A prepaid credit card or a prepaid debit card is similar to a normal credit card, except that it comes without any credit provision by the card issuer. It has a pre-determined card limit and the cardholder has to recharge or pre-load his account by depositing money in it. Therefore, it is also called a Stored-Value Card.
Prepaid credit cards are available in a number of forms, including a multi-purpose prepaid card, non-reloadable or gift card, prepaid travel card and payroll card.
Prepaid Credit Card Features
The basic features of a prepaid credit card include:
* It carries a brand name (MasterCard, Visa, Discover or American Express).
* It can be issued to people with a bad credit history.
* Cash can be withdrawn with a prepaid credit card from any ATM machine.
* It has a 100% approval rating as it does not require any credit checking.
Friday, September 16, 2011
Virtual Credit Card
A virtual credit card is a disposable payment card that can be used to make purchases or payments over the Internet. These cards provide inherent protection to cardholders, since the user is provided a new credit card number every time s/he makes a purchase on the Internet. This is why this card is sometimes also called the "single-use card numbers."
Virtual credit cards are available as the MasterCard Gift Cards (by MasterCard) and Virtual Visa Gift Cards (by Visa), and work in a way that is similar to an online gift voucher. Virtual credit cards are issued by most credit card issuers and major banks.
Virtual credit cards are available as the MasterCard Gift Cards (by MasterCard) and Virtual Visa Gift Cards (by Visa), and work in a way that is similar to an online gift voucher. Virtual credit cards are issued by most credit card issuers and major banks.
Credit Card Comparison
With so many credit card companies offering competitive deals on credit cards, a good credit card comparison is the only way to select the best credit card for your needs and get a good deal. When you do your homework and compare credit cards before applying for one, you can avoid unneccessary fees.
Credit Card Comparison: Benefits
A credit card comparison helps you search for a credit card that best suits your needs. By comparing several credit cards, you can:
* Minimize your monthly credit card bills.
* Increase your credit card limit.
* Select a card that can best cater to your spending habits and lifestyle.
* Find a good deal with low interest, no annual fees and rewards.
What to Consider when Comparing Credit Cards
When you compare credit cards, consider:
Credit Card Comparison: Benefits
A credit card comparison helps you search for a credit card that best suits your needs. By comparing several credit cards, you can:
* Minimize your monthly credit card bills.
* Increase your credit card limit.
* Select a card that can best cater to your spending habits and lifestyle.
* Find a good deal with low interest, no annual fees and rewards.
What to Consider when Comparing Credit Cards
When you compare credit cards, consider:
Business Credit Cards
Introduction to Business Credit Cards
Business credit cards are a great source of capital for corporate and small businesses . The credit cards come in handy, especially for start-up businesses that need easy and instant access to cash and credit. Many successful businesses started their ventures on a business credit card - in some cases, clever entrepenuers start a business solely on business and personal credit cards.
Sergey Brin and Larry Page, the entrepreneurs of Google used credit cards to buy second hand computers and open source software. Credit cards acted as the principle source of capital for Google. A company that went on to become one of the world's biggest corporations.
Applying for Business Credit Cards
Before applying for a business credit card, a customer must prepare a payment plan in advance to avoid any unnatural debt accumulation. This would include :
• Tracing the source of money for regular debt payment
• Realistic estimation of the affordable limit of debt
• Prior planning of paying more than the minimum monthly payment amount for gradual decrease of the outstanding debt .
Business credit cards are a great source of capital for corporate and small businesses . The credit cards come in handy, especially for start-up businesses that need easy and instant access to cash and credit. Many successful businesses started their ventures on a business credit card - in some cases, clever entrepenuers start a business solely on business and personal credit cards.
Sergey Brin and Larry Page, the entrepreneurs of Google used credit cards to buy second hand computers and open source software. Credit cards acted as the principle source of capital for Google. A company that went on to become one of the world's biggest corporations.
Applying for Business Credit Cards
Before applying for a business credit card, a customer must prepare a payment plan in advance to avoid any unnatural debt accumulation. This would include :
• Tracing the source of money for regular debt payment
• Realistic estimation of the affordable limit of debt
• Prior planning of paying more than the minimum monthly payment amount for gradual decrease of the outstanding debt .
Gold Credit Cards
A Gold credit card is usually preferred by credit card holders who have a high spending limit. Both Visa and MasterCard offer gold credit cards that are premium credit cards. These cards are accepted globally by both online and traditional merchants.
