LAWS OF THE STATE OF NORTH CAROLINA FOR CREDIT CARD DEBT WHEN SOMEONE DIES

When a debtor dies, his estate must give priority to debts in accordance with the laws of the State and the debts as much as possible. Law in North Carolina state prioritizes extremely low on credit card debt, in many cases, the creditor will write off the debt, once she learns of the death of the debtor.

Federal Law
In general, the credit card debt belongs to the person who paid the price. Thus, if a resident of North Carolina owe money to credit card companies to his death, the executor must use the assets of the estate to repay the debt. If the estate does not have sufficient assets to repay the creditor to write off the rest as a bad debt.

Joint responsibility
If the debtor had joint credit cards with her husband, she becomes responsible for the debt in full. The spouse must pay or make arrangements to do with the company credit card to avoid credit ratings or negative action against it. In North Carolina, surviving spouses must also inform the credit card companies of the death of a spouse and close all credit card accounts of the spouse.

Order of Claims
Credit card debt and other unsecured claims are the lowest priority must address a succession in North Carolina. The executor of an estate must pay first the privileges of property and funeral expenses, including the cost of erecting a tombstone. If any funds remain, the executor must pay federal taxes and state. Then he must pay any judgment against the debtor and pay unpaid wages for employees of the deceased. The executor can only pay the credit card debt after satisfying all other obligations.

Distribution of funds
North Carolina law prohibits creditors from collecting debts heirs of deceased debtor, even if they receive benefits from life insurance or any other heritage. Creditors write any debt that the succession can not afford and can not threaten the heirs with a legal action or other consequences.

Read More

CREDIT CARD PAYMENTS & DEATH

When a person dies, the last thing the relatives of want to think it is repay credit card debt.However, creditors must be informed so that they stop interest on the outstanding debt and the debtor's executor must determine how to use the funds from the estate to repay the credit card and other debts the deceased had left behind.

Marital responsibility
If you and your spouse have joint credit cards, debt liability passes to your spouse after your death. In addition, if you live in a community property state, your spouse's debts end may consider your property if debts he incurred during your marriage. 2011, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin are states considered community property.

CREDIT CARD PAYMENTS & DEATH

Liability of the heirs
Spouses, children and other heirs are not responsible for payments by credit card debtor an end except for marital obligations listed above. Creditors can not demand payment of these people, and it does not affect the credit of an heir if she does not pay the credit card bill the debtor. It is illegal for creditors to tell heirs that they have a legal obligation to pay the debt, such as debt collectors can not lie to debtors in an attempt to collect a debt.

Debtor's property
2011, the executor of an estate must use estate assets to settle debts. However, the holder of the estate must prioritize the debts of the estate, if there is not enough money in the estate to pay all debts after the liquidation of the property, the owner of the estate to pay debts the highest priority, and let go of the other debts. The executor is responsible for communicating with creditors to inform them of the situation.

Read More

IF I AM UNDER 21 CAN I STILL QUALIFY FOR A CREDIT CARD ?

With the Law on credit card, 2009,which came into force on 22 February 2010, young adults aged under 21 can not get a credit card in specific circumstances and may not be targeted by credit card issuers with offerings pre-qualified. It is not impossible to get a credit card if you are aged 18 to 21, but it is more difficult than before.

Act of 2009 credit card
Act credit card in 2009, which was enacted in 2009 and entered into force 22 February 2010 effectively brought sweeping changes to federal laws that govern the issuance of credit cards.The Act was the response of legislators to the financial crisis of 2008, which was largely a result of lending and borrowing practices irresponsible. To avoid a similar catastrophe in the future, the government made it more difficult for mortgage lenders and credit card issuers to target people at risk, which includes low-income borrowers and young adults.

Cosignatory
The new Act provides credit card issuers require co-signature of an adult on demand credit card if the principal applicant is 21 years. This requirement may be waived only if the applicant can demonstrate sufficient capacity to repay the borrowed money. While the exact definition of "ability to pay" may vary depending on the situation, it usually involves either gainful employment or cash reserve. In simpler terms, one of three conditions must be met for a person under 21 years to get a credit card you must have a job or sufficient cash or income from a source, such as inheritance or an adult 21 or more must co-sign your application for credit card.

