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You can’t much pick up the paper or turn on the telly without hearing something about credit card fraud and identity theft these days. That’s why the UK credit card market started testing a new type of card back in 2003. By mid-2004, the new Chip and PIN card was declared a resounding success after a wide ranging trial in Northampton. There was already a good deal of evidence for using the Chip and PIN method to verify credit cards and users. A similar experiment in France showed that the Chip and PIN reduced credit card fraud by as much as 80%. The Northampton trial showed similar numbers. As of February 14 of this year (2006), Chip and PIN is the standard method for all credit card transactions.

What are Chip and PIN credit cards?

Instead of a magnetic stripe, Chip and PIN cards contain a miniature computer chip that stores information about your account. When you present your card to a merchant, or slide it through the card reader at the till, the cashier will ask you to enter a 4-digit PIN (personal identification number) to confirm that you are the proper owner of that credit card. That’s all there is to it.

How do I get my Chip and PIN card?

Many credit card companies have already started replacing old style credit cards with Chip and PIN cars. As of February, though, all new cards issued in the UK must be Chip and PIN cards. That means if you apply for a credit card, or if your credit card reaches expiry and is replaced with a new card, the card that you get will be one of the new Chip and PIN cards.

What if I can’t use a Chip and PIN card?

The Chip and PIN may be difficult for some people, specifically those who are blind or partially sighted. If you will have trouble entering a PIN number into the machine, you should notify your credit card company and request a Chip and Signature card. If you’ve already been issued a Chip and PIN card, you can request a replacement Chip and Signature card from the company that issued your card.

How will I know my PIN?

The company that issued your credit card will let you know your PIN. Many mail your PIN to you in a separate envelope on a different day from your card itself to ensure that only you will get BOTH the card and the PIN. You’ll be able to change your PIN at most UK cash machines if needed to be sure that you have a PIN that’s easy for you to remember.

What happens if I use the wrong PIN?

If you enter the wrong PIN three times in a row, your credit card will be locked and you won’t be able to use it to purchase things at the till. If that happens, you should contact your credit card company immediately for instructions on how to unlock your credit card.

What if I forget my PIN when I get to the till?

Simply tell the cashier that you can’t remember your PIN, and they’ll tell you what options you have to identify yourself. If you can’t use any of the options, you’ll need to use an alternative method for that transaction.

You can apply for a credit card with Chip and PIN technology through one of the many UK credit card companies listed on some excellent comparison sites where you find the very best credit card UK issuers have available.

Jon Francis has been involved in various areas with the world of finance and has a keen eye for a bargin! He has an in-depth knowledge of the credit card UK market and now helps others get the best from a credit card. For more information visit “http://www.moneyeverything.com”.

What are inquiries?

When you apply for credit the creditor or lender checks your credit report to verify that you qualify for the credit or loan you are applying for. The “inquiry” is then reported to the credit bureaus and shows up on your credit report.

Does this affect your credit rating or score?

Yes, it does. Although only a few points are deducted from your score for each inquiry, having multiple inquiries may drop your score to a lower bracket, forcing a higher interest rate. You may not even qualify for the loan or line of credit at all.

Will requesting your credit report generate an inquiry?

This is a common misconception and is totally false. You should view your report at least once a month. Doing so will not generate any inquiries.

What if you did not authorize an inquiry, can you dispute it?

Yes. If you did not authorize any of the inquiries on your credit report you can and should dispute them. To dispute inquiries obtain your credit report, then make a copy of your credit report, highlighting the inquiries in dispute. Finally, send the copy of your highlighted inquiries along with a letter demanding the inquiries be deleted from your credit report to the credit bureau.

Is it worth it?

The next time you are out shopping and the salesperson asks you, “Would you like to apply for our credit line and receive 15% off your purchase?” Ask yourself, “Is it worth it?”

Scott Brown is a fair credit reporting advocate and the author of his own website Credit Repair, a free information site dedicated to help consumers repair bad credit and optimize their credit reports and credit scores.

Entrepreneurs must separate their personal and business life. They need to in order to be seen as a typical consumer for credit purposes, so they aren’t turned down for a mortgage or car loan just because their credit score is low from business activity.

The key to understanding business credit is to know there are no laws protecting the business owner from the business credit bureaus, as there are with personal credit. For instance if you look on your personal credit report and find “anything” that is not accurate you can dispute it with the personal credit bureaus (Equifax, Experian, TransUnion). The bureaus are required to research the information for accuracy and then reply within 30 days or it has to be removed from your report.

For business credit reports there is no such law. You can have misleading or completely false information on the business credit report and no protection from the law.

I tell you this because of the value of having your business in compliance with the business credit market before you apply for credit under the business. Before you look at applying for credit under your business name you must have a business credit profile built that is separate from your personal credit and be in compliance. For example, you must have a business phone line listed with directory assistance and a business license. Without these two items most lenders won’t even consider your credit application. These are only two of hundreds of items lenders look at for your company’s compliance.

