Usa Credit Cards

Do you know anything about this topic? Share your expertise with our thousands of visitors each day by submitting your quality, informative 'Usa Credit Cards' article, and if you become a member we will pay you for your unique and original work (note that all submissions are reviewed by our editors).Recent articles submitted to your independent guide to Usa Credit Cards

1. Beware Credit Card Offers

- By: Michael RussellCredit card offers come in the mail all the time. They seem to turn up in the mailbox even more often than the bills you have to pay! If you’re like most people, you’re slightly annoyed by them, but all you do is shred the offers and you never think about them again. But there’s a reason that credit...


2. Why You Should Shred Credit Card Applications !!!!!

- By: Michael RussellIt is common for people to have one or two credit cards. They are convenient to use and can help establish good credit if the cardholder is responsible with their debt amounts and monthly payments. Because credit cards have become so ubiquitous in our world, many of us forget that they need to be pr...


Bad Credit Credit Card -

How To Increase Your Credit Score With Credit CardsCredit cards are often the first step for a consumer to buildtheir credit score. When you make regular payments with a smallcredit limit, lenders will be more willing to lend you largeramounts. Before you jump out and open an account, make sure youdon't have too many credit lines open or otherwise hurt yourcredit.Pick A Good CardCredit card companies offer several different types of creditcards for consumers. You can find student programs that requireno co-signer or income. This is a great offe... Read full story

3. A Credit Card Can By Very Useful !!!!1

- By: Michael RussellMany people shudder at the thought of getting a credit card. To some, a credit card means debt and financial instability. But a credit card can actually be a very useful thing to have. A credit card is a plastic card with a magnetic strip that can be swiped and used as payment for a...

4. Credit Cards For People With Bad Credit

- By: Michael RussellDo you have less than stellar credit? If so, you probably know just how difficult it is to get a credit card. If you've looked, no doubt you have found plenty of companies out there that will offer to help you rebuild your credit rating by issuing a credit card. For some people, it is worth it to...
Posters & Prints
Click on an image to enlarge it. Hand Holding Credit Card
Hand Holding Credit Card
Hand Holding Credit Card
Blurred Hand with Credit Card
Hand Holding Credit Card
Blurred Hand with Credit Card

More Posters & Prints...

5. More Money Generated With The Credit Card

- By: Michael RussellNearly everyone knows that little piece of plastic is really a money mint for the credit card companies but do you or those companies themselves really know how much money they do actually generate? Why we ask the question of the companies themselves is because these companies have lit...


6. Credit Card: Tips On Avoiding Late Fees -

By: Michael RussellMany people ruin their credit card score by not paying their credit card bills on time, or by missing payments. Late fees can be very expensive. Before you know it, the fee has piled up and the interest rate can grow and, after a while, you will not even be able to pay the minimum payment. This c...

7. How To Benefit From Using Credit Cards

- By: Michael RussellIt is simple really, as far as taking care of plastic cards is concerned, yet so many of us abuse the flexibility of the credit card. Usually, this is due to paying off debts or extraneous spendthrift activity. If this applies to anyone then it should be a firm decision to simply stop using the car...

8. Credit Card For High Schoolers?

- By: Michael RussellCollege students are some of the worst offenders when it comes to racking up mountains of unpayable debt; a problem that stay with them long after college has finished – the irresponsible use of credit in college can continue causing damage until much later in life. By teaching your kids how to mana...

9. Top Tips For Increasing Your Credit Card Limit -

By: Michael RussellHaving a credit card gives you flexibility and purchasing power that you have grown used to. But what about when it comes to making those big purchases, or consolidating your debts? There are times when everyone wants to charge more on their card, but banks are not always quick to offer a credit car...

10. Knowing Your Predatory Credit Card Companies -

By: Michael RussellFor a number of credit card consumers, lending options are widely available. However for individuals with bad credit, the options are few and far between. With this in mind, lenders may take advantage of individuals who have problems repaying debt. These organizations typically target people with ...

11. Credit Cards - Lowering Your Interest Rates -

By: Michael RussellIs your credit card interest too high? Do you carry large balances on your credit cards? Do you want to apply for a new credit card? Many people struggle with these issues everyday. However, there may be a light at the end of the tunnel. Interest rates can be lowered, or eliminated, and a highe...

12. A Retailer's Guide To Credit Card Fraud Prevention

- By: Michael RussellIdentity theft is one of the hottest topics around. But who are the real victims here? Of course consumers are affected the most. While consumers are usually not liable for fraudulent charges, it can take years to come back from identity theft, and it's no small task. Consumer victims may get hi...

