8 Considerations For Using Your Credit Card Abroad

Are you planning to travel abroad this summer? Which credit card you take with you on your next international trip could have a big impact on the final cost of your journey and on how smoothly your trip goes. Here are the terms and features you should look for when choosing the right credit card for travel outside the United States.


1. Foreign Transaction Fees
Many credit cards charge a foreign transaction fee of 3% per purchase. If you pay for all of your hotel stays and most of your meals and other expenses on a credit card while you’re abroad, those repeated 3% fees will add up by the time you get home.

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The Path to Good Credit After College

Dear Opening Credits,
I do not have a credit card because I just graduated from college. I owe on student loans that I need to repay, but in the meantime I would like to get a credit card of my own and want to get a credit history so I can get a card.What do you think I should do? Would a prepaid card help me? Thanks for your thoughts.
-Vanessa

Dear Vanessa,
Congratulations! Did you know that only about a third of Americans have four-year college degrees? And now that you do, it's time you augment it with some real life lessons about money and credit. Here's my four-part, tuition-free course:


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• Secured Credit Cards
• Prepaid Credit Cards

New Bank Rules: Free Credit Scores with Loan Denials

Most of us don’t know our credit scores, but beginning next week there will be a new, free way for some of us to learn. Starting July 21, if you are denied a private student loan, small business loan, mortgage or credit card — or even given one but with a less favorable rate — the lender must provide you with a letter explaining why, and include the credit score it used to arrive at its decision.

The Federal Reserve Board and Federal Trade Commission jointly decided to enact this law to help create more transparency in the lending market. But if you don’t know your credit score ahead of applying for a loan, best not to wait for a rejection letter from the bank.

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Lenders now have to tell you your credit score if denied

CAPE GIRARDEAU, MO (KFVS) - If you don't know your credit score, you might find out from an unexpected source.

Starting July 21st, the government will require banks and lenders to tell you your score if they deny your request for a loan or credit card.

They're just numbers. Just three little numbers. But put those numbers together, and they can be a sign of your future. They can determine if you can buy a car, afford a new house, or open a credit card. That's right we're talking about your credit score.

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Prepaid Credit Card Fees May Drop Thanks to Failed Lawsuit Against Kardashians Read more: http://www.foxbusiness.com/personal-finance/2011/06/16/prep

The drama surrounding the infamous Mobile Resource Card, much better known as the Karadashian Kard, is almost over.

In case you haven't heard, Revenue Resource Group, the Clovis, Calif. company that produced the well-known reloadable credit card, attempted to sue the reality television stars and sisters Kim, Khloe and Kourtney Kardashian, as well as their mother, Kris Jenner, for $75 million. But the case was thrown out this week by a judge in Fresno's California Superior Court.

Revenue Resource Group claimed that the reason the Kardashian Kard tanked as a product was because its celebrity spokespersons disparaged it to the press. Ergo, it was also their fault that other celebrity endorsement deals fell through.


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Debt Adviser: Credit card bill requires discipline to fix

Dear Debt Adviser: I am considering refinancing my mortgage. My plan is to take out cash to pay off my $80,000 credit card debt, which is more than the $63,000 I owe on the house. I can easily handle the new monthly payment. With the savings from not making credit card payments, I can make additional payments on the mortgage principal. My current mortgage has 11 years remaining, and the new mortgage would be for 15 years. So in other words, I'd be paying my house off in about the same time frame, anyway. Would this be a well-advised move? -- Robert

Dear Robert: Eighty thousand dollars on your credit cards? That is a huge amount of debt. Before you do anything, I want you to seriously analyze how you acquired so much debt. You must be sure that you can live day to day without racking up another $80,000 in new debt after any refinancing.

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Prepaid Credit Cards: Stay within Budget this Summer

The cost of living is causing many Brits to worry about their finances this summer, so this article takes a look at how the consumer can take the stress out of budgeting.


A prepaid credit card can be used in a similar way as a normal credit or debit card, in that users can make purchases with it in retail shops, online, and to retrieve cash.

Even if a consumer has a bad credit rating, they will be able to receive a prepaid credit card as a person’s credit history is not even analysed.

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UPDATE 2-Florida AG says investigating 5 prepaid debit card cos

* Subpoenas also issued for possible hidden fees on prepaid debit cards

* Cos issues subpoenas must provide requested information by June 20

* NetSpend, Green Dot shares close in the red (Adds details in para 4, 5, background in para 6-7, 9-12; analyst comment in para 8)

By Brenton Cordeiro

May 19 (Reuters) - The Florida Attorney General's office said it was investigating prepaid debit card companies -- First Data Corp, Green Dot Corp , Account Now Inc, NetSpend Corp and Unirush Financial Services LLC -- for possible deceptive and unfair practices.

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Five Pointers on Using Prepaid Gift Cards

1. Watch out for common prepaid gift card scams. Most prepaid debit cards and prepaid credit cards are well exposed in display stands in shopping centers and department stores. And this makes it very easy for con artists to perform fraudulent activities. Imagine by simply using the details and expiration dates on the cards that they have seen, they can eventually claim the cards their own. And they can even run large balances on cards that they do not physically possess.

So to avoid being ripped off by gift card scams, you must resolve to buy prepaid cards only from vendors that keep their cards behind the counter and out of sight of consumers.

2. Be careful when buying online. Remember that con artists have also infiltrated the realm of the World Wide Web. And if you will not be very careful, you can still end up succumbing to the fraudulent online activities employed by scam artists. So, before signing up for a purchase, make sure that the online company you plan to do business with has a license or accreditation with the federal government and other accrediting bodies. This way, you can have the assurance that the online vendor you plan to deal with will handle your prepaid debit card or prepaid credit card information with utmost confidentiality.

