Ever wonder why your credit card has an expiration date on it as if it would go bad? Even more baffling is why do we
get new cards several months before the old one even expires? The mystery behind the credit card expiration date is actually pretty simple but there are several reasons based on the particular credit card provider as to why our plastic has a lifespan.
One of the main reasons each credit card has a date of expiration is simply based on the prediction as to how long the magnetic strip on the back will last through regular use. Because we slide our cards in and out of wallets daily, the wear and tear on the strip eventually will cause malfunction when used in a card reading device.
Another common reason for the expiration date is for verification purposes.
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Tags: Credit Card, Date, Expiration Date
In the near future, you may no longer be able to blame your debit or credit cards for that gaping hole in your monthly budget. As the New York Times reports, MasterCard and Citigroup have teamed up to present consumers with a new type of credit card that helps monitor your spending. These cards will contain unique security features that will prevent any transaction that is outside of your monthly budget from being processed.
The service, called inControl, will allow users to set a monthly credit and debit card allowance. If you try to use your credit or debit card for any purchase that’s outside of that monthly limit, your card will be automatically declined. InControl customers will also have the ability to tell card companies to decline any purchases that are not made in-person or that are processed overseas.
How InControl Can Benefit Your Wallet
If you happen to have a spouse, employee, or child who has access to one of your credit cards, the inControl system will prevent these people from exceeding a monthly limit. T
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Tags: Card, Credit Card
You get them in the mail, you see them in magazine and the Internet is full of those advertisements from assorted companies all telling you that their card is the best credit card deal you will find. The truth is all these best deals are what is best for the credit card company, which in their estimation is getting your business.
While they make their offers look great they really have little concern for what is the best credit card deal for you. That is really up to you to determine and deciding which credit card is best can be a long and confusing process.
Too Many Offers
One of the things that makes finding a good deal on credit cards so difficult is that nowadays there are simply too many special introductory offers and supposed benefits offered by these card companies.
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Tags: Card Deal, Credit Card, Credit Card Deal, Deal
I recently got an email from Kevin:
I travel often for business and have been using my debit card for travel. I would like to start using a credit card for my business charges in a way to make my life easier, and increase my credit score. I have so-so credit and have been building it up for some time. October 2009 my Equifax credit score was 568, today (9/22/10) it is at 686. I have been stuck at 686 for 3 months now and am tired of waiting for a Credit Score of 700. I have one credit card currently that only has a limit of $550 which won’t help me with my business travel, which also lowers my credit score when I get close to my credit card limit. I don’t want to go on a Credit Card sign up spree, and drag my credit down, and get denied for a card worthy of having. I w
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Tags: Credit Card, Travel
When it comes to cash back credit card offers, we find there are a number of available options. Depending on your credit score and your income, you will find there are certainly some great options for you. Before you go out and apply for any credit card it is a great idea to pull a credit report. This will give you the chance to see if there are any mistakes on your credit history, and will also provide you with a score you can work with.
Since there are a good number of cash back credit card offers, you will have the ability to select from a number of possibilities. It is important to understand that each will have a different interest rate, and while getting cash back is a great perk, it might turn out to be nothing more than the interest you are paying.
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Tags: Card Offers, Credit Card, Credit Card Offers, Offers
If you’re 18 or older, odds are you’ve received at least one student credit card offer in the mail. Often times, the bright colors on the packaging and awesome-sounding introductory APR can blind us to the fact that maybe it isn’t exactly what we’re looking for in a credit card or that we don’t need credit at this very moment.
The easy way to know if you are ready for a credit card is whether or not you’re responsible with other accounts such as a debit card linked to a checking account. Have you ever gotten overdraft fees from a spending spree? If so, you probably couldn’t handle a credit card — just being honest.
However, if you must have a card or need one for purchases like college textbooks or supplies, here are some good rules of thumb for sorting through credit offers:
1. Always check th
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Tags: Card, Credit Card, Student Credit, Student Credit Card
The severe cold calls by banks to customers for pushing credit cards , it always seemed evident to analysts that the market for credit card would continue to grow in India.
But recent data released by Reserve Bank of India says a different story altogether. The data shows that the usage of credit cards has shown a decline in the country.
Moreover, the usage of credit card is not only declining but plastic money is also underutilized in India.
” Debit cards have had a slow start and their growth only took off in the last three years. On the other hand, credit cards grew faster since inception, with the growth turning negative in the latest year,” noted IIT- Bombay faculty Ashish Das, who authored a paper ‘Cashless payment system in India A roadmap’.
From the year 2005 to 2008, there was a surge in the credit card business in India.
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Tags: Credit Card, India