13. Know The Credit Card Company's Secrets!

- By: Michael RussellNowadays, almost everyone can get a credit card. Most people get offerings in the mail to apply for them all of the time! Many of these credit cards have very low introductory rates, but then shoot up later, often without you even realizing it! After all, who is going to read all of the fine prin...

14.Premium Credit Cards: Are They Worth Having?

- By: Michael RussellThe minimum income requirement for gold credit cards is usually set at between $35,000 and $48,000 per annum. However, if you have a good credit track record with your bank, it might offer you an upgrade from your classic card without such proof of income. On the downside, its annual fee..

USA Credit Card

It is a fashion to collect cards of all types and store them in one's wallet (purse). The cards here refer to the plastic type e.g. credit cards. So there are cards such as: Credit card Debit card Bank ATM card Shopping Store cards (e.g. Sears card; "SEARS" is the name of a chain of stores in the U.S.) Health insurance card Telephone calling card Public library membership card Most purses have transparent packets to keep these cards in order. Credit/Debit Cards:A credit card allows you to pay for your expenses without bothering about availability of money at the time of payment. The credit card company pays for you and later sends you a statement every month elaborating the payments made. You can then, pay the credit card company by check. There are certain limits imposed on Credit cards with regard to the amount of credit available to you, which vary. VISA and MASTER CARD are the most widely accepted credit cards. The others being American Express card (called Am-Ex for short) and Discover Card.
A Debit card is almost like a check, since it allows you to spend from your available resources only (no credit business). This is generally issued by the banks where you have an account, after you apply for it.
It is not so easy to get a credit card for the first timer in U.S. The application is scrutinized by the Credit Organization/Bank and the credit history checked up (They call up the banks where you have an account, to find out your balance and credit status etc). Actually it seems the credit history is traced from your Social Security No. Usually the period of stay is also an important criteria e.g. at 6 month stay is essential to be considered eligible for a Credit card.
To build up a good credit history, many people take loans from the bank. e.g. to buy a car and repay it in time. You also may get the departmental store or gas station credit card (Macy's, Sears, Mobil, Exxon etc.). They are easier to get. This increases the chances of getting a Credit Card sooner.
The easiest to get is the American Express Card. They ask for a letter from the employer regarding salary status etc. once the initial application is verified.
The Gold Card is the next thing to aim for, once you have at least a card. The Credit limit is higher on the Gold Card apart from other benefits.
The most difficult to get is the DISCOVER credit card.
Most Credit cards offer other benefits too, such as mileage accumulation for some airline enabling you to travel free on that airline anywhere in the U.S. once about 20,000 miles have been accumulated, at the rate of 1 mile per dollar. Some others offer Rental Car Insurance coverage and so on. Most organizations (health clubs etc.) issue membership cards with neat plastic lamination too

Welcome to US Credit Card Equipment

U.S. Credit Card Equipment offers the lowest prices on credit card processing equipment and services.
Combine that with our outstanding professional support, competitive no application fee merchant accounts, a complete line of Credit card processing software for PC and Mac, Secure internet payment gateways and Shopping cart solutions for your Web site and you will see why U.S. Credit Card Equipment is the leading provider of mechant service solutions.
Contact us today and learn what we can do your company.
* See the USA Credit privacy policy, terms, and conditions for each offer on the website of each special offer online application. We make reasonable efforts to keep the information available above accurate. You should however, be aware that all special offer information on our site is given without warranty of any kind. You can review the privacy policy, terms, and conditions for each special offer on the offer issuer's web site after you click our "Apply Now!" button.

How Credit Bureaus Get Information

A credit bureau is a clearinghouse for credit information about consumers. There are more than 1,000 local and regional credit bureaus around the country that gather information about your credit habits directly from your creditors. Typically, these smaller local and regional bureaus are affiliated with one of three large national credit bureaus -- Equifax, Experian and TransUnion (see below). For example, let's say you apply for a credit card and provide the card company with all of your personal information, such as your name and address, your previous address (if you haven't lived at your current residence for more than two years), your employer, other credit cards you have, etc. The credit card company then contacts a credit reporting agency (CRA) and reviews your credit report. If the company approves your application for a credit card, then the information you've supplied is forwarded to the CRA. That credit card company also reports your payment history to the CRA, so that becomes part of the report. The CRAs also access information about you from public record information such as court records.
All of the transactions you have that involve credit are reported monthly to CRAs by the merchants or creditors you deal with. Most large creditors report this information to all three national credit bureaus (CRAs). Some smaller lenders or merchants, however, may only report the information to one. For this reason, your report from each CRA may not be the same. You might get a copy of your report from Experian that does not include an account that shows up on your report that is maintained by TransUnion. For this reason, it is wise to review copies of all three reports.
You can find the contact information for all three national credit bureaus in the United States.
Equifax – www.equifax.comTo order your report, call: 800-685-1111 or write: P.O. Box 740241, Atlanta, GA 30374-0241
To report fraud, call: 800-525-6285/ TDD: 800-255-0056 and write: P.O. Box 740241, Atlanta, GA 30374-0241
Experian – www.experian.comTo order your report, call: 888-EXPERIAN (397-3742) or write: P.O. Box 2104, Allen, TX 75013
To report fraud, call: 888-EXPERIAN (397-3742)/ TDD: 800-972-0322 and write: P.O. Box 9532, Allen, TX 75013
TransUnion – www.transunion.comTo order your report, call: 800-916-8800 or write: P.O. Box 1000, Chester, PA 19022
To report fraud, call: 800-680-7289/ TDD: 877-553-7803 and write: Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92634-6790
While the report itself only relays the history of your dealings with creditors, potential creditors can learn a lot from this. Read on to find out how professionals interpret your credit report.

