VISA http://www.wisebread.com/taxonomy/term/1063/all en-US What's the Difference Between MasterCard and Visa Credit Cards? http://www.wisebread.com/whats-the-difference-between-mastercard-and-visa-credit-cards <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/whats-the-difference-between-mastercard-and-visa-credit-cards" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/17274752.jpg" alt="" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Have you ever wondered why some credit cards are part of the Visa payment network and some are with MasterCard. Sure, there are other competitors such as American Express and Discover, but Visa and MasterCard dominate the market with approximately 70% of the credit card purchase volume. But for credit card users what's the difference?</p> <p>Answer: not much</p> <p>For most purposes, it matters little to cardholders whether their card has the MasterCard or the Visa label on it. Both are accepted at tens of millions of merchants, at over two million ATM locations and in more than 200 million countries.</p> <h2>When Does It Matter?</h2> <p>On rare occasions, you might find a retailer somewhere that only accepts either Visa or MasterCard. For example, <a href="http://www.wisebread.com/the-new-costco-anywhere-visa-card-by-citi-is-good-news-for-costco-shoppers?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=cc_article">Costco&rsquo;s new partnership with Visa</a> means that only Visa credit cards will be accepted at Costco stores. More likely is that you might want to take advantage of some of the specific cardholder benefits offered by Visa or MasterCard. When a product manager at a credit card issuer designs a credit card, it chooses to participate in the Visa or MasterCard program, or with a competing payment network. And when it chooses Visa or MasterCard, it gets to pick benefits from a menu of options including things like travel insurance and purchase protection. (See also: <a href="http://www.wisebread.com/4-surprising-reasons-to-always-use-your-credit-card?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=cc_article">4 Surprising Reasons to Always Use Your Credit Card</a>)</p> <p>For example, most Visa cards offer some form of <a href="http://www.wisebread.com/what-does-car-rental-insurance-really-cover-on-your-credit-card?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=cc_article">rental car insurance</a> and <a href="http://www.wisebread.com/how-to-take-advantage-of-free-extended-warranty-from-your-credit-card-issuer?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=cc_article">extended warranty coverage</a>, but not all do. Many <a href="http://www.wisebread.com/5-best-cash-back-credit-cards?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=cc_article">rewards credit cards</a> that are part of the Visa payment network are also part of the <a href="http://www.wisebread.com/primer-on-visa-signature-credit-cards-all-the-benefits-that-come-with-your-card?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=cc_article">Visa Signature program</a>, which offers a range of benefits including concierge service, shopping discounts, and travel deals. (See also: <a href="http://www.wisebread.com/10-awesome-credit-card-perks-you-didnt-know-about?utm_source=wisebread&amp;utm_medium=seealso&amp;utm_campaign=cc_article">13 Awesome Credit Card Perks You Didn&rsquo;t Know About</a>)</p> <p>Nevertheless, the same is also true with cards that participate in the MasterCard payment network. A basic MasterCard might offer rental car insurance and few other features while a <a href="http://www.wisebread.com/top-5-travel-reward-credit-cards?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=cc_article">premium travel rewards card</a> will likely be a part of their World or World Elite MasterCard programs, which offers its own list of premium services.</p> <h2>What to Focus on When Choosing a Card</h2> <p>MasterCard and Visa compete so closely with each other, that they end up offering benefits that are largely equivalent. Some credit card users might examine these benefits and find advantages of one over the other, but few of these differences apply to most cardholders. It's much more likely that the real reason for choosing one card over another will be its terms and conditions including the <a href="http://www.wisebread.com/5-best-sign-up-bonuses-for-airline-miles-credit-cards?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=cc_article">sign-up bonus</a>, <a href="http://www.wisebread.com/best-credit-cards-for-everyday-purchases?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=cc_article">rewards for everyday spending</a>, and other benefits not provided by the payment network.</p> <p>For example, an <a href="http://www.wisebread.com/5-best-co-branded-airline-credit-cards?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=cc_article">airline rewards card</a> may offer features such as a free checked bag or priority boarding which are benefits provided by the airline, not the payment network. Likewise, cash back rewards are offered by the card issuer, not Visa or MasterCard. And of course, you should always consider fees such as the <a href="http://www.wisebread.com/the-5-best-credit-cards-with-annual-fees?