vital to have a good credit history of borrowing money. If you never used a credit before, it might be a bit tricky to apply for a credit card. There is no record on the basis of which to determine whether it is risky to lend you money. Most likely, you have to apply to a minor issuer of credit cards, for example, a store. Alternatively, you can apply for a car loan. Once this is done, it is very important to repay the credit on time.

Credit Card Numbers
On credit cards, the numbers are not assigned randomly. In the number sequence, a digit has a certain meaning. Here, we explain the meaning behind each digit and what is the presented information with regard to the numbers on it.

Credit Card Applications
It is very convenient to possess a credit card as it lets you buy a number of items and you are not required to carry tons of cash with you. You are also not required to pay for your purchases at the moment, and this presents another benefit for you. Payments are made on installment basis. Customers widely use credit cards because of these benefits. This is the reason why the banks and other credit institutions are sending applications for credit cards. There are still some things which the applicants should do before they get approved. This statement is valid, although applying for a credit card is thought to be a simple process.

8 Credit Card Safety Tips You Must Know
The tips for credit cards safety can be followed in several simple ways. Credit card thieves are using new ways and techniques and this poses risks to the average customer, whether he is using the card for online or offline shopping. Do you think you are informed about the numerous tactics used by them? Some of the tactics include:

Credit Card Magnetic Stripe
Credit cards with magnetic stripes are widely used nowadays: the reason is that technology is practically everywhere. For many years it has been accompanying us. However in this industry, there are some new developments going on.

What are Smart Credit Cards
All features of cryptography are incorporated into the innovative application referred to as “smart” credit card. Built into the card, it contains a microprocessor. For the efficient functioning of these cards, cryptography is of prime importance. It is so because:

How to Get Rid of Credit Card Debt
Credit Card debt is something which is easy to get into but seems hard to get out. Although the path out is not easy it can be surprisingly simple.

What is Credit History
A borrower’s credit history can decide what loans or credit cards that the borrower is able to get. The better the credit history, the more offers the borrower will be accepted for, meaning that they can get access to lower interest rates and better terms.

No Interest Credit Cards
No interest credit cards, or zero per cent credit cards, are cards that charge zero percent interest for a short period. The no interest element is either for a balance transfer or it is for spending. It is never for both. If the no interest offer is for a balance transfer then it will only apply for the balance transfer, it will not apply for spending, which will be charged at a normal rate for credit cards. On the other hand a no interest spending card will only let the spending be interest free and any balances transferred will be charged.

Credit Card Processing
In our age of global connectivity and unlimited communications, online shopping and electronic payments have become an essential part of our everyday life. Not only does online shopping and bill payment save your time but with the latest boom in high technologies, it has also become undoubtedly save and secure. Also, the merchants who want to build a successful online business should make sure that they accept payments with a broad variety of different credit cards, as credit cards acceptance is the single and the most important step towards operating a sustainable business over the internet.

How to Apply for a Prepaid Credit Card
Types of prepaid credit cards offered by some of the biggest banks in Canada - Ways to file a prepaid credit card application

What is Credit Card Consolidation
It cannot be denied that credit cards are the most flexible and convenient payment vehicles available nowadays. But it is equally true that you can easily find yourself buried in debt, especially if you use your credit card to buy things you cannot afford, paying off just the minimum monthly installment. This happens because some credit cards have a minimum monthly installment of just two percent of the used credit while the annual interest rate on them is as high as over nineteen percent. So, by paying off just the minimum amount each month, you are basically paying only the interest on your credit card debt, at best.

Credit Card Offers
If you have already weighed the pros and cons of having a credit card and you have decided in favor of having one rather than paying in cash, it’s time to search for a good credit card offer. This short guide will help you find a credit card that matches your financial needs, while maintaining a good balance between annual fees, interest rate, grace period, and reward programs.

How to Dispute Credit Card Charges Successfully
Imagine you have just received your credit card and, anxious to make your maiden purchase, you have bought some expensive electronic gadgets to make your wife and kids happy. But all of a sudden, these gadgets break down or malfunction for some weird and quite ungodly reason. Now you realize that you have to pay monthly installments and bulky interest for a pile of broken stuff. This situation is really unpleasant, isn’t it? Relax and don’t panic.

