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A Guide to Bad Credit Credit Cards
Having less than perfect credit can hurt you and your financial future. One way to get yourself
out of the dark hole of credit is by responsibly using a credit card. If you have bad credit and
are looking for a credit card, you may want to stick...
Bad Credit Student Loan - What To Do If You Need One
Are you concerned that bad credit will prevent you from going to
college? While it is true that finding student loans with
excellent interest rates is easier if you have a sterling
credit rating, bad credit student loan aid is possible....
How to score with credit
With a massive £1.3 trillion of personal debt in the UK, obtaining credit and staying financially afloat are daily dilemmas for the British consumer. Many major banks, including Lloyds TSB, have recently declared an increase in the number of...
How Your Credit Rating is Determined
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Maximizing Credit Card Rewards
In their quest to get you to sign up for their credit card, banks and financial institutions are coming up with more and higher incentives to entice you. Frequent flyer miles gave way to gas miles which opened the door for cash rebates and reward...
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Credit Card Processing:Step by Step Processing
Internet credit card processing is done by following a series of
steps to transact the credit card online. The process begins
when the consumer decides to buy something; this is when the
merchant's commerce application prompts the consumer for credit
card merchant service information .This includes general
information with a shipping address usually. This follows with
the consumer entering payment information either into a form
secured by a protocol or into an application, such as Internet
Explorer or Netscape Navigator. With the secured form, the
payment information is protected by Secure Sockets Layer as it
is sent to the merchant. Using the payment software incorporated
in the Web server, the merchant sends the encrypted transaction
to the acquiring processor for authorization. The authorization
is a request to hold funds for purchase. The acquiring processor
either authorizes a certain amount of money or declines the
transaction. An authorization reduces the available credit limit
but does not actually put a charge on the customer's bill or
move money to the merchant. If the transaction is authorized, a
"capture" is the next
step. The capture takes the information
from the successful authorization and charges the authorized
amount of money to the consumer's credit card merchant service.
In line with bank card association rules, the merchant is not
allowed to capture transactions until the ordered goods can be
shipped, so there may be a time lag between the authorization
and the capture .If the consumer cancels the order before it is
captured, a "void" is generated; if the consumer returns goods
after the transaction has been captured, a "credit" is generated.
The final step is to "settle" the transaction between the
merchant and the acquiring processor. Captures and credits
usually accumulate into a "batch" and are settled as a group.
When a batch is submitted, the merchant's payment-enabled Web
server connects with the acquiring processor to finalize the
transactions and transfe the cash to merchant bank account
About the author:
For more information on credit card
processing,please visit http://www.paynetsystems.com<
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