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=cc_article">annual fee</a> and any <a href="http://www.wisebread.com/smarter-security-and-no-foreign-transaction-fees-the-best-credit-cards-to-use-while-on-vacation?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=cc_article">foreign transaction fees</a>, which will be imposed by card issuers, not payment networks. (See also: <a href="http://www.wisebread.com/ask-these-7-questions-to-help-choose-the-perfect-credit-card?utm_source=wisebread&amp;utm_medium=seealso&amp;utm_campaign=cc_article">Ask These 7 Questions to Help Choose the Perfect Credit Card</a>)</p> <p>By understanding the differences between Visa and MasterCard, or lack thereof, you can look past the payment networks and focus on more important aspects of <a href="http://www.wisebread.com/cash-back-vs-travel-rewards-pick-the-right-credit-card-for-you?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=cc_article">choosing a credit card</a>.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/jason-steele">Jason Steele</a> of <a href="http://www.wisebread.com/whats-the-difference-between-mastercard-and-visa-credit-cards">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/debit-or-credit-which-one-should-you-choose-at-the-checkout">Debit Or Credit? Which One Should You Choose At The Checkout?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/security-breach-puts-50000-credit-card-holders-at-risk">Security Breach Puts 50,000 Credit Card Holders at Risk</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/citi-platinum-select-aadvantage-world-mastercard-review">Travel with Comfort and Ease: Citi / AAdvantage Platinum Select MasterCard</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/barclaycard-rewards-mastercard-review-a-promising-new-card-from-an-old-bank">Barclaycard Rewards MasterCard Review: A Promising New Card From an Old Bank</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/best-of-personal-finance-credit-where-credit-is-due-edition">Best of Personal Finance: Credit Where Credit Is Due Edition</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Credit Cards MasterCard VISA Thu, 14 Jul 2016 10:31:09 +0000 Jason Steele 1710057 at http://www.wisebread.com There's No Good Reason Not to Get the Amazon.com Rewards Visa Credit Card http://www.wisebread.com/theres-no-good-reason-not-to-get-the-amazoncom-rewards-visa-credit-card <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/theres-no-good-reason-not-to-get-the-amazoncom-rewards-visa-credit-card" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/000018711996.jpg" alt="" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Amazon.com offers nearly any type of purchase imaginable, from books and music, to food, electronics, and clothing. It has become the one stop shop for anything you need. The <a href="http://amzn.to/1NrPAT2">Amazon.com Rewards Visa Credit Card</a> awards valuable rewards for not only your Amazon.com purchases, but also for gas, drugstore, and restaurant purchases. If you are an Amazon.com shopper and want to earn rewards on other everyday purchases that can decrease your balance at checkout, the Amazon.com Rewards Visa Credit Card is a great card to have on hand.</p> <h2>How This Card Works</h2> <p>The Amazon.com Rewards Visa Credit Card awards points that can be redeemed for Amazon.com purchases or cash back. Purchases made at Amazon.com earn 3% back. Additionally, get 2% back for purchases made at gas stations, drugstores, and restaurants, and 1% back for all other purchases.</p> <h2>Costs</h2> <ul> <li>$0 Annual Fee</li> <li>14.24%-22.24% Variable APR</li> <li>3% Balance Transfer Fee</li> <li>3% Foreign Transaction Fee</li> </ul> <h2>Pros</h2> <p><strong>Sign-up bonus.</strong> The sign-up bonus can vary depending on whether or not you are an Amazon Prime member. The gift card that Prime members receive upon approval can be approximately $60, which can help pay for the Prime membership fee. Even without the membership, however, you receive at least $30 upon approval, which is a fairly decent bonus for a card without an annual fee. Plus, it is easy to earn and does not include the spending requirement often attached to sign-up bonuses.</p> <p><strong>Earn rewards on nearly any purchase.</strong> Besides the 2% you earn from everyday type purchases made at gas stations, restaurants, and drug stores, you earn 3% on Amazon.com purchases, which covers nearly everything else, including Amazon Fresh, Amazon.com gift cards, and even your Amazon prime subscription. There are very few rewards cards which award bonuses on such a wide variety of purchases, especially without any quarterly or annual caps.</p> <p><strong>Easy redemption of rewards.</strong> You don't have to wait yearly to receive your cash back and you have a variety of options to choose from for redemption. The easiest is to use your points directly at Amazon.com checkout.</p> <h2>Cons</h2> <p><strong>Best for Amazon.com shoppers.