Credit Card Deals in Canada
If you are looking for hot credit card deals in Canada, Internet is a good place to start your search. Once you find a good website to shop around, browse through credit card offers by issuer, i.e. by bank, or by the type of credit card. The guide below looks at the available credit card offers by type of card.

How to Reduce Credit Card Debt
There is one strange thing about our age: for some reason, we are willing to pay for real goods and products with virtual or electronic money. And then, when time comes to pay to our credit card issuer, we pay the amount of electronic money, plus a substantial interest rate and an annual fee. In other words, modern day consumers have to realize that the “convenience” of using electronic money usually costs a lot of hard cash.

How to Get a Credit Card After Bankruptcy
If, by some hapless flow of financial circumstances, you have found yourself compelled to file for bankruptcy, it is important to gradually rebuild your credit history and establish a positive credit score. Living on a cash-only basis requires careful budgeting and prudency each month, and it can prove extremely stressful in the long run. Still, this strategy may be a good choice for those who are really incapable of handling credit.

How to Get a Credit Card with No Credit History
Building a good and stable credit score has never been so important as it is today. If you have not established a credit record yet, you have the rare chance to build a credit history the right way. It will allow you to apply for larger loans later in life. In addition, your credit history determines whether you will get a decent job, a good home, a mobile phone deal, and preferential rates on insurance.

How to Build Credit with Secured Credit Cards
If you are planning to take out a mortgage, maybe it will be a good idea to start thinking of your credit score. The situation with credit is somehow weird: it is hard to get one if you don’t already have a credit record, and if you already have a credit score, then you simply don’t need to borrow any more. Young people and those who have never borrowed before need to build a good credit history over time so that they can qualify for larger loans in the future.

What is Credit Counseling
Recent statistical data shows that nowadays, more and more Canadian citizens find it particularly difficult to manage their debts. Being in debt is particularly unpleasant, as it may easily lead to distress or even depression: consider all the threatening phone calls and letters from banks and creditors, informing you that they are planning to foreclose on your property or have your paychecks redirected to their bank accounts until your debt is settled. This is quite scary, especially if you have children or other dependents.

Canadian Subprime Lenders
In Canada, subprime lending refers to diverse lending practices such as tax rebate loans, internet lending, vehicle financing, payday loans, subprime mortgages, cheque cashing, rent-to-own financing, and pawnbrokers.

Online Banking in Canada
The online banking sector in Canada is well developed and functioning. Below is an overview of the online banking services offered by big Canadian banks such as the Royal Bank of Canada, CIBC, and Toronto-Dominion Bank.

Top 10 Credit Card Processors
This guide reviews the top ten credit card processing services in the world, comparing them against criteria such as average approval rating, start-up cost, cost per month, account set up time, customer service quality, online and POS features, etc.

How to Pay for an Online Purchase With a Credit Card
In our age of Internet, global communications, and electronic money, online payments have become very popular. No doubt, credit cards are a great convenience, no matter if you want to book a hotel room, rent a car or buy something from E-bay while sitting comfortably in front of your computer. You will have to follow very much the same steps in order to complete your credit card payment.

How to Get a Fixed-Rate Credit Card
Recent economic and business reviews show that fixed-rate credit cards have become a thing of the past. Nearly all of America’s biggest banking groups and financial service providers, including J.P. Morgan Chase & Co and Bank of America Corp, are rapidly switching from fixed rate to variable rate credit cards. This is an attempt, they say, to cope with the changing market conditions and fluctuating business costs.

How to Request a Credit Limit for a Credit Card
One of the very first things to do when applying for a credit card with your bank (or when you accept prequalified offers from a credit card issuer) is to establish the credit limit of your card. In most cases, it is at the sole discretion of the credit card issuer to decide how much he will lend you. Fortunately, you can ask for an increase in your credit card limit after the first year or so, provided you don’t have any late or foregone payments. Alternatively, your credit card company may reward you with a higher limit on your credit card if you are a diligent payer. Here is a simple six step guide on how to get a higher credit card limit.

How to Accept Credit, Debit and PayPal Payments Online
Paying online by credit or debit card is no longer science fiction, turning into normal everyday routine for many. In view of the growing tendency to shop online, many businesses began to incorporate online payment systems that allow them to accept credit and debit card payments. Payment gateways help them attract potential customers and stay competitive.

