What Is Business Credit Card?

As a business owner you may get varied choices but it is not true that one card which is right for your business will also be advantageous for another. There are varied factors which can influence your selection of credit cards, such as credit rating, cash flow, nature of business, etc. Therefore, it is necessary to do a proper comparison of varied options available in the market. Credit card companies consider small business clientele more lucrative and therefore, they adopt varied techniques of attracting the sector.

What are payment methods?

While considering credit cards, one of the main determinants which should be consider is the payment method. You have to decide that whether you are intended to carry a balance on your credit card or planning to pay off your entire balance at the end of every month. If you will carry a balance then you should look for a card which has a low rate of interest.

Benefits of small business credit cards-

Avoid mingling of various transactions: If you will mix your business and personal transactions then it can create potential tax and money management problems. But by using a small business credit card, you can easily differentiate between various transactions and can tell others that you have adopted a serious approach towards your business.Easy itemization: Tracking properly your business expenses at the end of year can be a nightmare for various small business owners. It is true that there are various credit card companies which offer year-end statement summary with the proper categorization of transactions. If you will effectively organize your bookkeeping process with the help of small business credit card then you can save both your time and energy.Building business credit: With the help of small business credit card, you will get the chance to do build business credit. It will prove useful for the newly established businesses who want to build credit for their business. It will also prove useful in the future when your business will grow and you require capital in the form of credit lines or loans.Special Rewards: Due to the competitive credit card market in India, various companies have launched their credit cards with attractive reward and discount programs. These rewards can be in any form like cash back, frequent flyer mileage, no annual fees, no interest on balance transferring and many more. It is recommended to get benefits out of these and lower your expenses in accordance to that.

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What is Virtual Credit Card?

A Virtual Credit card is a Prepaid Credit card which enables you to use the online shopping facility in a very easy manner without giving out your private Credit card details with any of the websites offering different stuffs. There are many requirements to get a Credit card in Asian countries like you should have a bank account having a good Cash and if you are a Government employee then only you can apply for a Credit card.

Benefits of Virtual Credit Card

•  If you are an Asian then this Virtual Credit card enables you to send Funds to various people of the world.
•  Its works as a VISA Card that means you can use it anywhere where in the world where VISA card can be used.
•  This is a virtual credit card so stop bother about its condition and protection.
•  A Virtual Credit card helps you to use the online shopping facility without giving out your credit card details with the shopping websites.
•  You can control the balance on your card.

Why there is a need of Virtual Credit Card

In the today’s century the use of working online is emerging like a rising sun. People all over the world like to work online. Students are doing there all work online but due to some restriction from the online Bank i.e. PayPal. PayPal account holders from Asian countries like India, Pakistan, Nepal, SriLanka are not be able to send money from their PayPal account to other people.

Sometimes while working online you need to send the funds to other person then you need a Virtual Credit card to send Funds. But for a student getting a Virtual Credit card is really a tough work as they are not having monthly salary nor they are having more cash in their accounts.

Now what will be the solution for this problem?  Credit card is the only way for this problem. You just need Virtual Credit card and use it online for your daily routine or shopping like a real Credit card or a VISA card. A virtual credit card is a credit card that does not originally present. You have particular credit card number, an expired date and a 3 digit CVV code.  You do not have a bit of plastic that you can give to a store mercantile.

Enjoy your shopping using Virtual Credit Card, VCC & Facebook VCC.

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How To Avoid Credit Cards Misuse: Different Security Measures To Ensure Safe Usage Of Credit Cards

The imperative concern for credit card holders is for the security which is providing while using the card. There are varied dangers that are involved with the credit card usage and which exist all along the way. It is necessary for a credit card user to feel comfortable about the fact that there is optimum safety of his/her money and there is no involvement of fraudulent activity of any kind. There are many such instances where people hesitate in availing online facility and thus do not use credit cards on the Internet because they fear of the cards being hacked and misused. Such situation proves costly for both the credit cardholder & commerce as a whole.

Dangers involved with credit card-

There are varied dangers that are facing by credit cardholders whenever they use a card. One of the prime areas is the danger posed to the credit card usage on the Internet. When an individual uses credit card on the internet then he always fear that the information on the card can be captured and misused by another person. The other common worry is that the plastic money can be stolen or lost, and it can use by someone else for unauthorized purposes. At the same time, there are several such cases when people find out that the card which has been issued in their names has not come to their postal address and thus received by someone else while the bill is being sent at their address and thus, it also leads to fraudulent usage.