By applying for credit under your business and not having first established a business credit profile, which we refer to as “being in compliance”, obtain basic business credit without the use of your personal information and develop a business credit score, you can waste lots of time, money, and resources.

In order to obtain the credit score you must find companies that will establish credit for your business without using your personal credit information and then report the payment experiences to the business credit bureaus. By reporting the information a business credit profile will be established.

The business credit profile can be established as a Sole Proprietorship or Partnership in addition to a Corporation or LLC. However, with a Sole Proprietorship or Partnership the owner’s personal credit information may be included on their business credit report and vice-versa. In addition, as a Sole Proprietor or Partner in a Partnership you are personally liable for the debts of the business and all your personal assets are at risk in litigation.

Corporations and LLCs on the other hand afford the business owner liability protection and a separate credit profile. The owners may apply for credit under the business and obtain credit without a personal credit check or guarantee, if the credit grantor will do so. Our company, Business Credit Services, has researched the trade credit market over the last five years and found that there are thousands of companies that will do this if asked.

Our business focuses on getting companies in compliance with the trade credit market and matching companies seeking credit with those granting credit. It is extremely important for businesses to meet all requirements of the credit market in order to ensure a higher likelihood of an approval. In fact, not being in compliance with the credit market can cause red flags with credit bureaus and grantors. Most businesses will not grant credit to another business that has not taken the steps to set the company up with the proper licenses and local, state, and federal requirements.

Almost every business at one point will need some type of credit. To lower the risk of using your personal credit and guarantees and obtaining the best possible terms, start the steps necessary to build a business credit profile separate from your personal credit report. No one wants to find themselves in a position unable to obtain credit for a mortgage or car loan when you need it most.

You can discover the secrets of building a business credit profile separate from your personal credit with David Gass’ program “Success Steps to Business Credit”.

David Gass is the President and Founder of Business Credit Services Inc. His company provides coaching programs for small business owners and has developed a patent-pending process for building business credit. In addition the company offers incorporation services and business plan writing. Learn more about their services online at http://www.businesscreditbuilder.net

People who find themselves unable to control their credit card spending are in something of a predicament. Having a credit card will put them deeper in debt, but not having a credit card makes it impossible to do things like rent a car or get a hotel room. In their book “Getting Rich In America” Lee and McKenzie suggest a method for keeping a credit card for when it is necessary without facing constant temptation.

Take a small plastic container such as a butter dish, or Tupperware and fill it with water. Place your card in the water and put it in the freezer. The water will turn to ice encasing your card in several inches.

When you want to use the card you must take it out and place it in the sink to thaw for several hours depending on the size of the container. This way you have a card, but it requires preplanning to use. Since most of the problems with credit cards come from impulse spending, freezing your card in ice will make these types of purchases impossible, but you’ll still have a card to use as long as you plan ahead.

Ideally self discipline is a better path than trying to keep your cards “on ice.” However if it makes it easier for you not to spend this can be a very easy way to help train yourself to think about your credit card purchases ahead of time.

The Debt Consolidation blog offers insights into managing and reducing your debt. You can find more articles like this one at: http://debt-consolidation.strategy-blogs.com/

You might have encountered a situation where you chance upon an attractive pink dress for your girlfriend. The moment you give the credit card to complete the transaction, the card is declined. Frustrated, you call up the credit card company only to know that the decline happened because there is not much credit on your account. So, you ask for a credit line increase. The customer service division takes your request for the increase of the credit line. There can be 3 kinds of responses in this regard:

1. Your request could be approved and you are given a credit line raise right away.

2. Your are asked to give a call within 24 hours to know the status.

3. Your request is declined right away. The reasons could be anything from a negative marking on your credit report to asking for a credit line increase within a few months of getting a credit card.

Here are 4 ways in which you can get a higher credit limit request approved:

1. Have a good record with your credit card companies: This means that you should have a good record of creditworthiness not from the particular credit card company you are asking for a credit line increase, but also with the other credit card companies that you deal with.

2. Show that you are a disciplined user of the credit card: Make it a point not to have pending balances. You should refrain from paying the minimum due and strive to pay the entire balance in full. Any kind of late fees or over the limit fees on your account reduces your chance of getting your credit line approval request granted.

3. Prove to the company that you ‘are’ using the credit card: This will be done only if you do not use the credit card once in a while but more on a frequent basis. A lot of unused credit will also make credit card companies wary about giving you a higher credit limit.

4. Time frame for the request: Most credit card companies follow a procedure in which they grant a credit line increase only after a stipulated period of time. For example, if you are a new credit card user, you can ask for a credit line increase only after six months or a year according to some credit card agreements. Also if your credit line increase request has already been granted, you might have to wait for another three months or six months (as per the terms and conditions of the credit card agreement) for your request to be approved.

