Credit Cards Online Information

Create and Sell Information - The Perfect Home Business

2008-03-18T04:34:00.000-07:00

Want to make a great income from your own home based business? You can. Let's look at some information products you can create and sell online.

Here are three types of information products. All are easy to create, and since you offer them via digital delivery, they're easy to sell too.

1. Ebooks, e-courses, and classes - teach online

Just in the past couple of weeks, several friends have purchased online courses. They include an MP3 course to learn French, a course on learning Mac OS X Leopard, a series of classes in digital photography, and a drawing class.

There's an immense range of ebooks, courses and classes online, for every conceivable interest. If you have knowledge and skill, you can teach what you know.

Start by making a list of topics you could teach, and then do some online research to see whether others are offering courses in these areas. If they are, that's great - it means that people are buying this information, and you'll be able to sell your information product too.

2. Audio products - MP3s and podcasts sell

Audio products are great sellers online, because you can listen to an MP3 when you're driving and exercising, turning "wasted" time into productive time.

You can offer audio products in many areas. Some popular audio products aren't teaching products, they're stories and humor - of course, you can combine both information and entertainment in a single product. This would be a hot seller.

3. Video products - visual aids to learning

As technology has improved, videos have become enormously popular. Although many videos are free, you can create and sell your own commercial audio products. Teach or entertain on your video product - the choice is up to you.

Information products are fun to create and to sell, and they make the perfect home business. Why not start sharing your knowledge in information products?

The Truth about Online Credit Card Approval

2008-03-17T03:03:00.000-07:00

What happens next is that consumers have the propensity to get into information overload, and so, they do not have any time to meticulously scrutinize each application that they receive.

Moreover, because of having too many credit card application forms thriving on the mailboxes every single day, they find it hard to make clear choices. In fact, according to some surveys, 75% of credit card users admit that they do not read the fine print at all.

That is why when the information technology had taken its fair share in the industry, things were definitely better. This is because the credit card industry, along with the consumers, is so overwhelmed with the fact that everything can come on an instant using the Internet.

For this reason, the online credit approval programs of most credit card companies seem to be the most practical technique that was ever created. Many people find it feasible to use online credit card approvals than to exert extra effort to personally apply for credit, only to find out that they will be rejected in the end.

The Concept behind the Screen

Online credit approvals works the same way as the typical application forms. The only difference is that these things are not hard copies.

However, one of the best things about this program is that it lets the consumers have the time to analyze the credit card offers and see if it will work for them.

Basically, there is nothing special about online credit card approval. The interested person just have to supply the necessary information on the online application form, wait for a few minutes (usually within 60 seconds), and, when approved, the consumer just have to wait for his or her card.

But the best thing about it is that the bank can instantly check on a particular person’s identity and credit score. If ever the score meets the requirement, instant approval will be provided and the credit card will be processed as soon as possible.

So for those who wish to know the advantages of having an online credit card approval, here is a list of some possible benefits that they can get from this program:

1. No messy applications

With online credit card approval, people can almost be sure of a safe and smooth transaction. There are no too many papers to trash or too many brochures to pile. Everything is done in just a few minutes and the status is instantly known if the application was approved or not.

2. Instant verification and comparison

There is no better way to get the best deal from a credit card but to have it compared to the others. In this way, the interested person can see the difference among credit cards, which gives him the ability to identify the best credit card deal.

3. Numerous benefits from the issuing bank

With this program, consumers can easily tap the available exclusive benefits provided for online applicants. There are instances wherein the banks will instantly give their new credit card users some amount from the credit line that they have provided.

These are just a few of the many benefits that consumers can get with online credit card approval. It is the best thing the credit card industry could ever have.

Indeed, with online credit card approval, there is nothing in the world that money would not have a value for it. Online credit card approval simply makes great things possible

Virtual Credit Cards For Safer Online Shopping

2008-03-15T01:46:00.000-07:00

A virtual credit card offers you the option of shopping online with a disposable credit card number that are single-use credit card numbers, which expire within one or two months.

The security benefit of using a virtual credit card for online shopping is your normal bank account is not affected if an online scam artist happens to get your account number.

There's no value to hackers because you use a different, random card number every time you shop online. A virtual credit card number is only good on the Web site where you made your purchase.

With identity theft and email phising scams rising at an alarming level it's a good way to keep your sensitive information private. Even if a scammer does somehow acquire your virtual credit card number, the disposable credit card number expires quickly so it's not an ideal target for them.

The major credit card companies all offer prepaid virtual credit cards and the amount is limited to how much you apply to the card. You are protected just like a regular credit card if they are lost or stolen.

MasterCard calls them MasterCard gift cards and Visa calls them virtual Visa gift cards. You can use them anywhere MasterCard and Visa are accepted.

There are some instances when paying with a virtual credit card won't work. You can't pick up theater tickets; confirm airline, hotel or rental car reservations with a virtual credit card. These credit card numbers don't exist off the Web so they don't work for these things.

But if you are using the disposable credit card numbers for buying products online the security benefits are well worth it. If you are looking for safer online shopping consider a virtual credit card.

Credit Cards Online Information

2008-03-13T04:15:00.000-07:00

A virtual credit card offers you the option of shopping online with a disposable credit card number that are single-use credit card numbers, which expire within one or two months.

The security benefit of using a virtual credit card for online shopping is your normal bank account is not affected if an online scam artist happens to get your account number.

There's no value to hackers because you use a different, random card number every time you shop online. A virtual credit card number is only good on the Web site where you made your purchase.

MasterCard calls them MasterCard gift cards and Visa calls them virtual Visa gift cards. You can use them anywhere MasterCard and Visa are accepted.

Accept Credit Cards Online Without a Merchant Account

2008-03-11T03:38:00.001-07:00

Third party payment processors who will accept credit card payments on your behalf exist in growing numbers. These third party processors will take a percentage of your sale for their troubles, then pass on the rest to you. Rates vary greatly from one payment provider to another so doing your homework is important in order to get the right fit for you. Some payment providers will accept all kinds of goods and services while others specialize in only digital products, or hard goods, or services.

General Purpose Payment Providers include:

Paypal – Owned by Ebay, Paypal offers one of the lowest rates of any third party payment processor. At the time of this writing, their standard rates were 2.9% plus $0.30 US per transaction. Paypal offers excellent support and great documentation to get you up and running in no time at all. www.paypal.com

2checkout.com – Has a $49 US one time setup fee. Their rates at the time of this writing were $0.45 US plus 5.5% transaction fee. Discount rates are middle of the pack, service is very good and through them, you can accept most major credit cards. www.2checkout.com

Digital Information Payment Providers include:

Clickbank – You pay a one time $49.95 US activation fee. They then pay you the retail price of your product minus $1 and a 7.5% fee. Clickbank also has an easy to use affiliate program so that you can make money when others sell your product. www.clickbank.com

Digibuy – An electronic commerce solution for publishers of software, shareware, electronic art, information, and data. They charge a rate of 13.9% per transaction with a $3 US minimum order. They provide you with many features including brandable order forms, invoicing and test orders. www.digibuy.com

All but Clickbank give you the ability to have brandable shopping carts. This allows you to customize your order forms so that the customer doesn't feel like they are leaving your site thereby building trust. All of the third party payment processors above provide you with help to get started.

Accepting credit cards online doesn't have to cost you a lot of money. Most times it doesn't even have to include a credit check. Most of these services will even make regular deposits directly into your bank account for ultimate convenience.

When you need to accept credit cards quickly and inexpensively, one of the payment providers mentioned above just might fit the bill.

Credit Cards - Applying Online For A Credit Card

2008-03-11T03:37:00.001-07:00

How Is Your Credit?

If you know that your credit is good then you'll have no issues in getting approved for an online credit card. The credit cards with the best terms and rates will always go to the consumers with the best credit. So, it is always a good idea to know what your credit report says about you. Be sure to check your credit report at least twice a year. Another benefit of doing that is to be sure there are no errors on it.

If you haven't reviewed your credit report in some time, then it would be a good idea to do so before applying for a new credit card. Check it out for accuracy and fix anything that needs attention. Keep in mind that by applying for credit cards and getting turned down, will affect your FICO score. This can play a key role in getting future credit offers.

Applying Online

After you know whether or not your credit is good enough to be approved for a new credit card, you're ready to apply online for an immediate approval card. All credit card companies will ask you for the same basic information: name, address, phone, social security number, date of birth, employer, length of employment, gross income, etc.

Before you apply online for your new credit card, read the terms and conditions carefully. Check to make sure there are no surprise fees. All credit card companies will require you to submit your social security number. They do this so they can pull your credit report and determine whether or not you are creditworthy enough to approve you for a new card. One important note to check for; make sure that you are using a secure server when transmitting the information online. It should say SSL 128-bit encryption. This is standard procedure over the Internet today. It will make it virtually impossible for someone to steal your information.

When you enter in all your information and press "send", you will have an approval/disapproval decision in minutes. It will either show up right on computer screen, or be sent to your email address.

After you receive the news of your approval, you can expect your new credit card to arrive in the mail usually within 2 weeks. If you have been turned down for the credit card you applied for, you'll be sent a letter in the mail stating the reasons for your denial. Check over the reason for your denial. It may simply be a mistake, in which you can speak to someone at the credit card company and they can help you get it corrected.

Apply Online For Credit Cards And Make Things Easy On Yourself

2008-02-26T04:32:00.000-08:00

Do you walk to your mailbox each day and pull out a few credit card offers along with the rest of your mail? Well, if you're like most Americans, you get around 1-2 credit card offers in the mail each and every week. There is an answer to all this junk mail; apply online for credit cards.

Before the Internet came along, credit card companies, banks, and other financial institutions used direct mail as there main source of building their credit card business. Although it was somewhat costly, it worked for years. Nowadays, if a credit card company gets a 1% response on their mailings, it's considered a great campaign.

Well, times have changed for sure and more people are turning to the Internet for online credit card applications. Why?

It's so much more convenient for the consumer is reason number one. You can access the Internet 24 hours a day. You also have access to much more information at one time. With the Internet, you can search and find information on literally hundreds of different credit card offers. Instead of only looking at one credit card offer you got in the mail, you can view several offers at the same time.

For example, let's say you have recently been hit with overdue bills and your credit score isn't too good at this time. No problem, you can find offers for bad credit credit cards to choose from. And these offers can all be on one site to look over. It makes comparing and reviewing the various offers so much easier. It allows you to find the right card for your situation.

When you go to apply online for a credit card, the process is extremely simple and secure. All major credit card companies use the latest technology in security for their customers.

Another important point is that most companies have online credit card approval, which means you'll be able to have an approval quickly. In some cases you'll know within hours if you are approved or not. Compare this to mailing in a credit card offer, which can easily take weeks before knowing anything.

So, when you're looking for a new 0% APR credit card, a rewards or cash back card, or even a business credit card, save yourself a lot of time and effort by going to the Internet and apply online for a credit card.

Copyright 2006 - Terry Edwards. All Right Reserved Worldwide. Reprint Rights: You man reprint this article as long as you leave all of the links active and do not edit the article in any way.

Virtual Credit Cards For Safer Online Shopping

2008-02-26T04:25:00.000-08:00

If you are looking for safer online shopping you may want to consider a virtual credit card. It takes away a lot of the risk of personal information and credit card numbers falling into the hands of thieves.

A virtual credit card offers you the option of shopping online with a disposable credit card number that are single-use credit card numbers, which expire within one or two months.

The security benefit of using a virtual credit card for online shopping is your normal bank account is not affected if an online scam artist happens to get your account number.

There's no value to hackers because you use a different, random card number every time you shop online. A virtual credit card number is only good on the Web site where you made your purchase.

With identity theft and email phising scams rising at an alarming level it's a good way to keep your sensitive information private. Even if a scammer does somehow acquire your virtual credit card number, the disposable credit card number expires quickly so it's not an ideal target for them.

The major credit card companies all offer prepaid virtual credit cards and the amount is limited to how much you apply to the card. You are protected just like a regular credit card if they are lost or stolen.

MasterCard calls them MasterCard gift cards and Visa calls them virtual Visa gift cards. You can use them anywhere MasterCard and Visa are accepted.

There are some instances when paying with a virtual credit card won't work. You can't pick up theater tickets; confirm airline, hotel or rental car reservations with a virtual credit card. These credit card numbers don't exist off the Web so they don't work for these things.

But if you are using the disposable credit card numbers for buying products online the security benefits are well worth it. If you are looking for safer online shopping consider a virtual credit card.

The Truth about Online Credit Card Approval

2008-02-25T04:17:00.001-08:00

With the credit card industry developing at such unprecedented rate, more and more people are experiencing the so-called credit card hype. In fact, in the U.S. alone, the average household gets to receive at least two credit card applications in a day.

What happens next is that consumers have the propensity to get into information overload, and so, they do not have any time to meticulously scrutinize each application that they receive.

Moreover, because of having too many credit card application forms thriving on the mailboxes every single day, they find it hard to make clear choices. In fact, according to some surveys, 75% of credit card users admit that they do not read the fine print at all.

That is why when the information technology had taken its fair share in the industry, things were definitely better. This is because the credit card industry, along with the consumers, is so overwhelmed with the fact that everything can come on an instant using the Internet.

For this reason, the online credit approval programs of most credit card companies seem to be the most practical technique that was ever created. Many people find it feasible to use online credit card approvals than to exert extra effort to personally apply for credit, only to find out that they will be rejected in the end.

The Concept behind the Screen

Online credit approvals works the same way as the typical application forms. The only difference is that these things are not hard copies.

However, one of the best things about this program is that it lets the consumers have the time to analyze the credit card offers and see if it will work for them.

Basically, there is nothing special about online credit card approval. The interested person just have to supply the necessary information on the online application form, wait for a few minutes (usually within 60 seconds), and, when approved, the consumer just have to wait for his or her card.

But the best thing about it is that the bank can instantly check on a particular person’s identity and credit score. If ever the score meets the requirement, instant approval will be provided and the credit card will be processed as soon as possible.

So for those who wish to know the advantages of having an online credit card approval, here is a list of some possible benefits that they can get from this program:

1. No messy applications

With online credit card approval, people can almost be sure of a safe and smooth transaction. There are no too many papers to trash or too many brochures to pile. Everything is done in just a few minutes and the status is instantly known if the application was approved or not.

2. Instant verification and comparison

There is no better way to get the best deal from a credit card but to have it compared to the others. In this way, the interested person can see the difference among credit cards, which gives him the ability to identify the best credit card deal.

3. Numerous benefits from the issuing bank

With this program, consumers can easily tap the available exclusive benefits provided for online applicants. There are instances wherein the banks will instantly give their new credit card users some amount from the credit line that they have provided.

These are just a few of the many benefits that consumers can get with online credit card approval. It is the best thing the credit card industry could ever have.

Indeed, with online credit card approval, there is nothing in the world that money would not have a value for it. Online credit card approval simply makes great things possible.

Online Credit Card Application Methods

2008-02-25T04:16:00.000-08:00

With so many things to discuss about credit cards, you get to know more about the pros and cons of having one. In spite of the disadvantages however, it is realistic to say that it is a helpful tool for everybody to manage expenses. There’s no denying it. Credit cards are one of the main tools in purchasing goods and services today.

You can apply for credit cards directly to the credit card companies by filing up their information and application sheets. Thanks to technology, it plays its role again of providing convenient and easy to use services.

You can now find and apply for credit cards online. By simply clicking on your mouse, you can now have an access to different credit card companies available in the internet. You can also transact business from a multitude of banks available in the network.

If you have an Internet connection at home, you have the greatest advantage over other people. Almost a majority of the banks features an online application system via the Internet. One good thing about these banks is that they are willing to approve the credit cards within 30 seconds or even less.

The process of online application is simple. After you accomplish all the necessary prerequisites that you need to furnish, the website will send you through email the result of your application in just a few seconds.

In order for you to find out the types of credit cards that you can avail, try to search in the net. You have plenty of options. Every credit card company is obliged to post the entire copy of their terms and conditions. You can also check on it on the Internet. Some of the sites do not post their annual charges so beware about this.

If your problem is your previous bad credit, worry no more about it. Even in online credit card application, they offer a special credit card for people with such status. Nevertheless, there are certain restraints that are set for you unless you recover from your bad credit record.

As of now, more and more people are applying for credit cards online. Part of the reason for doing such is the speed and convenience of doing so. Another reason is that, you can choose from a wide variety of credit card companies. The sites are providing all the possible names of the companies that offer online credit card application.

Credit card application is easy. Everyday, an additional website posts all the needed information in the net. Therefore, you will have an access to a huge number of sites, if you want to shop around, it will be easier for you.

After you have decided on which type of card you want to avail, you click on the site of the credit card company and fill in your details. You will be asked about your personal data of course, be honest as possible in filing it for legality purposes.

They will check your application, review it and do a credit assessment. If they find all the information about yourself satisfying and they believe in your credibility, they will instantly accept your application. There are some rules that you also need to comply with credit card online application. You can find them online in their website. These rules vary from one credit card company to another.

Like direct application of credit card in credit card companies, always abide with the regulations that they set for you. This is also same with your credit card application online.

Accept Credit Cards Online

2008-02-23T04:56:00.001-08:00

If you have a business online, you are going to have to have a way to accept credit cards online. There is no way around it. You can’t run an online business by taking checks or money orders if you want to make money. If people have to take the time to send either of those in, they are going to get frustrated with the wait. You have to have a way to get a payment instantly so that you can get your product or service up and out the door as soon as they order it.

You will find that every successful website on the Internet knows how to accept credit cards online. They know that everyone is looking for fast service when they are shopping via the Internet, and that is what they give them. If you don’t accept credit cards online you should see about having that option available as soon as you can. If you don’t, you shouldn’t expect to make a go of it, and you are going to find that it is more hassle than it’s worth.

There are a few different ways to accept credit cards online, but it doesn’t matter which you choose as long as you choose one of them. You can have a system that takes the card numbers much like they do in retail stores, or you can use Paypal to accept credit cards online. Paypal is not as common as the first method, but it is gaining in popularity. Though some are leery of Paypal, I honestly think if you are going to use a credit card this is the way to go. A person can use their credit card in their own account with Paypal and it makes check out faster and easier, and some feel, more secure.

Make sure you provide your visitors with a secure setting if you want to accept credit cards online. This means that the transaction is encrypted so that their information is not broadcast around the Internet for those who may take those numbers for their own use. You can see an https:// beginning to any web address that has a secure setting. If you want to accept credit cards online you have to have this or your customers will most definitely think twice before they put their information in for an order. They want to be safe, so you have to make sure you do everything you can to keep them feeling secure and at ease about ordering through your site.

Discover Credit Cards - Online Offers Reviewed

2008-02-23T04:46:00.000-08:00

With over 50 million cardholders, Discover is one of the top credit card companies in the United States. After making its debut in 1985 as a division of Sears, the Discover Card quickly grew in popularity among consumers. And it’s easy to understand why: Discover offered benefits such as the “Cashback” program, which allowed cardholders to earn money for using their card. This rewards program and others offered through Discover have continued to improve over the years. Here are three popular Discover cards on the market today.

Discover Platinum Card

If you’re looking for a card with cash back benefits, the Discover Platinum Card may be a perfect fit. This card offers a 5% rebate for items purchased at participating locations, including restaurants, gas stations and clothing stores. You can also earn up to 1% cash back on general purchases.

Besides the cash back rewards, the Discover Platinum Card offers a 0% APR on purchases and balance transfers for the first year. If you have a sizable balance on your current card, transferring it to the Discover Platinum Card could be a smart move. You’ll be able to pay off the balance over a few months and stay interest free. You’ll also get to choose from over 150 card designs and will not have to pay an annual fee.

Discover Gas Card

If you spend hours on the road each week, the Discover Gas Card may be the right card for you. Through its rewards plan, you can reduce your gas budget. The Discover Gas Card offers 5% cash back on gas and auto maintenance purchases. You can earn up to 1% cash back on all other purchases. The card also includes a 0% APR on purchases and balance transfers for twelve months and no annual fee.

Discover Miles Card

If you’re searching for a credit card with great travel benefits, the Discover Miles Card is one of the best. Every month that you make a purchase during the first year you will receive 1,000 bonus miles. This can add up to 12,000 bonus miles in a year! That’s a great reward for using your card each month.

With the Discover Miles credit card, you will earn one mile for each dollar that you spend. You can then trade in the miles for airline tickets. There are no blackout dates for plane tickets. This, plus the additional benefit of no annual fee, sets the Discover Miles Card above other travel cards. Start off with a 0% introductory APR on purchases and balance transfers and then enjoy the travel rewards.

Keep in mind that these cards are usually available for those with good to excellent credit. If you have poor credit, you will want to look into a different card option. However, if your credit history is good, you can make the most out of your Discover Card options.

Starting with the cash back program, Discover has consistently offered high bonuses for using their card. If you have good credit and want a card with excellent benefits, a Discover Card is what you need. Apply today and let the rewards come piling your way.

Beware Of Bogus Credit Repair Companies!

2008-02-21T01:48:00.000-08:00

So-called "credit repair" companies claim they can remove negative information from credit reports. Advertising as "Credit Advisors," "Credit Rating Correction Services" or "Credit Consultants," they trumpet variations on this message: "Turned down because of bad credit? We can help!" Many of these companies charge hundreds if not thousands of dollars for the promise to "clean up" bad credit reports. But the truth is, these companies can only do what you could do yourself --at no charge.

Nobody can remove negative information that is accurate from your credit report. No company has a "secret" ability to remove all negative information.

But this doesn't stop their claims. This deceptive quote is from a credit repair company brochure: "Charged-off accounts, collection accounts, judgments, tax liens, repossessions, and even bankruptcies can be removed from your credit records in less than one year (five to seven month average)."

One tactic is to bombard credit reporting agencies with requests to verify information. If a credit reporting agency cannot verify an entry within 60 days, it will remove the information from the report. But if the information is later verified to be accurate, it will go back in the report.

Before you even consider signing a contract with a company that promises to repair your credit, remember these facts:

You may obtain a copy of your credit report on your own.
You have the right to dispute entries in your credit report.

Beware guaranteed credit offers!

Credit repair and other companies often claim they "guarantee" to get you a credit card, regardless of your credit history. In fact, these companies do not always honor their guarantee. Sometimes, they'll just take your money and run--you will not get any credit, regardless of what they promised.

If they get you a card at all it often will be a "secured" bank credit card, with high up-front "application" fees, that requires you to deposit and keep several hundred dollars in a savings account, or a card that only allows you to buy items in a catalogue from a business that you probably never heard of. (You can apply for a secured credit card by yourself. For a free list of banks that do not charge application fees for secured cards, see the information from Consumer Action in the "For More Information" section below.)

Credit repair companies often advertise on television, in newspapers and even on matchbooks. Sometimes they require consumers to dial a "900" telephone number to get more information. Calls to 900 numbers can cost $2 or $3 a minute, so listening to a few minutes of information about the cards can be expensive.

Some companies try to get people a credit card by having them apply using financial information of other people with good credit histories. It is a criminal act to apply for credit under someone else's name--do not do business with one of these companies.

