I.Brief details of credit cards issued by orchard bank?

Features of Orchard bank

The customers who are interested in building credit history and receiving benefits due to usage of the credit cards can choose to apply for classic card issued by Orchard bank. During the previous years, many millions of customers have opted to use orchard bank to build better credit history and they were successful.

II. What are the benefits of credit cards issued by orchard bank?

Benefits of orchard bank credit cards

• The customers can manage their information at their fingertips and hence they manage it well.
• The customers receive text messages and emails about any future payments to be made by the customers if the customers enroll for online services.
• Customers have best opportunity to build their credit history because their monthly reports are maintained by credit bureaus.
• Customer service staff makes sure to help their customers to solve their queries.
• This card is accepted at various locations globally which also includes purchases made by the customers through online mode.
• Customers can book tickets using these cards.
• The Credit score of the customers does not get lowered when they get pre qualified to receive card. The customers can rebuild their credit history if they responsibly use their credit cards.
• Customers whose credit scores are below 699 or who do not have existing credit history can apply and build credit history.

III. What are the benefits of maintaining credit card account online?

Benefits of maintaining credit card account online

• Customers enroll the account online and prefer to receive all statements electronically by email this helps the customers to view their statement at any place by simply logging into the system.
• Another benefit received by the customers is to get prompt to pay on time because they receive e-alerts and emails regularly when the payments are due to be paid.
• Some credit card companies give extra reward points to the customers who maintain their account instead of receiving paper statements.

IV. Mention few details of eco smart Master card of orchard bank?

Details of eco smart master card

Eco smart Master Card is considered to be best choice offered by the orchard bank to the customer because this card helps the customers to get back to the environment they live. Earning rewards from this card is comparatively easy and Mother earth is benefited as the management of the transactions are online. The material used to make this credit card is also bio degradable material.

V. Explain the application process and selection process used for Orchard bank?

Application procedure

This bank offers three types of credit cards and also secure card especially to those customers who want to build their credit history. Orchard bank is part of major bank HSBC.

The Orchard bank takes much care in maintaining the confidentiality of the personal information. The company uses 128- bit technology which is socket layer to encrypt the personal information of the customers.

The online process which is used for selection is quiet different .The customers get to know what card they are likely to receive before they actually apply for the card hence they know that they have better chances of getting approved.

VI. Give details of the annual fees charged on these cards?

Annual fees charged on the cards

The Annual fees charged on the cards vary with card type. The fee charged towards unsecured card is around $39 to $58. Sometimes the fees charged to the customers also depend on the credit history of the customers. The annual percentage rate is around 14.10 % to 19.10 and this is also based on the credit history of the customers.

If the customers have bad credit history then they receive secure card. It is similar to the credit cards issued by many banks but the difference is that the customers have to deposit some amount in their card account and hence the rate of interest is low when compared to the cards issued by the other banks.

VII. Give details of fees charged from the customer for balance transfer?

The customers are charged fee when they do balance transfer. The fee charged is nearing to 5 % for balance transfer.

VIII. Give details of secured card and what customer thinks about this card?

Unsecured card

Some customers think even though they qualify for secure card issued by Orchard bank they think it to be rotten deal. The customers have to make around $200 security deposit which is the minimum amount and this deposit is refundable. The advantage is Annual percentage rate is low which around 7.90 % and they charge annual fee around $35. They also receive waiver of fee for the first year.

Some customers think it is a better deal to get a card. If the customers do not qualify for unsecured cards then they can check the terms and conditions of secured cards and if they are willing to agree with the terms and conditions of secured cards, then they can apply for same.

IX. Why is essential to read the terms and conditions while applying for the credit card?

Read terms and conditions

The customers have to read the terms and conditions when they apply for credit card because they should not regret of paying higher fees or interest to the company. Thus it is always better to read all available and updated information on the company website or ask the customer service staff to explain the details of the card, its usage and how they calculate interest, modes of payments which the customers can make and rewards and benefits which the customer is entitled to.

What are the benefits of credit cards issued by target?

