Everywhere and everything: November 30, 2008

2008-12-06

Advantages and Disadvantages For Internet Banking

Advantages and Disadvantages For Internet Banking

If you belong to the generation that feeds on technology then Internet banking shouldn't at all be an issue for you. The Internet for you is the place to get things done quickly without actually going out. Banking is one of these things. For those who are a bit older, the concept of not interfacing with a human inside the bank will be a bitter pill to swallow. They still are yet to be convinced so it is necessary to weigh the advantages and disadvantages for Internet banking.

Apprehensive people know about the many wonders of the Internet and they have heard so much about Internet banking but they are still paying their bills by mail and depositing checks at their branch.

Many people are already using the Internet to shop for items, or even financial packages for mortgages and loans but when it's time to finalize, they still opt to go to the office of the company they chose and seal things with an agent.

Before comparing the advantages and disadvantages for Internet banking, let us first define the concept so others who do not know yet can have an idea.

The What and Who in online banking

When the Internet started to become very popular and computers began to become more and more advanced, many businesses started to shift their attention to the trend and established their online presence. This same trend also started to reshape the banking industry.

In the past, banks used computers to automate their daily transactions. These days, there hardly is any paper work at all since everything is done online via the bank's network system. The only thing that serves as a transaction record is the receipt a shopper gets when she's at the POS of her favorite boutique.

For banks, their Internet presence is a value-added service for existing and new customers.

Online banking goes by so many other names like PC banking, home banking, electronic banking, or Internet banking.

The first ones to test the waters were the large national banks. Soon, regional banks, smaller banks, financial companies, and credit unions joined in and implemented their own electronic banking system based on the Internet. These institutions that have expanded to online have since then referred to as brick-to-click banks as opposed to brick-and-mortar banks. The latter refers to those, which are yet to offer online banking o their customers.

Aside from the brick-to-clicks, there are "virtual" banks that have emerged. These are banks that do not have physical offices or branches, and any tellers or agents. These banks exist only in cyberspace but they still are covered by the same federal regulations that cover the ordinary banks.

Nowadays, the large banks have sites that provide fully secured and fully functioning online banking services that give their customers ultimate convenience. The smaller ones which are a bit more cautious to go full circle offer access to limited banking services like viewing of account balance and history viewing only.

The more banks that go online and succeed in making their services secured, the more that people will have lesser doubts about the advantages and disadvantages for Internet banking.

From:http://www.articlesbase.com/finance-articles/advantages-and-disadvantages-for-internet-banking-554273.html

2008-12-05

Analyzing the Forex Market With Tools

The foreign exchange market is used for buying and selling currencies. Naturally with so many currencies in one market, there is bound to be confusion. Tools are the devices that are used to analyze the market which makes the buying and selling of the currencies an easy process. These tools are generally software packages that help to make the trade easier.

While trading at the FOREX, the current market rates are not enough to make a wise decision. The trader would want to know about the performance of the currency in the past, as well as the political and economic conditions in that country which could affect the prevailing prices. Tools provide all these information. The software packages present on brokers?? websites are the most important tools as they can provide up-to-the-minute updated information.

Knowing about the current scenario about the currency in question will help the trader to assess whether the currency will rise or fall in the future. A wise trader could make a tidy profit just by entering and exiting at the right time and thus making proper use of the fluctuations of the currencies.

Trading at the FOREX could be either restrictive or speculative. Restrictive trading is that which is affected by the changes in the political or the economic conditions of the country. It is a more direct approach of trading, which can be used by amateur traders also. But in speculative trading, decisions are made on the basis of what the investor feels about the fluctuation of the currency in the future. It takes into account the current events and decides how the market will be influenced by those in the future. Hence speculative trading is a more difficult type of trading, and one that is best used by professional traders.

Even among analyses of the market, there are two types ?C fundamental and technical. The fundamental analysis depends on the current situations of the market such as the political conditions, economic policies, trade patterns, interest rates and unemployment rates. Technical analysis works on a broader spectrum. It takes into consideration all the historical changes that have taken place over time and how they have influenced the currencies. With tools, both these kinds of information are available. Brokers would provide real time news updates at streaming rates for their customers. A more sophisticated tool is the Risk Probability Calculator which helps to find out trades which have better potentials in comparison with others. Such calculators can also indicate when exiting the trade would make the best sense.

