In today’s fast paced and expensive world, the 0 credit card is perfect for you, if you are starting out as a beginner. Man in his constant race against time is looking for newer and faster technology to speed up operations for him. However as all operations of man is driven by money hence speed of transaction also becomes a very important issue to be looked into. For this, almost all the monetary transactions in today’s world are being done through credit cards.  While credit cards can give man the power to purchase things anywhere in the world at any time of the day yet being ruled by cards has its own disadvantages too.

With power, there comes a lot of responsibility. People in their haste to wrap up transactions use credit cards for everything and soon their credit bill gets piled up and becomes a headache for them. Most of the people suffer from huge credit card debts today and this is mainly due to their extravagant spending. That is why as a beginner or a new spender you may hesitate a little before getting a credit card and falling pray to the trap of overspending huge credit debts. However, realizing this predicament of a new spender, major banks have come up with the 0 credit card which suits the requirements of a new spender perfectly.

The offer, which the banks make to you through the 0 credit card, is that no interest or 0% interest will be charged on the amount that you borrow for a stipulated period of time. This stipulated period can vary according to the rules and regulations of the different banks. However, you, as a new spender, must remember that interest being charged is 0% but you still have to return back the amount that you have borrowed. According to experts, the credit card if used properly is the best borrowing agent available. There are some steps, which you must take to ensure that you do not go into credit debt and to ensure that you can use the full benefits of getting 0% interest.

The first and foremost step is to plan your expenditures. Often people go on a spending spree and forget the amount that gets piled up on the credit bill. That is why it is extremely important to plan expenditures keeping in mind your income. Expenses proportionate to income goes a long way in ensuring that you do not spend extravagantly and end up deep in debt. Moreover, you should also try to save some extra money outside of the stipulated amount that you keep aside for your monthly bills. Here is where the 0 credit card is really helpful. Since no interest is added, the amount remains the same and if you can pump in some extra money then you can quickly pay back to the bank the amount that you had borrowed. You should also be careful while choosing the right bank to get your 0 credit card from. Choose only the bank, which gives you services and transactions according to your needs and likings.

A merchant credit card account is necessary for processing payments made through credit lines or payments online, unless you’re going for the more laborious method of taking cash or check only. A merchant account is basically what you open in a bank when you want to process credit cards as part of your business; these merchant accounts are where your money will be coming from at the charge of a small fee for processing the credit card information.

Banks who sell merchant accounts are acquiring bank. This bank promises to process the credit card information you receive, verify it from the bank that issued that credit card (called the issuing bank) and then pay you for what you are owed for a small fee for going through these three steps.

In case of fraudulent credit cards or bad information the banks are liable for the money, meaning that you, the merchant, are still good for what you are owed by the customer. They like to keep an eye on, and set their own rules for, most merchant accounts because obviously lack of care in accepting credit cards will impose more and more liabilities on the bank itself.

If however, it is not you who is duped but the credit owner himself, for instance if his card was stolen, then he will contact his issuing bank to be compensated for the missing money and that liability ultimately falls upon the merchant.

All this is quite a complex network of checks and balances already, and to make matters worst there are a lot of fees and charges associated with merchant accounts that aren’t all the merchant’s headache but nonetheless something they should be familiar with.

These include the initial application fees or account registration fees, the infamous discount rate (the largest of these fees, this is the interest the banks charge on every transaction that you make, typically 2-3%), a non-proportionate and fixed transaction fee which is what you pay every time you send information for processing, monthly minimum fees for continuing to own a merchant account and a chargeback fee if you don’t want the liability of purchases made with stolen credit cards.

The discount rate isn’t fixed either; it varies on the type of transaction made. If you make a particularly high risk/low information transaction you could be charged double or triple the usual discount rate.

So why bother with a merchant account anyway considering all the trials and tribulations, not to mention the seemingly excessive costs?

Well, the basic reason is that it’s what the consumers want. At the end of the day, plastic money suits the consumers not the sellers, or at least not as much; but there wouldn’t be any sellers without buyers so giving in to consumer demand and making them happy is the inevitability of the economic process.

Also, not all the costs are ultimately borne by the merchant himself. Many of these are spread over to the acquiring banks and the credit card issuers themselves.

And lastly, in such elaborate networks there are many safety nets, and especially in online transactions where nothing can be taken for face value (nothing has a face there anyway) safety nets are important for consumer and seller alike.

Now a day getting your credit card is easier than ever. There are several options available where you can apply for it. In most of the cases, it entirely depends upon your choice that what you would prefer. Some times, you get credit card offers via traditional mails from your bank. Although such offers have high claims, but reality is quite opposite. They declare you pre qualified according to their terms and conditions. When you apply, you have to wait for days before having any response from them. Some time they will ask for additional documents and other verifications in order to carry on with your application.

My piece of advice to you is, better consult your bank directly instead of applying through any agent. There are many companies out there; most of them actually have great boost and little roast to offer you. If you have a sound bank statement and sufficient balance in your account, you can apply online for it as well. Your good credit will bring best offers from different banks and financial institutions.

Getting your card online is quite easy; they will approve your application within minutes. You will be able to use your card within a couple of days. Another benefit is, you can check your credit report online any time. Once you have decided your credit card company or bank, carefully read all terms and conditions. There are many hidden charges and costs, beware of these so called benefits.

