Top Airline Credit Cards

If you fly one airline consistently, these cards can be a very good option. They are not for people who carry a balance, because interest rates tend to be quite high. Rates have risen steadily during the past few years.

Unless you live near a hub airport dominated by one airline, or your company requires you to choose a particular carrier, you might want to avoid these airline cards in favor of bank-based cards that give you more travel and price options.

Please take these recommendations as a starting point for a more personal and in-depth study focused on your individual travel needs. Don't read this as a blanket claim for the best credit card to carry with air miles. These are merely a few selections worth consideration as you begin your research.

British Airways Visa Signature Card

British Airways offers travel options around the world that few others can match. They still offer the very attractive 15,000 bonus miles the first time this card is used, and allow rewards with partners American Airlines and Alaska Airlines. Chase Bank USA is the issuing company. Interest rates have risen in the past year, but they are still a bit lower than many competitors. After a 4.9% five-month introductory APR, they'll charge a 13.99% variable APR for any unpaid balances.

The good news: A large choice of domestic and international flights, and an offer of a second, free companion ticket when you pay full price for the first fare. The bad news: Fairly high annual fee of $75, and only U.S. residents are eligible.

>Fine Print

Northwest Visa

This popular Visa choice is offered through U.S. Bank. They offer both "Signature" and "Platinum" versions, with Signature offering the better options. You'll get 10,000 miles for signing up if you've never before carried the card. Annual fee is $90 Signature and $55 for Platinum. Unlike many cards, this one allows you to earn miles beyond $10,000 USD/month. Past that limit, you get a mile for every $2/month spent. Those limits also kick in when you exceed yearly spending of $50,000 for Platinum or $80,000 for Signature. Northwest offers lots of options in Asia and Europe through its travel partners in those parts of the world. The variable APR for purchases is 18.0%.

The good news: No blackout dates and no mileage cap. The bad news: The annual fees are high. There are 3% fees for overseas transactions and balance transfers. Note: If you do apply, it's worth inquiring at time of application about the possible implications of the proposed Delta-Northwest merger.

>Fine Print

JetBlue Card from American Express

This card, for those who fly mostly within U.S. borders, is set up a little differently from most: You need 100 points to earn a free flight. Each $200 charged gives you one point. That means $20,000 in purchases gets you a round trip ticket on JetBlue. The airline offers 50 points just for opening the account, so the first ticket could only cost $10,000 in purchases. The variable APR for purchases is 14.99%. There is an annual fee of $40.

The good news: Short path to the first free ticket; lower annual fee than many other airline cards. The bad news: JetBlue only flies in the U.S., Caribbean and Bermuda. Other cards allow for more destination options.

>Fine Print

Delta American Express SkyMiles

Delta's extensive network of cities and partners around the world makes anything they offer worth a look. American Express is welcomed in many fine outlets worldwide, but some budget travelers complain it skews upscale--and therefore is not as useful in their daily lives as a Visa card. Delta adds 10,000 SkyMiles after your first purchase for first-timers. The annual fee is waived the first year, and $40 thereafter if you have a qualifying American Express Consumer Charge Card. If not, the annual fee is $95. The APR for purchases is 14.99%. Miles do not expire as long as you do one of the following every two years: takes a qualifying flight on any Delta service; earns Delta miles through one of its program partners; or redeems miles for any Delta miles award. Not available in Iowa or Puerto Rico. You can earn double miles for Delta purchases. Beware: If you get an "options" card, there is no annual fee, but it takes $2 to earn each mile.

The good news: SkyMiles are also accepted on 13 international carriers, including Air France, Air Jamaica and Singapore Airlines. Delta now awards 2,500 bonus miles when you make $10,000 in eligible purchases in a calendar year. The bad news: There is an earning limit of $60,000 of eligible spending per year; annual fee that can hit $95.

>Fine Print

Citi Platinum Select American Airlines AAdvantage World MasterCard

A recent promotion here offered no annual fee the first year and up to 25,000 bonus miles after three milestones are reached: first $750 in purchases in first four months, at least $10,000 in first year and at least $10,000 in second year. This choice combines the resources of a banking empire and one of the North America's largest airlines. One of the few MasterCard choices available (Continental is another). "Platinum Select" carries a 14.99% variable APR. It takes 25,000 miles to earn a free trip. Miles don't expire so long as you do one of the following every 18 months: redeem a flight on American, purchase a ticket outright on American or use the credit card.

The good news: No blackout dates for reward travel and a chance to earn lots of bonus points. The bad news: Starting with year two, you pay an annual fee of $85.

