Personal Finance guide

Well, there are cards that give you free cash, but it is usually only around 1% cash back. However, free money is free money, right? Well, sometimes.

If you like to buy a lot of things in one month, this kind of credit card probably sounds great to you. However, you need to keep in mind that they are not going to give you cash back on every purchase that you make. Even if they claim to give you cash back on every purchase, they will only give you up to a certain amount per transaction. The company also has a strict limit on the amount that they will give back to their customers. If you read the little, bitty print on the form that you signed, you will see a paragraph with their limits in the terms and agreements.

Continue reading ‘Learning About Cash Back Credit Cards: Good or Bad Idea?’ »

Credit cards that you get in the UK are not any different from any other credit cards. The credit card companies offer special incentives to get customers like 0% APR for a specific time period, no annual fees, and you may even be able to apply for the credit cards online. Many credit card companies based in the UK do not give their cards to consumers in other countries due to security reasons. However, if you live in the UK, then there are many companies that are sure to let you fill out an application to receive their specific credit card.

There are many companies that encourage you to apply online. They overwhelm you with ads, promising a 60 second approval.

Continue reading ‘Choosing a Credit Card In the UK’ »

If your credit is bad, then it may be a little more difficult to get a credit card than if you have good credit. Do not give up, because there are hundreds of companies out there that offer credit cards for people with bad credit and if you shop around, you will find the credit card that is just right for you.

If you are researching credit cards, the first place that you can get information is the Internet. The Internet has a lot of information about many different credit cards, including their rates, fees, and incentives, so that you can find the best credit card for you.

Continue reading ‘Tips To Apply For A Credit Card’ »

Ten Reasons why you should open a saving account in Australian Banks

Saving is an important factor by which we can enjoy great benefits in our problem days. Natural disasters and family problems can come any time so we must be ready to face them by making some savings. It is difficult to save money these days after allocating & budgeting for important items like transportation, housing, and food but it is very important to save money, even a small amount, as the benefits are multiple. A bank saving account in Australia is a very important financial tool which is providing lots of facilities to people with all time saving benefits. I want to save money but why should I open a saving account? It is a natural question which comes to every savers mind; let’s check ten reasons why you should open a saving account!

Saving in Secure Accounts

Australian Banks provide different choices in saving accounts like online saving accounts, simple saving accounts with different rates and choice of withdrawals (with and without withdrawals). People can choose according to their suitable rates, everything is a secured saving option.

Free and No minimum balance

Many Australian banks are providing saving accounts to its customers without any fee and with no minimum balance required. You can open saving account with any amount you want to save and deposit.

Australian Government’s Guarantee

Federal govt. of Australia announced a complete guarantee for all deposits in Australian owned banks including saving accounts. There is no fear for account holders due to any international economic problem.

Continue reading ‘Ten Reasons why you should open a saving account in Australian Banks’ »

On one occassion, I checked my account balance at the ATM and it showed a positive amount of over $200. We went on our trip, ate at a restaurant and purchased a few other items the same day. I was shocked when we got back to see 5 overdraft fees at $33.00 each posted on our account. When I contacted BOA and told them I had a bank receipt showing my account in the positive before we made the transactions, they told me I had some transactions ‘pending’ that had not yet been posted to my account and therefore did not show up when I went to the ATM. Yet they still insisted that my account balance at the ATM was ‘realtime.’ This was what they had advertised, and of course, what I believed. How can they advertise that their online and atm balances are up to date if there are still transactions on hold? We also would not have been hit with so many fees if they had posted them by the time of day and not the amount! The bank continues to allow use of the ATM card to make purchases even if there is a negative balance. It would be easy enough for them to decline payment if a card with a negative balance is presented, but thier excuse for this is that it is a ‘courtesy’ to their customers. Hogwash! It’s so they can wrack up more service fees – their bread and butter. We’ve been customers of BOA for over 10 years and have NEVER had this problem before.

Recently, we got hit with 5 overdraft fees because they posted the transactions, not at the time they were presented, but based on the transaction amount – higher to lower. The ‘best’ part though is that we deposited enough money to cover all the transactions the same day. I of course contacted them through their mail system online (which is the only way to contact them via the Internet) and they refused to refund the fees because we had deposited the check AFTER the transactions had presented. Can you believe it?

Continue reading ‘Bank of Americas Bread and Butter’ »

Apart from the stock market crash and the severing of international credit lines to Nigerian banks, analysts still maintain that the nation is yet to feel a stint of the global financial meltdown. But one part of Nigeria that is definitely been affected by this financial meltdown is the federal government income as its revenue generation capacity has been greatly diminished due to falling oil prices – a fall out of reduced demand for crude. For a country that sold a barrel of crude for $140 a few months ago and now desperately seeking buyers at $45 thereabout, the global financial crisis couldn’t be closer.

The issues that this raises however, is far of greater importance than how much we sell or make from a barrel of oil. It has exposed the inability of successive governments in Nigeria to diversify the Nigerian economy, a once vibrant agricultural economy, from the mono-product, oil dependent economy that it currently is.

Currently, Nigeria generates 80% of its revenue from oil exports and about 90% of its foreign exchange putting the country always at the mercy of crude oil price fluctuations. As the Nigerian economy again cycles down with falling oil prices, the need for the creation of more options for the economy comes to the fore with the government in need of more revenue, more employment for its people and better infrastructure.

Reviving the real sector of the economy, especially the manufacturing sector which serves as the industrial base of the economy and encouraging private enterprise remains a ready alternative for any attempt at diversifying the economy beyond oil exporting. Without any statistical backing it is obvious that real sector growth in Nigeria has been on the negative in the last two decades. Large, small and medium sized industries wind up almost daily. New entrants always find it difficult to survive and close doors as quickly as they opened them.

Continue reading ‘The Race for favourable rates’ »

An offshore corporation is that limited liability company that is set up by someone in a country other than his residing country.

There are few rules that need to be followed when one is setting up an offshore corporation. One needs to keep in mind the jurisdiction of the country they are planning to start a corporation in, the company should not get involved with the jurisdiction when they are trading. Even though they get tax rebates, there are few taxes that are minimal and have to be paid. If all this is done then they can have a clear image and a safe business, which will lead to the business going global as well as making good profits, this kind of corporation, gives the businessman a chance to showcase his skills or products in a large market.

The one thing that a businessman who has an offshore company needs to keep in mind is that it can get risky to manage the company so they can have an offshore merchant account, which can be kept anonymous and can be managed by the bank; they also take care of all the assets and provide financial privacy.

It is very important to have a clear account and have fair trade in any country as these days there are so many illegitimate things happening, like credit card frauds, certain people financing for terrorism, tax evasions. When one is trading in another country, one needs to keep in mind that he is representing his country, and he should follow all the rules, which the country where he is trading, have. When they give you the freedom to trade they also expect that they get benefits and fair trade.

There are many countries which allow people to invest in their countries. One can buy mutual funds or other strategy investments.The need for one offshore merchant account is when one is doing business which is risky in nature, as in one requires a continuous flow of money,so there are banks which provide casino merchant accounts, accounts for online businesses, and for telemarketing also.

Continue reading ‘Offshore merchant account: a boon for international business’ »