Credit limits
If you get your credit card with the co-signature of an adult who is 21 years or more, your borrowing limit can not be used without the express consent of the co-signer. Even if you are the holder of the credit card and pay all your primary credit card bills on time, the co-signer must accept an increase in your credit limit. The goal is to prevent young adults filling a considerable debt of credit cards, which can easily happen if the credit card issuer automatically triggers the borrowing limit in response to timely payments.

Offers pre-authorized
While you can get a credit card under the age of 21, do not expect any credit card offer unsolicited mail. Act credit card 2009 prohibits financial institutions to pre-approve potential customers age 21 and send them requests for unsolicited credit card. Credit card issuers are also prohibited to offer free items, such as t-shirts or bags, on university campuses to promote credit card offers. In short, if you are under 21, you must apply and meet several conditions to obtain a credit card proactively.

Read More

Credit cards offer the convenience of protection purchase

Credit cards offer the convenience of protection purchase, which covers you for purchases that are damaged, poor quality or not to your satisfaction. Rules for credit card yields vary depending on the type of card, however, the Act clearly states your rights as a consumer when it comes to returns.

Identification
Federal laws consumer credit are in place to protect consumers against fraud, billing duplicate or erroneous, deceptive sales and credit card theft. Under the conditions of the fair credit billing Act (FCBA), a creditor shall promptly correct any billing error reported by a consumer and deliver a quick credit payment. The Act also provides that a consumer may withhold payment on any property that is defective at the time of purchase. Truth in lending Act (TIL) gives consumers three days grace period when taking credit transactions that require collateral. Truth in lending Act also limits consumer liability for credit card lost or stolen.

Misconceptions
Before a consumer can request a refund or dispute a credit charges, he must first make an effort to reach a solution with the merchant. If the trader refuses to offer a replacement product or issue a credit for damaged goods, a consumer may exercise its rights under the Act immediately billing and credit withhold payment.

Restrictions
The rights under the fair credit may be limited if the card issuer of credit is a banking company, travel or entertainment separate from the store where you made your purchase. For example, the good or service at issue must have a retail value of $ 50 or more and were purchased at a location 100 miles from your home residence.

Solution and prevention
If your credit card is stolen, you are not responsible for any unauthorized charges and can get the full amount refunded to your account for free within a maximum of $ 50, according to the truth in lending Act. However, you must submit your credit card lost or stolen to the credit card issuer immediately. You must pay a maximum of $ 50 regardless of whatever the amount is debited from your card, then it is lost or stolen.

Warning
Keep your original sales receipt for your records, but to provide a copy to the issuer of your credit card with supporting documentation. If you do not have the documents, contains the name, address and telephone number as well as the merchant phone name and the title of any person to whom you spoke the product you want to return.

Read More

HOW TO USE PAYPAL WITH Tuxedo Maestro card

Tuxedo Maestro card is a prepaid credit which allows to preload your money on your card to use rather than relying on credit. Prepaid credit cards give you the opportunity to improve your credit, just as you would with a normal credit card, but you use your own money. The map can be used Tuxedo online with PayPal to make payments for online purchases.

Tuxedo Maestro card

Instructions
Go to the PayPal website and click "Sign Up" to register for a PayPal account. Click "Start" under "Personal" to create a personal account with PayPal.
Enter your required information, such as telephone number, postal address, email address and password. Double check to ensure that the information you entered is correct.
Check the "Link my credit card" and enter your card number Tuxedo, expiry date and security code three or four digits. To allow this card, PayPal charge a small fee to ensure there is money on your card this fee is a few dollars and under will be credited to you in two weeks.
Read and accept the policy of Convention and privacy of user by clicking "create account Agreement. "Your card Tuxedo will now linked to your PayPal account, and you can start making online purchases with your account immediately.

Read More

A COMPARISON OF THE CHARACTERISTICS OF THE CREDIT CARD

Credit cards are used by consumers as a form of payment at a point of purchase and generally take the form of a small plastic card. Credit cards are a form of unsecured debt that consumers make payments each month. These devices offer different payment balances, promotions and awards for use.

Awards
Rewards credit card can take several forms. Some credit cards offer cash back when consumers make a purchase. For example, the Chase Freedom Visa card offers unlimited 1% cash back on all purchases. Some cards offer percentages for specific purchases, such as food or gasoline higher cash discount. Other rewards cards are industry specific. Credit cards tailored to the airline industry can offer flyer miles with every purchase, so that users can earn card finally free flights. Credit cards offer retail customers store credit card or a gift, when the consumer has purchased a fixed amount of products.

