Avoiding Credit Card Penalties

It is a sad fact of life that credit card companies are very willing and fast to slap a penalty charge on your account for every mistake, delay and slip up you cause, immediately and without a second thought. These penalty charges can amount to millions of dollars taken from consumers each month. They are a necessary part of all credit card operations and are fair in the sense that it means that customers who do everything correctly and on time are not penalised for the extra work and expense that other customers cause, but what you will want to do is make sure you are not one of the unlucky customers that is paying for these extra expenses.

The best way to avoid these penalties is to look at the entire situation from the point of view of the credit card company. Really, all they want from you is to keep your card safe, to stay within your credit limit, and to make at least your minimum payment, on time every month. If you manage to do these simple tasks you will avoid ever incurring a penalty on your account.

The problem is that it is very easy to slip up on these things. It’s not easy at all to keep track of your outstanding balance, especially as we use credit cards for more and more things and companies begin placing holds and other such transactions on customers accounts without them necessarily knowing or understanding about them. Then there is the fact that it is very easy to forget or become late on a payment. Every one has busy periods in their life and sometimes we simply have other more important things on our minds than paying our credit card bill on time. Some people are less organised than others and for them it can be very difficult making sure all their credit cards are paid out in full and on time.

If your card is lost or stolen without any fault on your part, and you call your credit card company as soon as you find out, you will only be liable for a maximum of $50 dollars. And if you manage to let the credit card company know before any thing has been spend on your stolen card you will not be liable for any thing. This is also the rule that applies for identity theft and fraud so you can feel safe using your credit card online. Taking a few simple steps can mean you are virtually never subjected to credit card penalties.

sourses : forums & blogs

Credit Card Faq

With the ever rising reports of credit card fraud, fraudulent use, internet phishing and identity theft, people are rightly concerned about credit card security. Fraudulent credit card use can be an annoyance at best, and seriously damage your credit at worst. It's only reasonable that people have questions about credit card security and authentication methods. Here are some of the most frequently asked questions about credit card security.

1. How does the ATM or store terminal know my PIN number?

PIN (personal identification numbers) are the most often used way to authenticate your identity when you use your credit or ATM card. When you first choose your PIN number, it is 'encrypted' - stored in a secret code of letters and symbols - and either stored in a database or on the magnetic stripe on the back of your card.

2. If my PIN number is stored in a database, doesn't that mean that bank or credit card employees have access to it?

The encryption method that's used by ATM and credit cards is called 'one-way encryption'. It makes it easy for the bank's computer to verify the PIN given the bank's key and the PIN, but nearly impossible to extract the PIN in text form from the encrypted database.

3. How does the machine 'read' my card?

The stripe on the back of your credit or ATM card is called a magnetic stripe. It's actually made up of thousands of tiny magnetic iron-based particles. The card can be 'written to' much the same way that the hard drive on your computer can be written - by means of magnetic interaction changing the charge. Written into the stripe are your account number and identifying data. When you swipe the card, that information is read and sent via modem to an 'acquirer' - a company that 'acquires' a payment guarantee from the credit card company based on the information stored on your card's magnetic stripe.

4. Isn't buying on the internet dangerous and insecure?

Honestly? Your credit card information is in less danger being transmitted over the internet than it is when you hand your card to a store clerk at the counter. The real danger to your credit card information isn't from hackers hitting online merchants, or stealing your credit card information via modem or phone lines. The real internet security dangers come from two different directions:

a. Hackers using back doors to get into the records of banks, credit card companies and data repositories.

This is the biggest danger. It's also a danger for stores and companies that have records 'online' for billing purposes. There's a great deal being done to improve security of data repositories, which are far more vulnerable than any data transmission stream.

b. The second big credit card security danger is the practice that's sometimes called 'phishing'. In this case, the credit card thieves trick you into giving them your identification and credit card data. They may do this with an email purporting to be from an official of your internet service provider or email, your credit card issuer or anyone else. They also may build sites that are identical to sites like Paypal, American Express and others for the express purpose of capturing your information so that they can use it.

5. How do I protect myself from phishers?

First, never provide your social security number or other identifying data to anyone without first verifying that they are exactly who they say they are. Experts recommend that you never use the link provided in an email to go to the site of someone you do business with. Instead, open a new browser window and type in the known address by hand

You may freely reprint this article provided that the author bio and live links are left intact.

Please visit egypt business for more article.

Argentina Rejects Repsol's $10.5 Billion Claim for YPF - San Francisco Chronicle

View the original article here

Stock futures dip after strong gains, earnings eyed - Reuters

1 of 2. Traders work on the floor of the New York Stock Exchange, April 17, 2012.

Credit: Reuters/Brendan McDermid

By Chuck Mikolajczak

NEW YORK | Wed Apr 18, 2012 8:05am EDT

NEW YORK (Reuters) - Stock index futures dipped on Wednesday after the S&P 500 tallied its biggest gain in a month and ahead of another round of corporate earnings.

The benchmark S&P on Tuesday climbed 1.55 percent, its biggest percentage gain since March 13, after Coca-Cola Co (KO.N) led a round of solid earnings reports and after concerns eased over the euro zone debt crisis.

