Thursday, February 11, 2010
Are the unbanked bad people?
There are over 40 million unbanked workers. Expert studies have that these are not bad people or dead beats. The reasons for being unbanked are many but the most common are: insufficient identity or current address, bad experience with previous bank account, don't trust banks, live from paycheck to paycheck, bank accounts are too expensive. One of the big reasons is brand new and caused by the Patriot Act. Banks must now have complete verification of their customers. This starts with verifying your home address. If you've recently moved, the systems the bank uses will reject you. If you don't have a driver's license or you are a recent immigrant, you are usually denied a bank account. Another big reason is something called Check Systems. This is a banking industry "black list" which is not subject to the rules of the Fair Credit Reporting Act. Banks will report you if you have had an account closed for cause or too many bounced checks. While I don't condone anyone abusing a bank account, there can be extenuating circumstances. For example, you sold a car and stupidly took a personal check as payment. It eventually bounces and you can't cover the overdraft at the bank immediately. This puts you into Check Systems database and there you will stay for at least 5 years. And, there is no way to argue with them. There is no recourse and most banks will not open an account for you if you are in Check Systems. If you are unbanked and you caused your own problem, I won't argue that you were wrong. What I blame on the banking industry is the manner in which people are treated. There is just no way to rehabilitate yourself and earn your way back to a bank account. My soapbox gets crowded sometimes but denying bank accounts is a peculiarly American situation. Governments in foreign countries recognize that people with bank accounts are less likely to evade taxes and more likely to be a good citizen. Even the Social Security Adm cannot convince the banks to open accounts for people so that their SS checks can be electronically deposited. When even the SS cannot get people badly needed bank accounts, something is very wrong.
Tuesday, February 9, 2010
Paying just the minimum amount on the Credit Card!
If one just pays only the minimum amount on the credit card, he definitely enters the favorites list of the bank. Bank’s love customers like this as this ensures the bank can charge month on month interest.
And to add on if one makes late payments, it is like cherry on the cake for the bank.
If one makes a one time purchase of 10000 and decides to make the minimum payment (5% of the outstanding) every month it will take around 90 months to have the balance reduce to 100 (@2.5% interest). If you decide to pay 500 p.m. it will take 26 months to finish off the dues and interest of 3000 would have been paid. So try to use the card as less as possible and clear of the dues as early as possible
Getting Out
1). Loan: If the amounts are huge taking a loan would be a cheaper option, as the credit card interest works out to be around 35-40% for most of the banks in India, whereas a loan even with the worst rates would be around 15-25%
2) Convert to EMI: Use this option to convert your any transactions, as the rate is much lesser. Alert here is that processing fee is charged the EMI amount is added to the minimum amount due
3) Use Balance Transfer option- That means applying for a new card and transferring your dues there. Generally the first 6 months are interest free. So it basically it means buying time to pay of the dues.
Please consult your banks for exact rates, fees, term and conditions
And to add on if one makes late payments, it is like cherry on the cake for the bank.
If one makes a one time purchase of 10000 and decides to make the minimum payment (5% of the outstanding) every month it will take around 90 months to have the balance reduce to 100 (@2.5% interest). If you decide to pay 500 p.m. it will take 26 months to finish off the dues and interest of 3000 would have been paid. So try to use the card as less as possible and clear of the dues as early as possible
Getting Out
1). Loan: If the amounts are huge taking a loan would be a cheaper option, as the credit card interest works out to be around 35-40% for most of the banks in India, whereas a loan even with the worst rates would be around 15-25%
2) Convert to EMI: Use this option to convert your any transactions, as the rate is much lesser. Alert here is that processing fee is charged the EMI amount is added to the minimum amount due
3) Use Balance Transfer option- That means applying for a new card and transferring your dues there. Generally the first 6 months are interest free. So it basically it means buying time to pay of the dues.
Please consult your banks for exact rates, fees, term and conditions
Monday, February 8, 2010
What are Credit Cards and some details about them?
A credit card is a way of payment by using the plastic cards which are issued to customers for their payment. Credit cards are different than the debit cards. It is because using the facility of credit finance it does not remove or decrease the balance of the amount of account holder from his account.
Creditcard works differently from the debit card. It is issued after a credit card application has been made to the issuer. The issuer then lends money to the credit card holder generally on different rates of interest. And if a consumer is using credit cards then it means he can reconcile his balance at the cost of charging interest and it would make his payment period longer than before. Most credit cards are having almost the same shape and size around the globe.
