How to Avoid Credit Card
Late Fees
By Daryl
Flagg
Everyone hates late fees and being late will cost you
dearly these days. For some credit cards today, if you're late, you
will have to shell out as much as $40 each time. This can put a nice
sized hole in your pocket really quick.
Below, I will provide you with some tips and
strategies on how to steer clear of those monstrous late fees. This
will not only save you a lot of money in the long run, but it will
also keep those money-hungry credit card companies, I won’t
mention any names, from getting your hard earned money.
Just pay your bill. One of the easiest ways of
avoiding a late fee is to just pay your bill each and every month by
sending in a check, money order, or other type of payment to your
respective credit card issuer. Just make sure you follow the
numerous guidelines, which are usually outlined on the back of each
credit card bill, on how to send in your payment. These guidelines
must be followed precisely if you want to guarantee that your
payment will go through on time.
Payment guidelines may include everything from a
specific payment address to the time of day by which the payment
must be received to be credited that day. Many issuers also
stipulate that payments must arrive in the preprinted envelope sent
to the customer.
While the Fair Credit Billing Act requires issuers to
credit payments the day they are received, each issuer is allowed to
set specific payment guidelines. If any of the guidelines are not
met, the issuer can take as many as five days to credit the payment.
An on-time payment could easily become late during
that five-day period, so follow those payment guidelines carefully.
Just skip the payment. One of the more rare types of
methods you hear of are Skip-A-Payment services. You can use these
services to skip mortgage, credit card, or loan payments. Usually
you would need to get in contact with your bank just to see if you
even qualify or not. There are also independent companies out there
that will allow you to do the same thing, no matter what bank you
are a member of. Depending on whose service you use, the fee’s
associated with it vary. When you use these types of services make
sure you know how much you will be charged then decide if it’s
worth it or not.
Pay minimum due immediately. One of the best ways to
prevent a late fee from being charged to your account is to pay the
minimum due immediately. As soon as you receive your bill, send in
the minimum due. This will always insure that your credit card
issuer received payment. You can always send in more money later if
you decide otherwise. This is a great way to avoid missing a payment
because if you forget to send extra money you can guarantee that you
won’t be charged a late fee because the minimum due has been
already been paid.
Move your due date. Are your credit card bills due at
a time of the month when you're running low on cash? Many people
have trouble saving money, so when it comes time to paying their
credit card bills, they don’t have any cash to do so. One
particular solution is to move your due date. Many credit card
issuers will allow you to set your own due date to meet your
specific needs. If you have trouble saving money, move your due date
to a time when you do have money, like as soon as you get your
paycheck. If you time your credit card bill to come the same day you
get paid, you will always have cash to pay the bill.
Pay by phone. If you are one of those people that
wait to the last minute to do everything or if you just forgot to
send in your credit card payment early enough, you could always pay
by phone. This guarantees that your payment will be on time. Just
supply the representative on the other line with your checking
account number and your bank routing number, which is printed at the
bottom of each check. Usually the routing number is first and the
account number is second. A lot of issuers allow you to pay by phone
and some will charge you a pretty penny for doing so. Fee’s can
range from $5 to $20.
Use other express methods. If your bank does not
offer a “pay by phone” service and you need to get your payment
to your credit card issuer as soon as possible, I recommend either
sending your payment in by express mail or by Western Union. Either
one of these services can get your payment to your credit card
issuer immediately. These express methods are costly, but it will
always most likely be cheaper than any fees associated with being
late. Make sure you send your express payment to the proper address.
Many issuers have separate payment addresses for express payments.
The last thing you want to do is slow the processing of an express
payment by sending it to the wrong address.
Daryl Flagg is the founder and CEO of Next Month
Online. Next Month Online is a service that allows its visitors to
skip credit card payments. They can be found at http://www.NextMonthOnline.com. Sign up for free!
Article Source: http://EzineArticles.com/
Phishing - Identity Theft
& Credit Card Fraud
By Ken
Dennis
What is Phishing?
Phishing is a relatively newly coined term for a kind of method for
harvesting information for identity theft. Phishing is quite simply
providing a person with false information or credentials to trick
them in to giving you their personal information. This is done by a
form of social engineering, by posing as a different person or
organization that you already trust.
How does Phishing Work?
The most common form of Phishing is done by sending out fraudulent
e-mails, that lead back to websites that look legitimate. Normally
an e-mail is sent to a huge amount of people stating in very general
terms that you should come to their website and update your
information, or provide them with some new information they need, or
some other similar excuse. When you click on the link in the e-mail
it will take you to a website that looks very similar to the one you
are expecting, you enter your information, and now they've got you.
Another method is to open a popup windows asking information, on top
of the real legitimate website.