Promotional Offers
Some credit card companies offer additional functionality in the form of promotions. Card users can receive cash bonus on their first purchase with the card, or they may receive a low introductory annual rate (APR) financing costs. Most companies offer credit card special offers to cardholders solvent, such as controls that can be used in a game during a standard APR.

Grace period
A grace period is the time to purchase the interest of time is measured on a scale. Grace periods may vary from 20 to 50 days, which all depends on the terms of the bank issuing the card and consent of the cardholder. Some credit card companies allow consumers a missed payment per year without imposing late payment fees.

Annual Percentage Rate
All credit cards featuring a APR, which is the amount of interest assessed on a credit card balance as an annual percentage. Different credit cards offer different APRs based on consumer's credit history. Shop for a low interest credit card can save users money card major. Some credit cards will reset the interest rate to the highest possible rate if the cardholder misses a payment. Others allow the card holder to miss one or two payments per year without assessing interest rates higher.

Sales
Some credit cards featuring higher balances. Balance is the maximum amount of money that can be applied to the card without the issuer, assess penalties over-the-limit. Offers different credit card are willing to expand different amounts of credit to a consumer, based on the risk that the issuer of the card is ready to take.

Read More

WHICH IS A CREDIT CARD SIGNATURE?

Banks use many words to describe their cards credit. Gold, platinum, preferred, select, premier and reserves are among the terms included in the official name of a map. The products offered by Visa include a "signature card". The company claims that these cards offer benefits that are more points, miles or cash you earn for the card.
Signature identification card

To determine if you have one of these cards, look for the words "Visa Signature" printed on it.Different types of cards are these words, including Hyatt, United mileage Plus, Marriott Rewards, southwest rapid rewards, Alaska Airlines, Nordstrom and loyalty. Companies issue cards include Chase, Bank of America, Wells Fargo and Capital.
Concierge services

One of the advantages offered by Visa Signature cards are what financial services company called "concierge service." Like you would get with a concierge in a hotel, this service provides telephone assistance with restaurant recommendations and reservations, buying concert tickets, find a specific type of store or business, guidelines and trip planning. This toll-free line is available 24 hours a day.
Shows and sporting events

Those with a Visa Signature card can purchase tickets for sports events in a section set aside for cardholders. They also get discounts on tickets to select sporting events. Golfers can take advantage of discounts on lessons and merchandise, and golf packages at the stations.Cardholders can also receive discounts on merchandise related to football and other sports.Those who love movies, concerts and Broadway shows can purchase tickets at a reduced rate.
Travel

Benefits offered to guests with a Visa Signature card include one night stay free drinks, discounts on food and beverages, room upgrades, free breakfast and accommodation discounts.Those who take a cruise can get on board spending credits and a rebate of the room. If you rent a car, rent a free day, a free upgrade and / or a discount on your total cost of rental are available. Adventurous travelers can get discounts on experiences such as driving a car stock, skydiving and take a ride in a hot air balloon. Using your Visa Signature card to purchase your travel ticket gives you automatic travel accident insurance and reimbursement limited to lost luggage.

Read More

HOW TO DETERMINE THE TYPE OF CREDIT CARD NUMBER

All credit card numbers follow a formula standard by which the first six digits of the credit card identifies the company that issued the card. The rest of the digits of the credit card form the individual account number, except for the last digit, which helps computer programs to find the numbers valid credit card. Determine the type of credit card by matching the first six numbers against a list of industry.

Instructions
Look at the first digit the number of credit card, which identifies the general category of industry which issued the card. Figures are the most common first 1 and 2 for airlines, 3 for travel and entertainment, 4 and 5 to 6 banking and finance, merchandising and banking, oil and 7 for 8 for telecommunications. For example, a credit card number beginning with 7 is probably an oil company or a map of the gas station.
Count the number of digits in the credit card. Cards with 14 numbers are generally Diner Club cards with 15 digits and are usually American Express JCB credit cards or older. Most other major types of credit cards have 16 digits.
Corresponds to the first few digits of the card number for credit card issuers of credit if possible. Discover cards start with 6011 or 65. MasterCard begins with a number of 51 to 55. American Express cards start with 34 or 37. JCB cards begin with 2131, 1800 or 35. Visa cards that start with 4.

