The celebrated case of a couple who had filed bankruptcy twice before they again got up to their neck in debt suggests an interesting idea. Bankruptcy is not the end of financial career; on the contrary, it gives the green to credit companies who seek to make revenues at the bankrupt’s need for financing.
At this point you’re expected to come into play and set up your own rules to control and benefit from the credit usage. Be sure, a card company has enough of available credit to finance you during the post-bankruptcy period, and it will. But as each creditor is after its own profit in the first place, be ready to face a number of traps all the same.  … (more) August 29, 2008

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Remember that nasty feeling of embarrassment and irritation when you discover that you have left your wallet or purse at home, standing at a cash register with a full cart? Pretty soon this feeling might become a survival of times past. Your fingers will become a payment tool.
Indivos Corp. that develops computer hardware, software, computer programs and services, has been developing an electronic payment system that allows making money transactions through scanning a customer’s fingerprints, for the last 6 years. The system is already being tested by a select group of retailers.
Biometric systems that involve fingerprint identification, facial recognition and retina scans technologies are actively being implemented in the business and retail industry. The credit card market, of course, does … (more) August 22, 2008

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Interest rate is one of the first-to-take-into-consideration credit card features when it comes to choosing a credit card. The two basic types of interest rate you can have on your plastic are fixed rate and variable rate.
A variable rate means that your interest can vary due to the Federal Reserve’s moves, changes on the credit card market or whenever your lender finds it appropriate. Here is how variable rate is calculated. The Fed sets the prime rate, which becomes a basic component of your interest that cannot be changed by a creditor. Then a credit card issuer adds a certain percentage to it, having checked or credit score and credit history. As a result you get, say, the prime rate … (more) August 13, 2008

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