A cash back reward credit card is designed to allow you to get cash back as a reward for using a certain credit card company’s card. However, as is usually the case with a deal that seems to be too good to be true these cards may not save you as much as you think, unless you know what to look for when deciding which of these cash back cards to choose. Here are some features you want your new cash back card to have.
No Spending Limit
Some cash back cards have high threshold limits, meaning you have to spend a certain high dollar amount with your credit card before you can even begin to start getting cash back points. Look for a cash back reward credit card that has a very low threshold limit or none at all. That way you can start earning those cash back points sooner.
No Annual Fees
You also want to find a cash back card that doesn’t charge an annual fee. Pay
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Tags: Card, Credit Card, Reward Credit, Reward Credit Card
My 86yr old Dad is no longer able to pay his credit card charges-unfortunately they are very large-$13,000 with a 25% interest rate. The money that was available for his payments will now be used for home health care. I called card co.(Sears) and explained the situation and said they could not negotiate until his bill was delinquent. What is the worst that can happen? Thanks for you time.
ANSWER:
Deborah,
The worst that can happen in your father’s case is that the credit card company could (but not usually) file and win a lawsuit against him and get a judgment. Credit card companies and collectors rarely filing lawsuits because of the expense, hassle and time that is involved in doing so, and with an 86 year old man it would probably be a waste of time.
If they do obtain a judgment, they would then either garnish bank accounts or wages (I’m assuming your dad is not employed) and could possibly try to put a lien against his home if he owns it. The
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Tags: Card, Credit Card
The use of plastic money is on a rise these days. The current generation finds it much more comfortable to carry financial transactions using credit or debit cards. Although cashless transactions sound hassle free, their increased usage has also raised the frequency of credit card frauds.
One form of credit card fraud is card cloning or skimming. The fraudster here copies the details of the card of an individual into expired, blank or stolen cards and thus makes a clone of the original card. The cloned card is then used by fraudsters.
The cloning device is easily available and can be purchased by fraudsters by shelling out a mere 30,000 to 50,000 rupees. The device contains a scanner and a software which scans the card and stores its details. The device can store information of as many as 3000 cards.
The fraudsters get details such as card number, name on card and expiry date of the card using the cloning device.
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Tags: Card, Card Getting