As our economy becomes more and more digital, ATM debit cards have become a frequent payment method. This article discusses your liability for lost or stolen card charges.

ATM Debit Cards

ATM debit cards have certainly made life a lot easier. For many people, carrying around a checkbook is a thing of the past. My debit card has been used so much I can barely see the numbers on it anymore. The downside, of course, is inevitably you will lose the card. For the unlucky, the card may even be stolen. If this occurs, you need to act quickly to cut off liability for any of the charges.

ATM debit cards are not credit cards for legal purposes. With a credit card, your liability is limited to $50 so long as you let the credit card company know about fraudulent charges when you get your statement. The laws governing ATM debit cards provide much less protection.

If you report an ATM debit card missing, you cannot be held liable for any subsequent withdrawals or charges. However, the rules are different if the unauthorized charges happen before you report the card missing:

1. You are responsible for losses up to $50 if you report the card missing or stolen within two business days of unauthorized charges occurring.

2. If you report the card lost or stolen after two business days have passed, you could be on the hook for up to $500 in unauthorized charges.

3. If you fail to report the lost or stolen card within 60 days of receiving a bank statement with unauthorized charges, you are totally and completely liable for all charges.

While these laws may see unfair at first, they really arent. I procrastinate as much as the next person, but even I wouldnt wait 60 days to report a stolen or lost debit card. At some point, you simply have to take responsibility for your life. Heck, I dont think I could survive two days without a debit card.

If you suffer a lost or stolen ATM debit card, contact your banking institution immediately. Youll regret it if you dont.

There are plenty of great credit cards on the market, but there are also plenty of bad ones too.

The biggest problem is that what can be a good credit card for one person can be a bad card for someone else. So, how do you know what makes a good credit card for you?

Here are a few tips to help you decide what will make a good credit card for your needs:

Take your time

The best way to find the right card is to take your time and shop around for the best deal. Even if you have a card already, you should periodically check new deals. Your current card company could be offering a better rate to new customers that you might be able to take advantage of if you ask them. The more time you spend looking around before signing for anything, the better deal you will get.

Examine the rates

One concept that is universal to all good cards is a card that has a low rate. It is better to get a card with low rates and charges, as this will save you money. Try and stick to fixed-rate cards as the interest rate will not rise as often as with variable rate cards. Any change in interest rates will usually be imbedded within the mountain of post you get sent by a card company, so remember to read the mail you get from your lenders.

How you will pay?

Another important factor to consider when choosing a card is how you will pay each month. If you plan to pay the minimum payment each month, you need a card that will let you do this. If not, then a card that you have to pay back the whole balance each month might be better.

How much you want to pay back each month will affect which cards are best for you.

Honesty is the best policy

Whatever card you are looking for, you should make sure that you are honest with yourself. If you are unrealistic then you will end up with a card that isnt right for your needs. Getting a card that has a great introductory rate but then a high rate after is only good if you can really afford to have a zero balance after the initial offer period. If you are honest about your financial status and your ability to stick to a budget then you will find the right card for your specific needs.

Extra perks

Although it might seem attractive to get a card with all the extra bells and whistles like card protection and air miles etc, these cards might be more expensive. Make sure that any extras you are offered are things that you really need, and find out how much they cost. The best cards are usually those that have the fewest features, as you get lower rates and therefore a better deal.

Debt Consolidation Loan – How To Avoid Downward Spiral Of Debt

Debt consolidation is an answer to many of your debt problems. It can help you consolidate multiple debt payments into one single payment, avoid filing for bankruptcy and simply help you get out of debt fast. It can help you consolidate many bills into one single monthly bill. This will give you some respite and help you get in control of your finances.

If you are burdened with debt and you are paying out too much for your credit card or personal loans, why not replace all of them with a consolidated loan.

To take control of your finances, do a realistic assessment of your income and expenses. First list your income from all your sources. Then list all your fixed expenses each month like home loan, auto loan, insurance. Next list the expenses that vary each month like clothing and entertainment. Your public library or your local book store will give you books on budgeting and creating plans for saving money. If you are not able to save money and find yourself in a downward spiral of never ending debt, you may need a debt consolidation loan.