Benefits received by the customer

Some of the benefits received by the customers for using target credit card are as follows:

• Customers can make payments at last minute or they can eliminate payments which were missed.
• Customers can save their time by eliminating hassles such as mailing and check writing.
• Customers can keep track of various payments made on Red card.
• Customers can make purchases at different locations at the stores where visa cards are accepted. This facility helps the customer to take charge of their bills. The company has signed partnership deal with company Billeo and they offer customers easy ways to pay their satellite bills, phone bills, utilities bills, cable bills and more.
• If the customer’s purchase is nearing to 5 prescriptions at any pharmacy managed by target, the customers can get 5% off for a day when they do shopping with the target card. The customers also receive rebate of 5% on their existing red card and another 5% is received due to purchase of medications thus customers have more saving.
• Customers can help their favorite schools or neighborhood schools or any elementary school where there kid studies or any k12 schools which are eligible. The company donates around 1% of the purchases made by the customer to these schools by using red card at target.com or at target.
• When the customers use their red card they also get shipment free on the purchase made by the customer. There is no limit as to minimum purchases to be made to receive shipment free and the company does not collect any membership fee also.

II. What are the different ways to pay the target credit card payment?

Different ways to pay for the credit card

There are different ways to pay the target credit card payment and they are as follows:

• Customers can pay their credit card bills by visiting the target stores and pay the amount to the customer service staff and provide the details of their credit card.
• Customers can send money order to the company mentioning their personal details and also credit account details.
• Customers can also pay by issuing cheques to the company. These cheques can be dropped in various drop boxes kept at various stores of the target company.
• Customers can also choose to pay their bills through online. They have to get their details registered with the company and for online payment they have to log in and select payment option and pay the bills.  Thus by using online method the customer saves their time and money by not paying interest if they are able to pay the amount on time at their convenience.

III. Give details how to manage the bills?

Details how to manage the bills

The customers have two ways to manage their bills and they are follows;

Usage of bill directory: Customer should locate their billers and call them or visit their websites and get authorization to make manual payments. Customers can also set up schedule for automatic payment and this facility is provided by some billers.

Bill management online is free: The customers who want to have secure and free service can choose this service. The customer should make a list of personal billers and set payment reminders. The customers should save their user names and password.

IV. Explain the application process for target credit card?

Application procedure

Apply at various stores: Customers can inform any team member present at any checklane that they are interested to apply for the credit card which the company issues to its customers. The process can be explained very quickly and in a simple manner to the customers.

Application through mail: Customers have to log into the company site and download the application. Adobe reader should be installed in the system to read the application when they download the application form. Fill the essential details of the customer and send the application form to the address mentioned in the website. Then the customers must wait for two to four weeks to hear from the company after they have sent their application form.

V. Give details of the annual fees charged on these cards?

Annual fees charged on the cards

The customer’s application is considered for credit card based on their qualification and also on their credit worthiness.

The APR (Annual percentage rate) charged by the company is nearing to 22.90 %. Customers can avoid payment of interest if they pay their total outstanding within the 25 days of billing cycle.

VI. How to check the application status?

Checking application status

The customer can check their application status by entering their application ID and social security number which consists of four digits.

As response the customers do receive mail within two weeks of their submission of their application.

VII. What measures are taken by target to protect customer’s personal information?

Protection of customer’s personal information

The company uses various security measures which comply with the existing federal law. The measures include safeguarding computer, securing files and also building. The company protects by denying unauthorized access.

VIII. What are the different ways which the company adopts to collect personal information?

Collection of personal information by different methods

• When the customer opens an account with the company their personal information is received.

• Customer information is also collected when they pay their bills and give their income information.
• When they use both credit or debit card.
• Company gathers personal information from other sources such as affiliates, credit bureaus or from other companies.

IX. Give various reasons why the personal information of the customer is shared?

Reasons to share personal information

•  For conducting daily business: The personal information is needed to process transactions, Maintenance of accounts, to respond to various court orders, to report to various credit bureaus, and for conduct of legal investigations.
• Marketing: The personal information related to the customers is mostly used by various providers that offer services and products to the customer.
• For the purpose such as  joint marketing with different companies
• For the daily business of affiliates of the company.

I.JC Penney credit card

Details of JCP credit card

JC Penny card is offered by GE bank and it is department store card. This card can be used for purchasing medications at Rite Aid Pharmacies and CVS Pharmacies. This card can also be used by the customer at any outlet or store and for making online purchases by the customer.

Most of the Department store cards are notorious because they are known for high rate of interest. The starting rate of interest applied on the card is nearing to 27 % and if penalty rate included then it will be nearing to 30%. The reason why many applicants who have bad credit score also receive the card is that the company charges high interest for the amount spent by the customer by using card. The benefits are very few when compared to traditional card. The customer has to spend around $250 a month so that they can get discount of $10 on any purchases made. The reward is collected monthly. The sales price and clearance price is not considered while granting reward points. The reward points earned on the card will expire within a month.

