Best Credit Cards for You!

There was some good news for Business consumers who use Bank of America Merrill Lynch accounts for their travel expenses as the bank announced that they will be making European transactions easier in the coming year.

A pilot program has been declared a success and the subsidiary of Bank of America is now set to roll out Chip and PIN cards to their business customers early in 2012. The chip and PIN system is fast becoming the global standard and is taking the place of the magnetic strip on most credit and debit cards across Europe and the rest of the world. The exposed EMV microchip is inserted into a payment terminal and the consumer is asked to key in a PIN (Personal Identification Number) to verify the transaction.

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Tags: America, America Launch

When should you use your debit card versus credit card? First, what is the difference between them? A debit card is connected to your checking account and is considered cash. A credit card is not connected to your checking account and you pay at a later time.

Debit cards are more convenient to carry than cash. You need to make sure you record everything you spend, so you dont bounce checks and incur fees.  Since debit transactions are taken out of your banking account almost immediately, there is no float period.  If you have a dispute on merchandise, it is much more difficult to negotiate because the merchant has received your money, and debit cards don’t have dispute processes like credit cards.

There are some places you may want to use a credit card instead of a debit card.  I have listed seven below:

Travel   Travel examples are airfare, travel packages and cruises for which you pay in advance for future travel.

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Tags: Card, Debit Card

Crescent Bank & Trust is offering an incredible CD rate special for a 25-month CD term at 1.75% APY. With the regular fluctuations of interest rates these days, snatching up a high-yield CD rate is the best move for your money. In a little over a year, your funds can grow at a pace that help you reach your financial goal faster.

CD Rate Terms and Conditions

To qualify for this CD rate, customers must provide an opening deposit of $5,000. Customers have the option of reinvesting dividends into the CD account, depositing dividends into a Crescent Bank & Trust checking or savings account or receiving dividend payment via check. If dividends are credited to the account, interest is compounded and paid quarterly.

About Crescent Bank & Trust

Crescent Bank & Trust upholds a mission to provide its customers with a noteworthy banking experience each day.

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Tags: Apy, Cd Rate, Crescent Bank

Changes are in store for the way reverse mortgages are processed that might make it more difficult for some borrowers to qualify.

For fees that can amount to as much as 5% of a homes value, reverse mortgages allow people age 62 or older to convert their home equity into cash. The homeowner can elect to receive a lump sum, a line of credit or monthly payments. The loan is due, with interest, when the borrower dies, moves, sells the house or fails to pay property taxes or homeowners insurance.

In the past, the amount a borrower received was determined by his or her age and property value, says Peter Bell, president of the National Reverse Mortgage Lenders Association. But on Oct. 5, the Federal Housing Administration, which insures virtually all reverse mortgages, told lenders that they are also free to consider a borrowers “financial capacity and credit assessment criteria in the origination and approval of” reverse mortgages.

Starting a week ago, MetLife Bank, the largest originator of reverse mortgages, began examining applicants finances.

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Tags: Mortgages, Reverse Mortgages

The main business of MasterCard credit card is processing payments between the banks of purchasers who use credit cards branded with the MasterCard logo and the banks of the merchants who accept those cards for payment. Originally called MasterCharge, this is now a publicly traded corporation.

It was created by several banks in California with a view to competing with the BankAmericard which later became Visa, Inc. The name has changed several times and the original MasterCharge Interbank Card became MasterCard for many years. When the company was taken public in 2006, the name became MasterCard International to reflect the expansion of the brand globally.

Many lending institutions offer their credit cards with the MasterCard logo included. Association with MasterCard provides a much great acceptance of the lender’s credit card worldwide.

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Tags: Card, Credit Card, Mastercard Credit, Mastercard Credit Card