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Category: Credit

Pay Gap Credit Card

Pay Gap Credit Card

  1. Online Account Option: To use this method, you need to have a Gap member’s account. However, if you don’t have one, you can register at the Gap website. If you are set with a password and your username, you will have to visit the Gap website and click on ‘Gap Card Credit Card.’ Then at the top-right side of the home page screen, click on the ‘Have a Card?’ and log in to your account. After logging-in, click on the icon ‘pay bill online’. Provide the required information which includes your savings account number, checking and/or your bank’s routing number. Finally, type-in the amount to be expended and ‘submit. ‘It is as easy as that. By far, online account payment option is the most preferred option for many shoppers given that you enjoy the convenience of making payments at the comfort of your home. It has really boosted the use and more importantly the efficiency of Gap credit card.
  2. Bank Bill Pay Option: This is the other most convenient payment method at the disposal of every conscious shopper who uses a Gap credit card. All you need to do is to login into online bank account and click on “Bill Pay” icon. Add a payee by entering your payment details such as the card type, account number and the Gap address. Then go back to the Bill Pay page and select the payee as Gap. Insert the amount to pay. Finally, select the “Submit button to complete the payment. If you want to have a regular monthly transfer or payment to the Gap account, you can opt to click the “Recurring Payment” option. Recurring payment option will help you to make timely payments of your bills every month.
  3. Phone Option: To use this option, you need to call 1 (800) 427-7895 and choose the ‘make a payment’ option on the computerized system. You will have to provide all the necessary information such as the checking/savings account number and account number. A confirmation number will be provided to you, which you need to note down for further verification.
  4. Mail Option: You can also mail the check or money-order to Gap for the purpose of paying your accrued credit card bill amount. The check amount should accommodate the total amount you owe and any other fees like clearance fees or charges. In addition, remember to indicate your account number of Gap credit card on the backside of the check.
Points Cards

Points Cards

Finding these Cards

Picking the best points-bearing credit card often is a difficult decision to make, especially when every issuer offers what seems to be a great deal. However, consumers often can narrow down their choice by closely looking at other features of the card and then deciding if the benefits add anything to their spending habits or lifestyle. For example, cards accumulating points for travel are ridiculous to use if you don’t travel a lot.

Searching around for such cards can be tedious when faced with an assortment of rewards, fees, annual percentage rates, and introductory rates; but the trends seem to show that the vast number of Americans do focus on reward points, usually frequent-flier miles, when choosing their credit cards.

Reading Fine Print

Even when point or reward bearing cards tend to be popular among customers, they often charge fees that are higher and need a higher credit rating than other conventional lines of credits. As more and more Americans are trying to trim down debt and raise their credit, lenders may see a shift in the type of credit cards that customers are looking for.

Things to Consider

For instance, most reward or point cards will offer hotel points/travel, deals with cash back or generic points – according to Fox Business news. Customers might begin weighing the pros against the cons by deciding what types of points are most important to them. Do they travel frequently? Are the airline miles limited to a certain flyer? How are reward points redeemed and are there any restrictions? These are several questions that consumers need to ask themselves prior to making a decision.

Higher Fees and Rates

Points cards also have a tendency to carry higher rates and fees than other types of credit cards. Consumers might profit from looking at their financial situation and deciding whether they are able to actually afford variable interest rates or membership fees. Customers need to read any terms on their credit cards thoroughly to make sure there are no fees hidden or conditions that go together with the product.

Balance Transfer Cards

Balance Transfer Cards

Transferring Card Balances

A transfer card transfers a credit card balance, or balance on a loan from one APR rate to a credit card that normally has an introduction rate of maybe 0% for a limited amount of time, such as 6 months to 12 months, or the offer may also consist of a fixed interest rate on the transfer amount that is much lower than what you are currently paying.

Some transfer rates are only effective for one transfer from one bill or one credit card, while most card companies will let you transfer as many card or loan balances as you want in order to secure your business.

Fine Print

This promotional rate on balances transferred usually lasts 6, 9 or twelve months and there could be some tricky language if you have a balance on this card already where you are transferring more debt. The best advice is to read the terms carefully before doing anything. By not reading the terms carefully as well as the tiny print, you can often end up with high fees and/or a higher rate of interest than you were expecting.

