November 2017 – Credit POC

Defaulters Of Loans Or Credit Cards From Banks Beware Of Cibil

Posted on November 28, 2017 by blogger

Credit card and personal loan defaulters will find it more difficult to evade credit collection officers in future.

Banks can now track defaulters who have absconded or skipped payment through information currently being provided by Credit Information Bureau of India Ltd. (Cibil). Whenever a defaulting borrower applies for a fresh loan with any bank his credit history can be accessed by on e mail.

It was near impossible till very recent times to trace a customer in event of change of address unless communicated to the lending bank. Now due to the central database maintained by Cibil containing amongst others data about date of birth and PAN number etc they can be located and identified.

While there is a controversy about sharing such data & services to lending banks being an infringement on privacy the same seems to be well purview of the CIBIL act as confirmed by MD. Arun Thukral.

Surprisingly there have been cases in the past where two branches of the same bank have given loans to the same borrower due to unavailability of real time credit history of the customer. Sharing of database maintained by Cibil amongst lending banks will be a remedy to this unwanted problem.

Customers too would now be able to access their Cibil report by making online payment to Cibil who would mail the report to the address on its record. According to Mr. Thukral Cibil is also offering its analytical tools to banks to facilitate their decisions on credit worthiness of loan applicants by allotting credit score based on existing and past relationship across all products by participating banks.

The Reserve Bank of India had declared new guidelines which will disallow any bank to treat a customer as a defaulter if they have negotiated the amount payable against his account and paid the amount to the banks providing such credit cards or loans. Credit Information Bureau Of India Limited is the central repository of all consumers credit history across all banks formed in Jan. 2001.

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Quick Bad Credit Loans Get Bucks Urgently Against Credit Look Into

Posted on November 25, 2017 by blogger

The load of less than perfect credit is really unbearable because people fail to get the assistance of finance from the people all around. People get the details of credit of the borrowers. If credit is good, the further step is taken or else there is no way out. Therefore, the less than ideal credit holders have to confront the loads of unseen problems because of poor credit tags. But the poor credit history does not mean that the less than perfect credit possessors are not able to procure the last minute funds. Such applicants are also left with one option that is into the existence in the finance market. From the loan market, such applicants are able to get the urgent loan amount before their next payday via relying on the prompt service of quick bad credit loans that are only for the short period of time. Less than perfect credit holders are able to fill up the loan application form after being fully satisfied with the entire terms and conditions of the loans. Thus, the miserable applicants are able to go ahead for performing the entire formalities in spite of having poor credit scores that are such as; late payment, defaults, arrears, CCJs (Country Court Judgments), IVA (Individual Voluntary Arrangements), amount outstanding and so forth.

The borrowers do not have to take any kind of tension regarding procuring the urgent loan amount because they can blindly have the trust on the lender of Quick Bad Credit Loans. These loans are superlative help of finance for the permanent job-holders, who at times, have to face some unseen problems in the middle of the month. During such bad time, the borrowers are able to get the urgent loan amount in the range of 80 to 750 or more than that. Hence, cash in on the procured amount for the solution of the entire bills and debts at once.

The applicants need to pay back the procured amount within the short time settlement of 2 weeks to 4 weeks after doing away with the entire unseen fiscal crises. These problems are such as; paying hospital bills, electricity bill, phone bill, making payments towards credit card dues, water supply bill, grocery bill, loan installments, educational purposes and sudden tour expenses, school fees of the children and so on. Thus, the borrowers are able to make the most of the presence of quick bad credit loans that have been framed up for the short period of time.

Kotak Platinum Card Kotak League Platinum Credit Card

Posted on November 18, 2017 by blogger

Exclusive dining benefits, lost or stolen fraud cover, priority attention, savings on Taj restaurants and bars, priority pass membership, life time free skin consultation theres lot more than you can think and get out of Kotak Platinum Card.

Kotak League Platinum Card offers the benefits which are at par/better than any other Platinum Credit Cards being offered by various credit card companies. Meant for the people who lead a exclusive life and habitual of moving on the grand lawns, the League Platinum Credit card offers the benefits exclusive for its league credit card members.

With Kotak League Platinum Credit Card, enjoy the benefits of savings on Taj restaurants and bars, complimentary membership to golf Golf free card, priority pass to privileged access to 500 International airport lounges worldwide and that too AT NO EXTRA COST and exclusive lifetime Kaya Skin consultancy. Also enjoy the benefits of time to time offers which kotak credit cards keep on coming with, year by year.