How to Find the Perfect Unsecured Credit Card for You
In our modern busy lives, having a credit card is no longer a luxury but a matter of necessity which makes the daily ground easier and saves a lots of hassle. Credit cards are a definite must for those who fish out for online discounts, need an immediate cash advance, seek to rent a car, buy a last minute air ticket or even book a hotel.

How to Reactivate an Inactive Credit Card
There are many reasons why credit card holders can leave their card dormant for a longer period of time – perhaps they used the services of another credit company that offered better conditions or they simply did not make any major purchases for some time. Some credit companies may also interpret inactivity as a sign of personal financial difficulties and thus become suspicious of their customer if he decides to reactivate his card. This is especially relevant if the customer is planning to consume the line of credit as quickly as possible.

How to Select the Best Credit Card
Nowadays, credit cards are offered by many issuers that use numerous tricks and offers to attract new customers - zero percent interest for certain transferred balances, lower financing rates, a number of rewards and bonuses, etc. For this reason, there are important issues to keep in mind when choosing a credit card.

How to Get a Paypal Account Without a Credit Card
Nowadays, a growing number of people choose to shop and pay their bills through credit and debit card processing systems. Online bill payment and shopping saves time and is becoming more secure.

How to Get Cashback Credit Cards
Cash back is a simple concept that has been invented by credit card companies to make them more competitive on the global market. Basically, it means that the customer gets a “reward”, the amount of which is proportional to the transactions and loyalty to the respective credit card company.

When Do Payments Show on Your Credit Report
One’s credit report is a document that shows information about their credit history, borrowing and repaying, loans and credit card payments. It is the first thing a bank or a credit union looks at when they are deciding on whether to give you a loan or approve you for a new card.

What Payments Do Credit Card Companies Accept
Credit cards offer a very convenient and quick way to pay for your purchases. However, they also demand more responsible tracking of your account.

How to Cancel a Credit Card
There are several important issues to consider if you’d plan to request the cancellation of your credit card. First, you have to differentiate between temporary and permanent credit card cancellation. The first could be requested in case of emergency if, for example, the credit card has been lost or stolen.

What Credit Card Raises Your Credit Score Faster
To say that a certain type of credit card is a credit score booster, with magical force and immediate effect, will be as far from the truth as Earth is from the Moon. Instead, it is better to repair your credit score by using your credit card regularly and responsibly.

Understanding Credit Card Terms
Although more and more people nowadays use credit cards to shop and pay their bills, few of them actually bother to read through the cardholder agreement, which states the terms and conditions under which the credit card could be used. On the other hand, it is partially the credit card company at fault that the agreement is almost always printed out in really small fonts that make it difficult to read.

How to Report Credit Card Fraud
Identity theft is the most common and, by far, the most dangerous credit card fraud a cardholder may experience. Identity theft refers to the fraudulent use of your personal information (e.g. birth date and Social Insurance Number) with the purpose of committing financial fraud.

5 Steps to Get a Credit Card With Low Income
Hundreds of thousands of credit cards applications are filed every day around the world, and a great deal of these applications are approved, even if the applicant has declared a somehow moderate monthly income. Given the large volume of approved applications, it should not be a problem to get a credit card if you have a low monthly income, provided that you manage to convince your credit card issuers that you will be a responsible and reliable payer.

5 Factors That Affect Your Credit Rating
The credit rating of an individual or corporation is a report which shows how capable a certain entity is of returning a prospective loan. A credit rating report is typically requested by banks, credit card companies, or other lenders, before they issue a loan, so that they can determine the risk of defaulting on that loan as well as the loan interest rate (the higher the risk of defaulting, the bigger the interest rate on the loan). Credit ratings are prepared by specially authorized credit reporting agencies, which take into consideration the following main factors:

Does Paying a Collection Agency Improve Your Credit Score
A collection account is to an extent the worst negative indicator on your credit account, because it means an account that is very past the due date for payment. If you are already a couple of moths late on your payment, be it a medical bill, a credit card or a phone bill, your creditor can place collection status on your account. Sometimes, consumers have already paid their dues and have to prove the case. On other occasions, borrowers simply cannot keep up with their monthly payments and a collection account may be opened by the creditor. Keep in mind that if you have a collection on your report, your credit score may drop by 50 or more points.