Law enforcement agencies have shut down many credit repair outfits, but it is hard to stop a fraudulent credit repair outfit unless people complain about it. Therefore, be careful about responding to credit repair ads and be sure to complain to the agencies listed below if you think a credit repair company took advantage of you.

For more information

The Federal Trade Commission (FTC) publishes information for consumers on the subject of credit and enforces federal laws on credit. For a list of free publications, write to the FTC's Public Reference Department at the address given below. While the FTC does not handle individual cases, it can act when it sees a pattern of possible law violations develop. Complaints about credit reporting agencies and credit repair scams must be in writing. Send them to: FTC Credit Practices Division, 6th St., N.W., Washington, DC 20580.
Contact your local consumer protection agency or your state Attorney General's office. Many Attorneys General have toll-free consumer hotlines. These numbers may be listed in the "self-help" or government sections in the front of your phone book. These agencies can offer you advice and may also be able to help resolve your complaint.
Consumer Action's free complaint/information switchboards offering non-legal consumer advice and referrals can be reached from 10 a.m. to 2 p.m. on weekdays. Chinese, English and Spanish are spoken. Call either (415) 777-9635 (San Francisco office) or (213) 624-8327 (Los Angeles office). Consumer Action has a free list of secured credit card banks that do not charge application fees. To receive a free copy, send a self-addressed stamped envelope to: Consumer Action Secured Credit Card Survey, 717 Market St., Suite 310, San Francisco, CA 94103. (Available in English only.)
The Consumer Credit Counseling Service (CCCS) assists consumers who have problems in paying their bills--before their good credit ratings suffer. Your local CCCS office can help you work out flexible payment plans to make debt repayment more feasible. Call (800) 388-CCCS for an interactive recording that will provide you with the phone number of the office nearest to you. Spanish-speakers can call (800) 68-AYUDA (800-682-9832) between 8 a.m. and 7 p.m. central time.
Before you sign a contract with any company, check it out with the local Better Business Bureau (BBB), a non-government service which advises consumers on fraud prevention. Call your local BBB. If you cannot find a local number listed in the phone directory, call the Council of Better Business Bureaus at (703) 276-0100 for a referral to the office nearest you.

Getting the Best Deals from Gas Credit Cards

2008-02-21T01:46:00.000-08:00

If you put a lot of miles on your car you will find that gas credit cards can be quite beneficial. Almost all gas companies offer them to their patrons throughout the country. If you want to receive more information about them, you can hop on the Internet. Online sites will help you find offers for gas companies like Marathon, Conoco, Phillips 66, Citgo and Hess. They will also help find gas credit cards that permit you to buy any brand of gas you wish from any gas station.

Chase PerfectCard is one of the gas credit cards that are featured on online sites. It offers a rebate of six percent for the first 90 days, which is good on any gas purchase. Once this 90 day period expires, you will enjoy a one percent rebate on whatever you procure at restaurants, grocery stores, and clothing retailers. You will also earn a three percent rebate at all gas station purchases after the introductory period. Your APR is also fixed at zero percent on any balance you transfer to the cards for as long as nine months. Depending on your credit card, you can earn a rate under 14 percent and will not be charged for any annual fee. You can waive this annual fee by making a minimum of nine purchasers for the year.

Hess gas credit cards on the other hand, offer you promotions for free gas and merchandise at all Hess, Hess Express and Wilco Hess location. You will earn a ten percent rebate during the ninety day introductory period. After which you will net a five percent rebate for every Hess purchase while purchases from other gas stations will give you a one percent rebate. If you get the Hess platinum gas credit cards, your preliminary APR is zero balance and can last up to six months. You will not be charged for any yearly fee with this credit card.

Marathon gas credit cards offer a big ten percent rebate on Marathon Midwest and Southeast gas stations the first sixty days you use your card. After that you'll realize a continuous five percent rebate. This MasterCard gas credit card will not charge you an annual fee for the first year. If you use this credit card for nine purchases for the year, you will not be required to pay the usual ninety dollar yearly fee for the succeeding year. The rate on this card can be as low as 13.99 percent depending on your credit. You will enjoy no fee and zero percent APR on any balance transfers.

Accept Credit Cards Online Without a Merchant Account

2008-02-20T21:14:00.000-08:00

There are two major ways to accept credit cards on your website. The first and most expensive is to have your own merchant account. Not only is this option expensive, it also requires extensive credit checks, lots of paperwork, and usually takes days or weeks before you get approved. Fortunately, there is an alternative.

Third party payment processors who will accept credit card payments on your behalf exist in growing numbers. These third party processors will take a percentage of your sale for their troubles, then pass on the rest to you. Rates vary greatly from one payment provider to another so doing your homework is important in order to get the right fit for you. Some payment providers will accept all kinds of goods and services while others specialize in only digital products, or hard goods, or services.

General Purpose Payment Providers include:

Paypal – Owned by Ebay, Paypal offers one of the lowest rates of any third party payment processor. At the time of this writing, their standard rates were 2.9% plus $0.30 US per transaction. Paypal offers excellent support and great documentation to get you up and running in no time at all. www.paypal.com

2checkout.com – Has a $49 US one time setup fee. Their rates at the time of this writing were $0.45 US plus 5.5% transaction fee. Discount rates are middle of the pack, service is very good and through them, you can accept most major credit cards. www.2checkout.com

Digital Information Payment Providers include:

Clickbank – You pay a one time $49.95 US activation fee. They then pay you the retail price of your product minus $1 and a 7.5% fee. Clickbank also has an easy to use affiliate program so that you can make money when others sell your product. www.clickbank.com

Digibuy – An electronic commerce solution for publishers of software, shareware, electronic art, information, and data. They charge a rate of 13.9% per transaction with a $3 US minimum order. They provide you with many features including brandable order forms, invoicing and test orders. www.digibuy.com

All but Clickbank give you the ability to have brandable shopping carts. This allows you to customize your order forms so that the customer doesn't feel like they are leaving your site thereby building trust. All of the third party payment processors above provide you with help to get started.

Accepting credit cards online doesn't have to cost you a lot of money. Most times it doesn't even have to include a credit check. Most of these services will even make regular deposits directly into your bank account for ultimate convenience.

When you need to accept credit cards quickly and inexpensively, one of the payment providers mentioned above just might fit the bill.

Applying For Credit Cards Online

2008-02-20T21:07:00.000-08:00

More and more people are applying for credit cards online. With the plethora of different means for which you can apply for your desired card, companies really try to make it easy for you to apply for their credit card. Along with online auctions, and shopping, signing up for credit cards, loans and insurance has been one of the fastest growing commercial activities on the net. Part of the reason is the speed and convenience of doing so. Another part of the reason is that you can find out the offers of a huge number of providers all at one place and judge which is the best very easily.

Applying for credit cards online can be an extremely simple process. Most credit card providers have websites that give you all of the necessary information to make your decision. If you are looking for a credit card, all you need do is visit their site and judge for yourself if the terms are acceptable. You have access to a huge number of card providers online so if you want to shop around it couldn’t be easier. There are even websites that specialise in comparing different rates and different categories of card which make your selection process even easier. For example, if you want a credit card that provides a good balance transfer rate, then you can search these specific cards. Or if you want a card that has a good reward scheme, low interest rates on purchases, or any other speciality, then it will all be there at your finger tips.

Once you have decided on a card, click the link to the card providers website or application form and fill in your details. You will be asked for all your personal details, and usually that is all. The rest of the information, the card providers can access themselves through your credit report. They will take your application and review it and do a credit check. If they are satisfied that you are a good risk, they will accept your application. While this is all done in the same way as any other form of credit application, because it is online it is secure, and also a lot faster. You do not have to wait for the application to get to them in the post and it is a lot more difficult for would be fraudsters to intercept the information.

Once the card provider has accepted your application, they will mail out the necessary documents which you should read, sign and return. Within a week, they can have sent you your card, and your pin in two separate letters and the process is complete; you have just been accepted for a new credit card.

There are some rules to credit card use that you should also be aware of, determined by the type of card that you have. Normally 0% balance transfer credit cards when you are transferring balances have the basic rule of not spending on the card – anything that you spend will accumulate interest, while you continue to pay the transferred balance. In effect, negating the point of the 0% transfer.

Credit Cards - Applying Online For A Credit Card

2008-02-19T02:16:00.000-08:00

Everyone is familiar with the credit card applications we get in the mail every week. While many of these cards say you are pre-approved, you can still wait for several weeks before hearing of a decision on the acceptance of your application. The Internet has changed all that. Applying for a credit card online can mean getting approved in a matter of minutes. What are some things to look for in applying for any new credit card online?

How Is Your Credit?

If you know that your credit is good then you'll have no issues in getting approved for an online credit card. The credit cards with the best terms and rates will always go to the consumers with the best credit. So, it is always a good idea to know what your credit report says about you. Be sure to check your credit report at least twice a year. Another benefit of doing that is to be sure there are no errors on it.

If you haven't reviewed your credit report in some time, then it would be a good idea to do so before applying for a new credit card. Check it out for accuracy and fix anything that needs attention. Keep in mind that by applying for credit cards and getting turned down, will affect your FICO score. This can play a key role in getting future credit offers.

Applying Online

After you know whether or not your credit is good enough to be approved for a new credit card, you're ready to apply online for an immediate approval card. All credit card companies will ask you for the same basic information: name, address, phone, social security number, date of birth, employer, length of employment, gross income, etc.

Before you apply online for your new credit card, read the terms and conditions carefully. Check to make sure there are no surprise fees. All credit card companies will require you to submit your social security number. They do this so they can pull your credit report and determine whether or not you are creditworthy enough to approve you for a new card. One important note to check for; make sure that you are using a secure server when transmitting the information online. It should say SSL 128-bit encryption. This is standard procedure over the Internet today. It will make it virtually impossible for someone to steal your information.

When you enter in all your information and press "send", you will have an approval/disapproval decision in minutes. It will either show up right on computer screen, or be sent to your email address.

After you receive the news of your approval, you can expect your new credit card to arrive in the mail usually within 2 weeks. If you have been turned down for the credit card you applied for, you'll be sent a letter in the mail stating the reasons for your denial. Check over the reason for your denial. It may simply be a mistake, in which you can speak to someone at the credit card company and they can help you get it corrected.

Credit Card Application Instant Approval Online

2008-02-19T02:09:00.000-08:00

You can get credit card application instant approval online from a high quality, secure web site such as BestCreditQuote.com. In many cases you will know in minutes if you have been approved. It will take maybe two minutes to complete the application and another minute or so for the credit card company to process your information to see if you qualify for their offer.

Upon approval, it will take a week or so to get your new credit card in the mail. In many cases, if you are exercising a balance transfer option, you will submit all of the relevant information necessary right on the application. The credit card company will then facilitate the transfer on your behalf. There is no need to contact your current card issuer. It will all be taken care of for you.

In many cases, to meet the requirements for credit card application instant approval, you must have a solid credit history. The competition amongst banks and credit card issuers such as Bank of America, Chase and Discover Card has become quite fierce in recent years. That is good news for the consumer. The issuers will do whatever is necessary to make it not only attractive, but easy to obtain.

There are also many different deals that allow for flexibility in choosing offers. Perhaps a rewards program is enticing for you. Or, if you travel often, an airline miles credit card will benefit you. In recent times, with gasoline prices rising, the gas rebate credit cards have become very popular. Many of these services offer instant online credit card approval.

There is absolutely no question that the Internet makes life a great deal easier for all of us. I especially appreciate the aspect that we are now able to easily and conveniently compare the various credit card offers using a single resource. I can't even imagine sorting through all of the applications sent through the mail to compare the terms, conditions and benefits of the many offers.

Credit card application instant approval online are also available to people with poor credit. The simple fact is that there are nowhere near as many options available than there are for consumers with good credit records. Finding a card that benefits your specific financial needs is a matter of doing your homework. The choices are many, but it is not one size fits all... do your homework.

Credit Cards - Applying Online For A Credit Card

2008-02-18T02:01:00.001-08:00

How Is Your Credit?

Applying Online

When you enter in all your information and press "send", you will have an approval/disapproval decision in minutes. It will either show up right on computer screen, or be sent to your email address.

Credit Card Application Instant Approval Online

2008-02-18T02:00:00.000-08:00

Upon approval, it will take a week or so to get your new credit card in the mail. In many cases, if you are exercising a balance transfer option, you will submit all of the relevant information necessary right on the application. The credit card company will then facilitate the transfer on your behalf. There is no need to contact your current card issuer. It will all be taken care of for you.

In many cases, to meet the requirements for credit card application instant approval, you must have a solid credit history. The competition amongst banks and credit card issuers such as Bank of America, Chase and Discover Card has become quite fierce in recent years. That is good news for the consumer. The issuers will do whatever is necessary to make it not only attractive, but easy to obtain.

There are also many different deals that allow for flexibility in choosing offers. Perhaps a rewards program is enticing for you. Or, if you travel often, an airline miles credit card will benefit you. In recent times, with gasoline prices rising, the gas rebate credit cards have become very popular. Many of these services offer instant online credit card approval.

There is absolutely no question that the Internet makes life a great deal easier for all of us. I especially appreciate the aspect that we are now able to easily and conveniently compare the various credit card offers using a single resource. I can't even imagine sorting through all of the applications sent through the mail to compare the terms, conditions and benefits of the many offers.

Credit card application instant approval online are also available to people with poor credit. The simple fact is that there are nowhere near as many options available than there are for consumers with good credit records. Finding a card that benefits your specific financial needs is a matter of doing your homework. The choices are many, but it is not one size fits all... do your homework.

Identity Theft Using Credit Cards

2008-02-14T02:04:00.000-08:00

With online commerce growing everyday, using credit cards is the easiest and most convenient mode of online payment. And during the early years of online transactions, the use of credit cards has spawned a new breed of criminals that have made a living at the expense of these credit card owners. It's now more commonly known as Identity Theft. The new crime emerging in the last years of the 20th century and is only now being recognized for the damage it can do to many unsuspecting credit card holders.

What Gets Stolen?

Identity theft is basically a crime of stealing personal data for personal gain. Credit card numbers, bank account numbers, Social Security numbers and PIN are the most common personal data that can get you into trouble once stolen or lost. And of these, Credit card numbers are the easiest.

There are basically three ways that credit card data can fall into unscrupulous hands. Firstly, thieves can just take note of your credit card number when you use them in merchant stores. Every card holder is vulnerable. Even when paying for your meals in a restaurant can be risky. You'll never know if the waitress or cashier is in cahoots with some syndicate preying on unwary customers paying with their cards.

Secondly, thieves can hack into unsecured online transactions to capture not only your card information but also the other personal data typically required to effect an online payment for card verification. Telephone purchases can also be eavesdropped to surreptitiously obtain such information. Lastly, lost and stolen credit cards find their way in the hands of unscrupulous people who find the window between the time they are lost and the time the card is reported.

So what Do We Do About It?

There is only so much a credit card user can do to minimize the risk of falling victim to Identity Theft. Credit cards in themselves have very low security features against fraud. Those holograph symbols are there to prevent fraudulent duplication of the card. But the card itself is not necessary to make fraudulent transactions. Bear in mind that many merchants accept "Not Present Credit Purchases", so there is no need for the physical credit card or the person owning it for a purchase to take place.

For online transactions, most reputable online merchants are using security encryption schemes to protect its customers. Online customers are now advised to refrain from making such payments on the net on merchant sites that do not use such schemes. And there are secure payment sites like PayPal and other payment bureaus that use encryption methods that make it increasingly difficult for online hackers to steal your credit card and personal data.

The FBI and the US Postal Inspection Services are the government agencies tasked with combating credit frauds. But prosecution is often initiated for frauds committed involving $5000 and above. The bureaus are constrained by limited resources to pursue all criminals. The best way to do for us consumers is to really get a good grip of our cards and be constantly updated for credit protection methods.

Applying For Credit Cards Online

2008-02-14T02:03:00.000-08:00

How To Get Zero Interest Credit Cards

2008-02-13T02:17:00.001-08:00

Zero interest credit cards are probably the most under-utilized way to get on one's financial feet. There's plenty of advice available on using lower interest debt consolidation loans to consolidate credit debt and reduce monthly payments. However, very rarely do we hear the suggestion that we can get away with paying no interest at all unless someone is trying to sell us furniture on a buy now and pay later basis. Yet, special zero rate credit card offers provide a fantastic way to significantly reduce monthly expenditure on credit cards as well as to get out of debt sooner.

You don't have to be a materialistic, greedy individual to find yourself overspending on credit cards. So many things can go wrong in this high cost society that can increase our credit card debt. Serious illness, emergency repairs and job loss are just a few common situations that can cause our credit card balances to soar. Most of us hope that things will get better and we will be able to catch up later, unfortunately the higher our credit card balances, the higher our monthly payments. This increasing monthly cost can keep us poor and make it difficult for us to ever get back on our feet. The largest part of our monthly credit card payments are interest charges. Therefore, it only makes sense to reduce our interest costs as much as possible and you can't get lower than zero interest. By simply transferring your credit card balances to one of the many available zero interest credit cards you will be able to save your interest charges for a given, introductory period of time.

There so many introductory credit cards available that it can be difficult to sort through them and choose the best one for your needs. It is important to choose an offer with low balance transfer fees and a long introductory period during which you do not have to pay any interest at all. The easiest way to find zero interest credit cards is to use a professional online credit card service which has already done a lot of the hard work for you by finding the best deals. These sites not only give you a number of cards to choose from, they also offer online applications to make things convenient and easy.

However, to truly make the most of zero interest credit cards, you can keep transferring the balance to new zero rate offers before the end of each introductory period. If you do this, you will never pay interest. Unfortunately, with the best will in the world, life tends to take over and we can easily forget to transfer the balance before interest payments kick in. Some of the more excellent online credit card services also offer a reminder service to let you know when your interest free period is due to expire so that you can apply to transfer your balance to a new interest free credit card offer.

Used in this way, zero interest credit cards can substantially improve your financial position. By taking advantage of professional, online services that also offer an alert to remind you when to transfer your credit card balance again you can take long term advantage of interest free credit card offers. Do this, and you'll never look back.

Balance Transfer Credit Cards

2008-02-13T02:15:00.000-08:00

Do you have a credit card with a balance? Are you looking to save money? If so, you might to learn more about balance transfer credit cards. These credit cards are ideal for people looking to save money and in this article, we tell you exactly why.

What Are Balance Transfer Credit Cards?

Balance transfer credit cards are available for those who are looking to pay off one credit card with another. This may sound like a silly thing to some people. However, if you are currently paying high rates of interest with one credit card, but another offers you a great interest rate on balance transfers, why wouldn't you take advantage of the lower rate?

What Types Of Balance Transfer Credit Cards Are Available?

The great thing about this type of credit card is that they are generally available in most any type. Many different reward program credit cards also offer balance transfers and at a great rate. However, there are credit cards that are designed specifically for those with balances and are looking to take advantage of a lower interest rate.

How Do They Work?

It is really easy to get started with balance transfer credit cards. The first thing you have to do is apply for the credit card. Generally, when you apply, they will ask you to list the balance, type, and other information regarding the credit cards you are wishing to transfer. Once you have been approved, the balance is then transferred over to the new card and becomes a part of your new account.

Essentially, the credit card company will pay off the existing creditor and take on the credit themselves. You will begin to pay them back for this balance instead. It is something like refinancing a loan to get a better rate of interest.

The Pros and Cons of Balance Transfer Credit Cards

Balance transfer credit cards can be great for getting a lower rate of interest. They can also take some of the pressure off of your life when you are paying less. However, it is important to be very careful about the credit card you choose. In many cases, there are a host of fees involved in balance transfers. This could be as much as $100 just to transfer the balance to your new credit card.

The best way to understand if balance transfer credit cards are right for you is to read the terms and conditions as they apply to a specific credit card. This will give you a rundown of all fees involved, as well as interest rates to expect and the like. Carefully comparing different credit cards can enable you to make the right decision in regards to your own financial affairs. You can read more about Balance Transfer Credit Cards here.

Online Credit Card Application Methods

2008-02-12T01:57:00.000-08:00

The Truth about Online Credit Card Approval

2008-02-11T03:22:00.000-08:00

How To Get Zero Interest Credit Cards

2008-02-11T03:21:00.000-08:00

Online Credit Card Application Methods

2008-02-08T01:56:00.001-08:00

Balance Transfer Credit Cards

2008-02-08T01:54:00.000-08:00

How to Get Zero Percent Interest Credit Card Balance Transfer

2008-02-07T01:30:00.000-08:00

Credit cards have become the latest convenience in purchasing anything online or at a store. When you purchase something online, the convenience of typing in your credit card number can give you something that you have always wanted or something you just found that you have to buy.

We have all been there and wonder if you will have the money to pay back once you receive the item. Another great thing about credit cards is the fact that you can transfer money using the 0% interest credit card balance transfer. This makes transferring quick and easy without costing a lot of money.

If you have more than one credit card, like most people do these days, you understand that you may buy from one and transfer the money from another card to pay that off and pay back your other card. You save money and you don't pay any interest for up to one year. You may have to do some research to determine who has the best 0% interest credit balance transfer between the cards that you own. If you have one that offers a percentage fee you may want to skip that one to avoid other charges that may pop up when you least expect it.

When you have a card that offers 0% interest rate on your card, this savings is usually only applied to balance transfers. If you have a card that offers 0% interest rate on your card you need to use that only for that purpose. This discount is worth keeping this card for. You may not use it for anything else, and that is okay if you don't. Because of 0% interest credit balance transfer you can get your money quickly and easily without any hassle. It's easy to get behind on credit cards, especially if you have more than one. You may find that you can't manage to keep them all paid off or you are having trouble keeping up with all the balances. You may need to cancel one or more in order to prevent yourself from becoming too far in debt. This happens easily and can't be avoided sometimes.

So if you have the option of 0% interest credit card balance and transfer you need to transfer as much of your credit debt that you can. Transfer the credit debt that has the highest interest rate first. Then you will start to see the savings. The higher interest credit card sometimes makes purchasing a little too easy so after the transfer you may want to destroy it and cancel your membership with that card. Credit cards are probably one of the easiest things for teenagers to get and one of the hardest to pay back. If you have a teen who is wanting a credit card you may let them know about 0% interest credit card balance transfer so they can make that decision when it comes time.

Applying Online for a Credit Card: What You Need to Know First

2008-02-06T00:10:00.000-08:00

A large percentage of the world’s population relies on the internet. The internet is used to research a particular topic, order merchandise, or obtain a service. The internet is also being used to obtain credit cards. Online card offers are all over the internet. By filing out a simple online form, you could be on your way to having a credit card in your pocket. Despite the fact that applying for a credit card online is easy, there are still a number of important factors that you must consider.

Perhaps, the most important thing that you need to remember is that anyone can make an online website. The internet is nice, but it has opened up the door to fraud. When applying online for a credit card, you need to know exactly who you are dealing with. This can be done by applying for a credit card that is from a well-known company. Applying for a credit card from a reputable credit card company is the best way to find a legitimate offer, but it is not the only way.