</strong> You will earn the most from the card if you frequently shop with Amazon.com. If, however, you are relying on the card for the awards you earn on gasoline, restaurants, or the other bonus categories, you might earn more from rewards cards that focus on those categories. For instance, the <a href="http://www.wisebread.com/cashing-in-at-the-supermarket-blue-cash-preferred-card-from-american-express-review?ref=review">American Express Blue Cash Preferred</a> card carries an annual fee of $95, but awards an unlimited 3% cash back on gas purchases, as well as 6% at supermarkets. (See also: <a href="http://www.wisebread.com/the-5-best-credit-cards-for-dining-out?ref=review">Best Credit Cards for Dining Out</a> and <a href="http://www.wisebread.com/5-best-gas-rewards-credit-cards?ref=review">Best Credit Cards for Gas Purchases</a>)</p> <p><strong>Foreign transaction fee.</strong> The foreign transaction fee is probably less of an issue if it's primarily used for Amazon.com purchases. However, if you travel abroad frequently, the foreign transaction fee of 3% that you are charged for foreign purchases will cancel out any rewards you earn. For purchases made abroad, you may get more out of <a href="http://www.wisebread.com/smarter-security-and-no-foreign-transaction-fees-the-best-credit-cards-to-use-while-on-vacation?ref=review">credit cards without foreign transaction fees</a>.</p> <h2>Who This Card Is Best For</h2> <p>The Amazon.com Rewards Visa Credit Card is best for those who shop regularly at Amazon.com, and whose budget includes gas, drugstore, and restaurant expenses. It is also best for those who plan to use the card primarily for domestic purchases, and those who can get the most out of the card as Prime members (or are considering Prime membership.)</p> <p style="text-align: center;"><a href="http://amzn.to/1NrPAT2"><strong>Click here to apply for the Amazon.com Rewards Visa Credit Card today!</strong></a></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/christina-majaski">Christina Majaski</a> of <a href="http://www.wisebread.com/theres-no-good-reason-not-to-get-the-amazoncom-rewards-visa-credit-card">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/debit-or-credit-which-one-should-you-choose-at-the-checkout">Debit Or Credit? Which One Should You Choose At The Checkout?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/barclaycard-visa-with-apple-rewards-credit-card-review">Barclaycard Visa with Apple Rewards Credit Card Review</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-best-store-credit-card-target-redcard">The Best Store Credit Card: Target REDcard</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/a-new-rewards-card-partnered-with-tons-of-retailers-the-plenti-credit-card-from-amex">A New Rewards Card Partnered With Tons of Retailers: The Plenti Credit Card From Amex</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/upromise-world-mastercard-credit-card-review">Upromise World MasterCard Credit Card Review</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Credit Cards Shopping Amazon.com credit card reviews VISA Thu, 17 Sep 2015 04:44:58 +0000 Christina Majaski 1545952 at http://www.wisebread.com Security Breach Puts 50,000 Credit Card Holders at Risk http://www.wisebread.com/security-breach-puts-50000-credit-card-holders-at-risk <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/security-breach-puts-50000-credit-card-holders-at-risk" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/safety-first-warning.jpg" alt="Security Breach Puts 50,000 Credit Card Holders at Risk" title="Security Breach Puts 50,000 Credit Card Holders at Risk" class="imagecache imagecache-250w" width="250" height="172" /></a> </div> </div> </div> <p>A security breach at Global Payments Inc., a third-party U.S. based processor, may have compromised <a href="http://online.wsj.com/article/SB10001424052702303816504577313411294908868.html">50,000</a> Visa and MasterCard cardholder accounts. According to <a href="http://www.zdnet.com/blog/btl/warning-over-massive-mastercard-visa-security-breach/72829">ZDNet</a>, both Visa and MasterCard have sent out non-public alerts to banks notifying them of the breach.</p> <p><a href="http://krebsonsecurity.com/2012/03/mastercard-visa-warn-of-processor-breach/">Krebs on Security</a> reported that the breach was first detected by Global Payments in early March. The accounts were compromised between January 21st and February 25th 2012. The information obtained in the breach could be used to make counterfeit cards. It is unknown whether or not banks will issue new cards to cardholders as a result of the breach.</p> <p>Affected banks have begun analyzing transactions on the potentially affected cards in an attempt to find common points of purchases. So far, the transactions of the cards that have been analyzed seem to share the characteristic that they were used in parking garages in the New York City area.</p> <p>Visa has released information saying that the breach is being investigated by the Secret Service as well as an unidentified forensics company. The investigation is still in its early stages. Visa and MasterCard have both stated that their networks were not compromised as a result of the breach.