When the trader has this information at hand, they will be able to make a proper decision as to which currency will be the best investment going by current standards. Hence tools help to minimize the risks and maximize the profits.

Along with all the tools, pivot points must be given a special mention. These are the average of the high, low and closing prices of the currencies. Tools that use pivot point calculators can tell when the prices would fall in the normal trading range, and when they would go in the extreme trading ranges. Similarly, pip value calculators can help to determine the smallest value of the pip in different sized lots. Pip calculators can also let the trader know what the profit or loss would be for the specific rise or fall of the currency in the FOREX.

Tools are generally made available to the traders by the brokers with whom they sign up. Access to the tools is through a login and password that the broker would provide. Common inputs are the amount of trade and the amount that can be risked. After putting in these values, the tool would automatically calculate a value for the stop loss order. If the trader decides to go ahead with a particular trade, then confirmation is required. The quoted price can be frozen to prevent any slippage. Once the rate is accepted, the deal is underway.

Like the stop loss rate, the take profit rate can also be decided by the tool. This allows the sale of a currency when it reaches a specified level. A trader can choose not to use these orders and go ahead with the sale according to their own discretions of mind.

From:http://www.articlesbase.com/finance-articles/analyzing-the-forex-market-with-tools-246649.html

2008-12-04

5 Things Debt Settlement Companies Are Not Telling You

Credit Card Debt

Credit card debt relief is a burgeoning business and credit card debt relief companies are throwing a lifeline for those battling with insurmountable credit card debts. You may do your own credit card debt settlement if you have the time and energy to do all the planning and the credit card debt negotiation. If not, get a professional to do the grunt work.

Getting professional help from a credit card debt relief company may cost, but you no longer have to worry about haggling and negotiating with credit card companies. A credit card debt settlement expert does the job effectively since their company has a working relationship with credit card companies and has insider information on the industry's trade secrets.

What You Should Know

But before you eagerly knock on the doors of credit card debt relief companies, know what you are putting up with because not all credit card debt settlement companies are going to reveal their dirty secrets. Here are the shocking truths:

You will pay hundreds of dollars to set up an account and a monthly fee. Where does the money go? Not to your creditors. Your money goes to a trust fund put up by the credit card debt relief agency while your credit payment is put on hold.

Nothing goes to the payment of your credit card debts until the fourth month. All along, you will be depositing money the bank to pay off your credit card debts in one big lump sum and at the same time pay a monthly fee to the debt settlement company!

The credit card debt relief group will not stop the companies from leveling interest rates on your existing credit account. Imagine how much interest rates can accrue until you have "saved" enough money to pay your debts. You will be worse off than before.

You can still be sued by credit card companies because while the credit card debt negotiation is on, interests rates will continue to accrue, and some companies won't be waiting three years to see your money.

If you opt out of the credit card debt negotiation program, you will not be getting back the sign up fee or administrative fee; that is money down the drain already.

When signing up with a credit card debt relief program, do not hesitate to check the company's record with the Better Business Bureau. Question the credit card debt relief company upfront and if you suspect you are not getting clear answers, back off.

Questions to Ask

To protect yourself against fraudulent credit card debt relief practices, ask the right question. These examples may guide you:

Ask the credit card debt relief company if during the negotiations, the credit card companies will immediately stop charging interests on your account.

Ask how long the creditors are willing to wait and calculate your monthly payments to the trust account. You will get an idea how much is pocketed by the credit debt card relief company.

When it comes to selecting a credit card debt relief company, be alert to the things they will not tell you.

A Guide to Basic Loan Terms

2008-12-03

0 Interest on Balance Transfers

Have you ever heard someone preach the benefits of a 0% interest balance transfer credit card? There are numerous different types of 0% interest balance transfer credit cards to choose from, each offering its own unique benefits. Because there are so many different types of 0% interest balance transfer credit card options out there, it would be wise to visit a credit card comparison website where you can get all of the most important information on each of the 0% interest balance transfer credit card options available to you. Here are some of the things that you need to pay attention to when choosing or considering a 0% interest balance transfer credit card:

- The 0% interest rate is temporary, based on an introductory offer. Find out how long the introductory offer will last.