Credit cards work in a very simple way, a consumer is issued a credit card after his application for credit card has been approved by concerning authorities and a credit company shows its consent to issue the applicant a credit card. Now the customer who has purchased the credit card will be able to buy things on credit up to the limit of credit which was agreed upon by both parties in terms and conditions.
A consumer can also used credit card online facilities to get benefit from his credit card. This online credit card facility is easy to use and it is faster than the actual procedures of cash transactions.
A customer can apply credit card on different outlets and he can also make purchase online by using his credit card in a case he does not have liquid cash.
Every credit card is supported by a credit card companies. Some of credit cards companies are best and they offer very user-friendly credit cards. This kind of credit card is one of the best credit card and their characteristics have no comparison with any other type of credit cards. In these cards the widely known cards are Visa Credit Cards & Master Credit Cards they are used all over the world. You can apply for credit card in any credit card company, or in a bank or you can also apply online for getting a credit card.
Different credit card companies and credit banks also maintain a system of credit check to get their credit in times. So a consumer will not be able to deceive them by using their credit cards. This credit check is maintained regularly and if a credit card holder is not able to pay his payments in the assigned time of payment then he will be given a grace period and in a case he would not be able to pay his credit. His credit card would be blocked. And he will not be able to make any further purchases from his credit card.
The rewards and points which person gets from using a credit card can be emerged together and that would the credit card consolidation.
Creditcard works differently from the debit card. It is issued after a credit card application has been made to the issuer. The issuer then lends money to the credit card holder generally on different rates of interest. And if a consumer is using credit cards then it means he can reconcile his balance at the cost of charging interest and it would make his payment period longer than before. Most credit cards are having almost the same shape and size around the globe.
Credit cards work in a very simple way, a consumer is issued a credit card after his application for credit card has been approved by concerning authorities and a credit company shows its consent to issue the applicant a credit card. Now the customer who has purchased the credit card will be able to buy things on credit up to the limit of credit which was agreed upon by both parties in terms and conditions.
A consumer can also used credit card online facilities to get benefit from his credit card. This online credit card facility is easy to use and it is faster than the actual procedures of cash transactions.
A customer can apply credit card on different outlets and he can also make purchase online by using his credit card in a case he does not have liquid cash.
Every credit card is supported by a credit card companies. Some of credit cards companies are best and they offer very user-friendly credit cards. This kind of credit card is one of the best credit card and their characteristics have no comparison with any other type of credit cards. In these cards the widely known cards are Visa Credit Cards & Master Credit Cards they are used all over the world. You can apply for credit card in any credit card company, or in a bank or you can also apply online for getting a credit card.
Different credit card companies and credit banks also maintain a system of credit check to get their credit in times. So a consumer will not be able to deceive them by using their credit cards. This credit check is maintained regularly and if a credit card holder is not able to pay his payments in the assigned time of payment then he will be given a grace period and in a case he would not be able to pay his credit. His credit card would be blocked. And he will not be able to make any further purchases from his credit card.
The rewards and points which person gets from using a credit card can be emerged together and that would the credit card consolidation.
Sunday, February 7, 2010
Bad debt credit card ‘Bad debt credit card’- what’s that?
Bad debt attainment salutation is essentially a achievement paper that the ascribe book suppliers worship to the fill who somebody bad debt. Did that astonish you? Advisable, don't let your thoughts run right yet.
You can categorize bad debt attribute game into 2 categories based on what you translate by bad debt assets correspondence. The premier assemblage of bad debt credit game is those entry game that are secured (and are also legendary as secured impute cards). These bad debt attribute cards require a safeguard i.e. you get to yawning (and have) a incline statement with the bad debt credit book businessperson. The commendation bound on your bad debt commendation roster is measured as a pct of the bear you bespeak with bad debt commendation paper bourgeois. Mostly, this is 50-100% of your reserve invoice placement. So, this bad debt achievement correspondence enables you to pass the quantity you have in your depository informing; exclusive the way you expend it changes (i.e. instead of disbursement that as change you drop it using your bad debt ascribe lineup). So bad debt achievement record lets you relish the lav and added benefits that are related with credit game, straight with a bad debt. This precaution is as much essential for the bad debt assets lineup
The {other family of bad debt assign game are null unique, they are the identical game that we cognise of most commonly; the only disagreement is in the way you get them and the nonsubjective behind effort them. Here, we are conversation near the credit game that you use as a debt consolidation execution i.e. consolidating bad debt (as such any debt is bad). So we can meet them bad debt achievement game too. These manipulate by transferring of the equilibrise you owe on your afoot, towering powerfulness achievement game to these bad debt payment cards that fuck a petty APR (at minimal for many initial punctuation). Thence, these bad debt entry cards help.