Incoming search terms:
15-digit card insurance
visa card starts
credit card number to figure how

Read More

WHAT HAPPENS THERE IN A NON-PAYMENT OF A CREDIT CARD ?

If debt overwhelms you, it can be tempting to just stop paying your credit cards. In general, this is not the best idea. There are many other options, such as negotiating lower payments with the company or talk to a counselor about debt management. When you miss your first payment period, a specific chain of events is triggered. A calendar varies widely from company to company, but their actions are the same.
Up to 60 days late

Once your credit card bill is a day late, the credit card company charges late fees added to it.When this is the delay of 30 days, they will report to the credit bureaus as being late on a payment. At 60 days late, the credit card company will trigger your interest rate on the card to their maximum potential as high as 30 percent. All fees and interest will be added to your balance as they accumulate, including late fees added each month.
Delay of 61 to 120 days

After 60 days, most credit card companies look at your map to be in default, and they can send you a letter requesting payment in full. If you have not made any movement towards the payment of your credit card by 120 days (in most cases), the credit card companies consider your account as a charge-off. This means that they ranked your account irrecoverable by normal means and expect to take a financial loss on it. Off charge accounts can do serious damage to your credit report.
Collections

Once your account is charged off, you will begin receiving letters and calls from collections. In some cases, the credit card companies start internal collections, and you may be able to negotiate a payment schedule. In most cases, an outside collections buying groups charged-off accounts and tries to collect in full.
Legal limits in Collections

Collectors are legally limited in what they can do to collect the debt. They can not send you to prison, nor can they threaten to send you to prison. They can call you at work or at home, as well as sending letters. They are also legally allowed to call friends, relatives and neighbors to determine how to reach you. If you tell them to call for cease and desist in writing, they can only contact you by mail. You can also specify a single address at which they can communicate with you in order to eliminate the mail at work. Beyond sending letters to a specified address, the debt collectors can do something else: sue.
Lawsuits and garnishment

Debt collectors try to recover small amounts are unlikely to bring a prosecution because prosecution is expensive in time and money. However, they will go to the Court on the biggest debts. If the collector can prove that you have not paid your debt their legal, the Court will make an order for you to pay the debt within a certain time. Usually, the Court will also order garnishment. This order goes to your employer and require the employer, under penalty of law, up to 35% of your after-tax wages to pay off your debt. If you deliberately ignore or avoid the court order anyway, you will find contempt. In this case, you can go to jail as a result of non-payment of debt, however, where a debtor went to prison are very rare.
Recourse

At this stage, your recourse is limited. You can legally bankrupt credit card debt. Once your bankruptcy is filed, the garnishment must stop. You can call the collection agency to organize the refund does not involve your salary, in most cases, they require an automatic arrangement to pay directly from your bank. Or you can simply pay the debt.

Read More

HOW TO BUY BANK OF AMERICA CREDIT CARD POINTS

Credit cards are valuable personal finance tools because they allow you to build your credit history, developing your credit score. An additional advantage of using a credit card is that you can earn reward points credit card. A credit card company that offers a variety of rewards programs credit card from Bank of America. Reward Points Bank of America can be exchanged for items such as airline tickets, travel, education and money.

HOW TO BUY BANK OF AMERICA
 CREDIT CARD POINTS

Instructions
Sign in to your online account at Bank of America.
Select the account for which credit card you earn points. If you have more than one credit card from Bank of America, you must choose the card you want to redeem your points.
Click the "Rewards" at the top of your screen under the banner image Bank of America.
Choose the reward that you would like to receive. The type of reward you can receive depends on the type of credit card from Bank of America that you have. Make sure that you have earned enough points you can redeem your reward against them. Follow the instructions and check the specific procedures relating to your chosen reward, like entering flight information for tickets or to choose the time of check-in and check-out to book a hotel.

Tips & Warnings
You must redeem at least 2,500 reward points for your reward.

You can also redeem your points by calling the Bank of America at 800-434-8313 and follow the recorded instructions. Call this number between the hours of 09 and 21 hours is normal.

