Credit Cards Online Information

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There's something inherently appealing about a really functional wallet, especially if you carry more than just money.

Of course, you want a place for your credit cards and maybe your driver's license, but the Uptown Clutch goes one better. This wallet from Pacific Design has an iPod Nano compartment that fits the 1GB, 2GB and 4GB models and is accessible from the inside or outside of the clutch. It also has four credit card slots, a mesh ear bud- or cord-storage pouch, a removable wrist strap -- and, oh yeah, a billfold area.

JENNIFER, THE ASSISTANT Jennifer treasurer at ABC Corp. in New Orleans, opened an e-mail from a former colleague who no longer worked for the organization. The e-mail read: "Hi Jennifer, there should be a refund of $716 on my old corporate Visa card from the IP Conference. I paid for, but did not attend, the conference and did not turn in the charge to ABC for reimbursement. Can you have Visa issue a refund check to me? Thanks very much for your help."

The e-mail was from Larry, a former ABC executive who had been Jennifer's boss at one time. The message seemed innocuous enough. Larry had legitimately charged a business conference to his corporate credit card, but he had canceled his registration because he left the company. Therefore, he was due a refund.

It would have been very easy for Jennifer to trust her former boss and get him the refund. Instead, because something didn't seem quite right, she chose to check on whether ABC had already reimbursed Larry for the conference.

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.

"It is important to know about interest backdating and two-cycle billing. If this occurs, find another credit card issuer or make sure you pay your bill in full by the due date," says Carey.

"Ask your creditor to reduce your interest rate," says Mel Stephens, a certified counselor for Consumer Credit Counseling Service (CCCS).

To find credit cards that offer the best interest rates for you, visit the Global Payment Card Information Network Website at www.cardweb.com. You'll find information on the lowest rates offered by banks, cards that have no fee, and secured credit cards.

"Consider what you are looking for in a credit card, such as the annual fee, grace period, interest rates, and credit line," says Carey. "Then, do your research. It is important to find out the terms of the initial agreement. Be sure to read your monthly statements and flyers that are included because most contracts state the terms are subject to change. If they change the grace period or interest rate, you may rack up unexpected late fees."

When you need cash, use your credit card as a last resort. There are double fees on cash advances. Most credit cards enforce both a transaction fee and finance charges.

"You are being charged two fees for one transaction," says Carey. "Don't use cash advances for casual purposes. It is not good budgeting."

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.

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.

Unlike other cards, Visa Infinie chip-based technology enables it to be used as a debit card at points of sale and ATMs worldwide. And the rewards programs offered with both cards allow users to redeem each dollar spent for airline travel, vacation packages, car rental or gifts.

The Visa Infinite card, the most elite card, is for the high-maintenance client. It provides a line of credit of over $20,000, travel accident insurance coverage of $1 million, emergency medical insurance coverage of $25,000 while traveling, emergency card replacement and cash advance within 24 hours.

Cardholders are entitled to opportunities made possible through Visa's partnerships with leading hotels, spas, resorts and luxury service providers worldwide. For example: Suite upgrades at properties such as Ritz Carlton, Beaches Resorts, Warwick Hotels, Groupe Lucien Barriere and Banyan Tree, among others; special promotions for rentals of private yachts or airplanes through Yachtstore, New World Aviation and TAG Aviation; membership in the Saks 5th Avenue 5th Avenue Club--which includes a fashion consultant and private rooms, and VIP status at Galerie Laffayette, with priority seating at weekly fashion shows and a personal shopper.

Visa Platinum, in addition, offers $500,000 travel accident insurance, emergency medical insurance and rental car insurance. Card holders enjoy upgrades, late check-out and VIP status at a wide array of properties, including Renaissance Hotels, Resorts and Suites and Sofitel Hotels, as well as special packages with retailers and travel planners.

To get an idea of the experience, picture this: A suite (upgraded), at an exclusive, 100-room resort in the Caribbean. A call to a personalized concierge service leads to a Personal Travel Advisor who makes a reservation, sends a gift to a business partner, finalizes a travel itinerary and purchases tickets. You don't have to leave early; your cards allow you to check out late afternoon.

But you can't compare rates until after you've filled out the application.

Can the same online auction techniques that work for buying Beanie Babies and baseball cards work for the largest financial transaction most people ever make? Maybe--but for now, don't take the "name your price" pitches for online mortgages too literally.

At least two Internet sites promise to put your mortgage application on the block to get you the lowest interest rate. MortgageAuction.com guarantees the lowest rate and backs it up: If you find a better deal elsewhere, MortgageAuction.com promises to pay $250 toward your closing costs. Unfortunately, you have to complete a lengthy application to get rate quotes.

The site puts your application up for auction, along with your credit scores, for 24 hours. Currently, up to 50 lenders--depending on how many are licensed to do business in your state--can bid on your loan.

