Credit Card
A credit card allows consumers to purchase products or services without cash and to pay for them at a later date. To qualify for this type of credit, the consumer must open an account with a bank or company, which sponsors a card.Every month the sponsor provides a bill, which tallies the card activity during the previous 30 days. Depending on the terms of the card, the customer may pay interest charges on the amount that they do not pay for on a monthly basis. Also, credit cards may be sponsored by large retailers (such as major clothing or department stores) or by banks or corporations (like VISA or American Express).
Credits cards are a relatively recent development. The VISA Company, for example, traces its history back to 1958 when the Bank of America began its BankAmericard program. In the mid-1960s, the Bank of America began to license banks in the United States the rights to issue its special Bank Americards. In 1977 the name Visa was adopted internationally to cover all these cards. VISA became the first credit card to be recognized worldwide.
Design
Credit cards are designed with complex security features to prevent the possibility of fraud. These features involve the card's account number, million customers.)
Debit Card
An electronic card issued by a bank which allows bank clients access to their account to withdraw cash or pay for goods and services. This removes the need for bank clients to go to the bank to remove cash from their account as they can now just go to an ATM or pay electronically at merchant locations. This type of card, as a form of payment, also removes the need for checks as the debit card immediately transfers money from the client's account to the business account.
The major benefits to this type of card are convenience and security. Along with the convenience of accessing account funds at anytime it also removes the hassles associated with having to write checks as payment like showing ID and associated fees. Debit cards are also considered to be a safer form of payment as a code is required to access the account funds, while checks can be easily stolen.
Not all plastic is equal! Learn the difference between the three kinds, and how each can affect your finances. Credit, Debit And Charge: Sizing Up The Cards In Your Wallet
This owner's manual will show you what to expect from your bank. Your First Checking Account
Types of debit Card
Visa, MasterCard,Switch, Maestro, Master Card, Meastro etc
Credit & debit Cards are made off Chip & pin and magnetic tapes.New cards featuring both magnetic stripes and chips are being issued in increasing numbers by all major banks.
When a customer does not know their PIN, or the PIN verification fails, the cashier can instigate a PIN Bypass, allowing a signature to complete the
Benefits
Under the old system, a customer would have to hand their card to the assistant for each payment. In certain environments such as restaurants, for example, this often meant that the card would be taken away from the customer to the card machine. This is no longer the case with the introduction of Chip and PIN as wireless PIN pads have been introduced that can be brought to the customer's table.transaction.
Saturday, December 29, 2007
Stock and shares Trading Brief note
A Share Holder
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A shareholder (or stockholder) is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. Companies listed at the stock market are expected to strive to enhance shareholder value.
Shareholder rights
Although ownership of 51% of shares does result in 51% ownership of a company, it does not give the shareholder the right to use a company's building, equipment, materials, or other property.
Means of financing
Financing a company through the sale of stock in a company is known as equity financing. Alternatively, debt financing (for example issuing bonds) can be done to avoid giving up shares of ownership of the company. Unofficial financing known as trade financing usually provides the major part of a company's working capital (day-to-day operational needs).
Trading
A stock exchange is an organization that provides a marketplace for either physical or virtual trading shares, bonds and warrants and other financial products where investors (represented by stock brokers) may buy and sell shares of a wide range of companies.
Stock price fluctuations
The price of a stock fluctuates fundamentally due to the theory of supply and demand. Like all commodities in the market, the price of a stock is directly proportional to the demand. Stock derivatives A stock derivative is any financial claim which has a value that is dependent
on the price of the underlying stock. Trading Statistics Definitions
Price & Volume Section
Recent Price
The closing price on the previous trading day.
Trade Date
The date of the previous trading day. "Recent Price" is the closing price taken from this day.
52-Week High
The highest intra-day price during the preceding 52 weeks.
52-Week Low
The lowest intra-day price during the preceding 52 weeks.
52-Week Change
The % change in the latest closing price of the stock vs. the closing price 52 weeks ago.
YTD Change
The % change in the latest closing price of the stock vs. the closing price at the beginning of the calendar year.
Avg. Daily Volume Last 10 Days
The value is calculated as the average of the last ten days trading volume as reported at the close of market.
Share Related Section
Market Capitalization (Thousands)
The combined market capitalization of all listed common equity classes for this company.
Shares Outstanding (Thousands)
This is the number of shares of common stock currently outstanding. This is the number of shares issued minus the shares held in treasury. This field reflects all offerings and acquisitions for stock made after the end of the previous fiscal period.
Shares Outstanding Date
The date the latest Shares Outstanding are downloaded into Multex Market Guide's Database.
