Credit Card Costs and How to Reduce Them

Credit Card Costs and How to Reduce Them During the last ten years, Americans have fully embraced the idea of using credit cards to make purchases. In fact, the average American household owes nearly $10,000 in credit card debt. As a result, the credit card companies are reaping record profits. These profits will undoubtedly increase with the passing of recent legislation reforming Federal bankruptcy law, which will make it harder for the average debtor to file for bankruptcy. One of the reasons that the credit card industry is so profitable is that so many of their customers fail to use their credit cards wisely. Anyone with good credit can easily obtain a major credit card that has a favorable interest rate of 10% or less. In order to keep that low rate, all the cardholder has to do is pay their bills on time. Many customers fail to do so, however, and that can lead to late fees that range from $15 to $29. Even worse, paying late can cause the credit card company to raise the interest rate on the account. A single late payment could cause the interest rate to increase substantially, and there are many credit card holders who now pay interest rates of as high as 30% per year. Interest rates that exceed 20% make it quite difficult for anyone carrying a balance to pay off their bill in full, so this is something that is best avoided, if possible. Should you pay your bill late once and receive a late fee, it may be worthwhile to call your credit card company and request that they waive the fee. Most credit card companies will waive a late fee - one time only. Some companies may refuse to do it at all, but it's worth the cardholder's time to ask, just the same. Should your credit card company refuse your request, it may be worth your while to shop around for another card. It is often possible to save money by transferring a credit card balance to another card with a lower interest rate. Fierce competition in the credit card industry has led to a flurry of advertising where customers routinely receive offers in the mail for low interest cards with great promotional offers. It is not unusual to receive an offer in the mail for a card with a temporary rate of less than 5% if you transfer your existing balance to the new card. Be aware that these low rates often apply to transferred balances only, and may not apply to new charges. Also be aware that these promotional rates are usually limited in time; typically the limit is six months or less. Higher rates may apply to existing balances after that time period expires, and the new, higher rates may even be applied retroactively. Cardholders are advised to carefully read the fine print in the cardholder agreement. A few good tips for reducing credit card costs are: *Take the time to shop around in order to find a card with the lowest possible interest rate. *Always make your payments on time. An easy way to do this is to pay on the Inteet. This eliminates the possibility of a check being lost or delayed in the mail. *Move balances from high-interest accounts to low-interest accounts. Keep a sharp eye out for cards with low promotional interest rates and transfer your balances to those accounts. *Use your credit cards carefully. If it is possible to pay cash, then pay cash. *Always pay your balance in full, if you can. *Try not to take cash advances unless you must; the fees and interest on a credit card loan can be high These simple steps will help you keep the sometimes considerable costs of owning a credit card to a bare minimum. Talbert Williams offers debt consolidation referrals and advice.

Bankwest low rate credit card

Many low rate credit cards come with great offers on the rates and rewards programs which often range from cash back programs to rebates. All these offers make shopping for credit cards all the harder. In fact, getting a credit card is a great hustle due to the way that these issuers package their products. Some will offer low APR, others low or no annual fee, yet others will give you a special start up rate that is known as an introductory rate. Other offers usually include balance transfers, which allow you to consolidate all your credit expenses onto one card. So it is left to the credit card shopper to determine what works for him or her best and most of the times this is not as easy as it may sound.

One of the low rate credit card issuers offering competitive products is Bankwest. One of their great products is the Bankwest Lite MasterCard. This credit card tries to offer great products outside the four major banks. The card issuer promises to manage your credit card debt thus reducing your stress. The most outstanding thing about the card is the 10.75% per annum interest rate on your purchases which is quite low compared to the rates that the other companies are offering and this is why you are guaranteed less stress. However, this rate excludes all cash advances.


The low rate credit card comes at an annual fee of $59 which is really not that expensive judging from the fact that you are paying a very low interest rate. Another great feature that the card has is that the holder gets to enjoy up to 55 days of interest free purchases per year. Also incorporated is the offer of three additional card holders at no extra cost. Bankwest online banking allows you to access you account 24 hours a day thus ensuring that you get to know all the changes and movement in your account.

The fact that this is a MasterCard allows you to access over 27 million outlets worldwide. This gives you the edge since you can get to travel as much as you ant without the fear that you cannot use your card. You can change your debits and payments on the switching tool on the online banking page. On top of these great offers, the MasterCard rewards you every time you use your card.

Aussie Credit card offering now low rate credit card offers

The use of credit cards has been in rapid growth especially in the 21st century. People are now turning to credit cards for their day to day purchases of items ranging from groceries to gas to airline tickets and restaurants. This acceptance of plastic money has become a revolution and is partly credited wit the expansion of the economy and the easy access to credit. Low rare credit card issuers have packaged their products in a very enticing manner and customers have a wide variety to choose from. One of these cards is the Aussie MasterCard which offers a low annual fee of just $49.

Among other things that the card comes with, the interest rate is very appealing. A rate of 11.49% is low and very affordable for the average customer. This rate is charged on all purchases ranging from restaurants, accommodation, shopping for groceries, gas, travel and entertainment. The card also offers you a special introductory rate of just 9.99% for the first 12 months from the time of account opening which is very interesting. The fact that you get an interest free period of up to 55 days is makes this card one of the most competitive. This is coupled with the low annual fee of $49.00 , making a decent option for a low rate credit card .


Another very interesting feature of this card is that it allows balance transfers. Balance transfers allow the consolidation of all your expenses into one credit card for the purpose of lowering interest rates. These transfers are allowed at a rate of 4.99& for the first 12 months from the date of account opening. After the expiry of the 12 months, the normal rates apply. The credit card level for this card is standard and requires an excellent credit rating. It is also important to note that some cards may have tiered reward points which actually serve to reward the client for shopping more frequently. However, this card concentrates more on low rates and does not have any rewards programs per se.

You are not required to be an Aussie customer for you to get this card meaning it can be accessed by almost anyone with a good credit rating. Subject to terms and conditions, the interest free days are only available to customers who have cleared their outstanding balances in full at the times that they are due. Thus the low rate credit card gives you a motivation to make prompt payments.

HSBC a good low rate credit card

Low rate credit cards are becoming a popular form of spending. This is because of the fact that on top of getting access to credit, you get to keep track of your spending patterns and thus find out the changes you need to make to harmonise your income and expenses. Credit card issuers have realised the popularity of these cards and throw all kinds of great offers at the client such that one is spoilt for choice. These offers are supposed to attract credit card shoppers to subscribe to one kind of card or another.

One of these low rate credit cards is the HSBC Platinum MasterCard with Cash Back rewards. This card guarantees the holder unlimited shopping restrictions and great cash back offers. These rewards include a full 1% cash back on every card purchase that the holder makes with the card regardless of place or amount. These cash back rewards are meant to entice the credit card holder to spend more so that the card issuer can benefit from a higher amount of interest surcharged.


However, the most outstanding aspect of this low rate credit card card is the fact that it has a 0$ annual fee. This is a very exceptional offer since the card holder does not worry about any other expenses except the monthly billings. The card has a special introductory rate of 0% APR on all card purchases and balance transfers for up to 12 months and an APR as low as +3.99% on the total purchases. Another great aspect of the card is the fact that the client gets Platinum benefits in the form of purchase protection, extended warranties on your card and rental car insurance on you automobiles.

Other attractive features of the card include a 100% fraud liability protection which protects you in case of a fraud. This applies automatically from the moment it is reported. MasterCard Platinum benefits also include Purchase Assurance coverage which protects you from any kind of theft or damages on the new purchases you make, extended warranty insurance which doubles the manufacturers warranty on all the new purchases, MasterCard Global Services which gives you 24 –hour assistance on all stolen or lost card needs and finally , the card has acceptance at millions of specified locations worldwide including all online purchases and reservations. You also get discounts from your MasterCard at many of the favourite merchants anytime you enrol for the service .This is surely low rate credit card you can count on.

Benefits of a Low Rate Credit Card

Thousands of people reap the benefits that low rate credit cards offer them each and every single day - it’s almost like “the” thing to do these days. If you plan to use the card responsibly, there is no reason at all as to why you should not be enjoying the benefits and all that an affordable credit card such as this, has to offer a person.

Consumers flock to credit cards deals and offers that can be attained through cards with low interest because it allows them to have a little more financial freedom, especially where it really counts. Going through the many advantages of this card will give you an idea of why you should consider going for this type of card and how it can help you as well.

You could even come up with a list of your own reasons as to how you will benefit from having a credit card on your side. If there is someone that you know, like a family member or a friend, they could also probably use a low rate credit card to assist them in taking care of the things that they need to get done as well. Getting a low rate credit card as opposed to a credit card with a higher an in some cases, more intimidating interest rate or fee, can help a person to save a ton of money in the process of getting things done.

Saving money can then lead on to other things that people can enjoy and appreciate as well, since the possibilities of extra money to spend are nearly endless. Some of the things that a person can do while they decide what they will do with the supplementary money that they save as a result from having a credit card that has a low rate are; using the money for gas, saving up for a rainy day, go out for a nice time on the town, treat themselves to a nice dinner, save up for home repairs or renovations, take a nice and peaceful trip out of town - or a ton of other things that they can imagine. Finding something to do with the excess money that you might be working with will be fun figure out. Having a low rate credit card can offer people much more than they can imagine, it can offer them a better quality of life.

