Benefits of having an Orchard Credit Card
Believe it or not, there are a
ton of benefits when you get to own an Orchard Credit Card. The first one is
you will be able to monitor your account through email alerts. Because of
that, you can be updated with the latest happenings wherever you may be. You
can personalize your updates so you can choose the ones you would
automatically receive. Now, you can be updated about your monthly
statements, payment dues and special offers. You can even take a look at
your recent transactions, unusual transactions and cash advances you can
make. It is a good thing somebody came up with an Orchard credit card
because it certainly head and shoulders above the rest of the competition.
If you donít have an email yet then you can sign up for now right away since
there are a lot of email providers. You wonít have to worry about paying for
that because it is absolutely free. However, there are some packages that
require you to pay for the email service but that would really depend if you
are someone who often uses the Internet.
Another advantage is you will get various exclusive special offers. These
offers will shock you when they become available and the best part about it
is that they are not available in other credit card companies. It is
possible you can get a great deal at high end restaurants or you can get a
free item at your favorite casino. You might even enjoy a free overnight
stay at a 5 star hotel or a big discount on a flat screen TV. All these can
be possible with the help of an Orchard Credit Card.
You can also pay your bills online through 3 bank accounts if you have that
many bank accounts. You can even view these billing details on your mobile
phone so you would know the complete details in every bill you paid
including the amount and time you paid for them. You will also receive
confirmation emails about the payments you made so you would know if you
would proceed with the amount you paid or not. You can also cancel future
scheduled payments if you changed your minds about those payments and you
want to buy something else instead. You should think twice about canceling a
payment because it might be more important than what you are canceling it
for. There are so many things in life that need payment so you must think
long and hard about your priorities in life.
You would also be able to contribute to the conservation of the environment
because you wonít receive paper statements anymore. Since you would go
paperless, you would be able to protect yourself from identity theft so you
can be sure you are always paying the right bill. You can always take a look
at your past expenses by simply logging into your online account. You can
now take a look at how much you have contributed to the conservation of the
environment. However, if you still want papered bills then you can also
print those statements in your computer. Of course, papered bills are always
in danger of getting wet and lost so it is not really a good idea. We must
conserve the environment as much as possible because it is us who will
suffer if it is not conserved enough. In fact, it is the future generations
who would suffer so we better take care of it if we care about our children.
The best advantage of them all is you can manage your Orchard Credit Card
account online which would be good especially if you like to spend time at a
place that has high speed Internet access. You may need to look at what you
need to get done when you started your account because there are a lot of
things you need to do. You can now pay your credit card bill anytime
wherever you may be. Of course, you must make sure that you always pay on
time so you can avoid penalties because your bill would become larger if you
donít pay on time. You can also report right away if your credit card was
stolen or lost. Of course, you can never predict what would happen next in
your life which means losing your credit card could happen any time of the
day especially if you are in public places all the time. Some people might
even look to snatch it from you especially if it is near the holiday season
because it is the season when people need money the most. You can order a
replacement card if you feel your old card is not presentable anymore. You
can also add or remove authorized users from your account anytime you want.
New microchip credit cards will keep banks safe but will they do the same for you?
If you shop at Target (TGT) or Neiman Marcus, and if you dine at P.F. Changs you may know first hand the pain of having your credit card information compromised. Those are just three of the most recent high-profile companies to be at the center of information breaches. While they try to re-secure their systems the credit card industry is trying to do their part as well, namely with new cards equipped with microchips that are billed as more secure than that good old magnetic strip.
So how is the chip actually different? Right now when you swipe your card your information is sent from the credit card machine to a computer in the store you are buying from and then to the card company. Should a hacker or fraudster get that information anywhere throughout that system it is enough for them to create a fake card or use online over and over again until you shut down the card.
A chip card on the other hand generates new information for each transaction so that a fraudster who gained your card info when you bought a sweater at Old Navy could not use that information for any other transactions there or in any other store.
Sounds great, and it certainly solves one of many problems with credit card fraud. Still, as Carolyn Balfany, senior vice president of product at MasterCard (MA) admits in the video above, there is no silver bullet.
Chip cards offer you no more security online than a magnetic strip card does. Even the cards themselves aren't completely fraud proof. After the Target breach last year security journalist Brian Krebs told NPR the chip cards "simply raises the costs for the bad guys...It's not that they can't break the system ó but it makes it more expensive for them to fabricate these cards." Regardless, you'll soon be seeing a lot more chip cards across the U.S.
If you've traveled internationally you may have noticed that the magnetic stripe that is so ubiquitous on American cards is seldom used. Card companies, banks and credit unions there have already made the switch.
"It's not a short process," Balfany says. "What people don't know is that the industry has been working together for about two years to start to affect the migration. And so banks are beginning to issue cards to consumers across the U.S. and retailers are beginning to change out the terminals."
The big goal for all parties involved is to have much of the new technology in place by October of 2015. Such a move would certainly serve the consumer well, but card companies, banks, and credit unions aren't making the shift out of the goodness of their hearts. October 2015 is the date that new liability rules go into effect when it comes to fraud.
Right now fraud liability is investigated by the likes of MasterCard and Visa. They aim to discover who is at most at fault and that party shoulders the financial burden. Under the new rules the liability will fall to whomever has the least up-to-date technology. It's therefore in the best interests of banks, credit unions, retailers and card companies to get the newest and most secure cards into your wallet.
Balfany says that by 2015 50-60% of the cards in the U.S. and the credit card terminals in stores will be transitioned. You'll still be able to swipe that magnetic strip for years to come as the industry can't possibly jump to 100% acceptance overnight, but many large retailers are ready and many more expect to be by October of 2015.
Source From: http://finance.yahoo.com/blogs/breakout/new-microchip-credit-cards-may-keep-card-companies-safe-but-will-they-do-the-same-for-you-154610072.html