Budget,
yes it is very simple you just have to :
Identify your current monthly income and expenses. Put it on a piece of
paper, that's a budget. When you have done that you can contact your
bank or other financial company.
The
budget must be realistic, the staff at the financial company see many
household budgets every week. Don't try to fool them, basicly you only
fool yourself.
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The
Creditcard
A user is issued credit after an account
has been approved by the credit provider, and is given a credit card,
with which the user will be able to make purchases from merchants
accepting that credit card up to a pre-established credit limit.
Often a general bank
issues the credit, but sometimes a captive bank created to issue a
particular brand of credit card, such as chase, wells Fargo or Bank of
America, issues the credit.
When a purchase is made, the credit card
user agrees to pay the card issuer. The cardholder indicates his/her
consent to pay, by signing a receipt
with a record of the card details and indicating the amount to be paid
or by entering a personal identificationnumber (PIN).
Also, many merchants now accept verbal authorizations via telephone and
electronic authorization using the Internet, known as a
'Card/Cardholder Not Present' (CNP) transaction.
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Credit card
issuers usually waive interest charges if the balance is paid in full
each month, but typically will charge full interest on the entire
outstanding balance from the date of each purchase if the total balance
is not paid |
Electronic verification systems allow merchants to verify that the card
is valid and the credit card customer has sufficient credit to cover
the purchase in a few seconds, allowing the verification to happen at
time of purchase. The verification is performed using a creditcard
payment terminal or Point of sale
(POS) system with a communications link to the merchant's acquiring
bank. Data from the card is obtained from a magnetic stripe or chip on
the card; the latter system is in the United Kingdom commonly known as
chip and pin, but is more technically an EMV card.
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