MortgageAuction.com reviews the bids and proclaims the one with the lowest annual percentage rate (APR) the winner. Borrower and lender are each notified by e-mail. You won't have any credit-application fees charged to your credit card unless you agree to proceed.

APR, however, is not as useful a gauge for mortgages as it is for other types of credit, mostly because people tend not to keep the loan for the full 30 years on which the APR, which includes points, is figured. If you plan to keep the loan only a couple of years, a low- or no-points loan (with a higher APR than a lower-rate loan with points) could be the cheaper deal.

You take more risk with Priceline.com. The site asks you to name your interest rate and terms. In practice, however, you're more likely to get a counteroffer from one of up to four lenders who review your bid (and your credit scores). You can choose whether to accept the counteroffer, but the rate is not guaranteed until you lock in later.

A lender who accepts your offer through Priceline.com may charge a $200 application fee to your credit card. You won't be told whether it's refundable until after you are charged. Typically, the tee will be credited toward closing costs if you choose the loan.

What if you bid too high? Mitchell York, president of LendingTree Inc., the company that handles mortgage auctions for Priceline.com, says that borrowers who bid too high have actually been countered with lower deals. "If they qualify for 7%, they're going to get 7%," he says.

GIVE THEM A PASS. One of the biggest drawbacks of the online-mortgage sites is that you have to take them at their word that they can find the lowest rate--at least until after you've applied and allowed them to pull your credit report. Repeated credit inquiries can damage your credit score, although inquiries for mortgages and car loans in the past 30 days don't count against your score. And inquiries clustered within a 14day period count as only one inquiry.

Passwords are the most critical safeguard for your online identity, but you end up juggling dozens or compromising your security by using the same string for everything from your favorite news outlet to your online banking site. Or worse, faced with the fear of forgetting a critical password, you end posting the keys to your online well-being all over your monitor on sticky notes—not a secure password management strategy.

Let Password Profiler strip the little stickies off. Our latest PC Magazine premium utility will manage your passwords efficiently, easily, and securely, safely storing your log-ons, passwords, pin numbers, and other sensitive information in an encrypted file, and even letting you access and log on to your favorite Web sites with a single click. The utility can even fill in Web forms with any data you choose, including address and credit card information, if you desire.

Once you've downloaded Password Profiler from the PC Magazine Utility Library to a folder on your Windows 2000 or XP machine, unzip the file PasswordProSetup.zip and double-click on PasswordProfilerSetup.exe.

When you first launch Password Profiler, it will prompt you to create your Master Key—the password that, from this point on, will allow you access to the entire utility and all the information stored within it, including other passwords. Don't lose your Master Key! Without it, you cannot access information in the utility.

Note that we did not build in a method for you to regain your Master Key should you forget it, because such a capability would create a security hole an interloper could exploit. We strongly recommend that, when creating your Master Key, you use the helpful Hint option to enter a word or phrase to jog your memory should you forget your Master Key.

When setting up the utility, security junkies can pick which Crypto Service Provider and Encryption algorithm to use. Password Profiler lets you chose from the native cryptographic service libraries built into Windows (which you can read about in Microsoft's MSDN Library). For most users, though, staying with the utility's default selections is the best course.

Manage Passwords and Automate Log-On Sequences

Once you've set your Master Key, the Create Your Master Key window will disappear, replaced by the UserID/Password Manager window, where you can create, edit, and delete the profiles or sequences you use to log on to sites (or for other purposes). A profile can include any information—such as your user name, password and pin, the log-on URL, and more—required for a particular purpose. A profile may correspond to a specific Web site, but it doesn't have to. You can keep any personal information in Password Profiler that you wish. Examples we use in this article, however, will show how to create profiles for use with Web sites.

To add a Web site profile, click on the New button. The Add New Web Site Profile dialog will pop up. This is where you enter any information that the corresponding Web site requires for you to log on. You can also categorize the site profiles using the Category pull-down menu. To enter a new category, just type in the Category: text box. You do not need to hit enter. Completing any of the other fields and hitting OK records the new category automatically.

Filling Out a Web Site Profile

Site Name can be anything you wish; it lets you identify the site profile once you've stored it in the utility. URL should be the address of the log-on page for the Web site you're profiling. Sometimes the URL of the homepage will work, but the typical sign-in page URL is usually different. In the case of PC Magazine, for example, the log-on page URL isn't http://www.pcmag.com, but http://www.pcmag.com/sign_up/0,3017,,00.asp?success_page=/default/0,1007,,00.asp. The best strategy for obtaining the correct address is to navigate to the sign-in page of the site, copy the URL from the browser, and paste it into Password Profiler.

Enter your Web site user name in the User ID field, and of course, your password into the Password field. Reenter your password into the Repeat Password text box to insure that you haven't typed incorrectly, since the actual characters don't display. The Pin # field gives you a place to enter a personal identification number for Web sites that require one, and the Misc text box lets you add one other piece of unspecified data a site may demand. In the Comments area, you can make any notes you may wish to keep.