Protecting Your Credit Card Information Online

One of the biggest trends of today's world is shopping online. It is convenient, easy, and saves a great deal of time, not to mention that it, in many cases, saves you a great deal of money at the same time. However, while shopping online is the latest and greatest trend for consumers, hackers and other dishonest people have also turned to online shopping as a way to obtain credit card information for fraudulent use.

You take a risk every time you use your computer and the internet to do your shopping, however, if you know what to do and what to look for, you can take steps to ensure that you do everything possible to protect your credit card information.

Safe and Secure – That's the Ticket

Before you start shopping on ANY website and provide your credit card information, you want to be sure that the website you are shopping with has taken measures to secure your order and payment. There are two specific things you want to look for:

* Encryption Sign
* Secure Website Address



The encryption sign can be found on the bottom of the webpage you are viewing. This typically looks like a padlock. An "open" padlock indicates that the website is not secure. It will not encrypt your credit information when you provide it. A "closed" padlock indicates that the site is using security and encrypts the information you provide. Typically, this is shown on the website page that is asking for this information.

A secure website address is a good way to tell that the information you provide is secure as well. When asked to provide your credit card information look at the website address. https:// indicates a secure website; http:// indicates that the website is not secure.

Check Your Credit Card

It is advisable to make sure you understand the terms and conditions of your card, as well as benefits. Use only cards that protect you and your liability if something were to occur. Some credit cards protect you entirely against credit card fraud while others will have a liability limit.

It is a good idea that you keep track of your credit card statements and your purchases. If you notice things out of place, it is important to contact your credit card company immediately to take action and remedy the situation.

Know Where Your Information Is Going

It is important to read the terms and conditions of use for the website you are shopping from, as well as the privacy policy. The information contained in both of these documents should inform you as to how, when, and where your information is stored, if it is at all. The most important thing in protecting your credit card information is that you trust the website you are conducting online shopping with. Some things to ask yourself include:

* Does their privacy policy protect my information?
* Does the company sell my information to other companies?
* Did I read the fine print and understand it?
* Does the company store my credit card information?
* If so, where is this information stored? An online database, their own business files, or both?
* When filling out credit card payment forms, what information is required?



The security for many online shopping sites has been beefed up. At one time, it was only necessary to provide your credit card number, expiration date, name, and address. Well, it turned out that hackers and scammers had the ability to obtain this information in multiple ways. Now, more and more sites are requiring that you provide the CVC2 code, which is a series of three digits located on the back of the credit card.

Make sure the site you do your online shopping with is secure, safe, and requires the information you deem pertinent to ensure fraudulent activity does not occur on their site.

credit to best blog ever about credit card http://www.creditorweb.com

Guarding credit card information

Guarding credit card information
By Jeremy Simon

Merchants need to be sure they are taking all the necessary precautions to protect their customers' credit card information. Losing your customers' credit card information is an easy way to lose your customers.

The payment industry is attempting to police itself before legislators enact and impose their own regulations. The Payment Card Industry Security Standards Council's Data Security Standard is a group of standards commonly agreed upon by Visa, MasterCard, Discover, American Express and JCB, which must technically be met by any merchant who accepts credit cards.

PCI DDS aims to protect consumer information from identity theft. Merchants who fail to comply with PCI DDS could suffer consequences ranging from loss of the ability to process credit card transactions up to fines of as much as $500,000. Certain types of businesses may require an audit by a PCI DDS certified security auditor.

As for the basics of PCI DDS, information security policies are required to be written down. These policies should be clear to everyone, including employees, and should cover both PCI DDS requirements and the regulations of any states with which you do business.

In order to protect your company's network, be sure to disconnect from the Internet when business is closed. An unattended network connection represents an opening for hackers. Think about whether you always shut down servers, network switches and routers; the more doors you lock, the safer you become.

Additionally, do not put all your data onto a single server, since all your data will be in danger if that server is compromised. Major steps in the direction of meeting current and future compliance regulations include getting an additional server for sensitive data, limiting who has access, encrypting data, and limiting connectivity to the Internet.

Avoid using wireless networks when sensitive information is involved, since outside hackers can access wireless features on a laptop. Also, invest in encryption, so that you will not need to let clients know if you lose a laptop or are the victim of a breach.

Finally, be aware of the danger posed by employees. By limiting and knowing who has access to you system will help you meet the requirements of PCI DDS as well as allowing for regular monitoring to prevent data theft by employees. And, since employee negligence results in the vast majority of all losses, train your employees to protect business assets.

Choosing and Using Credit Cards

Choosing and Using Credit Cards
Chances are you've gotten your share of "pre-approved" credit card offers in the mail, some with low introductory rates and other perks. Many of these solicitations urge you to accept "before the offer expires." Before you accept, shop around to get the best deal.

