Earn top cashback on credit cards in 2012

It's often said that there is 'no such thing as a free lunch.' In other words, every gain ends up costing us something, somehow, either immediately or later on. Generally, I agree with this old saying, but there are some exceptions to this rule.

For example, I will pocket upwards of £100 later this month for doing absolutely nothing. Where does this 'money for nothing' come from? Quite simply, it's a no-strings reward for using my cashback credit card!

Cunning cashback

Wherever I go and whatever I'm buying, I try to pay for all my purchases using my cashback credit card. This is because my flexible friend gives me a yearly rebate of 1% of the value of all my spending. As I've spent at least £10,000 on this card over the past 12 months, I'm due a cashback payment in excess of £100 very soon.

However, many people may not like to spend as much as I do on their plastic cards. Therefore, in order to find the ultimate cashback credit cards, I've crunched the numbers for monthly spending levels of £200, £400 and £800 in the first year.

The three top cashback cards

These three are the table-topping cashback cards:

The Capital One World MasterCard pays 5% cashback for the first 99 days, up to a maximum reward of £100. After this, it pays 0.5% on the next £6,000 spent, then 1% on £6,000 to £10,000 and 1.25% on spending over £10,000. To apply, you need to have a spotless credit rating, own your home and earn at least £20,000 a year. The typical yearly rate on purchases is 19.9% APR.

The American Express Platinum Cashback Card pays 2.5% cashback for the first three months, capped at £100. After this, it pays 1.25% on all spending. There is a £25 yearly fee, plus a yearly bonus rate of 2.5% for one month each anniversary. To apply, you need a household income of at least £30,000 a year, and the typical yearly rate on purchases is 14.9% APR.

The Santander 123 Cashback MasterCard pays 1% on supermarket spending, 2% in department stores and 3% on fuel spending (capped at £9 a month). 

There is a £24 yearly fee and the typical yearly rate on purchases is 18.9% APR. To apply, you'll need a minimum yearly income of £7,500.

For each of the cards I have highlighted the typical interest rates charged. However, cashback cards are only really appropriate for those of you who pay off your balance in full each month, thereby avoiding paying interest. Otherwise your interest payments will soon wipe out any cashback you may earn.

Credit Card Debt Drops 11%

NEW YORK (CNNMoney) -- Consumers whacked down credit card debt by 11% last year, and average debt loads dropped in every state.

The average credit card balance for 2011 was $6,576, down from $7,404 the previous year, according to a report from credit tracking and financial education website CreditKarma.com, based on data from more than 300,000 of its users.

The decline came as weak consumer confidence kept spending in check and banks continued to tighten their lending and slash credit limits for many existing customers, said Ken Lin, CEO of Credit Karma.

Credit card debt had eased in 2010 as well, slipping 7% during the year.

The positive trend may not last for long, however. As the economy continues to rebound, Lin said debt is likely to rebound with it, adding that banks have recently started loosening credit requirements again.

"I believe we are just about at the bottom of the debt trend," said Lin.

Credit card debt by state: Consumers in Wisconsin had the lowest average credit card debt last year: $5,062.

Mississippi and Alabama were close behind and also posted the biggest declines, with residents reducing their balances by 23% and 16%, respectively.

The state that racked up the most credit card debt was Alaska, where consumers had an average debt load of $7,937. Alaska was followed by New Hampshire and Connecticut.

Other debt: Consumers weren't as successful at paying off other kinds of debt last year.

Mortgage debt remained steady at a national average of $173,876, though levels varied greatly among states.

Californians had the most mortgage debt: an average of $313,749 per person. West Virginia residents had the lowest level: $104,279. Mortgage debt rose the most in South Dakota, jumping about 12%, and dropped the most in Nevada, by 6%.

Auto loan debt was the only kind of debt to actually increase -- rising 2% to an average of $15,504. It rose the most in Alabama -- by a whopping 30% -- to an average of $20,996.

Contacting hard HSBC Call Centre

I am the holder of one of the HSBC Gold Credit Card. However, if you would contact HSBC call centers 64 722 to speak with customer service is always an answering machine that answers. And the answer is convoluted. So it takes a long time. And we do not know how many buttons will be on tap to speak with CS.

Please parties HSBC to facilitate its customers in order to contact CS HSBC! Never made ??a convoluted. So take time and spend with no pulse and no clear benefit. Thank you.

Thousands of Israeli wrath burglarized Citizens Credit Card Hacker

A hacker announced that he hijacked the 15 thousand credit card accounts owned by citizens of Israel. According to data from Israel Banking Supervision Department, the credit card account that was hijacked from three credit card companies, namely Cal (Cartisey Ashrai Le'Israel), Isracard (Israel Credit Card), and Leumi Card.

Top of this hacking action, the Israeli Foreign Ministry Deputy then equate cyber attacks to terrorist acts.

"There will be no group of hackers who will be immune to the government's response," said Danny Ayalon, Deputy Minister of Foreign Affairs of Israel, the Jerusalem Post English-language daily.

