Posted on December - 08 - 2011
MUMBAI: The government is considering a proposal to slash charges imposed by banks on credit card payment defaults to make it more affordable and to encourage payment by mobile phones as an alternate channel to replace debit and credit cards as part of a broad reform of the electronic payment system in the country.
Banks now charge an interest rate as high as 36% annually if a credit card customer fails to pay his dues before the billing cycle. There is no charge if the dues are paid on time. But, there have been instances of some customers being charged an interest rate of over 50% for defaulting on credit card payments.
Now, as part of a plan to reform the payment system in India, the finance ministry has formed a committee headed by DK Mittal, secretary, financial services, to work out a blueprint.
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Posted on December - 01 - 2011
Two groups of computer hackers say they are joining forces to steal credit card numbers from major banks and use the cards to charge donations to charities, protest groups and “those who have been cheated by our system.”
A screenshot from the hackers’ video, in which the groups, united under the name “POisaNoN,” claim to be stealing from rich bankers via credit card data breaches.
The groups, Anonymous and TeaMp0isoN (Team Poison), are apparently each made up of a loose confederation of hackers who have claimed responsibility in recent months for cyberattacks on financial and political targets including the United Nations, PayPal and MasterCard. Read more…
Posted on November - 22 - 2011
If you have taken out a credit card and have used some of the little perks that the credit card companies gave you to entice you to join up with their card, is set for change. Instead of having your purchases protected with insurance and some offered cover for your car in case of a breakdown, will now be changed to offering you smaller perks that you can use from day to day. These will include such things as discounts on CD’s and holidays, which may seem a lot more useful to many.
Credit Cards
Many banks and credit card issuers have started to take the old perks away, but with the introduction of the new ones has been seen as a less than useful compared to the purchase protection insurance, travel insurance and breakdown cover that were worth more, even if they were not used as much. S
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Posted on November - 19 - 2011
This review will discuss the Amegy Bank of Texas Visa Business Credit Card and the benefits associated with it. Not only is this a business credit card, it is also a rewards credit card, which helps you earn rewards or cash back every time you make a business purchase with the credit card.
Use the credit card chaser tool to compare credit cards and rates right now.
When you use the Amegy Bank of Texas Business Credit Card for your business purchases, you will earn points that can be used for a variety of rewards. After you earn 1,500 points, you are eligible for rewards.
The rewards you can choose from include brand name merchandise; travel options such as vacation packages, hotels, flights, and cruises; activities like tours, scuba diving, white water rafting, and spas; tickets to professional sporting and entertainment events; and gift cards.
These rewards come with no hidden fees.
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