One of the main arguments against the direct shipping of wine to consumers, particularly via online sales, is that it provides an easy way for minors to get their hands on forbidden beverages. When faced with the retort that few 15-year-olds have their own credit cards with which to make Internet purchases, the standard response from wholesalers and concerned citizens is that it's easy enough to swipe mom's Visa card when she's not looking.

But what if there were a way to instantly verify a wine buyer's identity online, at the time of purchase--even if the buyer in question had gotten his hands on an adult's credit card? Would wholesalers declare the world of Internet wine buying safe for minors and encourage states to open the direct-shipping floodgates? We'll soon find out, if a new online age verification system catches on with U.S. wineries.I believe IDlive's technology significantly challenges the posture taken by the wholesalers," says IDology group VP and chief marketing officer Raye Croghan. "We have reached out in the past, to no avail. If we can disarm them, perhaps the real issue can be addressed and dealt with on a fair playing field."

In addition to forcing wholesalers and distributors to acknowledge their true agendas, Croghan says, IDlive helps wineries steer clear of government sting operations. "The system has highly effective and creative sting prevention capabilities," she says. Even if a winery is caught in a sting, "Our winery clients have the protection of exercising their right to what's called due diligence defense, recognized in all states."

Many people believe that shipping companies are liable for wine packages that are delivered into the hands of minors--particularly if the delivery person fails to obtain the required adult signature. However, according to Kristin Krause, public relations specialist for regulatory and government affairs in FedEx's Washington D.C. office, that is not the case. "Our terms and conditions of carriage place the responsibility for ensuring compliance with applicable laws and regulations on the person or company tendering the shipment to us," she confirms.

How It Works

IDlive allows wineries and online retailers to create a customized Internet verification system that taps into public records. The system sifts through and sorts the data to verify age and identity, then provides a confirmation (or denial) to the company that is taking the order. (Because the consumer's detailed personal information is not divulged in this process, the data is protected against identity theft.)

To prevent kids from using a parent's credit card to buy wine, the system can be set up to enable a "knowledge-based verification"--meaning, that it searches pubic records for information about the cardholder, and presents questions that only that person should be able to answer. (For example: "What make/model car were you associated with in 1979?")

IDlive can be set up to run automatically or manually. In a manual system, the winery representative or online retailer enters the name, address and year of birth of the buyer, then clicks a button to determine if the person is of age. If IDlive is unable to verify a person's information, or it is determined that the buyer is a minor, the system can respond in various ways, according to each individual winery's preference. Some wineries list an 800-number that the customer must call to verify purchase, while others simply send a message to the user, declining the order.

"We try to re-create the entire retail buying experience in an online environment," Croghan says, from selecting the product to bringing it to the counter to having the cashier check the ID. "The difference is that we know if an ID is fake, while retailers don't always know."

IDlive In Action

After the Supreme Court's recent ruling on direct shipping, IDology extended an offer of 500 free age verification checks and free enrollment for wineries that registered by May 31. A large wine conglomerate and several small wineries took advantage of the offer, and have since signed contracts to continue the service.

IXL, New York, has launched a site to support Sony's new Sony Card credit card (Visa/MasterCard), which allows customers to collect points redeemable for Sony merchandise with every purchase.

Jeffrey Dorn, senior vice president of the Sony Card business division in Park Ridge, N.J., said the card is geared toward men and women 25 to 49 who earn incomes of at least $50,000 and "have a high enthusiasm for both electronics and entertainment."

The site, located at www.sony.com/sonycard, provides information about the card, which is co-branded with Citibank, as well as an online card application and commerce area for Sony products. The site's most interesting feature may be its "story log" which uses online storytelling to tell visitors about the bonuses of the card. The story log includes a narrative appealing to a young, professional demographic, or the Ally McBeal and Friends set, said Ian Kerner, director of iXL's strategic solutions group. Despite using TV shows to describe the card's demographic, Kerner noted that the Internet is central to its marketing plan. "I think it's clear that the Sony Card is really embracing the medium."

In the current story, a man leaves his cellular phone in a taxi, and a female tourist snaps some photos of the cab's license plate. As the duo frolick through New York tracking down the phone, users can click on Sony products placed throughout the couple's travels for purchase information using the card. Items also can be redeemed with Sony points.

Jack Templin, lead strategist of iXL's strategic solutions group, said the site eventually will include a suite of tools that can guide users with Sony Cards through search and recommendation sections. "This is a card that's both a traditional credit card and also very intelligent about navigating cyberspace and c-commerce," he said.

Sony is also running a direct response campaign in traditional media created by Young & Rubicam Direct, New York. The online campaign, Dorn added, is integral to the marketing. "We hope the Internet is going to be a very, very rich and active channel for us," he said.

Links to the card site and its application will be on Sony's other sites, including those for its music, Playstation gaming system and other merchandise. "It's bringing together all of the Sony entities,"