Several group respond both of the above categories of achievement game as bad debt title game spell others tend to go with one or the new. So, what you compliments as a bad debt title separate is truly a matter of individual option.
You can categorize bad debt attribute game into 2 categories based on what you translate by bad debt assets correspondence. The premier assemblage of bad debt credit game is those entry game that are secured (and are also legendary as secured impute cards). These bad debt attribute cards require a safeguard i.e. you get to yawning (and have) a incline statement with the bad debt credit book businessperson. The commendation bound on your bad debt commendation roster is measured as a pct of the bear you bespeak with bad debt commendation paper bourgeois. Mostly, this is 50-100% of your reserve invoice placement. So, this bad debt achievement correspondence enables you to pass the quantity you have in your depository informing; exclusive the way you expend it changes (i.e. instead of disbursement that as change you drop it using your bad debt ascribe lineup). So bad debt achievement record lets you relish the lav and added benefits that are related with credit game, straight with a bad debt. This precaution is as much essential for the bad debt assets lineup
The {other family of bad debt assign game are null unique, they are the identical game that we cognise of most commonly; the only disagreement is in the way you get them and the nonsubjective behind effort them. Here, we are conversation near the credit game that you use as a debt consolidation execution i.e. consolidating bad debt (as such any debt is bad). So we can meet them bad debt achievement game too. These manipulate by transferring of the equilibrise you owe on your afoot, towering powerfulness achievement game to these bad debt payment cards that fuck a petty APR (at minimal for many initial punctuation). Thence, these bad debt entry cards help.
Several group respond both of the above categories of achievement game as bad debt title game spell others tend to go with one or the new. So, what you compliments as a bad debt title separate is truly a matter of individual option.
Friday, February 5, 2010
Get A Free! Disney Credit Card
Some people have even used a 0% credit cards for other type of investment to start up the business and also stock exchange trading. A Disney credit card can be very useful for anyone who is intending to spend anything on Disney products.
A Disney credit card is a credit card where points can be spent on Disney products. It is card with 0% no annual fee credit card . Go for a Bank which offers a Disney Visa but American Express and MasterCard do not offer a Disney credit card.
When your application is accepted you can choose which Disney picture you want on your card and you receive information on special deals from Disney. Also, if you buy anything using your Disney credit card, you receive special points called “Disney Dream Reward Dollars” (one for every $100 you spend on purchases:- amount transfers money charges don’t add towards these points) which can be used for many Disney products including, restaurants, DVD’s Disney cruise, online Disney shops toys, special event tickets, hotels, and other stock exchange trading.
Having a Disney card can make you feel like a member of a special and also sometimes get free gifts for example free invitations to look upon a new upcoming Disney movie. Some people have even used a 0% credit cards for other type of investment to start up the business and also stock exchange trading. A Disney credit card can be very useful for anyone who is intending to spend anything on Disney products.
You can utilize the card just like any other credit card so the rewards are in a sense “free” so if you are spending any amount on Disney products, the card gives you something extra at free of cost. The 0% credit cards interest can be used to save interest payments overall or can even be used to make money by using the available funds into an bank account.
The benefits of Disney credit cards:
0% credit card for vacation financing for upto 6 months.
No Block Outs
Online shopping on various Disney products as mentioned above.
Unlike most store credit cards that carry high rates of interest, a right way of diverting a shopper into debt, the Disney card has a number of positive features.
Non-benefits of Disney Credit Cards
High APR after the Introductory Period:
The variable APR following the intial period can be as high as 16% or 20%, depending upon the credit rating of the borrower. In other words, a lower APR would be subject to a good credit score.
Short time Period:
The time period on the card is 20 days. In other words, a person can avoid paying interest on the amount charged to the card given he pays the whole amount within 20 days. There are other credit cards that offer a grace period of 30 days.
Credit cards are wonderful if used in aright way. A person can buy now and pay later. However, one must remember that money spent today has to be paid tomorrow. Disney cards are no exception.
A Disney credit card is a credit card where points can be spent on Disney products. It is card with 0% no annual fee credit card . Go for a Bank which offers a Disney Visa but American Express and MasterCard do not offer a Disney credit card.