Applying for St George Low Rate Credit card

Credit cards are a revolution in this day and age. We have credit companies marketing their low rate credit cards viciously and trying to get people to get their cards. Some of these companies like American Express and Discover have carved a niche for themselves in the market and other companies in hot pursuit. The interesting thing is that these credit card issuers choose to specialize in varied packages. Some choose to concentrate on lowering rates while others specialize in offering reward programs like cash backs and rebates all n the hope that customers will get to fall in love with their products.

St George low rate credit cards come in such a varied variety. Some have higher rates but offer more in terms of rewards and service while others have lower rates. These cards are thus highly competitive in the market. The first of these cards that have annual fees from $55 includes the St George Vertigo. This card has an annual fee of $55 and a low interest rate of just 10.99% which is as low as you will normally get in the market. The card offers the holder an interest free period of $55.00. Both these features are meant to attract customers who are keen on saving some money due to the low rates offered.


Another interesting feature of this card is that the card holder is allowed to make balance transfers and these are charged at the rate of 0% for the first 6 months after which the regular APR kicks in. due to the low rates, the card does not offer any kinds of rewards to the holders. This card falls in the Standard credit card level and is a MasterCard.

Another type of card above the $55 rate in annual fee is the Platinum Low Rate credit card. The card has an interest rate of 14.25% with an interest free period of up to 55 days. The card comes at an annual fee of $89.00. It allows balance transfer rates of 3.99% for the first 6 months. It has no rewards though some may have tiered reward points subject to terms and conditions. This card falls in the Platinum level and is a Visa card, this means that for many may be this will not be an option if they are considering for low rate credit card options.

Other interesting things about the card include domestic flight inconvenience insurance, free personal concierge coverage, complimentary overseas travel insurance, purchase security insurance and extended warranty insurance of up to 12 months.

Woolworths low rate credit card review

The fact that low rate credit cards are changing the way people spend money worldwide cannot be disputed. These cards have made shopping much easier and they come with advantages like security since you don’t have to have large amounts of cash on you thus worrying about your own safety. You also get to enjoy the benefits of credit advancing without lengthy form applications and long waiting periods like the kind you get from normal loans. The use of plastic money is thus here with us.

Woolworths has not been left behind during these changing times. They have designed affordable credit cards that will suit the customer’s needs and at the dame time be cost effective and easily maintainable. Such a card usually needs to come with very attractive rates do that the card holders can feel like they are getting the best offers that are available awhile paying less. A good example of such a card is the Woolworths EveryDay Money. This low rate credit card comes with very attractive features which include an annual fee of just $49 that is quite affordable to the customer. The card features a rate of 17.99% on purchases which quite frankly might be far too expensive compared to the rates of credit being offered by other credit card issuers.

However, low rate credit card shoppers are not necessarily fixated on interest rates as they may be on what they are being offered. One of the good things about the card is the fact that you get an interest free period of 55 days in a year subject to terms and conditions. The customer is also allowed to make balance transfers at a rate of 5.99% for the first 6 months. This credit card falls in the standard level category and is a MasterCard.

Reward points are the highlights of this card. You get 3 points per dollar spent on certain select products that are available on Woolworths or Safeway supermarkets. However, this excludes online purchases. You get 2 points on every dollar spent on this card for other products purchased fro Woolworths or Safeway supermarkets, Big W, Caltex Woolworths/Safeway branded fuel outlets, e-pump, Woolworths Liquor, Dick Smith PowerHouse, Thomas Dux and all included Dick Smith Electronics and all Tandy stores though exclusions apply. You get a point on every dollar spent on other purchases. Every four months, all points that meet the criteria are automatically converted into an EveryDay Money Shopping Card which is mailed to you that allows you to make purchases at specified retail outlets. It expires in 90 days from the issue date the woolworths low rate credit card.

Why a Low Rate Credit Card is Your Best Choice

People choose to make credit cards their primary source for spending for good reason. There is so much that a person can do when they choose to employ the uses many uses of a credit card. But which one is best? A low rate credit card would be a great option for you to consider, since it has all of the benefits of a regular card except lower interest rates - which is always a good thing for you to have at your side. But why would a low interest rate card be good for you and what can you gain from getting one ?

Well there are several things that should appeal to a person that is in need of a spending tool of this kind; the primary reason being that they will save much money. High interest rate cards can cost an arm and leg to have to keep up with, something that can put a person more in debt quicker than they can blink. With a low rate credit card, you will be looking at a smaller bill to maintain each month and year, and you will save possibly hundreds of dollars in the future - since you are ultimately keeping more of that money in your pocket.

It is true that there are credit cards out there that offer many different perks and advantages that may seem like a good deal for most people. While this may be true, what can be better for a person to consider than a great credit card that offers consumers a low interest rate? This gives a person the chance to save more money than with a card that does not offer low rates and has higher fees to deal with, which can lead to an individual’s financial situation getting out of control - which is never a good thing at all.

It may be tricky, or at times down right frustrating, but searching out and really studying the different low rate card options that are out there and available for you to will help to ensure that not only do you get what you want, but things will be even more likely to go as planned. Believe me, there are more than enough good offers out there that it might be difficult to choose. Picking out the card that will serve as the absolute best choice for you will help to give you the life that you deserve.

Low Rate Credit Card vs. Cash

There many differences between low rate credit cards and cash, some good and some bad - yet these are two of the most important methods of payment that people use these days. Even though both of these are two totally different ways that someone can pay for their everyday items, they both have things about them that work to the benefit of everyone that uses them. The differences that make a low rate credit card and cash unique to each other can be good actually, especially if you choose to use both.

Some people seem to want one over the other, no exceptions - yet having each one at your side just in case may prove to be a great idea, as many people have found. So, why don’t we go into what the differences are between them and what makes them so unique. Also, how do these comparisons help or hurt the average person ? There are so many things to consider when sizing these great financial tools with each other. By knowing how each one works, you are giving yourself the necessary “know how” to use each one effectively.
Let’s start with cash. Cash is very different from a credit card. Even with their similarities, you will find that money will be unique from most other payment methods. One thing about money is that is generally better to use than credit, for most people - since you will not have to worry about paying a bill later on down the line - since your things will already be paid for. Low rate credit cards on the other hand have their advantages.

They are extremely fast and easy to use, and you do not have to worry too much about counting anything. As long as you have something on your card and the funds are sufficient for your purchase, then you are usually good to go. Low Rate Credit cards are also easier to handle and can be confirmed as being yours since your name is normally printed on it, whereas with money there’s not any identifying factors.

Whether a low rate credit card or cash is better than the other is subjective, since people are different and have various ideals on what works good for them. One thing is certain though, both of these would serve as excellent financial tools for people in their everyday lives.

How to Get a Low Rate Credit Card

Getting a low rate credit card does not have to be a hard thing for people to do - it’s actually a lot easier than people might think it is. Doing this is not uncommon at all, since more than hundreds of people attain credit cards with low interest rates and fees every day. A credit card with affordable options can help you in so many ways that you can surely look forward getting that much needed relief from the hassle of having to keep up with so many financial obligations (for example; bills, tabs, monthly payments, mortgage, etc.).

Even if a credit card with low interest rates saves you a small amount of money month after month, it will soon add up nicely and you will be able to enjoy having a supplementary amount of cash on the side. So, how can you go about getting a low a rate credit card and where can a person that is interested in having one get it? Well, there are various ways that you or anyone who is interested in doing this can go about attaining the card that they deserve.

On your way to getting the card that you want, you will want to make sure that you keep your eye on the prize and be persistent, do not give up - many thousands of people have done this before and have been successful, even when they have thought that it was previously impossible, but they made it and so can you. You can start by going through the application process. You can find low rate credit card applications in a number of places; in the mail, at the bank (if they offer them), and one of the main places - on the internet.

The fastest and easiest way to do this is by going on the internet and looking up on different good credit card sites that can help you find the type of credit card that you are wanting. If you need help, you can always ask around to see who offers the best credit card deals and offers that will suit exactly what you need and are looking for. Once you apply, waiting for an answer or final decision will usually follow. Preparing for a low rate credit card is usually the way to go if you want to get approved for a deal with the lowest rates.

How To Protect Your Debit and Credit Cards

The following suggestions may help you protect your credit card and your ATM or debit card accounts.

For credit and ATM or debit cards:

Be cautious about disclosing your account number over the phone unless you know you're dealing with a reputable company.

Never put your account number on the outside of an envelope or on a postcard.

Draw a line through blank spaces on charge or debit slips above the total so the amount cannot be changed.

Don't sign a blank charge or debit slip.

Tear up carbons and save your receipts to check against your monthly statements.

Cut up old cards - cutting through the account number - before disposing of them.

Open monthly statements promptly and compare them with your receipts. Report mistakes or discrepancies as soon as possible to the special address listed on your statement for inquiries. Under the FCBA (credit cards) and the EFTA (ATM or debit cards), the card issuer must investigate errors reported to them within 60 days of the date your statement was mailed to you.

Keep a record - in a safe place separate from your cards - of your account numbers, expiration dates, and the telephone numbers of each card issuer so you can report a loss quickly.

Carry only those cards that you anticipate you'll need.

For ATM or debit cards:

Don't carry your PIN in your wallet or purse or write it on your ATM or debit card.

Never write your PIN on the outside of a deposit slip, an envelope, or other papers that could be easily lost or seen.

Carefully check ATM or debit card transactions before you enter the PIN or before you sign the receipt; the funds for this item will be fairly quickly transferred out of your checking or other deposit account.

Periodically check your account activity. This is particularly important if you bank online. Compare the current balance and recent withdrawals or transfers to those you've recorded, including your current ATM and debit card withdrawals and purchases and your recent checks. If you notice transactions you didn't make, or if your balance has dropped suddenly without activity by you, immediately report the problem to your card issuer. Someone may have co-opted your account information to commit fraud.