Credit Card Terms
A credit card is a form of borrowing that often involves charges. Credit terms and conditions affect your overall cost. So it's wise to compare terms and fees before you agree to open a credit or charge card account. The following are some important terms to consider that generally must be disclosed in credit card applications or in solicitations that require no application. You also may want to ask about these terms when you're shopping for a card.


Annual Percentage Rate.
The APR is a measure of the cost of credit, expressed as a yearly rate. It also must be disclosed before you become obligated on the account and on your account statements.

The card issuer also must disclose the "periodic rate" - the rate applied to your outstanding balance to figure the finance charge for each billing period.

Some credit card plans allow the issuer to change your APR when interest rates or other economic indicators - called indexes - change. Because the rate change is linked to the index's performance, these plans are called "variable rate" programs. Rate changes raise or lower the finance charge on your account. If you're considering a variable rate card, the issuer must also provide various information that discloses to you:

that the rate may change; and
how the rate is determined - which index is used and what additional amount, the "margin," is added to determine your new rate.
At the latest, you also must receive information, before you become obligated on the account, about any limitations on how much and how often your rate may change.

Free Period. Also called a "grace period," a free period lets you avoid finance charges by paying your balance in full before the due date. Knowing whether a card gives you a free period is especially important if you plan to pay your account in full each month. Without a free period, the card issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account. If your card includes a free period, the issuer must mail your bill at least 14 days before the due date so you'll have enough time to pay.

Annual Fees.
Most issuers charge annual membership or participation fees. They often range from $25 to $50, sometimes up to $100; "gold" or "platinum" cards often charge up to $75 and sometimes up to several hundred dollars.

Transaction Fees and Other Charges.
A card may include other costs. Some issuers charge a fee if you use the card to get a cash advance, make a late payment, or exceed your credit limit. Some charge a monthly fee whether or not you use the card.

Balance Computation Method for the Finance Charge.
If you don't have a free period, or if you expect to pay for purchases over time, it's important to know what method the issuer uses to calculate your finance charge. This can make a big difference in how much of a finance charge you'll pay - even if the APR and your buying patterns remain relatively constant. See page 4 for examples of how the methods can affect your costs.

Examples of balance computation methods include the following.
Average Daily Balance. This is the most common calculation method. It credits your account from the day payment is received by the issuer. To figure the balance due, the issuer totals the beginning balance for each day in the billing period and subtracts any credits made to your account that day. While new purchases may or may not be added to the balance, depending on your plan, cash advances typically are included. The resulting daily balances are added for the billing cycle. The total is then divided by the number of days in the billing period to get the "average daily balance."

Adjusted Balance. This is usually the most advantageous method for card holders. Your balance is determined by subtracting payments or credits received during the current billing period from the balance at the end of the previous billing period. Purchases made during the billing period aren't included.

This method gives you until the end of the billing cycle to pay a portion of your balance to avoid the interest charges on that amount. Some creditors exclude prior, unpaid finance charges from the previous balance.

Previous Balance. This is the amount you owed at the end of the previous billing period. Payments, credits and new purchases during the current billing period are not included. Some creditors also exclude unpaid finance charges.

Two-cycle Balances. Issuers sometimes use various methods to calculate your balance that make use of your last two month's account activity. Read your agreement carefully to find out if your issuer uses this approach and, if so, what specific two-cycle method is used.

If you don't understand how your balance is calculated, ask your card issuer. An explanation must also appear on your billing statements.

Other Costs and Features
Credit terms vary among issuers. When shopping for a card, think about how you plan to use it. If you expect to pay your bills in full each month, the annual fee and other charges may be more important than the periodic rate and the APR, if there is a grace period for purchases. However, if you use the cash advance feature, many cards do not permit a grace period for the amounts due - even if they have a grace period for purchases. So, it may still be wise to consider the APR and balance computation method. Also, if you plan to pay for purchases over time, the APR and the balance computation method are definitely major considerations.


You'll probably also want to consider if the credit limit is high enough, how widely the card is accepted, and the plan's services and features. For example, you may be interested in "affinity cards" - all-purpose credit cards sponsored by professional organizations, college alumni associations and some members of the travel industry. An affinity card issuer often donates a portion of the annual fees or charges to the sponsoring organization, or qualifies you for free travel or other bonuses.

Special Delinquency Rates. Some cards with low rates for on-time payments apply a very high APR if you are late a certain number of times in any specified time period. These rates sometimes exceed 20 percent. Information about delinquency rates should be disclosed to you in credit card applications or in solicitations that do not require an application.

Receiving a Credit Card
Federal law prohibits issuers from sending you a card you didn't ask for. However, an issuer can send you a renewal or substitute card without your request. Issuers also may send you an application or a solicitation, or ask you by phone if you want a card - and, if you say yes, they may send you one.