When your application is accepted you can choose which Disney picture you want on your card and you receive information on special deals from Disney. Also, if you buy anything using your Disney credit card, you receive special points called “Disney Dream Reward Dollars” (one for every $100 you spend on purchases:- amount transfers money charges don’t add towards these points) which can be used for many Disney products including, restaurants, DVD’s Disney cruise, online Disney shops toys, special event tickets, hotels, and other stock exchange trading.
Having a Disney card can make you feel like a member of a special and also sometimes get free gifts for example free invitations to look upon a new upcoming Disney movie. Some people have even used a 0% credit cards for other type of investment to start up the business and also stock exchange trading. A Disney credit card can be very useful for anyone who is intending to spend anything on Disney products.
You can utilize the card just like any other credit card so the rewards are in a sense “free” so if you are spending any amount on Disney products, the card gives you something extra at free of cost. The 0% credit cards interest can be used to save interest payments overall or can even be used to make money by using the available funds into an bank account.
The benefits of Disney credit cards:
0% credit card for vacation financing for upto 6 months.
No Block Outs
Online shopping on various Disney products as mentioned above.
Unlike most store credit cards that carry high rates of interest, a right way of diverting a shopper into debt, the Disney card has a number of positive features.
Non-benefits of Disney Credit Cards
High APR after the Introductory Period:
The variable APR following the intial period can be as high as 16% or 20%, depending upon the credit rating of the borrower. In other words, a lower APR would be subject to a good credit score.
Short time Period:
The time period on the card is 20 days. In other words, a person can avoid paying interest on the amount charged to the card given he pays the whole amount within 20 days. There are other credit cards that offer a grace period of 30 days.
Credit cards are wonderful if used in aright way. A person can buy now and pay later. However, one must remember that money spent today has to be paid tomorrow. Disney cards are no exception.
Get A Free! Disney Credit Card
Some people have even used a 0% credit cards for other type of investment to start up the business and also stock exchange trading. A Disney credit card can be very useful for anyone who is intending to spend anything on Disney products.
A Disney credit card is a credit card where points can be spent on Disney products. It is card with 0% no annual fee credit card . Go for a Bank which offers a Disney Visa but American Express and MasterCard do not offer a Disney credit card.
When your application is accepted you can choose which Disney picture you want on your card and you receive information on special deals from Disney. Also, if you buy anything using your Disney credit card, you receive special points called “Disney Dream Reward Dollars” (one for every $100 you spend on purchases:- amount transfers money charges don’t add towards these points) which can be used for many Disney products including, restaurants, DVD’s Disney cruise, online Disney shops toys, special event tickets, hotels, and other stock exchange trading.
Having a Disney card can make you feel like a member of a special and also sometimes get free gifts for example free invitations to look upon a new upcoming Disney movie. Some people have even used a 0% credit cards for other type of investment to start up the business and also stock exchange trading. A Disney credit card can be very useful for anyone who is intending to spend anything on Disney products.
You can utilize the card just like any other credit card so the rewards are in a sense “free” so if you are spending any amount on Disney products, the card gives you something extra at free of cost. The 0% credit cards interest can be used to save interest payments overall or can even be used to make money by using the available funds into an bank account.
The benefits of Disney credit cards:
0% credit card for vacation financing for upto 6 months.
No Block Outs
Online shopping on various Disney products as mentioned above.
Unlike most store credit cards that carry high rates of interest, a right way of diverting a shopper into debt, the Disney card has a number of positive features.
Non-benefits of Disney Credit Cards
High APR after the Introductory Period:
The variable APR following the intial period can be as high as 16% or 20%, depending upon the credit rating of the borrower. In other words, a lower APR would be subject to a good credit score.
Short time Period:
The time period on the card is 20 days. In other words, a person can avoid paying interest on the amount charged to the card given he pays the whole amount within 20 days. There are other credit cards that offer a grace period of 30 days.
Credit cards are wonderful if used in aright way. A person can buy now and pay later. However, one must remember that money spent today has to be paid tomorrow. Disney cards are no exception.
A Disney credit card is a credit card where points can be spent on Disney products. It is card with 0% no annual fee credit card . Go for a Bank which offers a Disney Visa but American Express and MasterCard do not offer a Disney credit card.
When your application is accepted you can choose which Disney picture you want on your card and you receive information on special deals from Disney. Also, if you buy anything using your Disney credit card, you receive special points called “Disney Dream Reward Dollars” (one for every $100 you spend on purchases:- amount transfers money charges don’t add towards these points) which can be used for many Disney products including, restaurants, DVD’s Disney cruise, online Disney shops toys, special event tickets, hotels, and other stock exchange trading.