Credit Ratings and Card Types

If you've had credit problems, you might have to settle for a card with a slightly higher rate. If you have poor credit or no credit, some banks will issue you a secured credit card. This means that you deposit money into a savings account that acts as collateral against your credit line.The rate may be high, but a secured card offers you the convenience of a credit card while you work on rebuilding your credit. Secured cards are often the best option available to those with a bankruptcy in their past. Be sure to choose a secured card that pays you interest on your deposit!On the other hand, if you have a very good credit score and would like a higher limit ($5,000 or more), check into applying for a gold card at the same interest rates but with a slightly higher annual fee. Most gold cards require that your annual income be at least $35,000, and platinum cards -- even higher!With all of this money getting spread around, and lots more of it out there, it's no wonder why most of us are constantly receiving notice that we're "pre-approved" for an endless stream of credit cards. There's got to be a catch...A word of caution about those "pre-approved" card offers you get in the mail: You may get an offer for a new credit-card account with a pre-approved credit limit just slightly higher than your balance on your current card. The fine print could reveal an extremely high interest rate and also state that, by accepting the offer, you agree to transfer the entire balance of your other credit-card account to the new, high-interest account. This is a trick, since you would never consciously choose to pay more interest each month. Read everything carefully so that you don't fall into this trap.And before you toss this offer into the garbage, shred it so that no one can fish it out and try to impersonate you.No matter what kind of card and plan you choose, you should have access to the following information under the federal Truth in Lending Act so that you can compare one loan to another:Finance charges in dollars and as an annual percentage rate (APR)Credit issuer or company providing the credit lineSize of the credit lineLength of the grace period, if any, before payment must be madeMinimum payment requiredAnnual fees, if applicableFees for credit insurance (if any), which pays off your loan if you die before the debt is fully repaidCard TypesThere are basically three types of credit cards:Bank cards, issued by banks (for example, Visa, MasterCard and Discover Card)Travel and entertainment (T&E) cards, such as American Express and Diners ClubHouse cards that are good only in one chain of stores (Sears is the biggest one of these, followed by the oil companies, phone companies and local department stores.) T&E cards and national house cards have the same terms and conditions wherever you apply.You may also be familiar with what is known as an affinity card. This card -- typically a MasterCard or Visa -- carries the logo of an organization in addition to the lender's emblem. Usually, these cardholders derive some benefit from using the card -- maybe frequent-flyer miles or points toward merchandise. The organization solicits its members to get cards, with the idea of keeping the group's name in front of the cardholder. In addition to establishing brand loyalty, the organization receives some financial incentive (a fraction of the annual fee or the finance charge, or some small amount per transaction, or a combination of these) from the credit-card company.No one card is right for everyone. Basically, the right card for you is one that's accepted where you shop and charges you the smallest amount of money for the services you use. Almost any U.S. business or establishment that takes MasterCard also takes Visa, and vice versa. So if you only spend money in the United States, you probably don't need both.

