Card Issuer Articles

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The Credit Card Issuer (The Bank) And Associated Costs
Banks which offer credit card services have overall remained very profitable; however the risk is very high, because the credit card business is all about giving unsecured (uncollateralized) loans. The bank is dependant on the borrower not to default in large numbers. Banks incur several costs, some of which are given below:1. Interest Expenses: Banks generally borrow the money from other forms at very low interest rates from other firms. They borrow the amount the customer requires, and lend this money to the customer at high interest rates. For example, if the card issuer charges 15% on mo...

How Do You Dispute An Error On Your Credit Card?
If you have ever ordered anything using your credit card and you haven’t received it but you were billed for it, you have some options. Once you get over your initial anger, calmly follow these steps.Write to the credit card issuer at the address for "billing inquiries," not the address for sending your payments (the address for billing inquiries is often found on the back of your most recent monthly statement); include your name, address, account number and a description of the billing error.Send your letter so that it reaches the credit card issuer within 60 days after the first bill con...

Bank of America - A long road to the countries top credit card issuer.
Bank of America is currently the largest issuer of both credit and debit cards in the United States. It is also third in the nation when measured by assets and handles about 10% of deposits made in the country.Open for business in 29 states, it's a safe assumption that Bank of America is a large force in credit and banking. More evidence supporting my very vague claim can be drawn from the bank's purchase of MBNA last year. MBNA was formerly the largest issuer of credit cards in the country.More interesting than its acquisitions and statistics is Bank of America's history. The bank's roots...

Credit Card Or Secured Credit Card? Which One Is Best For My Lifestyle
Are you pondering on whether you should apply for a credit card? Well, the answer quite simply is – ‘Yes’ - you should apply for a credit card (this is true for most people). The credit cards seem to have transformed our lives. In fact, one can term credit cards as a revolution. Today, you find ads in TV/newspapers/website/shops and almost anywhere and everywhere; all asking you to apply for a credit card. When you look around, you see that most people have credit cards. In fact, most people have multiple credit cards. Everyone seems to apply for a credit card. So, why should you apply for a c...

How To Choose and Use Credit Cards
Credit Card TermsA credit card is a form of borrowing that often involves charges. Credit terms and conditions affect your overall cost. So it's wise to compare terms and fees before you agree to open a credit or charge card account.The following are some important terms to consider that generally must be disclosed in credit card applications or in solicitations that require no application. You also may want to ask about these terms when you're shopping for a card.Annual Percentage Rate. The APR is a measure of the cost of credit, expressed as a yearly rate. It also must be disclosed bef...

Credit Card Vs. Debit Card - What Are The Main Differences?
What is a Debit Card?The card you use at the ATM is known as a debit card. When debit cards first appeared it was easy to tell them apart from credit cards. Debit cards didn’t have a credit card company logo on them; instead, they usually just had your bank name, your account number and your name.Today debit cards look exactly like credit cards even carrying the same logos. Both types of cards can be swiped at the checkout counter , used to make purchases on the internet, or to pay for the fill-up at the gas pump. When you use your debit card to make a purchase, it’s just like using cash. T...

Credit Card Transaction Disputes
A credit card dispute on transactions made, offers consumers three protections: protection against unauthorized use, billing error procedures, and the right to withhold payment. Lenders follow a set of procedures when you file a credit card dispute for a discrepancy in your bills. Keep in mind that at the end of the investigation, these protections may still result in a finding that you are liable to pay for the disputed transaction. The law(s) applicable to your particular set of circumstances will dictate the actual amount - if any – that you are liable for.Protection against Unauthorized ...

Ever Receive A Credit Card In The Mail?
Federal law prohibits issuers from sending you a card you didn't ask for. However, an issuer can send you a renewal or substitute card without your request. Issuers also may send you an application or a solicitation, or ask you by phone if you want a card - and, if you say yes, they may send you one.Cardholder ProtectionsFederal law protects your use of credit cards.Prompt Credit for Payment. An issuer must credit your account the day payment is received. The exceptions are if the payment is not made according to the creditor's requirements, or the delay in crediting your account won't r...

The Idiot’s Guide to Selecting a Credit Card
There are literally hundreds - possibly thousands - of credit card offers available to consumers these days. So how do you choose the best one? What should you look for in a credit card? How can you be sure that you won’t get stuck with high interest rates or a rewards program that doesn’t exactly live up to your expectations? In this article, we’ll take your through the major elements of a credit card so that you know what to look for and can make an informed decision about which credit card to choose.Interest RateThe first thing that most people look for is the interest rate. Also known ...

Visa Gift Card – The Smart Credit Card Alternative
A visa gift card is similar to a debit card and represents money deposited with the issuer (Visa). This card can be used for purchases up to the limit on the card at all outlets where visa card is accepted. The difference between debit card and visa gift card is that debit card is usually issued in an individual’s name where as visa gift card is issued without any name. Further there is a PIN in debit cards where as for visa gift cards there is no PIN. The amount varies from $25 to $2,500. There are two types of visa gift cards, domestic and international. Domestic can be used only wit...

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