Common Credit Cards Mistakes to Avoid

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Plastic cards are very common today. Many people make payment for purchases online and even in the bricks and mortar shops with them. But despite its popularity, the truth is that a lot of people don’t have them and many are newbie as far as these credit cards are concerned and thus they make a lot of costly mistakes during this initial stage. These pitfalls are not limited to first time users. Some unsuspecting and naive old time users are also guilty of such mistakes. It can indeed be very complicated for some people to manage credit cards and understand its numerous uses.  Exact BIN is the main thing you should always check. In case you are a beginner with credit card, here are common mistakes that you should avoid.

  1. Leaving balances and paying only the minimum

This is a very common mistake among new users of credit card. They make this mistake because they operate with the belief that having a balance every month will help them to build a positive credit rating. This may appear to be very plausible but actually it is not true for a new card user. It may be the right approach for an old customer. But normally, the credit cards of first time users are made to have exorbitant APRs. Some may be up to 25%. If you pay only the minimum and leave some balance on monthly basis, the amount of interest charged on your purchases definitely will be higher. This will in the long run create huge debt for you. The best thing to do is to pay your balance completely every month as this will help you to save on interest and improve your credit rating.

  1. Maxing Out Your Credit Lines

Definitely, new users are likely to find a new credit line very captivating as with it, they will be able to pay for large orders or things they like in order to gradually repay them. No matter how simple and interesting this plan may appear to be, if you max out your credit lines, it is likely for your creditors to see you as a person that can easily default on their balance. Spending up to the limit of your credit line also has a negative effect on your utilization ratio which is a very important factor in credit score. It is advisable to reduce your spending so that you will be able to keep your total debt-to-credit ratio below 30%.

  1. Hunting for promotional offers and rewards

Many issuers of credit cards sometimes include some perks and bonuses in order to attract new customers. Though some of these rewards and bonuses are worth going for and can give you some benefits, but in most cases, you are meant to pay for them in one way or the other. Cards with such rewards may have high interest rates and other charges. The issuers get back their money through these offers.

  1. Paying for all your daily purchases with your credit card

It is not advisable that you use your credit card all the time or for all purchases. You can use credit cards for all purchases only when you are able to clear all your debt on monthly basis. Such purchases can also be paid for with points or a particular reward earned. Apart from these situations, make cash payment for your living expenses like toothpaste, toiletries, groceries and others. You may end up spending more if you pay for these transactions with credit cards.

What Is a Credit Card?

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Many people make payment online with credit cards but only a few people really understand what it is. Indeed, it is much more than the plastic credit. A credit card is very similar to money borrowed from a source which is to be repaid at a stipulated time. Failure to repay the money will attract some penalty However, unlike certain types of loans, money given out in credit card is not secured. Thus, credit cards are issued to borrowers that have the ability to repay the loan. Issuers are very careful in issuing the card because of lack of security. It is the spending habit of the borrower as shown in his or her credit report that helps lender to determine the risk involved. It is therefore difficult for lenders to issue credit cards to people with no credit history or people with poor credit history.

Credit cards are not only issued by banks. They can also be issued by credit unions and other financial institutions. Some of the popular credit card issuers are JPM Chase, American Express, USAA FSB, Bank of America, US Bank, Wells Fargo and others. Some popular credit card companies like Visa and MasterCard are like agents that eases the process. But they also play other roles like determining the terms of transaction. But they don’t issue cards or the credit.

PHP Tips for Developers

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If you are a developer, these PHP tips will be of help to you.

Go for Object Oriented Programming (OOP)

Any developer that has not delved into the realm of OOP is not only lagging behind but putting himself at a disadvantage. As implicit from the name, object oriented programming is a programming method that utilizes objects or classes that bring similar things together, easily  carry out the elementary production task and prevent repetition of codes. This will help building a good php mailer. Put differently, objects refers to classes which are able to assemble and tie a bunch of functions together in a wrapper which can be used for a multiple times without requiring the developer to rewrite the procedures as well as the functionality each time you want to do something.

In procedural programming, as the server reads the files on the developer’s server, there is always a routine to follow starting from the first point to the last point in a page. In OOP, the initial one or two objects instantiated are able to instantiate thousands, hundreds or a couple of others all of which have the capacity of carrying out some functions which depends on the variable the objects have. OOP does not use much server resources. It is not only simpler but also faster and easier to debug. It only requires a few codes and it loads faster. Another good advantage of OOP is that once you are able to figure out the primary principles, working with it becomes more logical. With OOP, you will be able to develop in style.

Avoid anything that ends in once()

Definitely, every developer is aware that include() is a warning sign in event of failure while a script with fatal error is killed in case of failure. However, one point that every developer should bear in mind about PHP set up is that the server does not find it easy with include once() and require Once(). This is a set up that we cannot change. We only have to accept it. So, always bear in that your server resources are killed by these things. You will not have any need for them if you properly plan your code.

Utilize A Framework When You Need One

It is important that you learn the operation of frameworks to simplify things for you. Though, some experts developers like Rasmus Lerdorf has advised against the use of framework because according to him normal PHP code works faster, but the truth is that framework sometimes can aid you in carrying out difficult things. Another advantage of using framework is that it will not require you to write bad code because much of it has been written by another person.

Protect your database

The safest and best way to protect a database is to utilize mysql_real_escape_string() for all database before adding it to the database. Using the function is the first step you should take in order to protect your database as it safeguards all strings with regard to quotes and other functions that have a negative effect on your database or those that have malicious code.