Credit Card Advantages and Disadvantages
Gaining enormous popularity in the past several decades, credit cards have become an indispensable staple of modern society, changing forever the way we make our everyday purchases. In this day and age, credit cards are so widespread and commonplace that many card holders use them without even realizing their general features. The present guide will enlist some of the most typical advantages and disadvantages of credit cards.

Credit Card Debt Vs. Consolidation Debt
Credit card debt is basically unsecured personal debt; when a customer of a credit card issuer buys an item with a credit card issued by that company. Due to the high interest rate that credit card debts carry, many people prefer to take out another debt (called consolidation debt) in order to settle their obligations to the credit card company. The present article considers the pros and cons of this debt solution, with its ultimate success or failure depending on the particular circumstances one is faced with.

How to Stop a Credit Card Payment
Whether you obtain a credit card via a major financial institution or a card store, chances are you will be using your card to make regular payments to take the hassle out of doing so face-to-face. Most banks have their own policies on how this can be set up, waiting periods and how to stop credit card payments. As a rule, all major credit cards like Visa, MasterCard and American Express (Amex) provide automatic payments regardless of the bank through which you obtain them, although, you are urged to check with your bank for specific regulations.

How to Check Your Credit Report for Errors and How to Fix That
Credit bureaus regularly retain information regarding your payment and credit habits through a very detailed credit report. This document is known to contain a number of personally identifiable information, such as your name, date of birth, credit history, a list of parties whom you have allowed to read your report, as well as records on public domain with regards to your credit. This document is maintained so that you can have an objective and standardized credit rating established.

How to Consolidate Credit Card Bills
Consolidating credit card bills can be a good move as long as repayments are lumped together in one loan with lower interest rates. Consolidation of credit card bills is simply the process of accumulating all credit card debts into one outstanding debt that comes with reasonable repayment terms. There are many different methods of consolidating your bills. One way to go about it is to use the services of a debt consolidation company, while another option is to try and deal with the consolidation process on your own.

How to Remove Late Pay History from Your Credit Report
In an age of global connectivity and perpetual consumption, having a good credit record has become something quite important, not to say essential, especially for the citizens of developed countries. As the Canadian economy has just started emerging from the recession, an increasing number of Canadian citizens and permanent residents with tarnished credit scores have started looking for ways to clean them up.

Where to Report a Credit Card Company
If you are a Canadian citizen or permanent resident, tired of being pestered with constantly increasing interest rates and daunting late payment fees, you may report a credit card company to the Ministry of Consumer Protection and Canada’s Office of Consumer Affairs for help.

How do People Get in Credit Card Debt
One can easily get into credit card debt, if he or she uses his/her credit card to buy expensive but generally useless things, or if they sign up for multiple credit cards. However, there are two main types of debt: avoidable and unavoidable.

Credit Card Tips for Students
Credit cards are becoming increasingly popular among the college students in Canada. If you are in college, it is best to read the tips below and make your credit card work for you.

Why Do Credit Card Companies Target Students
The goal of credit card companies is to increase their sales through marketing a large variety of financial services. One of their venues for gaining more profit is credit cards that appeal to the student population. You may wonder what the reason is, but in fact there are many. Students are often quite emotional, while socializing almost always involves a good amount of cash. These are just two of the aspects credit companies focus on when developing their marketing strategies.

How to Find a Low Interest Credit Card
Favorable rates and lucrative offers make low interest credit cards a preferable choice of many customers. If you have a good credit standing, providers will compete to win you over, letting you choose among their best financial products.

What is a Credit Card Limit
A credit card limit stands for the maximum credit amount that a creditor will extend to a cardholder for the given life of credit. The credit limit is the maximum amount a borrower is allowed to take out at once.

What is an Airmiles Credit Card
An airmiles credit card is a type of credit card that allows cardholders to collect bonus air miles. Persons who travel frequently enjoy the fact that frequent flyer miles or points can be earned for every trip they make. Miles add up, no matter if you travel abroad, within your state, or from one city to another. As long as you charge items on your credit card, you accumulate air miles.