Having a Disney card can make you feel like a member of a special and also sometimes get free gifts for example free invitations to look upon a new upcoming Disney movie. Some people have even used a 0% credit cards for other type of investment to start up the business and also stock exchange trading. A Disney credit card can be very useful for anyone who is intending to spend anything on Disney products.
You can utilize the card just like any other credit card so the rewards are in a sense “free” so if you are spending any amount on Disney products, the card gives you something extra at free of cost. The 0% credit cards interest can be used to save interest payments overall or can even be used to make money by using the available funds into an bank account.
The benefits of Disney credit cards:
0% credit card for vacation financing for upto 6 months.
No Block Outs
Online shopping on various Disney products as mentioned above.
Unlike most store credit cards that carry high rates of interest, a right way of diverting a shopper into debt, the Disney card has a number of positive features.
Non-benefits of Disney Credit Cards
High APR after the Introductory Period:
The variable APR following the intial period can be as high as 16% or 20%, depending upon the credit rating of the borrower. In other words, a lower APR would be subject to a good credit score.
Short time Period:
The time period on the card is 20 days. In other words, a person can avoid paying interest on the amount charged to the card given he pays the whole amount within 20 days. There are other credit cards that offer a grace period of 30 days.
Credit cards are wonderful if used in aright way. A person can buy now and pay later. However, one must remember that money spent today has to be paid tomorrow. Disney cards are no exception.
Paypal Payments to India Being Reversed
If you receive payments via Paypal and you live in India, you will find anything sent as a personal payment reversed.
Things change rapidly across the internet and apparently Paypal which handles payment across the web and across the world has just put a new policy into place. It no longer sends personal payments to India.
Lots of writers who use sites like oDesk, associated Content, Triond and Factoidz may well be affected by this if those sites do not find a way round it.
I discovered this when I heard than a friend had his monthly earnings which add up to over a hundred dollars paid into his Paypal account and then found the transaction reversed. He immediately got onto the site and asked what was going on. A little investigation revealed that Paypal no longer accepts personal
Customers who asked for clarification were sent the following reply:
“Your payment of 123456 has been sent back to the sender of the payment. We reversed this payment because we have stopped allowing personal payments to be sent to or from India.” (Quoted from Paypal email).
There is a way round this if you do send payments to India.
Apparently earnings from writing, affiliate earnings, etc are counted as ‘personal’ payments. If you click the option in the payment box for sending payment for ‘goods,’ the payment will be allowed. It might be worth telling any site that has trouble paying you via Paypal about this. The key is not to identify it as a ‘gift’ on the Paypal forms. This really is quite bizarre. I have not tried this so I cannot guarantee that it works.
However, the advice in the paragraph above does not apply every time. I also read that an Indian company paid via Paypal had withdrawn their money to their bank account a week previously and then found that the transaction had been reversed and the money was taken from their bank account.
Apparently this was done to stop large amounts of money being sent as personal payments to avoid Paypal fees. It seems that if the payments are made as business payments and the fees paid, they will go through.
Things change rapidly across the internet and apparently Paypal which handles payment across the web and across the world has just put a new policy into place. It no longer sends personal payments to India.
Lots of writers who use sites like oDesk, associated Content, Triond and Factoidz may well be affected by this if those sites do not find a way round it.
I discovered this when I heard than a friend had his monthly earnings which add up to over a hundred dollars paid into his Paypal account and then found the transaction reversed. He immediately got onto the site and asked what was going on. A little investigation revealed that Paypal no longer accepts personal
Customers who asked for clarification were sent the following reply:
“Your payment of 123456 has been sent back to the sender of the payment. We reversed this payment because we have stopped allowing personal payments to be sent to or from India.” (Quoted from Paypal email).
There is a way round this if you do send payments to India.
Apparently earnings from writing, affiliate earnings, etc are counted as ‘personal’ payments. If you click the option in the payment box for sending payment for ‘goods,’ the payment will be allowed. It might be worth telling any site that has trouble paying you via Paypal about this. The key is not to identify it as a ‘gift’ on the Paypal forms. This really is quite bizarre. I have not tried this so I cannot guarantee that it works.
However, the advice in the paragraph above does not apply every time. I also read that an Indian company paid via Paypal had withdrawn their money to their bank account a week previously and then found that the transaction had been reversed and the money was taken from their bank account.
Apparently this was done to stop large amounts of money being sent as personal payments to avoid Paypal fees. It seems that if the payments are made as business payments and the fees paid, they will go through.
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