</p> <p>If you use a Visa or MasterCard credit card, you may be affected by this breach. The good news is that most credit cards have fraud protection, so even if you are affected by this security breach, you most likely will not be affected by fraudulent charges if you catch them early enough.</p> <p>Make sure you spend some time this weekend checking your credit card statements either online or by phone to see if there has been any unusual activity going on. If there has been, get in touch with your credit card company ASAP!</p> <p>Additionally, if you have yet to get your free credit report this year, get your <a href="http://www.ftc.gov/bcp/edu/microsites/freereports/index.shtml">free annual credit report</a> to make sure there are no discrepancies on your report.</p> <p>Be sure to share this article with your family and friends via Facebook, Twitter, and email so they know about the security breach and can check their credit card statements to make sure they were not affected.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-jacobs">Ashley Jacobs</a> of <a href="http://www.wisebread.com/security-breach-puts-50000-credit-card-holders-at-risk">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-7"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/debit-or-credit-which-one-should-you-choose-at-the-checkout">Debit Or Credit? Which One Should You Choose At The Checkout?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/whats-the-difference-between-mastercard-and-visa-credit-cards">What&#039;s the Difference Between MasterCard and Visa Credit Cards?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/best-of-personal-finance-credit-where-credit-is-due-edition">Best of Personal Finance: Credit Where Credit Is Due Edition</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/are-debit-cards-as-safe-as-credit-cards">Debit Cards vs. Credit Cards: Fees and Fraud Protection</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/pre-approved-for-credit-card-offers-are-you-pre-qualified">Pre-Approved for Credit Card Offers: Are You Pre-Qualified?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Credit Cards banking credit cards MasterCard security breach VISA Fri, 30 Mar 2012 22:10:52 +0000 Ashley Jacobs 915072 at http://www.wisebread.com Debit Or Credit? Which One Should You Choose At The Checkout? http://www.wisebread.com/debit-or-credit-which-one-should-you-choose-at-the-checkout <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/debit-or-credit-which-one-should-you-choose-at-the-checkout" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/3323417297_154f5f66b3_z.jpg" alt="card" title="card" class="imagecache imagecache-250w" width="250" height="167" /></a> </div> </div> </div> <p>It&rsquo;s a question I&rsquo;m asked at least a few times a day when I use my check card, usually by one of those little card-reading machines (although sometimes, an actual living person asks, too). Being someone who hates the word &ldquo;credit&rdquo; I have always opted for &ldquo;debit&rdquo; and proceeded to enter my PIN number. But have I been doing it all wrong?</p> <p>Most of us carry a check card these days. More convenient than checks, and safer than cash, the check card allows a vendor to take money from your checking account and deposit it in their own. And it&rsquo;s quick. Often, you&rsquo;ll see transactions appear on your online bank statement minutes after you have swiped the card.</p> <p>Now, when you&rsquo;re at the checkout of any store, you&rsquo;ll be posed a question &mdash; <a title="Guide to Using Credit Cards Wisely" href="http://www.wisebread.com/credit-card-guide">debit or credit</a>? And although the outcome seems the same (a deduction from your checking account), it&rsquo;s a different process with different consequences, and it uses two different networks. (See also: <a href="http://www.wisebread.com/4-ways-to-beat-debit-card-fees">4 Ways to Beat Debit Card Fees</a>)</p> <p>So, let&rsquo;s say you have a Visa check card. Choose credit and you&rsquo;ll be asked to sign for you purchase. All signature transactions go through the Visa network, and come with the additional security offered by credit card companies. That includes fraudulent use protection and Visa&rsquo;s Zero Liability Policy.</p> <p>But stores really don&rsquo;t like this option, which is why they ask you the &ldquo;debit or credit&rdquo; question. And the reason? Banks get a much larger percentage fee from the merchant or vendor when you sign for your goods, and it is an enormous source of non-traditional revenue. That&rsquo;s why banks offer reward points and incentives to check card holders who choose the credit option.</p> <p>On the other hand, when you choose debit, you&rsquo;ll be asked for a 4-digit PIN number. This purchase is then processed through an EFT (Electronic Funds Transfer) system like STAR or NYCE. These networks don&rsquo;t provide the additional liability protection offered by Visa. However, the store won&rsquo;t incur the same hefty fee that they will have to pay if you choose credit, so stores like this option. A reader also asked a question about cash back. Only the debit/PIN# option allows this transaction, and as doing it this way avoids ATM fees, it's a good choice when you do need some cash. And it&rsquo;s possible that more people choosing the debit option will equate to lower prices in stores. I say &ldquo;possible&rdquo; because there&rsquo;s really no way to predict what stores would do with any extra savings&hellip;most likely, they&rsquo;ll get passed on to the shareholders.