Debt consolidation loans are offered by credit counselling agencies who have debt consolidators working in your favour. A good debt consolidator will work with you in creating a debt management plan and call up your creditors and discuss your situation with them as well as reduce your interest. A debt counsellor will also help you get a debt consolidation loan against the security of your home. This loan can be used to pay off your balances on your credit cards, store cards as well as personal loans. The interest on your debt consolidation loans is much lower than your other loans so this is a win-win situation.

While seeking a debt consolidation agency, make sure you are seeking a non profit organization which is really interested in helping you.

What Is a Good Credit Score How Can I Raise Mine?

What is a good credit score? When you request a free copy of your credit report, you will find a score assigned to your credit history. This score will determine whether or not creditors will grant you the loan or credit that you want because it gives them an idea of your risk to repay. Generally, the answer to the question what is a good credit score? is the higher the better.

Once you have your credit report in your hands your first question should be What is a good credit score and what is my credit score? Each credit bureau has its own method of computing the credit scores and by themselves they dont really mean much. When the score is combined with your credit history, creditors can see at a glance how much money you owe and whether or not you have a good score. The scores range from 350 to 650, so if you are in the lower end of the score, then you will probably start to wonder how can I raise my credit score?

Using the mortgage industry as an example, if you ask what is a good credit score, the answer will be close to 650. If you are a lot lower than that, your chances of getting a loan to buy a house may be slim. If you ask about improving your credit score, then you will find that counsellors will tell you to pay your bills on time and try to pay them off. The less bills you have, the greater your chances of getting the loan you want.

You might not realize it, but applying too often for credit does affect your credit score. Your credit report contains the names of all the people who have requested your credit report, so having a long list of names in this section will not help you improve your credit score. Most consumers have the idea that when they ask what is a good credit score, they will find out that a lower number is better. You might also find that your score with one credit bureau is better than another depending on the creditors that deal with each one.

Moving many times also affects your credit score. Even though you pay your bills on time and are able to manage another loan, you may have to ask yourself how can I raise my credit score. When creditors see a lot of addresses, they assume you have trouble paying the rent. When you ask what is a good credit score, you also need to ask what factors affect the credit score. When you scan the credit report to see what your credit score is, you also need to look at all the bills and the number of times you were late with the payments. The next time you request a credit report, you will be anxious to see the score and you wont have to ask what is a good credit score.

What is a good credit score? Its all relative, but contrary to popular belief it is not the lower the better.

Most people are not comfortable with having cash in their bags. When they go shopping, they use their credit card to pay for everything that they want to buy. Credit cards are in some ways better and safer to use than cash.

Given that you have been using your credit card for a number of years now, do you know that you are provided with certain privileges as its user? If you do not know anything about it, then it is high time you teach yourself about these rights. For instance:

1.If you buy a damaged product using your credit and the company refuses to replace it with a new one, you can have an option. You can either refuse to pay for it or you can stop the payment on your credit card and file a dispute.
2.If you find errors on your periodic account, the law will grant you a way to correct these.
3.If you lost your credit card or if it was stolen from you, your responsibility for unlawful charges is restricted provided you follow appropriate noticeable actions.

Will the company claim extra identification?

Most credit card businesses require only that a company match your signature on the proof of payment with the signature presented on your card and make sure that the card is still valid. When a clerk obliges you to write your address and telephone number or demands that you present your driver’s license, he or she is breaking a law. If this happens to you, file for a protest.

Will you present your card when you write down a check?

Writing checks for your purchase is one of the positive aspects in using a credit card. But, in some U.S states, the company does not have the right to write the credit card number on your checks. Getting your card number will still not secure the company in any manner especially if you did not sign in a credit card receipt. If for example your check bounces, the company is forbidden from charging your card for the bounced check payment.

Therefore, before using any credit cards ask for the card company about your rights to avoid any unnecessary situation between you and any other businesses.

