How does a credit card work ???
604171
You buy.\nThe bank pays the merchant (less a discount)\nYou pay the bank.\nThe bank pays the credit card issuer a fee\nThe merchant pays the credit card issuer a fee\n\nWorks well if you don't abuse it!!
184321
NOrmally, your credit card will have the following interests. One for purchases. One for cash advance. One for balance transfers.\n\nPurchases can have a promotional rate like 0% for the first 6 months of the card then it goes to Prime + xx%. Cash advances are normally 22% Balance transfers can be as low as 3% for the life of the balance depending on your credit history (both usage and payment) with your card company. You are correct, do not average them as it will only confuse you further. Treat them individually. The reason for the different rates is to "lure" you into spending much on the lowest interest segment, usually, balance transfers. While it is in your cardmember agreement in very fine print, all your payments will first be applied to the LOWEST INTEREST charges. When that is completely paid off then and only then will it apply to the second lowest and so on. Imagine you made a cash advance of $500 at 22% but have purchases of $700 at 17% and a balance transfer of $5000 at 3%. Until you are able to pay off completely the $5000, the $700 will continue to earn interest upon interest plus the $500 cash advance will rake in 22% month after month.\n\nMy advice to all is when you have a credit card with a low balance transfer rate, by all means use it for balance transfers only. Use another card to purchase goods. Or pay the balance off before doing a balance transfer.
291642
Yup. because a credit  card is a credit card. lol but thats a good question
488037
Debit card just allows withdrawals direct from your bank account, and doesn't allow you to get more money than you have. A credit card allows you to draw moneyup to the credit limit you have been given, you have to pay it back and unless you do so completely each month they will charge you interest.
1054824
It works like any other debit card.  You connect the Paypal with a bank account to transfer funds in.  When you use the Paypal card, just like a debit card, it subtracts from your Paypal balance.
484553
When you call the bank, they will reverse the charge and issue you a new card. You'll never know who used the card. These things happen so often that they won't really do anything for $500.
505664
Unfortunately, you must establish credit to purchase cars and homes, the needs of life.\nLook for a card that is low interest and does not have any extra charges. Have a couple of friends or relatives, who are knowledgeable on the subject go over application to ensure you are not getting ripped off. \nTHE GREATEST WISDOM TO HAVING A CREDIT CARD is not to over charge. You should put small purchases on card each month and PAY FOR ALL OF YOUR PURCHASES WHEN YOU PAY YOUR MONTHLY BILL. The way these people make money is to increase your spending limit until your limit is so high that you have to eat worms for five years in order to pay the card off. Pay all charges each month. If you find yourself spending more than you can pay each month, either give the card to a TRUSTWORTHY friend or relative that will not let you have the card or just tear the card up.
832134
Hmmm interesting, well i dont know much about credit cards. I know that this has done me and my friend good in the past in bad times. Give this a look, tell us what you think.\nhttp://shurl.org/AWxZX
911691
Everyone, regardless of credit, gets those preapproval letters in the mail.\n\nGo with the card through your credit union.  The more services you have through you credit union/bank, the more power you have with them in the long run.
1170492
hi there, welcome on board. \nIf you are willing to read up then there's a big chance you'll find an answer here somewhere:\nhttp://finance.ebookorama.com/\nhttp://credit-cards.ebookorama.com/\nI have had a few happy people coming back to me after posting the links so hopefully it'll do your trick!  if it does help you don't forget to give me best answer :-)
763474
they have cards especially for students, I used to work for a company that processed credit card apps over the phone.\n\nkeep applying, you will find one make sure you find out what the apr is, annual fee and possible participation fee.  \n\nif you cant get a good apr I think the highest you should go is 9% then get one for now to build your credit it may not be great but if you pay it well you can get a better one in the future.\n\nI had bad credit then paid alot of bills off. i finally could get approved with first premier bank.\n\n9% fixed apr, but lot of yearly fees.  I am going to get a better one in a couple of years when this one looks good. \n\nThats how credit works!
379775
A Check-card works as a check,.. it deducts money from your checking account. It has a Visa logo on it and you can use it at ATM's or anywhere where visa is accepted (such as the mall, restaurants, etc). Does not help your credit\n\nA Debit can be used at any ATM machine and some select stores and locations. Does not help your credit.\n\nA credit card is based on your credit score and credit history. It is basically like a loan (with a limit) that you must pay back monthly in order to maintain a good credit standing. If used properly and responsibly this line of credit will benefit you. It will show your ability to make payments, thus bring up your credit score. With a good credit history you are able to do many things such as buying a car, a house, etc..
456519
Credit cards are easy to get.  TOO easy if you ask me.  You can apply online, call the company, or apply through your bank.  BE CAREFUL though because they will give you a card and a maximum limit and it is so easy to just start spending.  I have a friend who racked up credit cards when she was 17 and 18 and she barely, barely paid them off (she is 27).  They are not your friends.  Make a habit of only spending what you make and having one to only use in emergencies like unexpected car repair.  Good luck and God bless.
