card member services

Card Member
Services for a full range of Credit Cards and the financial services
available to the card holder.

To
compete for your business banks and other financial institutions have
recognised that different people use financial services for different
reasons. Some save, some borrow, some invest and some do it all.

GETTING
THE BEST CREDIT CARD DEAL:

Fees,
charges and benefits vary among credit card issuers. When you're
choosing a credit card, shop around. Compare these important features
and decide which is most important to your financial position:

Annual
Percentage Rate (APR):

The
APR is a measure of the cost of credit, expressed as a yearly interest
rate. Check out the "periodic rate," to. That's the rate the
issuer applies to your outstanding balance to figure the finance
charge for each billing period. For example, if you have an
outstanding balance of $2,000, with 18.5% interest and a low minimum
monthly payment, it would take over 11 years to pay off the debt and
cost you an additional $1,934 just for interest, which almost doubles
the total cost of your original purchase.

Grace
Period:

This
is the time between the date of a purchase and the date interest
starts being charged on that purchase. If your card has a standard
grace period you have an opportunity to avoid finance charges by
paying your current balance in full. Some issuers allow a grace period
for new purchases even if you do not pay your balance in full every
month. If there is no grace period, the issuer imposes a finance
charge from the date you use your card or from the date each
transaction is posted to your account.

Annual
Fees:

Many
credit card issuers charge an annual fee for granting you credit,
typically $15 to $55. Some issuers charge no annual fee.

Transaction
Fees and Other Charges:

Some
issuers charge a fee if you use the card to get a cash advance, if you
fail to make a payment on time, or if you exceed your credit limit.
Some may charge a flat fee every month whether you use the card or
not.

Customer
Service:

Many
issuers have 24-hour toll-free telephone numbers.

Other
Benefits:

Issuers
may offer additional benefits, some with a cost, such as: insurance,
credit card protection, discounts, rebates, and special merchandise
offers. Issuers
may offer additional benefits, some with a cost, such as: insurance,
credit card protection, discounts, rebates, and special merchandise
offers.

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Sensible
Security Steps

Once you get a
card, sign it immediately so no one else can use it. Read the
accompanying information, it will be important , such as customer
service telephone numbers, in case your card is lost or stolen.
You should file this information in a safe place.
You may need to
call the card issuer to activate your card. Many issuers
require this step to minimize fraud and to give you additional
information.
Keep your account
information to yourself. Never give out your credit card number or
expiration date over the phone unless you know who you're dealing
with. A criminal can use this information to steal money from you,
or even assume your credit identity.
Keep copies of
sales slips and compare charges when your bill arrives. Promptly
report in writing any questionable charges to the card issuer.
Don't lend your
card to anyone, even to a friend. Your credit privilege and
history are too precious to risk.

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YOU
ARE RESPONSIBLE!!:

While a credit card makes it easy to buy something
now and pay for it later, you can lose track of how much you've spent
by the time the bill arrives if you're not careful. And if you don't
pay your bill in full, you'll probably have to pay finance charges on
the unpaid balance. What's more, if you continue to charge while
carrying an outstanding balance, your debt can snowball. Before you
know it, your minimum payment is only covering the interest. If you
start having trouble repaying the debt, you could tarnish your credit
report. And that can have a sizable impact on your life. A negative
report can make it more difficult to finance a car or home, get
insurance, and even get a job.

Federal
Protections

Federal law offers the following protections when you use credit
cards.

Errors
on Your Bill:

You must notify the card issuer in writing within 60 days after the
first bill containing the error was mailed to you. In your letter,
include: your name; account number; the type, date, and amount of the
error; and the reason why you believe the bill contains an error. In
return, the card issuer must investigate the problem and either
correct the error or explain to you why the bill is correct. This must
occur within two billing cycles and not later than 90 days after the
issuer receives your billing error notice. You do not have to pay the
amount in question during the investigation.

Unauthorized
Charges:

If your credit card is used without your authorization, you can be
held liable for up to $50 per card. If you report the loss of a card
before it is used, the card issuer cannot hold you responsible for any
unauthorized charges. If a thief uses your card before you report it
missing, the most you will owe for unauthorized charges is $50. You
should be prompt in reporting the loss or theft of your card to limit
your liability.