Credit Card Plans

Now we come to the core of the credit-card selection process -- which plan to choose. The costs and terms of your credit-card plan can make a difference in how much you pay for the privilege of borrowing (which is what you're doing when you use a credit card).In the disclosure form from the credit-card issuer (usually a small, fine-print brochure), look closely at the credit terms we discussed earlier. Don't forget about specifics like late charges (usually $15 to $30) and over-the-limit fees (around $20 to $25). Consider these factors along with how you pay your bills each month.For example, if you always pay your monthly bill in full, the best type of card is one that has no annual fee and offers a grace period for paying your bill before finance charges kick in. If you don't always pay off your balance each month (and seven out of 10 American cardholders fall into this category), be sure to look at the periodic rate that will be used to calculate the finance charge.One of the major factors to consider in a credit-card plan is whether it has a variable or fixed interest rate.Whether the credit-card plan uses a variable or fixed rate in charging interest can have a significant effect on what you pay to use your card.Credit-card companies that issue variable-rate plans use indexes such as the prime rate, the one-, three- or six-month Treasury Bill rate, or the federal funds or Federal Reserve discount rate. (Most of this can be found in the money or business sections of major newspapers. See the list of links at the end of this article for more information.)Once the interest rate corresponding to the index has been identified, the credit-card issuer then adds a number of percentage points -- called the margin -- to this index rate to come up with the rate the consumer will be charged. In some cases, the issuer might choose to use another formula to determine the rate to be charged. These issuers multiply the index or index plus the margin by another number, the "multiple," to calculate the rate.Take a good look at fixed-rate plans. They may be a couple of percentage points higher than a variable rate, but you will have the advantage of knowing what your interest rate will be. Variable rates are just that -- they change -- and can increase (usually the case) or decrease your finance charges.If your rate is fixed, the Truth in Lending Act requires the lender to provide at least 15 days notice before raising the rate. In some states, there are laws that require more notice.Some financial analysts argue that because a fixed rate can be increased with only a 15-day notice, this plan is not that different from a variable-rate plan, which is subject to change at any time. They advise looking closely at both plans. If you do choose a variable-rate card, check to see if there are caps on how high or how low your interest rate can go. If the lowest variable rate possible on your card, for example, is 15.9 percent, and rates are trending downward, you may want to switch your card to another lender.Few experts will argue with the fact that a low interest rate is a good thing. To illustrate the importance of a low interest rate, let's look at a simple example of how much your annual savings might be if you switch to a credit-card plan with a lower interest rate and no annual fee. In our example, the average monthly balance carried forward equals $2,500, which is about the national average for consumers with credit-card debt. Total annual savings in this example -- $120.

On-Line Credit Applications are Fast and Easy

Gone are the days of waiting several days or weeks to be approved for a credit card. While it is still possible to apply for credit via “snail mail,” it is now more common than ever to apply for any type of credit via the Internet. With the help of the Internet, it’s possible to apply for and receive approval on a line of credit in a matter of seconds or minutes. Many wonder whether or not it is safe to apply for credit via the Internet due to the fact that so much personal and confidential information must be entered into the computer in order for the credit application to be completed. The truth is, most legitimate banks and credit agencies have highly advanced systems which protect potential credit customers from any sort of fraud. However, it’s always a good idea to make sure the computer being used to apply for credit is fully equipped with the most updated anti-virus software and anti-spyware. Unfortunately, personal information that is sent to banks and credit agencies can be stolen and used in a negative way. While the chances of this happening are rare, it’s is getting more common to hear stories of this happening to individuals. When it does happen, it can cause a number of problems and headaches. So, if a credit application is going to be completed on-line, be sure to take reasonable and easy precautions so that the transaction is secure. An on-line credit application should be very similar to a paper credit application in terms of what is asked. There are many common questions on both forms such as contact information (address, phone number and e-mail address), information on the household’s annual income, banking information, and the standard question, “What is your mother’s maiden name?” While questions such as those listed above are common, there may be additional questions on an on-line credit application which can be completed for anyone who is trying to obtain a higher than normal line of credit. Is applying for a credit card or line of credit via the Internet better than applying for either using a physical piece of paper? The answer is, “yes and no.” First of all, applying on-line can produce very fast results. If credit is needed immediately, using the Internet is a good way to obtain it. Virtual forms are usually easy to complete, and it’s practically impossible for an electronic application to get lost at the post office! However, with an electronic application, there is no physical evidence of an application being filed. While an electronic application can usually be printed, it’s not as official as having a “real” application in hand. Nonetheless, this is usually not an issue or problem for most people. On-line credit offers often entice people because they may come with a free gift, a lower interest rate, or a complimentary airline ticket anywhere in the world. Credit applications that come in the mail may also offer such deals, but when using the Internet, it’s much easier to see a multitude of credit offers all at once, which can help ensure that the best one is chosen. Applying for an instant credit card or line of credit can be quite easy for a person with a good credit score, but it’s not always so easy for people who have bad credit. Don’t forget that a credit agency will almost always run a credit check prior to offering credit to a person. A credit check can be obtained within seconds, and if the score is too low, it’s common to receive an electronic response that says, “credit denied” or “additional information needed.” In other words, an on-line application does not guarantee that a credit offer will be extended. On-line credit card approval is definitely a convenience because it is fast and easy. However, it’s important to remember to carefully review all of the terms and conditions of the credit offer prior to applying for and accepting it.