It’s the day you’ve been waiting for the last two weeks… payday and the only time when your face lights up and you actually go to the office with a lot of wonderful, dreamy thoughts in your head – such as how fast you’ll be able to bolt out of the office and get yourself down the to nearest mall and you can already smell the Caff Verona you plan on ordering at Starbucks. Either way, you seem compelled to impulsively spend all of that hard-earned cash on something that in all likely-hood you can do without. Like that dress you’ll probably wear just once or the Egyptian silk sheets that you’ve been drooling over ever since you noticed that Jessica Simpson on Newlyweds sleeps on in luxurious comfort. Never mind they are actually worth fourteen hundred dollars… but like you always tell yourself – you deserve it. Besides, what’s the harm in rewarding yourself for a job well done? You deserve some pampering too.

You may even find yourself making plans at some luxurious spa, to sample of their relaxing (not to mention, extremely costly) facials, massages or treatments. After all, you work hard and so you’ve definitely earned it since you’ve been stressed out all month long from your hectic schedule and tight deadlines.

On the other hand, have you ever even thought of saving… even occasionally putting a portion away for a rainy day? Have you thought about you future? And if it actually involves those Egyptian silk sheets that you just purchased or the designer coffee that you simply cannot seem to get enough of – is it really worth it?

Unfortunately for too many, sooner or later reality sets in and when it does it hits them like a Category 5 hurricane and they wake up they realize (hopefully not too late) how deeply they’ve buried themselves in an oppressive amount of debt. And they also realize that they have absolutely nothing to fall back on in order to get themselves out. You could simply hand in the towel and declare bankruptcy (many do) however, an alternative, less stressful and smarter way to go, is to at least initially, look into getting a debt consolidation loan.

The thought of a debt consolidation loan may not be all that enticing to most of the debt saddled, but then again what’s the alternative – bankruptcy or paying minimums on your credit cards at 20% interest for the next 20 years? Unfortunately for those of you who have nothing in your savings or other assets to tap into, it may be your best option and perhaps the first really smart financial decision you’ve made in quite awhile.

You are clearly aware that a ton of companies offer debt consolidation loans, just the fact that you are reading this article attests to the fact that you’ve done some type of internet search related to debt or debt consolidation. You just have to be honest about your finances or whatever it was that you were doing with your money (when you still had some) so that whomever you decide to go with to try and secure that debt consolidation loan will be able to provide you with an accurate scenario of your financial present and future.

The past is… as they say, history. You really have no choice but to simply move on, walk away from your past mistakes and hope that you’ve learned something useful. And then, incorporate those lessons into your future dealings with money and hope against hope that your debt consolidation loan will be approved so that you can take the overwhelming burden of debt you’ve saddled yourself with and leave it far behind.

As you search for a debt consolidation loan make sure you do your due diligence by shopping around and asking questions whenever you feel lost by the “financial jargon” or the whole process in general. If you do your part, you’ll greatly increase your chances or working with a reputable company that’s not out to take advantage of your current poor financial situation.

A final bit of advice, virtually all Loan Officers work on commission and so it’s in their best interest to… 1) Make sure you get the loan and 2) Charge you the highest interest rate possible and the highest possible fees and still make the deal. That being said, don’t ever take the first quote you get for rate and closing costs as the best deal you can get because it very rarely is. While shopping, make sure the companies you are working with know that your shopping around tell them straight out that you will give your business to whomever can come up with the best deal and who’s is upfront and honest from the get-go.

Never forget that you are in charge (regardless of your current financial state) and if you don’t feel comfortable with your lender or what’s being presented then simply move on until you find someone who treats you with the respect and dignity you deserve.

What Does a ‘Universal Default Penalty’ Clause Mean On My Credit Card?

You apply for a credit card that has an advertised 10% APR. The card is approved and you spend money on it. Some months later you notice that the interest rate cannot possibly be 10% APR but is nearer 30% APR. You immediately claim you have been cheated; but the credit card provider counters that they have invoked the Universal Default Penalty Clause under your agreement with them. Bewildered you wonder what on earth a Universal Default Penalty clause could mean. And the answer is:

Credit score rating

Many customers apply for a card at a time when they have a good credit rating in the belief this is the one and only time the provider checks their credit score rating. In fact this is a mistake that could cost you dearly as the card provider will carry-out periodic checks on your credit score rating and will adjust the APR chargeable on your card upwards if there is any variation in your rating that indicates you have become more of a credit risk. The scary part here is that you may not actually have failed to repay any of your debt in the interim part, but merely by exposing yourself to additional credit the rating agency may have deemed that you are more of a credit risk. As such, the card increases your APR, you are now a high-risk borrower!