Read More

HOW TO CHOOSE A SPREADSHEET CREDIT CARD

Choice of credit cards is much easier when you use a method to compare the offers, according to the Federal Trade Commission. Organize your information by creating a spreadsheet of the credit card. Doing so will help you understand the benefits and costs of each card. Make comparisons and select the card you benefit more financially.

HOW TO CHOOSE A SPREADSHEET CREDIT CARD

Instructions
*Divide your spreadsheet into five columns labeled with the type of card subheadings, annual interest rate, fees, grace period and benefits.
*Select multiple cards from a reliable source or bank offers mailed to you.
*Examine each card agreement and copy information disclosure in the appropriate columns for each card.
*Compare cards using a spreadsheet of credit card
*Assess needs and discuss the type of card. Store cards carry high interest rates and low limits. Opening a merchant account too much detail can reduce your credit score, according to the Federal Trade *Commission. Apply this type of card only if you have no credit. In contrast, major credit cards usually offer more competitive interest rates, higher limits and not limited to a specific vendor. Cards function as major credit cards, but their balances must be paid each month.
*Determine the annual percentage rate and fees. Beware of credit cards that offer low rates touts introduction for a limited time. Current law requires creditors to contact when the interest rate will change and how it is calculated. Consider all costs associated with the card.Credit card companies may charge an annual fee ranging from $ 15 to $ 150, depending on the type of card. Discover how the creditor fees for late payments, cash advances and transferred balances.
*Check for a grace period. Most credit cards have a grace period-a period when you can avoid interest charges by paying the balance before it is due. A map with no grace period may impose financial costs on the date of the transaction is made or the date that each count is displayed on your account. Choose a card with a grace period, if you intend to pay off the balance each month and the desire to avoid paying interest charges.
*How does one calculate the charges balance. The average daily balance is calculated by adding up your daily balances and subtracting any payments you made to the account, and then dividing the total by the number of days in the billing cycle. Cash advances and new purchases are usually included. The adjusted daily balance method is not as profitable for creditors because it subtracts payments made during the current cycle, giving you until the end of the billing cycle to pay your balance without some nascent fees daily interest.
*Compare the benefits of the card. If the credit card has an annual fee and a high credit limit low, it may not be worth opening an account. Avoid cards that offer reward points if you do not want or cashing in the points is to pay a fee. Cards with no annual fee and low interest rates are usually a better deal than credit cards for future purchases, discounts and other gadgets.

Read More

CREDIT CARD OFFERS FOR PEOPLE WITH BAD CREDIT

Consumers often receive credit card offers by mail, but if they have bad credit, they quickly realize that many of these deals are out of their reach. According to the company Fair Isaac, the company that created the FICO scoring the model, credit scores range from 300-850. More your credit score, the more difficult it will be for you to qualify for a credit card. If you have a low FICO score at the moment, do not worry. There are credit card options for those with bad credit, just know what they are.

CREDIT CARD OFFERS FOR PEOPLE
WITH BAD CREDIT

High interest credit cards
Credit cards with low interest rates and 0% introductory offers are usually reserved for consumers with high credit ratings. If you have bad credit, you will not receive these offers. The truth is, there are millions of consumers with bad credit who need access to a credit card. In response to this need, a whole industry has surfaced that caters to consumers with bad credit. This is good news. The bad news is that these cards usually carry a higher interest rate. Responsibility for credit card, 2009, accountability and disclosure Act (CARD) hiking provides consumer protection for credit card holders by limiting the interest rates retroactively, but there is no limit the rate of interest banks or lenders are allowed to charge. In other words, the rate would be 2% or 50%. In May 2010, the Orchard Bank MasterCard for bad credit to an annual fee of $ 74 the first year and an annual percentage rate (APR) up to 28%, and the first Prime Minister of bank card credit with 79.9% APR. While there is a high number, keep in mind that when you have bad credit, a credit card is to have access to a small amount of credit to pay the bill on time each month and allow this new credit history in order to increase your eligibility for a card with more traditional lower interest and smaller fees. This is an end. Consider it as such and use this opportunity to make a financial measure before.