</p> <p>But whether you choose debit or credit, either method is safer than using cash or writing checks. Lose a check card and you&rsquo;re covered for almost everything you lose (usually there&rsquo;s a $50 out-of-pocket cost) and it&rsquo;s easy to cancel cards and order new ones.&nbsp; When you lose cash, you&rsquo;ll probably never see it again. Checks can be easily altered and they&rsquo;re also time-consuming (just think back to how you felt the last time someone paid by check for a candy bar or bottle of soda).</p> <h3>Back to the big question. Debit or credit?</h3> <p>Me, I&rsquo;m going with the credit option from now on (unless I want <a href="http://www.wisebread.com/5-best-cash-back-credit-cards">cash back</a>). Not only will I enjoy the added protection of something like the Visa Zero Liability Policy, but I can also take advantage of my bank&rsquo;s reward programs and incentive policies. Now, it may not be as good for the store, but that&rsquo;s something merchants and vendors need to negotiate. <br /> &nbsp;</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="http://www.wisebread.com/debit-or-credit-which-one-should-you-choose-at-the-checkout">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/oprah-asks-a-great-question-what-can-you-live-without">Oprah Asks A Great Question; What Can You Live Without?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-increase-the-chance-of-someone-returning-your-lost-wallet">How to Increase the Chance of Someone Returning Your Lost Wallet</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/regifting-a-simple-how-to-guide">Regifting: A Simple How-To Guide</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/lower-your-credit-card-interest-rate-and-reduce-your-phone-bill-immediately-and-easily">Lower Your Credit Card Interest Rate and Reduce Your Phone Bill, Immediately and Easily</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-stuff-i-try-never-to-buy-new">The stuff I try never to buy new</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Budgeting Consumer Affairs Credit Cards General Tips Shopping check card credit debit MasterCard transaction VISA Tue, 21 Apr 2009 16:36:07 +0000 Paul Michael 3072 at http://www.wisebread.com Best of Personal Finance: Credit Where Credit Is Due Edition http://www.wisebread.com/best-of-personal-finance-credit-where-credit-is-due-edition <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-of-personal-finance-credit-where-credit-is-due-edition" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/credit cards.jpg" alt="Stacked." title="" class="imagecache imagecache-250w" width="250" height="188" /></a> </div> </div> </div> <p>Welcome to this weeks Best of Personal Finance round-up!</p> <p>Ah, credit. What would we do without it, besides live simpler lives with smaller televisions? </p> <p>We here at Wise Bread are fans of Credit Karma, and we're not alone.<a href="http://frugalbabe.com/2009/03/23/credit-karma/"> Frugal Babe</a> gives the<strong> free credit score service</strong> a try, and reports her findings.</p> <p>Believe it or not, the US government is fighting overdraft fees by reforming some banking legislation that you've never heard of (OK, that I've never heard of). And Uncle Sam is soliciting your feedback on the matter, reports <a href="http://www.usnews.com/blogs/alpha-consumer/2009/3/26/uncle-sam-wants-your-opinion-on-card-fees.html?s_cid=rss:alpha-consumer:uncle-sam-wants-your-opinion-on-card-fees">Alpha Consumer</a>.</p> <p>You might think that only people with lousy finances get their credit limit slashed, but even financially well-off people are finding that credit card companies are willing to take away their credit limits, as <a href="http://www.walletpop.com/credit/article/_a/bbdp/credit-limit-slashed-be-very-afraid/396490">Wallet Pop</a> notes.</p> <p><a href="http://www.fivecentnickel.com/2009/03/20/debt-reduction-vs-retirement-savings/">Five Cent Nickel</a> is asked if one should pay off debt or save for retirement first.</p> <p>WSJ blog <a href="http://blogs.wsj.com/wallet/2009/03/25/bofa-drops-spending-caps-on-upromise-credit-card/?mod=rss_WSJBlog">The Wallet reports that Bank of America is taking over the Upromise credit card</a> (the credit card that supposedly helps parents help save money for their children's college tuition) from Citigroup, and may lift the cash back limits on the card.</p> <p>Even if you have credit cards with zero balance that you aren't using, you don't want to close the accounts, and <a href="http://www.moneyunder30.com/closing-credit-card-accounts-fico-score">Money Under Thirty</a> is here to tell you why.