Regardless of which company or bank services you check online, they’ll all inquire your personal information, such as your name, telephone number, social security number, gender, occupation, monthly and annual income, and other related issues.

When you start filling any application form online, you should make sure that the site you’re using is ciphered. The encrypted web sites ensure that data you are entering is protected. Your site should have stander encryption that is SSL 128-bits; any encryption, which is less than SSL 128 bits, is not safe. There are chances that some one can steal your information and use it. Beware of such identity theft.

When you’ve finished filling out the application, you will have the final judgment in a matter of seconds.  If you’re applying to an online company with latest technology, the decision will be displayed on the screen.  If the decision is not displayed on the screen, it will be posted to you via conventional snail mail.  In case that you are not approved, you will be informed the reasons as well. If your application is approved, you will be able to receive your card in the mail within a couple of days.

On the other hand, you can apply directly through your bank. They will provide you relevant information regarding interest rates and best possibilities for you. You have to fill out an application, providing your personal information. Your bank will check your data and send you within a week through mail. After getting it, you can activate it by calling on the number provided to you by post with your card.

Enjoy shopping!!!

Choosing your first credit is as much a rite of passage as it is a consumer choice. Don’t have misgivings about it, on your first attempt you will mistakes, you will choose the wrong option, you will miss payments, you will get into a little trouble but you will go through the entire experience to become a better consumer, which is a better thing than becoming a better person in this day and age.

But before you take the plunge, there are some considerations to be made. You must have a steady source of income, it can be anything from a job to a trust fund but it must exist. Otherwise you’ll be in trouble before you can even enjoy all the benefits of plastic money. Secondly, you must have some discipline when it comes to shopping. Shopaholics and credit cards are usually a bad match, but shopaholics with their first credit card are a disaster waiting to happen.

Eventually, after you’ve built a good enough credit history you can have the shop till you drop card deals. But until that day you’ve got display responsibility and resist temptation.

Thirdly, look closely at and understand all the figures and numbers on your credit card of choice. There might be some terms (like APR) that confuse you. Don’t worry, you can find explanations of each and every term and abbreviation on the internet. APR, for instance, is the annual percentage rate or in simpler terms, the interest rate you’re going to be paying on your loans.

Every time you make a transaction with your credit card, it is considered taking a loan you have to pay for later. The APR percentage points are what’s going to be charged as fees on every transaction.

Look at the all the APRs and annual fees carefully and evaluate what you’d be comfortable paying. If you miss payments these things tend to add up exponentially and increase the debt that you owe to unmanageable degrees. Credit card bankruptcy is a very real and serious issue, so be careful.

Once you’ve chosen a card and actually gotten your grubby hands on it, there are still some cautions worth keeping in mind. Don’t lend your card to anyone, even your own mother. Don’t leave your card receipts lying around, even in front of your own mother. Don’t write your card number anywhere unless you’re absolutely sure that no one else has access to it.

Never give your card number over the telephone until you are certain of the repute of the person or organization on the other line. Keep your credit card expiration date and payments dates in mind, or write them down and keep them somewhere safe. Immediately contact your card issuer if you suspect that you’re being had or a payment has been made on your card that you didn’t authorize.

Remember, a credit card offers great consumer power, but with great consumer power must come great consumer responsibility.

I have met many credit card fraud victims. Most of them are victimized, because they are not aware of security policies of their Credit Card Company or bank. At the end of the day they have to face a lot of hassle and annoyance. If you have a credit card and you use it quite frequently, you should know security features of your credit card in detail. If you want to avoid hassle, always make sure your credit card company provides good compensation and plenty of security.

All over the world credit card fraud is quite common and increasing with every passing day. Credit card users are becoming wiser and aware of the risks, involved in credit card use. Consumers are well prepared to protect themselves, they are more aware of the situation. People are getting more and more concerned about their security policies and online use of credit cards. They look for encrypted sites before typing any pin code or personal information.

Credit card companies all over the globe are devising better security systems, to avoid such frauds from happening. Although great progress has been made in this regard but no security system is foolproof. The best possible method to avoid such incidents is to link your credit card with your cell phone. Your credit card company will send you an instant message on your cell, whenever your credit card is swept.

Another important thing to keep in mind is, check your credit card statements regularly. If you find any sort of discrepancy in your statement, immediately inform your credit card company. You should pursue such fraudulent charges quickly. In This way, they check it and try to retrieve the DOLLARS that were illicitly stolen from you.

There are many frauds on Internet; they will send you fake emails apparently from your bank or Credit Card Company. Beware of such fake mails. Never reply to such mails fake mails. Always use caution before giving your personal information or pin codes online. Reply only if you are cent percent sure that this email is actually sent by your credit card company, don’t reply if you have even one percent ambiguity.

A simple method to protect your self from credit card fraud is, keep an eye on your credit card every time you use it. Whenever you give your credit to any sales man for any payment make sure you get it back in your hand quickly. Always enter your pin code carefully and safely. Keep you credit card in your pocket book, so it might not fall from your pocket.

There are always measures that you can take, to avoid such frauds. Thieves and crooks are everywhere to trap you, don’t trust any body. Criminals to steal your hard earned money are devising every day new methods and techniques. Take action promptly if you smell any thing fishy; quickly report to your bank or Credit Card Company.

If you want to keep your credit card safe keeps your eyes open and be careful in use of your credit card.