There are number of facilities that are available with Gold Credit Cards:
* Low Interest Option
* Cash Back on Fuel Purchasing
* Travel Cash Back
* Net Banking
* Repayment Cheque Pick-ups
Low Interest Option:
There are many options available in this credit card. While transferring balances one can choose from various options that are made available to the customers by the Credit Card Gold.
There are number of facilities that are available with Gold Credit Cards:
* Low Interest Option
* Cash Back on Fuel Purchasing
* Travel Cash Back
* Net Banking
* Repayment Cheque Pick-ups
Low Interest Option:
There are many options available in this credit card. While transferring balances one can choose from various options that are made available to the customers by the Credit Card Gold.
Prepaid Credit Card
A prepaid credit card or a prepaid debit card is similar to a normal credit card, except that it comes without any credit provision by the card issuer. It has a pre-determined card limit and the cardholder has to recharge or pre-load his account by depositing money in it. Therefore, it is also called a Stored-Value Card.
Prepaid credit cards are available in a number of forms, including a multi-purpose prepaid card, non-reloadable or gift card, prepaid travel card and payroll card.
Prepaid Credit Card Features
The basic features of a prepaid credit card include:
* It carries a brand name (MasterCard, Visa, Discover or American Express).
* It can be issued to people with a bad credit history.
* Cash can be withdrawn with a prepaid credit card from any ATM machine.
* It has a 100% approval rating as it does not require any credit checking.
Advantages of Prepaid Credit Cards
Prepaid credit cards have various advantages, such as:
* It is safer and more convenient to carry a prepaid credit card instead of cash.
* It is a good substitute for traveler’s checks while traveling abroad.
* It can be issued to minors and students.
* It offers a check on spending, since there is a fixed spending limit. This helps to prepare a budget for various expenses.
* It can be used in businesses to take care of petty-cash transactions.
* It provides freedom from debt.
Prepaid credit cards are available in a number of forms, including a multi-purpose prepaid card, non-reloadable or gift card, prepaid travel card and payroll card.
Prepaid Credit Card Features
The basic features of a prepaid credit card include:
* It carries a brand name (MasterCard, Visa, Discover or American Express).
* It can be issued to people with a bad credit history.
* Cash can be withdrawn with a prepaid credit card from any ATM machine.
* It has a 100% approval rating as it does not require any credit checking.
Advantages of Prepaid Credit Cards
Prepaid credit cards have various advantages, such as:
* It is safer and more convenient to carry a prepaid credit card instead of cash.
* It is a good substitute for traveler’s checks while traveling abroad.
* It can be issued to minors and students.
* It offers a check on spending, since there is a fixed spending limit. This helps to prepare a budget for various expenses.
* It can be used in businesses to take care of petty-cash transactions.
* It provides freedom from debt.
Charity Credit CardsCharity Credit Cards
Charity cards have the same features as conventional credit cards, besides serving a charitable cause. Charity credit cards are designed such that whenever a purchase is made using them, a certain percentage of the amount is donated to a specific charity. This charitable organization and the percentage of contribution are established by the card issuer.
Charity Credit Card Benefits
Charity cards have the following advantages:
* Automatic setup: The donation can be automatically set up to an individual’s favorite charity, without the need to approach the organization directly and follow a lengthy payment setup procedure. Moreover, most charity credit card issuers match the cardholder’s contribution, thereby doubling the value of the donation.
* Low APR: Charity cards have lower APR rates than standard credit cards, usually around 17%.
* Rebates: Some charity cards facilitate discounts and rebates at the partner stores of the issuer. Additionally, some cards offer reward points that can be redeemed for gift cards and merchandises.
Charity Credit Card Limitations
Some drawbacks of a charity card are:
* High interest rates: Though the APR is lower than standard credit cards, there are others, such as the life balance APR credit card, which have even lower APRs.
* Low donations: The amount contributed to a charity tends to be very low, which is usually just 0.25% to 1.25% of the amount spent with the card.
* Transfer fees: Most charity credit cards offer a zero balance transfer rate. However, these cards typically charge a transfer fee, which can either be a fixed amount or a percentage of the card balance, generally around 3%.
Moreover, most charity cards charge an annual fee and offer less incentives than a regular ‘miles’ or ‘cashback’ rewards credit card.
Charity Credit Card Benefits
Charity cards have the following advantages:
* Automatic setup: The donation can be automatically set up to an individual’s favorite charity, without the need to approach the organization directly and follow a lengthy payment setup procedure. Moreover, most charity credit card issuers match the cardholder’s contribution, thereby doubling the value of the donation.
* Low APR: Charity cards have lower APR rates than standard credit cards, usually around 17%.
