Tag Archive | "VISA"
Posted on 31 March 2011
Tags: accommodation, account, accounts, addition, airport lounge access, Amazing, America, AmericanExpress, AMEX, amex centurion card, amount, annual fee, Barclay, Barclays, benefit, benefits, black credit cards, Brazil, Broadway, carat diamond, card visa, cardholder, cardholders, Centurion Card, Chairman, Chase Sapphire Card, Citi, Citi Bank, Citigroup, credit, credit card, credit card debt, Credit Cards, Credit Report, customers, Diamond, diamond card, discount, flight hours, free flight, gifts, golden heart, heart shape, hotels, identity, important, insurance, ISA, Kazakhstan, Latin America, Luck, luxury, marquis jets, MasterCard, Merrill, merrill lynch, National Westminster Bank, percentage, priority, private bank, private jet, rewards, santander group, signature card, Smith Barney, spending limit, sporting, The bank, travel, U.S, US, VIP, VISA, Visa Black Card, visa signature, wealth, wealthy
Here is the list of eight exclusively rare credit cards other than the Amex Centurion Card and the Visa Black Card, which are popular because of their special benefits. All these credit cards have one common specialty that, they can only belong with some of the wealthiest citizens around the globe.
1. Eurasian Bank Diamond Card
This card is purely a sign of elegance and wealth. Its design has a 0.02-carat diamond which is surrounded by a golden heart shape. It is the property of the bank of Kazakhstan and only belongs with those customers of the bank who have an account of $300,000 or more.
2. The Visa Signature Card
Visa Black Card is the property of Barclay’s Bank. Its top ranked card is Visa Signature Card, which provides several amazing facilities to the customers. Its most important feature is that, it has no spending limit. Other includes; A VIP access to Broadway shows and musicals; Special accesses to different sporting events and concerts; travel facilities at many hotels and airlines and better dining facilities.
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Posted on 22 January 2011
Tags: Aspen, Aspen credit card, Business, business practice, charged-off debt, compucredit, consumer reporting agencies, credit card, credit card companies, credit customers, credit history, credit limit, Credit Repair, credit repair firms, Credit Report, Credit Score, debt balance, deceiving customers, deceptive act, Dirty Tricks, false advertising, false claims, Federal Trade Commission, financial services, first three months, FTC, hidden truth, higher credit scores, maintenance charge, poor credit, removal of bankruptcy, removal of late payments, scam credit companies, scammers, Telemarketing Sales Rule, time application, up-front fee, VISA, visa cards, visa credit card, Visa credit cards
It is no more a hidden truth that scammers are ready to take your money away by false claims. Luckily, customers can file complaint against such fraud companies and the FTC will take strong actions against these companies. Here are some examples of the actions which were taken by FTC against scam credit companies.
FTC’s Actions against CompuCredit
CompuCredit is a credit card company and it issues credit cards such as credit cards for people having poor credit. FTC charged this company, here are them:
This company was deceiving its customers for Visa credit cards. The Visa cards include the Aspire Visa credit card and the Aspen credit card. This company was marketing these credit cards for subprime credit customers. In their marketing they told that their customer will get a credit card with $300 credit limit without any up-front fee. In reality, this company was charging a fee of $185 without disclosing this fee to its customers. This fee includes:
- One time application charge
- One time application processing charge
- An annual charge
- Monthly maintenance charge
Apart from it, CompuCredit was also proclaiming its Visa credit card to customers having slightly higher credit scores, with the available credit of over $3,250. CompuCredit remained unable to reveal that the half of this amount would be withheld for the first three months. It also remained unable to reveal that it will keep a check on the customer’s purchases for first three months.
The worse deceptive act of the CompuCredit was the marketing of a Visa credit card for customers having charged-off debt. According to their marketing, the old debt balance of their credit card will be immediately transferred to the card and reporting to consumer reporting agencies that it is paid in full amount. The enrolled customers didn’t receive Visa card until they paid 25 to 50% of their charged-off debt.
FTC Actions against Credit Repair Firms
FTC took notice of the deceptive proclaiming and false business practices which was being made by credit repair firms. FTC raided 33 credit repair firms. Few of the false claims which these firms were making are as follows:
1: They were claiming that they can eliminate the accurate and negative errors from their customers’ credit report. It wasn’t true in most cases. A common thing is the bankruptcy which lasts for at least ten years on your credit report.
2: They were charging the up front fee without providing any service. They were collecting fee before providing credit repair services to their customers.
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Posted on 28 August 2010
Tags: American Express, credit card, Credit Card Company, Discover, foriegn exchange rates, international travel, MasterCard, travel, USD, VISA
Majority of regular international travelers are well aware of the sharp nature of their credit card companies that pick up their plastic pockets when they make overseas purchases. That particularly means that on using your credit card overseas all the internationally accepted credit cards, such as MasterCard, Visa, Discover and American Express, charge you 1% foreign currency conversion fee on each transaction you make.
This fee is the part of the 2-3% fee that all UK banks adjoin, and only few banks offer less than 1% fee for. If you want to know about what your network (MasterCard, Visa, Discover, and American Express) is charging you, then keep more.
What Are you Paying as a Fee?
Following are some fresh transaction fees for that are charged by some biggest US card issuers:
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Posted on 27 August 2009
Tags: American Express, back, Benefit Of The CVV2 Number, card, card not present, Card Verification Value, cardholder, CID Codes, credit card, credit card fraud, criminals, CVV number, CVV1 Code, CVV2 Code, Discover, gas stations, hidden, identity theft, Internet, magnetic strip, MasterCard, phone, security, security code, signature, stolen, transactions, VISA
In order to protect against credit card fraud, a CVV number, or Card Verification Value is printed on the back of the card. It is a three or four digit security code printed on credit cards, intended to guard against identity theft in transactions where the actual card is not present.
