SBI ties up with Western Union for international cash to a/c transfers

Jul 20, 2010 Posted Under: Credit Cards Info

Western Union, the global payment services company has joined hands with the largest lender of the country, State Bank of India in order to facilitate international direct cash to accounttransfers.

The scheme would be coming into operation from next year.

According to the release, Indians residing abroad and all SBI account holders will be able to transfer cash on international level from Western Union to SBI’s online facilitated accounts.

As per the tie up customers will be able to send money from any location out of the 3,70,000ones of Western Union into the online SBI accounts.

“Providing a new way of transacting means consumers receiving the money will have 24×7 access to their money, whether that is through online banking and ATMs or bank branches during business hours,” Western Union India’s Regional Vice-President, Kiran Shetty, said.

Out of the 110 million account holders of SBI globally, 4.16 million are registered for online banking facility.

 

3 Top Retail Credit Cards

Jul 18, 2010 Posted Under: Credit Cards Info

Retail credit cards are not known for their advantages over traditional credit cards. They often come with low limits, excessive fees or high interest rates. However, some retail credit cards stand out among the rest for their notable perks and features.

It’s never advisable to open a retail card account just to enjoy a one-time discount at the register because of the long-term effects that card could have on your credit. That said, if you’re a frequent shopper at one of the following stores that makes our top three, the corresponding card may be a good option for you.

Sears MasterCard

One of the biggest advantages of this retail credit card is the co-branding. It is both a retail card and a MasterCard, which means you aren’t limited to where you can use it. Additionally, it helps you save money on all of your purchases, not just when the cashier offers you a discount if you open one.

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National Trust cards are the way to a prettier England

Jul 15, 2010 Posted Under: Credit Cards Info

There are many ways in which the National Trust maintain their lands and buildings, and a lot of it will come from memberships, entrance fees and gifts.  However there is another way that the National Trust are gaining considerable support lately, and it’s through the new credit cards…

You can get credit cards for almsot any charity, and the National Trust is no less worthy than any one of those others.  If keeping your country’s heritage and natural beauty is an important consideration in your life then the National Trust thank you dearly and recommend that you do your shopping with the National Trust credit card.

When you do your grocery shopping with the credit card, everything you spend will be calculated at the end and a total of it will be sent to the National Trust to do with as they please (hopefully to maintain the heritage of England).

So if your environment and the future of England’s heritage are at the top of your list then you need to support them with a credit card.  Your children may thank you for being so ecological  when they grow and inherit the earth.

States Fight Credit Card Fee Hikes

Jul 14, 2010 Posted Under: Credit Cards Info

While most lawmakers have been in support of regulations likecredit card reform that protect consumers,some states have become unlikely allies to banks when it comes to the idea of raising credit card fees.

Treasurers from at least eight stateswant to sendletters to lawmakers over concerns that proposed limits on the fees that card issuers charge businesses for processing purchases could endanger state programs that use prepaid cards pay out benefits like unemployment insurance. The senate passed an amendment to financial regulation recently asking for the limit to help avoid fees from being passed to consumers. (Washington Post)

How to Budget Credit Card Repayments

Jul 13, 2010 Posted Under: Credit Cards Info

Having a credit card can be extremely advantageous, especially one with a high credit limit and low interest rates. Many young cardholders get so excited about their new found purchasing power that they go on shopping sprees, take vacations, and eat at the nicest restaurants, all the while looking forward to making a minimal repayment at the end of the month.

However, there is a downside to credit card usage, and it begins with the moment the statement arrives in the mail. Making credit card repayments on time each month is absolutely crucial towards an individual’s credit history. While it may seem simple at first glance, there are many factors to consider when budgeting for credit card repayments.

Payment Due Dates

It is very important to pay attention to payment due dates, and arrange all repayments a week in advance to avoid any unnecessary late payments. Late payment fees account for the majority of the penalties in the credit card industry. I

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Wyndham Rewards Visa

Jul 11, 2010 Posted Under: Credit Cards Info

Get ready to earn free hotel nights faster with the Wyndham Rewards loyalty program. For its more than 6,500 participating hotels, Wyndham Rewards and Barclaycard US have introduced the new “Wyndham Rewards Visa” card with accelerated reward-earning power. The two versions of the card offers you a choice of either no annual fee with generous rewards or a low annual fee card with even greater earning potential. The no-fee card gives you the opportunity to earn three points for every $1 spent on stays at Wyndham Rewards participating hotels and two points for every $1 spent everywhere else. You will receive 12,000 bonus points upon first usage — enough for up to two free nights at select participating hotels. Meanwhile, the premium card allows you to earn five points for every $1 spent on stays at Wyndham Rewards participating hotels and two points for every $1 spent everywhere else. You will receive 18,000 bonus points upon first usage — enough for up to three free nights at select participating hotels.

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Americans Reject Consumer Debit Amendment

Jul 9, 2010 Posted Under: Credit Cards Info

Visa recently conducted a survey that looked at how consumers felt about a new amendment in Wall Street reform that would allow some of the fees associated with processing debit cards to be passed from retailers to consumers.

According to the survey, an overwhelming 83 percent of respondents were opposed to the amendment’s requirement that debit cardholders would likely pay fees for owning and using their debit cards if the government was to establish the prices retailers pay for accepting the cards. Because of the strong opposition, it is likely that the amendment will not make it into the final version of the bill. (Market Watch)

Baggage Fees And Credit Cards

Jul 9, 2010 Posted Under: Credit Cards Info

I hate baggage fees.   I hate fees in general, but I especially hate paying for something that has been free for almost all of my life.   That is why I bothered to read this article on “7 Smart Ways To Bypass Baggage Fees” at MSNBC.    I was sorely disappointed by the article and what they left out.

Credit Cards Are One Of The Keys To Eliminating Baggage Fees

I wrote earlier this year that reward cards are evolving from “points to perks”.     I mentioned that both Continental and Delta are offering to waive baggage fees for holders of their branded credit cards from Chase and Amex respectively.   Unfortunately, the MSNBC article lists all sorts of ideas from the obvious to the pointless, yet fails to mention these credit card perks.    One of their incredibly obvious suggestions is to join a frequent flier program to obtain elite status.   I am sorry, but if you fly enough that you would have made elite status (more than 25,000 flown miles in a calendar year), and you didn’t bother to join the frequent flier program, you are probably someone who retired long before the invention of frequent flier programs.     There is little chance you are using a computer to read MSNBC if you are one of those people.

The most pointless advice is to ship your luggage, as they admit that it costs more and takes longer than checking your bags.   While they don’t mention it, this would only seem to make sense to someone who is unable to carry their bags.    Another pointless piece of advice they offer is to spend $495 on a 7 pound “lightweight” suitcase.   Apparently, the travel geniuses at MSNBC has never heard of a dufflebag, which is cheap and weighs about a pound.

I am reminded of an article that I had written some time ago on my personal website about Smart Tips vs. Stupid Tips. I just had no idea that MSNBC w

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