Credit

The PIN is NOT stored on the card. When a card is inserted an ATM, the machine reads the magnetic strip, which contains details of the account number, bank sort code and account holder's name. The ATM connects to the relevant bank's computer over a secure data line, and retrieves the correct PIN for the card. this is matched to the PIN the user enters on the keypad. If they match, the transaction is processed. If they don't - the user is asked to re-enter the PIN.

Not really

You can go to a Pay day loan store but that is enormously expensive and foolish

You can get a low limit Credit card from your bank to start. As long as you make your payments the bank will increase your limit every 6 month or so if you ask. That will look good on a credit report.

Having a large down payment helps if buying a car or similar item on credit. The Lender looks at that and sees equity in the purchase if you stop making payments.

Finally having a good credit rating makes things easier.

Even though I havent used credit to purchase anything in years my bank sends me offers to raise my credit limit on my credit line or lend me long term money all the time. This makes it way too easy to over spend. So I don't

They can if they take you to court for non-payment ! The debt is yours - therefore the court can order part of your wages to be paid directly to the card company until your debt is paid off ! If that happens, there's nothing you can do to stop it - apart from quitting your job ! (Which would be stupid !)

They can - if a court orders that any savings you have is to be used to pay off your debts !

The first place one can find about tips about credit and debt management is speaking to the firms that they are in debt with. They may be able to let you negotiate a better settlement. Failing that, other debt management companies maybe be able to consolidate your debt into one payment. Other sources include books about debt management, forums and blogs form people who have been in similar situations.

Credit ratings determine both the interest rate and rather financial institutions will loan you money

APR stands for Annual Percentage Rate. It's the amount of interest you pay each year on the outstanding balance.

All credit card companies charge a fee for late payments ! It serves two purposes... first - it's a subtle reminder to the card-holder, to prompt you to make the payment in plenty of time for it to be processed. Second - it generates extra income for the card company !

The benefit is being able to purchase something you can't afford.

I will go ahead and add this though, since other people will likely comment on it: most of the time, if you can't afford to purchase something without putting it on a credit card, you should evaluate whether or not you should really purchase the item. Credit cards are great for unexpected expenses like car repair, but most people simply use them to purchase things they don't really need and can't afford, and that is what generally causes financial problems.

Yes, you can give your partner permission, and your personal identification number, to use your bank card, but you should be certain that your partner can be trusted, and will not wind up robbing you.

Yes. Almost all credit cards carry the Visa sign. ASDA (along with a great may other retailers) accepts Visa cards for payment of goods and services.

Loyalty card numbers can be in any format - since they are not usually meant to be used in any other store than the one that issued it.

Your credit card is linked to the currency of the country where your account is held. However - if you make purchases overseas, the currency will be converted at the prevailing exchange rate when the transaction is processed.

The two main advantages are (1) You don't need to carry a lot of cash, and (2) The retailer gets paid for the goods immediately.

Provided it's used sensibly - a credit card gives a consumer the freedom to buy items they need without having to amass savings in advance. The disadvantage, of course - is that you have to pay interest on the outstanding balance each month - but that's because you're paying for the 'convenience'.

Only through your parents can you get one. A credit card is basically a loan from a bank that you pay back with interest. This means you sign a contract with the bank and you can't legally do that until you are 18 and an adult. A minor can't sign contracts.

"I thought I had settled and finished my problems. But the banks still were refusing me loans. I got in touch with Credit Sudhaar( see the related link ) Now, with Credit Sudhaar bad marks are really gone, my scores are up, and I was just told that my credit health is rock solid.

Probably by the card number. Card numbers are often allocated in 'blocks' - starting with the same digits - for example - all AMEX card numbers might start 4757. Additionally - there might be small print embedded in the card telling any vendor it's not a bank debit card.

No - a debit card and a credit card are two entirely different methods of payment. With a credit card, any purchases are immediately paid for by the card issuer to the retailer (assuming you're within your credit limit) - and the issuer charges you monthly interest on the outstanding balance until the account is paid off. With a debit card, you can only make purchases if you already have the money in your account.

British Home Stores - BHS credit card starts with 63191......