</p> <p>Then again, <a href="http://www.askmrcreditcard.com/creditcardblog/should-you-close-your-credit-card-once-you-pay-it-off/">Ask Mr. Credit Card says that your credit score will probably recover </a>if you simply hate the thought of having old, unused accounts lying around.</p> <p><a href="http://www.thesimpledollar.com/2009/03/25/the-low-interest-debt-debate/">The Simple Dollar </a>explains why taking out a low-interest car loan may be a better idea that paying all of the money upfront in one huge chunk.</p> <p>One of the few good things about AmEx (and other major credit card companies) is their chargeback (refund) policies, which tend to favor the consumer. <a href="http://consumerist.com/5185159/woman-who-missed-obamas-inauguration-starts-10000-amex-chargeback">Consumerist </a>writes about a woman who submitting a chargeback for 10k that she spent to secure a spot at the Presidential inaguration in January, which she never got to see.</p> <p><a href="http://www.richcreditdebtloan.com/9-steps-for-establishing-credit/">Rich Credit Debt Loan</a> discusses how to establish credit, assuming that you are one of the few people left in the world without a line of credit (or a young adult, just starting out in a world of owing).</p> <p>Breaking the credit card habit can be hard, but <a href="http://www.ncnblog.com/2009/03/19/how-to-break-the-credit-card-habit/">No Credit Needed </a>was up to the challenge.</p> <p><a href="http://www.doughroller.net/book-reviews/debt-cures-kevin-trudeau/">Dough Roller </a>looks at Kevin Trudeau's Debt Cures and finds them lacking.</p> <p>What do you do if your credit report shows a delinquent account that you never opened and you can't get the collections agency to talk to you? Readers respond at <a href="http://www.freemoneyfinance.com/2009/03/help-a-reader-credit-report-problem.html">Free Money Finance</a>.</p> <p>And although this is not related to credit cards, it is a blog post simply too awesome to pass up: Trent at The Simple Dollar offers <a href="http://www.thesimpledollar.com/2009/03/26/most-time-management-is-rubbish-here-are-ten-things-that-work-for-me/">honest-to-goodness productivity tips that really work</a>. For him, anyway. See if they work for you.</p> <p>If you have a suggestion for the next edition, please <a target="_blank" href="../../../../../../forums/bloggers-corner/best-web-suggest-link-718.html#post5984">share them in the forum</a>!</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/andrea-karim">Andrea Karim</a> of <a href="http://www.wisebread.com/best-of-personal-finance-credit-where-credit-is-due-edition">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/uk-banks-are-blocking-customers-credit-cards-will-the-usa-be-next">UK banks are blocking customers&#039; credit cards. Will the USA be next?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-dirty-secrets-of-credit-cards">The Dirty Secrets of Credit Cards</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/tips-for-increasing-your-financial-literacy">Tips for Increasing Your Financial Literacy</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/funding-your-401k-when-youre-in-debt">Funding your 401(k) when you&#039;re in debt</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/whats-the-best-way-to-get-out-of-debt">What&#039;s the Best Way to Get out of Debt?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Debt Management amex APR credit card interest rates credit cards debit debt finances interest rates loans MasterCard VISA Thu, 26 Mar 2009 22:40:29 +0000 Andrea Karim 2980 at http://www.wisebread.com Debit Cards vs. Credit Cards: Fees and Fraud Protection http://www.wisebread.com/are-debit-cards-as-safe-as-credit-cards <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/are-debit-cards-as-safe-as-credit-cards" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/visa_debit.jpg" alt="visa debit card" title="visa debit card" class="imagecache imagecache-250w" width="250" height="167" /></a> </div> </div> </div> <p>Many financial experts suggest <a href="http://www.ncnblog.com/2007/10/19/how-i-live-without-using-credit-cards-my-simple-system-for-living-on-a-budget/">using debit cards</a> instead of <a title="Guide to Using Credit Cards Wisely" href="http://www.wisebread.com/credit-card-guide">credit cards</a> because in theory, you will spend less if you are only paying with money you have.&nbsp;</p> <p>On the other hand, many people are concerned that debit cards may generate overdraft fees and offer less legal protection against unauthorized charges.&nbsp; Are these valid concerns?</p> <p><strong>Overdraft Fees</strong></p> <p>According to <a href="http://www.bankrate.com/brm/news/cc/transcript-debit-or-credit-card-a1.asp">Consumer&rsquo;s Union</a> &quot;a person using a debit card more than 20 times a year pays an average of $223 in bounced check fees. The one who doesn&rsquo;t use a debit card at all pays an average of $40.&quot;</p> <p>You can avoid these fees with some thoughtful planning. Here are some great tips from <a href="http://www.bankrate.com/brm/news/check_card/debit_card_problems_a1.asp">Bankrate.com</a>:</p> <blockquote><p class="rteindent1">Most banks provide &quot;convenience&quot; overdraft protection -- which is basically a high-interest loan to cover the shortfall in the account -- a consumer who's trying to manage money responsibly could get hit with a fee of around $35.