Initial Balances Only

Some offers on a transfer card might waive fees only for “initial balance transfers”, meaning the transfers that were authorized when you accepted the card and finalized the balance transfer statement. In these cases, every balance transfer after that is handled as a cash advance that will be subjected to cash advance fees that are normally much higher.

Do You Qualify

Another place to be careful is that everyone might not meet the requirements for the super-low rate. The balance transfer card might boast a 3.8 percent rate for a teaser that then bumps to 16 percent at 6 months, you might only meet the requirements for a card with a 7.8 percent teaser bumping up to an annual rate of 22 percent.

Other Fees

Be certain to check if the new card has an annual fee and what the late fees and over-the limit fees are. They could be unreasonably high on the balance transfer card in order to make up for the super low teaser rate.

When to Monitor Credit

When to Monitor Credit

Monitoring your credit is especially important if you are trying to build or repair your credit, like those just establishing credit, as a young adult, or perhaps a new resident of the U.S., and looking to build a credit history or are just working to clean up your credit.

Planning to make a Big Purchase: If you’re planning to buy a home in the next year or so, you need to know your financial standing before you start the process. This will give you time to identity and repair any mistakes if necessary.

After a Break Up: If you’ve recently split from your spouse, partner or a long-time roommate or significant other that you’ve shared accounts with, you need to pay off these joint accounts and close them immediately. If you don’t, you could get stuck with debt that they pick up even after you’ve parted ways. Until the account is paid off and the account is closed, you are both still responsible for any debt on the account. Even if you didn’t share accounts, but this person knows your personal information, you need to be vigilant with credit report monitoring and keep a close eye out for accounts that he or she could open under your name. If that does happen, you’ll need to report the theft and place a fraud alert on your credit report.

Concerned about ID theft: If you’ve lost or stolen your wallet, have been receiving collection calls on accounts you weren’t aware of, or have been denied credit, you may have fallen victim to ID theft and should check your credit report immediately. Get your credit reports online and review it carefully for any errors, accounts you didn’t open, inquiries you didn’t have made or debts you weren’t aware of.

Reducing Credit Card Balance

Reducing Credit Card Balance

One thing you can do is to reduce your credit limit. This can usually done simply by contacting the bank or financial institution which you are associated with an asking them to reduce your limit. You don’t always have to accept the suggested credit limit increases. The bank makes its profits from the times when you incur interest on your credit card, so naturally they will always want you to increase your credit limit and you may even feel pressured by the bank’s sales people to do so but ultimately its your choice and you should just set the credit limit level that you are comfortable with.

Sometimes you can also think about replacing your credit card with a charge card. A good example is the American Express charge card. It requires you to pay your balance back in full in each billing period. There are therefore no credit or interest charges. Spending more than you can afford to pay when the bill comes due is possible but you’ll be much less likely to do so if you know that you have to pay the bill every month.

A point that many people overlook is that you should never buy anything on credit if it is going to decrease in value. Going out for a meal, buying clothes or shoes, furniture and electronics all go down in value when purchased using credit. The only types of purchases which are justified when using credit are investments in the future such as education, real estate or your own small business for example.

Its also good to be aware of the total costs of things. One technique that sales people use is to phrase the cost of something in terms of monthly repayments. It’s how you can be enticed into buying something that you can’t really afford. If it helps when you go to a store, take a calculator and add up the price, interest charges and maintenance costs of a purchase and then assess whether it is really cheaper.

Direct marketing is so pervasive now that some people’s mail is up to 90% junk mail. Simply ignoring all of this junk mail that fails to add any value to your life is just a waste of your time because all it is encouraging you to do is to spend money which you could spend on something which you actually want or need. There are also organizations such as the direct marketing association that you can contact in order to have your name removed from direct marketing campaigns.