Cardholder Protections
Federal law protects your use of credit cards.

Prompt Credit for Payment. An issuer must credit your account the day payment is received. The exceptions are if the payment is not made according to the creditor's requirements, or the delay in crediting your account won't result in a charge.

To help avoid finance charges, follow the issuer's mailing instructions. Payments sent to the wrong address could delay crediting your account for up to five days. If you misplace your payment envelope, look for the payment address on your billing statement or call the issuer.

Refunds of Credit Balances. When you make a return or pay more than the total balance at present, you can keep the credit on your account or write your issuer for a refund - if it's more than a dollar. A refund must be issued within seven business days of receiving your request. If a credit stays on your account for more than six months, the issuer must make a good faith effort to send you a refund.

Errors on Your Bill. Issuers must follow rules for promptly correcting billing errors. You'll get a statement outlining these rules when you open an account and at least once a year. In fact, many issuers include a summary of these rights on your bills.

If you find a mistake on your bill, you can dispute the charge and withhold payment on that amount while the charge is being investigated. The error might be a charge for the wrong amount, for something you didn't accept, or for an item that wasn't delivered as agreed. Of course, you still have to pay any part of the bill that's not in dispute, including finance and other charges.

If you decide to dispute a charge:
Write to the creditor at the address indicated on your statement for "billing inquiries." Include your name, address, account number, and a description of the error.
Send your letter soon. It must reach the creditor within 60 days after the first bill containing the error was mailed to you.
The creditor must acknowledge your complaint in writing within 30 days of receipt, unless the problem has been resolved. At the latest, the dispute must be resolved within two billing cycles, but not more than 90 days.

Unauthorized Charges. If your card is used without your permission, you can be held responsible for up to $50 per card.

If you report the loss before the card is used, you can't be held responsible for any unauthorized charges. If a thief uses your card before you report it missing, the most you'll owe for unauthorized charges is $50.

To minimize your liability, report the loss as soon as possible. Some issuers have 24-hour toll-free telephone numbers to accept emergency information. It's a good idea to follow-up with a letter to the issuer - include your account number, the date you noticed your card missing, and the date you reported the loss.

Disputes about Merchandise or Services. You can dispute charges for unsatisfactory goods or services. To do so, you must:

have made the purchase in your home state or within 100 miles of your current billing address. The charge must be for more than $50. (These limitations don't apply if the seller also is the card issuer or if a special business relationship exists between the seller and the card issuer.) and,
first make a good faith effort to resolve the dispute with the seller. No special procedures are required to do so.
If these conditions don't apply, you may want to consider filing an action in small claims court.

Shopping Tips
Keep these tips in mind when looking for a credit or charge card.

Shop around for the plan that best fits your needs.
Make sure you understand a plan's terms before you accept the card.
Hold on to receipts to reconcile charges when your bill arrives.
Protect your cards and account numbers to prevent unauthorized use. Draw a line through blank spaces on charge slips so the amount can't be changed. Tear up carbons.
Keep a record - in a safe place separate from your cards - of your account numbers, expiration dates and the phone numbers of each issuer to report a loss quickly.
Carry only the cards you think you'll use.

Credit

Credit is the provision of resources (such as granting a loan) by one party to another party where that second party does not immediately pay the first party for the resources in full, thereby generating a debt, and instead arranges either to pay for or to return those resources (or equivalent value) at a later date. The first party is called a creditor, also known as a lender. The second party is called a debtor, also known as a borrower.
Any movement of financial capital is normally quite dependent on credit, which in turn is dependent on the reputation or creditworthiness of the entity which takes responsibility for the funds.
The term credit is used similarly in commercial trade, known as "trade credit", to refer to the approval for delayed payments for purchased goods. Sometimes, credit is not granted to a person who has financial instability or difficulty. Companies frequently offer credit to their customers as part of the terms of a purchase agreement. Organizations that offer credit to their customers frequently employ a credit manager.
Credit is denominated by a unit of account. Unlike money (by a strict definition), credit itself cannot act as a unit of account. However, many forms of credit can readily act as a medium of exchange. As such, various forms of credit are frequently referred to as money and are included in estimates of the money supply.
Credit is also traded in the market. The purest form is the credit default swap market, which is essentially a traded market in credit insurance. A credit default swap represents the price at which two parties exchange this risk — the protection "seller" takes the risk of default of the credit in return for a payment, commonly denoted in basis points (one basis point is 1/100 of a percent) of the notional amount to be referenced, while the protection "buyer" pays this premium and in the case of default of the underlying (a loan, bond or other receivable), delivers this receivable to the protection seller and receives from the seller the par amount (that is, is made whole).