Credit Cards Online Information

"I get so annoyed when I go into a place that only takes cash that usually I end up going somewhere else," she said.

Jostedt, 24, was born in the 1980s, the leading edge of a generation that is shunning paper payments like no other before it.

These young consumers so consistently reach for debit and credit cards that Visa USA has anointed the age group "Generation Plastic," or "Gen P."

Their habits are driving even more merchants to accept debit and credit cards and raising more concerns about the nation's shriveling savings rate.

Plastic payments -- including online commerce -- now account for 50.4 percent of the spending among consumers ranging from 18- to 24- years-old, with cash and checks making up 41.1 percent of their spending. Consumers 25 to 34 years old spend about 45 percent either way, while everyone older still uses cash and checks at least half the time, according to Visa, the nation's largest payment network.

"All paper-based payments are in retreat," said David Robertson, publisher of The Nilson Report, a newsletter that's been following spending trends since 1970. "People of a certain age don't even know where their checkbook is."

Judy Jostedt, Erica's 55-year-old mother, isn't so sure that's a good thing. Although she uses debit cards more frequently, Judy still writes about a dozen checks each month, partly because she feels her canceled checks help her monitor spending.

"I guess I'm a dinosaur," she said. "I worry that kids today don't even know where all their money is going every month."

As a whole, Gen P isn't using credit cards any more frequently than other age groups, but depends more heavily on debit cards. Gen P uses debit cards to pay for 28.2 percent of their purchases compared to just 7.1 percent among those older than 45, according to Visa.

Debit cards -- which avoid debt by withdrawing the purchase amount from a consumer's bank account -- were used to pay for an estimated 23.1 billion transactions nationwide during 2005, surpassing the estimated 20.3 billion transactions paid by credit card, according to the Nilson Report.

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The Department of Defense has issued the one millionth and the 1,000,001st Common Access Cards (CACs). CACs are the newest, smart card-based identification cards. The ceremony was held at Fort Belvoir, Va., on Aug. 28, 2002. By issuing these cards to Air Force and Navy military officers at an Army installation, the DoD was able to demonstrate the "purple nature" of the CAC.

Construction Mechanic 1st Class Ricky E. White, a petty officer with the United States Navy, was issued the 1,000,001 st Common Access Card signifying the "start of a new generation," according to Mary Dixon, Director DoD Access Card Office. CM1 White has been in the Navy for 13 years.

Lt. Gen. Harry D. Raduege Jr., Director of Defense Information Systems Agency (DISA), and manager of National Communications System in Arlington, Va., received the one millionth Common Access Card. DISA has been heavily involved in the common access card program and is a "critical partner in the development of the issuance process," said Dixon. The CAC Program is an example of successful partnerships among all the armed forces, Office of the Secretary of Defense, and Defense agencies according to Raduege.

The CAC is the standard military identification and the principle card used to enable physical access to buildings, installations, and controlled spaces. It also permits access into DoD's computer networks and serves as the authentication for the department's computerized public key infrastructure (PKI). The CAC provides DoD the information security and assurance necessary to protect vital information resources.

It is a monumental step in our nation's steadfast determination to accomplish information security and assurance. Our national security strategy revolves around long-standing goals as a nation to maintain the sovereignty, political freedom, and independence of the United States, with its values, institutions, and territory intact; to protect the lives and personal safety of Americans, both at home and abroad; and to provide for the well-being and prosperity of the nation and its people. The CAC is an important example of the department's efforts to use cutting-edge technologies to reform Defense's business processes, to eliminate paper-based activities, to ensure the security of its networks, and consequently to enhance military readiness.

# posted by Medical Information : 2:48 AM  0 Comments

Five guiding principles can help your organization achieve revenue cycle success:

* Have appropriate job functions and work flow design in place.

* Elevate staff performance through quality and productivity goals.

* Ensure effective technology infrastructure is in place.

* Deploy at all levels a comprehensive management tool set and report card metric (dashboard).

* Sustain a culture of accountability.