1080999
what dose that have to do with credit
891042
The minimum payment on a credit card is calculated typically based on some percent of the balance or some minimum set, like $20, or $50.  \nSo, let's say the company sets $15 as the minimum payment or 5% of the existing balance (The credit card terms spell this out exactly and varies by company).  Let's also say the credit card has a 30 day "grace period" (which means you can pay off the current balance and pay no interest).  Let's also say the interest rate on the card is 20% (for simplicity):\n\nYou have a credit card with a $1,000 limit.\nYou charge $400 on it.  Your next statement would have the following:\nOutstanding Balance:  $400.00\nMinimium payment:  (5% = $20), so you payment would be $20 versus the $15; which is the company's minimum payment.\n\nIf you paid the $20, your outstanding balance would be reduced to $380.  If you charged nothing on it the next month, your next month statement would be:\n\nPrevious Balance:  $380\nInterest Charge:  ($380*20%) - $75\nNew Balance:  $455\nMinimum Payment ($455*.05) = $23.\nSo, if you pay the minimum payment each pay period, you may NEVER pay off the balance because the interest charged could be greater each month than the previous payment.  UGH! \nHOWEVER, provided you keep paying the minimum charges, you will be given a positive report on your credit rating.\n\nNow, let's talk about what you do.  \n\nMonth 1\nOutstanding Balance:  $400\nMinimum Payment:  $20\nYour Payment:  $200\nNew Balance:  $200.\n\nMonth 2 - no new charges\nPrevious Balance:  $200.00\nNew Charges:              0.00\nInterest Charged:    $ 40.00\n\nNew Balance:         $240.00\nMinimum Pay:         $  15.00 (5% is 12.00 so it's the higher of the two)\n\nAt that rate, you will pay the full balance in less than 3 months at $200 per month and would accrue a total of $48.00 over the 3 months.   \n\nNow, from a credit rating perspective:\n.  In the first scenario you would certainly get lots and lots of "good marks" for consistently paying your bill.  Over 12 - 15 months, this would look very "good" and you would have a much bigger balance that might be approaching your total limit.  Depending on your income, though, it wouldn't matter\n\n.  In the second scenario, you get "good marks" for paying on time for the 3 months you have an outstanding balance.  In 12 - 15 months, you would have that record but if you had not added other balances, etc, you would have no other credit 'history'.  \n\nA paradox?  You bet!  In the first scenario, you will actualy be much worse off in terms of your credit balance and the amount of interest you have paid on the $400.  In fact, it will be horrible.\nIn the second scenario, you will have minimized the interest, be in good financial shape, but you will not have the same "successful history".\n\nWhy is this?  Because credit is a number game (no pun intended).  Banks, Credit Card companies, etc. do not want everybody paying on time with high payments.  If people did that, they'd make less money.  Remember, a Bank sees a "deposit" as a liability and a Loan as an Asset (it's how they make money).   So, they often create weird incentives for people to screw up.  See, if you pay the minimum, they charge more interest.  If you go over your limit, they charge a big fee for doing it.  If you call, them, they may very well increase your credit limit or even be willing to issue you another card and give you a check so you can balance the payment (which they will then charge you a cash advance fee for and higher interest rate).  It's how they make money and how they get you sucked in to the point where you probably can't get out.  They have little risk because very often the actual charge against the cards were not that high, it's all the interest and fees you pay that kill you.\n\nSo, what do you do to build a good credit rating without ending up bankrupt and killing it?
672508
Details Required for credit card Transaction:\n\n1. Card Type: The user is required to type or select of the card, he wishes to use by saying Visa, Amex, Master ,Diners Club card or anyother.\n\n2. Credit Card No. : On getting the card type from the user, the user is required to feed in the credit card no. by typing the appropriate numbers printed as on the credit card.The system replays the card no. for verification\n\n3.Security Code: On getting the card no., the user is instructed to feed in the security code , which is played back for confirmation. Security code is the three digit CVV no. on the back of the credit card in case of Master / Visa / Diners club credit cards or the 4 digit batch code on the back of the Amex Credit cards.\n\n4.Expiry Date: then the system asks the user to enter the credit card expiry date in the format 'mmyy' by pressing the appropriate keys.\n\n5.Credit Card Holders Name: Finally you want to enter the Credit card Holders Name as printed in the Credit Card.\n\nThese are the Required Details for Credit Card Transaction
877732
Avoid this one like the plague as well.  It's a racket, it isn't a real credit card at all.  They only thing you can buy is overpriced junk from their catalog.  For that dubious privileged they charge you for the "card" and charge you a monthly fee.\n\nSave your money.  It isn't going to help your credit in the slightest.\n\nAnd yes, you will have to pay a shipping fee as well for items you purchase.