When filling out an online application, you are encouraged to examine the website that you are on. Since you will be required to disclose important personal information, such as your social security number, you will want to make sure that your information will be safe. You can do this by reading a company’s privacy policy. A credit card company’s policy information should be easy to find on their online website. It is also advised that you determine whether or not the website you are on is secure. This can be done by looking for a small lock, often found on the bottom right-hand side of the site.

If you do make the decision to apply for a credit card that is not being offered by a well-known company, you are encouraged to be careful. You may want to examine the company before submitting an application. A standard internet search may be able to provide you with valuable information. If any person has had good luck with the company in the past, or even bad luck, it is likely that you will be able to find this information online.

In addition to using the internet to research a credit card company that you have not heard of before, you can also use your telephone. Somewhere on the company’s website, contact information should be provided. If you are in doubt, you are encouraged to call the number listed on your computer screen. When speaking to a credit card company, you are encouraged to examine the level of service that you receive. If the representative is friendly, helpful, and can answer all of your questions, you may be dealing with a legitimate company. If not, you are encouraged to move on.

Many individuals enjoy applying for credit cards online. Online applications are usually easy to fill out and submit. Despite being the most preferred method of obtaining a credit card, you are still encouraged to use your best judgment. If you find an application that makes you feel uncomfortable, you are urged to not fill it out. In today’s world it is never a bad idea to stay on the safe side.

Credit Cards - Applying Online For A Credit Card

2008-02-06T00:09:00.000-08:00

Applying For Credit Cards Online

2008-02-05T02:44:00.001-08:00

Is Your Credit Card Information at Risk With Small Business and Retailers

2008-02-05T02:42:00.000-08:00

Is your credit card information at risk when you visit your local retailer? We all would like to believe that our local retailer or favorite restaurant is keeping your personal and credit/debit card information secure and out of the hands of those who want to commit fraud against many honest people doing business today. This is what I thought once I received my Visa bill one month to see $1,500.00 of liquor purchases and pizzas on my monthly statement. I was a victim of Credit Card fraud.

According to a number of industry experts, smaller business and retailers are not taking the required steps to ensure that the credit and debit card purchases made by their patrons are secure. Even today, credit card information is still being stored on local computer systems that are not protected or up to date. Many small businesses are failing to protect their networks with firewall solutions that can protect retailers from trojans and other malicious code from being installed on systems because of inappropriate web surfing being allowed in smaller retailers or attempts at stealing information via wireless connections or over the Internet.

Until recently, the payment card industry’s training was not up to par to educate small business merchants in what it took to ensure their transaction information was occurring in a secure manner. As of the end of July 2007, Visa USA has started to require that some 250 or so credit card processors begin to share their plans to ensure that all credit card transactions happen in a secure manner.

In May of this year, the State of Minnesota passed the Plastic Card Security Act. The act clearly states that any business that wishes to do business in Minnesota must comply with the regulations around storing credit card information. The law took effect in August and holds the business owner and business liable for the costs associated with breaches or fraudulent transactions.

Why does credit card still occur in today’s world?

•Lack of knowledge – Many small business owners, retailers and restaurant owners are busy in their day to day businesses (working in their business and not on their business) and not up to speed with the current regulations to secure their patrons information from unauthorized use.

•Out of date systems – Many smaller based businesses do not have the resources to keep their computer systems up to date to ensure that credit card numbers are not stored on systems or they run older versions of software that does not offer the encryption needed when processing credit or debit transactions.

•Lack of perimeter security – I have seen this many times in small business, they fail to secure their systems with a robust and scalable firewall solution. They usually plug their Internet connection right into the back of their computer and do not employ a proper firewall solution or they purchase a router from their local office supply store that has no unified threat management security built into these devices. Firewalls such as the SonicWALL TZ180 will ensure that restaurants, retailers and small business are secure from threats on the Internet today, protect from network intrusions, spyware and virus attacks and inappropriate Internet use.

•Open wireless – Hackers can easily get into your system through an open wireless connection in a matter of seconds, they can connect, get the information they need and disconnect before you even realize that something has happened. This information is then openly sold on the Internet. Is your Wireless network secured with the best security encryption and mechanisms to ensure your customers’ information is secure?

What can your business do?

•Invest in a technology audit – An evaluation of your computer network by a certified professional will easily show you areas of vulnerabilities within your computer network and Internet/Wireless security. An audit when completed successfully will list all areas that require attention with recommendations to get you on the road towards compliance.

•Hire the best IT support – Once your evaluation is completed, having a trusted IT partner and advisor will ensure that your business systems stay up to date. This will ensure that you are protected from newly identified security threats that exist on the Internet and how these issues may affect your business systems. Hiring a Microsoft Small Business Specialist and SonicWALL Gold Partner will ensure that your network is properly cared for.

•Upgrade systems and software – It may become necessary to update your computer systems and your software to the versions that address the requirements laid out by the credit card and financial institutions. The latest versions of Windows and Microsoft Office are available and offer update security systems to protect your business.

•Learn more about PCI DSS – What is PCI DSS? PCI Data Security Standards ensure that your customer’s information is stored securely and that transactions occur in a secured manner. It is critically important that you invest the time to learn how the rules and requirements detailed in Payment Card Infrastructure compliance. Ignorance of the upcoming and current changes may just be the beginning of your challenges. On top of the investments needed once a breach has occurred many businesses may also have fines related to due diligence not being done in your business.

Many small business, restaurants and retail owners are not computer people, running out to the local computer or office supply store and investing in a low cost router is not enough to secure your business. It is a must to have a small business specialist and security professional that can recommend the right solution for you. Unified Threat Management firewalls can protect your business in the manner that will ensure your customer’s payment card information is secured the threats on the Internet, secured from hacking attempts and other business threats that are introduced when an employee uses the Internet or your systems for inappropriate use.

Also a computer support company that can take the hassle of technology off your plate with a structured maintenance plan that consists of monitoring your network, managing your systems and proactive support may just save your business from the loss of creditability associated with a breach or the hefty fines that may occur when a breach occurs on your network.

Hackers are out there 24/7, Internet and network security is not just a local problem. Hackers can be on the other side of the world or parked outside your restaurant or business. What are you willing to lose by not taking steps today to secure your business from those trying to exploit it?

Accept Credit Cards Online Without a Merchant Account

2008-02-04T00:36:00.000-08:00

There are two major ways to accept credit cards on your website. The first and most expensive is to have your own merchant account. Not only is this option expensive, it also requires extensive credit checks, lots of paperwork, and usually takes days or weeks before you get approved. Fortunately, there is an alternative.

Third party payment processors who will accept credit card payments on your behalf exist in growing numbers. These third party processors will take a percentage of your sale for their troubles, then pass on the rest to you. Rates vary greatly from one payment provider to another so doing your homework is important in order to get the right fit for you. Some payment providers will accept all kinds of goods and services while others specialize in only digital products, or hard goods, or services.

General Purpose Payment Providers include:

Paypal – Owned by Ebay, Paypal offers one of the lowest rates of any third party payment processor. At the time of this writing, their standard rates were 2.9% plus $0.30 US per transaction. Paypal offers excellent support and great documentation to get you up and running in no time at all. www.paypal.com

2checkout.com – Has a $49 US one time setup fee. Their rates at the time of this writing were $0.45 US plus 5.5% transaction fee. Discount rates are middle of the pack, service is very good and through them, you can accept most major credit cards. www.2checkout.com

Digital Information Payment Providers include:

Clickbank – You pay a one time $49.95 US activation fee. They then pay you the retail price of your product minus $1 and a 7.5% fee. Clickbank also has an easy to use affiliate program so that you can make money when others sell your product. www.clickbank.com

Digibuy – An electronic commerce solution for publishers of software, shareware, electronic art, information, and data. They charge a rate of 13.9% per transaction with a $3 US minimum order. They provide you with many features including brandable order forms.

All but Clickbank give you the ability to have brandable shopping carts. This allows you to customize your order forms so that the customer doesn't feel like they are leaving your site thereby building trust. All of the third party payment processors above provide you with help to get started.

Accepting credit cards online doesn't have to cost you a lot of money. Most times it doesn't even have to include a credit check. Most of these services will even make regular deposits directly into your bank account for ultimate convenience.

When you need to accept credit cards quickly and inexpensively, one of the payment providers mentioned above just might fit the bill.

Important Information About Using Credit Cards Online

2008-02-04T00:35:00.000-08:00

With the invention of the internet, plenty of virtual shops and e-shops arrived which are available only on the internet. As the shops are virtually exists, the money should be virtual too. For this reason the credit card issuers have made it possible to purchase a thing from these online shops using their credit cards. The payment approval system of an online store can help you a lot for purchasing something. The purchased product will be delivered at your residence only after confirming your credit card payment. You can enjoy the convenience of shopping from sitting in front of your computer. As more and more online shops are developing everyday, the usage of credit cards online is getting more popular than ever. By enabling online payment through credit cards has conveyed a new approach of shopping for both the credit card holders and merchants.

You don't have to worry about traffic jams, weather or other obscurities if you choose an online store for purchasing your necessary items. After completing an accepted payment through online, all you have to do is to wait for the delivery at your home. But using credit card online has also some demerits like almost anything else and one of the most important of them is the probability of credit card fraud. There are usually two ways of credit card fraud. The first one is concerned with the merchant that you are going to purchase a product online. The merchant may be fake that receives your credit card payment but deliver no items to you. They could also gather your credit card information that you have put on the payment form and use them for bad purposes. The second category of fraud is more dangerous which is committed by professional hackers. They intercept the details of your online credit card by using technology and spyware software. These kinds of programs are able to capture keystrokes or screenshots of your computer and send them to the spy. But don't worry. You can protect this kind of online fraud easily by using anti-spyware programs designed to oppose the efficiency of spyware.

Using credit cards online is a very useful option of purchasing for both consumers and sellers. But you have to be careful when paying online through your credit card. Don't make an online payment or access you bank account from internet cafes until you are absolutely sure about their activities.

When Will The Credit Card Bubble Burst?

2008-02-02T01:13:00.000-08:00

In case you didn't know, there is another bubble, growing massively in this country, getting ready to burst. Revolving consumer credit card debt continues to grow each month, finally breaking the $900 Billion dollar mark for the first time last June. The Federal Reserve reports that this year, Americans have piled on $39 Billion in new credit card debt. We refer to the looming crisis as the credit card tsunami. You better batten down the hatches!

For the month of August 2007, USA, consumers added another $6.2 Billion in new debt, on top of the $5.6 Billion they racked up in July. Overall, including everything except mortgages, Americans owe almost $ 2.5 TRILLION DOLLARS in debt! Now that the mortgage game is over, and all that easy money has been made, the next big thing the banks will milk for maximum growth and profits are credit cards. Fees and penalties have been steadily increasing for years, as have average interest rates. Last year, the banks made over $100 Billion in interest & another $50 Billion in Fees & Penalties; these guys are not your friends.

Many people, who are being squeezed by the bursting housing bubble, are increasingly relying on their credit cards to live. Since the spigot to the home equity money has run dry, and their lifestyles are not changing, or circumstances like lost jobs or medical hardships cause them to continue to rely on credit cards, there is no end in sight to how much additional debt John Q. Public will take on. At some point, the dam has to burst, and a lot of people are going to drown.

Who knows how many people lived beyond their means during the last few years, extracting the temporary wealth in their real estate, only to spend it on luxuries like vacations, and lavish weddings in Tuscany? How many people transferred unsecured, credit card debt to their real estate, only to risk it to foreclosure if they miss a few payments? How about the people who thought the value of an already overpriced home would continue to increase, and took out teaser rate mortgages, hoping to refinance with the profit in a couple years, and are now stuck with a mortgage that has doubled, and no way to pay for it?

Now that the game is over, those people are turning to their credit cards to survive. People who were "hooked" by teaser rate mortgages, now find themselves unable to pay the "real" mortgage payment. Many are going into default on the mortgage, and keeping current on the credit cards. Some are using them like an ATM, maxing them out to their limit, as well as constantly applying for the barrage of new cards that grace their mailbox.

They are living in a fantasy land if they think the missed mortgage payments won't hurt their credit. Give it a month or three, and when the credit cards see that you are missing mortgage payments, they jack up your interest rates to 25%+ and then you are, excuse my French, "screwed." Most of your payment will be wasted on interest, and it could take 10-100 years to pay the debt off.

The card companies know people will do anything to stay current on cards, and that people need cash. Requirements to get a credit card are at there lowest in 10 years according to a Fed survey; if you have a pulse, you can get a credit card. They even give credit cards to peoples pets.

The junk mail credit card solicitations that grace your mailbox are driven to the post office in semi-trucks on pallets, and they are unloaded with forklifts. While the mailers are actually less than what was mailed out at their peak in 2005, the percentage of people responding to, and being accepted by the credit card companies, has risen steadily and has actually increased three times since 2005!

All this is a result of the shut down in taking equity out of your overpriced home. It was never sustainable, and I feel sorry for the people who bought at the peak, paying $600,000 plus for a 40 year old home that was not worth 1⁄4 of that price. To think the bubble could keep getting bigger and the median price of a home exceeded the ability of the average person to buy one, it was only a matter of time before something had to give, and it has.

Now, I talk to people all day long who are taking cash advances from credit cards to live on, or pay their mortgages; that will end at some point.

The credit card bubble will be the next one to burst. If your credit card debt is out of control, you have to do something. Through the process of debt settlement, there are ways to settle with the creditors for less than what you owe, within 3-4 years, that will leave you in a position to get new credit after it is over. Read our free report on Debt Settlement to see if it's an option for you.

How To Get Zero Interest Credit Cards

2008-02-02T01:11:00.000-08:00

Discover Credit Cards - Online Offers Reviewed

2008-02-01T01:59:00.000-08:00

Don't Become A Victim of Credit Card Fraud

2008-02-01T01:58:00.000-08:00

Hundreds of people each year are victims of fraud, and many of these relate to their credit cards. There are many ways for identity thieves to obtain your credit card details but likewise, there are many ways to avoid them.

Because cards can be used at cash machines, always be vigilant when using them. If you notice anything unusual about the machine itself, don't use it, but instead go into the bank and report it. If anyone suspicious is hanging around the machine, go elsewhere. When entering your PIN number, shield the keypad with your body and other hand.

Writing your PIN down is one of the most foolish things to do, so memorise it and destroy the document it came with. Then change it to something else as soon as possible. It's also a good idea to change the PIN for your credit cards regularly anyway, as some thieves will watch you for a number of weeks before seizing an opportunity to get your card.

When using credit cards online, look for the 'secure server' icon (normally a small padlock in the bottom right hand corner of your browser) which will indicate your card details are fully encrypted when sent. If a site does not have this, or the address doesn't start with "https", don't use it.

Try not to let your credit cards out of your site, especially when abroad or paying in restaurants. Most places will be legitimate, but it only takes one unscrupulous waiter to walk away with and copy your card and you're a victim of identity theft.

If you move house, ensure you get all your mail redirected as this is a great way for thieves to access your valuable information and use it for fraudulent purposes. Always destroy any personal documents by either shredding or ripping up into tiny pieces so anyone nosing through your rubbish bin can't get anything useful.

Lastly, never tell anyone your PIN number, especially if you receive an email or phone call asking you to do so. A reputable bank would never ask for your PIN. If you're in doubt, phone the company in question and verify any queries with them.

How to Get Out of Credit Card Debt and Take Control of Your Finances

2008-01-31T03:06:00.000-08:00

If you are trying to learn how to get out of credit card debt then you are no different then millions of other people who find themselves in the same financial straights as you. Unfortunately the only way you can take back control of your finances is to deal with this debt head on. But if you stop and think about how much better things would be without that debt you will see why this needs all your attention.

The first thing you will need to do is find out just how much credit card debt you actually have. If you are like most people facing this problem you have probably looked at your monthly statements as they come in and then tried to pay the minimum balance which isn't making much of a dent in those balances.

Step one is to gather up all your most current statements for this month and make a quick credit card debt spreadsheet. It doesn't need to be a fancy spreadsheet, just use a pencils and a piece of paper. On the left hand side of your paper write a column of all the names of the credit cards you have. In subsequent columns write down the balance owed for each, the monthly minimum payment, the monthly interest paid, and the interest rate being paid. Now add up the balance column, the minimum payment column, and the interest paid column and write down each number at the bottom. This will show you exactly how much you owe, how much you are sending out each month in payments, and how much you are paying these companies in interest.

These totals may be scary to look at but it's something that needs to be done if you are to ever get out of the financial mess these credit cards have caused. Think about what you could do with that money if it wasn't just walking out your door every month. That interest you are paying could be interest being paid to you if it was being invested in some sort of saving or retirement account. It should make you mad and give you the motivation to do something about it.

The second step to paying off your high credit card balances is coming up with a plan that works. There is several ways to do this but if seeing quick results and staying motivated is on your list of wants then the "Debt Snowball" is the method for you.

The term "Debt Snowball" was first coined by Dave Ramsey and is a process by which you pay off your smallest debts first as you work your way up the ladder to your targets debts. To get started use your debt spreadsheet as a reference and on another piece of paper rearrange your debts listing them from the top (smallest) to the bottom (largest). While paying the minimums on all your other cards send whatever extra money your budget can allow to that smallest balance at the top of you list. Once that's paid off roll that minimum payment and any extra money into the next smallest debt and keep working your way down the list. By the time you get to the bottom you should be able to throw a rather large chunk of money at that last debt and pay it off in short order.

The third step to becoming debt free is finding extra money to throw at those bills. You need to be in attack mode when it comes to your debts. Get a part time job delivering pizza or newspapers, have a garage sale and get rid of all that stuff that's been collecting dust around your house, or sale that stuff on eBay. Do whatever it takes to bring in extra cash and watch that debt disappear that much faster. Look at your spreadsheet and picture what an extra $1,000 a month would do.

There is one last thing you have to do if you want to know how to get out of credit card debt; you have to stick with your plan. When you first start out it will take some time to get some momentum going. There will be setbacks that you will have to work through but if you keep your eye on that debt free prize your hard work and perseverance will pay off.

Benefits Of Consumer Credit Card Debt Consolidation

2008-01-31T03:04:00.000-08:00

There are innumerable people today who are burdened with credit card and other debts and do not know how to go about making their payments. However, there are various options available to them such as debt consolidation for card, loans etc. The program helps by letting you transfer the total liability of your credit and other cards to another card which offers you not only a lower rate of interest but also just one low monthly payment. There are a few consolidating companies that not only allow the special consolidations with low rates, they also offer such transfers at 0% interest over a specific period of time. At times the consolidating companies offer such lucrative incentives so that people simply try their card.

There are also some non-profit groups, which help you by renegotiating with the creditors, thereby lowering the interest rate considerably. Another way to consolidate your arrears is to ask your friends and family to help you out of the situation. This way you not only get the necessary funds but also don't need to pay any interest. However in this case you must ensure that all the details of your agreement are written down in black and white. This is to ensure that there are no misunderstandings at a later date.

Hassle Free Payments

One of the major reasons for you to opt for consumer debit consolidation is the hassle free payment that you need to make with it. This happens as instead of making payments to a number of different card companies you make payment to only the credit card debt consolidation company.

Various Monetary Benefits

These companies would provide you with a negotiator, who will chalk out a low monthly program with your creditors for you. This would not only address your financial problems but would also get you relief from high-interest loans. This would actually mean that you can save lots of your money on interest (by exchanging an 18% card arrears for an 8% home equity loan).

It is only through the help of companies that you can put a brake on the spiraling interest of your card debts. Pave a way for your debit free future, start now.

Applying For Credit Cards Online

2008-01-30T00:37:00.000-08:00

Is Your Credit Card Information at Risk With Small Business and Retailers

2008-01-30T00:36:00.000-08:00

Get The Best Balance Transfer Credit Cards

2008-01-29T01:39:00.001-08:00

Zero interest credit cards are available on an introductory basis in order to win your business. Given that the high costs of credit can painfully restrict your opportunities because your money is not available for things that matter to you, surely it would pay to take advantage of these types of offers. The best balance transfer credit cards have the lowest balance transfer costs, the lowest fees and penalties, and the lowest introductory rate (zero is preferred) for the longest introductory period. What's more, once you have transferred your balance and enjoyed a long period of relief from interest, you don't have to settle for paying interest again. That's right. When your interest free period is about to expire you can transfer your balance yet again to another special rate introductory credit card and continue to enjoy the benefits of paying no interest.

Finding the best balance transfer credit cards can take a lot of time and mental energy, even with the plethora of findings on the internet. The quickest and easiest way to locate the best offers is to use the services of an online credit card transfer website. These sites have already done most of the work for you and have chosen what they believe to be the most valuable balance transfer deals available. Of course, they won't make the final choice for you so you will have to carefully read the terms and conditions of the cards on their sites. However, this is nowhere nearly as onerous as starting from scratch. Once you have evaluated the best balance transfer credit cards and decided on one, most of these sites also offer online applications to make things easier still.

A few of the best balance transfer credit cards websites also offer a reminder service to alert customers when their interest free period is about to expire. This service is enormously beneficial to people who have decided that they want to transfer their balance to another zero interest card before interest charges kick in. Even though you may intend to take advantage of another introductory credit card offer, it is easy to let time get away from you and find yourself making high payments again before you know it. A reminder can warn you that you need to take action as a priority if you want to continue to receive the financial benefits of not having to pay credit card interest.

Whether or not you are struggling under the weight of credit card payments, if you are paying credit card interest at all, you are paying too much. For people who are stressed financially because of credit card debt, interest free offers can provide enormous financial relief. However, even if you can comfortably make your monthly payments, you could be using the money saved on interest to further improve your financial position, help someone else or in fact for anything you wish. Credit card interest savings give you more money in your pocket every month and you can use it however you wish. Online credit card transfer services make it so easy to find and apply for the best credit card transfer credit cards in the marketplace that you could find yourself in a much better financial position tomorrow, if you act today. The best balance transfer credit cards will allow you the freedom you seek.

Credit Card Debt Help

2008-01-29T01:38:00.000-08:00

The numbers of credit card users that are constantly finding themselves mired in debts that they cannot pay off are in the thousands, and though some are lucky to climb to the top of the mountain of their debt, others are often faced with having to declare bankruptcy to find salvation. However, they should realize that credit card debt help is out there for them and it is just around the corner if they only make an effort to find the numerous options available.

Accumulated Interest Rates

A typical credit card debt can easily mount, especially when you realize that there is a considerable amount of accumulated interest that is also added to your balances, and so you need to learn how to pay down debt and thus eliminate or reduce the burden of the outstanding debts. The first debt help step that you should try is to negotiate with your credit card company and ask for a lower rate of interest, and surprisingly there are many companies that will accommodate your request, especially if you have a long standing relationship with the company.

Another help solution is to also ask your credit card company to lower late fees levied on you, and here again, a number of these companies will accommodate your request, even going so far as to totally wipe off the late fees, especially if you promise to pay the minimum outstanding amount soon. In fact, another way of getting help is to request the company to extend the payment lines. Of course, some people are not good negotiators and for them the best course to seek credit card debt help is to avail of the services of a credit card relief company to negotiate on their behalf.