Are your revenue cycle processes "state of the dark" or "state of the art"? Stanford University Medical Center fosters a culture of accountability. Its revenue cycle is metric-driven for performance and sustainability. Its report cards and dashboards provide the controls, focus, and acknowledgment for doing things right. Peter Drucker's classic definition of management as "achieving results through others" still rings true.

A successful and sustainable revenue cycle reflects a team of accountable, talented, committed individuals who know how to execute well and are constantly learning and retooling, continually trying to make what is good better. We all work with challenging situations and less than optimal tools as our organizations make difficult choices around discrete resources. With consistent and straightforward use of and adherence to performance-based report cards, an infrastructure and culture can be created and sustained that go beyond any one individual or revenue cycle leader.

Think of the revenue cycle in terms of a team sport, such as basketball. All National Basketball Association teams play well. What separates one team from another besides individual skill mix is how well they execute the fundamentals. All players at this level have great field goal shooting percentages. If, however, they can improve by 1 percent (getting clean bills that pass all edits and "score" a payment the first time), it will make a difference over time. If the team can reduce the number of turnovers (denials) by just 1 percent, over time it can make a difference between a successful franchise (organization) and one that is just in the league. Continually and perhaps routinely executing well on fundamentals and constantly improving marginally differentiates top performers.

# posted by Medical Information : 2:47 AM  0 Comments

Home values are way up, interest rates are way down, and personal incomes have been way stagnant. Should you tap into that burgeoning home equity to fix the family room, buy a new cat or pay off credit cards? For millions of Americans over the past two years, the answer has been a no-brainer, Fueled primarily by interest rates, the total outstanding value of mortgage debt hit a record high in recent months--while owners' equity as a percentage of home values dropped to an an-time low.

The reasons behind the surge in home-equity borrowing are both obvious and compelling. The interest rate on a home-equity loan or line of credit tends to be far less than that on credit cards, interest is tax deductible (unless you get a jumbo loan, worth more than the value of the house), the repayment terms are spread out and somewhat flexible, and just about anyone with a house has access to the money.

"Home-equity borrowing is a new form of financial heroin," says Rick Adkins III, board of governors chair for the Denver-based Certified Financial Planner Board of Standards Inc. and CEO of The Arkansas Financial Group Inc. in Little Rock. "[Home-equity loans are] great. They're marvelous. They're so good, they can get you into big trouble."

Big trouble? Oh yeah, that whole part about losing your house if you can't pay back the money. Fall behind on your credit cards, and you torpedo your credit rating; fall behind on your home-equity loan, and you might have to call the movers. Especially for people who use home equity to consolidate debts, the lure of easy money can be a siren song. A year or two down the road, the credit card debt might have crept back, but by then, the house is on the line, too.

Many borrowers set a trap for themselves by extending almost to the breaking point to buy homes and then borrowing against whatever equity they do have. As long as interest rates remain low, the home-equity loan payments are manageable. But if and when rates start to rise--and they will rise sooner rather than later--the variable rates on those loans will trend higher as well.

"When you're paying an interest rate, whether it's increasing or not, the fact that [it's] deductible does make it more attractive than other forms of debt," Adkins says. "The key is, don't use home equity to pay for vacations and stuff that's really just consumption." Or, if you already have, Adkins says, "get a handle on it now, before rates turn around on you."

# posted by Medical Information : 2:45 AM  0 Comments

I read with significant interest "Fraud Resistant P-cards," by Donald Holde-graver (April 2005). My interest was piqued because I am an alumnus and former faculty member of Holdegraver's employer, the University of Nebraska-Lincoln. I am also significantly concerned about the use of purchasing cards (P-cards) particularly here at Weber State University, where I serve as accounting department chair.

Holdegraver's article suggests many processes and procedures to protect the university from fraudulent use of P-cards. The weakness found in all of his suggestions is that they all have costs in terms of actual out-of-pocket dollars or use of time.