Security features for preventing the credit card misuse-

There are varied securities features which have been proposed for credit cards and after their implementation, the situation can be expected to improve. However, it is necessary that credit card holder takes due care in the entire process of credit card usage because prevention is better that care and therefore, being alert is the most convenient ways to ensure that no misusing of card is done.

The first thing that has been recommended is that cameras should be there at such places where there are more chances of misusing of credit card, especially ATMs.

In the past also, there have been several cases where a card was unauthorizedly used for withdrawing money from the other person’s card after stealing it and its password. Once there are cameras, it will become easy to track down culprits.

Today, if you will look at your credit card then you will find that most of the cards just have your name, the credit card number and varied other details, including expiry date and the CVV number on them. It is proposed to have a photo also on your credit card so that it acts as the proof of identity. Once this is done then it will  become easy for the person across the counter to see that only the credit card which has been presented to him, is containing the photo of the owner and only the person who is authorized to use the card, is using it.

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Use Credit Card For Your Own Benefits

Credit card is one of the most useful tools that one can use to track all expenses, but often credit cards has got some bad reputation from financial world. The reason behind having a bad reputation is the hike in interest rate and the debts. Bu if you use your credit card wisely then you can enjoy ample amount of benefits from it.

Increase your credit score:

If you are using your credit card wisely, then you can build your credit score easily. All of those purchases that you have made in your lifetime through credit card can easily increase your credit score with a good credit rating. Having a good score and a good credit rating will help you to qualify for a loan with a better interest rate. The only thing you have to take care off is the monthly balance. Paying off your monthly balance will increase your score and interest rate with time.

Bonus reward:

Rewards are loved by everyone, what if Credit Company pays back with some bonus rewards. Many Credit Company offers attractive bonus rewards in the form of points such as travelling or buying any merchandise. Some Credit Company offers cash rewards or may let you stay free in a hotel for some days.

Rewards cards are the best scheme to maximize your reward point. If you travel a lot you can select a card with travel rewards points or if you mostly use your card for buying merchandise you can choose a card with utility rewards points.

Convenient to use:

Credit cards are much more convenient to use as compared to a debit card or a bunch of cash.

Cash are bulky and are likely to get damaged. Debit cards are also convenient to use but after having a transaction you are charged with transaction charges depending on the bank or the retailer. While using a credit card you only have to carry a piece of plastic to do all the transaction and buying and you can pay off all your balance at the end of the month. If you are able to use your credit card wisely by paying off all of your balance you can save some time and money.

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Best Deal in Credit Cards With Need Credit Cards

In UK, there are plenty of service providers engaged in providing credit cards to individuals as well as companies. With so many options, you have a golden chance to compare these credit cards and select the card that will give you the best deal. Suppose you pay all your bills from card, then you need a credit card that helps you – with travel rewards, airline miles, gift cards and free meals at restaurants. The best way to compare the different offers is to understand properly what type of credit card user you are.

Mentioned below are some of the instructions that will help you avail best deal with your credit cards:

1. Examine the previous year's credit card statements to find out how frequently you gave your bill in full at month's end. People who pay all their bills using cards can search go for discount credit cards that offer rebates and additional perks. Users who hold a balance, they are better off comparing credit cards on the interest rate basis.

2. If you hold a balance then it is essential to evaluate the interest rates on cards. Seek a card which has a low interest rate. People who opt for variable rate cards may face an unfavorable jump in the interest rates, and make a big harm in their pocket.

3. Examine your mail in order to determine credit card offers such as cash back, statement credits and points towards free gift vouchers and product. These discounts are not difficult to place in the mailbox. As a matter of fact, they strive to excite you with the discount given in bold print exactly on the top of the envelope.

Note down those discounts for further search.

4. Read out the terms and conditions of every bonus carefully and ensure you can fulfill the needs. Several credit cards provide the discount after your first buy, while others need you to pay a couple of dollars within a fixed time period.

5. Enter the site of the airlines you go for most often. Seek out any discounts they are providing for their co-branded credit cards. Several airline businesses in UK provide discounts that will provide you halfway – or further – to a free ticket.