Nevertheless, before asking a credit card relief company makes sure to deal with only a reputable company, because there are many unscrupulous companies out there that you need to steer clear of. Do your research in this area.

In any case, the best form of help is to ensure that you use your credit cards safely and judiciously, and not make unnecessary credit purchases that will send your debts soaring and which are beyond your budget capabilities. Another solution that you can try is to open a fresh credit card account that carries with it a lower rate of interest, and though it sounds crazy, in fact, it is not, because you can use this new card to pay off your outstanding debts, and because it has lower interest rate, will enable you to pay off your debts in a shorter time period. Just make sure you don't get further into debt with the new credit line.

iPlace Revolutionizes Consumer Information Access by Delivering Personal Credit Scores Online; Consumer Credit Scores No Longer Inaccessible

2007-09-26T02:58:00.000-07:00

"An individual's credit score plays an integral part when they apply for credit cards, mortgages and other types of credit. Unfortunately, consumers have never had direct access to their credit score," explained iPlace CEO Stu Siegel in making the announcement. "iPlace is on a mission to enable consumers to access information about themselves that they've not been able to easily access before."

Until now, the complex formula that synthesizes a consumer's credit report into a three-digit score has been kept secret and only made available to lenders. Credit score access has been a hotly contested issue between consumer advocacy groups, credit bureaus and Fair, Isaac and Co., whose FICO model is widely used by lending institutions.

Currently, there are three bills before Congress that would help enable the disclosure of credit-scoring information to consumers.
The new credit score access capability iPlace now offers through its QSpace.com site empowers consumers to learn their personal credit score and receive a detailed explanation of how the score was derived.

iPlace recently received a $5 million cash investment from Equifax (NYSE:EFX), the country's premier provider of consumer credit data. The companies have also entered into a multi-year strategic alliance to create and deliver the next generation of web-enabled credit products to businesses and consumers.

iPlace's groundbreaking credit score product is not the first time the Philadelphia-based company has enabled consumers to access their personal information. They were the first to give consumers web access to their credit reports and first to offer a web-based credit monitoring service.

About iPlace Inc.

iPlace, Inc. is a leading provider of personally-relevant information about credit, home, neighborhood and other personal assets. The company's services, data and technologies provide compelling information solutions, relationship building tools and transaction facilitation for more than 100,000 online and offline businesses.

Strategic relationships include Yahoo!, Microsoft, Intuit, Freddie Mac, Wells Fargo, Equifax, NextCard, E-Loan, Cendant, CBS Marketwatch, MemberWorks -- (Nasdaq:MBRS) which holds a significant equity stake -- among many others.

Through its family of Web products (iPlace.com, QSpace.com, ConsumerInfo.com, HomeRadar.com, eNeighborhoods.com and FreeCreditReport.com), iPlace receives approximately six million unique visitors per month.

The next generation of revenue cycle management: the revenue cycle universe is changing. Are your revenue cycle operations keeping up?

2007-09-26T02:56:00.000-07:00

In healthcare financial management, as in most other fields, the only constant is change. Over the years, our changing operational and reimbursement environments have meant that our profession has had to constantly adapt to survive, much less prosper. One constant, however, has been that the most important changes have ultimately had some impact in the revenue cycle arena. Thus, the revenue cycle has required significant attention at all levels of the organization, from CFOs and finance committee members, to the leaders directly charged with delivering revenue cycle results.
The environment of revenue cycle management has, however, changed over the past two years. For one thing, the chief revenue officer (CRO) organizational model has become more prevalent. Thus, leaders are now responsible for functional areas that were not covered by the original group of KPIs, including physician practice management and managed care contracting. Additionally, consumer-directed health care and pay for performance have become part of the landscape, and best-practice KPIs have had to change in response. With the greater financial risk to which these financing arrangements expose providers, hospitals and group practices are "turning their revenue cycles upside down." This means an increased emphasis on upstream and midstream functions of scheduling, patient access (especially preregistration), insurance verification and authorization, financial counseling, point-of-service collections, and health information management. Performance expectations for these functions, in turn, have become tighter and more demanding, in response to the increased financial pressure.

Although they may appear similar, there are considerable differences between the new generation of KPIs and those that appeared in the July 2005 issue of hfm. In particular, three entirely new sections are included here:

* Physician practice management

* Managed care contracting

* Pay for performance: clinical decision support/finance

These sections appear because many CROs have assumed responsibility for these functions, and because without a comprehensive view of all revenue cycle functions, it is difficult to obtain optimal results. Further, many of the suggested practice standards (the numeric indicators) have evolved to reflect changes since 2005, particularly technology's positive impact on worker productivity. The previous article also could not include the suggested practice processes checklist due to space limitations. Used with the numeric standards, the checklist constitutes a powerful and effective assessment tool for hospital and ambulatory care revenue cycle leaders and their CFO colleagues. If financial managers are able to answer yes to most of the questions, and the numeric indicators look good, they can have a high level of assurance that their revenue cycle operations are in good shape.

The data were drawn from a variety of authoritative sources, including:

* HFMA publications, forums, and web site

* American Health Information Management Association publications and web site

* Big-four accounting firms internal standards and client data

* McKesson internal standards and client data

* Hospital Accounts Receivable Analysis report standards

All of these standards are being met or exceeded by best-practice providers nationwide, although of course, not all at the same time.

The concluding paragraph from the July 2005 article is still relevant today: "Certainly, having the numbers alone is not enough. When coupled with a good understanding of industry standards and the process management skills needed to help achieve them, your numbers can tell a story of financial wellness, complete with key indicators trended across time. Remember: How do you know where you're going if you don't know where you've been?"

AT A GLANCE

The revenue cycle management environment is dynamic. Revenue cycle leaders are now responsible for additional functional areas and have to deal with new financing arrangements that expose the organization to greater financial risk. Financial managers can use key performance indicators and the suggested practice processes checklist to determine whether their revenue cycle operations are in good shape or need shaping up.

Total E-Commerce: Awkward Attempt at Creating Online Stores

2007-09-26T02:51:00.000-07:00

Total E-Commerce is Boomerang Software's solution for filling online store-creation gaps in FrontPage 2000. Microsoft designed its Web site creation and management tool, FrontPage 2000, for small-business and home-office users, but did not include advanced e-commerce features. Thus, third-party vendors have created plug-ins for FrontPage that make it easy to build and maintain catalogues, shopping carts, and credit-card transactions. A dozen such tools are listed on Microsoft's Web site, and most are priced at $250 and up. Total E-Commerce for FrontPage 2000 ($149.95 list) may cost less, but this doesn't make up for its inadequacies.
Total E-Commerce consists of three templates: On-line with Credit Card allows you to create a store that supports real-time credit card transactions; Off-line with Credit Card accepts credit card information so that orders can be processed offline; and On-line without Credit Card lets you send invoices by mail or e-mail rather than deal with credit cards. The installation program adds these templates to the ones that come with FrontPage. Then FrontPage automatically builds a sample store based on the template you choose. You can replace the sample text and graphics with your own text and images. Total E-Commerce also includes a secure instant-messaging client and a file-transfer program.
Once your store is created, it must be uploaded to a Web-hosting service that supports Microsoft's Active Server Pages (ASP) to ensure that your pages will be dynamically created in response to user input. The store can be accessed via a password-protected administration menu. Here you can make additions and changes to your online catalog, modify the list of shipping methods, and apply for a merchant account so you can process credit card transactions online. Expert users can save time by downloading their catalog, modifying it in Microsoft Access, and uploading it again.

Unfortunately, Total E-Commerce is lacking in the help department. You will probably have to consult the full 70-page manual to perform even basic tasks, and there is no online assistance. In fact, we couldn't get past the log-in menu illustrated on page 6-3 until we read the note about passwords on page 7-3. And the manual doesn't always steer you in the right direction; the structure of your catalog database can't be modified to add or remove fields unless you make changes in the ASP pages that the manual warns you not to alter.

We also found that Netscape users who visit your store will encounter multiple problems, including nonfunctional drop-down menus for choosing an item's size and color. When questioned, the company acknowledged these problems (although they were not aware of them) and promised that they will be addressed in future versions. Boomerang Software also claims that the sizing problem is a known Netscape-FrontPage problem and that Total E-Commerce was in turn a victim of this. Microsoft representatives, however, say that there are compatibility features designed to thwart such problems in both Netscape and Internet Explorer. Your stores will function correctly in Internet Explorer, but the supplied graphic designs are awkward and unattractive.

Dumb uses for smart ID cards - Brief Article

2007-04-25T00:01:00.000-07:00

In the wake of the 11 September terrorist attacks, the US Congress has become increasingly enamored with the idea of issuing chip-enabled national ID cards that could store all sorts of identifying data, from the carrier's birth date and Social Security number to a DNA sample.

Law enforcement agents and airport security staff could supposedly fight terrorism by using devices to scan the cards and match the card data against a centralized database with the same information to verify the cardholder's identity.

Civil rights and privacy advocates understandably went out of their minds, fearing the abuses that such a system would invite. Under a smart ID card system, the government could easily track a person's travel, purchases, political affiliations and reading material, and correlate that data into a profile for whatever purpose the police saw fit.

Australia is currently having the same debate. Elsewhere in Asia, smart national ID cards have already arrived. Malaysia began issuing smart ID cards with fingerprint data in September last year. Last month, the Macau government launched its own smart ID card plan. Meanwhile, Hong Kong is going ahead with plans to launch its own smart ID card system in mid-2003.
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In each case, these cards are expected to double as debit cards and possibly function as driver's licenses or library cards at the cardholder's request. The Hong Kong government plans to issue free digital certificates with each card in a bid to encourage online commerce.

But are smart ID cards a smart move even for countries that have already adopted them, much less for other countries considering doing the same? That depends on what you really want to use them for. The technology behind smart ID cards is pretty reliable now, and is getting better all the time. But like all technology, it's only useful if it accomplishes what you want it to do.

Solutions searching problems

For example, Hong Kong's idea of including free digital certificates with smart ID cards is a novel idea, but whether it would significantly drive e-business is debatable. Just because you have a free digital certificate doesn't mean you're going to trust it or the third-party authenticator that issued it. That will take time. That said, the ID card would serve as a good mechanism for getting them out in the public, so perhaps it's a start.

If you want to use smart ID cards to prevent atrocities like the 9/11 attacks in the US, however, forget it. The terrorists on those airplanes could have had either valid ID cards or faked ones good enough to fool airport security. Smart ID card proponents vehemently disagree with this, but smart cards can be forged. In the US, for example, people working for the state government departments that issue driver's licenses have been caught making and selling fake licenses showing the cardholder is old enough to buy beer. If you wanted to get a smart ID card for the same purpose, one key crony or easily bribed official in the local immigration bureau is possibly all you'd need to get one.

This problem also applies to just about everything else a smart ID card could be used for. Even a digital signature won't prevent someone with the right connections or skills from using a duplicate card (provided the original cardholder doesn't know it's been duplicated) or a card made for "someone" who only exists because the central database says so.

Privacy vs convenience

Of course, none of this is any reason to reject smart ID cards altogether. If we refused to use any technology with a security flaw, the Internet wouldn't exist and we'd all still do all our banking at teller windows. Smart cards work and work well for things like access to campus buildings and prepaid debit cards. I use both types in Hong Kong and mainland China, and they're convenient to use.

The idea of a national ID card may go against the grain of privacy advocates, but in countries that already have national ID cards (which, incidentally, outnumber those that don't) it's less of a concern. The convenience factor alone will probably drive acceptance of smart ID cards for certain things. People routinely give up privacy for convenience or security, which is why we hand out our ID numbers to service providers we want to do business with, or let airport security staff X-ray our bags.

Sure, the potential for data abuse exists, but that's true today with credit card data and existing analog ID cards. That doesn't make it right, but rather than a ban on smart ID cards, what we really need are enforceable privacy policies that require transparent data processing, prohibit unauthorized third-party sales and allow people to access their own files.

Cyber alert! These simple tools can keep your business safe from payment fraud

2007-04-25T00:00:00.000-07:00

E-TAILERS BEWARE: Internet fraud is alive and well in cyberspace. According to a November 2004 survey about online payment fraud conducted by CyberSource, a Mountain View, California, provider of electronic payment and fraud-prevention solutions, U.S. merchants expected to lose an estimated $2.6 billion to online fraud in 2004, $700 million more than in 2003.

Hardest hit, according to the survey, are midsize companies--those with annual online revenues between $500,000 and $5 million. This group said it expected to lose up to 2.5 percent of online sales to fraud, compared to 1.9 percent in 2003. The reason for this increase is twofold, according to Bruce Cundiff, an analyst at Jupitermedia Corp. "One is the increasing organization among the fraudster community that allows for more efficient fraud perpetration," he says. "In addition, larger businesses tend to be among the first to implement more stringent security measures. Fraudsters will always choose the path of least resistance." Smaller businesses with out sufficient fraud protection mechanisms in place risk being exploited.

You can fight back against payment fraud using a basic fraud-detection service, such as an address verification system, which matches street numbers on a customer's billing address with the address on file with the credit card company. A mismatch may indicate that the person making the transaction is not authorized to use the card.

Another prevention method uses credit card verification codes--the four digits printed on the front of an American Express card or the three digits on the back of a Visa or MasterCard. Buyers enter this code when making purchases, so in theory, buyers need more than just the card number to buy online; they need the actual card to read the code.
Utility Safeguard LLC , a Southampton, Pennsylvania, company that sells construction supplies to industrial companies, distributors and consumers online, has found these solutions to be very effective. Last year, the company had sales of $1.5 million and is on target to reach $3 million in sales this year. Utility Safeguard uses a fraud-detection service called Payflow Pro from VeriSign. The service is integrated into its NetSuite e-commerce software platform.

With this solution, a new customer cannot check out until he or she has entered all the proper credit card information and the card has been cleared. "I have not had one bad credit card transaction since I began using the system in 2002," says founder Jim Graham, 43, who implemented the system.

Many experts, however, say that address and card verification systems are only a first step. Merchants selling valuable products that are easily resold, such as electronics, should also invest in the advanced fraud protection services offered by gateway providers. These services generally use fraud filters to screen for suspicious activity in real time. They cost an additional $30 to $1,500 per month, depending on the level of customization, along with additional setup and transaction fees.

Another logical way to protect your business is to make sure the freight carrier obtains a signature before delivering the product. Graham also insists international customers prepay through wire transfer. Says Graham, "We do not take foreign credit cards because if there is a problem [overseas], it's hard to get your money back."

Smart Design

Before implementing fraud-protection services, however, web merchants should design websites that are more fraud-resistant, says Vic Dolcourt, senior product manager for risk products at CyberSource. He recommends designing the checkout process so that after a consumer presses the "buy" button, the "back" button on the web browser no longer responds. Also, thank the customer for the order without indicating whether the card has been accepted. Says Dolcourt, "This way, the site doesn't serve as a tester for fraudulent account numbers."

Cheap frills - online brokers and what services and commissions they offer the investor - includes information of commissions and services

2007-04-24T23:59:00.001-07:00

Online brokers were heavily engaged in a game of one-upmanship last year, testing how low they could go. The commission-slashing seems to have settled down for now--at rates unimaginable just a couple of years ago. Commissions at the top ten online firms have plummeted from an average of $32.19 early last year to just $15.77 early this year, according to an analysis by Piper Jaffray.

But even that's high for our winner this year. The cheapest guy on the Net, Brown & Co., will execute your market order for a mere $5.

Although low commissions Create the buzz about online brokers, it's not the only thing to consider when choosing and using one. A firm that's fine for active stock traders who want to do their own research may not fit the needs of buy-and-hold investors who want to keep stocks and funds in the same account or for investors who trade exclusively in their IRAs. That's why we didn't crown a "best overall" among the 16 online brokers in our survey. Instead, we picked the winner in each of seven different categories---not only for commissions but also for fees, margin rates, products and services, mutual funds, IRAs and investor tools.

Because there are more than 80 (and counting) online brokers, we left out the small niche players and brand new firms--some of which are likely to be gobbled up by banks and larger brokers. We also left out discount brokers that haven't made a big foray onto the Internet.
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BROWN BEST FOR COMMISSIONS

At Brown, $5 gets you a market order for up to 5,000 shares of any stock listed on a major exchange or on Nasdaq. Add $10 for a limit order and Brown's $15 combo is the lowest for any firm on our list--but only slightly lower than Suretrade's $15.90 for a market and limit order on up to 5,000 shares. George Brown, head of the company that bears his name, keeps costs low by limiting customer perks; for example, his is the only firm that doesn't offer even the most basic research tools on its Web site. (Evidently, overhead is low, too: When we called for an interview, he answered his own phone.) Brown says business has increased 50% since the firm lowered its commission to $5 in March. "But I don't plan on reducing it any more," he says.

The highest trading costs in our survey are at Accutrade and Charles Schwab: Each firm charges $29.95 for each market or limit order up to 1,000 shares.

BEYOND THE LIST PRICE. Ameritrade and Web Street Securities do not set a limit on the number of shares covered by the basic commission, but elsewhere, high rollers can get nicked by additional charges for large trades. The other firms charge for each share beyond the limit, except Datek, which charges an additional basic commission for every 5,000 shares.

Depending on how it is applied, that charge of 1 or 2 cents per share (3 cents in Schwab's case) can sabotage the rates you signed on for. Discover Brokerage Direct and Waterhouse Securities recompute the entire order at the excess share price. So at Waterhouse, for example, a $12 market order for up to 5,000 shares jumps to $50.01 for 5,001 shares. And at E*Trade, the extra commission is figured on the whole order and then added to the basic commission (hiking the cost of a 5,001-share market order from $14.95 to $64.96).

Options traders are out of luck at American Express Financial Direct and Datek. The other brokers trade options at minimum commissions ranging from $14.95 plus $1.75 per contract at Web Street to $40 at DLJDirect.

BEST BETS FOR BONDS. Commissions for buying one Treasury bill range from $25 at Web Street to $60 at American Express. For ten NYSE-listed corporate bonds, commissions range from zero at DLJDirect to $50 at Accutrade, E*Trade, Quick & Reilly and Suretrade. Ameritrade, Bull & Bear, Datek, Discover, National Discount Brokers (NDB) and Waterhouse sell neither Treasuries nor corporates online. American Express and Fidelity will buy Treasuries for you but not corporate bonds.

BULL & BEAR BEST FOR OTHER FEES

The brokers in our survey don't go slap-happy with extra fees. Bull & Bear gets the laurels in this category for applying only one fee out of the seven we checked: $15 for an outgoing wire transfer. Of the other firms that charge only one of the seven fees, Waterhouse charges $25 for the same service; Datek charges $50 to issue a stock certificate--the highest fee for that service, which many online investors aren't concerned about. American Express and E*Trade charge five of the seven fees.

Manufacturer, Researchers Develop Fiber-Optic Fraud Buster - Brief Article

2007-04-24T23:57:00.000-07:00

U.K. optical lens vendor Optical Antenna Solutions, working in conjunction with researchers at Warwick University, developed and is trialing an optical device it says will help reduce credit-card fraud. The new optical lens and antenna reportedly can capture data signals from wireless phones more efficiently, over greater distances and at greater capacities. When wireless subscribers are ready to make purchases using their handsets and credit card accounts, the antennas, inserted in mobile phones to read as part of the infrared port, will be pointed toward cash registers, where similar infrared ports are located. Personal security codes are then entered into the phones, at which point the OAS antennas capture light signals carrying the data required to authorize the transactions. When the information is verified, handshakes take place, completing the purchases. South Korea is testing the system, which also will be trialed in Japan, the United Kingdom and the United States

Majority of European shoppers motivated by price to buy online, says study - Internet/Web/Online Service Information

2007-04-13T04:44:00.003-07:00

US research company Jupiter Communications and its European survey provider Ipsos have released a new study about the attitudes and behaviour of European Internet users.

The survey, which questioned 19,000 households in France, Germany, Britain and the Scandinavian countries, reveals that 57% of online shoppers are motivated by better prices while just 42% are motivated by better security for their credit cards and/or personal information to purchase products online.

Among Scandinavian shoppers the importance of better prices over increased security seems to be even more marked with 62% citing better prices compared to 50% in France, Germany and the UK.

The study also shows that Scandinavian users more frequently conduct information-related activities. Almost half (49%) of the Scandinavian respondents stated that they had used the Internet to investigate travel arrangements compared to just 24% in Britain, France and Germany.
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In addition, 40% of the Scandinavians had visited web sites and online channels about health or medicine and 26% had conducted online personal banking. The corresponding figures for the three other countries were 17% and 14%.

The invisible library: paradox of the global information infrastructure - Challenges faced by libraries and proposed research designs

2007-04-13T04:44:00.001-07:00

LIBRARIES ARE AN ESSENTIAL COMPONENT of a nation's information infrastructure, yet often they are invisible to their users and other stakeholders. In the context of this special issue, the paper presents four challenges faced by libraries and proposes research designs to address each of them. The four challenges involve: 1. invisible infrastructure, 2. content and collections, 3. preservation and access, and 4. institutional boundaries. I propose a mixture of research methods that includes surveys, case studies, documentary analyses, and policy analyses. Only with a better understanding of these challenges can libraries find their best fit in the information infrastructure of our networked world.

INTRODUCTION

Computer and communication networks now encircle the globe. Despite the oft-repeated claim that half the world's population has never made a telephone call, we receive daily television, radio, and newspaper reports filed via satellite from Afghanistan, one of the planet's least-developed countries. Many of these reports become available almost immediately on the Internet. Information technologies have become ubiquitous in the developed world and widely available elsewhere.
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An increasing proportion of communication and commerce takes place via computer networks. Friends, family, colleagues, and strangers rely on e-mail to maintain relationships and to transact business. Most of the activities of writing, editing, and publishing involve computers and networks regardless of whether the final product appears online or on paper, making "electronic publishing" a misnomer. Even in the "old economy," orders are placed, invoices are paid, and credit cards are verified and charged via computer networks. Individuals turn to the Internet as a primary source for all sorts of information--health, hobbies, homework, news, shopping, music, games, research, and general curiosity.

Libraries are but one of many institutions that could no longer function without computer networks, at least in the developed world. Libraries depend upon computer networks as a means to provide access to local and remote information resources. While physical materials continue to form the core of most library collections, fewer and fewer services require that users physically enter the library building. Even artifacts such as books can be ordered online for delivery to one's home or office.

A paradox of the networked world is that as libraries become more embedded in the information infrastructure of universities, communities, governments, corporations, and other entities, the less visible they may become to their users, funders, and policy-makers. Libraries must be integral components of the information infrastructure of their organizations if they are to provide the most effective, efficient, and appropriate services to their user communities. Independence and isolation are not suitable alternatives.

Historically, libraries have played key roles in information-oriented societies. Yet today, some of their roles are being duplicated by other public institutions such as archives and museums and by commercial providers of content and services. Individuals and organizations now have many information sources alternative to those provided by libraries, which would suggest that the role of libraries is shrinking. However, libraries are expanding to include a wider array of services, such as providing digital libraries and support for distance learning. Despite this broader scope, libraries exist in a competitive environment, facing greater demands for services and often with fewer resources to meet those demands.