How can I identify a scam e-mail?
There are several major things to look out for that will lead you to
believe the e-mail is fraudulent. Quite often the e-mails will be
HTML based, not plain text, this allows them to put active links
that display a legitimate website, but the coding behind it takes
you to a different website.
Often new websites are registered with altered
spellings of major corporations and organizations, or the link will
lead directly to an IP address (ie 24.38.122.156) instead of a
website domain (ie www.website.com).
Another very quick way to identify a false e-mail is
to see who it is address to. Normally e-mails that are fraudulent in
nature are addressed to "Dear Customer" as opposed to your
real name, and often they are e-mailed to many users at one time.
No legitimate organization should ever ask you to
provide you with personal information via e-mail. If any e-mail ever
asks you to e-mail them your private information, you should report
this e-mail to the company they are posing as.
How can I avoid falling for a Phishing scam?
If you believe the e-mail could be legitimate, don't click on the
link in the e-mail, instead open up your web browser, and use the
link/favorite you already have, or type in the website yourself in
to the URL box. This will guarantee that you are using the correct
legitimate website!
Using the same method to get to the website as
mentioned above, go to the organizations help page or contact page
and ask them about the e-mail they may have sent you. You can also
forward them the e-mail to a known legitimate e-mail address at
their organization.
What if I already fell for this scam?
If you have mistakenly been taken in by this kind of scam there is
several very important steps you need to take. First, report that
you have been tricked by this method to your credit card companies,
and other financial institutions.
Report that you have been tricked to the company that
you thought you were legitimately updating information for. If you
can provide them with the e-mail that tricked you, it may be useful
for helping to reduce the impact on other people around the world.
Change all your passwords and PIN numbers for all
your financial institutions and websites immediately.
Monitor your credit card statements, financial slips
and balances. If you notice a discrepancy, immediately contact your
financial organization and let them know about the fraudulent
activity. In addition most banks should be able to add you to a
fraud report list that will stay on your credit report that will
make it harder for people to create new credit cards or open
accounts without providing legitimate identification in person.
Finally, you should contact your local police or law enforcement
organization and file an incident report to cover yourself should
illegal activities happen!
Applying For A Major Credit Card Even Without Prior History
By Mario A. Churchill
Credit cards are used in almost all day-to-day transactions nowadays. From buying milk to getting a nose job, credit cards are the currency of modern times. Although far from totally replacing real money, a credit card is necessary in order for you to have a place in today's trade and commerce. Applying for a credit card is typically easy; but in some cases, it is much like getting a camel pass through a needle head.
Applying for a major credit card without prior experience or credit history makes obtaining one a far more difficult process. A credit history is needed to measure your capability to pay amounts owed and it also allows the issuing company to provide you with a credit limit and payment plan that can best suit your lifestyle and personality. The absence of a credit history will almost make companies balk at the idea of giving you a credit card; on the other hand, if you are not issued a credit card, there is no way that you can have a credit history. Before this whole issue looks more like a chicken-and-egg debate, here are honest tips that can help you apply for a credit card while you still do not have a credit history.
Explore Other Credit Options
Most of the time, the major credit card companies are the ones who give people without credit history a hard time in applying for a credit card. It is therefore incumbent upon you to look for other credit card options through which you can build your credit history. Usually, smaller companies offer more leniencies to people who do not yet have credit card history.
Entities like department stores and gas stations issue credit cards with small credit limits. If you are issued a credit card from smaller companies, always remember that your goal is to eventually obtain credit cards issued by major international companies, so make it a point to build an impressive credit history by paying your obligations to smaller credit card companies.
Credit Cards Issued By Unions
Being a member of some credit union has its benefits as this type of union issues credit cards to their members. Hence, as a member, or as someone who is qualified to join a credit union, you can take advantage of getting your first ever credit card on which you can build on your credit card history. While obtaining a credit union card can be fairly easy for members, it does not mean that the union gives out its cards blindly. Again, make it a point to pay your debts on time.
Try Secured Credit Cards
Go look for moneylenders who are ready to issue a credit card that has a credit limit amount equal to or a little higher than the cash you have deposited in their favor as security. You may think that this setup is like cooking you in your own fat, but the fact is you need to build your credit history, and if there are no other avenues to do that, secured credit cards are the way to go. Eventually, these types of moneylenders will increase your credit limit without asking you to deposit more cash security. After you have gained an acceptable credit record, you may be qualified to apply for credit cards from major issuing companies.
Truly, the way to apply for a credit card from major credit card companies is by having a good credit history. After you have gone through the different options mentioned above, look for a credit card institution that will evaluate your overall credit history and financial status; and just maybe, you will have your first credit card from a major company.
Article Source: http://EzineArticles.com/ |