Secured credit cards
A secured credit card is issued based on the deposit placed with a bank. Credit lines generally vary between a minimum of $ 200 to a maximum of $ 5000, unless guaranteed MasterCard Bank of America, which has an upper limit of $ 10,000. The credit line will be equal to the amount of deposit. This is different from an unsecured credit card, the Bank determines the credit limit based on your credit. Unlike cards high interest rates, secured credit cards usually have lower interest rates. Some cards, such as Visa obtained HSBC will waive the annual fee for the first two years. According to the Bank, the deposits are placed in a savings account or certificate of deposit. Deposits may or may not earn interest. Check the terms of the agreement to explore for some. If you use a secured credit card wisely, it will improve your credit over time and the doors open to unsecured cards on the road.

Prepaid credit cards
A prepaid credit card is a rechargeable credit card that allows you to add money to the card as you need. It has the MasterCard or Visa logo, which gives you the opportunity to use it for online purchases, pay bills and ATM withdrawals. It is not attached to a checking account as a debit card, so you do not incur overdraft charges because you can only spend what is on the card. Similar to a secured card, your spending limit is based on whatever funds are added to the map. Some secured credit cards, such as MasterCard guaranteed by Citibank are secured with a certificate of deposit, which means that you can not increase the credit limit when the account was opened. With a prepaid credit, you can change the credit limit at any time by adding more funds. Some cards monthly fee. Others, such as the Bank Freedom Prepaid MasterCard, no. Read the terms and conditions before signing. Also, some card issuers refer to prepaid credit cards as prepaid debit. Both terms mean the same thing and should not be confused with a traditional debit card, which is issued by the Bank after opening a checking or savings account.

Read More

HOW SMALL BUSINESSES CAN ACCEPT PAYMENTS BY CREDIT CARD

Whatever the nature of your small business, acceptancecredit cards can increase the number of potential customers you have. Many buyers are no longer carry much cash as they do their shopping, preferring the convenience and ease of shopping by credit card. As a small business owner, you have a number of choices for the acceptance of credit cards, it is important to choose the option that best meets your needs.

HOW SMALL BUSINESSES CAN ACCEPT PAYMENTS
 BY CREDIT CARD

Instructions
-Sign up for a PayPal account by going to paypal.com and click on "Register". Enter the information requested in the application. Having a PayPal account in place will allow your business to accept payments online shoppers using credit cards.

-Decide where you want your small business to accept credit cards. You can choose to accept only Visa and Mastercard, or you can accept American Express and Discover.

-Contact the bank where you have your business checking or savings account instead. Your bank can help you create a merchant account to accept credit cards for your business.

-Paperwork to read merchant account, then complete the application form and submit it to the address indicated on the form. Wait to receive your merchant account. You will receive instructions and paperwork by mail after your account has been approved.

Read More

The credit and credit cards ... decryption!

I had the chance or (bad luck) to work for the largest Canadian VISA service ... and I learned a lot!
This message is for permanent residents but rather that I will explain is also valid for the United States, even if the Canadian system has its peculiarities.

1 - What is the credit?
Question beast? Not really. VISA, Mastercard etc ... are not DEBIT cards as in France or you're shopping and the money is debited directly from your account or card has FLOW TIMER, or money is debited at the end of the month.

The credit and credit cards ... decryption!

No cards are called in North America: "Charge Cards" Our credit cards are used as cards double as ATM and VISA card.

In Canada, it gives you an ATM card has immediate withdrawal. You will need to apply for additional credit card VISA or MasterCard. For this, you need a credit history (credit history), that is to say he must show that you are a good payer. Why? Well simply because when you use the money from the bank to the limit on the card and you pay the bank late in paying your bill VISA or MC, in theory you borrow money and by paying every month, you build your credit history. This will be used later if you buy a car, house etc ....

The Credit Score
Your credit score is calculated with a 3 digits. The credit bureau (2 agencies in Canada) harvest the information sent by your creditors (good or bad) and every time you apply for a credit card (we generally plsuieurs credit cards), loan, purchase car etc. ... the creditor will check your score and credit file vore.

We also checked bankruptcies and bad debts remain on your record for 7 years .... or interest of a good start, you never know!

2 - Credit Cards
All this to say that as PVTiste the only cards that you can get will be "protected" it is, we will ask you to ensure that the limit of your card by making a deposit in a savings account, or well sum up the branch for you or even the interest rate on the card is higher than normal (up to 24%!) and all of this will of course be dependent on your residence permit.
Some banks do not even give you the card if your residence permit is only 1 year.