Holdegraver places the ultimate responsibility for P-card usage on the supervisors. In an academic setting, those supervisors are department chairs. That means that the supervisor in the art department is an artist, the supervisor in the English department is a poet, and in the history department, the supervisor is a historian. Only in the accounting department will the supervisor be an accountant. I know of several excellent department chairs here at Weber State who rarely review their budgets. They probably do not even review their own credit card statements when they receive them each month. Asking them to be the ultimate accounting control would probably be as disastrous as putting me in charge of some artistic event or production. Making most department chairs ultimately responsible for controlling inappropriate P-card use is asking most of them to do something they are totally incapable of doing.

The American Institute of Certified Public Accountants tells us that the purpose of internal control is to protect assets and provide reliable accounting data. I would like to suggest an additional purpose--to keep honest people honest. We should never implement any system that enables people who are basically honest to ever do anything that is dishonest. That is exactly what the system that exists at Weber State, and apparently at the University of Nebraska, does. It allows people to make honest mistakes as well as perpetrate intentionally fraudulent actions.

# posted by Medical Information : 3:17 AM  0 Comments

New credit card and payment solutions are helping Latin American corporations gain a competitive edge in the marketplace, while offering significant advantages to consumers. These rapidly evolving credit, debit, travel, payment and purchasing card programs are helping Latin American companies to speed their payment flows, manage their expenses, reduce fraud, and operate more efficiently. Perhaps most importantly, these innovative card programs allow organizations to deliver valuable personal services and reward programs that build and sustain long-term customer loyalty.

From the consumer's point of view, new applications of current card programs technology, as well as the advent of' smart cards (bank cards with embedded chips), can address key issues from account management to secure authentication of personal financial transactions. The advancement of card technology, combined with well-implemented service programs,' promises to transform the nature of financial services provided to businesses and individuals throughout the region.

Exclusive Benefits For Exclusive Customers

By llse Pizzolante, Vice President of Consumer Credit Products, Visa International, Latin America and Caribbean Region (LAC).

In the world of credit cards, there is a world of choices--from starter cards with minimum credit lines to gold cards for loyal costumers. But for the affluent consumer, a superior choice of card exists.

Visa Infinite and Visa Platinum are two cards designed for the elite business executive and traveler. Their aim: To satisfy any need, anytime, anywhere.

Accepted at more than 22 million locations, Visa Infinite and Visa Platinum offer unique services for business and personal travel, Internet purchases, customer service, shopping and value. Visa is the preferred card among elite customers for day-to-day use, Internet purchases, customer service, shopping and value.

Need a dinner reservation for the hottest Parisian restaurant at the drop of a hat? A 24-hour concierge service will oblige, and your seat is guaranteed. Have a medical emergency? The Visa insurance program will take care of you, anywhere. Tired after that 10-hour flight from Buenos Aires? Your card allows room upgrades in the world's leading hotels. Still have an eight-hour flight to go? Use the cards to access VIP waiting areas at airports and terminals.

# posted by Medical Information : 3:16 AM  0 Comments

Looking out for your own interests

As you gear up for the bustling holiday season, you'll be shopping for the latest toys for the kids, unique gifts for family members and friends, the perfect dress for the office Christmas party, and, no doubt, buying tickets to travel out of town. In nearly all of these instances, you will be using a Visa, MasterCard, American Express, or Discover Card to make purchases.

After all, using your credit or charge card is actually the best option for holiday shopping in terms of security and tracing. You'll have the security of shopping safely and knowing that if your card is stolen, it can be canceled immediately. Your bank can issue you a new credit card and have it delivered the next business day. You should limit your credit card use to major purchases such as televisions, stereos, and jewelry, so that if you need to make a return without a receipt, the credit card data can be used as a tracking mechanism. Also, if the product is flawed, it can be disputed through your credit card company. With online shopping, an increasingly popular medium, your credit card is required as well. You cannot use a check, and C.O.D. is rarely offered.

When using a credit card, it's important to do so wisely and sensibly. Credit card companies are in the business of making money. It's important that you look out for your own personal interests. "We get so many calls from consumers who complain about the interest rates that credit card companies charge and from people who want to know their rights as credit card holders," says Jennifer Davis Carey, director of consumer affairs and business regulation for the state of Massachusetts.