You fail to make a repayment

Cleverly a Universal Default Payment Clause does not mean that you have failed to make a repayment on that issued card it can easily be the case that you have made a late payment on a completely unrelated card that invokes this. Again, the reason for this is your payment records are part of central system and if you fail to make a payment on time, you are, again, considered a high-risk borrower. Consequently your APR jumps up!

You go over your limit

If you go over your limit, even only minimally, on any consumer credit program you have in place, youll suddenly notice your APR changes. Once again, you have suddenly become a high-risk borrower and it makes little difference if you claim this only happened once!

Your income changes

About the last thing you need to hear on finding out you have just lost your job is that you should be expecting to pay a lot more for the credit you have but thats the fact of the matter. If your income declines, your APR will increase!

Why is it important?

The reason why a Universal Default Payment Clause is important is because it will apply a new APR to your entire balance outstanding regardless of whether or not you bought the item in the belief youll be paying the originally advertised lower APR. In other words, its doesnt only apply to new items you bought since the change in the APR. So, make sure you read you credit card application form carefully and review your monthly statements with a microscope to make sure that you havent just fallen victim to the Universal Default Payment Clause APR surcharge!

Your credit rating is quite an important piece of recorded history. It tells something of your ability to manage financial debt to a possible lender who may have no other way of knowing.

You may feel that it is pointless to think about buying your own home if you have a less-than-perfect credit rating. However, in-roads can be made into this problem, and with patience you could be house-hunting this time next year!

Let us suppose you feel that your credit rating has been a little ‘off-color’ and that your record is not looking the way you would like it to. Some of us experience bad times, divorces, patches of unemployment, illness – there are many good reasons why a person can have a bad credit history.

Unfortunately these bad times can be mirrored in our credit rating. Failure to pay bills on time, or pay them at all, will be listed in the history.

But now life has been good to you, and things are under control, so how to get rid of all the black marks from previous years? Well, in effect, you can’t! Sorry, that is the bad news – but there is good news too! There are two ways around this problem that are fairly easy.

Some banks will set you up with a way to give you another chance! Many won’t, but there is at least one national bank that will consider helping you.

They will issue you with a credit card that carries a low credit limit of say $200.00 to $500.00 and you will deposit the equivalent sum of money in a new bank account at their bank.

Your money will not be used by you, it will sit there. It is like insurance for the bank. Every month you will use your credit card (make sure you keep a running debt on it), and every month you will pay the card off, or pay the minimum payment or a larger amount. This must be paid on time each month, as you are attempting to prove that you have control over your finances now.

The second way is this: there is a credit card company that is always sending out application forms nationwide; they actually advertise that you don’t need to have a good credit rating to get a credit card with them

If you get one of their cards, and pay off at least your minimum payment every month, you will be building credit. Now that you are trying to re-establish good credit, there are three golden rules.

Pay all your bills. Pay minimum balance when you can’t afford more. If you miss payments, get them up to date and do not let it happen again. i.e. request direct debit payments.

Even the most lenient mortgage lenders require a good credit history for at least a year, so if you follow these tips, you could be on your way to buying a home next year!

Debt consolidation home loan to stitch holes in your financial management plan

Continued credit problems can be overwhelming at times for any individual. It is always a burden to make repayments on loans each month both financially and emotionally. Debt consolidation implies the consolidation on several loans into one single easier to handle less costly package. If you are a homeowner, debt consolidation would certainly mean more in terms of savings.

Home loan allows debt consolidation by placing the home as collateral. Home loan for debt consolidation seems very attractive to a homeowner who sees only positive things in it. The lending process with home loan is favourable. The lenders are broadminded with home loan for debt consolidation. The reason behind their consideration is that you are pledging your home for the loan claim. The chances are bright that the borrower would not be adventurous with home loan. Since you are putting your home at stake for debt consolidation loan, making payments will be heading your priority list.