Daniel Cohen recommends Find Credit Cards for finding an HSBC Bank USA credit card.

Owning a business credit card even if you a small company has several benefits that you do not want to miss out on. Many people believe that business credit cards are just like any other credit card but they are completely wrong. A business credit card can and will help your business grow.

Today, several credit card companies offer their customers many unique and wonderful options for their business credit cards and there are many types of credit cards that are designed for the way in which your business operates.

If you are beginning a new business you may enjoy the benefits that come from a Business Gold card. This credit card will give you your first year free without any type of annual fee. You can even chose to have more than one credit card in case you have employees that you wish to add so they can purchase items for your business.

If you are just starting your business, business credit cards can give you the advantage of purchasing all the supplies you need to furnish your office or your company. You can even use a business credit card and receive discounts for office supply products that you use everyday from companies such as FedEx, Staples, and Kinko’s.

Using business credit cards will ensure that your new company starts off on the right foot with the purchasing power you need to beat the competition.

It takes money to begin a new business mainly because of start-up costs many businesses do not see a profit their first year. But, if you are using a business credit card with a no annual fee you will be able to compete and do very well against other companies in your industry that are building their companies without the benefit of a business credit card.

You can find several wonderful credit card companies online that offer business credit cards that are sure to cater to the needs of your business and give you the peace of mind you need to begin a prosperous business.

Copyright Attila Z Jancsina Business Credit Card Applications

I just received a notice today telling me my credit card company is charging me in the upper 20% for the “use” of my card. This is an increase from a 0% interest rate given if I paid my card off in 6 months. Stupid me. I did not pay it off in time. Now the devils are at the door. Luckily, I do not owe much on the card and only have this one card.

It made me think of the countless people having trouble with credit cards and their high interest rates. It can truly wreck someone. It can wreck a marriage, friendships, nerves, bank accounts, etc. And the companies could care less. Once they suck you in-like drugs-they are there to hammer you.
Granted, each person has to show responsibility over his or her life. But the credit card companies never help in such a pursuit. Charging people 17%-28% interest on a card is just plain low-down and another problem of a “see-no-evil” capitalist system. A caring government would simply set a limit on how high a company can charge.

That not being the case, a person must really be diligent when it comes to credit cards. A great deal of false information is put out so people can stay in debt forever and make the very few insanely wealthy at the expense of the many. Author and radio-host Dave Ramsey is one guy to follow when it comes to this particular area of life. Ramsey is interesting because he was a millionaire before he hit the age of 30 and lost it all. He then re-built his worth to millionaire status but went through hell for a while. His ideology? Dump your credit cards for good. Everyone of them. Use your debit card instead which is real money and not borrowed at interest. Everything from airlines to car-rentals accept it. Put money back into your own pocket and not into some cretin who could care less if you are destroyed by debt.

It can be tough at times but you really do feel much better when you take your own money out instead of the “fool’s gold” offered by credit cards. It allows you to practice a great deal of discipline and not into reckless spending sprees where the payback seems to be never-ending. And don’t you hate those phone-calls from the zombis that represent these companies? Yuck.

Also, it is good practice to “bust the chops” of these companies. Urge your credit card company to lower your interest rate. Call, write or meet with a congressman, senator or local representative to make sure the company is not price-gouging(they always are but what is the limit?) Contact consumer advocate groups, etc.

As is always, when there is “never enough” money to be made, bad things always follow. Credit card companies are among the worst offenders of the never enough philosophy. Try to stay clear as much as possible. Now I have to go pay this one last darn card off.

Robert Carberry is a freelance writer from New York

In “Become the Squeaky Wheel” a book recently published, Michelle Dunn demonstrates the major areas a business should focus on to ensure a satisfactory customer experience.

One mistake business owners make is not having a credit policy in place when they open their business. This can be easily corrected by implementing one at any time. “At the very least, every business should have every customer fill out a credit application,” says Dunn.

“In the businesses view, it seems easier to just process the order without obtaining any or limited information on the customer. Most new business are so excited to make the sale they don’t want to offend the customer by asking them to fill out a credit application,” explains Michelle Dunn.

Another mistake business owners make is not to ask for the money once it is due. They were so happy to make the sale, and now don’t want to make the customer mad by asking for the money, even if it is past due.

Show potential customers that you are proud of what you do and that you are serious, and have a sound credit policy in place. The customer that is offended or doesn’t want to fill out the credit application is probably not someone you want as a customer anyway.