Credit Card Billing Errors

One way to avoid billing errors and unjustified fees is to carefully go through your monthly credit-card statement, making sure all the transactions are legitimate and that other charges -- finance charges, late or over-the-limit charges -- are justified.The Fair Credit Billing Act applies to credit card and charge accounts and to overdraft checking (but not to checks or debit cards). You can use this act to defend against billing errors, unauthorized use of your account, goods or services charged to your account but not received or not provided as promised, and charges for which you request an explanation or written proof of purchase. Here are some important steps to take when you encounter one of these problems:Write to your card issuer or creditor within 60 days after the first bill containing the disputed charge is mailed to you. (Even if more than 60 days has passed since you were billed for the item, you still might be able to dispute the charge if you only recently learned about the problem.)In the letter, give your name, account number, the date and amount of the disputed charge and a complete explanation of why you are disputing the charge.Send your letter to the address provided on the bill -- do not send the letter with your payment. (To be sure that your letter is received and that you will have a record of its delivery, you might want to send it by certified mail, with a return receipt requested.)If you follow these steps, the creditor or card issuer must acknowledge your letter in writing within 30 days after receipt and must conduct an investigation within 90 days. While the bill is being investigated, you don't have to pay the amount in dispute. (The creditor or card issuer is not allowed to take action to collect the disputed amount, report the amount as delinquent or close or restrict your account during this time.)If it is determined that there was an error or that you don't owe the amount you're being held responsible for, the card issuer must credit your account and remove any finance charges or late fees relating to the amount not owed. For any amount still owed, you have the right to an explanation and to copies of documents that prove you owe the money. If the bill is correct, you must be told in writing what you owe and why. You will owe the amount disputed plus any finance charges.There are a number of non-profit and non-commercial organizations that provide credit information and assistance to consumers. Check out the National Consumer Law Center and U.S. Citizens for Fair Credit Card Terms.So, now that you know all this, let's find out what it takes to qualify for a credit card in the first place.
There's no way to know if you'll qualify for a credit card without doing some research. Some of the basic things that lenders look for include:Good payment record - If you pay your bills on time, you'll score major points with lenders. If you have a lot of late payments, this can hurt your chances of getting a card, and, if the lender decides to issue you a card, it's probably going to have a higher interest rate.Control of debt load - Lenders generally want to see that you are a good credit risk and that you aren't living beyond your means. Experts say that non-mortgage credit payments each month should not exceed more than 10 percent to 15 percent of your take-home pay.Signs of stability, responsibility - Lenders perceive things such as longevity in your home and job (at least two years) as signs of stability. Having a respected profession doesn't hurt either.Lack of credit inquiries - This one is a little strange. Whenever you apply for a credit card, the lender pulls your credit report from one or more of the major bureaus as part of the approval process. Each time a report is pulled, it's marked as an inquiry and stays on your credit bureau report for two years. Lenders perceive several inquiries on your report as indications that you're scrambling for loans and may consider you a poor credit risk. So, in order to beat this system, don't allow every credit-card issuer you speak with to pull your report.Lack of available or unused credit - Did you know that having credit cards that you don't use -- and have a zero balance on -- can hurt your credit? The rationale here, experts say, is that if you have all this available credit lying around, you could run it up at any time (even if you never have). Get rid of the cards you don't use. Be sure to ask the credit-reporting bureaus to remove the discarded cards from your report, noting that you -- not the creditor -- closed the account.