* Rebates: Some charity cards facilitate discounts and rebates at the partner stores of the issuer. Additionally, some cards offer reward points that can be redeemed for gift cards and merchandises.
Charity Credit Card Limitations
Some drawbacks of a charity card are:
* High interest rates: Though the APR is lower than standard credit cards, there are others, such as the life balance APR credit card, which have even lower APRs.
* Low donations: The amount contributed to a charity tends to be very low, which is usually just 0.25% to 1.25% of the amount spent with the card.
* Transfer fees: Most charity credit cards offer a zero balance transfer rate. However, these cards typically charge a transfer fee, which can either be a fixed amount or a percentage of the card balance, generally around 3%.
Moreover, most charity cards charge an annual fee and offer less incentives than a regular ‘miles’ or ‘cashback’ rewards credit card.
Hotel Credit Cards
Like most standard rewards programs, the cardholder earns points for making payments through a hotel credit card. These points can be redeemed for hotel stays or dinning at specified locations. However, most of the hotel credit cards offer wider range of rewards including air travel, holiday trips and shopping discounts.
Hotel Credit Cards: Types
Hotel credit cards are available in two versions:
Like most standard rewards programs, the cardholder earns points for making payments through a hotel credit card. These points can be redeemed for hotel stays or dinning at specified locations. However, most of the hotel credit cards offer wider range of rewards including air travel, holiday trips and shopping discounts.
Hotel Credit Cards: Types
Hotel credit cards are available in two versions:
Hotel rewards program: Many financial institutions offer hotel rewards with standard credit cards. Here, hotel benefits are a part of the bigger rewards programs. With such a credit card, consumer can enjoy various benefits across several hotel chains. A platinum credit card can provide hotel rewards for international destinations as well.
Affinity cards: These cards are exclusively prepared for qualified hotel rewards. Renowned hotel brands tie up with financial institutions to offer exclusive credit card to their customers. With an affinity hotel credit card, a consumer can enjoy benefits across all the locations of the very same hotel chain network. Again, the hotel benefits are the primary rewards. However, other rewards may follow.
Hotel Credit Cards: Types
Hotel credit cards are available in two versions:
Like most standard rewards programs, the cardholder earns points for making payments through a hotel credit card. These points can be redeemed for hotel stays or dinning at specified locations. However, most of the hotel credit cards offer wider range of rewards including air travel, holiday trips and shopping discounts.
Hotel Credit Cards: Types
Hotel credit cards are available in two versions:
Hotel rewards program: Many financial institutions offer hotel rewards with standard credit cards. Here, hotel benefits are a part of the bigger rewards programs. With such a credit card, consumer can enjoy various benefits across several hotel chains. A platinum credit card can provide hotel rewards for international destinations as well.
Affinity cards: These cards are exclusively prepared for qualified hotel rewards. Renowned hotel brands tie up with financial institutions to offer exclusive credit card to their customers. With an affinity hotel credit card, a consumer can enjoy benefits across all the locations of the very same hotel chain network. Again, the hotel benefits are the primary rewards. However, other rewards may follow.
Instant Approval Credit Card Application
Applying for a credit card has not only got easier, but also a lot faster. With instant approval credit card application available online, users can simply fill the form and get the response within 24 hours; though there are issuers such as American Express that boasts card issuance in about 60 seconds.
However, there is a limit to the instant approval process. Applicants must have a good or an excellent credit score to receive an instant response.
Tips: Instant Approval Credit Card Application
Consumers should not get influenced merely by the speed of approval process. Instead, they should focus on other areas that actually define a credit card. The following are some points to consider before filling an instant approval credit card application:
Introductory interest-free duration versus the regular APR: Consumers should look for cards that offer longer interest-free periods and lower interest rates.
Reward schemes, cash back bonuses and other offers: These features mean savings; therefore, opt for a credit card that offers rewards or cash back matching your spending habits.
Read terms and condition: Situations like theft or lost cards can severely impact your finances. Therefore, read the safety features and other details of the credit card. Many cards offer $0 liability.
However, there is a limit to the instant approval process. Applicants must have a good or an excellent credit score to receive an instant response.
Tips: Instant Approval Credit Card Application
Consumers should not get influenced merely by the speed of approval process. Instead, they should focus on other areas that actually define a credit card. The following are some points to consider before filling an instant approval credit card application:
Introductory interest-free duration versus the regular APR: Consumers should look for cards that offer longer interest-free periods and lower interest rates.
Reward schemes, cash back bonuses and other offers: These features mean savings; therefore, opt for a credit card that offers rewards or cash back matching your spending habits.