II. Benefits of JC penny credit card

The benefits of JC penny credit card are as follows;

• They do not charge any annual fees.
• Individuals who have bad credit history can also apply for the card.
• Cardholders receive information about special promotion.
• Cardholders also receive prior information about all upcoming sales.

III. Application process for JCP credit cards

Procedure to be followed by the applicant for applying for credit card

• The Customer has to make sure that they have enough credit when they apply for store credit card. Most customers have a belief by using the credit card they can build their credit history but sometimes they may not maintain the same credit.  The existing credit score of the customer can be reduced if the customer application is rejected. Thus, it is sometimes difficult to get a credit card when application itself is rejected. Thus, the individuals have to ensure that there is enough credit available when the customers apply for the card.
• The next step is  to browse the JC penny site
• The other step to be followed by the applicant is to click on the link, which appears on the top page as customer service.
• Then the customer has to click on JCP credit card link, which appears on the menu on the left hand side.
• Then finally customer can click on apply now button which appears on the menu page.

IV. Points to be considered by the customer when applying for credit card

Important points for consideration

Once the customer applies for the card the information relating to the applicant could be used by the company for various purposes which include marketing. Thus customers even though they might not be qualified to receive credit card their vital information can be used by the GE bank or their information can be sold to other companies.

• Another disadvantage of the card is that if the customers default even a single payment then GE bank has the right to close the account and when the credit score drops, the company has the right to close the account to prevent the customer from spending additional amount. The customer might think they can afford to pay but still company might think other way round.
• To apply for JC penny card the customers have to send application through mail or can call the company.

 V. History of JC penny credit card

Details of history
JC Penney is owned by the company Eckerd pharmacy from the year 1997 until 2004.Sale happened in the year 2007 and some stores were acquired by Rite aid and CVS Pharmacy. Both CVS and Rite are not into operation of catalog centers but still they do accept credit cards of JC Penney. In 41 states CVS has around 6800 stores and in 31 states Rite Aid has stores nearing to 5000.

The JC penny cards were initially issued in the year 1959 when the stores were mostly located in the individual building of downtown area. During the year 1963 the catalog sales were initially introduced. Since its inception of catalog sales JC penny is known to be anchor in the malls located in suburbans.  The other advantage is the card can be used in different stores.

VI. Payment options of JC penny credit card

JCP credit card payment

The cardholders can visit the stores and pay the bill.  The working hours of the stores vary according to the location of bank.

The customers have to meet the customer service staffs and make payment to the staff for the purchases made on the credit card.

The customers can pay the bill by paying cash, or issuing cheques. The customers have also the option to pay their bill full or only the minimum amount as specified on the card statement.

Payment by mail

The customers receive every month mail from the company and it contains statement details about the purchases made by the customer, outstanding balance, payment made by the customer and minimum amount due. The customer has to detach the payment coupon and mention the amount the customer is paying in the payment coupon and send money order for the same.

Payment using online method

Customer can also make payments by logging into the account by entering their user name and password. If the customer does not have account they can register by clicking on new user id and enter the details such as name, phone number, address and information relating to credit card.

After logging into the account the customer has to select option which says pay bill from the menu. They have to input the amount they are paying and bank details and date when it should be debited from the account.

Then final step is to confirm the payment and then customer should keep a copy for themselves for future records.

I. Benefits of usage of shell oil credit card

Benefits to the customer

The customer incurs less cost on fuel expenditure. The percentage of rebate is nearing to 3% less expenditure. The percentage of rebate depends on the monthly expenditure incurred by the customer for fuel. If the expenditure incurred is more then rebate received is will be high.

Details of the monthly purchases made and rebate received on shell oil credit card payment.

II. Reports which are essential to control cost

Reports are essential to control the cost. The customers can have reports relating to management information about how to monitor and control the fuel expenses. The customers can request for itemized breakouts of costs incurred which include fuel grade, prices paid, non-fuel purchases made and mileage analysis.  Customers can calculate the total cost incurred and amount to be billed to the customer or to company or to the department.