The different types of cards:
There are many cards on the market, most give you points every time you shop, you can choose your program, for example to collect points with Aeroplan (Air Canada) or stores pharmaprix / shoppers, Air Miles etc ... or even the "cash back" concept that I struggled to understand: we refund up to 1% or 2% of what you spend with your VISA card.

The calculation of interest:

-If you pay the ENTIRE at the end of the month, you pay no interest on the PURCHASES.

-If you pay partially, you pay interest on the sum from the ENTIRE DAY of purchase (except in Quebec)

-If you withdraw cash with your VISA or MC, is a cash advance (cash advance) and you pay interest on the Day of withdrawal and up to what amount is fully refunded.

In North America, you are no NOTHING without credit, so think about it if you stay in Canada. I had so many clients immigrants - including French - who had no idea how the banking system works and are fooled by beauty!

After 2 years in Canada, I managed to get a credit crazy and I'm trying to fund my business ... on my credit cards, ca is enormously in North America, I know someone who has even open a nightclub with credit cards!

Read More

Functioning of the credit card

Credit cards are issued after an account has been approved by the credit provider, after which cardholders can use it to make purchases at merchants accepting that card.

When a purchase is made, the user by credit card agrees to pay the card issuer. The cardholder indicates consent to pay by signing a receipt with a record of the card details and indicating the amount to be paid or by entering personal identification number. In addition, many merchants now accept verbal authorizations via telephone and electronic authorization using the Internet, known as a transaction not "card / cardholder '(NOC).

Functioning of the credit card

Electronic verification systems allow merchants to verify that the card is valid and the client's credit card has enough credit to cover the purchase in a few seconds, allowing the verification to happen at time of purchase . The verification is performed using a terminal payment by credit card or a Point of Sale system with a connection to the acquisition of the merchant bank. Data on the card is obtained from a magnetic stripe or chip on the card, the latter system is the United Kingdom and Ireland generally known as Chip and PIN, but is technically a card MLE.
Other variations of verification systems are used by eCommerce merchants to determine if the user account is valid and accept charge. These typically involve the cardholder providing additional information such as the security code printed on the back of the card, or the address of the cardholder.

Each month the user's credit card is sent a report indicating the purchases undertaken with the card, any outstanding fees, and the total amount owed. After receiving the report, the cardholder may dispute any charges that he or she thinks are incorrect (see the righteous Fa billing credit for detail regulations of USA). Otherwise, the cardholder must pay a defined minimum proportion of the invoice due date, or may choose to pay a higher amount up to the full amount due. Credit support provider interest on the amount owed (typically at a much higher rate than most other forms of debt). Some financial institutions can provide automatic payments to be deducted from the user's bank accounts, thus avoiding late payment altogether as long as the cardholder has sufficient funds.

Read More

Insurance with your credit card (Visa, Mastercard, American Express)

Insurance with your credit card (Visa, Mastercard, American Express) are more like support contracts that will assist you in case of incidents, for a short time without giving you health insurance coverage very important and under no circumstances should you stay more than 3 consecutive months in the United States.If you want to be well covered, we advise you to use in conjunction with a specific policy. Without going into too much detail, we will give you an outline of the services offered.
The main benefits via your credit card
Attention: This analysis is not exhaustive and has no legal value. In addition, certain safeguards have been updated by banking organizations but not yet included in our presentation. We advise you to contact your bank for details about your warranties.
The outline of coverage for:

Insurance with your credit card

Insured persons
It is usually the cardholder, spouse or partner, dependent child tax under the age of 25 and ascendants and descendants. A note on the Visa spouse and dependent children are covered even if they do not accompany the cardholder. While for the Mastercard "standart" including the family of the owner must accompany to benefit from the service.

Extended territorial coverage
For Visa "standard" and "first", you will be covered in the world, with no deductible mileage for your professional or private stopovers in your country of residence (if you are a French resident in metropolitan France including Corsica, Monaco, Andorra, DOM TOM and COM) or outside your country of residence, for warranty assistance. Regarding the guarantee insurance, it applies to more than 100 km from your home or place of work. For Mastercard and American Express, assistance does not require excess mileage, except for the "Gold" Amex with which you will be covered only 50 km from your home to support your vehicle, the medical and repatriation costs, and 100 km from your home in the world to guarantee the rental vehicle.