Libraries can and should play key roles in the emerging global information infrastructure. To do so, they must address a number of complex challenges. Research on these challenges will assist libraries in identifying and accomplishing their roles in a global information infrastructure. The four challenges for libraries are introduced in a recent book (Borgman, 2000). Here I extend and update those issues, frame them as research questions, and suggest methods to explore them.

INFORMATION INFRASTRUCTURE

A first step in exploring the role of libraries in a global information infrastructure is to consider what is meant by "infrastructure." Familiar phrases such as "national information infrastructure" and "global information infrastructure" are rarely accompanied by clear definitions of the underlying concepts. Star and Ruhleder (1996) were among the first to describe infrastructure as a social and technical construct. Their eight dimensions can be paraphrased as follows: An infrastructure is embedded in other structures, social arrangements, and technologies. It is transparent, in that it invisibly supports tasks. Its reach or scope may be spatial or temporal, in that it reaches beyond a single event or a single site of practice. Infrastructure is learned as part of membership of an organization or group. It is linked with conventions of practice of day-to-day work. Infrastructure is the embodiment of standards, so that other tools and infrastructures can interconnect in a standardized way. It builds upon an installed base, inheriting both strengths and limitations from that base. And infrastructure becomes visible upon breakdown, in that we are most aware of it when it fails to work--when the server is down, the electrical power grid fails, or the highway bridge collapses.

Merchants Clued In To Online Fraud - Survey - Internet/Web/Online Service Information

2007-04-13T04:43:00.001-07:00

A survey expected to be released soon reportedly found that retailers are more likely to say that online fraud involving credit cards is a problem, even though losses being absorbed by merchants may be down slightly from a year ago.

According to the Wall Street Journal, the survey conducted for CyberSource Corp. by Mindwave Research found that 83 percent of merchants who sell online say fraud is a problem, up from 75 percent who said the same thing a year ago. However, the companies interviewed estimated that they lose, on average, 4 percent of online revenue to credit-card fraud, down from 5 percent a year ago.

Still, the survey of 132 companies, which the Wall Street Journal said including pure e-tailers and clicks-and-mortar operations, discovered that while online shopping accounts for just 5 percent of all credit-card transactions, it was the source of 50 percent of all fraud involving cards. The survey also found that 28 percent of merchants surveyed were not aware that they were responsible for the losses generated by online credit-card fraud.

Leading Canadian Card Provider Selects Corillian for Next-Generation Online Credit Card Management Solution; Corillian Credit Card Management to Provi

2007-04-13T04:42:00.000-07:00

PORTLAND, Ore. -- Corillian Corp. (NASDAQ: CORI), the top provider of online banking, payment and security solutions to the financial services industry, today announced that Credit Union Electronic Transaction Services (CUETS), a provider of MasterCard(R) issuing and acquiring products and services to over 450 credit unions, caisses populaires and other organizations throughout Canada, has selected Corillian Credit Card Management as its foundation for a next-generation online credit card management solution.

Through Corillian Credit Card Management, CUETS' clients will have a feature-rich solution to deliver new and innovative online services to their members and customers. Included in the solution will be eStatements and Alerts modules to enhance the self-service capabilities of the online credit card site. End users will be able to view all of their account information in real-time, set up alerts to be proactively notified of new changes to their accounts and store up to 12 months of statement history. Also, the flexibility of Corillian Credit Card Management will allow each affiliate organization to create a unique brand and navigation to each site to create user loyalty.

"More and more consumers are turning to the Internet to take control of managing their financial accounts," said Alex Hart, president and CEO of Corillian. "Financial institutions and other organizations are looking for ways to take advantage of this growing adoption by delivering compelling online services and a unique online experience to their users. Corillian Credit Card Management incorporates industry-leading functionality and usability best practices to enable organizations like CUETS to be at the forefront of online financial services and set themselves and their clients apart from the competition."

cUETS' CIO Tom Kindred noted that the partnership with Corillian will also help CUETS' clients create greater brand recognition and become more competitive in the online channel. "Our mission is to provide world-class products and services to our clients, and the online channel is of strategic importance to us and our clients," Kindred said. "Corillian Credit Card Management will help us take our online services to the next level and help our clients provide a superior online experience to their members and customers."

Corillian Credit Card Management will seamlessly interface in real-time with CUETS' back-end systems, providing unparalleled ease-of-use. Key features and benefits available in Corillian Credit Card Management include:

--Real-Time Access: Provides real-time access to balances, current and historical transactions, downloading transactions, payment due dates, credit limits, cash advance limits, finance charges and rewards programs.

--eStatements: Offers the cardholders the convenience of receiving an electronic version of their monthly statement online as well as the ability to sort and categorize transactions. Along with the suppression of paper printing, online administrative tools are offered to manage exception processing.

--Alerts: Offers increased cardholder loyalty by delivering email message notifications when account or specific transactional events such as credit limit reached or payment is due events are triggered.

--Self-Service Functionality: Offers a comprehensive range of self-service functionality, including the ability to request credit limit changes, replace or add cards, change addresses, secure online inquiries, dispute transactions, order checks and change passwords.

About Corillian Corporation

Corillian is the market leader of online banking, payment and security solutions to the financial services industry. With 29 of the top 100 U.S. banks and 21 of the top 100 U.S. credit unions as customers, Corillian serves over 30 million online banking users. Corillian provides the most flexible, scalable and secure set of online banking applications across multiple lines of business, integrating best-practice functionality developed for some of the most innovative financial institutions in the world. Corillian's fraud prevention solutions use Preemptive Forensics(TM) to protect web sites from phishers, hackers, and fraudsters. Corillian's strong authentication solution provides a low-cost solution for multi-factor authentication while maintaining high user satisfaction. Corillian features integrated applications across Consumer Banking, Small Business Banking, Wealth Management, Credit Card Management, and Corporate Cash Management, as well as enterprise wide solutions, including Fraud Detection, Payments Warehouse, Alerts, eStatements, and OFX. Empowered by Corillian solutions

POCKET MONEY: HELP! MY CREDIT CARDS NEED A GUARDIAN ANGEL

2007-04-13T04:40:00.000-07:00

PERUSING THE pages of amazon.co.uk for something to read (what else are you to do when eating lunch al desko?), I came across a book called Behind with the Mortgage and Living off Plastic (subtitled 'Charge up your life, not your credit card') by Lynette Allen.

Now, that sounds like the kind of information I need, so although it isn't published until 13 October, I used my powerful position as hack for hire to get an early copy " for your benefit, you understand, as much as mine.

It's a chunky little tome with plenty of pink on the cover (why do publishers think all women flock to fuchsia?) and the author pictured in a ballgown surrounded by glossy carrier-bags. Not a scenario I've ever found myself in, but I get the message, which is not so subliminally screaming: 'You are a spendaholic!' With a sky- high stack of credit-card statements and impending urgent winter- coats-for-children crisis, I think I should investigate.

Using Lynette's advice to close my eyes, picture what I'm worried about, then flick the pages randomly " the 'logic' being that it will fall open just where I need it most " I alight on a section titled Divine Intervention.
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Paraphrasing wildly, what follows is the story of Julia, up to her ears in debt and in crisis. Out of the blue, a friend calls and asks her how much money she would need to clear her debts. A great deal, Julia admits. The friend, it turns out, has been left a fortune, and will be only too happy to oblige. Julia, you see, needed an angel to give her a sign and, wings flapping, the angel appeared down a BT line.

If you are gagging on your Earl Grey at this heartwarming anecdote, you're like me. It's the kind of empowerment crap that fills acres of space in bookshops (which is why I was online rather than in Borders, where new age is the new everything).

But everyone deserves a fair chance, so I dived back in. In fact, little in the book is about finances, but there is a handy quiz for women to work out what kind of spender they are. Here's a sample: 'You've had the day from hell. You're leaving the office, hungry and cold, when you realise there's no food in the house. You nip into the nearest supermarket with the intention of buying dinner, but mysteriously find yourself in the clothes section, choosing a new pair of shoes to make yourself feel better " after all, you deserve it! a) Yes, I would do that; b) I have been known to do that occasionally; c) No, I wouldn't do that.'

Putting aside questions of how many neighbourhood supermarkets sell shoes, and whether any footwear bought there would really make you feel better, check out the advice. If you had pleaded guilty to this and the other rather obvious 'splurge or not' scenarios, you have an unmet emotional need that you are filling with purchases. I don't know about you, but the pair of shoes I bought yesterday (OK, it's a fair cop) were not an attempt to fill an emotional void, but the solution to the 'what shall I wear to Clare's wedding?' question.

Sorry, Lynette. I'm sure you're a very successful life coach and all, but I'd rather read the wise words of the experts on these very pages if I really want to sort out my credit cards.

And my advice to you, dear reader, if you like the thoughtful approach to making life better, is to read Lesley Garner's superb Everything I've Ever Done That Worked (Hay House, pounds 10), which has chapters about all areas of life that might be worrying you, including 'Make Friends with Money'. Her soundbite? 'It's always better to make it than take it.'

She has another section called 'Running Away Money', which isn't about the wallet-draining that seems to happen when I'm not looking. It's about keeping a little aside for whatever life throws at you " and that's the best advice of all.

Handy wallet holds iPod Nanos, credit cards, cash

2007-04-05T23:51:00.002-07:00

TO OUR READERS: You know you want it. But do you know where to get it? This column aims to help. Watch this space weekly for information on all things timely, trendy, useful or unusual.

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.

A novel credit card scam: exercising a little due diligence, an internal auditor uncovers an attempt by a former employee to defraud the company

2007-04-05T23:51:00.001-07:00

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.

Smart credit card use - Brief Article

2007-04-03T23:55:00.001-07:00

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."

Credit card and payment solutions: new benefits for Latin businesses and consumers

2007-04-03T23:54:00.002-07:00

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.

Online Lenders: Bidding for You - Internet bids for mortgages

2007-04-03T23:54:00.001-07:00

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.

Password Profiler Secures and Automates Online Passwords and Log-Ons

2007-04-03T23:53:00.000-07:00

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.

Online age verification technology challenges shipping opponents

2007-04-03T23:52:00.000-07:00

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.

Pay Station: Sony Touts New Credit Card Online - Brief Article

2007-04-03T23:50:00.000-07:00

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,"

They've Got Your Number - credit card theft - Industry Trend or Event

2007-03-29T05:06:00.000-07:00

FRAUD: The bad guys want your customers' credit card information. But there are things you can do to tighten security on your site.

It was an e-retailer's nightmare. When Bibliofind, an Amazon.com-owned online shop that hooks up buyers with used-book sellers, was hacked this past February, the proprietors thought only their homepage had been defaced. Then the company looked at its server logs. It found that a rogue had been accessing customer data files since the previous October, exposing the credit card numbers of 98,000 Bibliofind buyers.

While e-commerce sites publicly pooh-pooh the threat of credit card theft, it's a real and far-reaching problem. A recent report by the San Francisco-based Computer Security Institute found that 85 percent of e-commerce and government sites polled experienced a security breach in the past year. Thirteen percent reported that customers' credit card numbers were rendered accessible.

The reality is that "no system is 100 percent secure," says Chris Wysopal, director of research and development for online-security firm @stake. But you can minimize the threat of theft by taking a few precautions.

Hackers usually break into sites through holes in Web server software. Hundreds of these holes are discovered every year. To keep track of them, many sites use e-mail lists like Bugtraq. That's where, for example, you would have learned about the 32nd hole discovered in Microsoft's Windows 2000 Internet Information Server. Technically known as a "critical buffer overflow problem," the Windows design flaw could let a malicious hacker take control of an entire Web server.

Once hackers break into your Web server, they can satisfy themselves simply by fiddling with your homepage. To do real damage -- to steal credit card numbers, for instance -- they have to get beyond the Web server and into the box that houses your customer database. Assuming your IT department is on the ball, that means breaking through a firewall. There are a raft of hardware and software tools -- Check Point Firewall-1, Cisco Pi, PGP Gauntlet and Symantec Raptor are a few examples -- that protect your network by admitting only approved users and applications.

But there's a chink in this armor: Firewalls on e-commerce sites must be configured to admit data traffic from your Web server. If they weren't, none of the transactions from that server could get through to your site's back end. So if a hacker finds a hole that lets him control your Web server, he could also get through your firewall.

That's why your site should encrypt sensitive data. The simplest way is by configuring your Web server to use the secure sockets layer, or SSL. (If your IT people don't know how to do this, get some new IT people.) SSL encrypts incoming and outgoing data streams, hiding them from hackers who've penetrated your Web server or who are simply sniffing at data traffic from your ISP or Web hosting service.

You might also consider encrypting your customer database using specialized hardware or software. But that, says Ric Steinberger, technical director at Security Portal, a security news site, is "like putting an extra fence around Fort Knox." If your OS is patched, you've got a good firewall and you're using SSL, that should be enough to stop most hacks.

Unfortunately, few sites bother to implement all these precautions. That's why hackers are usually caught after the fact, when system operators have had a chance to notice unusual activity in network logs. Companies like Cisco, ISS and NFR all make intrusion detection software - priced anywhere from $2,000 to $25,000 - to alert you if anything odd happens.

If your customer data is compromised, you have little choice but to admit it as quickly as possible. That's what Bibliofind did. The company took the site down and sent e-mail to customers whose cards had been exposed. Sure, it was a public relations nightmare. But at that point, there's not much else you can do.

Philippine Bank Entices Online Buyers With E-Credit - Company Business and Marketing

2007-03-29T05:05:00.000-07:00

The Bank of the Philippine Islands (BPI), the nation's second largest bank, recently unveiled the country's first virtual credit card system called the BPI E-Credit targeted to security-conscious customers making frequent purchases on the Internet.

Josephine Ocampo, BPI's president for card banking division said that E-Credit is an extended virtual account for holders of BPI MasterCard. It would allow its customers to make Internet purchases without using physical cards.

The E-Credit system, which is exclusive to BPI MasterCard users, creates an account for card owners and would automatically grant a 50 percent credit limit for purchases made on the Web, based on customers' existing credit line. A separate account number and card verification code (CVC) for the E-Credit card would be issued to the holder of the physical MasterCard.

The account number and CVC of the E-Credit card then would be entered into the order field of a merchant Web site, instead of the information on the customer's physical MasterCard

An applicant for the E-Credit can choose to place any desired amount into the E-Credit account, which could range between 5,000 pesos ($94) to a maximum of 50,000 pesos ($936) at present. Ocampo said this particular option would help manage the buying behavior of cardholders. He said though the maximum amount would eventually be raised depending on the future needs of clients.

"The customer is given all the freedom and convenience needed for buying items online, but it could also discourage compulsive buying," she quipped.

The same self-restraining method also secures accounts of cardholders against credit card hackers since the use of the E-Credit card numbers are only exclusive to Internet purchases. "There is no way the numbers could be used for traditional purchases that are coursed through regular stores," Ocampo said.

Whenever a purchase has been made using E-Credit, the amount will be deducted from its physical MasterCard's online counterpart. The deduction would then be reflected on the MasterCard holder's monthly statement of account.

Nevertheless, customers could also check their accounts for both MasterCard and E-Credit through BPI Express Online (www.bpiexpressonline.com), BPI's Web site launched early this year to help customers check their savings accounts and keep track of their credit line in real time.

Ocampo added that the whole system would be fully operational by the end of the month, though applications can already be made through all of their branches or via the Web. Initially, BPI is aiming to convince around half of its 150,000 BPI MasterCard users to also get E-Credit card accounts by the end of the year.

"We also hope to get the same number for our Expressnet ATM users until the early part of next year," she said.

Ocampo predicted that Filipinos' use of the Internet for online purchasing would gradually increase within the next two years, despite the low usage of the Internet in the Philippines, which reportedly counts only about 2 million users.

"We're helping to promote the future of online purchasing by providing the service now," Ocampo said.

William Reyes, BPI MasterCard product manager added that the launching of E-Credit also coincides with the bank's upcoming promotions for the next four months, the first two months of which are often considered as early preparation for the Yuletide season.

New Online Job Scam

2007-03-29T05:03:00.000-07:00

In these tough economic times, many of us are looking for work. But don't let your quest for employment suck you into the innumerable "work at home" scams riddling the Internet. In particular, watch out for a new trick that targets PayPal users. We've had several reports lately that describe a similar scenario: An online ad seeks to hire people to use their own PayPal accounts to facilitate sales for customers who allegedly have no other way to transfer funds.

Here's a typical, but real, example reported to us in March. The victim answered a Monster.com job ad like the one in Figure 1, posted by a company called Insync Soft that claimed to be based in Prague, in the Czech Republic. Looking for people with experience using PayPal, the company promised to pay 10% and up on any transactions the person facilitated. (Monster.com has since removed the ad.)

In a follow up e-mail, Insync Soft representative William Lesoe claimed PayPal wasn't allowed in his country (it's not), so the company needed someone from the outside to act as a middleman to receive funds from customers buying software. But—and here's the catch—the job seeker (that is, the victim) had to set up and use his own PayPal account and to send Insync Soft payment and log-on information. And he had to use his own credit card and bank account to guarantee the PayPal account.

You can probably guess the rest of the story. The victim receives credit card payments from "customers" to the PayPal account, then sends the money out of the country by an untraceable Western Union cash transaction. As with the infamous Nigerian scams, the victim is supposed to keep a percentage of the money.

But there's no happy ending. Once the money has been withdrawn and sent, there are charge-backs from the credit card companies because the credit cards were stolen. PayPal returns the money to the credit card company and goes after the account holder for the money. The victim is left to cover the charge-backs out of his own pocket. The customers, of course, are bogus.

We spoke with a woman named Gloria in the account resolution department at PayPal to see what a victim can do. Not much, it turns out, because the victim agreed to be the primary company or person on the PayPal account. And PayPal doesn't allow its account holders to act as intermediaries for others.

Charge-backs usually occur when the credit card company contests a charge because of nonshipment, misrepresentation, or occasionally fraud. The credit card company asks PayPal for the money, who in turn asks the account owner. PayPal will go to the boards to defend its members against charge-backs, but only if there's a paper trail showing that products were shipped or services rendered. In this scam, since the victim is acting as a straw man and not actually shipping anything, PayPal won't fight the charge-backs. These are empty transactions, so the victim has no recourse.

Be wary of variations on this theme. We also received reports of companies called Ross Soft (owned by a Kevin Lesoe) and Eastern Exchange advertising on job boards. Both promised great rewards for PayPal work.

A novel credit card scam: exercising a little due diligence, an internal auditor uncovers an attempt by a former employee to defraud the company

2007-03-23T06:08:00.001-07:00

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.

To make this determination, Jennifer accessed Larry's corporate credit card records online and retrieved his expense reports from the accounts payable file room. The expense reports confirmed that Larry had not expensed the conference fee, but when Jennifer looked at his credit card statement, she saw a couple of odd items.

First, the most recent statement indicated that the former ABC executive had made four payments to his credit card in one month. Second, the statement was two pages long, and Jennifer knew that Larry rarely traveled for business. She scanned the charges and noted that most of them were from local vendors. In addition, none of the items looked like business charges. The charges included dinners at local restaurants, department and grocery store charges, and airline tickets for Larry and his wife that Jennifer knew were for their recent vacation.

Out of curiosity, Jennifer queried the company's checks online to see if any of the payments made on Larry's Visa account matched the dollar amounts of checks written by ABC. Sure enough, she found that all four payments made to Larry's credit card that month equaled amounts on checks that the company had written to Visa. Jennifer increased the scope of her search and observed that every payment posted to Larry's corporate credit card over the previous 12 months was from a check written by the company. She also noticed that of the $88,000 in charges on Larry's card over that time frame, none was for business expenses.

Jennifer printed copies of all of the checks and noted that, although Visa was listed as the payee on all of them, Larry's corporate credit card account number was handwritten on each check. Jennifer approached the director of internal auditing as well as Larry's former manager and requested an investigation into the matter.

While working for ABC, Larry was in charge of making sure that the organization paid delinquent balances on the corporate credit cards of people who had left the company. ABC had an arrangement with the credit card company that it would guarantee payment for certain employees if those employees did not pay the balances on their accounts. Once a month, Larry would provide accounts payable with a list of delinquent accounts on guaranteed cards, and accounts payable would cut the check to the credit card company.

However, on the bottom of every check request in Larry's last year of employment, he had written, "Please deliver the check to me." Typically, accounts payable would mail the check directly to the credit card company, but because accounts payable knew that Larry maintained a relationship with the credit card company, they adhered to his request and delivered the checks to him. When Larry received a check, he would write his own account number on the check, and the bank would apply the payment to Larry's credit card.

Larry did not need to make sure that the delinquent credit card owners listed on his spreadsheet paid their balances, because he had fabricated the delinquency list that he provided to accounts payable. In many cases, the employees with the so-called delinquent balances had left the organization long before, and they had paid their balances in full before departing.

So, where were the control breakdowns? First, Larry had sole authority over the credit card function. He managed the corporate credit cards, reviewed the delinquent accounts, had access to the employee statements, and dealt with the bank's account managers. No one reviewed his work. As soon as accounts payable walked the checks down to his office, he had all he needed to perpetrate the fraud.

The second breakdown was that the accounts payable clerk walked the checks over to Larry. Although not necessarily right, it is understandable that accounts payable would not have the time to audit Larry's delinquency list. After all, accounts payable was processing more than 1,000 checks per week with a staff of six. However, it was unacceptable for the clerk to deliver the check directly to Larry. The check should have gone from accounts payable to the vendor. The vendor invoice--or delinquency data in this case--should have contained all of the pertinent information to allow accounts payable to appropriately route the check.

Bye-Bye Credit Cards, Hello Digital Money - electronic fund transfer - Brief Article

2007-03-23T06:07:00.001-07:00

Cash and credit cards soon may give way to digital money--currency that can be sent over computer networks in the form of digital information. "Shopping on the Internet has prompted the development of a new kind of money," Vary Coates and Steven Bonorris, who made a study of digital money for the Institute of Technology Assessment in Washington, D.C., told the World Future Society, Bethesda, Md. They explained that it may take the form of electronic tokens stored on a computer's hard drive or on "smart" cards that can be loaded with various monetary values.

Millicents is a kind of electronic scrip that carries a signed message, a serial number, and an expiration date. Customers receive millicents from brokers and can then spend it using their modems.

CyberCoins exist as digital tokens that can be purchased from a bank and exchanged for online products that cost less than $10.

CyberCash is a system that utilizes software to create a gateway between the Internet and a credit card company's authorization network. A cybercash system keeps records of transactions and encrypts your payments.

"No one is yet sure what kind of electronic currency, if any, will most appeal to consumers," Coates and Bonorris indicated. Some enthusiasts want digital money to be just like paper money. They want to be able to "make change" electronically, have their new currency widely accepted, and have easy access to funds via computer, laptop, and smart cards. Others want electronic money to have customized features that paper money lacks. Some parents, for example, would like to give their children "conditional" digital allowances that couldn't be spent on cigarettes or liquor.