III. Given below are reports which are useful to calculate the total cost of expenditure

• Vehicle report.
• Driver report.
• Discount report.
• Exception report.
• Adjustment report.
• Payment report.
• Report on tax exemption.
• Product report.
• Invoice report.
• Activity report of service station.

III. Various reasons why driver prefer cards issued by the shell company

Given below are reasons why driver prefer cards issued by the shell company

• Drivers are happy with 24-hour service provided at various locations.
• Foods marts can be found at the shell stations.
• Car wash is provided to the customers.
• Cards are accepted at nearing to thousand stations of shell and at locations which include participating jiffy lube.

IV. Types of card issued by the shell company

Different type of cards issued by the shell company

Business cards

• Fleet plus card from shell.
• Fleet credit card from shell.

Credit cards for personal use

• Select member card from shell.
• Drive for five card.

V. Details of purchase authorization given to the customer

Purchase authorization

Customers are granted purchase authorization and they are as follows;

• Fuel only.
• Oil and fuel only.
• Fuel or oil.
• Maintenance only.
• No restrictions.

VI. Details of fees charged by the shell for shell fleet plus card

Details of fee charged

For the initial years the company does not charge any fees. After completion of the first year the accounting fee monthly of $10 is charged if the customer makes monthly purchases and purchases are less then USD 1000 .The customer receives rebate which could be maximum USD 300. It is always better for the customer to read the terms and conditions of the company before using the card.

VII. Frequently asked questions

• How credit limit is fixed?

When the customer applies for the card, the application form is thoroughly reviewed and then the company fixes the limit and this limit is reflected on the monthly statement issued by the company.

• How safe is online application?

The customer need not worry because it is very safe. The encryption technologies applied makes the card more safe and secure.

• Why it is essential to have a social security number?

For establishing the account and for identification purpose social security number is essential.

• Do they charge any fees for maintaining the account online?

No. The shell company does not charge any fee from the customer if they maintain their account online.

• If customer uses online account will they receive paper statement in their mail?

Yes. Even though the customer uses the online account monthly paper statement are sent to the customer.

• Can the customers pay their bills at shell stations?

Yes the customers have the convenience to pay their bills at shell stations located nationwide.

• Do they charge any extra amount for ordering cards to the family members?

No, the company does not charge any extra amount for ordering cards to the immediate family members the customers have to  just call the service center number and request for add on cards for  their family members.

• How does the customer find the shell station nearing to their office or residence?

To locate shell stations nearing to the customer’s office or residence it is easy they have to login and use online locators to find the stations nearing to their place.

• Can the customer use the shell card to receive extra cash?

The customers can receive extra cash by using the shell drive and select member card at various ATM that has located nationwide. The shell fleet does not have access to ATM’s.

• What are the benefits of Account Online?
  By signing up for Account Online, the customers enjoy fast and secure access to their accounts and information can be retrieved any time online.

VIII. Benefits received by the customer by maintaining the account online

Benefit to the customer

The customers can receive various benefits by signing in for online accounts. Some of them are as follows;

• Statements can be reviewed.
• Payments can be scheduled.
• Online payment of bills.
• Updating of accounting profile possible.
• Downloads can be easily made and the customers can download the reports and read it.
• For fleet card exclusively they issue detailed reports monthly which allows the owners to track their driver activities.

IX. Steps taken by the shell company to protect the account

Protection of the account

Citi banks are given responsibility to protect the customer account and personnel information related to the account holder. They have 128-bit encryption and the security level followed by the company is very high.

• Zero liability.
• Early warning of fraud to the customer.
• Identity theft solutions from Citi.
• Specialists for internet security.

TJ Maxx is an American departmental store which keeps its customers as the top priority. Their main aim is to provide satisfaction to the customers. It has approximately nine hundred stores situated all across the country and it plans to expand its services even more. TJ Maxx gives its customers credit cards to help them save some extra cash and shop at the same price. TJ Maxx provides its customers with the option to shop unlimited and be rewarded for spending more money. Due to this, customers tend to shop more, as they know that they will be gifted if they shop for the highest amount. It also provides its customers with gift cards. In many ways, TJ Maxx is similar to the master card, which also allows its customers to win points that can be redeemed later.

How to apply for TJ Maxx Credit card
One can apply for the TJ Maxx credit card by either visiting them or by filling their online application form or even by logging in through their website. The form asks for the customers Personal information along with his income. The customer can get a second card issued also, without paying any extra money. Those who apply for the card can avail a discount of 10% for their first purchase from their store. They are also gifted for every dollar they spend. Customers do not have to give any annual charges.