</p> <p class="rteindent1">&nbsp;</p> <p class="rteindent1">Be sure to note all debit transactions in your check register and sign up for overdraft protection linked to your savings account to be on the safe side.</p> <p class="rteindent1">&nbsp;</p> <p class="rteindent1">Consumers should also ask their banks in what order payments are made. Ask where you can find information on nonsufficient funds. Most banks manage payments by paying the largest items first and on down to the lowest. If your biggest item overdraws your account, you'll pay an NSF fee for every subsequent check or debit.</p> </blockquote> <p>Keep in mind the average American pays <a href="http://ems.gmnews.com/news/2008/1223/Greg_Bean/">$1,200 a year</a> in credit card interest fees.&nbsp; If you minimize your overdraft fees with the basic precautions listed above, you will most likely pay less fees by using a debit card.</p> <p><strong>Protection Against Fraudulent Charges</strong></p> <p>One of the major benefits of credit cards is that they offer generous protection against unauthorized charges.&nbsp; Under federal law, debit cards do not have the same level of protection as credit cards.&nbsp;</p> <p>However, many debit card issuers are offering extended liability protection to make up for the legal differences.&nbsp; As <a href="http://articles.moneycentral.msn.com/Banking/BetterBanking/DebitCardsAGoodDealGetsBetter.aspx?page=all">MSN pointed out</a>, &quot;in effect, check cards now have the same protections as credit cards.&quot;&nbsp; I wanted to verify this for myself.&nbsp; Since Visa is one of our sponsors I&nbsp;was able to get a very quick response back from their spokesperson:</p> <blockquote><p>Despite the popularity of debit cards, consumers are often confused about the security features and consumer protections debit cards offer. Many of the same features and protections provided by credit cards are also offered with debit cards. It&rsquo;s important to know that Visa debit cards carry the <strong>same protections as Visa credit cards</strong>.</p> <p>&nbsp;</p> <p>All Visa cardholders (prepaid, debit or credit) are protected by <a href="http://usa.visa.com/personal/security/visa_security_program/zero_liability.html">Visa&rsquo;s Zero Liability policy</a>.</p> <p>&nbsp;</p> <p>This policy means you pay nothing if unauthorized purchases are made on either a Visa Check card or credit card when you choose to sign for your transactions. Some issuing financial institutions offer Zero Liability protections for certain PIN debit transactions as well, but the best way to ensure you are protected is to <strong>sign for your purchases</strong>. Visa&rsquo;s Zero Liability policy actually surpasses protections mandated by federal law, which in most cases caps liability at either $50 (for credit) or $500 (for debit).</p> </blockquote> <p><strong>The Verdict</strong></p> <p>Of course, cash is almost always better than debit or credit cards.&nbsp; And as Nora pointed out, there are many <a href="http://www.wisebread.com/top-seven-reasons-why-i-use-my-credit-card-for-everything">great reasons to use credit cards</a> such as building up credit rating and earning reward points.&nbsp; However, if overdraft fees and fraud protection were holding you back from switching to debit cards, perhaps it is time to take a second look.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/will-chen">Will Chen</a> of <a href="http://www.wisebread.com/are-debit-cards-as-safe-as-credit-cards">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/never-use-cash-for-these-11-things">Never Use Cash for These 11 Things</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/security-breach-puts-50000-credit-card-holders-at-risk">Security Breach Puts 50,000 Credit Card Holders at Risk</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/pre-approved-for-credit-card-offers-are-you-pre-qualified">Pre-Approved for Credit Card Offers: Are You Pre-Qualified?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/netspend-the-story-of-the-visa-debit-card-we-did-not-apply-for">netSpend: The Story of the Visa Debit Card We Did Not Apply For</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/top-seven-reasons-why-i-use-my-credit-card-for-everything">Top Seven Reasons Why I Use My Credit Card for Everything</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Credit Cards credit cards debit cards fraud interest overdraft fees VISA Tue, 23 Dec 2008 13:33:13 +0000 Will Chen 2670 at http://www.wisebread.com Telemarketers Prank Call Me - 800-266-9420 http://www.wisebread.com/telemarketers-prank-call-me-800-266-9420 <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/telemarketers-prank-call-me-800-266-9420" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/3320044072_3702d641ca.jpg" alt="" title="" class="imagecache imagecache-250w" width="250" height="250" /></a> </div> </div> </div> <p>Almost immediately after receiving my new VISA card in the mail, I began receiving calls from a number that showed up on my caller ID as 800-266-9420. The first few times, when I answered the calls, there was that weird mechanical pause, the one that tells you that the computer is alerting the telemarketing rep that they've got a live one. I waited patiently, and asked the telemarketer on the other end to tell me how they got my number.