Archive for the ‘Banking’ Category

When to Pay Credit Card Bills

How To Optimise Your Credit Card Expenses? Although most credit card accounts carry the same annual interest rates, they do not all calculate monthly interest charges the same way. Consequently, consumers may find themselves paying differing amounts in interest on the same purchases. For example, if the interest is calculated on the basis of the […]

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Fair Credit Reporting

The Fair Credit Reporting Act When you apply for credit, the lender may ask a credit reporting agency for a summary of your financial history before deciding whether to grant the loan. This is standard procedure, particularly when substantial sums are involved, and every day, thousands of such credit reports are issued to lenders throughout […]

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How Good Is Your Credit Rating?

The Three C?s Of?Your Credit Rating In the days before computers and credit cards, loan officers usually sized up applicants on the Three C’s of Credit: Character (a moral commitment to pay the money back), Capacity (the means to do so) and Collateral (property that could be seized and resold in the event repayment was […]

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How To Calculate Your Credit Rating?

Credit Rating Test The “test” given here can indicate only your relative credit-worthiness. It cannot tell you whether you will actually get credit from particular lenders, whose policies may vary widely according to their experiences, profit targets and tolerance of risk under different economic conditions at different times. One lender, for example, might sign you […]

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Debit Cards

What Is A Debit Card? Debit cards are less common than credit cards, but?an increasing number of banks and savings institutions offer them now. You can use debit cards like credit cards in making purchases. However, unlike credit cards, which bill you later for the amount you have been charged, debit cards transfer your money […]

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Credit Cards

What Is A Bank Credit Card? Credit cards, whether issued by banks or other institutions, are another form of revolving credit. These cards entitle their holders to a predetermined maximum against which they may borrow, and the principal repaid is automatically restored to the credit line. You can use a credit card to pay for […]

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EFT Errors Settlement

Electronic Fund Transfer Errors Settlement If you suspect that an error has been made in an electronic transfer of funds, call your bank immediately. The law requires that you make the call within 60 days, but the sooner you give notice the easier it will be to correct any error. Unless the bank asks you […]

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Your Rights as an EFT Customer

EFT Customer?s Rights Like anything else, electronic fund transfers are subject to error. A malfunction in a computer or a mistake by a programmer could, for example, transfer $1,000 from your account to the account of your utility company when in fact your bill was $100. If you lose your automatic teller card and it […]

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Electronic Fund Transfers

Electronic Fund Transfers (EFT) By now, most depositors have some familiarity with the machines in bank lobbies that enable customers to make withdrawals from, or deposits to, savings and checking accounts without the aid of a human teller. But such machines are only one aspect of electronic fund transfers. An increasing number of other transactions […]

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Super-NOW Bank Accounts

Super Negotiable Order of Withdrawal Accounts Scarcely had the federal government authorized banks to offer money market savings accounts than it also granted them permission to introduce checking accounts that pay money market interest rates — accounts known as “Super-NOW’s.” Depending on the policy of the individual bank, Super-NOW accounts may offer all of the features […]

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