Length of Coverage
Guarantees credit cards take effect on the date of purchase (under certain conditions) these cards throughout the duration of them until termination or automatic renewal of the holder in the country of residence. When traveling abroad, assistance coverage apply the first 90 days of stay. This condition can vary from one card to another depending on the type of coverage (insurance or assistance) if the stay is longer for specific reasons (death, disability due to an accident during the stay) for "Visa Premier "guarantees insurance apply the first 180 days of stay. Warning: If your stay exceeds three months your credit card "standard" will not cover you.

Application conditions
As mentioned earlier, the guarantees offered by credit cards apply in general from the possession thereof but subject to certain conditions. There are two types of guarantees, assistance and insurance. The first applies when the purchase of the credit card in case of illness or injury, death, lawsuits abroad and help the onward journey. The second applies when you set your travel services and other purchases related to it with your credit card in case of incidents of travel (delays aircraft, train, luggage) and accidents travel (death, disability). This can vary from one card to another.

Costs of Health supported
Ceilings offered by credit cards are dwarfed by the medical expenses that may be incurred in certain foreign countries like the USA, which is why it is strongly advised to take out additional insurance. Your medical expenses will be reimbursed up to a ceiling of € 11,000 for Visa and Mastercard plus an excess of € 50 to € 75 for one and the other. Visa First has a higher ceiling (€ 155,000) with a deductible of € 50. Amex cards have a maximum reimbursement of € 9,200. For example, with a deductible of € 50 if consulting a doctor costs 60 €, you will be reimbursed between 0 and 10 € with your credit card.

Assistance benefits
Generally, the guarantees offered by different credit cards cover almost the same benefits:

• Support transportation costs and hotel for a family member in case of hospitalization of the insured more than 10 days ("Visa Premier" 125 € / day for 10 days up to 375 € beyond "Platinum Mastercard" 250 € / day for 10 days up to € 750 above). TO KNOW: with supplementary health insurance, there are no limits.

• Repatriation and support to the home or place of hospitalization of children under 15 years.

• The early return in case of hospitalization for more than 24 hours or death of a loved one (support ticket forward / reverse).

• Sending drugs.

• Repatriation of body in case of death during the stay.

• Legal assistance abroad.

Travel cancellation insurance
Travel cancellation insurance is generally not available with the cards 'standards'. Visa Premier offers this guarantee capped at € 5,000 with a reimbursement of € 200 per insured person if the cancellation is made 30 days before departure. Cancellation fees are paid by the Amex Gold and Platinum up to € 4,500 to € 10,000 per insured per year. The "Platinum Mastercard" reimburse up to a maximum of € 10,000.

Warranty delayed flights or luggage
Cards "standard" does not generally provide for compensation to cover basic necessities when your flight or luggage is delayed. The Visa Premier offers 250 € from 4 hours behind travel. Amex cards compensate you 150 € ("personal card") and € 800 (Platinum) for baggage delay, and between 100 € and 200 € for the delay of the aircraft. Insurance for delay Mastercards covers the costs between € 250 (Gold) and € 500 (Platinum).

Theft or damage to baggage
Standard cards do not compensate. Visa First will cover you up to 800 € per bag with a deductible of € 70. Card "Platinum" Amex, guaranteed personal belongings in case of theft, loss or damage up to € 2,000 per trip. For the map "Platinum" Mastercard, the ceiling is € 3,200 per year.

Liability

You are not covered with standard cards. Visa Mastercard Platinum and Premier cover you up to € 1,525,000 per occurrence for all damages and injury caused to third parties. Platinum Amex card covers you up to € 2,000,000 for damage and injury caused to others during a trip.

Remember that if there is an accident, € 1.5 million in some countries like the United States depart quickly from medical expenses, legal fees ... etc..

The death or disability
The application of this guarantee is generally subject to the use of your card to purchase your ticket. The accident that caused the death or disability must have occurred during the trip to be a trip "guaranteed" by the insurer (make sure the application conditions for each card). It can be a journey by public transport or car rentals. The Mastercard to pay € 95,000 (public transport) and € 46,000 (rental car). Visa Premier and Gold Mastercard pay in case of death or disability to € 310,000 per family and per event .. Cards Amex Gold and Platinum Mastercard cover respectively to € 300,000 and € 620,000 per family and per event.

Specific guarantees
To benefit from these guarantees, you must subscribe in general to supplementary insurance.

Read More