Insane Credit Card Bills

Insane Credit Card Bills

  1. $10,000 a month for water
    Water is a precious resource and must be treated so. Record selling celebrity, Madonna, is said to spend $10,000 of her hard earned cash for blessed Kabbalah water every month. She won’t drink anything else, which might explain how she still looks so young and can do cartwheels while performing on stage.
  2. $47,221 lunch
    Some of us cringe at the sight of a $100 lunch receipt, which excludes that wonderful tip your partner expects you to pay, of course. However, if you were multibillionaire mogul, Roman Abramovich, you wouldn’t be bothered about a ‘measly’ hundred. In fact, you would spend close to $48,000 for lunch and, because you have money to buy an island, give a tip worth $7,000. Anyone else seriously considering a career change?
  3. $171,937 on a night out in Las Vegas
    What, you blew $500 on a night out with friends? Well, whatever. NBA star, Lebron James, will more than trounce that receipt with the incredulous $171,937 he spent in Las Vegas – on a single night out. He reportedly blew it on bottles of Patron, Cristal and Grey Goose while in the heat of revelry and paid it in full like it was just another night out. What happens in Vegas…
  4. $500,000 on Parisian clothes
    In the name of fashion and for the sake of love, rapper Kanye West spent a mind-blowing $500,000 on his girlfriend, Kim Kardashian’s, new wardrobe. This outlandish amount was reportedly spent during their trip in Paris. Whoever said you cannot put a price on love…
  5. $1.6 million on a day out in Milan
    When the rich get bored, they take a trip to some city in Europe and throw money around like they have just gotten paid. Oh well… that’s because they probably do get paid every day. Former Spice Girl-turned-designer, Victoria Beckham, spent $1.6 million in one day, buying expensive designer goods like Louis Vuitton luggage, Versace sunglasses and a watch worth $632,000 for her hubby, David Beckham.
Credit Card Terminals

Credit Card Terminals

The information can be captured by swiping or manually entering the card information, that is then automatically sent to the merchant service provider for verification and authorization. What has also changed over the last few decades, is the manner in which the information is transferred.

In earlier periods, information was sent over telephone lines, using the dial-up procedures, although this process, may still be in use, it has largely been replaced by transfer over IP networks. The IP Terminal functions in the same manner of the dial-up procedure except that it the transfer is done over the Internet instead of the phone lines. The process is much faster, and may also cost less.

Current terminals are now able to process much more than credit and debit card information. Some models can be programmed to process checks and gift cards. There are also terminal available with limited storage memory, where the information can be held temporarily, for later transmission, in case the transmission cannot be processed immediately.

A popular type of terminal is the wireless terminal which transmits the information over wireless CDMA, or General Packer Radio Service networks. These solutions are ideal for the use with mobile devices, and offer the ability to accept payments anywhere. A wireless terminal can give merchants an advantage by offering extended customer service, while it can also assist in the exploration of new sales opportunities.

Credit card data can also be transmitted with a PC with the appropriate software, or even smartphones or tablets, that include the reading devices. The credit card numbers may also be entered manually. When buying or renting credit card terminals, it is important to consider PCI DSS compliance. The data must be handled in a secure environment, and the terminal should be able to support the transmission of encrypted information.

Another cost-effective alternative, especially for online retailers, are virtual credit card terminals. The entire payment and processing process is completed over the Internet. As the growth of ecommerce continues, small and medium sized business that are involved in ecommerce transactions, but do not have the resource to handle dedicated payments services, and handle payments with nothing more than a browser and in Internet connection. Virtual terminals provide merchants with additional versatility and flexibility, as they can be combined or with other terminals, such as POS terminals and are they are quickly becoming the default option for many online retailers.

Using Credit Cards Wisely

Using Credit Cards Wisely

Weigh Your Options Carefully

Before you are able to start using credit cards wisely, first you have to find the right one. When looking for a card of your own, you need to make sure that you compare the different options available to you. For instance, one of the first things you should look for is a low annual percentage rate (APR). This is one of the most important things in a credit card.

Another thing you should look at would be the card’s credit limit as well as the grace period made available to you. It would be advisable to keep your credit limit low so that you can keep making payments at a reasonable rate. It is also crucial that card users know if the company offers a grace period before charging you with interests.

Credit card users also need to take note if the company has other charges that you need to keep track of. Additional fees often come in the form of penalties. These would include over the limit fees as well as late payment fees.