Credit Card Applications

Before we get into shopping for a card, let's go over some important terms you'll encounter in credit-card brochures or discussions with potential lenders:Annual fee - A flat, yearly charge similar to a membership feeMany companies offer "no annual fee" cards today, and lenders who do charge annual fees are often willing to waive them to keep your business.Finance charge - The dollar amount you pay to use creditBesides interest costs, this may include other charges such as cash-advance fees, which are charged against your card when you borrow cash from the lender. (You generally pay higher interest on cash advances than on purchases -- check your latest bill to find out what you're paying for this service!)Grace period - A time period, usually about 25 days, during which you can pay your credit-card bill without paying a finance chargeUnder almost all credit-card plans, the grace period only applies if you pay your balance in full each month. It does not apply if you carry a balance forward. Also, the grace period does not apply to cash advances.Annual percentage rate (APR) - The yearly percentage rate of the finance chargeInterest rates on credit-card plans change over time. Some of these adjustments are tied to changes in other interest rates, such as the prime rate or the Treasury Bill rate, and are called variable-rate plans. Others are not explicitly tied to changes in other interest rates and are called fixed-rate plans.Fixed rate - A fixed annual percentage rate of the finance chargeVariable rate - Prime rate (which varies) plus an added percentage (For example, your rate may be PR + 3.9 percent.)Introductory rate - A temporary, lower APR that usually lasts for about six months before converting to the normal fixed or variable rate (This is a hot topic -- more about it later.)Experts say that if you're smart, you'll do the same kind of comparison shopping for a credit card that you do when you're looking for a mortgage or a car loan. This is a good idea because the choices you make can save you money. The process is not a simple one -- here are some tips that should help you get started:Do some research - There are plenty of places, both online and offline, where you can read about credit-card offerings and even get credit-card ratings, but since rates and plans change so often, it's a good idea to call the institutions you're interested in to confirm the information and to see if there are other plans that might work for you.A reliable and non-commercial resource is the Federal Reserve Board. Also, the non-profit consumer credit organization U.S. Citizens for Fair Credit Card Terms offers credit-card ratings from its research (and so do a lot of commercial organizations -- many of whom are also credit-card issuers).Make a list - Make a list of credit-card features that fit your financial needs and rank the features according to how you plan to use the card and pay your monthly bill.Review the plans - Review all of the information you've gathered on different plans. Pay special attention to the APR - - you want a low rate, but not necessarily the lowest. This is because, depending on your lifestyle and payment habits, you might benefit more from a card that offers cash rebates, discounts or frequent-flier miles.Check out credit unions - Look into the possibility of joining a credit union. Credit unions are non-profit, and they have lower overhead so they can charge lower interest rates. Credit unions are newer to the credit industry so they are eager to generate credit-card loans. However, you'll probably be required to open a share account or savings account to join.Credit unions typically are limited to a particular employer and its employees, but that's changing. Due to industry consolidations, credit unions are rapidly expanding their fields of membership. To find out which credit union you may be eligible to join, contact the Credit Union National Association (CUNA).Compare plans - If you already have a credit card, be sure that you're making a good move before you swap cards. If you are a current cardholder and have a good credit rating, see if the institution that issued your card will lower your current rate. Don't be afraid to negotiate!These are steps to take when deciding on a credit card. But your actual breadth of options depends in great part on your credit history.

What Credit Card Numbers Mean

Although phone companies, gas companies and department stores have their own numbering systems, ANSI Standard X4.13-1983 is the system used by most national credit-card systems.Illustration by Rosaleah RautertThe front of your credit card has a lot of numbers -- here's an example of what they might mean.Here are what some of the numbers stand for:The first digit in your credit-card number signifies the system:3 - travel/entertainment cards (such as American Express and Diners Club)4 - Visa5 - MasterCard6 - Discover CardThe structure of the card number varies by system. For example, American Express card numbers start with 37; Carte Blanche and Diners Club with 38.American Express - Digits three and four are type and currency, digits five through 11 are the account number, digits 12 through 14 are the card number within the account and digit 15 is a check digit.Visa - Digits two through six are the bank number, digits seven through 12 or seven through 15 are the account number and digit 13 or 16 is a check digit.MasterCard - Digits two and three, two through four, two through five or two through six are the bank number (depending on whether digit two is a 1, 2, 3 or other). The digits after the bank number up through digit 15 are the account number, and digit 16 is a check digit

Getting Rid of Debit cards

If your credit-card balance has crept up to uncomfortable levels, you're not alone. Millions of Americans have learned -- the hard way -- how easy it is to use and abuse their credit cards and how difficult it can be to pay them off.Myvesta (formerly Debt Counselors of America) and the National Consumer Law Center offer these credit-card debt elimination tips:Always be aware of all of the fees that may be associated with your credit card. (That means not tossing out the fine-print leaflets that come in your bill periodically!) Know the annual fees, current interest rates, finance charges, cash-advance fees and any other fees tied in with your card. This knowledge can help you make better decisions on how to manage your card.Cash advances can be trouble! You should only get cash advances when it is absolutely necessary. Higher interest rates (than you're paying for card purchases) are usually charged, and most banks also charge a service fee related to how much cash you're withdrawing. (The same applies to those handy, personalized "checks" the credit-card company sends you!)Always be on the look-out for cards that offer lower interest rates. Transferring balances from one card to another to take advantage of low introductory rates is a common practice among U.S. cardholders. Low introductory rates can be very helpful in your quest to become free of credit-card debt. You should look for credit cards that offer a low intro rate (usually for six months), and transfer the balance from your previous credit card to that credit card. Before you take this step, however, make sure that, after the intro rate has expired, the new card offers the same (or lower) interest rate as your current card.Experts say that making minimum payments is one of the most common mistakes consumers make. You will save lots of money on interest and get to debt-free goals sooner if you pay more than what is required each month.It's true that it's really easy to fall into the credit-card trap, and not so easy to get out. But don't give up -- there are non-profit centers across the country that will provide counseling to you and will even (at no or low charge) contact your credit-card company and try to get your rate lowered or a different payment plan worked out. Check out this brief book list:The Credit Repair Kit, by John VenturaAll About Credit: Questions (And Answers) About the Most Common Credit Problems, by Deborah McNaughtonWhat Every Credit Card User Needs to Know, by Howard StrongThe Insider's Guide to Credit Cards by Barry KleinCredit Card and Debt Management: A Step-by-Step How-to Guide for Organizing Debt and Saving Money on Interest Payments, by Scott BilkerUsing Your Card AbroadCredit-card acceptance varies around the world. For example, in some countries (including France), Visa and MasterCard networks have been merged so that all merchants who take one, take them both. On the other hand, the cash-advance networks have not been merged. So, if you are in France, for example, almost any bank or ATM (if you have a four-digit PIN) can give you a cash advance on Visa, but only a few banks and cash machines (and all post offices) can give you a MasterCard cash advance.In other countries (such as Italy), Visa and MasterCard networks have not merged. So, if you're going there, you might need both.American Express and other T&E cards were originally aimed at an upscale market, catering to this group by offering check cashing, mail-holding and cash-advance services to traveling cardholders. (Now, Visa, MasterCard and others offer some of the same services.) AmEx and Diners Club are widely accepted in the United States, although not as widely as Visa and MasterCard.In Europe, there are increasingly fewer places that accept only Diners Club or only American Express. In France, you can use American Express at more places than in the United States; in Italy, Germany, England and Greece, you can use it less, in general, except in shops with special appeal to tourists. Be sure to check out the credit-card situation before you travel.

