Bankur.com - Personal Finance and Investing Advice » credit card http://bankur.com Educating the Masses on Personal Investments Sun, 14 Nov 2010 05:57:15 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Prepaid Master Card http://bankur.com/prepaid-master-card/ http://bankur.com/prepaid-master-card/#comments Wed, 25 Mar 2009 02:26:08 +0000 Banker http://bankur.com/?p=138 Prepaid master card
Prepaid cards are the recent growing trend nowadays. Not only a trend but also safer to carry without even bothering about losing or some stealing it from you. Pre paid master cards are very sophisticated form of carrying cash. You can load the card with some prescribed amount and you can use the card till the money in the card is used and then again you can reload the card with money. You don’t have to be scared of the monthly bill or over dues because you are using your money and not on the banks credit. If you have money you can reload it or you can wait till you earn and then load. Most of the banks provide pre paid master cards these days in the motive of making life easier for customers.
There are many types of pre paid cards to choose from. First is the general purpose card which can use like your debit cards. You can use it if you have money loaded in the card. Most of the shops which accept credit card also accept pre paid master cards.
One more use of this pre paid master card is you can use it for gifting purpose. You can load some amount of money and gift to your loved ones. Now they can use it wherever they want. Some banks even allow you to customize the card and send it to your friends or relatives.
One more form of pre paid master card is it can be used as travel cards. You don’t have to afraid of carrying lot of cash in your pockets when you travel abroad. This is an alternative to travelers check as well.

]]> http://bankur.com/prepaid-master-card/feed/ 0 Master Card Credit Card http://bankur.com/master-card-credit-card/ http://bankur.com/master-card-credit-card/#comments Sun, 15 Mar 2009 01:39:25 +0000 Banker http://bankur.com/?p=125 Master card credit card

Credit cards are already popular among people these days. People tend to move towards safer ways of handling cash rather than carrying it in their pockets all through their travel. One such comfort is the use of master card credit card. Most of the banks offer credit cards especially master cards. Depending on the bank and the geographic location the offers and interest rates differ and vary.
Most of the banks do not collect any annual fee or membership fee for possessing the card. This is a new offer almost all the bank have this on their offers list.
The banks offer discounts coupons to various retail outlets when they use the master card credit card. The retails outlet might be an antique shop or restaurant or a jeweler shop and there is not specific type of store.
Adding to the comfort most banks offer online tracking and transaction operations that too free of cost which means you don’t have to reach out the bank, stand in queue for anything related to your credit card. Also to pay back we just need to drop the checks in the drop boxes placed around the places mostly in ATMs and authorized dealers. The interest rates are also not imposed on the customer till certain number of days. Some banks offer up to 45 days of paying back the money.
In some banks they have points earning schemes where the card earns one point if you spend 1 dollar in a retail outlet. Some banks even offer 2 points. These points can redeemed for gifts based on the number of points that you have earned.

]]> http://bankur.com/master-card-credit-card/feed/ 0 Credit Card Debt Management http://bankur.com/credit-card-debt-management/ http://bankur.com/credit-card-debt-management/#comments Thu, 12 Mar 2009 04:21:49 +0000 Banker http://bankur.com/?p=85 Credit card debt management

Credit card debt is a kind of unsecured consumer debt. The debt arises when the client of a credit card company buys an item or a service through the credit card and he is unable to pay back the money, he spent. When a person doesn’t pay the money back to the credit card company he is charged with late penalties and his credit card account is said be a default account.

When the person owning the credit card is unable to pay back the money he invested through credit card to the company, the consumer gets late in payments eventually raising the rate of paying and it is called ‘Universal default.’

Over a period of time, the credit card amount, interest rate and penalties accumulate to a high value. In cases where a credit card client has to pay late charges with high annual percentage rates and he is unable to pay the money back, he declares bankruptcy.

On declaration of bankruptcy the credit card companies are forced to issue forgiveness to the client and the companies may have to forgive all the debts of the client unless the discharge of debt is challenged legally by creditors. The bankruptcy laws forces credit card companies to forgive clients who are not paying back the money and hence many companies oppose the current procedure of bankruptcy declaration.

The process of forgiveness brings losses to the credit card companies and the companies prefer to get into a deal with the card holder. The credit card companies provide the credit card client with offers such as reduction in APR, removal of late fee penalties or re-aging of the account to get payment from the client.

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