To address these matters, Massachusetts published a consumer guide entitled 12 Credit Card Secrets Banks Don't Want You to Know to educate the public on how to select the best credit card and to help them understand the billing process of most companies.

Many companies engage in interest backdating, if you don't pay off your monthly balance in full. This practice involves charging interest from the date of purchase, although days elapse before they actually pay the merchant on your behalf. Also, credit card issuers have two-cycle billing--a means of calculating interest--which results in customers paying two months' worth of interest if they did not pay off the first month's balance in full. Two-cycle billing only occurs when consumers have changed from paying in full to carrying a balance each month.

# posted by Medical Information : 3:15 AM  0 Comments

Take these steps to protect your profits.

As the technology barriers to e-commerce fall, more and more small businesses are looking to take their sales online, eager to tap into a pool of online consumers that IDS projects will reach 128 million by 2002. E-commerce application and hosting service providers make it relatively simple and inexpensive for Web-enabled businesses to turn their home pages into full-fledged online stores, opening up the e-commerce arena to even the smallest businesses. However, there's a hidden danger that many newly minted e-business owners fail to take into consideration: the problem of credit card fraud.

While conventional wisdom holds that merchant fraud is the main form of credit card abuse, the reality in the e-commerce world is that the merchants are far more frequently the ones defrauded, whether through credit card theft or so-called "friendly fraud," in which customers dispute the charges but nevertheless keep the merchandise. A survey conducted by the Gartner Group this year of major online retailers has shown an average of 2.64 percent of Internet transactions are charged back, compared with 1.24 percent among bricks-and-mortar retailers. Gartner research also shows that credit card fraud is at least 10 times as prevalent online as in the physical world, accounting for 1 percent of all e-commerce transactions.

The issue may not even occur to many business owners as a potential problem. After all, in the world of the physical store-front, credit card companies typically shoulder the risk in the case of fraudulent or disputed charges. So long as the merchant can provide a receipt with a customer signature, that merchant cannot be held responsible for charges that have been approved by the card issuer.

# posted by Medical Information : 4:42 AM  0 Comments

Question: What's the best cash-back credit card?

Answer: Cash rewards cards are the cards of choice among credit customers surveyed by Synergistics Research Corp. And no wonder. Even a $15 rebate can pay for a movie ticket and a box of popcorn.

To determine which cards are most rewarding, Kiplinger's assumed that you spend $35 a week on gas, $100 a week on groceries and $1,000 a month on everything else, including $100 at the drugstore and $100 to watch movies, at home or at the theater.

Our winner: Chase Rewards Plus Visa (www.chase.com), which gives a 5 percent rebate on all the basics -- gas, groceries and drugstore items -- plus 1 percent on other purchases. There's no fee, and the interest rate can be as low as 13.24 percent. Total annual rebate in our scenario: $493. You can choose cash, gift certificates or airline tickets.

In second place is the Citi Dividend Platinum Select card (www.citibank.com). It also gives a 5 percent rebate on purchases of gas, groceries and drugstore items, plus 1 percent on everything else. But it has an annual rebate cap of $300. There's no fee for the card, which charges 17.49 percent interest.

Third-place finisher National City Everyday Rewards Elite Visa (www.nationalcity.com) rebates 4 percent on gas, 3 percent on movies and video rentals and 2 percent for food-related spending at grocery stores and restaurants. Everything else earns a 1 percent reward -- but only after you spend $10,000. Below that, you earn a measly 0.25 percent.

In our scenario, you'd pocket $281. Prime borrowers qualify for a rate of 11.74 percent.

Question: How do I get out of credit card debt?

Answer: Negotiate lower rates with your bank, says Scott Bilker, founder of DebtSmart.com and author of "Talk Your Way Out of Credit Card Debt." Let the issuer know that you've been using its credit card or that you will start using it if you get a better deal. Read the customer service representative a few of the low-rate offers you've received in the mail to illustrate your options.

Ask the issuer to waive late and over-limit fees. Banks always waive fees the first time you're delinquent. Even if the fee was charged months before, ask to have it credited to your account.