"What we've seen lately is when we see one and a half percent moves here, up or down, the markets tend to take a pause the next day, as opposed to snapping back that one and a half percent the other way," said Keith Bliss, senior vice president at Cuttone & Co in New York.

According to Thomson Reuters data, 22 companies in the S&P 500 were expected to report results on Wednesday. Including American Express Co (AXP.N), Qualcomm Inc (QCOM.O) and eBay Inc (EBAY.O).

Of the 39 S&P 500 companies reporting earnings before Tuesday's opening bell, 74.4 percent beat estimates.

International Business Machines Corp (IBM.N) shed 2.4 percent to $202.50 in premarket trade after reporting quarterly profit late Tuesday that beat expectations but revenue missed estimates.

"If we get declining sales and revenue across the board in these companies that are reporting in the first quarter, then we really need to take a pause and try to figure out what the proper valuation for the stock market is, and I'm not sure the proper valuation is up at these levels right now," said Cuttone's Bliss.

Intel Corp (INTC.O) dropped 3.2 percent to $27.55 premarket after the chipmaker said late Tuesday sales would accelerate in the second half of the year, but the costs of upgrading its chipmaking factories were temporarily hurting margins.

S&P 500 futures fell 3.4 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures lost 38 points, and Nasdaq 100 futures declined 9 points.

BlackRock Inc (BLK.N), the world's largest asset manager, said first-quarter profits were steady, bolstered by strong inflows into its popular iShares exchange-traded funds.

Halliburton Co (HAL.N) advanced 1.4 percent to $33.10 in premarket after the world's second-largest oilfield services company reported higher quarterly profits as North American revenue reached a record high.

Diversified manufacturer Textron Inc (TXT.N) quadrupled its quarterly profit, helped by a strong recovery in demand for business aircraft and helicopters. Textron shares gained 1.3 percent to $28 premarket.

Nestle SA (NESN.VX), the world's biggest food group, is near a deal to buy Pfizer Inc's (PFE.N) infant nutrition business for up to $10 billion to boost its China business and extend its lead in the baby formula milk sector, sources said.

SXC Health Solutions Corp (SXCI.O)(SXC.TO) will buy pharmacy benefit manager Catalyst Health Solutions Inc (CHSI.O) for about $4.4 billion. Catalyst shares jumped 32.2 percent to $84 and U.S.-listed shares of SXC climbed 8.5 percent to $87.10.

Berkshire Hathaway Inc (BRKa.N) Chief Executive Warren Buffett said he has stage 1 prostate cancer but his condition "is not remotely life-threatening or even debilitating in any meaningful way.

European shares .FTEU3 fell 0.6 percent as losses in utilities outweighed strength in miners. .EU

Asian shares rose as firm demand at a Spanish debt sale and positive corporate earnings boosted investor confidence in riskier assets.

(Reporting By Chuck Mikolajczak; editing by Jeffrey Benkoe)

View the original article here

FOREX-Euro dips vs dlr, investors still wary on Spain - Reuters

* Euro pressured by Sarkozy comments on exchange rate

* Market bracing for Spanish bond auction on Thursday

* Yen falters as Japan trade deficit, easing in focus

By Nia Williams

LONDON, April 18 (Reuters) - The euro fell against the dollar on Wednesday after French President Nicolas Sarkozy said a strong euro hurt exporters, and it looked set to stay pressured with investors still wary of Spain's fiscal problems and wider euro zone debt contagion.

Traders cited selling by Swiss investors after Sarkozy said the euro's exchange rate should be up for discussion with the European Central Bank.

The euro edged lower throughout the European session to hit a session low of $1.3076. The move erased modest gains made the previous day on upbeat earnings from U.S. companies, decent demand at a Spanish bill auction and a better-than-expected German ZEW sentiment survey.

Market players said the euro could post further losses ahead of a Spanish bond auction on Thursday, and poor demand and high yields at the auction would aggravate concerns about Spain's fragile fiscal position.

"The euro is in a very narrow trading range as we wait for tomorrow. There is a lot of uncertainty in the market and people will speculate on a bad outcome, which should be a burden for risky assets," said Lutz Karpowitz, currency strategist at Commerzbank.

Comments from ECB policymaker Jens Weidmann that Spain should not expect the central bank to tackle rising debt yields by buying Spanish bonds also weighed on the common currency, although strategists said the impact was limited as Weidmann's opposition to the policy was well-known.

There was little reaction in currency markets to Germany selling two-year bonds at a record low yield.

The euro has traded roughly between $1.30 and $1.35 since January, and has struggled to rise above $1.32 since early April. CitiFX Wire said in a note that its traders were looking to buy the range-bound currency on dips.

"It's a sideways movement because we do not know exactly what happens with QE3 in the U.S. and on the other hand we have the European debt crisis which is not solved. It's very difficult for investors to take a stance," said Karpowitz.

Investors are still looking for clues as to whether the U.S. Federal Reserve will opt for another round of asset purchasing this year, known as QE3. More loose monetary policy aimed at stimulating growth would be expected to weigh on the dollar.