Read terms and condition: Situations like theft or lost cards can severely impact your finances. Therefore, read the safety features and other details of the credit card. Many cards offer $0 liability.
Virtual Credit Card
A virtual credit card is a disposable payment card that can be used to make purchases or payments over the Internet. These cards provide inherent protection to cardholders, since the user is provided a new credit card number every time s/he makes a purchase on the Internet. This is why this card is sometimes also called the "single-use card numbers."
Virtual credit cards are available as the MasterCard Gift Cards (by MasterCard) and Virtual Visa Gift Cards (by Visa), and work in a way that is similar to an online gift voucher. Virtual credit cards are issued by most credit card issuers and major banks.
Virtual Credit Card: Features
Although a virtual credit card is very similar to a regular credit card, it has several distinguishing features, such as:
* It works like a prepaid card, where the credit limit equals the amount you want to be available on the card.
* A new credit card number is issued every time a cardholder wants to make a purchase. Thus, there is no possibility of your credit card being used fraudulently.
* Cardholders can set the monetary limit and the expiry date for their virtual cards.
* While the virtual number of a card is linked to a real credit card number, only the cardholder has the knowledge of this information.
Virtual credit cards are available as the MasterCard Gift Cards (by MasterCard) and Virtual Visa Gift Cards (by Visa), and work in a way that is similar to an online gift voucher. Virtual credit cards are issued by most credit card issuers and major banks.
Virtual Credit Card: Features
Although a virtual credit card is very similar to a regular credit card, it has several distinguishing features, such as:
* It works like a prepaid card, where the credit limit equals the amount you want to be available on the card.
* A new credit card number is issued every time a cardholder wants to make a purchase. Thus, there is no possibility of your credit card being used fraudulently.
* Cardholders can set the monetary limit and the expiry date for their virtual cards.
* While the virtual number of a card is linked to a real credit card number, only the cardholder has the knowledge of this information.
Small Business Credit Cards
Small Business Credit Card is a boon to the new small business es. It helps the firm in managing the working expenditures. Small Business Credit Card provides finance for making purchase s and act as a short-term credit source. In addition, the records generated due to each purchase helps the entrepreneur in tracking expense s and consequently facilitates to manage his finance s in a more efficient manner.
Advantages of Small Business Credit Card:
* Expense s can be tracked in an efficient manner through tracking the periodic bills on each purchase .
* Facilitates an entrepreneur with quick buying power.
* Monthly payment of the outstanding debt gives the entrepreneur with interest free short term loans .
* Many Small Business Credit Card offer incentive s to the large transactors for higher end purchase s.
* Almost all credit issuing companies offer wide range of Small Business Credit Cards with unique characteristics. But for an entrepreneur, who is initiating a new business , always need such a credit card which serves his purpose best. Hence, he is required to do a homework of the following things for proper selection of credit card :-
* The entrepreneur should be conversant with his needs. Otherwise he would not be able to choose the right credit card in accordance with his requirements.
Advantages of Small Business Credit Card:
* Expense s can be tracked in an efficient manner through tracking the periodic bills on each purchase .
* Facilitates an entrepreneur with quick buying power.
* Monthly payment of the outstanding debt gives the entrepreneur with interest free short term loans .
* Many Small Business Credit Card offer incentive s to the large transactors for higher end purchase s.
* Almost all credit issuing companies offer wide range of Small Business Credit Cards with unique characteristics. But for an entrepreneur, who is initiating a new business , always need such a credit card which serves his purpose best. Hence, he is required to do a homework of the following things for proper selection of credit card :-
* The entrepreneur should be conversant with his needs. Otherwise he would not be able to choose the right credit card in accordance with his requirements.
USA Gold Credit Card
Benefits of USA Gold Credit Card
People in USA who possess a bad credit record may be wanting to reestablish their reputation and they have a great chance of doing so with USA Gold Credit Card. People with bad credit record do not have many options to choose credit cards in the market. They often face a start up fees ranging from almost $200 to $400 for their credit cards. This is where USA Gold Credit Card is better than various regular cards. The USA Gold Credit Card imposes start up prices less than $150. The USA Gold Credit Card also provides its customers interest free charges as well as zero annual fees.
There is another option that the USA Gold Credit Card provides which is known as the no credit turndowns and no credit verification. Since there is no verification of credit records and also no turndowns ,almost anybody can go for USA Gold Credit Card though there are some rules and regulations that need to be taken care of.