CVV1 Code
There is another, less known code also present on the card called the “CVV1” code. This is encoded on the magnetic strip of the credit card hidden from view. CVV1 is used for security on transactions when the cardholder is present in person.
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Posted on 01 August 2009
Tags: Benefits of Prepaid Credit Cards, Benefits of Secured Credit Cards, credit limit, default, deposit, Difference between Secured and Prepaid Credit Cards, Drawbacks of Secured Credit Cards, good repayment habits, MasterCard, minors, monthly fees, positive payment history, Prepaid Credit Cards, rebuild damaged credit, rebuild your credit, Secured cardholders, Secured Credit Cards, setup fees, spending limit, Standard Credit Cards, VISA
Secured and prepaid credit cards are growing in popularity due to the increasing number of consumers looking for ways to rebuild their credit. Some people are in favor of them, while others try to avoid them. If you’re new to credit cards, you may have wondered how a prepaid card differs from a secured card, and how either kind can be used to build credit.
Secured Credit Cards
Secured credit cards are similar to regular credit cards, but there is less risk faced by the issuer. Secured credit cards require the cardholder to deposit money into an account, which is used to secure a line of credit. Typically, the cardholder needs to deposit enough money to cover 100-200% of the card’s credit limit. For example, a one thousand dollar deposit would result in a credit limit of five hundred to one thousand dollars.
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Posted on 28 July 2009
Tags: credit history, Credit Report, creditors, MasterCard, secured credit card, Tips to get your first credit card, VISA, your first credit card
Although many people may think that it is difficult to get a credit card for the first time as you don’t have any credit history, there are chances that you may be able to get one provided you have a steady income.
Where to get your first credit card?
There are many banks that routinely offer Visa or MasterCard credit cards to first time applicants. But everyone must establish a credit history somewhere. If you are employed and have a steady income, select a bank and apply for their credit card. But don’t think that applying at ten different banks at the same time will increase your chances of getting a card, because that will actually have the opposite effect.
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Posted on 26 July 2009
Tags: allowance, annual fees, basics of money management, credit card, Credit cards for teenagers, credit limit, emergency, good credit, high school, MasterCard, students, transaction fees, VISA
Although most credit cards have been designed for college students but it is possible for a high school student to get one too, but obviously there are many pros and cons of getting one.
Help them learn the basics of money management
We all know that the teenage is the best age to learn, and it may be the best to learn about the basics of money management to help in future life. As teenagers, many kids go out and get their first jobs, or are otherwise earning income from allowances or babysitting. It’s the perfect time for parents to help them learn about the basics of financial responsibility, and train them to spend according to their limits.
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Posted on 19 July 2009
Tags: American Express, Bad Credit Credit Cards, bad credit rating, Credit Cards, credit limit, Discover, improve credit score, MasteCard, secured credit card, unsecured credit card, VISA
Nowadays the whole world is going through a financial crunch and you may also be a victim of it. So if you are going through a financial crisis and have a bad credit rating, you can still get a credit card. But you need to follow certain steps to ensure that you get credit cards despite the bad credit. You can get a great deal on a credit card and actually improve your credit rating. All you have to do is to look hard enough and do your homework on the companies.
The following are various ways to get credit cards with bad credit and tips for improving your credit rating.
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Posted on 26 January 2009
Tags: 25 cent charge, America, automated bank transactions, bank, Better Business Bureau, Bureau of Justice Assistance, card, cent, consumer protection, credit card, credit card fraud, Federal Bureau of Investigation, Federal Trade Commission, fraud, identity theft, Internet Crime Complaint Center, Louisville, MasterCard, Melville, National White Collar Crime Center, New York, scams, VISA, Visa Card, visa credit card, www.ftc.gov, www.ic3.gov
Forums, chat room and blogs are recently overflowing with complaints from credit card users from across America. Those customers who are complaining are talking about a mysterious $0.25 cent charge on their credit card statements.
These 25 cents have been charged by Adele Services, Melville, N.Y. A simple search on internet reveals that there is no such company in Melville. even more surprising is that no business by this name was ever registered in state of New York.
People are presenting many theories for explanation of such absurd charges. One is, that it is quite possible that some one got his hands on a large database of credit card numbers and customer information. they are trying to verify the credit card authenticity before ringing up bigger charges on these cards.
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Posted on 28 October 2008
Tags: American Express, American Express Company, AMEX, anti-trust, anti-trust law suit, Bloomberg, credit card, Discover, lawsuit, MasterCard, settlement, united states, VISA
This Monday, credit card issuing companies VISA and MASTERCARD announced that they have settled the anti-trust law suit filed by Discover Financial Services. Discover accused both of the companies of entering in to exclusivity contracts with banks. Such contracts prohibited banks and other financial institutions to issue competing cards. Discover filed for $6 billion as compensation but settled for less than half that amount.
Visa has a larger credit card holder base and paid the major chunk of settlement amount. Visa Paid $1.8 Billion. While MasterCard with second largest penetration paid only $862.5 Million.
This amount looks big but it is peanuts when it is viewed in context of Total US Credit Card Market Size. According to Bloomberg
The value of U.S. credit card purchases was $2.17 trillion in 2007, up from $426 billion in 1993.
Previously, AMEX (American Express Company) sued both of credit card Giants and managed to extract about $5 billion in settlement.
So It is obvious that VISA and MASTERCARD have struck a great deal. Paying under $10 billion for un-restricted access to a multi-trillion dollar market is good business in every sense of word.
How these two play with each other is yet to be seen…
More on this story can be read here
