CREDIT CARDS AND MORE ABOUT IT

In today’s world most of us use credit cards, its plastic money, we can pay all bills using it and it is lighter than cash.

But we should know on every purchase we make using credit card we have to pay it later that to with interest. So make sure not to spend too much as it may end up hurting your monthly budget. So shop in your limits and use this facilities to fullest. You can look up for more details on websites like www.credit-card-universe.net

What are chase credit cards?

Chase credit cards are special type of credit cards that have 3 basic advantages:

• the automatically give an alert about your credit limit, purchases and bills due via email, message, pager etc. and there are no extra charges applied for this service.
• The 2 benefit is it can be easily used for online payments, they are also available online all you got to do is apply for them. You can track your balance, bill everything online.
• we can use this credit cards for paying bills automatically.

But you need to meet certain basic requirements before applying for such a card. So we can say chase credit cards are great.

What you should do after losing your credit card?

As soon as you notice that you card is gone report to the credit card company, for these types of situations companies usually have a hotline no. that you can call any time. There are two acts FCBA, which stands for fair credit billing act and EFTA that stands for that stands for electronic fund transfer act.

In order to lose as less as possible you should let the issuer know of the loss and also inform the police and also inform the card company in written with your info, date of loss. Under the fcba the max liability is $50 for an unauthorized transaction, and if you inform the company before any transaction was made then you will not lose any money.

For debit card Efta states that if you notify the company before a transaction takes place then we do not lose any money, but if before informing a transaction is made then the liability depends on when we notify the company if it is within 2 business days then the liability you are up for is $50, but if inform in more than two business days you are liable for about $500.

Why you should not pay income tax using your credit card?

We all have to pay income taxes, but when the time comes and if you are not saving money for paying it, you might think of paying it via credit card, but you should avoid this, due to the reason that if you pay by your credit card you will be charged an interest between 12 to 21% but if you go for the extension plan provided by the government you pay the tax money in installments at an interest of 7% only that is a lot lesser than the card company. Though the state and federal governments have different interest rates but they are a lot lower than the credit card companies. Also if you are not happy with your current pay back method you can ask for a change by calling the hotline, you will have to produce your income proof to select another plan for paying income tax. This way you can avoid defaulting on your income tax payment.