Credit Card Debt : Causes and Prevention
Friday, June 27, 2008
Credit card is defined as any card that may be used repeatedly to purchase product and services on credit which issued by banks and financial institutions. Credit cards provide us with the added security and ease when shopping and traveling but we tend to misuse them and may lead to credit card debt. When properly used, is an extremely convenient tool.Now, I would to share some causes of credit card debt…The major factor that causes credit card debt is many credit card users only pay the interest and the minimum amount of principal when the debt is due, thus never fully repaying the entire sum. Debt accumulates and increases via
Thirdly, with prices of goods and services going up and not the income, more and more Malaysians are forced to spend beyond their earnings. Thus, they will use credit card to purchase goods and services and unable to pay back the expenses. Fourth, with no savings, people can also be sucked into credit card debt by unemployment. They will use the credit card to cover basic living expenses and may found difficulties to pay back the amount.The next step is to stop charging items on your credit cards and pay cash for items you must buy. Then analyze your credit card debt, pay credit card debt with highest rate of interest in priority. Use your disposable income to completely pay off the card with the highest rate. Once that card is paid off, close the account and destroy the card. Then focus your attention on the next card, and do the same until all of the debt on your cards has been completely paid off.
Finally, just use one or two cards and use them as a financial tool. Remember that a credit card is not the same as free money. If you still have problem, leave you credit card at home while you are shopping.
Conclusion, credit cards should be used for emergencies only, unless you plan on paying the entire balance off immediately. Never pay the minimum amount due unless you truly can’t afford any more.
A review on a post on e-tailing from My E-Commerce blog
Thursday, June 26, 2008
Have you shopped online? This is not a new thing for all for us. People just can stay at home and sit down, then surfing the internet for online shops. Just a few click and they will get their desired things. So what is this all about? It is e-tailing. E-tailing (less frequently: etailing) is the selling of retail goods on the Internet. Short for "electronic retailing,". E-tailing is synonymous with business-to-consumer (B2C) transaction.
Nowadays, Internet is getting crowd with all intense competitors. On web sites customers generally comes to research and see prices so that they can make decisions. Why e-tailing is so important in this business world today and what is the advantage for this online business.
There are 4 major advantages why people prefer on e-tailing:
1. Product
If you are the person who likes music or books, you no need to go down the street to buy for it. Nowadays, some website has provided this kind of products such as amazon, you can download your music and books in the internet.
2. Place
Finding a store for a real life maybe difficult and it takes some time to find it. But the e tailing store is more convenient and the setup process is not so costly instead of the store for real life is much more expensive.
For e tailing store, the website is published to World Wide Web while the real life store only for specific area only. That’s why people prefer go online shopping.
3. Price
It is obvious that the price of the products of the online shops is much cheaper than the real stores. For example Dell computer, the price they offered is cheaper than the price at the outside stores. This is because Dell is based on retailer to customer without the existence of wholesaler.
4. Promotion
Instead of promoting your product through the traditional way such as newspaper, television, magazines and etc, internet advertising also can be used in e tailing such as banner, link, ads and many more to advertise your products through internet.
In Malaysia, e-tailing has been gradually grown. For example, Public Bank has offered the E-mall where people can buy things they desired. You can go here: http://www.pbbemall.com/mall/home.jsp
Lelong.com is the biggest auction in Malaysia where you can buy your product just to bid a price. There is a variety products of things can bid. www.lelong.com.my.
Mobile payment systems in Malaysia: Its potentials and consumers’ adoption strategies.
Have you ever been thinking about using your mobile phone to pay your water, electricity bills and etc? Do you know that your mobile phone can use as credit card to buy goods? Well, these concepts already become a reality where you can use you mobile phone to make payment very easily.
In Malaysia, Mobile Money International Sdn Bhd launched the MM Wallet which enables users to conduct transactions via short messaging service (SMS) by personal identification number (PIN) authorization using a mobile phone. You can visit this website for more details: http://www.neowave.com.my/mobilemoney_overview.asp .
Using mobile money is secure, convenient and secure. How this payment is made using the mobile phone? In order to pay using Mobile Money, a shopper must have a savings, current or credit card account with participating banks. It functions like a Credit Card if a shopper applies for a "Pay by Mobile Phone" credit card account. The shopper will be billed by the bank accordingly by month's end. In addition, it functions as a Debit Card if it is tied to shopper's savings or current account. The amount will be deducted instantly from the account upon successful transaction. This is the screenshot where step-by-step the payment was made: http://www.neowave.com.my/mobilemoney_screenshots.asp
Although this payment in Malaysia not so popular, but it has potential that many people will start using this system to pay their bills, in the future, many people will use this payment method to do transactions instead of go outside.The threat of online security: how safe is our data?