Should you buy a registration service?

For an annual fee, companies will notify the issuers of your credit card and your ATM or debit card accounts if your card is lost or stolen. This service allows you to make only one phone call to report all card losses rather than calling individual issuers. Most services also will request replacement cards on your behalf.

Purchasing a card registration service may be convenient, but it's not required. The FCBA and the EFTA give you the right to contact your card issuers directly in the event of a loss or suspected unauthorized use.

If you decide to buy a registration service, compare offers. Carefully read the contract to determine the company's obligations and your liability. For example, will the company reimburse you if it fails to notify card issuers promptly once you've called in the loss to the service? If not, you could be liable for unauthorized charges or transfers.

What Do You Do If Your Credit or Debit Card is Lost or Stolen?

Make sure that you report the loss or theft of your credit cards and your ATM or debit cards to the card issuers as quickly as possible. Many companies have toll-free numbers and 24-hour service to deal with such emergencies. Look on your statement or the back of your credit card and write it down now. It's a good idea to follow up your phone calls with a letter. Include your account number, when you noticed your card was missing, and the date you first reported the loss. Reporting as soon as possible is the key to limiting your liability.

You also may want to check your homeowners insurance policy to see if it covers your liability for card thefts. If not, some insurance companies will allow you to change your policy to include this protection.

Credit Card Loss or Fraudulent Charges (FCBA). Your maximum liability under federal law for unauthorized use of your credit card is $50. If you report the loss before your credit cards are used, the FCBA says the card issuer cannot hold you responsible for any unauthorized charges. If a thief uses your cards before you report them missing, the most you will owe for unauthorized charges is $50 per card. Also, if the loss involves your credit card number, but not the card itself, you have no liability for unauthorized use.

After the loss, review your billing statements carefully. If they show any unauthorized charges, it's best to send a letter to the card issuer describing each questionable charge. Again, tell the card issuer the date your card was lost or stolen, or when you first noticed unauthorized charges, and when you first reported the problem to them. Be sure to send the letter to the address provided for billing errors. Do not send it with a payment or to the address where you send your payments unless you are directed to do so.

ATM or Debit Card Loss or Fraudulent Transfers (EFTA). Your liability under federal law for unauthorized use of your ATM or debit card depends on how quickly you report the loss. If you report an ATM or debit card missing before it's used without your permission, the EFTA says the card issuer cannot hold you responsible for any unauthorized transfers. If unauthorized use occurs before you report it, your liability under federal law depends on how quickly you report the loss.

For example, if you report the loss within two business days after you realize your card is missing, you will not be responsible for more than $50 for unauthorized use. However, if you don't report the loss within two business days after you discover the loss, you could lose up to $500 because of an unauthorized transfer. You also risk unlimited loss if you fail to report an unauthorized transfer within 60 days after your bank statement containing unauthorized use is mailed to you. That means you could lose all the money in your bank account and the unused portion of your line of credit established for overdrafts. However, for unauthorized transfers involving only your debit card number (not the loss of the card), you are liable only for transfers that occur after 60 days following the mailing of your bank statement containing the unauthorized use and before you report the loss.

If unauthorized transfers show up on your bank statement, report them to the card issuer as quickly as possible. Once you've reported the loss of your ATM or debit card, you cannot be held liable for additional unauthorized transfers that occur after that time.

Debit and Credit Card Blocking

What is Credit or Debit Card Blocking?

When you use a credit or debit card to check into a hotel or rent a car, the clerk usually contacts the company that issued your card to give an estimated total. If the transaction is approved, your available credit (credit card) or the balance in your bank account (debit card) is reduced by this amount. That's a "block." Some companies also call this placing a "hold" on those amounts.

Here's how it works: Suppose you use a credit or debit card when you check into a $100-a-night hotel for five nights. At least $500 would likely be blocked. In addition, hotels and rental car companies often add anticipated charges for "incidentals" like food, beverages, or gasoline to the blocked amount. These incidental amounts can vary widely among merchants.

If you pay your bill with the same card you used when you checked in, the final charge on your credit card, or final amount on your debit card, probably will replace the block in a day or two. However, if you pay your bill with a different card, or with cash or a check, the company that issued the card you used at check-in might hold the block for up to 15 days after you've checked out. That's because they weren't notified of the final payment and didn't know you paid another way.

Why Blocking Can Be a Problem

Blocking is used to make sure you don't exceed your credit line (credit card) or overdraw your bank account (debit card) before checking out of a hotel or returning a rental car, leaving the merchant unpaid. Blocking is sometimes also used by restaurants for anticipated size able bills (like large groups at dinner or a party), by companies cleaning your home, and other businesses to ensure credit or account money will be available to complete payment.

If you're nowhere near your credit limit or don't have a low balance in your bank account, blocking probably won't be a problem. But if you're reaching that point, be careful. Not only can it be embarrassing to have your card declined, it also can be inconvenient, especially if you have an emergency purchase and insufficient credit or money in your bank account. On debit cards, depending on the balance in your bank account, blocking could lead to charges for insufficient funds while the block remains in place.

How to Avoid Blocking

To avoid the aggravation that blocking can cause, follow these tips:

• When you check into a hotel or rent a car - or if a restaurant or other business asks for your card in advance of service - ask if the company is "blocking," how much will be blocked, how the amount is determined, and how long the block remains in place.

• Consider paying hotel, motel, rental car, or other "blocked" bills with the same credit or debit card you used at the beginning of the transaction. Ask the clerk when the prior block will be removed.

• If you pay with a different card, by cash, or by check, remind the clerk you're using a different form of payment and ask them to remove the prior block promptly.

• Ask your current debit card issuer if they permit blocks, for how long, and from what types of merchants. If they do, you may want to consider getting an overdraft line of credit from your bank. Ask about a plan that always automatically covers the overdraft and does not involve a separate bank decision on whether or not to pay it each time. Although you might incur some interest on this plan if you don't pay off the amount fairly quickly, you would not have an overdraft that is not paid. Ask your bank if they offer an overdraft line of credit, how it would work, and how much it costs.

In addition, if you are considering a credit or debit card, shop around. When you are comparing credit and debit card offers, ask issuers if they permit blocks, for how long, and from what types of merchants. You may want to consider an issuer that uses shorter blocks.

Comparing Credit Cards and Choosing the Card for You

Before you make your decision and choose a credit card, you should always compare what each company or bank has to offer you. If you get an offer in the mail for a credit card, you should go on the Internet and look into it more. You should also make sure that you read the fine print as well, to see if there are any type of hidden fees or other costs associated with that card. Many times, with offers in the mail, credit card companies or banks will try to sneak hidden fees and costs in there.

When you start to compare offers, you should make sure that you look at the APR and the fees. The APR is very important, as this will tell you your interest rate. You want to get the lowest APR possible with your credit card. If you look at a credit card that has an unusually high APR, you should immediately rule it out. Credit cards that come with high APR rates can easily lead you on a roller coaster towards credit card debt. No matter how good your credit may be, high APR rates can leave you with charges that are really difficult to pay.

Among the many options available to you, you’ll have three primary choices for your credit card - Visa, MasterCard, and American Express. These three giants are the leaders in credit cards. Visa and MasterCard don’t issue the cards themselves, they have banks and other companies issue on their behalf. American Express, or AMEX, is the only one that does everything themselves. AMEX issues their credit cards, maintains their own networks, and doesn’t use any type of third party.

If you like to travel, you will probably want to choose either Visa or MasterCard, as they are accepted all over the world. American Express is the least accepted of the three, although the company is upgrading their networks every chance they get. Before too long, AMEX will be accepted virtually everywhere. Right now though, AMEX isn’t accepted in all areas of the world.

Discover is another type of credit card, although it isn’t near as popular as the three above. Discover does have some great benefits to offer you, although it isn’t accepted in other parts of the world. Most people who have Discover credit cards stay local and use their cards in the event of an emergency. If you don’t have a credit card and have been thinking about getting a Discover card, you should really think about that decision and choose either Visa or MasterCard instead.

All in all, there are a lot of credit cards to choose from. That final decision though, is entirely up to you. There are a lot of great companies and banks out there, although it’s up to you to find the best credit card for your needs. You can choose to go with a company or bank that’s local to you, or get online and look for your credit card. The Internet can be a great resource for credit cards, as long as you know what you want. If you know what you want before you go online - you’ll save yourself a lot of time and money.

Virtual Credit Cards

The modern life has become so busy that we hardly give enough time to our family. Day after day we have to satisfy different aspects of the life from office to home. Such is the condition that it is hard to keep little leisure time for us. When there is so much to do in the little time that we get, it is hard to think about shopping for which we need a good amount of time. This is especially true when for shopping we have to drive through crowded streets, visit different shops at the peak hours and still we can not get the best product to purchase.

We need to shop without any hassles. We want to shop conveniently still saving a lot of our time being waste in the traffic and selection of the product. To get relieve from all the hassles of shopping yet shop the ideal product at an affordable price online shopping is the best way. You can shop your product safely without getting any stress.

Living in a big city is a big challenge and when you come outside your home you will know how the world is shrinking day by day. Well, the actual thing is that we often use too much things that there is very little space left for car or any other type of vehicles. Since most of the malls and shops don’t have too much space for parking, you will find it very difficult when you are going for shopping on your personal vehicle. Even you can not go without the vehicle and incase you select the private vehicles it would consume lots of your time. In both ways you have to face hassles and waste too much time. However, shopping through the online will save you from all this hassles and you don’t have to spend too much of time on shopping. You can also visit number of sites where you have the option to find different items and compare their prices.

