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Credit Cards 101

Credit Card Security?

Yes! You can’t ‘finally’ get the chance to live in a world without credit cards! Let’s make sure you understand all about them.

A credit card is a security measure used to keep any credit accounts from being abused. If the cardholder were to deposit funds into a savings account but then were to spend that money on an unauthorized item, you could immediately be terminated from the account, either for a day or an entire month. So in order to prevent the situation from happening again, majorly implement these security measures.

1. To implement these security measures in a secure manner, have the card company implement software – security ‘, similar to how you’re using a secure email to mail your credit card to customers. Examples of security measures include encryption, timeliness/security code matching, and ‘yes’/’yes’, when an account is opened, it’s encrypted and sent to the lowest level possible in your code.

2. When the security checks on an account, it’ll send an email to each of you that contains a copy of the certificate (Security Information) – This is sent onto the card to which you’re transferring funds from. This can occur anywhere within the web server side of the web. It’s advisable to always get your wallet address to sign any mail you use for a purchase before you sign any documents (security/security certificates, etc.) along the way.

3. When Secure Virtual Private Network (SSL) encryption is used to encrypt the data, all the information is scrambled and sent to an unsecured area where a known random number (RNG) of 1123 and an unknown value (true or 0), are generated. When the encryption has finished, the information in the memory of the card is again scrambled.

The worst thing about credit cards is that you have to pay high up-front fees and activation fees, if you want to receive instant approval (from the banks). Let’s face it: The best things that banks give the best always from a security point of view. With the current fraud epidemic in the internet, there could be many banks and card providers out there that are out there spouting nonsense such as ‘Fraud!!Online Protection

Secured cards were the first secure credit card (after Visa & MasterCard) to run offline. This meant that you didn’t have to worry about it when shopping by phone or online. However, if you log onto an online website then there’s a cost involved (read: massive server compromise) – depending on how safe the website is. The fact that you’re physically there, rather than offline works in this scenario is one of the great advantages of secured cards. Of course, they also made internet transactions much safer, but where are the cards now?

I’m from Hawaii and I used to get instant approval after a few months. Now in over 50% of that community’s credit card terminals (and their terminals are much, much cheaper), offline transactions are as safe (but maybe safer!) as any ATM machine.

Credit Cards 101

Credit cards have become a necessity in everyday life for many people today. The amount of purchases that people made in the US in 2007 was up 13.8%. This means that Americans spent nearly $500 Billion in 2001. If you own a home you should be able to afford an average American home (although today only one in four homes have these same numbers). But, as a parent, you should be able to take steps to building wealth that will protect your children from financial danger.

Credit cards are extremely useful as a means to fund many of many investments that many people nowadays are making in their own homes. They offer extra security and can give your children safety while they will want to learn to use plastic correctly if necessary.

Many people remember that credit cards were great help money management and did give the kids more independence. When they were teenagers, they had their problems with school and home and the cards, once they started using them, gave them the responsibility and freedom to make purchases without mommy pulling them around. With the rise of online shopping, where you can see how much the items you buy are actually in the store, parents and kids have realized that kids are much more responsible money managers than their elders.

However, all of a sudden, the parents is the authority. And their authority declines as they fall behind on their responsibilities. This is what I am going to tell you today.