People in USA who possess a bad credit record may be wanting to reestablish their reputation and they have a great chance of doing so with USA Gold Credit Card. People with bad credit record do not have many options to choose credit cards in the market. They often face a start up fees ranging from almost $200 to $400 for their credit cards. This is where USA Gold Credit Card is better than various regular cards. The USA Gold Credit Card imposes start up prices less than $150. The USA Gold Credit Card also provides its customers interest free charges as well as zero annual fees.
There is another option that the USA Gold Credit Card provides which is known as the no credit turndowns and no credit verification. Since there is no verification of credit records and also no turndowns ,almost anybody can go for USA Gold Credit Card though there are some rules and regulations that need to be taken care of.
Corporate Credit Card
A corporate credit card allows businesses to exercise better control over their travel, entertainment and other business-related expenses. Most large business owners find it difficult to keep track of their business expenses when they use personal credit cards to access a line of credit. The only way to avoid confusion at a later date is to use a corporate credit card, which is issued only to corporations, government entities and non-profit organizations. A corporate credit card eases the procurement of goods and services by simplifying the payment procedure.
Corporations can provide these corporate credit cards to its employees to keep track of their business expenses. Cards that are issued to employees are also called corporate charge cards. Corporate credit cards are issued by large financial institutions or banks.
Corporate Credit Card: Features
A corporate credit card is rarely advertised in traditional media, since it is available as a custom-made option, rather than a prepackaged product. The other features of corporate credit cards are:
* The repayment terms are very similar for the small business credit card account holder. The payments can be made on a monthly, bi-monthly or quarterly basis.
* The interest rates can range from 12% to 29%, which is substantially higher than that for small business credit cards or personal lines of credit. This difference is primarily due to high credit limits.
* The annual fee for such cards is low.
* The maximum credit limit on these cards can range from $50,000 to millions of dollars.
Corporations can provide these corporate credit cards to its employees to keep track of their business expenses. Cards that are issued to employees are also called corporate charge cards. Corporate credit cards are issued by large financial institutions or banks.
Corporate Credit Card: Features
A corporate credit card is rarely advertised in traditional media, since it is available as a custom-made option, rather than a prepackaged product. The other features of corporate credit cards are:
* The repayment terms are very similar for the small business credit card account holder. The payments can be made on a monthly, bi-monthly or quarterly basis.
* The interest rates can range from 12% to 29%, which is substantially higher than that for small business credit cards or personal lines of credit. This difference is primarily due to high credit limits.
* The annual fee for such cards is low.
* The maximum credit limit on these cards can range from $50,000 to millions of dollars.
Student Credit Cards
Student Credit Card is meant for students who have attained the tender age of 18 years. For qualification, a student does not need a income-base to apply for the student credit card. They can get hold of a fairly high credit limit even though they are not earning enough to payoff the outstanding debt.
But a note of caution must be given to those students who are planning to get hold of this type of credit card. A student must try to payoff the outstanding date within the specified time limit, most preferably on a monthly basis, in order to get a good credit rating. A good credit rating helps a person to apply and access further loans and credits in the future. The higher the credit rating, easier will be for the concerned person to get a loan.
But most of the time it has been observed that the students (high school or college) have a propensity to spend more than their capacity and are unable to pay for the accumulated outstanding within time. This leads to a poor credit rating from the bureaus of credit rating. This may hamper their prospect for qualifying for future credits and loans. Hence, utmost caution should be taken for avoiding such catch 22 situations. So, the best way to avoid such circumstance is to keep the outstanding balance low and to payoff the arrears within time. The ideal way to be on the safe side is through paying the debts on a monthly basis.
But a note of caution must be given to those students who are planning to get hold of this type of credit card. A student must try to payoff the outstanding date within the specified time limit, most preferably on a monthly basis, in order to get a good credit rating. A good credit rating helps a person to apply and access further loans and credits in the future. The higher the credit rating, easier will be for the concerned person to get a loan.
But most of the time it has been observed that the students (high school or college) have a propensity to spend more than their capacity and are unable to pay for the accumulated outstanding within time. This leads to a poor credit rating from the bureaus of credit rating. This may hamper their prospect for qualifying for future credits and loans. Hence, utmost caution should be taken for avoiding such catch 22 situations. So, the best way to avoid such circumstance is to keep the outstanding balance low and to payoff the arrears within time. The ideal way to be on the safe side is through paying the debts on a monthly basis.
Cash Credit Card
A cash credit card can turn out to be a nightmare more than a utility if it is not used properly. With the added charges and interest rates, cash advances should be the last option for users to go ahead with. Ideally, the use of cash advances should be resorted to only when there are no options left.
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