3. Load a substantial amount on your card. Always remember that prepaid debit cards and prepaid credit cards impose charges every time you load money onto your card account. So, as much as possible load at least $100 to $200 at a time. This way, you can avoid making substantial payments on re-loading fees and charges.

4. Keep track of your balance. Companies that offer re-loadable prepaid cards usually provide online banking services to their clients. So take advantage of these platforms so that you can constantly monitor the available balance you have on your prepaid card account.

5. Protect your gift card. Bear in mind that your prepaid debit or credit card contains substantial sums of money. So treat it like cash and keep it safe all the time. Never let it out of your sight especially when you make purchases and pay your bills, either through offline or online shopping portals.

Should I Get A Prepaid Credit Card?

Pre paid credit cards are growing in popularity today since they are technically much easier to avail than regular credit cards. However, unlike a regular credit card, a prepaid card does not give its holder the privilege to make advanced purchases that are payable at a later time. And since the cardholder is not provided with a credit line, issuers of prepaid credit cards are more lenient in approving applicants. In fact, anyone can easily get a pre paid credit card without worrying about the status of his/her credit history.

Who Should Get A Prepaid Credit Card?

Who are the best candidates for owning a prepaid credit card? Today, there are prepaid credit card issuers that provide credit reporting service t the major credit bureaus. Hence, prepaid cards can now be used as tools for establishing credit history or for repairing bad credit history. Despite the limitations, not having a credit limit can actually help the cardholder exercise control over his/her spending and avoid debt accumulation.

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What are Prepaid Cards?

More and more cardholders are currently ditching their regular credit cards and switching to the use of prepaid debit cards and prepaid credit cards. What could be the very reason behind this shift to prepaid cards? And what benefits can you get from using prepaid cards? Allow us to discuss the answers to these questions in the next portion of this short article.

What are Prepaid Credit and Debit Cards?

Prepaid card programs are able to change the way people spend. Through prepaid debit cards and prepaid credit cards, consumers are able to achieve their goal of spending only within their means. How are they able to achieve such goal?

Well, prepaid programs require cardholders to load money onto their respective plastic cards, before they can be allowed to charge their purchases and payments on their prepaid debit cards or credit cards.

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Tips in Choosing the Right Prepaid Cards

A lot of consumers admit that they have the tendency to purchase and take things on impulse. They do not think twice about immediately buying the merchandises that appeal to them. However, after some time, they regret their instant decisions of getting and buying the products and services offered to them.

Such situation may also apply when you shop and get prepaid debit cards or prepaid credit cards. It is not wise to take the very first prepaid card program offered to you. Instead, it is recommended that you take your time in shopping and comparing different prepaid programs that are provided and issued by banks and card companies. You need to display a great deal of diligence and patience when you go out and select the prepaid card that will work to your advantage. This way, you can succeed in choosing the right prepaid debit cards or prepaid credit cards that will suit your needs and of course your finances. And you won't have regrets after you have settled for a particular prepaid debit card or credit card.

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FAQs for People In Need of A Secured Credit Card

Are you thinking about getting a secured credit card? If yes, here are top ten questions and answers that you need to consider.

1. What is a secured credit card?

It is a type of credit card that requires the submission of cash deposit. The deposit made will often determine your credit limit although some Issuers offer a slightly higher or lower limit than the amount of cash deposited.

2. How do I apply for a secured credit card?

Most banks and credit card issuers have their own version of a secured credit card. You can personally apply from your local bank or send an application online. Credit unions may also offer secured credit cards for those with bad credit history. As a member of the union, you may be able to get a lower interest rate and lower fees.

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FAQs for People In Need of A Secured Credit Card

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In Search for the Best Prepaid Credit Card

Trying to find the best prepaid credit card in the market can be a big challenge. If you do not know exactly what you’re looking for, you may find it difficult to do comparison. If you’re not familiar with prepaid credit cards, read on to find out how you can make the right choice.
Important Factors that Must Influence Your Decision

What factors must influence your decision in getting a prepaid debit card? First, you want to go with a prepaid card that is supported by a major processing company like Visa and MasterCard. These two credit card processing companies are the two leading names in the market.

Prepaid cards with Visa or MasterCard logos are widely accepted anywhere in the world. Cards that bear the Visa or MasterCard logo can be used wherever credit cards are accepted. It can also be used for buying products and making reservations online.

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Advantages of Prepaid Credit Cards

Debit cards are the perfect solution for people who been denied credit card. The list below are the benefits can get from a prepaid credit card.

Simplified Application Process
Anybody, even those who have a poor credit score, can apply for a prepaid card. There are no employment verifications, no checking of your credit history, nor background check done. The process is much easier than applying for a credit card since approval is not based upon your credit score. The debit card company will immediately grant approval as long as you can submit the required deposit in your account.

Bonus
There are some prepaid card companies that offer incentives or perks for those who can successfully refer a friend to apply from the same prepaid card company.


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Can You Really Stay Away from Bad Credit with Prepaid Credit Cards?

As the name suggests, prepaid credit cards are paid in advance. Instead of purchasing in advance and paying at a later time, a prepaid cardholder is expected to pay first before charging purchases to his/her card.

Today, prepaid credit or debit cards are increasing in popularity. More and more people prefer to get a debit card than a regular credit card to keep away from bad debt. But can you really stay away from bad credit with prepaid debit cards?

Who Needs A Prepaid Card?

Prepaid cards are wonderful tools for teenagers or students who need a cashless mode of payment. Parents can also send monthly allowances for their teens using a prepaid account. These special cards are great for people who cannot qualify for standard credit cards because of a bad credit history. More importantly, prepaid cards can be used to rebuild damaged credit.


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