How Credit Bureaus Get Information

A credit bureau is a clearinghouse for credit information about consumers. There are more than 1,000 local and regional credit bureaus around the country that gather information about your credit habits directly from your creditors. Typically, these smaller local and regional bureaus are affiliated with one of three large national credit bureaus -- Equifax, Experian and TransUnion (see below). For example, let's say you apply for a credit card and provide the card company with all of your personal information, such as your name and address, your previous address (if you haven't lived at your current residence for more than two years), your employer, other credit cards you have, etc. The credit card company then contacts a credit reporting agency (CRA) and reviews your credit report. If the company approves your application for a credit card, then the information you've supplied is forwarded to the CRA. That credit card company also reports your payment history to the CRA, so that becomes part of the report. The CRAs also access information about you from public record information such as court records.
All of the transactions you have that involve credit are reported monthly to CRAs by the merchants or creditors you deal with. Most large creditors report this information to all three national credit bureaus (CRAs). Some smaller lenders or merchants, however, may only report the information to one. For this reason, your report from each CRA may not be the same. You might get a copy of your report from Experian that does not include an account that shows up on your report that is maintained by TransUnion. For this reason, it is wise to review copies of all three reports.
You can find the contact information for all three national credit bureaus in the United States.
Equifax – www.equifax.comTo order your report, call: 800-685-1111 or write: P.O. Box 740241, Atlanta, GA 30374-0241
To report fraud, call: 800-525-6285/ TDD: 800-255-0056 and write: P.O. Box 740241, Atlanta, GA 30374-0241
Experian – www.experian.comTo order your report, call: 888-EXPERIAN (397-3742) or write: P.O. Box 2104, Allen, TX 75013
To report fraud, call: 888-EXPERIAN (397-3742)/ TDD: 800-972-0322 and write: P.O. Box 9532, Allen, TX 75013
TransUnion – www.transunion.comTo order your report, call: 800-916-8800 or write: P.O. Box 1000, Chester, PA 19022
To report fraud, call: 800-680-7289/ TDD: 877-553-7803 and write: Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92634-6790
While the report itself only relays the history of your dealings with creditors, potential creditors can learn a lot from this. Read on to find out how professionals interpret your credit report.