Knowing Your Responsibilities

If you are truly serious about using credit cards wisely, then you also need to take your responsibilities seriously. This is because owning a card of your own is no joking matter. Failure to perform your responsibilities can have serious consequences for your credit rating. If you neglect your debts and are unable to make payments on time, then you just might face some unnecessary financial troubles in the future.

With that being said, you need to make sure that you read the fine print carefully. These terms are extremely important. Also, don’t be afraid to renegotiate the terms and conditions specified in the contract. For instance, it is advisable that you check if your card has an annual fee. If so, then ask the service provider to waive it. Only by meticulously checking the specific conditions can you make sure that you are able to get the best deal possible.

Be Conscious of Your Spending Habits

Perhaps the most important tip to using credit cards wisely is by closely paying attention to your spending. Making unnecessary purchases and spending more than you can afford is a major mistake. You need to make sure that you don’t go over your limit.

You can avoid such mistakes and the serious consequences that come with them by closely monitoring your expenditures. It is important to know that checking your monthly statements is not enough. You can do this by saving receipts and keeping records on your expenses. That being said, you should also consider making use of a ledger.

Credit Restoration

Credit Restoration

It is then up to the firm to remove the negative items permanently with the help of its innovative processes while following all the important laws, guidelines and regulations. The length of time it takes to process credit repair help is not guaranteed. However, the company can give the client an estimate average time. The usual time frame ranges from five to six months. And sometimes, just sometimes, some are completed from one to two months.

Credit is becoming more and more popular every day. Eventually, time will come that before you can get anything you need and want, you must have a good credit history. Recently, people have been losing the jobs they had for a very long time for the single reason that they have a bad credit history. This is especially true for those who are government employees. For them, having bad credit is enough reason for possible termination.

With good credit, it is easier for one to apply for credit or a loan and to have lower interest rates. It is easier to get a job, a home and a car. You can also have the chance to apply for loans that do not require too much documentation of your income and assets. Therefore, it is truly advantageous to get credit repair help and have a good credit rating. Not everyone has a good credit record. However, repairing bad credit is actually far more necessary than you thought. Here’s why you need credit repair help and how to get it.

First Time Credit Cardholders

First Time Credit Cardholders

  • Always settle your credit card charges in full. Did you know that submitting just the minimum amount due to your card issuer can actually cause your interest charges to balloon out? That’s why we constantly remind first-time cardholders, like you, to pay their balance in full, each month. That way, you cannot only avoid making extra payments on interest. More importantly, you can also build and eventually maintain a solid personal credit profile.We also encourage you to consider this question, before charging a bill or a purchase on your credit card: “Can I afford to pay this expense in full?” If your answer is YES then, you may proceed with your transaction. Otherwise, it might be best to pay for it in cash.
  • Spend within your credit limit. Credit cards, in general, come with spending caps or limits. In fact, it is your responsibility to know what your limit is so that you can avoid going overboard with your credit card charges. This is very important for you to avoid incurring overdraft charges as well as declined transaction fees. Furthermore, it will also help you maintain a low debt-to-limit ratio, which is a factor that influences the computation of your personal credit rating.
  • Be familiar with the provisions of the CARD Law. Card issuers cannot immediately raise interest rates without providing notices to their clients. This is one of the most important provisions of the CARD Law, which aims to offer cardholders protection against the abusive activities of credit card firms. So, as early as now, you should be familiar with your rights and limitations as prescribed by the federal laws.
  • Read the fine print of your credit card program, from time to time. After all, this will help remind you of the important terms and conditions that apply to your personal credit card. Always remember that by being familiar with such provisions, you can resolve to comply with them, all the time. And in time such habits can help you avoid incurring pesky fines and penalties that are usually charged to cardholders who committed serious violations against their credit agreements.
  • Don’t let your earned points and rewards go to waste. If your card program comes with exciting perks and incentives then, you should see to it that you won’t let them slip through your fingers. As much as possible, you should come up with a definite schedule for determining your accumulated points and their corresponding rewards. And see to it that you will redeem your perks and incentives before they expire.