Short Interest Section
As of The latest short interest date, which is usually 5 trade days before the 15th of the month. This figure is available monthly, and is provided by either the NYSE, the NASDAQ, The Toronto Stock Exchange, the Canadian Stock Exchange,or the American Stock Exchange (depending on where the security trades).
Short Interest (Millions)
The number of shares of the stock that have been sold, but not yet repurchased.
Short Interest Ratio
Shares sold short (as reported by the exchange) divided by average daily volume during the short interest period. This period is usually the 11th of the month to the 10th of the next month. This represents the number of days of average trading needed to cover the shorts. This is also called Days-to-Cover.
Insider Transactions Section
As of The date of the latest insider information. There is usually a lag of approximately six weeks before a report is posted.
Net Insider Transactions
This is the net difference between the number of SHARES of company stock purchased by officers and directors and the number of shares sold by officers and directors during the preceding six months.
Institutional Holdings Section
As of The date of the latest institutional holdings information. Shares Held by Institutions
The actual number of common stock shares held by all reporting institutions.. This figure is the sum of all the shares held by institutions filing 13-Fs and all non-13-F reporting funds.
Percent of Shares Outstanding Held by Institutions
The percentage of common stock held by all reporting institutions on the corresponding Institutional Holdings Date.
Institutions Holding Shares
The number of all reporting institutions that are holding shares of this stock.
Visit Brain Pop
A shareholder (or stockholder) is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. Companies listed at the stock market are expected to strive to enhance shareholder value.
Shareholder rights
Although ownership of 51% of shares does result in 51% ownership of a company, it does not give the shareholder the right to use a company's building, equipment, materials, or other property.
Means of financing
Financing a company through the sale of stock in a company is known as equity financing. Alternatively, debt financing (for example issuing bonds) can be done to avoid giving up shares of ownership of the company. Unofficial financing known as trade financing usually provides the major part of a company's working capital (day-to-day operational needs).
Trading
A stock exchange is an organization that provides a marketplace for either physical or virtual trading shares, bonds and warrants and other financial products where investors (represented by stock brokers) may buy and sell shares of a wide range of companies.
Stock price fluctuations
The price of a stock fluctuates fundamentally due to the theory of supply and demand. Like all commodities in the market, the price of a stock is directly proportional to the demand. Stock derivatives A stock derivative is any financial claim which has a value that is dependent
on the price of the underlying stock. Trading Statistics Definitions
Price & Volume Section
Recent Price
The closing price on the previous trading day.
Trade Date
The date of the previous trading day. "Recent Price" is the closing price taken from this day.
52-Week High
The highest intra-day price during the preceding 52 weeks.
52-Week Low
The lowest intra-day price during the preceding 52 weeks.
52-Week Change
The % change in the latest closing price of the stock vs. the closing price 52 weeks ago.
YTD Change
The % change in the latest closing price of the stock vs. the closing price at the beginning of the calendar year.
Avg. Daily Volume Last 10 Days
The value is calculated as the average of the last ten days trading volume as reported at the close of market.
Share Related Section
Market Capitalization (Thousands)
The combined market capitalization of all listed common equity classes for this company.
Shares Outstanding (Thousands)
This is the number of shares of common stock currently outstanding. This is the number of shares issued minus the shares held in treasury. This field reflects all offerings and acquisitions for stock made after the end of the previous fiscal period.
Shares Outstanding Date
The date the latest Shares Outstanding are downloaded into Multex Market Guide's Database.
Short Interest Section
As of The latest short interest date, which is usually 5 trade days before the 15th of the month. This figure is available monthly, and is provided by either the NYSE, the NASDAQ, The Toronto Stock Exchange, the Canadian Stock Exchange,or the American Stock Exchange (depending on where the security trades).
Short Interest (Millions)
The number of shares of the stock that have been sold, but not yet repurchased.
Short Interest Ratio
Shares sold short (as reported by the exchange) divided by average daily volume during the short interest period. This period is usually the 11th of the month to the 10th of the next month. This represents the number of days of average trading needed to cover the shorts. This is also called Days-to-Cover.
Insider Transactions Section
As of The date of the latest insider information. There is usually a lag of approximately six weeks before a report is posted.
Net Insider Transactions
This is the net difference between the number of SHARES of company stock purchased by officers and directors and the number of shares sold by officers and directors during the preceding six months.
Institutional Holdings Section
As of The date of the latest institutional holdings information. Shares Held by Institutions
The actual number of common stock shares held by all reporting institutions.. This figure is the sum of all the shares held by institutions filing 13-Fs and all non-13-F reporting funds.
Percent of Shares Outstanding Held by Institutions
The percentage of common stock held by all reporting institutions on the corresponding Institutional Holdings Date.
Institutions Holding Shares
The number of all reporting institutions that are holding shares of this stock.
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