Some consumers already are using digital money. First Virtual Bank began offering it in 1994 and now has 150,000 accounts. Most Internet merchants, though, are waiting to see which of the competing electronic systems will win out in the marketplace

Online Shoppers Can Kiss Credit Cards Goodbye 11/19/99 - Cash Technologies joins with MP3.com and Sensar to accept ATM cards to buy music products - C

2007-03-23T06:06:00.002-07:00

LOS ANGELES, CALIFORNIA, U.S.A., 1999 NOV 19 (NB). Shopping online could become much easier for people without credit cards under a new Internet automatic teller machine plan developed by Cash Technologies Inc. [NASDAQ:CHNG].

According to Cash Technologies Chairman and CEO Bruce Korman, credit cards inhibit much of the potential in the e-commerce market. "Today nearly half of the US population, and one-fourth of those who qualify, do not have credit cards," he said.

In order to turn these cardless customers into online spenders, Cash Technologies today announced that it has reached agreements with MP3.com, [NASDAQ:MPPP], an online digital music Website, and privately held Sensar Inc., a manufacturer of "iris recognition products," to begin a pilot project using ATM cards to purchase music products at MP3's Website.

MP3 customers participating in the pilot project will be able to use their regular bank ATM card to shop securely over the Internet at MP3's Website. The use of Sensar's iris camera attached to the customer's PC will eliminate the need to send personal ID numbers via the Internet, removing the key stumbling block that has prevented the use of ATM cards on the Internet.

Korman also pointed out another possible advantage that this system has over credit cards, saying that "credit card and password fraud has victimized millions of online shoppers."

The pilot project for MP3 customers will begin during the first quarter of 2000. Participating customers will enroll at an iris- enabled ATM supplied by Diebold Inc. Thereafter, when the customer is ready to purchase products from MP3's Website, a small hand-held camera manufactured by Sensar, which plugs into the customer's PC, will take a picture of his or her iris and return the encoded information to MP3 over the Internet.

MP3 in turn will pass the information on to Cash Technologies' EMMA system to authenticate the customer and process the transaction through the ATM networks.

An approval is returned by EMMA to MP3 within seconds, the customer then can receive the requested MP3 product in the usual way. According to Cash Technologies, as far as the customer is concerned, the process is virtually as fast and as simple as using an ATM.

MP3 is particularly pleased with the pilot project's potential, since, according to MP3.com President Robin Richards, "Credit card penetration is particularly low amongst the teenage population despite their tremendous buying power."

Sensar anticipates that eventually the inexpensive hand-held cameras, which also can double as "Web cams" or video conferencing cameras, could be distributed by banks, e-commerce providers, online securities trading firms and even built into computer monitors.

Korman told Newsbytes that initially, Cash Technologies would pay for the cost of the cameras attached to the individual PCs. In the future, he expectes that the cameras would be available at virtually no charge, the cost being born by the online merchants who want to reduce credit card fraud at their sites. Korman also said that if the cameras were not made available for free, he expects the retail cost of the camera to be below $100 when manufactured in quantity.

edocs Sponsoring Credit Cards Online 2004 Forum in Boston; Software Provider Joins Industry Leaders at Annual Livermore Research Event

2007-03-23T06:06:00.001-07:00

The event's host, Livermore Research, is one of the leading experts in the credit card industry. It uses a proven methodology to uncover and report new online developments within all the major credit and charge card issuers and it is consistently the first industry source to report new functions, updated capabilities and site redesigns.

edocs provides a complete online self-service software platform for the credit card industry and works with several leading card issuers including GE Consumer Card Services and Target. edocs' Card Manager enables issuers to offer a complete and compelling online service experience for consumer and commercial cardholders and it delivers substantial cost savings and improved customer service levels. With edocs' solution in place at an issuer's website, business and consumer cardholders can view recent activity and account status, request usage alerts, categorize transactions, turn off paper delivery and run spending analysis reports.

About edocs

edocs is the leading provider of customer self-service and e-billing software for Global 2000 businesses. edocs' solutions improve the quality of customer care, reduce support costs and deepen relationships with business and consumer customers. The software enables end customers to manage their accounts, research offerings, buy products and services, review bills and statements, initiate and track payments, and resolve issues online from a single starting point at a company's web site. edocs' products and services are used by some of the world's leading organizations in financial services, energy, government, healthcare, insurance, retail and telecommunications. Customers include BT (British Telecom), Fannie Mae, FleetBoston Financial, GE Capital, Humana, Independence Blue Cross, Target, Telstra, Toyota Financial Services and TXU Energy.

Play your cards

2007-03-23T06:05:00.001-07:00

PURCHASING CARD PROGRAMS are moving to a new level of value. The first wave of change, which began about twenty years ago, put buying authority in the hands of front-line employees throughout their organizations. The benefits were clear: first, purchasing necessary goods and services became fast and convenient; taking even a part of the procurement process out of the paper-based world generated considerable savings in time and money; and, suppliers received payment almost instantly. Today, a second wave of purchasing card functionality is putting strategic information on the desks of senior managers. The difference is in the data.

At the most basic level of purchasing card use, managers receive monthly statements with "level one" data: date, supplier, dollar value and, of course, the name associated with the card, whether it is assigned to an individual employee or a work unit.

"Level four" data, on the other hand, is enhanced to the customers' specifications. Wendy Hall, Public sector Relations director at BMO ePurchasing Solutions said, "We may be the only provider that can pass level four data, custom data based on unique specifications of a client. An example would be time-sheets from a temp help agency, so we would work with the supplier and the government of Canada to deliver that custom data." she said.

Across levels one to four, there is a world of useful data, including order number, item product code, description, quantity, unit of measure and price. Managers can see where products are coming from and where they are going. If the organization is using temporary services, they can look up spending by individual contractor or the types of work performed. If materials are being sent out for analysis and testing, purchasing information could include tracking numbers. In fact, any information about a purchasing card transaction that can be described in alphanumeric terms can be delivered electronically.

Five years ago, when Ken Babich joined the purchasing services department at the University of Victoria, there were only about 70 purchasing cards in use on campus, with very restricted use, manual reconciliation and a monthly spend of only about $15,000.

Shortly after he arrived, he wrote a visionary article called "Bridging The Gap" that looked at the challenge of creating a seamless merger of purchasing card programs with enterprise resource planning (ERP) software to create an all-electronic process. At that time he wrote, "... purchasing cards should seriously be considered as the preferred method of purchase and payment." Since then, he has pursued that goal.

Today, there are 770 purchasing cardholders at the university and a total spend of nearly $4 million a year. And, best of all, "The entire process is electronic, from the actual commitment right to encumbering it in our budget."

Within the University of Victoria e-procurement website, an e-merchant site hosts the purchasing card solution. Employees use their purchasing cards to buy from approved vendors and each morning all the transactions for the prior period, including the day before, are reported.

"We take that information in spreadsheet format and we apply the tax tables to it, the PST and the GST, based on where the goods initiated from and so we have that all embedded in code through a product from a company called Millennium Computer Systems which is here in Victoria," Babich said. When data enters the financial software system, money immediately leaves the appropriate budgets.

As Babich said, "The end user can buy something today and within 24 hours, they can go to their financial statement, click on the transaction and see that it is a p-card transaction, what the value is and what it is for, all electronically. That was 'bridging the gap'."

Looking back, Babich said there is more to a solution than just technology. "One is the management of the program itself and the degree to which there is an entrepreneurial spirit attached to it. In other words, how willing is an organization to go ahead and engage technology, particularly p-card technology and some of the inherent risks that they think might come with it."

Once the gap is bridged, and data is flowing into an organization, the next step is to turn it into useful information. Brent Needham, the commercial solutions senior manager at Visa Canada said organizations really capture value with a fully automated procure-to-pay process.

"If you use an ERP system integrated with your electronic procurement system, and it automatically goes on a p-card, then it is much easier to take that enhanced data electronically and, if you're a compliancedriven organization, make sure people are in compliance," he said. "If you're an organization that really values strategic sourcing, you use that to figure out how much you're buying from suppliers and then try to negotiate better deals because you understand how much you're spending with each supplier over each twelve-month period."

Global Grocer: international shoppers click and buy from fledgling online food sellers

2007-03-23T06:04:00.000-07:00

Jacqueline Cubici-Gonzalez, a self-professed Interact shopping addict, visits a grocery store Web site once a week to buy meat, vegetables, canned goods and toiletries. But she doesn't have the items delivered to her home in Camberley, England. She sends them instead to her mother's home in Maracay, Venezuela, through the Web site of the Venezuelan grocery store El Plazas, ElPlazas.com.

"I used to send her money, but this way I have more control," says Cubici-Gonzalez, a Venezuelan who has lived in England for 14 years. "Knowing my mother, I had the feeling that when I sent her money, she would run out and not have everything she needed in the fridge."

Cubici-Gonzalez is part of a growing number of people outside Latin America using the Internet to send groceries to relatives in the region. It's an alternative to sending money that customers like because it lets them avoid fees charged by money-wiring services and ensures that their money is spent on food. And, at a time when many countries in the region are dealing with severe economic downturns, Latin Americans living abroad feel a great need to support family members in their home countries.

>From El Plazas in Venezuela to Peru's E. Wong, grocery stores throughout Latin America now accept Web orders paid with foreign credit cards. Argentina's Disco Virtual began offering service to foreign customers in March 2003, and Mexico's Gigante plans to begin in the first half of 2004. "I have clients from London, Spain, China, Japan," says Maria Teresa Mendez, e-commerce manager for El Plazas. The chain saw its overseas orders increase from virtually none to 6% of Web sales after Venezuela's political instability led to a recession in late 2002.

Disco Virtual, at discovirtual.com.ar, has about 1,500 foreign customers, says the Web site's director, Diego Baron. The store's marketing campaign targets Argentines living abroad by advertising in cities such as Miami, Madrid and Barcelona, where many Argentines have moved in the past three years following the country's debilitating financial crisis. The grocery store also advertises on Web sites that expatriates visit, such as Argentine newspaper sites.

Instead of just groceries, Disco Virtual also offers gift certificates for use in the grocery store. "People don't necessarily know what sort of food their relatives need, so they prefer to buy them vouchers," Baron says. "That way, they know they're not buying clothes."

Baron says he sees the overseas purchases as a niche market with significant growth potential. Web sales account for a small percentage of most grocery companies' annual revenues, and purchases by foreign customers are just a fraction of those Web sales. But companies are continuing to tap the foreign market, in part because Web sales within the region have been somewhat disappointing.

In theory, online grocery delivery businesses should fare better in Latin America than they did in the United States, where many flopped with the dot.com bust, perhaps for being overly ambitious. Many of the U.S. start-ups had no brick-and-mortar stores, counting solely on elaborate warehouses with fleets of delivery vehicles and an army of workers that proved too costly to maintain. In Latin American cities, labor is cheaper, distances are shorter than in U.S. suburbs, and the stores use existing in-store staff to fill Web orders.

Yet in Latin America there are not enough Internet users to support these businesses. And those who do use the Internet don't yet feel completely comfortable buying over the Web. "People in Mexico are afraid to give their credit card number online," says Ernesto Valdez, vice president of the Mexican Internet Association (AMIPCI). "We are working on a marketing campaign, educating people so that they understand that buying on the Internet is safe, that there is technology that protects credit card information."

Another problem for Web-based grocery stores in Latin America is demographics. The group of people using the Internet in the region is not the same segment of the population that does the grocery shopping. About 65% of Mexico's 10 million Internet users are between the ages of 18 and 34, and about 68% are men, according to a 2003 AMIPCI study.

Most grocery store shopping, meanwhile, is done by middle-aged or elderly women, says Carlos Gonzalez, e-commerce director at Gigante, whose Web grocery service has not made a profit since it started in 2001. But Gonzalez says he's willing to wait for his customers to come.

"Right now, the young Internet users are living at home with their parents," he says. "But as these new generations get married and have their own homes, Internet grocery shopping is going to Increase."

Know your history: five reasons to check your credit report

2007-03-15T22:11:00.002-07:00

Let's face it. Not everyone is a history buff. That's obvious to those who've ever watched an episode of "The Tonight Show with Jay Leno." As he skirts around the streets of Los Angeles during his signature bit "Jay Walking," he gets the most laughable responses to the simplest questions. When asked during one bit when Christopher Columbus discovered North America, a lady studying to be a teacher responded, "1842."

It's a scary thought that a future educator doesn't know when "Columbus sailed the ocean blue." Maybe more people would know their history if it had a more direct impact on their lives. Then again, that statement doesn't always ring true because there are many people who don't have a clue about personal history that affects them greatly--their credit history.

Just as a resume displays your work experience to a potential employer, a credit report provides creditors, and in some cases employers and insurers, with a detailed picture of your credit history. And like a resume, your credit report can influence whether you'll get what you're applying for.

Good credit isn't only useful in getting a loan. Credit checks are often done before a person is able to sign an apartment lease or as part of a background check before being offered a job, said Luther Branham, senior vice president of consumer lending for USAA Federal Savings Bank.

Your credit report provides a snapshot of your credit history and helps lenders make a quick, objective and accurate assessment of your credit risk. Occasionally, however, there are errors on these reports that can adversely affect your ability to get a loan or credit. Therefore, it stands to reason that you want to make sure your report is an accurate, up-to-date reflection of your credit history. Here are five reasons why you should become a history buff when it comes to regularly reviewing your credit report.

Identity theft

In 2003, 9.9 million people became victims of identity theft. A Federal Trade Commission publication titled, "ID Theft: When Bad Things Happen to Your Good Name," points out that identity thieves use a variety of methods--low- and high-tech--to gain access to personal data like social security numbers and credit card account information.

"A thief can secretly run up thousands of dollars in bills using your name and a different or fictitious address, and you may not be aware of this until you are turned down on an application because the delinquent debt was recorded on your credit report," said Michael Jackson, associate director of the Federal Deposit Insurance Corp.'s electronic banking branch.

The best way to catch a thief using your name is to get a copy of your credit report, according to the FTC publication. The report will show all the accounts opened in your name.

Let's assume your wallet has been stolen. The FTC suggests you contact the fraud department of any of the three major credit bureaus to place a fraud alert on your credit file. The alert is basically a request for creditors to contact you before opening any new accounts or making any changes to your existing accounts. As soon as the credit bureau confirms your fraud alert, the other two bureaus automatically will be notified to place fraud alerts, and all three credit reports will be sent to you free of charge.

Inaccuracies and mixed files

Many inaccuracies on a credit report can be the result of simple human error. For example, a New Jersey woman named Norma Cohen was astonished when she was turned down for a loan to refinance her home. She thought her credit was close to perfect.

Apparently, someone mixed her up with her deceased ex-husband. It's easy to see how it happened since his name was Norman Cohen. But Norma and her husband had divorced four years before his death, so she shouldn't have been held responsible for his bad debts. Though she explained the situation to the credit bureaus, it took some doing to correct the problem.

Other inaccuracies aren't so hard to dispute. The important thing to remember is you should correct even the tiniest of errors. Whether the errors relate to payments not credited or to late payments, it's best to contact the credit bureau to dispute the inaccurate information before it does too much damage to your report.

Inquiries

Every time you apply for credit and the credit grantor checks your report, a credit inquiry is placed in your file. Credit inquiries are bad because too many of them can indicate that you're "credit hungry" and may be in financial trouble. For this reason, too many inquiries can actually make getting credit more difficult. Moreover, if you didn't authorize someone to look at your credit report and they did, they may have broken the law. In order to see who's been looking at your credit, you need to read your report.

ID Thieves Turn Sights on Smaller E-Businesses; For Online Shoppers, Security Seals No Guarantee That Hackers Aren't Watching

2007-03-15T22:11:00.001-07:00

Byline: Brian Krebs

Schuyler Cole needed an accessory for his Palm Treo 600 smartphone, so the Haleiwa, Hawaii, resident fired up his Web browser last month and ran a Google search.

After scanning the search results, he purchased the inexpensive item -- a USB cable used to synchronize the Treo's settings with his personal computer -- from Cellhut.com, the first online store displayed in the results that looked like it carried the cable. The site featured a "Hackersafe" logo indicating that the site's security had been verified within the past 24 hours.

Later that day, information from Cole's purchase --- including his name, address, credit card and phone numbers, and the date and exact time of the transaction --- were posted into an online forum that caters to criminals engaged in credit card and identity theft. Ostensibly, the data on Cole was posted as an enticement to other fraudsters lurking on the forum who might be interested in buying large numbers of similar records.

Other personal data posted into the fraud forum included the personal and financial information for Shane Galloway, an 18-year-old freshman at Louisiana State University in Baton Rouge. When contacted by washingtonpost.com, Galloway said he purchased a wireless phone from Cellhut.com shortly after midnight on Sept. 6, just minutes after the time stamp on Cole's purchase.

Another individual whose data was found in the online chat channel --- a southern California resident who asked that his name not be used --- confirmed that he bought wireless accessories from Cellhut.com at 9:15 a.m. on Sept. 7, the exact time listed in the entry that was posted into the online forum along with his credit card data and other personal information. Later, he discovered that $6,000 in fraudulent charges were made using his credit card.

While public attention has remain fixed on a series of high-profile data losses or database breaches at federal government agencies, large corporations and universities, experts who study financial fraud say hackers increasingly are targeting small, commercial Web sites. In some cases, criminals are able to gain real-time access to the sites' transaction information, allowing them to steal valid credit card numbers and quickly charge large numbers of fraudulent purchases.

Small e-businesses offer fewer total victims, but they often present a softer target, either due to flaws in the software merchants use to process online orders or an over reliance on outsourced Web site security.

Cole's and Galloway's information was recorded being traded in an online chat room by Dan Clements, co-founder of CardCops.com, a fraud prevention service that monitors underground chat rooms where criminals trade in stolen credit cards and information used to commit identity theft. Clements said many smaller online merchants use generic shopping cart software that they fail to maintain with the latest software security patches.

"Most of these merchants that get hacked do not have updated versions of the software that runs their business, they're just trying to sell widgets," he said.

Nearly 80 percent of all software vulnerabilities discovered in the first six months of 2006 involved Web-based applications produced by hundreds of different software vendors, according to a report released Monday by Cupertino, Calif.-based security vendor Symantec Corp.

"The people writing these applications often don't know very much about Web-based vulnerabilities," said Alfred Huger, a senior director at Symantec Security Response. "Many of these Web vulnerabilities are not that difficult to discover and are very easy to exploit."

Cellhut.com, like many e-commerce Web sites, features the "HackerSafe" seal on its homepage proclaiming that the site "is tested and certified daily to pass the FBI/SANS Internet Security Test." ScanAlert Inc., a Napa, Calif.-based company that sells the service, scans some 75,000 online merchants each day for thousands of known Web site flaws.

ScanAlert is one of many companies providing third-party Web site security audits to online businesses. Other players in this market include Comodo Group Inc. of Jersey City, N.J., which markets its HackerGuardian scanning service; Coral Gables, Fla.-based Xenitel and its HackerFree seal; and the Verified Safe service from Lansing, Mich.-based Periscan.

By and large, the companies offer a range of basic and advanced security services that they say will assure Web customers that a site is doing everything possible to protect their personal data. But computer security experts are quick to question the effectiveness of these services.

"We hear from our assessor contacts who investigate (Web site) breaches that most of the sites had previously passed vulnerability scans," said Avivah Litan, a financial fraud analyst with the Stamford, Conn. research firm Gartner Inc.

Ethnic Groups, Males Seek Credit Cards Online — Study 04/25/00 - Industry Trend or Event

2007-03-15T22:10:00.003-07:00

NEW YORK, NEW YORK, U.S.A., 2000 APR 25 (NB) People who surf the Web looking for credit card offers are more ethnically diverse and also more receptive to online branding than the general online population, according to a recently released study from Cyber Dialogue, a company specializing in Internet customer relationship management.

The study is part of the company's "American Internet User Survey."

Cyber Dialogue also says that it has found online credit card seekers to be younger, primarily male and more likely to carry larger balances than other segments of the cyberspace population.

To date, according to Cyber Dialogue projections, 9.8 million Americans have shopped for credit cards on the Internet.

Newsbytes spoke with Sam Callard, a financial analyst for Cyber Dialogue's Internet Strategies Group about the findings of the study. He said he thinks the study, which traces the offline and online consumer use of financial services, provides important information for credit providers in understanding how online credit card seekers differ from consumers looking for other types of financial services, such as home loans or insurance.

For example, Cyber Dialogue says, online credit card seekers are especially attractive because nearly half of them a projected 4.3 million have actually applied for a credit card directly online. This translates into a reduction in the cost of acquisition to online credit card issuers.

Another positive aspect of online credit seekers, according to the report, is that online credit card applicants have a high conversion rate. This means that more than half of those who applied for credit cards on the Web a projected 2.2 million ultimately acquired a credit card online, and began using it.

"Credit card companies are missing an opportunity to acquire potentially valuable lifetime customers by overlooking such largely untapped groups as ethnic minorities," said Callard. One of the benefits of the Internet, Callard points out, is its ability to reduce both the offline cost and risk of targeting these kinds of small, high-potential customer segments.

But online credit card seekers are also more demanding than the general Internet population, according to the report. They are especially driven by low interest rates as well as the reputation of the credit card issuer.

Cyber Dialogue reports that 90 percent of online credit card seekers list low interest rates as an important feature of a credit card; and, 83 percent list a trusted institution as being important in their choice of cards. The general online population is said to be a third less likely to cite these two factors as important elements in their choice of a credit card issuer.

Among the other findings of the report was the statistic that 35 percent of online credit card seekers are in an ethnic minority group, as compared to 20 percent of the total general online adult population. The primary reason for this, Callard feels, is due to the anonymity of the Internet.

Another figure of importance for credit card issuers is that with an average balance of $3,100, online credit card seekers carry $1,000 more credit card debt than the general online population. This translates into greater merchant fees and more interest income for card issuers, as long as the monthly payments are made.

The findings reported by Cyber Dialogue are from the company's cybercitizen Finance Continuous Advisory Service which is part of Cyber Dialogue's American Internet User Survey (AIUS). According to Callard, the AIUS random measures via telephone 1,000 online adults, age 18 and older, as well as 1,000 non-Internet users.

TransUnion Leads Discussion of New Bankruptcy Reform at 14th Annual Credit Card Collections Conference; Online Collections and Scoring Expertise Also

2007-03-15T22:10:00.001-07:00

CHAMPIONSGATE, Fla. -- TransUnion, a leading global information solutions company, today led a general session panel discussion entitled "Gearing up for Bankruptcy Reform - A Unique Industry Perspective" at the 14th Annual Credit Card Collections Conference in ChampionsGate, Florida.

The panel was comprised of industry leaders from Citibank; the Association of Independent Consumer Credit Counseling Agencies; Money Management International, a credit counseling company; and a leading bankruptcy law firm. Participants discussed their respective roles in preparing for the bankruptcy reform laws that went into effect today. The panel also addressed new technologies and processes aimed at helping lenders, collection agencies and credit counseling companies more effectively work together in the post-reform environment.

Addressing a crowd of more than 200, panel moderator Mike Rosenthal, director of Debt Management Solutions at TransUnion, initiated the discussion by saying, "some innovative tools have entered the marketplace to assist credit grantors in devising treatment strategies that match an individual consumer's financial situation. Our panelists today represent industry leaders who are adapting and improving their roles based on this technology and on the needs of both consumers and businesses."

