Online Credit Card Processing Services

  Online Credit Card Processing Services  - 5 major drawbacks of bad credit credit card  - May 7, 2007  

With a bad credit and less than perfect credit history, getting a credit card with competitive features is not that easy. In this article we take a look at the 5 major drawbacks that come with a bad credit credit card.

1. High APR

With a bad credit credit card the interest rates are reasonably higher. Forget those 0% intro APRs- they rarely come with a bad credit credit card. So, keep your credit card balances low, to stop this high APR from burning a hole in your pocket.

2. One time processing fee

Some credit card companies charge a processing fee for people with bad credit who apply for credit card. This is generally charged by credit card companies due to the credit checks, other formalities and risk involved in providing a credit card to bad credit people. If you are going for a secured bad credit credit card then this fees can be waived, otherwise it has to be paid. The catch here is that credit card companies demand upfront payment of processing fee. But, a wise credit card consumer will find a credit card company which charges the fees to the credit card not demands cash in advance.

3. High annual fee

Keeping the bad credit credit card is definitely going to cost a lot in terms of annual fees depending on the credit report it can go in hundreds of dollars per annum. Bad credit credit cards with 0 annual fees offer is very difficult to find.

4. High late payment fee

Late payment with a bad credit credit card is severely penalized. The credit card companies charge heavy late payment penalties on repayment default and are very quick in reporting the default to credit rating agencies with a bad credit credit card.

5. Lower credit limits

Since, the credit card companies face increased risk in providing credit card to bad credit people, therefore the credit limits are lower. The credit limits can be increased with secured bad credit credit card and proper repayment of credit card balances.

These 5 factors related with bad credit credit cards increase the cost of owning one. Comparing various credit card offers, especially, when you have a bad credit will help you lower the interest and fees burden of a bad credit credit card.

  Online Credit Card Processing Services  - American DreamCardTM: Convert your everyday spending into large monthly cash jackpot  - May 23, 2007  

Imagine receiving a free lottery ticket every time you spend $1.00 on your everyday purchases. Imagine no more! With the American DreamCardTM MasterCard®, you earn entries from everyday spending to win the large monthly American DreamCardTM cash jackpot!

The American DreamCardTM MasterCard® offers a 0% introductory rate for 5 months with a generous credit line and no annual fee, so it costs you nothing to carry. With every net $1.00 spent on your card, receive an entry to win the large monthly American DreamCardTM cash jackpot

Summary of American DreamCardTM features

Large monthly cash jackpots!
Every $1 in net retail purchases = 1 entry to win (up to 1,000 entries per purchase) -OR - Earn entries from everyday shopping!
Get 1,000 entries just for applying!
Entries are good for future drawings and there is no limit to how many times you can win
Refer your friends and automatically receive 50 entries for each referral and get a signing bonus of 1,000 entries for each referral who is approved for the American DreamCardTM
American DreamCardTM holders also have access to MasterCard® Exclusive OnlineTM
No annual fee
0% APR on purchases for the first 5 months†
Grace period for purchases: at least 20 days
Minimum finance charge: $2.00
No transaction fee for purchases
Transaction fee for cash advances: $5 for each cash advance of $100 or less from any Automated Teller Machine (ATM), transfer or convenience check; for cash advances (listed above) greater than $100 and all other cash advance transactions, $15 or 4%, whichever is higher
Balance transfer fee: N/A
Late payment fees: $39
Over the limit fees: $39
Credit line up to $25,000.00
APR: See website for additional APR information


Other important terms associated with the American DreamCardTM

Sweepstakes open to legal US residents, 18 years or older. Void where prohibited.
With the American DreamCardTM your Purchase or Cash Advance APRs will automatically be adjusted to their respective Penalty APRs if the required minimum payment is not credited to your Account before the first day of the billing cycle that starts after the "Pay By" date on your statement 2 times in any rolling 6-month period.

The American DreamCardTM MasterCard® is issued by HSBC Card Services. Its affiliates, HSBC Card Services Inc. and/or HSBC Card Services (II), Inc., provide administrative and processing services for the credit card. The Sweepstakes is sponsored by HSBC Card Services, Inc.

The Sweepstakes begins at 12:00:01AM ET on 10/01/06. The Sweepstakes ends, and all entries expire at 11:59:59 PM ET on 09/30/07.
†See terms and conditions for important rate, fee and other cost information, and limitations. Visit www.americandreamcard.com for Official Sweepstakes Rules, including details, limitation and alternate methods of entry.


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