Michelle Dunn has over 17 years experience in credit and debt collection. She is the founder of Never Dunn Publishing, LLC, is a writer, consultant and the Editorial Advisor for Eli Financial Debt Collection Compliance Alert Newsletter. Michelle started M.A.D. Collection Agency and ran is successfully for 7 years. She also owns and runs Credit & Collections.com an online community for credit and business professionals.

She has written 5 books in her Collecting Money Series She is currently writing a book for the Streetwise Series, part of the Adams Media Corporation. In addition to writing and marketing her books, Michelle moderates and runs Credit & Collections.com and was a member of The American Collectors Association for 9 years.

A cash back credit card is a fantastic way for you to make some cash, while all the time spending! Although it does only suit the customers who pay their bill in full at the end of each month.

A cash back credit card will give you the chance to earn as you spend. A percentage is returned to you on an annual basis for every pound that you have spent. This is usually set at between 0.5% and 2% depending on how generous the credit card lender is. And as I have said already and I cannot stress enough is you should be able to pay off your credit card statement in full each month as is the only way that a cash back credit card will work for you.

A cash back credit card is not for everyone…

If you are a borrower then a cash back credit card will only cost you, even though you will be earning a little back, you will find that this will be eaten up and more by the interest charges, which are usually on a higher scale of APR.

By not incurring the interest payments, then every pound that you spend on the card will see a little winging it’s way back to you and if you do pay your credit card bill off in full and never have worries about doing so, then why not switch to a cash back credit card. If you don’t already have one, there are only a few ways in which you can get money from a credit card lender, rather than the many ways in which they abstract cash from us.

Do not transfer any balances…

There is a word of warning that will come with this though, if you decide that you want to balance transfer an amount from your existing credit card company on to a cash back credit card, then you should try and avoid this, in fact avoid it altogether. As any payments you make to the credit card will only go on to pay the amount transferred and interest will mount up on any purchases that you have made on the credit card, which will leave you paying back more than the cash back card is making you.

There are a few good deals on the go right now, with the Amex Blue cash back card the Amex Platinum and the First Trust Bank cards worthy at a look if you decide that a cash back credit card is for you.

Remember…

1) Pay off your balance every month
2) Cash backs are repaid annually
3) Avoid transferring a balance to your cash back card

So if you have a clear statement at the end of each month then go for it and make that bargain in the sales save you even more cash.

Peter Kenny is a writer for creditcards-gb.co.uk. For additional articles and an extensive resource for everything about credit cards, please visit us at www.creditcards-gb.co.uk and www.creditcards2go4.com For credit card advice please visit here www.creditcards-gb.co.uk/creditcardadvice.html

When it comes down to it, the majority of people are always assuming, and most of them assume the worst. Creditors or anyone today all base their theories on suppositions, and suppositions have forever caused failure. When people fail to pay their bills on time, many of the creditors suppose that the debtor doesn’t have the ability to pay the debt. Many creditors with the supposition that you are not capable of paying your bills will sometimes make arrangements or lower the amount so that you can repay the debt.

This is one possible step to credit repair, however in this case you must contact your creditor to let them know your situation. If you have several bills on hand and all the bills are pressing, it makes sense to payoff the debt that benefits you the most. After this bill is paid you can set aside an amount the following paycheck to payoff another of the bills. If you follow this strategy it allows you to work your bills down gradually therefor repairing your credit.

If you don’t have the money to repay the bill in full, atleast pay the minimum so that you can continue using the service. Most debtors suppose they are in debt and there is nothing they can do to resolve the problems that ravage their lives day in and day out. Creditors are always on their back, and their paychecks are never enough to make ends meet. This is a process of giving up on life. When we give up it usually leads to stress. The answer is often right in front of them or comes to them sometime in the future. Sometimes we see Credit Counseling or Debt Consolidation advertisments and think, “how can they help me.” The fact is Debt Consolidation is only a lead to get creditors off your back for a while. Credit Counselors are more likely to help you find a solution to repairing your credit.

Credit Counselors can be the solution when you can’t find a way out on your own. These professionals work with your creditors, and work toward a solution. This is absolutely a way to get creditors off your back, work out an arrangement with your debtors, and reduce the stress that comes with financial burdens. Some credit counseling services offer a low fee for their services and provide you with a financial managing solution. These services often offer help with managing your cash, as well as offering counseling to homeowners, students, and so forth. There are many solutions for debt relief so the key then is not assuming the worst. Again the important solution is paying off the debts that are the highest prioritie. If you have secured loans it is always smart to find a way to pay these bills before any others. Unsecured loans can pose a threat, but nothing compared to secured loans or debts. Some of the nonessential bills can include credit cards. Although you are responsible for this bill, the worst that happens with credit cards is that you loose your privileges.

J. Brian Keith is a
Credit Repair author and contributor at DebtRelief-DebtReduction.com, where innovative
ideas and information about
Debt Relief is openly shared. See
Debt Reduction related articles.