Earlier this year, TransUnion announced a debt management model, which credit counseling companies can use along with their core services to quickly assess whether consumers exhibit strong indicators for rehabilitation through temporary budget restructuring or a debt management plan. The score also assists lenders in making objective decisions to offer improved concessions, such as lower minimum payments, reduced interest rates or the removal of late penalty fees to those consumers who are most in need.

In addition to the bankruptcy reform discussion, TransUnion shared insights during the conference's "Collection Technology Showcase" on October 16. Michael Browning, president of TransUnion's direct marketing agency, Douglas-Danielle, contributed to a panel discussion on Online Collections. TransUnion offers an Online Payments solution that provides collectors with a customized Web site for collecting past-due payments that is cost-effective and less confrontational for consumers than traditional collection methods. Kevin Derbyshire, senior consultant in TransUnion's Analytic Decision Services group, shared his expertise in a panel discussion on Scoring and Strategy Management. In the scoring arena, TransUnion offers incidence-based models to help collections organizations identify which customers are most likely to pay in order to prioritize work effort and apply the most cost-effective treatment strategies.

Banks Offer Virtual Credit Cards for Online Shopping - Statistical Data Included

2007-03-15T22:09:00.001-07:00

OME $36 billion is likely to be spent at Web "e-tail" stores this year, up 145 percent from 1998. That estimate comes from shop.org, a trade association for online retailers.

Stressed-out workers are learning the value of e-shopping during their lunch breaks, or at midnight from their computer at home. And for the first time, you're seeing an explosion of Internet credit cards.

"Some of the very best and very worst cards are now offered on the Web," says Robert McKinley, president of CardWeb, a credit-card tracking service (www.cardWeb.com)

With a Web card, you apply online, get statements electronically or by mail, monitor your account online and pay by computer, too. Old-fashioned folk can still opt to pay by check.

For people seeking more credit this Christmas, the special appeal of Web cards is their speed. You give the same information you would in a mailed application. Approval (assuming you qualify) might come in just half a minute. From that moment, you can make purchases online.

Most issuers mail you a plastic card, usually a MasterCard or Visa, which you can also use in stores.

At Citibank, however, plastic has become uncool. Instead, Citibank is offering ClickCredit, a virtual card (www.clickcredit.com). It works like a credit card but exists only in Citi's computer. You use it solely for making purchases on the Web.

ClickCredit offers the usual credit-card bells and whistles, such as frequent-flier miles or cash-back rewards for frequent shoppers. The most desirable customers pay no annual fee and a 9.9 percent variable interest rate on unpaid balances. (Poorer credit risks pay 18.55 percent and perhaps a $50 annual fee.)

Here are McKinley's two favorite cards on the Web, plus the low rates they offer their better customers. Each has an introductory program, with low or zero rates for the first few months. Neither charges an annual fee.

(Who's a "better customer?" People who make payments on time and carry unpaid balances, or at least use their cards a lot. If you don't qualify, these issuers will charge you more.)

Wingspan Platinum Visa (www.wingspan.com) is issued by BankOne at a fixed 9.99 percent. With Wingspan, you get 5 percent off the cost of online purchases from 28 merchants.

NextCard Visa (www.nextcard.com) is issued by NextBank. You apply for a standard card with a fixed 15.9 percent rate. Once approved, you could be offered a rate as low as 9.9 percent, depending on your credit profile.

"That's fuzzy pricing," McKinley concedes, but he likes NextCard's rich rewards program. You get more frequent-flier miles per dollar spent than on any other card. But to get them free, you have to carry unpaid balances.

When checking a card's Web site, always click on the phrase "terms and conditions," to see what else the issuer may charge. For example, both of these cards punish people who pay late, pay less than the minimum or go over their credit limit.

Transgressors lose their low fixed rates. NextCard currently charges as much as 23.2 percent on unpaid balances, for those who pay less than the minimum. Wingspan goes to 22.99 percent for certain late payers.

Web credit cards provide the same fraud protection you'd get from any other credit card. Officially, you're liable for the first $50 in fraudulent charges. Most issuers, however, cover even that.

As for the bad apples, McKinley names three: Future Card Visa, First National Credit Card Visa and Global 1 Visa or MasterCard. They charge big fees up-front, substantial monthly fees and high interest rates.

Global 1, for example, charges $348 in setup fees, against a minimum credit limit of just $375 - which wouldn't leave you much to spend. First National charges $169, against a credit limit as small as $250. Even if your limit is higher, you're starting out in debt to the bank.

Wrong Number - orders received through stolen credit cards

2007-03-15T22:08:00.000-07:00

Don't let fraudulent credit card orders knock you out.

You thought a hearty "Congratulations!" would be in order. Your online business was still-in its first week and had already received a whopping $5,000 order. There was just one catch--it had been placed with a stolen credit card number.

The tip-off came when you saw that the order, ostensibly placed by a credit card holder with a U.S. billing address, was to be shipped to faraway Indonesia. A quick phone call to the real card holder, who told you she didn't have the foggiest idea about the order, confirmed your suspicion.

Sometimes, sniffing out fraudulent transactions can be a matter of common sense. While online fraud tactics are becoming increasingly sophisticated, preventing credit card fraud doesn't have to require expensive monitoring tools. Much of fraud prevention lies in knowing how fraud works.

Take, for example, this loophole in shipping companies' customer service policies: Any allegedly legitimate buyer can ask his merchant for the tracking number of his shipped order; the customer can then call the shipping company with the number and change the shipping address. This allows a person with a fraudulent credit card to clear a merchant's antifraud Address Verification System (AVS), which ensures that the customer's credit card billing and shipping information match bank records and each other. After having his or her order approved, any poseur can obtain his or her package's tracking number and change the original delivery address to his or her own.

Developing a policy of withholding the tracking numbers of overnight packages until delivery time has passed can serve as a simple but effective part of your strategy against electronic credit card fraud.

RISKY BUSINESS

Online merchants take on much higher risk than their brick-and-mortar counterparts: Nearly 10 percent of all Internet transactions are fraudulent, compared to less than 1 percent of credit card transactions in the physical world, according to a 1999 report by Meridien Research. (The company does, however, expect Internet fraud to drop to below 5 percent in its 2000 report.)

Internet merchants also assume higher penalties for credit card purchases than do physical stores, paying as much as 2.69 percent and 30 cents (compared to 1.5 percent and 20 cents) on every Net-based transaction.

Why are online fraud rates so high? Unlike face-to-face transactions, where a signed receipt serves as a contract protecting the merchant against identity fraud, transactions made over the phone or online do not guarantee the card user's identity. This means anyone with access to old credit card receipts or illegal software that generates authentic credit card numbers can attempt to use those numbers to buy online. Even worse, the merchant must assume all the risk in such non-face-to-face transactions.

Julie Ferguson, co-founder and vice president of emerging technologies for e-commerce software company ClearCommerce in Austin, Texas, and founding member and board member for the newly launched nonprofit Worldwide E-Commerce Fraud Prevention Network, says the total costs of e-fraud add up to far more than just the cost of goods sold. In fact, merchants are fined for chargebacks, or reversals, against disputed credit card sales. E-fraud costs thus include the cost of the order, bank and card processor fees (including higher discount rates, chargeback fees, fines and even termination of processor service for excessive chargebacks), the expense of manually resolving bad transactions and the decline in customer loyalty.

ANTI-FRAUD MEASURES

You can fight back against online credit card fraud by investing in fraud-detection software, either separately or as part of your credit card processing service. So-called store-in-a-box solutions can provide a generally easy and inexpensive system for processing credit cards, including pre-authorization with Visa and Mastercard. (For more on stores-in-a-box, see "Bizstartups.com" on page 122.)

If the anti-fraud tools that come bundled with your e-commerce solution provider or your credit card processing service aren't as robust as you want, however, you can invest in separate anti-fraud software and integrate it with your payment-processing service. These tools typically include realtime authorization capabilities to ensure the card number and expiration date are valid and customer funds are sufficient. Within the United States, tools also include AVSes. More advanced anti-fraud tools incorporate rules systems that are able to flag certain types of transactions based on customizable if/then statements (such as "IF the order is above $1,000 AND the shipping is express THEN review the order") and statistical models that learn by example and correlate transaction attributes with known fraudulent activity.

TransUnion Leads Discussion of New Bankruptcy Reform at 14th Annual Credit Card Collections Conference; Online Collections and Scoring Expertise Also

2007-03-06T01:49:00.001-08:00

Banks Offer Virtual Credit Cards for Online Shopping - Statistical Data Included

2007-03-06T01:48:00.000-08:00

SOME $36 billion is likely to be spent at Web "e-tail" stores this year, up 145 percent from 1998. That estimate comes from shop.org, a trade association for online retailers.

"Some of the very best and very worst cards are now offered on the Web," says Robert McKinley, president of CardWeb, a credit-card tracking service (www.cardWeb.com)

With a Web card, you apply online, get statements electronically or by mail, monitor your account online and pay by computer, too. Old-fashioned folk can still opt to pay by check.

(Who's a "better customer?" People who make payments on time and carry unpaid balances, or at least use their cards a lot. If you don't qualify, these issuers will charge you more.)

Wingspan Platinum Visa (www.wingspan.com) is issued by BankOne at a fixed 9.99 percent. With Wingspan, you get 5 percent off the cost of online purchases from 28 merchants.

Web credit cards provide the same fraud protection you'd get from any other credit card. Officially, you're liable for the first $50 in fraudulent charges. Most issuers, however, cover even that.

Global and Future didn't return calls. First National's Molly Fleming calls high fees the natural result of accepting people with poor credit.

Please, if you have poor credit, skip these cheesy offers and use a secured card, instead. With secured cards, you also pay money up-front, but it goes into your own interest-paying savings account. The bank taps that money only if you don't pay your bills.

Don't Get Slammed If Your Business Takes Credit Cards Online - Statistical Data Included

2007-03-05T23:42:00.001-08:00

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.

In the online world, things are very different. Merchants are frequently surprised to discover that they are held responsible for the entire cost of charge-backs, whether due to disputed charges, credit card theft, or any other cause. This is because, more often than not in a disputed online transaction, the merchant cannot produce a customer signature, and thus cannot definitively prove that the goods or services were provided to the customer. Merchants may also be liable for "investigation" fees to the credit card company that can amount to $25,000 a month if their charge-backs are consistently over a pre-defined percentage, which in many cases is as low as 1 percent. Merchants with high charge-back rates also risk having their accounts shut down entirely.

Since as many as 98 percent of e-commerce transactions are currently conducted via credit card, online retailers have no choice but to expose themselves to these risks if they want to succeed. Other payment options, such as Internet cash, e-checks, and other mechanisms have not achieved anything like the prevalence they would need to offer a viable alternative, and, in any case, credit card transactions are preferable to other methods of payment because they provide better customer information and instant approval.

Unfortunately, no simple technology solution to the problem of card-not-present credit card transactions is on the horizon, but credit card companies have made some efforts to enhance security. Visa/MasterCard offered a scheme called security-embedded transactions (SET) two years ago, but the program proved too complicated to administer, requiring customers to download software and certificates. American Express recently debuted a feature that allows customers to create one-time-use credit card numbers. And Visa/MasterCard has begun adding a three-digit number to the back of a credit card (called CVV2) that can offer an additional level of proof-of-ownership. The problem is that customers have little incentive to participate in these programs since they're indemnified against losses by the credit card companies anyway. And neither credit card companies nor merchants are interested in making life more difficult for the online consumer.

At present, the only effective method for merchants to reduce their exposure to charge-backs is by taking steps to control fraud prior to processing the transaction. Fortunately, there are some common-sense techniques that have proven effective in significantly reducing charge-backs:

1. Employ Real-Time Processing: Small businesses typically pay significantly higher fees (as much as 66 percent higher than for physical transactions) for the ability to process card-not-present transactions; nevertheless, real-time processing is invaluable, not only for making the customer happy but also for reducing fraud. Real-time authorization from a clearinghouse such as FDR provides a first line of defense against credit card fraud, instantly notifying the merchant in the case of a stolen card or credit problem.

Fantastic plastic: reap rewards automatically when you use credit—or debit—cards to pay recurring bills

2007-03-05T23:41:00.000-08:00

ENTREPRENEURS HAIL FROM HUNDREDS of disparate cities, industries and backgrounds, but one thing they have in common is an appreciation for plastic. Paying by credit card is convenient, it allows business owners to maximize their cash flow, and it offers the accumulation of rewards or points that can add up to thousands in free services each year. For regularly recurring bills, however, nothing beats the convenience of automatic bill payment, the kind typically offered online through consumer and business checking accounts.

Now, paying recurring bills automatically by credit card, which offers the best of both worlds, is catching on big with small businesses. Over the past two years, New York City-based American Express has seen its charge volume for automatic bill pay for small-business customers grow by 30 percent per year, says Karen Rosenberg, vice president of OPEN from American Express, the company's small-business trait. She sees it as a way to replace check-writing, with added benefits. "It helps [business owners] consolidate spending on the card and lets them better track and manage cash flow," she says.

American Express and its rivals, MasterCard and Visa, have all developed sophisticated online reporting tools to enable users to keep track of expenses and slice and dice them for budget purposes. Looking at a monthly or quarterly statement, business owners can see how much they're spending on utilities or subscriptions, or on overnight deliveries, says Doreen Amano, vice president of global product development at MasterCard International in Purchase, New York. "That can potentially help with negotiation with vendors when it comes to rate reduction," she notes.

For Ava Seavey, president of Avalanche Creative Services, an advertising firm based in New York City, convenience and the consolidation of expenses were key reasons to sign up for automated bill payment with half a dozen recurring vendors. Seavey's company employs only four full-time people but boasts several high-profile clients, and she only has part-time financial help from her controller and bookkeeper. "So anything I can do to save my time is worthwhile," says Seavey, who uses American Express for most business expenses. "I find that this minimizes the paperwork. Time is money, and writing checks costs money."

Then again, credit can cost money, too, if balances are allowed to slide. One finance charge or late penalty can erase a month's benefits of card use, so it's only worth doing if the balance is paid in full each month. In an effort to minimize debt, many entrepreneurs are turning to debit or check cards instead, which offer a lot of the same benefits.

"There's an overall concern about accumulated debt among small-business owners," says Diana Knox, senior vice president of Visa USA in San Francisco. She notes that business credit spending is up, but Visa has seen both business credit and debit growing by double digits over the past few years. Business owners can sign up for automatic bill pay with Visa and earn points or rewards through the Visa check card, just as they would with a credit card. And through its online reporting tool, Visa Information Source Select, launched this past summer, entrepreneurs can view all their credit and signature-based debit transaction information in one place.

Never Pay For Gas with Cash - Use a Credit Card

2006-12-30T01:49:00.003-08:00

When you go to a gas station, you have two choices. You can either walk up and hand the teller some cash or you can use a credit card. Besides just the convenience of using a credit card and being able to get out of there much faster, a credit card can actually save you a lot of money!

Most cash back or rewards credit cards, especially those that are linked to gas companies will actually give you 5% back on whatever money you spend with them on gas. So, yes, if you bought that same gas with cash, you would be spending 5% more.

Let me just put it this way, would you save spend $100 for something of $105. Of course you would chose the lower number.

Let's just, for a second, assume that you spend about $50 a week on gas (given the way the prices are raising, most spend even more)! This means that you are spending about $200 a month and $2,400 a year.

Well, if all you do is charge that gas to a credit card and delay paying it until the end of the month with 1 easy payment, you can instantly save $120/year.

It may not seem like a lot of money right now, but think about it:

- All you have to do is switch the method of payment.
- Credit card payment is actually easier
- Credit card payment is faster
- And, credit card payments help you build your credit score (as long as you make the payments on time).

But here's the kick! Most of these same cards will not only give you 5% on gas, but also on other places like groceries. The rest of the places they give you 1% back.

So, all you need to do is switch your method of payment and you can instantly start saving money on everything you buy, no matter what. Just make sure to stay within reason when you are using your credit card and only charge that that you know you can easily pay off.

Interest-Only Home Equity Lines of Credit and Second Mortgages

2006-12-30T01:49:00.001-08:00

Interest-only home equity loans are second mortgages that you pay only interest for the first 3, 5, or 10 years of the loan, significantly lowering mortgage payments during the first few years. Home equity lines of credit have been increasing in popularity because the mortgage lender only requires the borrower to make an interest only payment that tends to be less than the standard principal and interest payment.

Interest-only second mortgage loans:

• Increased cash flow with reduced mortgage payments during the first few years than conventional mortgages, because initially you're only paying interest.

• Increased purchase power to buy a higher-priced home than you could otherwise afford.

• Can help you in an emergency.

• Lower monthly payments with debt consolidation.

• Enable you to access funds for investing in a rising real estate market.

Interest only equity loans are not just for purchase loans. Many people refinance with interest-only loans to lower payments and consolidate debt.. There are also several varieties of interest-only home equity loans or second mortgages. These work in a similar way as those offered for first mortgages, including lower payments for affordability during the first few years of the loan.

Interest-only loans can be good for people whose income is sporadic, either because they are self-employed, are paid on commission or because they receive annual bonuses. This allows them to pay only interest during lean months, and make higher payments against the principal later on when they get their bonuses or commissions.

"These loans can be of value for people who want to save or invest the money they would have paid in principal," said Keith Gumbinger, vice president of HSH Associates, a publisher of loan information in Butler, N.J. Thus, interest-only loans also make sense for investors who invest the money they save into their stock portfolios. Additionally, they could work well for real estate speculators who buy property only to sell it later on when the property appreciates in value.

According to Brendon Daly, of BD Nationwide, "there is usually no prepayment penalty on interest-only loans, but look out for early termination fees."

In short, interest-only loans are for those who are more interested in freeing up immediate cash flow than in building equity in the home.

Which Credit Card Is The Best Deal For You?

2006-12-30T01:47:00.000-08:00

Choosing a credit card is not a simple task. You need to consider what you are going to use the credit card for and only then you’ll be able to make up your mind. A credit card is a complex financial contract that provides the applicant with several different services you but not all of them have to necessarily be used.

Rate or Fees?

If you plan to pay off the balance each month and thus won't incur in any finance charges, a low interest rate is less important than finding a card with no annual fee, no or small transaction fees and any rewards program that you can use to your advantage (miles if you travel a lot, gas if you use your car often, etc.)

If you’ll carry part of the balance to the next month or you need to finance purchases due to not having a steady income, a long grace period, a low interest rate and a balance calculation method that minimizes your finance charges is what you need. There are many credit cards that offer this kind of services, you just need to look for them.

Reducing Costs

All credit cards will cost you money to use, but depending on the terms and conditions, some are more expensive than others. When considering a credit card offer, check these factors:

It's important to know how an interest rate is calculated. A fixed rate will stay the same over time, but a variable interest will rise with the prime rate. It can be low today but rise every month. Be sure to determine what the interest rates are for different charges, such as balance transfers, cash advances and purchases.

You’ll also need to understand how the outstanding balance is calculated to determine the finance charge. Make sure to know how many days in the billing cycle you have to pay off the balance before you are hit with a finance charge. This varies from one credit card to another and can really make a difference.

Some cards charge an annual fee, which you may or may not be willing to pay. If the card has a lower interest than other others, it may be worth it. Otherwise, try to get the credit card with the lowest annual fee or no annual fee at all if possible. It makes no sense paying for something that you can get for free.

Even if you always pay your bills on time, be sure to find out about the card's late fees, over-limit fees and any other penalties you may incur when using the card. You never know what may happen in the future and such fees can raise your debt significantly if they are too excessive. Be sure to read the fine print. Credit card companies must disclose interest rates and fees, but some fees are buried deep in your user agreement.

ATT Universal Credit Card

2006-12-29T01:11:00.004-08:00

The internet has ushered in a period that has the credit card industry fiercely competitive now. Card companies are fighting to not only gain new customers but also trying to maintain their existing customer base. This high demand market has caused the consumers to be put in a very strong position. As these companies are trying to entice anyone possible to apply for their credit card, the offers keep getting better.

Some of the offers that can be had are waived annual fees. Card companies are also offering different reward programs. Rewards can be airline miles, shopping points, free gas promotions, mileage points, cash back and several others. One great promotion is the ATT Universal Credit Card that has 0% APR on balance transfers.

Before you start applying for cards you should research your options closely. By matching the reward offers to your lifestyle you will reap the greatest benefits possible. In the past this was a tedious task that involved speaking with many banks to compile a list. The internet has completely changed that. You can now do research in one evening at home that would possibly taken weeks before.

When doing your comparisons be sure you are comparing apples to apples. You can find comparison sites that have already been filled in for you that will allow you to see the benefits of Credit cards at a glance. You should not only use one site for this comparison, but instead get an average rating from several sites.

Frequent Flyer Credit Card

2006-12-29T01:11:00.003-08:00

The amount of air travelers is growing every year. As this trend continues there is growing interest in airlines to earn the business and trust of these travelers. Most airlines today offer some type of frequent flyer benefits.

American express and Southwest Airlines were the first companies to offer such packages. Customer loyalty was rewarded with free trips after a threshold of flight miles were logged and use of the American Express credit card counted also.

Today there are lots of choices of banking institutions from which you can obtain frequent flyer type benefits. With the growing number of banks offering these rewards, many have diversified into different types of programs and offers. The frequent flyer model has morphed into an array of ways you can use your benefits. This diversity allows us to better fit the rewards programs to our own lifestyle.

Programs that are available today range from gas stations, drugstores, supermarkets, department stores and of course the airlines themselves. The cards today can also be used at ATM all over the world to access cash when it is needed.

If you are willing to do your home work you can really benefit greatly from the use of these cards. The key is to find cards with rewards that fit your personal lifestyle.

Bad Credit Score: Go for Bad Credit Secured Loan

2006-12-29T01:11:00.001-08:00

Being categorized under bad credit due to inevitable circumstances lands you in serious trouble .It further perforates that you are an intentional defaulter which restricts the banks from providing loan .Being confronted by some unwanted situations such as late payments, CCJ’S etc you are termed as defaulter. Though these problems are highly avoidable in nature they invite high interest rates and stringent options. Thus to fulfill your dreams and to fulfill your desires you must go for bad credit secured loan.

With continuous increase in such masses it’s no longer a common scene. So giving it a separate status bad credit secured loans are being offered at low interest rates convenient to borrower. But the mandatory part is that loans are being secured against Collateral.

Bad credit secured loans –prerequisite

To get bad credit secured loan borrowers have to put their property as collateral against the loan amount .For availing apt bad credit secured loan a small market survey is essential. Surfing various websites and collecting information’s about the best loans offered gives you a better idea. Bad credit secured loans being one of the most flexible loans of the UK finance world provides loans in various cases such as- if a person is self employed or insolvent or is being declared or have received individual voluntary judgments. Also people with country court judgments or who have failed to pay arrears on mortgage or loans are being considered.

