Prajna Capital |
- Know Security risks in using Credit Cards
- Get HIgh Credit Score
- SBI Mutual Fund Extends SMS Transaction
| Know Security risks in using Credit Cards Posted: 02 May 2013 07:10 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
Security risks in using Credit Cards
The credit card is a much maligned and revered instrument occupying space in everyone's wallet. While it has many advantages and disadvantages both depending on how you use it, the security issues of owning and using a credit card need to be taken seriously.
RULE 1: Be careful with your personal information. Don't share details like your official date of birth, mother's maiden name amongst other such information. Don't share your credit card number either. Especially don't reply to phonecalls and emails supposedly from your bank or credit card company asking you to share your personal info.
RULE 2: Get your card swiped for billing in front of you. If you use your card a lot at petrol pumps or you dine out a lot, then preferably scratch out the CVV numbers (last three digits of the number on the reverse of your card). Memorise the CVV number for your transactions or note it down somewhere safe. One of the most common cases of credit card fraud is of petrol pump attendants and restaurant staff using the data on your card along with the CVV number even if they are themselves not indulging in such activities, they can very easily sell such data to fraudsters.
RULE 3: Use the transaction alert facility with your credit card company, so that you are aware the instant your card has been used for any transaction. A fraud can still be committed but you can atleast take corrective action immediately and avoid paying for charges not your own. Keep the credit card company helpline number saved on your phone and call them to check any discrepancy.
RULE 4: In fact you should go through your card statement in great detail the moment you get it and call the card company for any transaction or charges that you don't understand or make. Preferably get online access to your credit card and keep checking it off and on to be sure only activity authorised by you is taking place.
RULE 5: Use only sites that are safe and legitimate, and that have a secure payment gateway that starts with 'https' and not 'http' this ensures that your data is being sent in an encrypted manner and hence is protected. Look for a locked padlock before going ahead with an online transaction. Do not use public computers for online shopping or transactions if in emergencies you have to use computers other than your own, then delete the cache information, don't save passwords and use the screen keyboard to enter your passwords.
RULE 6: A credit card protection plan is an insurance cover against loss, theft and fraud of credit, debit, ATM, membership or loyalty cards. It makes sense, especially if you travel a lot, or need to entertain socially and professionally basically if the usage of your cards is high and by nature you are not very meticulous, careful or cautious.
Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)
Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications
These Application Forms can be used for buying regular mutual funds also
Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
------------------ Best Performing Mutual Funds
|
| Posted: 02 May 2013 03:59 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
Make sure to repay outstanding on your cards, loan EMIs on time CREDIT score, a three-digit number, is a numerical expression based on a statistical analysis of an individual's credit history, to represent the credit worthiness of that person. A credit score is primarily based on credit report information typically sourced from credit bureaus.
Credit health is a state of complete financial well being and not merely the absence of indebtedness.
At this outset, it is important to know how one can improve one's credit score and, thereby, do away with the dejection of not being able to avail of a loan, when it is needed most and also avoid other negative social impacts. It is, therefore, very important to know what determines your credit score.
According to Cibil and other credit institute officials, as high as 35 per cent of your credit score depends on your payment history. How often you miss your payments will have high impact on your credit report. If you don't miss it, it would be good.
Then 30 per cent of your credit score depends on credit utilisation, which means the degree and extent of debt you've already utilised compared with your capacity or the limit set by loan institute. Credit history: Then comes the length of the credit history (which determines 15 per cent of the score). Longer the credit history, more will be the impact. If you have been responsible with your credit over a longer period, it's good for you and vice versa. Credit enquiry: Recent search of credit and types of credit used contribute 10 per cent each to your credit score. Therefore, it makes sense not to enquire for a loan if you don't really need it. More enquiry means desperation for credit, which adversely affects your credit score.
You'll get the fastest improvement in your scores if you show you're responsible with both kinds of credit -revolving-based (credit cards) and instalments-based (personal loans, auto, mortgages and student loans). If you don't already have an instalment loan on your credit reports, consider adding a small personal loan that you can pay back over time. Again, you'll want the loan to be reported to all three credit bureaus. Credit limit: Lenders like to see a big gap between the amount of credit you're using and your available credit limits. Getting your balances below 30 per cent of the credit limit on each card can really help; getting balances below 10 per cent is even better. Mind you, we depend on credit for so many important things in life and, therefore, the need for knowing how to improve one's credit score can hardly be over emphasised.
Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)
Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications
These Application Forms can be used for buying regular mutual funds also
Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
------------------ Best Performing Mutual Funds
|
| SBI Mutual Fund Extends SMS Transaction Posted: 01 May 2013 11:12 PM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
SBI Mutual Fund has extended the SMS Transaction Facility (m-Easy) under the regular as well as direct plans of various equity and debt schemes (total 24 schemes). Investors can avail the facility of purchase, redemption as well as switch through m-Easy by sending SMS to the dedicated number.
Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)
Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications
These Application Forms can be used for buying regular mutual funds also
Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
------------------ Best Performing Mutual Funds
|
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