You can get cheap products by comparing the price in different shopping sites within few minutes. You can get great items at an affordable price as the online shops don’t have to spend on other things such as store rooms and sales persons. Since the online shopping is open throughout the week, you will get the time convenient for your shopping. You can shop as and when you required. Online shopping provides you complete freedom of choice, freedom over time and freedom over your selection.

Using UK Credit Cards

Credit cards are becoming popular all over the world. It has changed the way business is being done, and the United Kingdom is no exemption. The use of UK credit card is becoming very popular in the UK, like how it is used the other parts of the world.

UK credit cards are accepted at most stores and other merchant outlets all over the United Kingdom. Like the credit cards in the United States, various banks and financial institutions offer different kinds of cards to its customers.

There are numerous bank cards available and these cards offer different features to cater to different needs of the customers. The benefits of UK cards vary from one to another but these cards still work like the other plastic cards in the world. With the popularization of the use of credit cards, competition if very stiff in the card market, prompting card suppliers to come up with tempting offers like attractive balance transfer schemes.

Some UK credit cards offer zero percent balance transfer to their customers for nine months while others offer zero percent for six months. These offers are focused on enticing more customers to get cards from their companies. These companies however differ on their standard APR. It is therefore advisable for a customer to know how much the APR would be after the initial specified period of zero percentage.

When shopping for a credit card, check which companies offer a better standard rate (APR) throughout. Other companies dangle offers of combined cash back with balance transfers. Others lure customers by offering zero percent not only on balance transfers but also on Purchases they made during the short specified period.

Therefore, as not to be beaten, some card companies extend their offers to people with bad credit history but the decision for applications from these people will depend on the card supplier. It is very simple to transfer your balance from one UK credit card to another. All you need to do is to evaluate your current financial situation to determine how many months would be sufficient for you to pay the dues on your credit card in full.

The important thing here is that as soon as you payback your dues, you should control your spending and pay your credit bills in full by the time they are due. If you do not pay in full, you will be in deeper trouble because your bill will incur late fees and interests. This will keep on increasing every month until before you know it, the figure will be too big for you to pay.

If you think that you cannot pay back your dues to your card supplier in a period of nine months for example, you should look for a credit card which could give you the best offer. Like other credit cards in the world, the UK credit card functions just the same. You just need to look for that particular feature that suits your style and spending habits.

Seek Out Credit Card Offers

Get ready to take some notes. Start taking notes on the credit card offers that appeal to you. You can do this on paper or on a spreadsheet if you are comfortable with these. What you want to do is make it easy to compare the features of each card you are considering.

Do not start applying for cards yet

Divide your notes into columns, one for each feature, and each card on its own row. Look at a number of cards, ruling out any that obviously aren't what you need (high interest rate cards, for example), but noting any that are even slightly of interest.

Take a look at what you have found and compare it with what you are looking for in a card. One or two should have the strongest match to what you are after in a credit card.

I generally prefer online credit card offers for one simple reason - you get far more of them. The ones in the mail can be quite good, but odds are you can find them online too, along with offers you haven't received in the mail. But online offers have the advantage that you get your answer in minutes, rather than days or weeks. All you have to wait for is the actual card in the mail.

Smart shopping for your credit card means you will get the best benefits from your card. You won't regret the time spent when you know that you've picked the exact card for your needs.

Why credit cards can be your best friend but can also be your worst enemy

Credit cards can be your friend but they can also be one of your worst enemy. Credit cards are very useful they are easy to use and provide a fast way to buy stuff. They enable Internet shopping and provide some liability protection. But credit cards can also be a bottomless sink if used the wrong way.

Credit cards are relatively a new way to transfer money between two entities. They were invented less than one hundred years ago and very fast became a huge success with practically every consumer in the USA having a few cards in his or her wallet. The reason for the tremendous success was in the superior consumer experience. Many credit cards are free fro consumers and even the ones that charge some annual fee are practically free as the fees are very small. They provide a fast and easy way to make purchases. They provide a way to track your purchases through the credit card statement. They provide some liability and warranty benefits for example if you purchase a product that is faulty and the retailer does not agree to replace or refund it you can call your credit card company to dispute the charge and more likely than not they will remove the charge from your card and penalize the retailer. In the last few years credit cards were an important enabler to the growth of Internet commerce. Having an easy to use and safe payment system was a must for Internet shopping to flourish and credit cards provided just that.

But credit cards also have another side to them an ugly side that has ruined many people lives. This side is the credit feature of the credit card. When receiving your monthly credit card statement you have two options. One is to pay the statement in full while the other is to pay a partial amount greater or equal to some minimal number. The rest of what you own is then carried over to the next month with financing charges added. The problem with credit cards is that the interest they charge for that financing is high most likely the most expensive financing that you could find. If a consumer needs to use such credit card financing once that would not be a big problem. The problem however starts with another feature of the card which is the seamless ability to make purchases up to a usually very high limit that the credit card carries. It is very hard for consumers to estimate the total accumulated charges that they put on their credit card. Many small charges do not feel like a lot of money and in fact when asked most consumers would underestimate what their monthly statement would be. Receiving a higher than expected statement means for many consumers not being able to pay the statement for lack of money thus being forced to carry debt on the credit card and bear the financing charges. This becomes a loop as the next month charges are hard to pay too but now there is also the previous months charges and the interest on the financing. This becomes a vicious circle with debt accumulating to levels that can make many consumers bankrupt.

Why To Have A Spare Credit Card

Many people have experienced this credit block, specially the frequent travelers. Hotels post notices of their policy regarding blocking, usually in the form of an obscure plaque some clerks will point to when an inquisitive visitor checks in. Car rental companies rapidly recite their policy to callers wanting to reserve an SUV for the family vacation. Still hundreds of unsuspecting customers will feel the pain of credit card blocks every day. What is credit blocking?

Due to the risk involved, credit card issuers block your credit. The amount of credit reduces when a block is applied to your account. Plus the amount of the block may be more than expected as the bank may add in additional estimated charges such as gasoline for a car rental or food for a hotel stay. Even a pay-at-the-pump transaction can cause a $100 block to be placed on a card. These blocks or "holds" can cause for some rather difficult times if you unknowingly end up in the bad situation.

Suppose you are flying to Las Vegas for the weekend. Assuming you have not yet acquired high-roller status, you will need to reserve a flight, car rental and hotel room.

Each of these reservations will cause a block to be placed on your ever-faithful rewards credit card. Then in an effort to smooth-over the news of your impending excursion, you take your significant other to the finest restaurant in town. Just think of that situation when waiter lets you know that your credit card is blocked.

Another, and even more heinous scenario, would have the person securing these future charges with a debit card. With every reservation a block is placed on the checking account underlying the credit card. Then the flowers, dinner, cab fare and concert tickets would have all generate separate overdraft charges. No need to tell you any checks clearing during the time the blocks are in effect. Ouch.

Always maintain a balance well below the usable limit of your credit card to avoid any blocking problems. Although this is wise advice it may not always be practical considering the somewhat varying amounts and timing of the blocks. Do not make your reservations from debit card. Ever.

A better way to avoid this trap is to keep an extra another credit card with you. A method employed by many, a spare credit card can be used to place all the reservations thereby protecting the available credit of your preferred card. Then when the actual charges are made the favorite card can be used and any rewards can be accumulated. An additional benefit is the block transactions provide activity on the spare card furthering its value as a tool to enhance your credit score.

Like many credit related issues, knowledge and a little foresight can go a long way in preventing unexpected problems and expenses. Now since you know about credit block, it is the time for a action to make sure you do not fall into the trap of credit block.

Credit Card Debt Problems

In recent years credit card debt has become a problem for many millions of people; as they are accepted at almost any establishment, spending on them has increased dramatically. With the debts rising, it is not surprising that individuals have started to realize the financial problem they have created by the constant and indiscriminate spending they have carried out. Generally speaking the only way out of this predicament is by using a credit card debt relief solution.

The card holder must cease using it whilst he or she finds an option or the situation will just get worse and will never be resolved. Once this has been achieved, finding a credit card debt relief option will all the much easier, but whatever the situation, this must be carried out first. The most frequent methods of debt consolidation are shown below.

The easiest method of debt consolidation is where the person still has a good credit rating and uses another credit card that has a low rate of interest where all the debts can be transferred to one card. Consolidation loans are becoming popular as all the debts can be replaced with just one amount which should be considerably easier to pay on a regular basis.

This option does require a certain level of commitment on the debtor's part as once the debts are clear there must be no temptation to use them again. Remember, consolidation by card or loan will only work if the debtor has not already damaged their credit history.

When the situation or poor credit rating occurs, credit card debt relief is unlikely; then it will probably be necessary to contact a company that specializes in negotiating settlements. The negotiations usually mean that a set amount of the debt, normally half, will have to be repaid and the remainder written off.

However, if this option fails then the only option left is to file for bankruptcy which will clear all the debts but this should never be viewed upon as the easiest or first option as there are negative aspects to consider. The debts may be clear but they will find it hard to get any form of credit for a long time and will have to rebuild their credit history from scratch although it does enable them to have a fresh start. However, the debtor must remember that opting for debt relief from their credit cards cannot become a regular feature and must be careful not to get into such a situation again.

Standard credit cards

Standard cards are the most typical unsecured credit cards and are readily available from most banks and financial groups. Where they vary is in how the annual percentage rate (APR) is offered or calculated.