How Credit Bureaus Get Information

A credit bureau is a clearinghouse for credit information about consumers. There are more than 1,000 local and regional credit bureaus around the country that gather information about your credit habits directly from your creditors. Typically, these smaller local and regional bureaus are affiliated with one of three large national credit bureaus -- Equifax, Experian and TransUnion (see below). For example, let's say you apply for a credit card and provide the card company with all of your personal information, such as your name and address, your previous address (if you haven't lived at your current residence for more than two years), your employer, other credit cards you have, etc. The credit card company then contacts a credit reporting agency (CRA) and reviews your credit report. If the company approves your application for a credit card, then the information you've supplied is forwarded to the CRA. That credit card company also reports your payment history to the CRA, so that becomes part of the report. The CRAs also access information about you from public record information such as court records.
All of the transactions you have that involve credit are reported monthly to CRAs by the merchants or creditors you deal with. Most large creditors report this information to all three national credit bureaus (CRAs). Some smaller lenders or merchants, however, may only report the information to one. For this reason, your report from each CRA may not be the same. You might get a copy of your report from Experian that does not include an account that shows up on your report that is maintained by TransUnion. For this reason, it is wise to review copies of all three reports.
You can find the contact information for all three national credit bureaus in the United States.
Equifax – www.equifax.comTo order your report, call: 800-685-1111 or write: P.O. Box 740241, Atlanta, GA 30374-0241
To report fraud, call: 800-525-6285/ TDD: 800-255-0056 and write: P.O. Box 740241, Atlanta, GA 30374-0241
Experian – www.experian.comTo order your report, call: 888-EXPERIAN (397-3742) or write: P.O. Box 2104, Allen, TX 75013
To report fraud, call: 888-EXPERIAN (397-3742)/ TDD: 800-972-0322 and write: P.O. Box 9532, Allen, TX 75013
TransUnion – www.transunion.comTo order your report, call: 800-916-8800 or write: P.O. Box 1000, Chester, PA 19022
To report fraud, call: 800-680-7289/ TDD: 877-553-7803 and write: Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92634-6790
While the report itself only relays the history of your dealings with creditors, potential creditors can learn a lot from this. Read on to find out how professionals interpret your credit report.

Fixing Errors on a Credit Report

What if your name is Bob Jones, and when you get your credit report from one of the credit bureaus you find that there are accounts listed there that are held by another Bob Jones? Or, you find that your unemployed and debt-heavy brother's information is showing up on your report? What do you do? Under the FCRA, you have the right to, and the CRA has the responsibility of, correcting any errors or incomplete information in your credit report.
Listed below are some steps you can take to correct errors on your report. Whatever you do, don't use one of those companies that say they can "fix" your credit history -- erase bankruptcies, liens, bad credit, etc. While there are some legitimate companies out there that can help you, you can do anything they can do.
One very important thing is to document everything you do (dates and times of phone calls, people you spoke with, what they said, what your action was, etc.), and keep copies of everything you send them. Don't send original documents -- send copies. Remember to be aggressive and persistent. This process may take a while -- usually three to six months.
Let the paperwork begin - You will begin a long and often arduous task of writing letters explaining the inaccuracies. First, send a letter to the CRA to give your side of the story and try to set straight the inaccuracies that have been reported. The letter should include your name and address and explain what is inaccurate and why. Tell them the facts and request a correction to your report. It would also help to include a copy of your report with the incorrect information circled, along with copies of any documentation that supports your claim. Send your letter by certified mail with a return receipt so you know it was received. Keep a record of everything you sent. Second, send a letter to the merchant or creditor who supplied the incorrect information to make it known that you are disputing it. Send copies of the documentation that supports your claim, just as you did with the CRA.
(NOTE: Most of the national credit bureaus allow you to begin the dispute process online. This isn't a bad place to start; but if you have additional documentation, presenting it the good old fashioned way is probably best.)
Give the CRA 30 days - The credit reporting agency legally has 30 days to investigate your claim (unless your claim is deemed "frivolous" or "irrelevant"). If after this amount of time you haven't heard back, call the customer service department. There is usually a toll-free number on the credit report that you can call for assistance. Remember to keep notes of your conversations and any actions that were taken as a result.
Re-reviewing your credit report - When you get a written response from the credit agency, you'll also get a new copy of your credit report (if there were any changes). If any information is changed on the report, the CRA cannot change it back unless the creditor provides proof that it was accurate. In this case, you will get notification from the CRA that the item has been put back on your report. You'll receive the contact information for the creditor or merchant so you can begin your battle (if you know you're right). Like we said at the beginning, be aggressive and persistent! Find out the creditor's side of the story. See below to find out what to do if they're right and you're wrong. If you can't get any satisfaction and feel you're not being treated fairly by the creditor, you can contact the agency to which they report. Credit InfoCenter has a page that lists this contact information.

How Credit Reports Work

If you've ever applied for a credit card, a loan to buy a house or car, or a line of credit to make some other large purchase, then you've probably had your credit report reviewed by the lender. If your report says you don't pay your bills on time, or that you have a lot of debt, you may not get that loan -- or you may get it but have to pay a higher interest rate. Because it can have such an impact on the things you do in your life, you should make sure that your credit report is accurate and that you understand how it affects the credit you can get. In this article, we'll take a look at what goes into a credit report, who puts it there, and who can get access to it. We'll also find out how all of that information is compiled into a single document that can have a pretty big impact on your life.
A credit report is an accumulation of information about how you pay your bills and repay loans, how much credit you have available, what your monthly debts are, and other types of information that can help a potential lender decide whether you are a good credit risk or a bad credit risk.