Get rid of annual fees. If an issuer won't waive its fee, ask to be switched to another of the bank's cards that doesn't charge one.

# posted by Medical Information : 4:40 AM  0 Comments

Available with starter kits for Windows CE and Linux, X-board is equipped with 400 or 600 MHz Intel[R] 80219 PCI processor with 128 MB DRAM and 32 MB Flash. It combines Intel[R] XScale[R] core with integrated PCI bus bridge and smart peripheral interfaces on surface area of 2.6 x 1.9 in. Module includes AC97 Audio CODEC, 16 MB graphics memory, CRT and LCD TFT display support with 1,280 x 1,024 pixel resolution, and all interfaces needed for mobile multimedia devices.

Multimedia PC on Only 32.83 cm[sup.2] (5.09 sq in)

Deggendorf, September 27, 2005 - With the X-board, Kontron Embedded Modules introduces another Computer-On-Module with a sub-credit card-sized format (67 x 49 mm, or 2.6" x 1.9"). This COM bundles all the commonly used interfaces on the world's smallest standard footprint for COMs and uses the highly integrated XScale[R]-based Intel[R] 80219 processor. Prototypes with starter kits for Windows CE or Linux are now available to facilitate and accelerate application development and testing on target platforms, saving both time and money. The highly integrated X-board boasts a record number of features for this form factor.

The Kontron X-board COM with an Intel[R] 80219 General Purpose PCI processor is available with either 400 MHz or 600 MHz processing power and carries up to 128 MB of on-board DRAM and up to 32 MB of on-board Flash. It combines the Intel[R] XScale[R] core with an integrated PCI bus bridge and smart peripheral interfaces on a surface area only 67 x 49 mm (2.6" x 1.9"). In addition, the new COM features the AC97 Audio CODEC, 16 MB of on-board graphics memory, CRT and LCD TFT display support providing outstanding graphics and video capabilities with resolutions up to 1280 x 1024 pixels and all of the interfaces needed for mobile multimedia devices. 10/100 Base-T Ethernet, USB 2.0 and the other standard interfaces on the X-board form factor complete the feature set.

# posted by Medical Information : 4:39 AM  0 Comments

ANNE HARRISON KNOWS WHAT IT'S LIKE TO be caught in a credit crunch. "I hated to hear the phone ring," says Harrison, 31, who juggles the roles of wife. mother, salesperson and student in Roswell, Georgia. "I was afraid it was one of my creditors with a demand for money. In the meantime, my bills were sitting in the drawer unpaid. I knew that if I paid the rent, I wouldn't have enough for food."

How did Harrison wind up in this situation? "My husband and I wanted a change," she recalls. "We had been living in New York [in 1994], where everything is so expensive, and we'd heard wonderful things about Atlanta. Unfortunately, after we moved, my husband, a former hospital manager, couldn't get a full-time job for several months, and my own income declined because my commissions from selling computers were down. We had a second child and the next thing I knew, we were $20,000 in debt."

The Harrisons sought help--and found it. From late 1995 to early 1998, they knocked down their debt load from $20,000 to $7,000. Anne's new job allowed her to make more money, which she funneled into larger credit card payments. She also stopped using her credit cards completely. "By the end of the year, we'll be debt-free," Anne says. "In addition, we qualified for a mortgage and are now living in a lovely four-bedroom house in a desirable area."

IT'S SERIOUS BUSINESS

Yes, it is possible to dig your way out of debt if you know how to wield the shovel. Certainly, the Harrisons are far from unique. Millions of people rely on credit to help them buy homes, cars, vacations and more. Inevitably, even the most conscientious can encounter job losses, medical emergencies and other unforeseen circumstances that make repayment difficult. Late payments or defaults will be noted on credit reports that follow you around for years, squeezing your standard of living; so, it's imperative to convince the world that you're a dependable, debt-paying customer.

Moreover, a negative credit report can do more than impair your ability to get a loan or a line of credit--it can cost you your job. Under federal law, with your permission, current and potential employers can see your credit report if they're considering hiring or promoting you. Naturally, an employer who sees that you're not paying your bills is not likely to be favorably impressed.