Balance transfer credit cards

These are designed to allow consumers to transfer a balance from a higher-interest credit card or cards onto one with a lower interest rate. For example, if you transfer a balance to a credit card with a 0 percent introductory rate percent , you will pay no interest as long as the introductory period lasts. percent Terms of balance transfer credit cards vary, so be sure to understand the offer.

Low-interest credit cards

These offer either a low introductory rate that rises after a certain period, or a low fixed rate. For example, you may get a card with an introductory rate of 5 percent for the first six months and 10 percent thereafter. For the first six months, any purchases you make balance you transfer will be charged a 5 percent rate. However, any balance that you carry past the six-month period, or any new purchases outside that period, will then be subject to a 10 percent rate percent. Many people take advantage of introductory rates to lower the cost of borrowing on expensive items. Be sure to read all the terms and conditions of the introductory rate to avoid being penalised by fees or accumulated interest.

Credit cards with rewards programmes

These usually reward cardholders with incentives, rebates and even cash back for purchases made on their cards. Users can get additional airline miles, cash-back rewards or discounts on merchandise for each pound spent. Rewards cards usually require a better-than-average credit rating.

Travel/airline credit cards

Airline mile or frequent-flyer cards give users airline (or frequent flyer) miles credits whenever the card is used. Once enough points are accumulated, users swap them for airline travel. All travel programmes are different; read the card’s terms and conditions to find out how many miles you gain for what you spend. A key consideration is how many miles are needed for a free plane ticket. In addition, find out how soon the miles expire. Because airline mile reward programmes can be costly for credit card companies, many come with an annual fee.

Who should use travel/airline credit cards

These cards are great for people who travel frequently or for those who want to use their cards to plan vacations, but the associated fee might make them too costly for other types of cardholders.

Cash-back credit cards

These give cash rewards for making purchases. More use means higher rewards. Most cash-back rates are around 1 percent of the purchase amount. Some cards offer a higher cash-back percentage with increased usage; others offer more cash back at selected retailers or for specific purchases. Since cash-back programmes are costly to credit card companies, some cash-back credit cards also have annual fees.

Who should use cash-back credit cards

This type of card is particularly good for people who are faithful about paying off their balances each month. Used appropriately, cash-back credit cards can earn cardholders a significant amount of money over time.

Reward credit cards

These cards are similar to cash-back cards in that users can accumulate points toward rewards, based on how much the card is used. Reward programmes vary and offers often change, so look over the terms thoroughly before applying. Typical rewards include: • Petrol rebates • Entertainment rewards • Shop discounts for store cards Reward programmes are costly to credit card companies; therefore, many reward credit cards also require an annual fee.

Who should use reward credit cards

This type of card is particularly good for people who faithfully pay off their balances monthly. By minimising their charges, such individuals will reap greater benefits.

Credit cards for poor credit and credit repair

Poor judgment, credit mismanagement or a change in financial situation can flip credit from good to bad. Still, people with poor or rebuilding credit have several options.

Secured credit cards

With secured credit cards, a predetermined security deposit is needed. This deposit generally must be of equal or greater value to the amount of credit offered. Collateral can come in the form of cars, boats, jewellery, stocks or something else of value. Often, cards that help to rebuild credit come with low credit limits (£250 or so). Additional fees may apply. Be sure to read the terms and conditions. Down the road, if you use the card responsibly and pay all your bills on time you can ask for a credit increase. The extra fees and low credit lines will be worth it if a secured credit card helps you get your overall credit rating back on track.

Prepaid credit cards

A prepaid card is not a credit card but is used like one. The advantage of a prepaid card is that it avoids racking up debt because all purchases are paid for beforehand. With prepaid cards, the credit limit depends on how much money is transferred to the card. Most prepaid cards charge fees, including monthly fees, application fees, over-the-limit fees, cashpoint withdrawal fees and more. Be sure to thoroughly look over the terms before applying.

Specialist credit cards

These are for customers with special credit needs, such as business users and students. These sport features similar to traditional credit cards, including low introductory rates, cash-back rewards and airline rewards. However, business credit cards also may have additional benefits such as: • Business expenses kept separate from personal expenses • Special business rewards, savings or both • Expense reporting • Additional cards for employees • Higher credit limits

Student credit cards

Because students have little or no credit history, they often find it difficult to obtain traditional credit cards. Student credit cards are set up to help them build up their credit histories. Student credit cards often scale back rewards, features and other benefits, but they can still be valuable. Used wisely, this type of card lets a student take the first step toward a solid credit history.

The friendliest credit card on the market

When you search for credit cards, you will find that there are a few which may be regarded as as friendly, but only if you play by their rules. Be aware that while credit cards can be essential modern items to have they are part of a business exchange whereby the customer and the provider can indulge in their advantages, but the provider always has the upper hand.

Having said that, the new Virgin Money card is the most transparent about the ways in which customers may default on their agreements, and perhaps has the fewest catches compared to existing credit cards. It offers a 0% balance transfer for new customers for the first 15 months from when the account is opened.

After 15 months, the interest rate will automatically kick in. When you compare credit rates with the Virgin money card and other credit cards, it comes up trumps too. The purchase interest rate is 0% for the first six months and then goes up to the standard rate of 16.6%. There is a credit handling charge of 2%, which again, compared to other credit cards is a good offer.

The little extra bonus incentives that come with any credit card can often make the difference when it comes to choice. Virgin Money made sure that it added enough sweeteners. If you are a regular shopper in Virgin superstores, then you can look forward to receiving special in-store offers. Those who like to travel will receive the obvious benefits that an instant 3,000 free air miles bring as soon as you start using your card. And for each pound that you spend, another free air mile will be added to your account. This way, at least you can console yourself that as you spend money, you are contributing towards a future holiday at the same time.

More good news is that with your card comes purchase protection for 100 days from the time you make your purchase. This ranges from £50 to £1,000, which is a comforting thought if you enjoy making expensive purchases, or just can't afford to go wrong.

Prepaid credit cards help with budgeting

Prepaid credit cards are being used by consumers for budgeting, according to Chris Reddish, chairman of the Prepaid International Forum.

Cardholders load a certain amount of money onto the cards and no more than this amount can ever be spent -- meaning there is no risk of falling into debt.

However, Mr Reddish said that he had seen some consumers go one step further and actually use the cards to control their finances.

"In one of our focus groups, we actually have a young lady who has decided to use her prepaid card as a budgeting tool," he explained.

"So she actually was putting on clothing, spending and fun money onto her card, so it helped her [to] control [her] spending and she could only spend what she'd saved."

On top of the budgeting benefit, Mr Reddish said that prepaid credit cards offer extra security for consumers.

Holders can block and unblock the card via a text message from their mobile phone, so they can make sure it is only usable while they make a transaction.

Extent of credit card debt revealed

More than a third of all unsecured debt over the past 18 months was run up due to credit card balances, EuroDebt revealed.

According to the debt management firm, average unsecured debt reached nearly £29,000 over the past year and a half, with credit cards accounting for 34% of this.

Kevin Still, EuroDebt director, added: "The analysis of a sample cross section of over 4,300 debt management plans with EuroDebt showed that typically our clients have just under three credit cards and an average balance of over £3,600 per card."

Consumers who are in debt should be wary of falling victim to scammers who seek to benefit from their predicament however. Reports have suggested an increase in loan sharking as a result of the recession, with people struggling financially and banks unable to lend.

Additionally, EuroDebt warned consumers earlier in the month about debt management firms that claim to be able to wipe out credit card debt.

Credit card offers based on credit rating

Having a poor credit rating can mean that consumers are only offered unattractive credit card deals -- or none at all, according to Defaqto.

David Black, principal consultant of banking at the financial information group, explained that the credit crunch has also hit people's chances of getting a credit card, as banks become wary of lending. "Many providers concentrate the majority of their lending on existing customers and a 'cautious approach to lending' is becoming an increasingly commonly heard phrase," he said.

"Existing customers are not immune from this process as lenders will also monitor their creditworthiness." However, consumers who do pass lenders' criteria are likely to be offered a good deal, Mr Black claimed.

In most cases, around two-thirds of suitable candidates will be able to sign up to the advertised loan rate, while the rest will be offered a higher rate, in order to cover the lender's perceived risk, he said.

One in five pensioners carry credit card debt

One in five British pensioners carry credit card debt, according to new figures from Key Retirement Solutions.

The average outstanding balance among this group stands at £8,892, with charity Credit Action warning that many are forced to use credit cards for day-to-day outgoings.

Pensioners have been hit hard by the financial downturn, with low interest rates meaning their income from savings has been severely reduced. Rising food and fuel prices have also meant that pensioners' disposable income is shrinking.

"Debt is a worry for people of all ages in the recession, but it is particularly troubling for us to see a marked increase in the problems older people face," said Chris Tapp, Credit Action director. The figures from Key Retirement Solutions also showed that mortgage debt continues to be a burden for pensioners.

A third of all pensioners have outstanding mortgage debt, with the average amount left to pay standing at £43,000 -- which requires monthly repayments of around £205.

Britons paying unnecessary credit card fees

Britons will pay more than £73m in credit card foreign exchange fees when they holiday this summer, according to Abbey Credit Cards.

The firm has conducted research that found that 57% of holidaymakers will use debit or credit cards on holiday this year, with the average person putting 41% of their spending on plastic. However, many card providers charge foreign exchange fees for using a card abroad -- typically 3% -- and after adding up the values Abbey found that £73m will be spent in total.