- Your 0% interest balance transfer credit card will not always be 0% interest. Find out what the APR will become when the introductory offer has ended.

- Your 0% interest balance transfer credit card may offer free balance transfers, but this may also end when the introductory offer expires. Find out what the balance transfer interest rate is once the introductory offer has ended.

You can benefit from 0% interest balance transfer credit card options in the long run if you know how to treat the money in these credit cards. The value in a 0% interest balance transfer credit card lies in the fact that you will not have to pay any interest on the money that you use for a set period of time. With free balance transfers during this period of time, what that means is that you can use the money on a 0% interest balance transfer credit card to pay off older debts, then pay off the 0% interest balance transfer credit card before the real APR kicks in after the introductory offer has expired. This is an excellent way to pare down your debt significantly, as long as you are careful to pay the credit card back before the real APR kicks in down the line.

Credit card issuers often offer unique deals and special interest rates as "teasers" to talk consumers in to taking out credit with their companies. One such offer that is readily given to consumers is 0% interest on balance transfers, which is a normal facet of an introductory offer in many of today's credit cards, loans and other financial instruments. Before you jump on the bandwagon, taking advantage of teaser rates and introductory offers because they sound so great, it is important that you come to understand what it means to have 0% interest on balance transfers, as well as how long it will last and what will happen once the 0% interest on balance transfers wears off.

The first thing to understand is what 0% interest on balance transfers means. Balance transfers are when you take your credit card balance, and transfer a portion of it into another account. For example, if you have another credit card and the payment is due, you can transfer a portion of your new credit card's balance to the older card to pay it off. Normally there is a percentage fee associated with this action, but during an introductory offer, it is common for 0% interest on balance transfers to be offered. What this means is that rather than charging you an interest rate such as 3% on all balance transfers, you are offered 0% interest on balance transfers instead.

After the introductory period ends, however, the credit card will suddenly revert back to its original 3% interest rate. If you are caught with a balance at this point, you have to pay that interest rate. In some circumstances, the regular interest rate or APR can also shoot up, and if your account is empty because you transferred all of the balance away, then you can suddenly find yourself paying enormous interest rates without having intended to.

The truth about 0% interest on balance transfers is simple: This is an excellent way to take advantage of transferring balances from one card to another, but only if you utilize it wisely. If you do not have the money management skills necessary to take on a new credit card with teaser rates and introductory offers attached to it, don't do it.

0 Balance Transfer Credit Card Are They Worth It

It's a plastic ocean out there with numerous banks and financial institutions scrambling to sell you their 0 balance transfer credit card. And there are so many kinds of credit cards available in the market that a credit card user gets intimidated and perplexed about which card to choose.

The result is that he often chooses the wrong card and then regrets his decision when he's already neck deep in problems with his credit card account.

So, never pick up a 0 balance transfer credit card without considering some crucial factors. Here is a small guide that can help you decide which type of credit card you must pocket.

Guidelines to choosing a credit card

Ask yourself, "Why do I need a new credit card?" Is it because your current credit card carries a higher rate of interest, or is it because you want to use it exclusively for your business, or is there any other reason? Zero in on the reason why you need a new credit card.

Once you have the reason, you must check out what kinds of credit cards are available in the market. Here is a brief dossier:

(i) Regular cards/Business cards are cards that give you a spending limit based on your income tax papers. The business card is just like a regular card, except that it comes with some schemes that dangle carrots before you.

(ii) Charge cards are cards that are linked to your bank account and they charge your account the minute you swipe the card. You cannot carry forward a balance with a charge card.

(iii) Reward cards are credit cards that earn you points every time you swipe them and such points are redeemable for some goodies (air tickets, supermarket goodies, etc.) at selected establishments.

(iv) Then there are cards for people who have a bad credit history. These cards carry a low spending limit and a higher rate of interest. (v) Prepaid cards are another type of credit card that are mostly used by teens and some kids too. The parent makes a deposit and the card is valid until the deposit is used up.

(vi) Secured credit cards require that the cardholder deposit a certain percentage of the credit limit upfront into their bank accounts.