Bad credit secured loans –advantages

Since the lenders find it risky to give loans to bad creditor and hence chances of approval become higher as the number of lenders are high who attract customers to make huge profit. Since they don’t hold any prejudice against people they offer people loans at much attractive rates. Moreover customers have the opportunity to decide the monthly repayments with advices from experts. To get the best out of the lenders and financial institutions have their representatives available to clear your doubts. Though interest rates are high but still competitive with flexibility in repayment options. By just filling of a form online you can apply for it .You can improve your credit score which will also put positive impact on the lenders in case you require another loan in future.

Bad credit secured loans-features

Your financial status and collateral value must convince the lender that you have the caliber to pay the loan back. You need to submit income tax return, bank statements stress on credit checks you can borrow amount £5000 to £100000 with repayment period of 5-25 years. Generally the rates vary from 7.9% variable APR to 19.9% variable APR. A lender to compensate for the guarantee charges a high rate of interest and is reluctant to give loan to bad credit. Though this thought is no more prevalent as being untapped for a large time, moreover customers are willing to offer a high rate of interest. After taking your credit rating in account it offers you loan.

You must be very sure of paying your payments regularly otherwise your possession will be seized. Going for small amounts and offering high value collateral is a good option. While repaying loan you get loan approved by co-signers credentials. If you are having a good valued property, use it to improve bad credit score.

Relationships and Personal Debt

2006-12-28T01:10:00.001-08:00

For a period of almost four years, your author worked as a mortgage adviser in the UK. As you might imagine, over time all sorts of people walk through the office door.

However, there was one phenomenon that never ceased to amaze me or my colleagues and it is surprisingly common. This amazing sight?

Simply the number of people who treat their significant other poorly when it comes to money and debts.

Here is a typical scenario... A female wishes to buy a house. She has been renting or currently lives with her parents and needs to change. However, she is paying a debt each month, usually on a credit card, for a few thousand. Whilst discussing her income and expenditures, she mentions the card and that it was to pay for something (often a holiday but sometimes a rental deposit, car purchase, etc) for an ex boyfriend.

The ex boyfriend has either refused to pay anything or his share of the debt. Sometimes, he even refuses to admit that the debt exists. Fir the girl, it is easier and less painful to just put it all behind her and pay it herself.

At first, I used to think that it was just that the lady was having difficulty getting over the relationship and some poor treatment. However, as time passed and I saw this situation, or some variant, again and again, I started to realise that it probably was the ex.

What causes it, who can say? Perhaps it is purely selfish, or acts of desperation. Whatever is to blame, it certainly speaks volumes about the relationship and the person involved.

It always amazed me and my colleagues how someone, usually a man, could have such little regard or respect for a person that they had dated and obviously been close to. Of course, the post divorce finances of many are far worse. But marriage is meant to be a full partnership, till death do us part. It almost seems that some relationships are 'till debt do us part'.

Giving advice on such a delicate matter is often difficult. How do you tell someone not to spend money or help someone that they obviously love or care for? Whatever advice is given will seem mean spirited and negative. Yet, unfortunately, that is sometimes what is required. Suggesting that they 'dump' the other half is hardly likely to win you any friends!

Unfortunately, it seems that there is a small part of the population who is amoral when it comes to money and responsibility. The vast majority of us, if we owe money will work and pay it off. We are responsible and honest and keep our end of a deal.

Balance Transfer Credit Cards: When They Work

2006-12-28T01:10:00.000-08:00

Balance transfer credit cards are an appealing aspect of the credit card business. They allow many people to find just what they need in getting a lower interest rate. On top of that, they allow for some of the best choices when it comes to lowering your debt to credit ratio. In short, if you choose these credit cards wisely, they can work very effectively for prospective cardholders. If a balance transfer is right for you, take the time necessary to determine what the right move is.

Learning If It’s Right For You

Balance transfers can be beneficial to virtually anyone that has a balance on a credit card that is costing them money in finance charges. If you can apply for and get a lower interest rate on a credit card, then it could be a plus to consider it. This would mean that you could move your existing credit card balance to that one and end up paying much less on the card balance that you currently owe.

Another time that it can be beneficial to you to use balance transfer credit cards is when and if you select to get rid of some of your highly costly debt to keep yourself out of collections. To use this method, you should consider what you will do after the balance transfer happens. If you can invest some time in getting this new account open and restarting your credit with them, you may be able to get a lower interest rate, get a larger credit limit and improve your credit score as well. But, you can get into real trouble if and when you do not cancel or stop using the first credit card. If you continue to use the card with the large balance on it, you could find yourself in serious trouble overall.How To Get Balance Transfer Credit Cards

If you are looking to benefit from the prospect of balance transfers, you will, of course, need to find and apply for these credit cards. In most cases, virtually any credit card you apply for can be used as a balance transfer credit card. During your application process, the company will ask if you would like to use their credit card for this need. If so, then they will instruct you on how to do so right then and there. It can be that simple.

Yet, it does take some time and concentration to make it happen. To get a good quality balance transfer credit card, you should invest some time researching the best available opportunities. Luckily, you can easily do this right on the web. Take some time to look at several offers as they are all likely to be a bit different. Of course, you will also need to qualify for the credit cards in order to use this service. Here, they will likely look at your credit score and your income range to determine this need. Telling them up front that you would like to use balance transfers can be a great way to entice them into approving you for the amount that you need.

When it comes down to it, balance transfer credit cards allow people to find solutions to debt problems that they didn’t have before. If used properly, these credit cards can save a person signficiantly over time. Yet, it is necessary to find the best product at the best price for that to become a reality.

Student Gas Credit Card Comparison

2006-12-27T02:23:00.001-08:00

For a student, it can be difficult to get a credit card that saves money on gas. The best credit cards require a minimum annual income. The average college student does not have the time for classes and a job. Those who do work after class still do not earn enough to qualify for most rewards credit cards. A student usually only qualifies for basic credit card. For a student who drives there are some student gas credit cards available.

Citi Upromise Card - save 2% at Exxon & Mobil Gas Stations

The Citi Upromise Card is the number one rewards card for college savings as rated by CNN/Money. This credit card can earn you cash back on every purchase. There are tens of thousands of stores that you can save at. As a Upromise member, you can open a Upromise College Fund savings plan through Upromise Investments by saving as little as $50 a month (that’s less than $2 a day). Friends of families can automatically contribute to the college savings when they use their credit card.

•College savings on purchases, everywhere you shop!
•Plus 10% EXTRA college savings on 7000+ grocery and drug store items
•0% APR on balance transfers for 12 months
•No annual fee

The Citi Upromise Card earns 2% cash back at Exxon and Mobil gas stations, plus 1% on all other purchases. When you use this credit card at select stores, you also earn additional cash back. Best of all, there is no limit to how much you can save. Excellent credit is required.

Citi Driver's Edge Card for College Students - 3% Cash Back on Gas

Another great rewards credit card is the Citi Driver's Edge Card for College Students. This student credit card earns 3% cash back at supermarkets, drug stores and gas stations. On other purchases, you earn 1% rebates. You can also earn Drive Rebates based on how many miles you drive. For driving 10,000 miles, you can earn $100 in rebates. Here are some other features:

•0% APR for 6 months on purchases, cash advances, and balance transfers
•Earn rebates towards any car, new or used
•Build your credit history
•Free online account management
•$0 liability on unauthorized purchases
•No annual fee

There is an annual limit for the rebates you can earn. Each year you can earn up to $1000 in rebates. It is easy to qualify for the Citi Driver's Edge for College Students. They do not ask for a minimum annual income or a co-signer.

Discover Student Clear Card - 5% on 'Get More' purchases

The Discover Student Clear Card offers up to 5% cash back on select purchases such as gas stations, restaurants, book stores, theaters, clothing stores and more. Plus get 1% cash back on other purchases. There is no limit to how much cash you can earn each year. Turn your rebates into gift certificates at select stores and double your cash back. They do ask for your employment information. So you may get declined if you are not currently employeed.

•0% Intro APR on Purchases for 6 Months
•No Annual Fee
•Easiest Online Account Management Options
•Full 5% Cashback Bonus® on Get More Program purchases throughout the year
•Up to 1% Cashback Bonus® on all your other purchases
•Build Your Credit History
•Unlimited cash rewards that never expire as long as you use your Card.
•DOUBLE your Cashback Bonus® (turn $20 into $40) when you redeem for gift cards or certificates from many of our 60 brand name partners

A drawback of the Discover Student Clear Card is that throughout the year you can only earn 5% cash back on certain category purchases. Four times a year these categories change. So you might only get 5% cash back at gas stations for part of each year. If your shopping habits vary, this could work to your advantage.

Student Gas Credit Card Comparison Results

If you have excellent credit, the Citi Upromise Card would be the best choice as it offers the most savings. If you have a job but do not have sufficient credit for the Upromise Card, the Discover Student Clear Card can earn you high cash back rates. It is at the cost of a rotating rewards program. For students without a job, the Citi Driver's Edge for College Students might be right for you. It is easy to qualify for and still earns rebates everywhere you shop. Any of these credit cards would be a great way for a student to save money.

Business Credit Cards Offer The Ideal Choice

2006-12-27T02:22:00.002-08:00

Business credit cards are something that most business owners need to have. There are business trips and expenses to pay for. There are meals to cover and costs for rewards for good employees. To handle all of these needs, the right credit card should be in hand. Yet, if you are choosing credit cards simply based upon advertisements that you receive in the mail you may be missing out on some of the best card options out there. For large and small businesses, there are plenty of opportunities for success to consider with the right business credit card.

To gain the right benefits with these credit cards, you do need to consider all that they can offer you. Each and every one of them is quite different. To help you to sort through all of the benefits, take into consideration your needs as well as your needs when considering how to beef up the strength of your credit standing. Here are some tips to help you in your search:

* Determine flexibility in spending -- In many business credit card accounts, the goal is to have an open spending limit so that you and your employees can have the available credit necessary without worrying about hitting an over limit. Take some time to consider what opportunities either a charge card or a credit card can provide in terms of their charging limitations.

* Determine the Ongoing APR -- Even though this is a business credit card, you still should pay some attention to the APR that is being offered to you. In many cases, the slightest difference either way can make a huge difference if the balance is not paid for in full each month. Taking the time necessary to determine which card has the best ongoing APR is very important for your long-term success.

* Multiple Card Option -- Having the ability to give your employees the credit cards they need is also important. It is likely that you will want all of these cards managed under one plan. Yet, you may want to put restrictions on how much credit will be extended to each individual employee. That being the case, special consideration should be given to the card options that provide flexibility with multiple cards and customizable credit limits for individual employees.

* Fraud Protection -- Something that is being offered most card issuers is fraud protection. If someone should use a credit card in your name without your authorization, simply report the disputed charge and they will mark the disputed charges for further investigation, offering significant protection against fraudulent use.

* Access to Credit -- In the case of a small business, the right business credit cards will provide you with access to additional credit, and in some cases, substantial additional credit. Take some time to determine what it is that you need then apply for a credit card to help in making that happen. In many cases, these credit cards actually provide the means for getting over hurdles.

Business credit cards, like any credit card, should never be chosen without careful consideration. If you are looking for a means to securing the funds that you need to make things happen in your company, then consider this tool. You are sure to find several business credit card opportunities to call on to help you to do just that.

Airline Miles Credit Cards: Achieving The Best

2006-12-27T02:22:00.001-08:00

Airline miles credits cards offer you the opportunity to fly and save money while you are doing it. If you are someone that flies quite a bit, there is no doubt that you have benefits here. If you are someone that seldom flies, the right airline credit cards can actually help you as well. To understand how they work in detail, you will need to compare the ptions in credit cards out there. Although they are all quite different, they have the same basic foundations.

What Airline Miles Credit Cards Provide

The benefit that airline credit cards have is that they can provide you with the ability to bank miles. Miles are literally flying miles. If you purchase an airline ticket today using the credit card, you are likely to bank miles for your next trip. After awhile of banking these miles, you may be able to accumulate a free trip or at least a discounted one. Someone that flies more often will obvious have more of an opportunity to achieve this. Yet, anyone that moves from place to place at least sometimes can use these credit cards to help them to save some money.

What To Know

First off, there is a wide variety of airline credit cards on the market. Each of these credit card companies offers a different annual percentage rate, annual fee, and credit limit, just like your standard credit card would. If you are looking to find an opportunity to save money here, which you should do, compare the various credit offers you have on these features. Determine which offers you the best overall cost on those airline purchases.

Secondly, there is more to the airline miles credit card than appears on the surface. Those aspects are the most important financially speaking, but from the stand point of the airline miles, there are more things for you to think about. For example, you should take note of how many miles you get per purchase. One credit card may provide a fraction higher amount than the other. On the same token, one provider may limit you considerably on when you can actually use your miles, how you can use them and on which airline or flights you select to use them on. This can be rather restricting and a waste of your time if you do not have the opportunity to benefit from this reward. It pays to spend an extra five minutes comparing these features.

If you do not fly very often, airline credit cards are obviously less beneficial. Nevertheless, they can be beneficial to infrequent travelers as well and are well worth the consideration in any case.

When it all comes down to it, airline miles credit cards are a rewarding option to have among credit card options. Some offer you the ability to bank miles for an indefinite period of time, so why not use them? Make sure that you determine which credit card is the best overall option for your particular needs, considering all other fees, interest rates and card features. Then, make sure that they fit your needs with respect to the mile rewards offered. When these two things coincide and you subsequently qualify for the card, you can benefit substantially from the very best airline miles credit cards.

Are 0 Interest Credit Cards Reality or Myth?

2006-12-26T01:38:00.001-08:00

If you are looking at owning a new credit card then obviously 0 interest credit cards hold a lot of appeal for you. Anything with 0 interest does grab attention, for that matter! But in the name of 0 interest credit cards, there is a lot of subtle dodging that credit card companies are playing with,to ensure you catch the bait. The question is will you?

Admit it. You are hooked on the 0 APR credit card ad that you just saw in the morning newspaper,and your interest is piqued. Are these 0 interest credit cards a reality or are they just a myth?

The truth is, they are and they are not! They are for real because there are cards that live up to the promise to a certain degree, but the truth is also that this 0% interest does not last long. It might just be an initial gimmick to get you to apply and once you’re a cardholder, you will only have the 0 APR credit card for just a short time (3 months, 6 months, or if you’re very lucky 12 months) before they start charging you a higher rate of interest. Truly, this credit card game is an interesting one to watch, if you are the suffering player. Read on to know what you can do to make sure you are not the sufferer.

Understanding 0 APR Credit Cards

Admittedly, 0 APR credit cards hold a lot of enticement. But here’s what you’ve got to do when you find that a 0 APR card that has piqued your attention. Pay attention to how long the no-interest period will last, whether you can transfer other balances at the 0% rate, and, most important of all of these, what the APR rate will be when the offer ends! When you are done assessing these parameters you can properly finalize from the card options available.

The Luxuries of Owning a 0 APR Credit Card

If you’ve already accumulated a huge debt on your previous credit cards, there’s good news for you. A 0 APR credit card is known to benefit users with large outstanding card balances in a big way. Not only are these users able to cut down the amount of interest incurred upon their debt, but with the help of a 0 APR credit card they can also gain access to competitively priced cash advances, which can help consolidate outstanding high APR debt. There are fees and APR's attached to these cash advances, however.

Pitfalls of 0 Interest Credit Cards

*Most (in fact all) 0 interest credit cards offer 0% interest or no interest only for a limited amount of time, which varies between 6 to 12 months.

*If you’re thinking of transferring balances from high interest credit cards, some of these cards might not even allow you to do so during the introductory 0% offer period.

*Certain 0 APR credit cards might also charge expensive balance transfer fees.

*Some of these 0 interest credit cards also carry very high penalties for late payments and automatically switch you to a variable APR rate for a late payment.

*Certain 0 APR credit cards charge a very high interest rate after the introductory (read honeymoon) period expires.

Yes, the picture is definitely not all rosy, even though you can undoubtedly save money through the use of some 0 interest credit cards, not using them judiciously can be an expensive proposition. So choose and use them wisely.

Cash Back Credit Cards Offer Many Rewards

2006-12-26T01:37:00.004-08:00

The benefits of cash back credit cards are easy to see. You spend some money and then you get some of it back just for using your credit card. But, is it really that easy? Can this be something that just is a good choice to have? Sometimes, good things are out there. Other times, there are plenty of drawbacks. Yet, when it comes to cash back credit cards, there are more good than bad if you take the time to do your homework, use the card wisely and choose the best card available.

How They Work

The cash back credit card works in a number of ways. Just as there are the many different types of merchants and retailers that accept this type of card, there are just as many if not more differences among the credit cards themselves. If you are looking for the ideal opportunity, then you should carefully consider each of the available options and determine which fits the best.

The cash back card works quite simply. You spend your credit card funds any way that you would like to. As you use your credit card, you will find benefits along the way. Some retailers will provide for higher rewards than others. Or, you may have the ability to earn cash back on virtually any purchase. As you use your cash back credit card, you benefit by having some of the funds that you spend refunded to you. Yet, what is important to know is how that actually occurs.

Some cash back credit cards will reward you with a simple credit on your outstanding credit balance. Others will send you a certificate or some other form of rebate. Before you sign up for a cash back card, however, make sure that you understand how you will get your cash back. If the method in which they do this is not one that fits your needs, obviously, you should not bother with the offer. Yet, most cash back cards offer the rebates to be rewarded simply and easily to cardholders.

Another Consideration

The cash back credit card is like any other credit card in how it is set up. Therefore, when you are considering it, determine if, in fact, the value of the cash back reward that you get is inline with the cost of using the credit card. A higher interest rate or a higher annual fee really can negate the overall benefit of the card substantially and might even be more expensive to maintain than your existing cards. Therefore, it is up to you to investigate at least several offers and definitively decide which one seems to fit. In doing so, compare the interest rate, any fees that including annual fees, cash advance fees or over-the-limit fees, and be sure to weigh those costs against how much that you anticipate the rewards will pay you back.

A cash back card is, quite simply, an outstanding financial opportunity if used properly. It is more beneficial to individuals that use their credit cards judiciously (i.e., consistently paying off the monthly card balance) and have a good credit history as these things can help to lower the interest rate that you are paying. Yet, if you are to truly benefit from them, you should invest some time in comparing the options that you have in various card offers.

Business Credit Cards: Three Solutions to Business Difficulties

2006-12-26T01:37:00.003-08:00

Business credit cards can be one of the easiest ways for a new company to acquire needed financial capital, as well as an excellent way for existing companies to ease the transition into the Internet-age by simplifying the company purchasing process, making travel and expense accounting by employees all the easier. However, there are a number of other benefits to a good business credit card that companies can take advantage of in order to improve their financial stability and level of customer support still more, including rewards programs, variable credit limits, and multiple cards with fixed limits for different employees with different needs.

The most common business credit card rewards programs involve frequent flier miles, cash back rewards for gas and other travel expenses, and sometimes even office supplies or construction materials. This makes business credit cards ideal for virtually any type of business: investment firms can save a certain amount of money on the constant flights and travel necessary to attend faraway meetings. Furthermore, savings can be found as well on simple purchase items such as paper, toner, binder clips and other office supplies needed to keep any good corporate office running. But with the right kind of business credit card, even a small construction, landscaping or delivery firm can take a significant chunk out of their monthly gas or materials needs. The cash back isn't spectacular, with something like 1% - 3% cash back on purchases being the general standard. But if your business spends the entirety of a $10,000 credit limit in a month and receives a $300 rebate check over the course of that month,those savings can add up in a big way over time.

Variable credit limits are another advantage of a good business credit card. Often startup companies aren't sure, no matter how good their business plans, about exactly how much money they'll need in a given month, and in the case of certain industries (notably travel and tourism), business is tends to be a seasonal affair. At certain times, a $15,000 credit limit may be practical, but during the off season, you may find yourself with only $7,500 worth of expenses that need to be paid in credit. With a variable credit limit, you can spend however much or however little you want in a given month, as long as you're able to pay off the interest. Variable credit limits do come with a monthly fee for use, of course, but with the standard monthly fee falling somewhere in the $100 range, this should be an easily absorbable business expense, and an easy way to use business credit cards to make your accounting procedures and general operations run that much smoother.

Finally, business credit cards frequently allow multiple cards for use on a single account, each with an individually-defined credit limit. This allows you to allot only a certain amount of purchasing power to certain trusted employees, and is a very good way to control your company's purchasing operations and travel expenses without having to give each employee the same access to a single, high-limit credit account. Although you should always make sure that your employees can be responsible for their particular credit limit (since, in the case of startup businesses, a business credit card is most often placed in the name of an individual cardholder rather than in the business's name), business credit cards can help make your employees more autonomous, fostering a better work environment and requiring less time spent in tedious financial arrangements and year-end accounting crunches.

Compare Credit Cards Before You Buy

2006-12-25T01:37:00.000-08:00

If you need a new credit card, it's easy just to fill in the first application form that arrives in your mailbox.

Easy, but wrong. Nowadays there are thousands of different credit cards available, all with different combinations of terms, offers and incentives. It's important to take the time to compare credit cards carefully, therefore, before you actually apply for one.

One essential fact to grasp is that there is no single "best" credit card for everybody. Different cards suit different purposes. Your aim should be to pick a card that will meet your current financial needs and is a good match with your personal circumstances.

If you are currently paying interest on credit or store cards, for example, then you need a credit card that offers 0% interest on balance transfers for up to 12 months. You can then transfer the debts from your other cards to your interest-free card, and aim to pay off the balance before the end of the interest-free period.

If you don't have any current outstanding debts, you could choose a card that offers 0% interest on spending for an introductory period (again, cards offering up to 12 months are available). Put all your everyday spending on the card during this period, and put the money you would otherwise have spent into a high-interest savings account. At the end of the introductory period, pay off the balance on the card and pocket the interest you have earned. Remember, however, that you will still need to make the minimum repayments required by your card issuer during the introductory period.

You could also look for a card offering cashback. This is a popular incentive offered by many credit card issuers. It means that for every dollar you spend, your card company will give you back a small amount, usually in a single payment once a year. The amount returned as cashback is calculated as a percentage of your total spending, and typically ranges from 0.5% to 2%. Some card companies pay higher rates of up to 5% for purchases in certain categories or made through particular retailers. In a year you can earn hundreds of dollars in rebates, but always pay off your balance at the end of each month, or interest charges will wipe out your cashback benefits.

Cashback is a popular incentive, but there are others that may be of greater interest to people with particular lifestyles or interests. Anyone who stays regularly in hotels, for example, might benefit from a hotel credit card, which allows you to claim upgrades, free meals and merchandise at the hotel chain concerned. Sports fans, meanwhile, can get credit cards linked to popular sports such as NFL and NASCAR. Every time you use one of these cards, you get reward points that can be exchanged for sports-related goods and even tickets to see the sport concerned.

Lastly, if you need to borrow over a long period at a low interest rate, consider obtaining a lifetime balance transfer card. The interest rates on these cards are as low as the best personal loans, but with the big advantage that you can choose how long you take to repay your debt.

So if you need a new credit card, do take the time to check and compare different credit card offers and see which one will suit you best. Independent credit card comparison websites can help by listing all the best current credit card offers, and they also provide independent advice and information.