Sunday, June 22, 2008
With the advancement of technology today, there are various online security systems or software could safeguard our data. However, there are also numerous of online threats attack your computer system, personal data and privacy anytime without your attention while u access the websites.Malicious attacks are cyber attacks that can be further broken down into attacks caused by malicious code. The most common form of malicious code is computer virus. It’s a computer program can replicate itself and infect a computer without permission or knowledge of the user. The virus can easily spread by a user sending it over a network on the internet or by carrying it on a removable medium such as floppy disk, CD, U
SB drive. For example, the May 2000”I Love You” virus was a simple and small piece of code attached to e-mail which cause e-mail servers to overload and business to shut down email. It ever caused over $100milllion in US damages and over $1 billion in worldwide losses.
Spyware is any technology that aids in gathering information about a person or organization without their knowledge. On the Internet, spyware is programming that is put in someone's computer to secretly gather information about the user and relay it to advertisers or other interested parties.
A Trojan horse is a destructive program that can cause serious damage by deleting files and destroying information on your system. Trojans are also known to create a back door on your computer that gives malicious users access to your system, possibly allowing confidential or personal information to be compromised. Trojans unlike virus or worms, they do not reproduce by infecting other files nor do they self-replicate
Nowadays, identity theft has become general. Identity theft is online fraud that unauthorized collection and use of personal information such as social security numbers, signature, name, address, phone number, credit card information, usually for criminal purposes. Internet provides a new way for people to steal your personal information. Crackers using internet chat rooms and spreading Trojan horses that drop key loggers on your computer to transit any passwords, usernames and credit card numbers you use on your computer back to the crackers . Internet identity theft has made many people hesitant about making a purchase online or signing up for what others consider everyday occurrences such as creating PayPal account, purchasing from e-commerce sites, using internet banking and checking credit card statements online.
The Application of Third Party Certification Programme in Malaysia
One of the certificate authorities in Malaysia is MSC Trustgate.com Sdn Bhd. MSC Trustgate.com Sdn Bhd is a licensed certificate authorities in Malaysia which establish in 1999. Trustgate.com Sdn Bhd offer security solutions and leading trust services such as digital certification, digital signatures, encryption and decryption.
VeriSign is a Secure Sockets Layer (SSL) services provide by Trustgate.com Sdn Bhd. This is the standard security technology for establishing an encrypted link between a web server and a browser to ensure all information remains private and integral. SSL is used by websites in the protection of their online transactions with their customers. To be able to create an SSL connection a web server requires an SSL Certificate. All SSL Certificates are issued to either companies or legally accountable individuals.
How to safeguard our personal and finance data
1. Protect your computer's security.
Use as many tools as you can to protect your personal and finance information from the
nefarious. Failing to protect your computer is just as bad as leaving your door unlocked.
One of the best ways you can protect yourself against potential fraud or identity theft is to eliminate your own paper trail. A basic desktop shredder will be enough for household needs.Verify the validity of any requests for personal information before you give out any of your sensitive data.
4. Use a credit card with a small limit
It's all too easy for a dishonest sales clerk to use your credit card information while you are doing online purchases. At least you may minimize your losses, if the card you use for these purchases has a low credit limit.
5. Choose your PIN wisely.
While you want to choose something you'll remember, don't choose something that people could figure out easily by learning your birth date or your child's name. A combination of uppercase and lowercase letters, numbers, and symbols will offer you more security.
6. Clear your cache
If you are using public computer to login to any website that contain your personal and finance data, you may clear your cache after each login to ensure your information are delete from the particular computer. This is to avoid public computer which may contain any software that capture password.
A review on a post on internet security from my E-Commerce
After reviewing on the blog of Identity theft: Cases on stolen laptops, hacking and lost CD.I find it that most of the users are only have the knowledge in managing well to their data, less of them have the awareness about the importance of security towards their database. Therefore, it gives a chance for others to steal confidential information easily.
Do you have ever heard this scandal? Now known as “Edison Chen incident” in last few months? The biggest scandal in year has continually placed on newspaper front pages every days since the obscene photographs have first broke in the newspapers on January.
After investigated by police, it is believe that the naked pictures were leaked when
Form this incident, can you fully realize how private affair can impact a man future while it is ignominious. Moreover, everyone can be the victim if the confidential information has leaked indeliberately. Therefore, we have the responsibility to protect our data strictly.
Some people may have this question: how and why the file and folder have to be protected? I am encouraging you to use the file lock software to encrypt your file or folder. File Lock not only protects files from unauthorized users but also safeguards them from Viruses, Trojans,
With File Lock encryption option, secret files are highly secure. Hackers can't access to secured files even if they break through to the computer which means we can peace in mind to save our data in computer.
Notice: if you have the interest to download the file lock software, you can type “file lock” in search engine, however, it was mention that most of the free download software is trial version means you have to register in order to get it.
