Bank finance articles and tips

A business that chooses not to accept credit cards as a payment method will lose a large number of sales on a daily basis. Over time, these sales could add up to quite a hefty loss for the business. Furthermore, by not accepting credit cards, you are simply helping your competition to succeed in the business.

Credit cards (as we know them today) were first introduced in 1958 in the USA by the Bank of America. The first outside the USA was the launch of Barclaycard in 1966 by Barclays bank. In 1967 a rival to the Bank of America System called Mastercharge was created and in the UK the Access credit card was first introduced in 1972 by a consortium of the other major UK banks. The Bank of America and Barclaycard payment systems have evolved into the Visa network, whilst Mastercharge and the Access brand have evolved into MasterCard. Any card issued in the UK today will usually include a Visa or MasterCard logo. The exception being cards issued by American Express which can only be used in establishments that accept their cards. There is a fourth smaller network in the USA called Discover....

Improving your credit score starts with knowing exactly what your credit score is right now. So, first step is to obtain a copy of your credit report. This report contains your complete credit history, every financial transaction, what you bought, rented, leased, your loans, and payments to credit cards and utility companies. Everything is laid out showing the amounts, the dates, whom you paid, and, most important, if you paid on time as agreed. The good news is, you are entitled to a free annual credit report from each of the three major credit bureaus and there is only one government site where you can get these free reports. More on that in a minute....

Reward credit cards are of two varieties, personal and business cards, and go with different perks. Cardholders can earn free miles and points that can be exchanged for gift certificates and cards, merchandize, holiday cruises and vacations, and more.

Naturally, the card you choose will depend on your lifestyle. Travel rewards credit cards are featured with airfare discounts and may be an attractive option for frequent travelers. However, if your airfare is already covered by your employer, you may want to look into another type of rewards plan....

No matter what your reasons for declaring bankruptcy - whether you were surprised with a host of unexpected medical bills or you just weren't responsible with those credit cards - having your debts wiped clean means that you can start over again. Sure, bankruptcy may be a black mark on your credit score; but unlike what popular rumors about bankruptcy indicate, it's easy to rebuild your credit score in just a few years rather than a decade....

There is a lot of angst arising from the new debit card fees that some banks will be charging their customers. These fees will be in addition to any existing monthly service fees they are currently paying.

Consumers are becoming more conscious of interest charges and, in an effort to become more financially responsible, many of them have started using debit cards, money from their own bank account, to help stay within their budget and to avoid paying the extortionate interest rates of credit cards.