"Britons holidaying abroad this summer will pay out more than £73m in foreign exchange fees, a staggering and unnecessary sum at a time when people are having to manage their finances more carefully," said the head of the company, Callum Gibson. Mr Gibson suggested using the Abbey Zero card when going on holiday.

"For holidaymakers still paying off last summer's holiday, Zero offers 0% on balance transfers for 12 months, as well as 0% on purchases for three months," he explained.

Extent of credit card debt revealed

More than a third of all unsecured debt over the past 18 months was run up due to credit card balances, EuroDebt revealed.

According to the debt management firm, average unsecured debt reached nearly £29,000 over the past year and a half, with credit cards accounting for 34% of this.

Kevin Still, EuroDebt director, added: "The analysis of a sample cross section of over 4,300 debt management plans with EuroDebt showed that typically our clients have just under three credit cards and an average balance of over £3,600 per card."

Consumers who are in debt should be wary of falling victim to scammers who seek to benefit from their predicament however. Reports have suggested an increase in loan sharking as a result of the recession, with people struggling financially and banks unable to lend.

Additionally, EuroDebt warned consumers earlier in the month about debt management firms that claim to be able to wipe out credit card debt.

Credit card firms tougher on travel agents

Credit card firms are becoming less willing to deal with travel agents due to the recent collapse of several travel firms.

Independent agents have reported strained relationships with credit card providers since the collapse of travel firms Freedom and XL Leisure, Travel Weekly reports.

The legislative protection to cardholders afforded by the Consumer Credit Act has added to credit card firms' nervousness in the recession. According to the legislation, the card issuer might have to bear the cost of holidays booked with a firm that then goes out of business prior to departure date.

Financial pressures caused by the economic downturn seem to have led to some firms pulling the plug on agents in response. Kevin Dowling, director of Travelandmore, told the news source that he had had problems with his provider Barclays, which wanted to restrict its services so that credit card payments would take 30 days to process.

Mr Dowling said: "It was squeezing the life out of the company. We take a lot of last-minute bookings, so the tour operators have to be paid straight away." He added: "After spending hours on the phone to the company, explaining every aspect of the business, our usual method was restored."

Pay your taxes with a credit card

Want to pay your taxes with a credit card? Official Payments -- the payment services partner of the IRS, 26 state governments, the District of Columbia, and more than 2,000 local and municipal government agencies -- makes it easy.Visa, MasterCard, American Express andDiscover credit cards are all accepted.

Using the Official Payments Web site, taxpayers can also make payments debit cards and electronic checks.

Consumers can pay utilities, education providers and other payment collecting groups in every U.S. state with Official Payments' quick, easy and secure six-step payment process.

Consumers first choose to direct payments to the federal, state and local level. Official Payments is set up so federal payments are for all personal and business taxes due to the IRS. State payments are for all personal, business and other taxes and fees due to a state collecting authority. Local payments are for all local taxes, citations, court fees, utility bills, education costs, parks and recreation fees, permitting and licensing fees and other collection types.

The rest of the process is equally straightforward. Next, you will enter the amount of the payment for the organization you selected previously. Then, Official Payments will calculate and show you the convenience fee based on the information you provided (outlined in greater detail below), as well as their terms and conditions, which you can choose to "accept" in order to continue.

Next, you provide details about yourself and the method of payment, be it credit card, debit card or your checking account. You are then presented with your details for a final confirmation. After you confirm, Official Payments supplies you with a digital receipt.

Official Payments is authorized by its partners to charge the convenience fee to cover the processing costs of your transaction. This fee is collected directly by Official Payments, with government partners or other organizations not benefiting from it in any way.

The convenience fee for federal income tax payment is 2.49 percent of the total payment amount, including penalties or interest. For local payments like property taxes, real estate taxes, utility payments, etc., the convenience fee can vary, although you will be made aware of the fee before paying. Official Payments provides a fee calculator on its Web site to calculate the convenience fee for your payment.

There are a number of benefits to using Official Payments. Due to its partnerships with many large credit card issuers, Official Payments can offer a number of rewards (listed in the special offers area of its Web site) for online payments.

Additionally, the convenience of paying online means you can pay from anywhere a phone or Internet connection is available, while eliminating concerns of a payment getting lost in the mail or arriving late. Finally, paying by credit card lets you manage your cash flow more effectively.

Big credit card losses continue to dog U.S. banks

The banking industry has 3.4 billion reasons why credit card debt is proving to be a major pain in its neck.

Even as banks see their profits recover, a survey shows credit card losses continue to plague the industry. In its latest Quarterly Banking Profile, the Federal Deposit Insurance Corporation reported that the first three months of 2009 produced net income of $7.6 billion, the largest net profit for U.S. banks in four quarters. Nevertheless, credit card charge-offs -- the amount of credit card debt banks decide is not collectible -- surged $3.4 billion from the year earlier for a 68.9 percent increase.

The FDIC keeps tabs on the banking industry, stemming from its role as the government agency resposible for encouraging public confidence in the U.S. financial system by insuring bank deposits. The agency describes the quarterly profile as the "earliest comprehensive summary of financial results for all FDIC-insured institutions."

Banks acknowledge that they are operating in challenging times. "The earnings report released by the FDIC today demonstrates that banks are continuing to work through the problems presented by a difficult economy," said James Chessen, chief economist for the American Bankers Association trade group, in a prepared statement. Still, he said there are reasons for optimism. "Though first quarter earnings are down from what they were a year ago, they are the highest they have been in four quarters, and two out of every three banks increased their assets in the first quarter," Chessen said. Of course, billions of dollars in goverment initiatives have certainly helped get banks into the black.

Lending remains a weak spot. For all major loan categories (including loans to commercial and industrial borrowers, credit cards and real estate construction loans), net charge-offs climbed to $37.8 billion in the first quarter from $19.6 billion in the same period a year ago. Still, on a quarter-over-quarter basis, charge-offs were down from the $38.5 billion total in the fourth quarter of 2008.

Additionally, the FDIC found that credit card delinquencies increased quarter-over-quarter as cardholders increasingly made late payments. The amount of credit card loans that were 30 to 89 days past due totalled 3.09 percent in the first three months of 2009, up from 2.98 percent in the fourth quarter of last year.

Despite government initiatives aimed at boosting lending, including the Term Asset-Backed Securities Loan Facility (TALF), banks can't blame losses on their increased willingness to lend. In fact, the FDIC discovered what many consumer borrowers already know -- banks are doing quite the opposite, with the FDIC data indicating credit card card lines were reduced by $406.6 billion (or 9.9 percent) in the first quarter. That's a continuation of card issuers' ongoing approach, representing the fifth-consecutive quarterly decline in unused loan commitments. Overall, total bank assets fell by $301.7 billion as a few large banks reduced loan portfolios and trading accounts, creating a 2.2 percentage drop that is the steepest pullback in industry assets in one quarter in the 20 years for which quarterly data is available.

Meanwhile, banks posted total noninterest income that rose 12.8 percent -- to $68.3 billion in pretax earnings -- compared to the year before. Lenders also continued to set cash aside for potential future losses, with loss provisions surpassing net charge-offs by $23.1 billion as banks' loan loss reserves advanced 11.5 percent. Additionally, total equity capital of insurer institutions jumped $82.1 billion, for the largest quarterly increase since the third quarter of 2004.

Maybe that's why the industry doesn't appear too worried. "The vast majority of banks have been in existence for decades and the industry is taking prudent steps to assure that banks will continue to serve their communities for many, many more decades to come," the ABA's Chessen said.

Stores still offer credit cards

Despite a general tightening of approval standards for private label cards, the marketing of those cards continues -- even though banks wish they could be more targeted with offers. "Due to the Truth In Lending Act, we can't discriminate at the point of sale who we offer credit to," says Marc Sczesnak, president of private label issuer TD Retail Card Services.

Banks may not have much control when it comes to promoting their store cards. For some private label cards, marketing decisions -- such as whether to offer a shopper a card at the counter and how to promote cards in the store, in the mail and online -- are mostly left to the store. "How the card is offered to the customer is determined by the retailer," says HSBC's Savio. HSBC does have a role to play, however: "We work with them to integrate that card program into their marketing," she says.

Target leaves point-of-sale decisions out of human hands altogether, making use of an "intelligent system" that prompts cashiers to offer the appropriate Target financial product (if any) to guests at checkout. "This system prompts an offer based on guest behavior. It's how Target delivers a relevant offer to the guest at the right time -- ultimately resulting in a great experience for our guests," Foster says.

As a whole, economic changes could mean shoppers are subject to fewer of these marketing pitches. Beemer says that retailers are "not as aggressive as they used to be" when it comes to promoting their store credit cards. With many customers simply using the card once for the initial discount and then cutting it up, "The store doesn't see the long-term benefit that they did 10 years ago," he says.

How your monthly credit card statement will look

Federal regulators have asked credit card issuers to make monthly statements sent to millions of credit card users easier to understand. The deadline for the changes to take effect is July 1, 2010, although some issuers may roll out revamped statements sooner.

The changes that clarify statements are part of a much larger series of credit card regulation reforms passed by federal banking agencies in December 2008.

In consumer testing of credit card statements, users complained that wording was confusing, the type too small and key information missing from existing monthly statements. Testers said they liked information presented in boxes that they could clearly read.

The previous standard for credit card disclosure was the so-called Schumer box, which required key terms to be listed in a table and included in credit card offers, applications and monthly statements. The new standard is like the Schumer box on steroids, with much more details about terms and what they mean.