YEN FALTERS

In recent weeks there has been a growing perception in the market that the Fed may not hint at further easing at its April 24-25 meeting, in contrast to expectations the Bank of Japan will take fresh easing steps on April 27.

Bank of Japan deputy governor Kiyohiko Nishimura said on Wednesday that the central bank was ready to ease policy further if necessary to help Japan's economy recover.

Those expectations weighed on the yen, which also came under pressure ahead of Japanese trade data on Thursday that is forecast to show Tokyo's trade balance swung to deficit in March after a small surplus in February.

The dollar rose 0.7 percent against the yen to 81.43 yen. The euro traded up 0.5 percent on the day at 106.61 yen, rising clear of Monday's low of 104.62 yen.

Some analysts said the market was pricing in further easing too aggressively, opening the door to a rebound in the yen.

"Even if they get 5 trillion yen extra in asset purchases it probably won't be enough because the market is expecting so much. We recommend holding dollar/yen shorts going into the meeting," said Geoff Kendrick, currency strategist at Nomura.

Sterling rallied against the euro and dollar after minutes showed the Bank of England was concerned about high inflation persisting into the medium-term and one policymaker dropped his long-standing call for more stimulus.

The euro fell 0.7 percent against the pound to 81.87 pence, its lowest level in 19 months and below reported options barriers at 82 pence.

Meanwhile, Swedish crown rose to a two-week high against the euro of 8.8350 crowns after the Riksbank left rates on hold and said it expected to keep them there for at least a year.

View the original article here

Spain banks' bad loans highest since Oct '94 - Reuters

MADRID | Wed Apr 18, 2012 5:41am EDT

MADRID (Reuters) - Spanish banks' bad loans rose to their highest level since October 1994 in February, to 8.2 percent of their credit portfolios, Bank of Spain data showed on Wednesday, as the sector continues to battle sliding house prices and a looming recession.

Banks are facing a new wave of loan defaults as an economic crisis deepens and analysts say some may not survive as the government implements sweeping budget cuts that will only add to Spanish households' problems with repaying debt.

Non-performing loans increased by 3.8 billion euros ($4.99 billion) to 143.8 billion euros in February from the previous month. They totaled 7.9 percent of total debt portfolios in January.

That picture - driven by the collapse of a housing boom in the global financial turmoil of 2008 - is at the heart of problems for Spanish banks that have seen other institutions refuse to lend to them and forced some to rely on the European Central Bank for funding.

Spain's unemployment rate is already the highest in the European Union and is expected to rise further - putting more pressure on consumers and households.

House prices also fell another 7.2 percent in the first quarter from a year earlier, according to the Spanish Public Works Ministry.

The Bank of Spain on Tuesday approved all 135 Spanish banks' plans to boost capital but said some may face difficulties meeting tough requirements set by the government.

The government set strict recapitalization requirements in February to clean up the sector in an effort to reassure investors its ailing lenders won't need international help. ($1 = 0.7610 euros)

(Reporting by Jesus Aguado and Julien Toyer; Editing by Paul Day and Patrick Graham)

View the original article here

Six key areas for Tesco's revival - The Independent

Its 2,800 stores have been criticised as cold and industrial with poor levels of service, while analysts said the UK business was seen as a cash cow to fund overseas expansion.

Mr Clarke has launched a comprehensive £1 billion plan to make the stores warmer and easier to shop in, with better ranges and more special offers.

Here are the six areas that will underpin his turnaround strategy:

:: Service and staff

Tesco will recruit 8,000 workers on to its shop floors this year, particularly in larger stores and fresh food departments, after being accused of reducing staff numbers in these areas. A recruitment drive in 200 stores led to a sales boost and will be copied group-wide in a £200 million investment.

:: Stores

Some 430 stores, or a quarter of its space, will be given a warmer look and feel, with better lighting and signage to make them more pleasant places to shop. Tesco's rapid expansion, which has given it a 30% share of the grocery market and led to complaints of "Tesco towns", will be slowed by 38% as it focuses less on big stores and more on its Express convenience stores.

:: Price and value

Tesco's £500 million Big Price Drop launched last year was branded a flop after it failed to impress shoppers, partly because it was funded by a reduction in Clubcard points. Tesco will revamp the scheme by offering more special offers in addition to permanently dropping the price on staple items. And it will give away more money-off coupons to Clubcard holders and at checkouts following successful recent trials.

:: Range and quality

It is rebranding its Value range as Everyday Value and has ditched the long-held blue and white branding. Tesco's standard ranges, which represent 40% of its UK food sales, will be "comprehensively upgraded" with 2,000 new lines added this year and its Finest label also set for an overhaul.

:: Online

The number of products available online has been doubled to 75,000 while its website has been relaunched as part of investment worth £150 million this financial year. Shoppers will be able to pick up the goods they order online through 770 click-and-collect points, while joint grocery and non-food collection services are also being trialled.

:: Brand and marketing

Tesco wants to improve the image of its brand, which some argue has been tainted in the UK by years of under-investment and will make more effort to understand what shoppers want.

View the original article here