Additional Benefits Of TJ Maxx credit cards:
Some advantages of using the TJ Maxx credit card are given below:

1.    TJ Maxx does not ask for any sort of yearly fee for providing its services.

2.    TJ Maxx gifts its customers for more money that they spend at their store.

3.    TJ Maxx gives 10% discount to the customer at his/her first purchase.

4.    TJ Maxx gives the facility of making a second card without any extra payment.

Types of TJ Maxx credit cards:
TJ Maxx has the facility of allotting two different types of cards to its members. First, there is a credit card and then second is the gift card. Both cards are used during shopping from this store, and it helps the customers to win surprise gifts and also points. With the help of this card, they also avail special discounts. If the card cash finishes, one can get it re loaded. In this, spending more cash is adding more advantage. This gives the customers a chance to upgrade their cards to silver, gold and platinum levels.

How to make payment of TJ Maxx credit cards:
TJ Maxx credit card payments are always made through online transactions. These payments are to be made through the GE Money Bank. There is no facility to give payments at their store. In order to make payments, one has to go to their official website, and log in their account with the allotted Username and password. Then its very simple to follow instructions and make a payment. On their website, the customers have to locate a link “Manage My Account”, with whose help, they can finish the payment process successfully..

Contact us:
If customers have any sort of problems, complaints or queries, they are free to give a call the TJ Maxx store. They have a Toll Free Facility, with customer executives who are ever ready to answer the queries. For this purpose, one can visit their website and find out the contact information. The store has its headquarters in Framingham and Massachusetts. Customers can visit it if they have any issues or concerns which can not be solved through telephonic calls.

Capital One Financial Corporation is the bank holding firm of the United States majoring in home loans, credit cards, banking, auto loans and the savings products. The company is also the member of fortune 500 and established the marketing of the credit cards in the 1990’s. Capital one is now 4^th leading company among the postal services and also has the 5^th leading deposit portfolio in US.

The corporate offices of the corporation are in the Tysons Corner, Virginia and the unincorporated Fairfax County.

I. Type of Credit Cards:

The company offers the following types of credit cards to their customers:

• Cash rewards- This card offers the 50% money back incentive every year with 1% money back on the purchases. The card also charges 0% annual fee.
• Venture Rewards- This card offers two miles for every dollar spent on purchase with variable APR of 11.9 to 19.9%.
• Platinum Prestige- Saves money with 0% intro APR on every transfer and purchase with 0% APR till December 2012 and after that variable APR of 10.9 to 18.9%.
• Capital One Cash- Incentive of $100 is given on the purchase of $500 for the 3 months with 1% cash back on purchases.
• Business Platinum- APR of 0% on the purchases till June 2012. The card also has the feature of tools to assist build the business. $0 fraud accountability protection in case if card is lost.
• Orbitz Visa Platinum- 3 points are given on the eligible orbitz.com booking. The card doesn’t expire and is transfer for merchandise, travel and gift cards etc.

II.How to apply for a credit card:

The customers can apply for the credit card both at the website of the company as well as manually. They can also go to the office of the company and apply for the credit card by filling the application form and providing the personal details and the ID proof if required.

The online application of the card can be filled by visiting the website of the company and filling the application form by entering the personal details and the social security number.

Individual can also apply for the credit card by calling customer care service at 1-800-955-7070/ for outside US 001-804-934-2001

III.        Payment of Credit card:

Capital one Credit Card Payment can be done in numerous ways. These are:

• Online payment
• By calling the phone banking numbers.
• Manual payment in a company by cash or card

The capital one credit card payment Address is:

Capital One
Attn: Payment Investigations
PO Box 30287
Salt Lake City, UT 84130-0287

IV.Benefits provided to the cardholders:

The company delivers innumerable benefits to the card holders which shop by using their credit cards:-

• No annual fee is charged for the credit card holders
• Card holder is automatically enrolled in the rewards program
• Exclusive passes are given
• Special reward points are given on the high purchase by the customers.
• Coupons and discount given regularly.
• Sometimes free delivery option can be availed
• Card holder can also have online discount facility
• Credit holders are given the early access to the extraordinary sales

V.Contact details:

For any support or queries concerning the Capital One credit card there are helpline numbers given as under:

1-800-955-7070 – Monday to Saturday. From 8a.m. to 9 p.m.