Once you have decided what kind of a credit card is right for you, do a comparison between different brands of cards. Compare their rates of interest (APR = Annual Percentage Rate) and also check whether they carry an annual fee.

What grace period or no-payment period they offer you, how do they calculate the interest, whether the rate of interest is an introductory rate, whether rates of interest will vary on cash withdrawals, billing cycles, penalties on balance transfers, and so on.

Voila, there you are! If you follow these basic guidelines, you will be successful in pocketing the right 0 balance transfer credit card that suits your needs. And that is the easy part,the difficult part lies in maintaining a credit card and keeping your credit history clean.

But, that's another story!

2008-12-01

John Beck's Teleseminars | Tax Liens | Tax Foreclosures, Tax Foreclosure Events, Tax Foreclosures Property

The term “Tax Foreclosures” is a legal procedure or process that is expected to occur if a buyer defaults on a loan or the taxes applicable on the property, which he lends for mortgage. The lender or lending institution takes back the hold of the property because of irresponsibility of the borrower in paying off dues and applicable taxes or loan applied on mortgaged property for whatsoever reasons. Therefore it is in the best interest of the borrower to pay off all the dues and applicable taxes prior to agreed period of time so as to make sure that no legal action, such as auction of his/her property in public, is taken against him/her. The most notable thing for a borrower is to that he/she must keep all the documents with him/her meeting all the terms and conditions to avoid any Tax Foreclosures in dealing with other parties in future.

Tax foreclosure property procedures are different in every state. Many states follow an easy and simple tax foreclosure, whereby you only have to appeal the county court or maybe through processes of applications to obtain the deed to the property. Mean while, in other states, to go through the tax foreclosure property, you will have to spend most of your time in dealing with an attorney, which will consume lot of your time and waste your money.

In the United States, there are two sorts of property foreclosure in most common law states. Using a "deed in lieu of foreclosure," the bank claims the title and possession of the property back in full satisfaction of a debt, usually on contract. In the proceeding simply known as foreclosure (or, perhaps, distinguished as "judicial foreclosure"), the property is exposed to auction by the county sheriff or some other officer of the court.

Other states have adopted non-judicial foreclosure procedures, in which the mortgagee, or more commonly the mortgagee's attorney or designated agent, gives the debtor a notice of default and the mortgagee's intent to sell the immovable property in a form prescribed by state statute. This type of property foreclosure is commonly referred to as "statutory" or "non-judicial" foreclosure.

The schedules for auctions of the tax foreclosures properties can be obtain by approaching the office of the Clerk of the District of the area in which the mortgager owns the property. However information on such listings can also be obtained from the courthouse

2008-11-30

5 Ways To Instantly Increase Your Credit Card Limit

A lot of credit card holders aspire for a higher credit card limit.

But: credit card holders need to remember that to get a higher credit card limit, they must abide by the terms and conditions of the credit card company or their bank.

Here are 5 ways to get a higher credit card limit:

1. Prove your credit worthiness
The most important thing to do for getting a higher credit card limit is to prove your credit worthiness. This is the first thing that banks and companies look for when giving a higher credit limit.

2. Attract positive attention from the credit card company
At least: try to attract positive attention by paying finance charges once in a while. Obviously, this is not advisable on a repeating basis and should only be used as a last resort to increase your chances of getting a higher credit limit.

Proving to credit card companies and banks that you are good "borrower" can be a convincing way to get a higher credit limit. But be careful because this strategy also means that you will be paying finance charges which can accumulate in a hurry.

3. Always spend within your credit card limit
Doing so means that you are capable of controlling your expenses.

4. Use your credit cards regularly
Don't keep your cards for emergency use only. If you use your credit cards sparingly, banks and credit card companies will be unable to understand your spending and pay-back behavior. Under these circumstances, most banks and credit card companies will be reluctant to give you a higher credit card limit.

5. Avoid late payments as much as possible
This technique will not only increase your payment increase, but you may also have to pay an additional fine for not clearing bills on time. This will also dim your chances of getting a higher credit card limit.

The bottom line is that your performance in the records of banks and credit card companies will determine whether you'll get a higher credit card limit or not.