Debt consolidation home loans have low interest rates. Debt consolidation interest rates are lower than the ones charged for all your loan types combined. The debt consolidation home loan combines all the loans into a single loan with single monthly payments. It is a lot easier when you have just one debt to pay instead of several ones. The monthly payments with debt consolidation home loan are usually lower. This means that debt consolidation home loan spreads the cost of loan over a longer period of time thereby decreasing monthly payment. With decreased monthly payments, you would have more cash in hand. This means savings and you can use this money to make the purchases you have been putting off.

Debt consolidation home loan is secured; therefore, it is comparatively easy for those with bad credit to get this loan. However, if you have good credit score you can get very good rates for debt consolidation home loans. The equity in your home is huge. So home loan for debt consolidation will invite you to borrow large amounts easily. The only drawback with debt consolidation home loan is that if you fail to repay, your home will be under threat of loss.

Debt consolidation can be and cannot be a smart idea for every homeowner. Different debt consolidation home loan work for different people or it may be that debt consolidation is not at all the answer to your debt problems. It is crucial to find the debt consolidation home loan for your circumstances. The fundamental thing about debt consolidation home loan is it shifts your loan programmes. Debt consolidation loan cannot eliminate debt. Debt will have to be paid at some time sooner or later.

With debt consolidation home loan it is often that you might end up paying more in the long run. Concentrate on both low interest rate and low monthly payment. And never stretch debt consolidation home loan for a longer loan term. Transferring your loans to a wrong debt consolidation home loan is like leading yourself into a bigger debt issue than you already have. Try to make a debt consolidation repayment plan that pays the debt within 3-5 years or maximum 15 years.

A debt consolidation home loan is normally good for larger amounts. If you have debts over 5000 with three or more creditors to answer get yourself a debt consolidation home loan. And be realistic with your expectations while paying back debt consolidation home loan. You are already paying the price of being unrealistic earlier. Get a good insurance policy if you doubt you cant your keep up with repayments.

So you have had problems paying bills recently. And you think debt consolidation home loan are a fix-it. Debt consolidation home loans are short term fix it. They are not a cure for your outdated management plan. Try to consider debt consolidation home loan as a wakeup call for you. Personal financial management has gone awry that you are under debts you cant handle. After debt consolidation home loans the post-operative care is making sure you dont take debts again.

Marsha Claire is offering loan advice for quite some time.To find UK debt consolidation loan,debt management,debt advice visit

Reward credit cards or loyalty cards earn their owners certain incentives in terms of cash back or redeemable reward points. These benefits and reward points keep mounting as more charges are applied to the card, i.e. more you spend more you get. The best-known reward cards are those that offer frequent flyer miles or cash based upon the amount of purchases made with the card. There are numerous companies that offer you fantastic or unbeatable rewards for the privilege of providing you with their credit card, however, whichever card you use should be chosen carefully.

Annual Fees

Convenience users or people who use credit cards for frequent purchases reap the maximum benefit out of reward credit cards. Many of these reward credit cards come with an annual fee, sometimes higher depending on your reward level. This fee should be taken into consideration when estimating any future reward level. Consider the kinds of reward schemes being offered and the minimum amount you need to spend each month in order to avail the reward bonuses. Analyze your spending habits, since the level of spending determines the level of benefits earned.

Golden Rule of Reward Cards

There is one golden rule concerning any type of reward card, whether it be an affinity credit card or cash back, you must pay the balance in full every month. If you do leave a balance and interest accrues on this it will negate all benefits that you received from the card, in fact it could end up costing you more in interest than you earn with rewards.

Which Reward Card?

These credit cards do not just earn you flyer miles. You can earn reward points redeemable against discounted or in some cases free gasoline, gift certificates for merchandise at particular retailers or for general online use, and even discounts on your next automobile. Though free flyer miles might lure you to buy an air miles reward card but ultimately if you do not fly frequently enough to redeem those miles, you will be at a loss. However, on the other hand cash back or discount points card could be more beneficial to raise a sloping budget.

Conclusion

In general choosing the correct reward card for your needs is probably the most difficult decision that visitors face when choosing a credit card. Most other types of credit card are simple enough to choose, whether it is a balance transfer card, an introductory 0% purchase rate or an adverse credit card. However, with the reward card you must be able to pay the balance in full, calculate the annual fee cost then, estimate your spending level and then calculate your estimated rewards.