TDD no. 1-800-206-7986

Card holder can also contact the company’s official website http://www.capitalone.com for any queries.

In recent times, credit card debt is the most common financial obligation. People are incessantly falling into credit card debt due to many reasons like extravagant holidays, low income, medical expenses, renovating houses and credit card fraud. Credit card fraud can racks up overwhelming debt for people that not only affect their financial situation, but also damage their credit score. However, fortunately, people can eliminate their credit card debt either by pursuing credit card settlement or by following a few simple steps. You may find the entire process little time consuming but will help you clear your credit card debt and improve your credit score sooner or later.

A few simple steps to follow:

1. Contact the credit card company as soon as possible:

When it’s time to deal with credit card debt caused by credit card fraud, the most important thing to do is to contact the credit card company and inform them that your card has been used fraudulently and therefore, you will not be accountable to pay for the debt. Take down the phone number of the credit card company from monthly bank statements or the card itself, and contact the company. The company will freeze the account immediately so that you do not incur any further debt.

2. Lodge a Complaint with the police:

After informing to your credit card company, you must file a complaint with the police. Explain in detail how much debt you have incurred and what type of fraudulent activity has caused this. Keep a copy of police complaint with you as a proof that you have been a victim of credit card fraud and thus, will not take the responsibility for paying off the debt. This will speed up the process of debt elimination from your account.

3. Contact the Credit Bureaus:

Then contact the three main credit bureaus like TransUnion, Experian, and Equifax, and request them to put a fraud alert on your report. Once the credit bureaus put up the alert specifying that you have been a victim of fraudulent activity, your credit report will likely improve and the debt will be eliminated soon.

4. Evaluate the credit report:

The next step should be to contact the credit bureaus and ask them to send a copy of the credit report. Go through the report and determine if there is any erroneous information on it. If you find that the fraudulent accounts are still there, contact the bureau and dispute on it. This will put a hold on your account, start investigation, and accelerate the process of debt elimination.

5. Contact the credit card company again:

Now when you have gathered all the necessary proofs and documents, you must contact the card issuer again. Ask them why the credit report is still reporting about the fraudulent debts to the bureau. If necessary, present the copy of police complaint, application of the credit dispute, and the copy of complaint you made initially with the company. Request them to provide you with a written assurance that the company will no longer report about the fraudulent debts to the credit reports.

6. Deal with collection agencies:

If you are being harassed by the creditors for debt collection that do not even owe to them, contact the agent and ask them to send you the proof of the debt. Besides this, to make the case stronger, you should also send them the copies of police complaint and other documents that you collected as part of the process.

In conclusion, if are under knee-deep fraudulent credit card debt, follow the above mentioned steps to come out of it. These steps will not only help you waive off the credit card debt, but will also help you refurbish the credit report.

I. Credit card and payment calculator

Payment calculator credit card

Customers can use the payment calculator of credit card and find out what is the minimum amount they have to pay for the credit card company for the usage of the card for paying for various services availed and purchase made. The customers can use available loan calculators to find out how much amount the customer needs to pay to clear the credit card balance.

The calculator credit card needs balances such as credit card balance, current balance of the credit card and annual percentage rate applied on the credit card balance and the transaction fees (if any) charged by the credit card company. Thus if the customer has all this information they can input available information in credit card calculator and it will help customer to know how much amount they have to pay to the credit card company.

II. Calculation of the credit card payment

Details of the variables of payment calculator credit card are as follows;

Credit card balance outstanding: This balance is also known as previous balance, which is carried forward by the customer in their accounts. If the customer chooses to pay the full amount then the credit card balance would reflect as zero. If the customer does not pay the whole amount then the customer has to enter the amount, which is still outstanding.

Annual percentage rate: This is rate charged on the outstanding balance of the customer. Credit card Company’s mention about APR charged on the statement issued every month or some times, they mention about APR in terms and conditions while issuing the credit card.

Transaction fees:  This fee is nominal fee that is charged by the credit card company for carrying the balance outstanding on the credit card. This range of fees can be around $0.5 to $5.00 and to find the fee the customers can be checked in terms and conditions mentioned in the documents when they issue credit card.

