Finance Marketing Business

Credit card fraud is rife these days and no, its not all on the internet as many of us think it is. Very often it occurs in a store or a restaurant, even though we may think this not to be possible. Lets look at the facts.

It can be argued that now it is safer to use your credit card on the internet via a secure order form (SSL) than it is to use it in a restaurant, which most people would choose not to believe. This is called “skimming”. So, lets say you have your meal and hand over your card to the waiter for payment. They then take the card and within a minute its back in your possession.

So how can we be the victim of offline credit card fraud? Nothing new here – its called “skimming”. What is skimming? Its where, for example, you give your card to a waiter or waitress in a cafe or coffee shop to make payment. Shortly they return your card to you and you think nothing more of it. What has happened though is that the card has been “swiped” for payment, not once but twice. So your card details are now being stored in a magnetic card reader which can then be downloaded to a computer for use.

To prevent this from happening on your account – or rather not to prevent, but to be aware – is to check up your statements very regularly. Not only to check them but go through them very carefully too. Thieves often make very small transactions to try to fool us into thinking nothing about them, so its sensible to query even small transactions on your statement.

Due to the increase of credit card fraud over the past number of years, banks have in place higher security measures and also better compensation plans for those unfortunate enough to have experienced it.

Nevertheless, here are a few tips to keep in mind when using your credit card:

- any thing other than your credit card statements or any other valuable document pertaining to your credit card you should shred or burn. Do not just simply throw it in the bin and presume it will be safely disposed of

- if you are asked to verify some of your credit card details over the telephone, you need to question this seriously. Who is the caller and why do they need your details and do you trust this person enough to provide the details?

- do not lend you credit cards to anyone unless you trust them implicity

- only carry the credit card or cards that you need and leave the rest in a safe place

- if you use your card at a store, restaurant, shop or similar, do not leave the credit slip lying around or do not just simply put in the bucket

- check all card receipts against your card statements on a regular basis

- if you are moving home then do let your credit card company know well in advance of your move

So that’s it in a nutshell – some simple but effective measures you can take to reduce all possibilities of fraudulent activity upon your account.

Click the link for further details of low interest and 0% interest credit cards. Or if you need a debt consolidation program, you can find information about this too.

With 0% interest credit cards we have a great way to manage our finances to our benefit and not only keep money in our own pocket but make money at the same time. Lets find out how, shall we?

Interest rates were, at the turn of the millenium, at one of the all time lows and credit was being offered to almost anyone regardless of a poor financial history. Government lending in the United States had dropped to below 1% interest rates and consumer lending rates followed along likewise. This is when 0% interes credit cards really became popular.

Today however, the financial world is very different to what it was, but the 0% APR credit card is still
available to the customer, although far less widely than before. Even now though, due to the competition
between lenders, the 0% interest credit card is still available at 12 months 0% to attract custom.

Let us look at 3 ways to maximize their usefulness and minimize the downside:

- Transfer balance and consolidate: transfer of other card balances to a 0% interest credit card is a great way to gain maximum benefit. To illustrate this, if we have a balance of $6000 on other cards and are paying on average 19% interest, we could save around $1200 if we were to transfer this balance to a 12 month free interest card. Worth doing, I’m sure you agree!

- Use the time wisely: 0% interest credit cards tend to offer interest free periods of either 6 months, 12 months and occasionally up to 18 months. Lets make an illustration – if you were to transfer a $4000 balance to your new 12 month interest free card, you could invest what you would be paying to your credit card in a savings account until the 12 months is finished, at which time you pay off the card in full. Thus you have no interest to pay on the one hand and on the other, you have gained from your own savings interest rates.

Next – pay on time. Just because you are offered a 0% APR credit card does not mean that you can pay your
dues whenever you wish to. Once you miss your due date, you’ll soon find out that your remaining balance
will be subject to interest charges and penalties as your card shifts to a default rate. Better to pay on
time or you can say bye-bye to your 0% APR credit. Paying your card balance is always best before the
introductory rate expires because if you don’t then you are subject to a default rate. So be sure that you
are fully aware of your credit card provider’s terms and conditions.

Its obvious then that if you make regular purchases or wish to transfer a sizeable balance from other cards or bank loans, the 0% interest credit card has a very important part to play in your financial planning. I suspect that this form of credit card will again be amazingly popular with lenders, so take time to assess what is available and gain from all the benefits to the fullest!

Click the link for further details of low interest and 0% interest credit cards. Or if you need a debt consolidation program, you can find information about this too.