# posted by Medical Information : 3:35 AM  0 Comments

MEMPHIS (Reuters)—A top executive with Mastercard Inc. said Monday the company, the world's No. 2 credit-card association, expected to have 4 million so-called "pay pass" cards in circulation by year's end.

Speaking at an industry conference here, Ruth Ann Marshall, Americas president for MasterCard, said that Citibank, HSBC and Key Bank had all begun offering the cards, which are equipped with a radio-frequency chip that allows customers to pay for purchases by simply waving their cards at readers posted near cash registers or gas pumps.

Marshall said the pay-pass cards were "easier to use than cash" and were one of the products MasterCard was counting on to increase revenue and profits as it faces a variety of challenges in the marketplace, including new rivals and regulatory scrutiny.

"It's just one of the ... breakthroughs in technology that we're pursuing in order to increase convenience and boost usage," Marshall said.

MasterCard, owned by more than 1,000 banks, formally revealed its plans last week to go public early next year in an initial public offering.

In addition, to raising money to bolster its balance sheet, MasterCard said it believed the IPO would help quell criticism from merchants and others, who charge that its current structure—which foes characterize as a cartel of competing banks setting transaction fees in concert—represents a violation of U.S. antitrust laws.

Marshall said MasterCard was also working with U.S. cellular phone providers to turn mobile phones into "a high-powered payment and sales device." The program was still in the "pre-launch stage" here in the United States, she said, but added its success overseas suggested it would appeal to "young, active consumers."

She acknowledged that the Internet and other technologies were creating "substantial ripples in the personal finance industry."

"Take PayPal, for example," she said. "Ten years ago entering the payment industry from a standing start was nearly impossible. But by providing eBay customers with a convenient way to move money PayPal quickly became a player in the payments industry and an acquisition target for eBay."

As a result, she said it was conceivable that others would eventually become players in the industry, including Google , which has signaled it may be interested in getting into payments.

# posted by Medical Information : 3:35 AM  0 Comments

For big spenders, some perks may be worth the annual fee.

Platinum credit cards were supposed to signify prestige, but they quickly became about as common as copper pennies. So to lure upscale consumers, Visa and MasterCard have created "premier" cards with extra perks for heavy-duty travelers and shoppers.

The chief attraction of Visa Signature and World MasterCard is the opportunity to earn frequent-flier miles that are good on any airline, with no blackout periods or expiration dates. But you have to use your card a lot to earn free travel because the miles can't be combined with those earned in airline programs.

One nice extra is a 24-hour concierge service you can use to snag theater tickets, arrange an exotic outing or locate a hard-to-find gift. Other perks are the kind you'll probably never use: travel insurance, extended warranties, and so on.

For those extras, you generally won't pay any more than you do for an airline-affiliated credit card that earns frequent-flier miles. Associates National Bank, Bank of America, First USA, Household Bank and Travelers issue either the Signature or World card. We found the best terms on First USA's World MasterCard, with a $49 annual fee and a 15.99% interest rate after six months at 5.9%. Others typically charge annual fees of up to $85.

Of course, the original "prestige card" is American Express's platinum card--by far the most expensive at $300 a year. But some frequent travelers may not find that a lot to pay for perks that include free access to Northwest and Continental airport lounges, a 24-hour concierge service, preferred seats at concerts and sporting events, and free membership in Amex's Membership Rewards frequent-flier program, which costs green-card members an extra $25.

And, of course, there's American Express's famous "travel emergency assistance." If a doctor certifies that it is medically necessary, American Express will evacuate you from a Himalayan mountaintop or a cruise ship, transport you to a medical facility, and pay all the nonmedical costs.

But Amex is also reaching downward with a rebate card that may be the best deal of all. The no-fee platinum Cash Back card is for big spenders: The cash rebate is minimal on the first $5,000 in purchases each year, but after that your rebate is 1.5% on balances you pay off right away or 2% on balances you revolve. The interest rate, however, is a hefty 18.24% after six months at 5.9%.

# posted by Medical Information : 3:34 AM  0 Comments