6. It is important to know the fine print of every card for yearly fees and other expenses. You will want to determine for yourself if the value of the discounts equals to the presence of a yearly fee.

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Couple Get Themselves into $97,000. Debt and Get Out of It Following Easy Steps

A Minneapolis, Minn., couple paid off $97,000 in credit card debt in 5-1/2 years

The couple's massive debt reduction earned them the Clients of the Year award from the National Foundation for Credit Counseling, a nonprofit association of credit counseling agencies that help consumers manage their finances and get out of debt. The winners were announced this week at the group's annual meeting in San Francisco.

How did the Baileys end up in such a predicament? From 1992 to 2005, they ran up bills on 17 different credit cards. During that time, they paid for two weddings for their daughters, replaced the transmission in their car when it blew out, made numerous repairs on their home and replaced the roof when it started to leak.

Everything went on a credit card. Jim was a local pastor and handled the family finances but didn't let his wife, a nurse, know how much debt they were amassing.

The magnitude of their financial woes hit home when he told her they had to put the cost of their daughter's wedding reception on a credit card. When they added up all the bills, the $97,000 total debt was staggering.

They recall being afraid to go to the mailbox for fear of the bills they would find there. Sue Bailey says when she was home alone, she checked the caller ID before answering a call. If it was a bill collector, "I wouldn't answer the phone," she says. "That is no way to live your life," Jerry Bailey says.

The couple sought help in May 2005 from their local credit union. A representative suggested they file for bankruptcy, but the couple dismissed that option. "We just don't believe in that," Sue Bailey says.

"We believe in paying what we owe."

The credit union then suggested they contact GreenPath Debt Solutions, a nonprofit credit counseling agency and NFCC member based in Farmington Hills, Mich.

GreenPath and other nonprofit credit counseling agencies enroll financially troubled consumers in debt management plans to pay off outstanding debt. Clients agree to make monthly payments to the credit counseling agency, which distributes the money to creditors each month until the debts are paid off. The agencies have a long track record of negotiating with creditors to reduce interest rates and make affordable monthly payments.

The Baileys' road to debt freedom wasn't easy. Sue Bailey had to briefly stop working as a visiting home nurse when she needed foot surgery. Their GreenPath credit counselor, Mary Haas, stepped in to help, contacting creditors seeking further reductions in payment amounts. All but two agreed to reductions.

Through budgeting, sacrificing and taking on extra work to earn more income, the Baileys paid off their debt in October 2011. Jerry Bailey says he didn't believe it when he got the call from Haas that they had completed the program. He couldn't believe he was finally finished. "I had her repeat it because I wasn't sure," he recalls.

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A Simple Guide On How To Improve Your Credit Score

Remember your biggest asset financially is your credit score and if it is on the higher side, you would have low rates for borrowing. But God help you if the score isn’t too good, hundreds of more dollars from your account would be spent trying to pay the high lending rates. Hence what you need to do is to Improve Your Credit Score, get it repaired whatever, and raise the rating on your credit report ASAP!!

What is your credit scores based on?

Repayment historyThe debt you owe as of nowThe credit checks done recentlyHow much you make etc

 Here is what you do

If you have revolving credit car payments to finish off, get them done off ASAP. Pay them by the deadline and pay a little more than you can. Pay the debt before the end of the month, and if you work with two, pay one of in full and minimize the next, and when you gather enough funds for the second one while paying its minimum all these months, pay that off in full as well.Your salary would be the income you make on a monthly basis. The credit reporters would crunch to match them with your earnings. If there is a debt you have which is more than what you make, the credit score would be low. If you freelance and can afford to do another job to increase the earnings, do so and make the credit score go high.There are official companies online which would allow you to have access to your credit score. And they would also tell you the level of it as well. You can then decide what to do to raise the scores.STOP applying for every credit card and car loan or home loan, it just shows you as someone who is in need of finances and desperate that too. Every time you make a new swipe from that card or buy a home or car, the credit id checked and the scores lowered until all is PAID IN FULL.Get a saving account opened ASAP, and make a monthly budget for the same. This ensures you have the cash in excess you need when rainy days hit.

So now we hope you know how to improve your credit scores, all the best!!

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