Rashmisut

“Love, Life and Dream on” is a beautiful fiction by Animesh Verma, 2nd year Chemistry student pursuing his Masters from IIT,Bombay. Perfect book to be read in a train journey, I bet, once you start this, you can easily finish the book in 5-6hours, such is the narration of Animesh. He says: The quintessence of Love, Life and Dream on is to make us believe in our dreams. It’s about the details of our lives that we really do not care about, but they turn out to be the faded dots on the canvas of our life, which are required to complete the picture. The story unfolds with few students who are in search of themselves which I must say is the beginning of a lifelong romance. They want to dream but the dreams fade away with the realization of the rationality life has taught them. Aniket falls in love at first sight and what followed was a romantic journey of a young lad trying to woo his lady. Will these friends win the game of life and dream? What will happen when dream meets fate, fate ...

A credit card is part of a system of payments named after the small plastic card issued to users of the system. It is a card entitling its holder to buy goods and services based on the holder's promise to pay for these goods and services.The issuer of the card grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user. Usage of the term "credit card" to imply a credit card account is a metonym. A credit card is different from a charge card, where a charge card requires the balance to be paid in full each month. In contrast, credit cards allow the consumers to 'revolve' their balance, at the cost of having interest charged. Most credit cards are issued by local banks or credit unions, and are the shape and size specified by the ISO/IEC 7810 standard as ID-1. This is defined as 85.60 × 53.98 mm in size.

Credit cards are issued after an account has been approved by the credit provider, after which cardholders can use it to make purchases at merchants accepting that card. When a purchase is made, the credit card user agrees to pay the card issuer. The cardholder indicates consent to pay by signing a receipt with a record of the card details and indicating the amount to be paid or by entering a personal identification number (PIN). Also, many merchants now accept verbal authorizations via telephone and electronic authorization using the Internet, known as a 'Card/Cardholder Not Present' (CNP) transaction. Electronic verification systems allow merchants to verify that the card is valid and the credit card customer has sufficient credit to cover the purchase in a few seconds, allowing the verification to happen at time of purchase. The verification is performed using a credit card payment terminal or Point of Sale (POS) system with a communications link to the merchant's ac...

Credit card advertising regulations include Schumer's box disclosure requirements. A large fraction of junk mail consists of credit card offers created from lists provided by the major credit reporting agencies. In the United States, the three major US credit bureaus (Equifax, TransUnion and Experian) allow consumers to opt out from related credit card solicitation offers via its Opt Out Pre Screen program.

Credit card issuers usually waive interest charges if the balance is paid in full each month, but typically will charge full interest on the entire outstanding balance from the date of each purchase if the total balance is not paid. For example, if a user had a $1,000 transaction and repaid it in full within this grace period, there would be no interest charged. If, however, even $1.00 of the total amount remained unpaid, interest would be charged on the $1,000 from the date of purchase until the payment is received. The precise manner in which interest is charged is usually detailed in a cardholder agreement which may be summarized on the back of the monthly statement. The general calculation formula most financial institutions use to determine the amount of interest to be charged is APR/100 x ADB/365 x number of days revolved. Take the Annual percentage rate (APR) and divide by 100 then multiply to the amount of the average daily balance (ADB) divided by 365 and then take this tota...

High Interest and Bankruptcy Credit cards with low introductory rates are limited to a fixed term, usually between 6 and 12 months after which a higher rate is charged. As all credit cards assess fees and interest, some customers become so encumbered with their credit debt service that they are driven to bankruptcy. Credit cards will often stipulate a default rate of 20 to 30 percent in the event a payment is missed. That is, if a consumer misses a payment, the rate will automatically increase to a very burdensome level. The practice of universal default, in which the default rate is applied to a card in good standing merely by missing a payment on an unrelated account, greatly magnifies this harm. This can lead to a snowball effect in which the consumer is drowned by unexpectedly high interest rates. Further most card holder agreements enable the issuer to arbitrarily raise the interest rate for any reason they see fit. Inflated Pricing for All Consumers Merchants that accept cre...

* Cardholder: The holder of the card used to make a purchase; the consumer. * Card-issuing bank: The financial institution or other organization that issued the credit card to the cardholder. This bank bills the consumer for repayment and bears the risk that the card is used fraudulently. American Express and Discover were previously the only card-issuing banks for their respective brands, but as of 2007, this is no longer the case. Cards issued by banks to cardholders in a different country are known as offshore credit cards. * Merchant: The individual or business accepting credit card payments for products or services sold to the cardholder. * Acquiring bank: The financial institution accepting payment for the products or services on behalf of the merchant. * Independent sales organization: Resellers (to merchants) of the services of the acquiring bank. * Merchant account: This could refer to the acquiring bank or the independent sales organization, but in ge...