Here's an explanation of some of the features of the new statements, based on the Federal Reserve Board's samples. Your new statement won't look exactly like this; each credit card issuer will design its own.

10 things you must know about credit reports and credit scores

You may have heard the terms credit history and credit score. Consumers who hope to borrow money may know that the lending industry uses credit histories and credit scores to help determine whether they get approved for a credit card, loan or mortgage. But what exactly is a credit history, what is a credit score -- and why are they so important?

1. Lenders look to credit histories. Before lending money, banks and other creditors look to a consumer's credit history -- basically a record of whether or not you've paid your bills -- to make sure the borrower is likely to repay them. That credit history, contained in a consumer's credit report, determines how much credit is made available to you and under what terms, such as the interest rate.

2. Consumers should care about credit. Therefore, it's not only lenders that should care about past use of credit. "Credit reports matter to consumers because lending decisions are based on them," says Susan Thomas, spokeswoman for credit bureau Experian. "When you're applying for credit -- whether it's a credit card, a car loan, a personal loan or a mortgage -- lenders want to know your credit risk level," says Craig Watts, spokesman for Fair Isaac, creator of the popular FICO credit score. "In other words, 'If I give this person a loan or credit card, how likely is it that I will get paid back on time?'"

3. Credit bureaus track borrowing behavior. The three major credit bureaus in the U.S. are Experian, Equifax and TransUnion. These companies keep records of how you have previously behaved when loaned money, such as whether you paid it back on time, who you still owe money to and how much you may still owe. Where does that information come from? "We acquire data from public records and companies who have a relationship with the consumer and with the credit reporting agency (i.e., existing creditors, companies with whom the consumer has applied for credit and collection companies)," says Experian's Thomas via e-mail.

4. Credit reports include several types of information. Experian's spokeswoman explains that a consumer's credit report contains four types of data on the borrower: identifying information (including name, address, phone number, Social Security number, date of birth and spouse's name), account history (individual account information such as the date opened, credit limit or loan amount, balance, monthly payment, payment status and payment history), data from public records (such as federal bankruptcy records, tax liens, monetary judgments and overdue child support payments) and a record of inquiries into your credit history.

5. Some credit report information could be wrong. A look at your credit report may reveal that it contains some incorrect information. It's important to address these errors since they could hurt your ability to borrow money. If you find any mistakes on your credit report, get them fixed by contacting both the credit bureau that included the error and the creditor that supplied the inaccurate information.

6. Credit report data used to calculate credit scores. Just like a grade point average sums up all your schoolwork with a single number, your credit score sums up your borrowing history. Teachers look at your GPA to figure out where you rank as a student; lenders look at your credit score to determine how you rank as a borrower. "A credit score is a number that summarizes your credit risk, based on a snapshot of your credit report at a particular point in time," Watts says. "A credit score helps lenders evaluate your credit report and estimate your credit risk."

7. Fair Isaac's FICO score is the most widely-used credit score. Each year, billions of lending decisions are made using the FICO score created by Fair Isaac, which uses a secretive formula to convert a consumer's credit history into a three-digit number ranging from 300 to 850, with a higher number indicating a less risky borrower. "But no score says whether a specific individual will be a 'good' or 'bad' customer," says Watts. "And while many lenders use FICO scores to help them make lending decisions, each lender has its own strategy, including the level of risk it finds acceptable for a given credit product. There is no single 'cut-off score' used by all lenders," Watts says.

8. Other credit scores. Fair Isaac isn't the only company offering a credit score. For example, VantageScore, launched in March 2006, is a credit scoring joint venture between the three major credit bureaus, Equifax, Experian and TransUnion. Although VantageScore uses its own unique scoring model, VantageScore has some similarities with the FICO score: VantageScore is a three-digit number (ranging from 501 to 990, with a higher score representing a lower risk) calculated using the information in your credit report from the three major credit bureaus. However, the FICO score still remains more widely used than VantageScore by creditors when making lending decisions. Non-FICO credit scores are sometimes dimissively referred to as "FAKO" scores.

9. Credit history for free, credit score for a price. Under laws outlined in the Fair Credit Reporting Act, credit bureaus must provide consumers with a free copy of the borrower's credit report once every 12 months. AnnualCreditReport.com offers consumers the ability to request a free credit report from each of the three major credit bureaus. Meanwhile, consumers interested in viewing their credit score will need to purchase one, such as online at myFICO.com.

10. Service providers, employers may also consider your credit report. It's not only banks and credit card issuers that may consider your credit history. "Most lenders as well as many service providers and employers utilize consumer credit report information in assessing applications for credit, services and employment," says Steven Katz, director of consumer education at TransUnion's TrueCredit.com. In other words, credit histories impact more than just applications for credit -- they may also matter when you are purchasing a cell phone plan or applying for a job.

Credit card industry will have to make major adjustments to new laws, Capital One CFO says

NEW YORK — New credit card legislation is expected to have a dramatic impact on the national lending landscape, the chief financial officer of Capital One Financial Corp. said Wednesday.

Last month, President Barack Obama signed into law sweeping credit card reform legislation to protect debt-ridden consumers from surprise charges.

Speaking Wednesday at the Keefe, Bruyette & Woods Diversified Financial Services Conference, Capital One CFO Gary Perlin didn’t give specifics about how the law will affect the McLean, Va.-based lender’s costs or revenue.

Credit Card Services and Business Loans for the Small Business

To achieve financial independence, experts encourage even currently employed individuals to consider entrepreneurship. Setting up your own business, no matter how small, is touted as one of the best ways toward building the foundation for wealth. Those who are concerned about having a safety net need not take the plunge recklessly. One can start setting up a small business even while employed.

Of crucial use to small businesses are credit card services and small business loans. The entrepreneur needs to know how to avail of these tools and how to effectively wield them for maximum business growth.

The credit card company everybody hates

I just paid off my remaining credit card balance of -$2400. I was getting an average complete finance charge of $40-50/month on the balance. Ouch. It feels good to have the cards clean again, but well worth the cost to have my place looking good and ready to be fully rented. Since I won’t be kicking out my roommates I will instead rent out my bedroom and hope it works out or it could deplete my emergency landlord fund pretty quick -$600 month. My goal is to get a positive cashflow of +$200-300 coming in each month to add the emergency fund.

Best student credit card for customer service?

I'm a college student, and will like to build up my credit. I'm pretty smart when it comes to my finances, so please do not say "Do not get a credit card". I've had a bad experience with Chase mastercard customer service and would like some suggestions on other credits cards. I'm looking for a reliable company that won't give me crap.
Thank you!

There are some good ones out there specially if you are a student, check out www.fastcreditcardapprovals.com under student cards these cards have no annual fees and have low interest rates.

Student credit card

For students, the student credit cards are the best way to enter the fascinating world of credit cards. Student credit cards help the students in taking advantage of the various benefits associated with credit cards in general e.g. convenience, safety, rebates etc., much earlier in their life. Moreover, student credit cards act as training ground for students, most of whom haven’t had any experience with credit cards. The student credit cards help the students in gaining hands-on knowledge about the various aspects of credit cards and their use. Most credit card suppliers also include a small guide that helps the students in gaining a good understanding of credit cards, upfront.

Make Your Perfect Choice for a Student Credit Card

You are offered many financial credits before you earn any college credits. You should have credit with you when you’re away from home, for basic expenses. It is also needed when you are traveling from home to campus, how much credit you want depends on how long journey you have to travel.

Credit Card Laws Fall Short For Students

According to the White House, Americans' total credit card debt has reached an estimated $963 billion, a 25 point leap over the last past decade. Meanwhile, nearly half of all American families have an average amount of credit card debt over $7,000. In light of the dreary details, Obama had asked Congress to tighten the reigns on the banks by delivering legislation before a set goal of Memorial Day. The new bill, which will take effect nine months after it's signed, provides a series of stricter limits than the credit card regulations that were passed by the Federal Reserve and scheduled to go into effect in July, 2010.

Can i set up a PayPal account with a prepaid credit card?

It depends which pre-paid credit card you use.Many kind of pre-paid credit card cannt be used for paypal,just like Walmart gift card,American express prepaid card etc.

If you confirm your prepaid credit card can verify paypal then you can follow this guide to verify your paypal account.

personal credit report Complaints - a charge to my paypal credit card

I never authorized this $19.95 to be withdrawn from my PayPal charge acct. I never put my information in the system to have my own personal credit report. I want this money back in my account ASAP.

I was just going to ignore this but then asked my friend about when we went on the internet to get me a free free personal credit report and she said we never entered any information or paid money for this report. It was a freebie to me that I was lawfully allowed to have for myself atleast once a year. Since I have never pulled one for myself this year, I was entitled to one.

Nudges and Credit Card Processing

I have recently finished reading Nudge by Cass Sunstein and Richard Thaler. The book suggest strategies for enabling humans to make decisions which are in their interest, such as giving up smoking or saving more, given human shortcomings. The word humans here is important, as humans are lazy and have inbuilt reasoning biases. They many not always act in their own interest.

Taking The Confusion Out Of Accepting Credit Cards On Your Site

For most businesses this depends on the size of your business and your sales volume. Small businesses are better off with a third party credit card processor. The advantage to using a third party processor is that they will take care of everything for you - verify the card, process the payment, and send you a check at the end of each payment period minus their processing fee.

Generally, you will pay less with a third party processor because you won't have monthly fees. However, this can result in longer waiting periods to actually receive your money. Usually payouts are done weekly however some may take longer depending on the company you use. A third party processor is also convenient to use when you are not sure if you will actually profit from your business. You can always move to a more complex, more reliable service later if your business grows.

