by Norman L Ellis on March 12, 2010
On February 22, 2010 the new rules of the Credit Card Act of 2009 went into effect. Most of the new regulations are a benefit for users as no longer will the credit card companies be able to increase interest rates on existing balances, modify payment due dates and other doubtful practices that were common in the past. However, consumers need to be especially wary now about additional charges that could concern them because profits are down for the credit card issuers partially due to the latest regulations and also due to the lasting recession that is causing folks to depend more on cash and less on credit.
However, the credit card companies are still in the business to make a profit so there are some considerations that a user needs to be informed of in the near future. A wise consumer needs to be wary of added charges that they may end up paying.
Annual fees are being implemented on many existing credit card accounts. Formerly, annual fees were reserved for high-end reward cards and the majority of consumer credit cards did not have an annual fee. Annual fees are detrimental to the user because they drastically add to the cost of using credit cards, regardless of how much or how often you charge. If your credit card has been hit with an annual fee, you have the opportunity to submit an application for a new card without a fee and canceling the old account, but, a user who takes that option will go through a temporary hit to their credit score.
Be on the lookout for hidden notifications. Under the new rules, the credit card issuers are required to send you notifications of any modifications to your account at least 45 days in advance. However, the notifications could be bundled within your monthly statement or even mailed in an unnoticeable envelope or an envelope that looks like a solicitation. Right now it is crucial to read all communication from your credit card companies very warily.
Credit card issuers are also beginning to charge merchants more for the privilege of allowing their patrons to utilize credit cards. These fees are called interchange fees and when the cost of these fees increases, merchants are often obliged to raise costs in order to protect their own businesses. Higher interchange fees can lead to increased prices for customers.
Under the new regulations college students will not be able to get a credit card unless they can verify the ability to pay or have a co-signor. However, the credit card companies are limiting their risk by reserving the option to keep the co-signor for long after the student turns 21. Co-signors need to be fully conscious of the duration and extent of their responsibility before they sign.
Interest rates can no longer be increased on existing balances however, many credit card companies increased rates prior to the implementation of the credit card act and counterbalanced the increase with consumers by giving interest rate rebates for paying on time or for using the credit card a specified amount every month. A smart user will avoid these artificial savings and pay off their account each month.
The new rules are useful to users because they are giving protection from many of the credit card problems of the past, however, the credit card companies are in the business to make a profit and they will continue to come up with new tactics that will cost the consumer more because they need to protect their profits.
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by John Rohan on March 12, 2010
People all over the internet are looking for online cash. For some, this might mean a few pennies here and there, some pocket money to pay their children’s allowances, perhaps a loaf of bread. For others, this means a real income opportunity. Perhaps you are a freelancer and looking for new clients or opportunities. Or perhaps you are looking for an opportunity that will allow you to work from home and quit your day job. Whatever your motivation, opportunities abound and there really is something for everyone, but you might have to spend a little time to weed through all the redundant information.
One of the challenges that we are presented in this internet age is that the world is indeed truly global. Not only are people in North America and other developing countries looking for opportunities so too are people in not so developed countries. In the competition for online cash, you may well be competing with someone who would indeed work for $1 per day. In some countries, $1 will buy a loaf of bread, a pair of shoes, and maybe even help to pay your rent. For this reason, companies and organizations paying fractions of pennies to click on ads or read emails abound. They spring up and disappear again as fast as they started, sometimes without ever paying out a penny.
While there is a group of people who do generate worthwhile amounts of online cash through these opportunities, they are few and far between, and many of them have been building their opt-in lists for a long time. For a good majority, looking at ads and buying life changing opportunities are just a diversion adding to the boredom of their daily work lives.
Are their genuine internet opportunities out there? Will they lead to you actually firing your job? Given the right opportunity for you this might very well be possible, but you will have to pick your one niche, strategy & plan and stick to it come hell or high water. If for example you are a freelancer who can offer their services online then there is a very realistic opportunity for you to earn online cash and make it a worthwhile source of income. Remember though that in this global marketplace, you are now competing for work with many others some who only need a fraction of what you need to run a successful business. There are also others capitalise on today’s technology to increase their capacity and volume of work produced.
The advantage of the internet is that the world has gotten larger. If you are a freelancer, then so too has your job market or potential client base. While you will be up against fierce competition and may have to bid prolifically to get started, eventually word will get out and you may be able to establish a stable client base, one that pays for quality work and recognizes the true cost of your labour. You will then be able to earn some fairly easy online cash. While you will still be competing for jobs with people from countries with different living standards, eventually things will work out and you will find your niche. Despite the prolixity of information in the information age, somewhere, sometime, you will find the fine line of distinction between quantity and quality, which in the global marketplace becomes the distinction between pennies and dollars, bots and program and real human intervention.
John is a successful & inspirational business man. Operating both online & offline profitable businesses. John’s online strategies has earned him a sizeable fortune 24 hours a day even while he sleeps. A big believer in online automated systematized income John writes on topics relating to internet marketing & his other online businesses. Check out his articles & online club