OCC Recommendation:   During the year 2003, the Comptroller office has given recommendations and the Credit Card Company should make changes in the payment formula and thus it allows the customer to pay some part of the outstanding balance. This recommendation was accepted by all credit card issuing companies. The formula applied is very simple. The minimum payment is calculated by using the Apr + transaction fees +Credit card balance outstanding +1% x Credit card outstanding balance. Few companies such as bank of America, Citibank, wells Fargo and MBNA companies adopted the method of OCC for calculating the minimum payment.

JP Morgan chase: Formula used to calculate the credit card payment by JP Morgan is higher then the recommendation given by the OCC and it is nearly 2% of the balance of credit card.

Capital one Financial:  The formula used to calculate the minimum monthly amount to be paid for credit card by capital one company is more than 3 % or around $15.00

I. Types of credit card issued by the Citi bank

Details of the types of credit card issued by the citi bank

• Premier card issued –citi thank you.
• Gold card from citi bank credit card.
• Executive card from citi bank.
• Secure master card.
• Citi diamond for preferred customers.
• Simplicity card from citi.
• Forward card from citi.
• World master card citi dividend.

II. Citi bank credit card

Details of citi bank credit card

Online payment: The customers who use citi bank credit card usually pay bills online which is simple and easy way to pay the bills by the customer.

Rewards: The citi bank customers can make some saving because the cardholder receives rewards whenever they use their card for making purchases or paying for the services availed.

Membership: The customers receive benefits such as free membership to resorts and clubs to the holder of the card and to their immediate family members.

Travel benefits: The travel benefits are provided to the customer and they are mostly outstanding.

Personalized services: The customer’s life is easy because the credit company provides various services that are personalized.

Credit history: Another advantage to the customer it becomes easy to build credit history by using credit card. Thus when the customer wants to have any future borrowing the customer does not have to struggle much for getting loan. Many companies’s are ready to give loan to those customers who have good credit history. Thus, future borrowing is easy to all customers who are having good credit history. One best thing about credit card is it helps to build credit history. When credit history is good, the future borrowing becomes easy.

III. Application process of issuing credit card

Application process

Interested customer can apply for a credit card by log into the citi bank website and chose the option apply credit card. The customer has to fill the application by providing all essential information, which is required by the credit company. Some times the executive give a call to the prospective customer who have earning and are eligible to receive the credit card. If the customer gives the appointment, the executive meets, the customer explains the terms and conditions to issue the credit card and if the customer is satisfied with terms and conditions, they can apply for the same by attaching the necessary documents. The credit company receives the document and if satisfied issues credit card to the customer.

IV. How to make Citi card online payment

Online payment

Customers who want the payment to be made online can log into the company website, select the option credit card, and then click on other option payment menu. Then the customer receives two options first option specifies the option for citi bank account holder and another option available to those who do not have Citi bank account. Customers who have account with citi bank can directly make a transfer pay the credit card bill others choose other option and pay the bills.  Thus by paying online the customer authorizes the payment to the credit card bills, the credit card companies receive the payment, and the amount is automatically credited to the credit card and debited to the saving account.

V. Special features of the citi bank credit cards.

Extra features

• Interest charged is low.
• Receives more rewards.
• Balance transfer is possible.
• Annual fees are not charged.

I. What do you understand by card credit payment?

Meaning of card credit payment

Card credit payment means payment made by the customer for using the cash in the card. Many people prefer to use credit card instead of debit card or cash to make payments. The reasons are many. Some of them prefer to use credit card due to great discounts and rewards which are available while purchasing any goods or services using credit cards.

II. What are the different methods used to repay the credit card?

Customer might use various methods to pay the credit card bills according to their convenience. The issuing company does accept various modes of payment to make customer feel comfortable in using the credit rather than using cash or debit card.

Some of the methods followed by the customer to make payment to the credit are as follows:

• Electronics clearing system: Customer can pay the outstanding balance from different bank accounts on or before the due date.
• Online Payment: Customer can pay online by using the services provided by various banking partners of the issuing company.
• Visa Credit card payment:  If customer is holding any visa card they can make payments by using the visa card.
• NEFT: By using different bank account customer can pay credit card payment thru national electronic fund transfer.
• Cash payment in branches: Customer or any one for customer can make payments by directly depositing cash in the banks.
• Use cheque payment bill box: Customer can issue cheque to the credit card company and drop those cheques which are placed in various super markets or malls for the convenience of the customer.
• Use Skypak boxes: Credit card issuing companies have tie up with Skypak Company and customer can drop their cheques in those boxes which will be sorted later and payment will reached to the credit card issuing company.