Archive for September, 2009
Posted on September 18, 2009 - by admin
How to keep your prepaid debit cards safe
Prepay debit cards are very useful to purchase goods or services in many countries and risk of carrying large amount of cash can be avoided. At the same time, it can be disadvantageous when not kept safely. To withdraw cash using your prepaid debit card from the nearest ATM, you need to have a secret PIN. This PIN must be changed at regular intervals so that your debit card is kept safe from unauthorized usage. The PIN should not be revealed at any cost to anyone. If not, anyone can use it to withdraw large amount of cash from your account and may misuse your prepaid debit card.
To keep your cards safe, banks and debit card issuing companies provide an option with which you can have a limit beyond which you purchase or withdraw money per day. This is very helpful when you misplace the card when the probability of someone else finding and using it is high. Since it is very easy to reload funds to your prepay debit cards, you may not keep track of how much you are spending and may overuse it. Hence, it should be used carefully and wisely.
Posted on September 1, 2009 - by admin
Why Credit Card Companies offer 0 Percent Interest
You would think that credit card providers want to make money, so why then would they offer you and thousands of other consumers zero percent deals? There is a very good reason credit card companies offer these products. The first reason credit card companies offer zero percent interest is to get you to use their products. They also want you to pay them money every month. The idea is that once you have paid the debt on the balance transfer you will keep the card and continue to use it.
Balance transfer cards are helpful for those who can use the cards properly. For example if you pay each month to the credit card company until you pay it off in the allotted zero percent period the card works for you. On the other hand if you do not pay the card off before the deal is up you will pay the typical annual percentage rate, which could be over 15 percent. This is where the credit card companies make their money. You can also lose the deal if you miss or make a late payment. It is also the reason why companies have not completely removed these deals in the credit crunch.