</p> <p>They inevitably claimed to be calling on behalf of VISA. They couldn't tell me which VISA card they were talking about. At one point, I claimed not to have a VISA card at all, to which the rep responded &quot;I don't care&quot; and continued babbling from his script about all the rewards that I could earn, if I'd just keep listening to him babble.</p> <p>I hung up.</p> <p class="heading">The Pranking Begins</p> <p>A couple of days later, I began receiving phone calls at the rate of four or five per day from 800-266-9420. When I would pick up, ready to give the telemarketer and earful about my number's presence on the <a href="https://www.donotcall.gov/default.aspx">Do Not Call</a> list, they would hang up on me.</p> <p>I'm not sure if it was retaliation for sure, but it sure felt like it. I had already rebuffed their unwelcome and unsolicited advances several times. And now they were calling at odd hours, in meetings. But they never said a word. The computer waited for my hello, and would then connect to a person (I could hear them breathing) and fnally, they would hang up.</p> <p>I tried calling them back at the number appearing on my caller ID, but only got a busy signal.</p> <p>I'm <a href="http://smallbusiness.yahoo.com/r-answers-a-20070207165356AAj6d7w-k-local+businesses">not alone in this experience</a>. Go ahead and Google the <a href="http://www.complaintsboard.com/complaints/1-800-266-9420-c4746.html">phone number</a> and you'll find <a href="http://whocalled.us/lookup/8002669420">all kinds of rants about it</a>. I wouldn't even be blogging about it, except it started happening to a couple of friends the other day, so I thought I'd go ahead a post a little sum-sump'n on how to get them to stop.</p> <p class="heading">Make It Stop!</p> <p>If this is happening to you, first of all, I'm sorry.</p> <p>Fortunately, someone at <a href="http://whocalled.us/">Who Called</a> has done some sleuthing, and they discovered the number at which the company's managers can be reached.</p> <p>When you call, they will answer with &quot;Corporate&quot;, but the name of the company is allegedly &quot;Platinum Rewards&quot;. I called and explained my situation, and the manager (Roxanne?) apologized and claimed that a computer glitch had caused the repeated calling and hang-ups. She also blamed it on young, inexperienced employees, but I seriously doubt that this is the case. I've had a lot of spam-type calls over the years, and none of them have hung up on me <strong>AFTER</strong> I've said &quot;Hello? Hello? Oh, god, is this one of those stupid....&quot;</p> <p>The managers all seems quite nice, and if you want them to stop calling you, I recommend just calmly explaining your situation to them. Keep in mind that your information was given to them without your permission. Since I've called, I've been phone spam free.</p> <p>It's hard to know how they get your number. I was initally convinced that VISA had sold them my info, but the manager that I spoke to told me that they received the info from &quot;usage&quot; meaning that a third party, such as a hotel that I had stayed at, had sold them the information.</p> <p>That doesn't mean that I'm not filing a complaint against the company with the BBB of Clearwater, FL.</p> <p>Platinum Rewards <br /> 18586 US-19 N<br /> Clearwater, FL 33764</p> <p>I emailed Ben at Consumerist and he mentioned that <a href="https://www.donotcall.gov/Complain/ComplainCheck.aspx">filing a complaint with the Do Not Call site</a> is also an option, although you have to have been on the list for 31 days before you can file.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/andrea-karim">Andrea Karim</a> of <a href="http://www.wisebread.com/telemarketers-prank-call-me-800-266-9420">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/debit-or-credit-which-one-should-you-choose-at-the-checkout">Debit Or Credit? Which One Should You Choose At The Checkout?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/secrets-of-telemarketing-from-an-industry-insider">Secrets of Telemarketing From an Industry Insider</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-will-the-new-credit-card-rules-affect-consumers">How will the new credit card rules affect consumers?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/unsolicited-phone-calls-how-you-could-unwittingly-change-the-world">Unsolicited Phone Calls: How You Could Unwittingly Change the World</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-brands-with-the-best-warranties">6 Brands With the Best Warranties</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Consumer Affairs 800-266-9420 8002669420 automated call credit card Do Not Call list phone spam rewards telemarketing VISA Fri, 16 Mar 2007 22:23:36 +0000 Andrea Karim 361 at http://www.wisebread.com