For those who believe in getting the best out of life and know how to live their money, Kotak League Platinum Credit Card offers the best deal. It is one of the best Platinum Cards in terms of added advantages, cash back returns, value added services and priority services. With Kotak Platinum Credit Card you have the best deals in your hand to encash at your ease. With the best merchandise in your hand, you have the elite power of credit in your hand which you can utilize at your ease, at any time. So, go take the lead and grasp the transcendent power in your hand.

Kotak has launched its Platinum Credit Card in all the major cities of India like Ahmedabad, Bangalore, Chandigardh, Chennai, Coimbatore, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai, Navi Mumbai and Pune. It can be easily applied for online. Once applied online, Kotak Bank comes to you to get the formalities done.

You can also call the Toll Free numbers of Kotak Credit Cards:
1800 116022 (North India)
1800 226022 (Rest of India)

The Advantages Of Credit Card Merchant Processing Service

Posted on November 14, 2017 by blogger

Establishing a merchant account can generate more customers for a business owner. Credit card processing and merchant accounts enable businesses to accept credit cards and increase their revenue. For businesses that operate online, credit card merchant processing is mandatory to ensure customer activity. You can set up a card merchant processing account in only a few steps.

Credit cards offer a convenient way for people to pay for purchases. Most people have a credit card or debit card. If you do not offer customers the option to pay with a credit or debit card, you will certainly lose a lot of potential sales. There are many people who do not carry cash or checks, and they will not buy from a merchant that does not offer credit card payment option. Without the option to use a credit card for purchase, they will shop somewhere else. The right credit card merchant processing company will be able to help you set up credit card processing and merchant accounts.

The credit card merchant processing system generally requires an Internet setup. The system needs to be connected to a server that processes information and verifies that the credit card is valid. Accepting a credit card payment is simple, but it requires the correct setup. There are many payment processors out there that help businesses get set up with the system they need. These card merchant processing companies handle the various aspects of processing credit cards for businesses.

It is important to keep in mind that there are various fees that come with having a credit card merchant processing account. Generally, this type of account comes with setup fees, transaction fees, maintenance fees, and early termination fees. Make sure you review the various offers you find before you decide on the best one for you. All payment processors do not offer the same features and type of contract. You should pay close attention to these factors as you search for the right company for your needs. Read the contract carefully, make sure you understand what it contains and then accept it if you are satisfied with the terms and conditions of service.

Accepting credit cards is obviously essential for a business that wants to prosper. It is crucial that you have every possible payment option for your customers. Taking credit cards from customers ensures that you are not losing any potential income. Additionally, accepting credit cards allows you to conduct business in more credible manner and your customers will trust you more.

If you want to grow your business and achieve success, you simply cannot lose customers. All you need to do is choose a reliable payment processing company, get set up with the right credit card merchant processing system for your business and start accepting cards from customers.

Who Regulates Credit Reporting Agencies In Canada And The Us

Posted on November 8, 2017 by blogger

In Canada Consumer Reporting Agencies are regulated provincially. In Ontario Consumer Reporting Agencies must comply with the Consumer Reporting Act. The Consumer Reporting Agencies are regulated by and the Consumer Reporting Act is administered by the Ministry of Consumer Services.

The Consumer Reporting Act clearly sets out the laws as it is related to how and for how long the Consumer Reporting Agency can report information about a Consumers credit report. You can view the Consumer Reporting Act at the Ministries website.

In Canada there are two primary Credit Reporting Agencies, Equifax and Trans Union. In the US there are three; Equifax, Trans Union and Experian.

In the US the Federal Government is forming a consumer protection agency that amongst other things will regulate Credit Reporting Agencies.

If you have a dispute over something that is being reported to your credit report here is what you should do:
“-Request a copy of your credit report from ALL of the Credit Reporting Agencies (in many cases they will provide it to you free if there is a dispute).
“-Write to the credit reporting agency indicating what is reporting improperly and provide any evidence you have to support your claim.
“-If the issue is a name, address or date is reporting misspelled, the Credit Reporting Agency can often resolve the issue at this point.

If the issue relates to information that is being reported by a creditor, correcting it could be difficult. Usually the Credit Reporting Agency will write to the creditor, making them aware of your concern and ask them to reply. If the creditor stands by their position the Credit Reporting Agency could become difficult to deal with. If you are unable to make any headway with the Credit Reporting Agency, you don’t have to give up yet.

Research online to find out what regulation exists in your state or province and consider pursuing a complaint. In Ontario for example the Ministry of Consumer Services is quite effective at intervening in matters where a consumer has a valid dispute. In many cases you can even file your complaint online.

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