American Express Blue Credit Card - Review

The American Express Blue Credit Card is a cut above many of the other varieties of credit cards out on the market today. Absolutely loaded with advance features, it truly is a card for the tech savvy consumer. It truly is like no other credit card you will find in your wallet, and for many carrying the American Express Blue Credit Card allows them a certain piece of mind that they can't find in any other card offering any low competitive interest rate. The American Express credit card comes with a low APR rate and no annual fee, but that is just the tip of the iceberg when it comes to reasons one should carry the American Express Blue Credit Card.

It has never been so simple and easy to manage your American Express Blue Credit Card account online. It is simple to view up-to-date billing information including payments made online and transaction charges 24/7. You can also receive automatic e-mail account alerts with your American Express Blue Credit Card. These alerts are offered to help you keep track of your account activity. The automatic e-mail updates help you avoid late payments, keep tabs of your credit line, and more.

Your Year-End Summary is also available online. The Year-End Summary of charges provides one with 24-hour access to an entire year's worth of account information on your American Express Blue Credit Card. The useful and flexible features make organizing your personal expenses a breeze. You can even download a summary to print out. The Year-End Summary is an outstanding tool for getting your taxes ready and planning one's budget.

The dedicated folks at American Express Blue Card customer service are there to handle your needs. Around the clock, 24/7 they are there for you. Simply call the number on the back of your American Express Blue Credit Card should you require assistance.

Around the clock, 24/7, American Express Customer Service is there to handle your needs with the kind of service that keeps cardmembers happy and loyal for years to come. For fast and speedy service, you can call the phone number on the back of your American Express Blue Credit Card.

The American Express Blue Credit Card also features a fee-free rewards program.You can easily earn points toward fantastic rewards from the places you like to buy from. Earning one point for virtually every dollar you charge with the American Express Blue Credit Card is easy. It is always easy to enroll in the membership rewards program for cardholders at the sign up page on the American Express website.

ExpressPay is also an exciting payment service you can access with your American Express Blue Credit Card account. ExpressPay makes it super easy to pay for all those everyday quick charges with a simple swipe. This feature of the American Express Blue Credit Card allows you make purchases without having to swipe your card. If in a dash to get somewhere all you have to do is hold up your American Express Blue Credit Card to the reader terminal next to the checkout. This allows you added safety as it exposes your details to far fewer strangers than that of many of the other credit cards. This process is already set up at thousands of locations nationwide.

Why You Should Not Cancel Your Credit Cards

If you have ever been having problems with credit cards, you'll notice that there are usually more than one card involved. The average scenario is always getting more and more cards until you can no longer repay what you owe. Sounds familiar?

Disciplined people who have managed to pay off a card debt will want to cut their card and never to use them again. What better ways are there to ensure that new debts are not created while you settle old ones? Besides, this is a good thing as it mark a milestone of your debt elimination effort and it is satisfying to say the least.

Apart from just destroying the card, some people go all out to cancel the card once and for all. Now, this is where most people don't realize that they could be doing more harm than good. Much more. Why? How does it make any difference when you are not going to use that card anyway?

It is safe to say that as you work towards paying off your debts, you are also working towards improving your credit score. Canceling a credit card, even after you have cleared it, reflect badly in your credit record. To understand this, you need to know how credit rating works.

A big part of credit rating are determined by the amount of credit facility at your disposal and the your debt. If you have 3 cards with $3000 limit each, you have a credit facility of $9000. Let's say you already used up $7000 of this facility. That's 80 (outstanding $4000 out of facility of $9000). Do celebrate and cut your card if you wish. Cutting your card can also stop you from using it to create more debt again.

But at this point, if you cancel your card, your credit used percentage will jump back up to nearly 70% (outstanding $4000 out of facility of $6000). See the difference? When you cancel your credit card, you lose credit facility which in turn effect your credit rating.

Dealing with debts and money can suck away your energy and leave you drained, especially when you are not familiar with the way money works.

However, this situation can be reversed if you finally understand the concept and begin putting it to work. At this point, coming to terms with your financial situation and debts give you the power to mend the situation. Using the information in this article for instance, you can repair your credit score without having to pay more than you already did.

How to Avoid Getting Scammed With Bad Credit Credit Cards

When looking for a bad credit credit card, it is very important to do extensive research and comparison. Even if you have poor credit, that doesn't mean you should settle for cards with unfair rates and deals. In this article, let's talk about some tips to help you avoid poor credit card scams.

The Best Credit Cards for People with Bad Credit

These type of cards are designed for people with poor credit history. These cards do not have strict standards, particularly when it comes to your credit score. However, not all cards for poor credit offer a good deal.

Since each card has its own set of rules and conditions, it is up to you to examine the rules of your chosen card. Watch out for those that offer very low interest rates yet with hidden charges and too many restrictions. The only way you can make sure of that is if you take the time to read the complete Terms & Conditions of the card.

Aside from comparing the interest rates, don't forget to check the other credit costs such as the annual fee, late penalty fee, over-the-limit fee, etc. Furthermore, if the interest rate is based upon the Prime Rate, you should know that it is bound to change at any time.

It is also a must to choose a card that will report your payments to the three major credit bureaus. Don't forget that the only way you can rebuild your credit history is to have your payments are promptly reported. Take note that these type of cards have this provision.

Are you allowed to upgrade your account to a non-secured credit card after a year of consistent payments? Some bad credit credit cards will automatically upgrade your account while you may have to request other card issuers for this option. Obviously, it is crucial for you to submit your payments on time if you really want to boost your credit rating.

Lastly, spend time weighing your choices. Since it's easy to get approved for this type of card, you don't have to worry about getting rejected. However, you'll want to make sure that you'll be signing up with the right card and that you will not be taken advantage of. Spend time reading and understanding the complete list of terms and conditions. Some terms may not be clearly stated in the advertisement page. You'll want to make sure that there are no vague clauses or hidden charges associated with your bad credit credit card.

Do Cash Back Credit Cards Mean Money in the Bank?

There is no better way to win consumer loyalty than paying them to shop. Cash back credit cards aim to do precisely this. A percentage of every purchase you make is set aside as points. Once you hit a certain number of points, you get it back as cash! You could use it to pay off part of your credit card bill, or even have it credited to your bank account. While most cash back credit card companies give cash back at the rate of 1% or less, you could find one with higher rates as well.

How It Rebates Work

Customers love cash back credit cards and that helps build strong customer loyalty, providing a lucrative proposition for both the card companies as well as their customers. A customer will be more inclined to use a particular credit card for all of his shopping needs once he is sure to get back a significant amount of cash from his purchases. In fact, he might even continue with one service provider over time for this very reason. The more money you spend on your credit card over a longer period of time, the more money that card issuers can make with this incentive provided to consumers.

When you enroll for a cash back credit card program, make sure you know how many dollars you have to spend in order to start receiving rebates. This is primarily because you may end up being locked into a long-term plan with the credit card company without tangible benefits.

Where to Find a Card

Ask your credit company if they offer a cash back rebate feature on your current card. There may be incentives that you are not even aware of so be prepared to do some groundwork regarding cash back offers.

If you are in the market for rebate credit cards, here are some tips to help you compare and choose the best one for you:

1) Identify your daily expenses or priority purchases. Choose a cash back scheme that pays you for purchases you would normally make anyway. The right card for you is the one that gives you cash back service on all your purchases.

2) Don’t be blinded by the highest percentage of cash back. This may not always be the best deal. Some cards offer you up to 5% cash back, but only on certain purchases, or purchases from select merchants. If those are not purchases that you would normally make, it is not going to be the right card offer for you.

3) Pick the cash back card that suits you best. Some give you immediate discounts on your purchases, some reduce your account balance by the amount of your benefit and some send you checks or gift vouchers periodically.

4) If you like having a bonus check to spend, choose a card that pays out a semi-annual or even an annual dividends check.

5) A gas cash back credit card can help you save every time you fill up, offering cash discounts on every gallon of gas that you buy. In addition, many also give you rebates on any purchases made at gas station convenience stores as well.

6) Cash back credit cards that pay you a rebate for every purchase generally offer a lower percentage savings, typically around .5 to 1%. Don’t let this discourage you. This can add up to considerably more cash back for you in the long run if you don’t typically patronize a very specific select group of merchants.

7) If you do tend to frequent particular shops or retailers, you may find a cash back credit card that rewards you for purchasing from just those merchants specifically.

8) Make sure to compare credit card rebate offers online to be sure you are getting the best APR and rewards features for which you can qualify.

9) Know the difference between a limited use card and traditional all-purpose credit cards. The former are only valid at a select group of merchants. Not only are you confined to the premium prices charged by the member merchants, you are more likely to pay premium interest rates of interest in comparison to credit cards.

Are Rebate Credit Cards the Right Choice For You?

If you wish to earn rewards, then credit card rebates should be perfect. Cash rebates will depend on the frequency with which you use a card at the vendors, merchants and retailers that are partnered with the card issuer. This makes it critical that the associated merchants and retailers connected to the card offer absolutely suit your needs and desires. Keep in mind that not all of the products you wish to buy will qualify for rebates. Some specific product categories may also attract lower rates of cash back.

Another thing to be alert about is whether there are any maximum limits on your card. Many companies will limit the rebate amount that you can earn to a certain amount per year.

If you keep all this in mind, and can present a healthy credit history to a credit card company, you could be on the road to some healthy rebates and large amounts of money in your bank account.