Who Invented The Magnetic Stripe Card? After World War II, the magnetic storage appeared in 1950. Then in 1969, Forrest Parry, an IBM engineer invented the first magnetic stripe card. This is a kind of card that capable of storing data in a strip composed of iron particles in plastic film. When were magnetic stripe
Why Is My Credit Score Low I Pay Everything On Time? A single payment that is 30 days late or more can send your score plummeting because on-time payments are the biggest factor in your credit score. Worse, late payments stay on your credit report for up to seven years. The impact of a payment
Why Should Be Beware Of Introductory Teaser Rates? Consumers who receive a teaser rate on a new card must be careful to not let the low rate influence them to make poor spending choices. Otherwise, they might find themselves with an unsustainable debt burden that they cannot afford to repay or service once the introductory
Which Situation Would Result In A Credit Card Issuer Charging A Late Payment Fee? With a credit card, you pay later for something you buy. Which situation would result in a credit card issuer charging a late-payment fee? A cardholder fails to make a minimum payment one month. Which situation would result in a credit
Who Really Invented The Credit Card? The idea of credit has been around for a long time. But a Brooklyn banker named John Biggins invented the model of our modern-day credit cards in 1946. It wasn’t until the 1980s that we could earn travel rewards for spending on their credit cards. Who invented the credit
Why Is My APR Higher Than My Interest Rate? Annual percentage rate, or APR, reflects the true cost of borrowing. Mortgage APR includes the interest rate, points and fees charged by the lender. APR is higher than the interest rate because it encompasses all these loan costs. Is it better to have a lower interest
Why Is SSN Important? A Social Security number is important because you need it to get a job, collect Social Security benefits and get some other government services. You should keep your Social Security card in a safe place with your other important papers and avoid giving it out unnecessarily. What is the importance of
Which Is Better Chase Bank Or Wells Fargo? Both banks offer several business checking accounts but Wells Fargo is the clear winner due to its lower monthly fees and higher transaction limits. For example, a large businesses that has up to 500 transactions a month can expect to pay a $40 monthly fee with Wells
What Is The Best Credit Union In The United States? Best overall: Alliant Credit Union (ACU) Best for rewards credit cards: Pentagon Federal Credit Union (PenFed) Best for military members: Navy Federal Credit Union (NFCU) Best for APY: Consumers Credit Union (CCU) Best for low interest credit cards: First Tech Federal Credit Union (FTFCU) What
What Card Can Be Used In Place Of Cash? Prepaid cards, a type of debit card issued by a bank or credit card company, can be used to make purchases, pay bills, or get cash from ATMs. Which cards work like cash but are safer to carry? Like debit cards, prepaid cards work at any