According to him, this attack will be equated with terrorism and should get the same response to terrorist acts.

However, Ayalon's assertion it will provoke the wrath of hackers and it seems he will be the next target of hacking attacks.

Sure enough, a personal website Ayalon then hackers hijacked and diverted to an Arabic-language site with a central message: "It has been hacked by Foxy + TKL and Gaza Hacker Team. We declare war in cyberspace. Not afraid of this monkey"

Ayalon then could not be reached for comment regarding this attack. Until this news was written, the recovery is still not successful website.

Successfully Tracked A Blogger

An Israeli blogger, Amir Fedida, claiming hackers managed to track the identity, namely her nickname "oxOmar", a Saudi Arabian citizen aged 19 years who now lives in Mexico.

Fedida call this a hacker who is not too smart. "He did a lot of mistakes," said Fedida in writing in the Haaretz, an Israeli media-language publication.

Fedida called hackers because hackers are not intelligent approach to Israeli media using the e-mail that can be tracked. In addition to dialogue with Israeli journalists, in search beberaja hours, I not only can keep track of who he is, but also a variety of information scattered around the web that dibajaknya.

I get this information piece by piece, such as preparing a puzzle, "said Fedida in a blog post. Fedida hope that fruitful investigations and is able to bring hackers to justice.

Previously, hackers with the nickname "oxOmar" publish data that results when infiltrated into the first raid about 80 database servers. Hacker claims to live in Riyadh and he is a student of computer science.

He publishes credit card details, personal addresses, names, phone numbers, social security number of the individuals listed on the website One.co.il. After two publications, the third publication, name of the hacker who published different data, ie, calls himself "X".

Credit cards are tightened, the Bank Profits eroded?

Tightening of credit cards by BI, votes can suppress the NPL so that the bank be prudent. But, about the prohibition of compound interest, both the cost and its philosophy is considered not balanced.

The regulations summarized in 14/2/PBI/2012 BI Regulation issued January 6, 2012 to refine the previous rules, PBI 11/11/PBI/2009. The rules will take effect January 1, 2013, with a transition period until January 1, 2015, it is mentioned, the credit card holder must be at least 21 years old or have been married for the main card, and 17 years old or have been married for an additional card.

In addition, credit card holders are also only to customers with a minimum income of Rp 3 million per month, which refers to 3 times the average national Minimum Wage UMP, which must be proven with official proof of income. Meanwhile, the maximum credit limit is also set three times the revenue per month, unless the customer income above Rp 10 million.

BI also restricts ownership of a credit card a maximum of two cards from two publishers, except for the card holders with an income of Rp10 million per month. BI expects a variety of these new provisions could be applied to credit card issuing banks began this year.

In addition, BI also prohibits credit card issuers to apply compound interest system, known as interest berbunga.Hal is also stipulated in Bank Indonesia Regulation 14/2/PBI/2012 number of changes over 11/11/PBI/2009tentang PBI Payment Instrument Activities with Card (APMK), which was published on January 6, 2012.

The last provisions contained in article 17, paragraph 7 item d which states "charges and penalties, and interest payable banned from use as a component of calculation of interest." It's not set in the previous PBI, so most banks apply the system of interest rates in credit cards.

Economic observer David Sumual positive rate of BI's rules. Because, very good for prudence or prudential banking. The ultimate goal is to avoid bad credit. Now, says David, bad debts or the Non-Performing Loans (NPLs) of credit cards reached 4.5% (as of November 2011, December 2011 figures not yet released).

That is, said David, the risk of credit cards is quite high, although still below the maximum limit of 5%. "This rule, expected to suppress the NPLs to below 4%. So, there is the age profile, income, and limit the ceiling limit, it is very positive, ".

But, says David, a maximum of two cards for income Rp3 million, only good for a new one will sign up. "But, if the customer already had four credit cards from four banks, which banks are also difficult to be stopped. It can not be forced to decide which bank, "he said.

According to him, look in the mirror on the 1998-1999 crisis in South Korea where people actually use a credit card. Therefore, they dug a hole close the hole. "They apply more than two credit cards," he said.

So also with that of the USA today. U.S. society from the home installments of the credit card or Personal Loan (KTA). "Ultimately accumulate, so the bubble and burst. So, when the credit card crisis and the KTA must be careful, "he said.

Above all, David estimates, tightening credit card rules will not be eroded bank earnings although highly dependent on how banks work around. "Because of the potential of people who do not have a credit card is still widespread," he said.

Of the total population, a population of productive age 15-54 years who are economically active, the average population of Indonesia only has 0.1 credit cards per person. While in South Korea, per person up to 4 credit cards. In the U.S. population is 5 per credit card.

In addition to visits from age, from the Middle Class Indonesia is also still remains a large potential that is 136 million people. That number, divided by the total population of Indonesia 237 million which is a huge market potential 57.3%.

Because the credit card owner was a kid, he asserted, the rule of BI will not be eroded bank earnings. "What is happening is the potential growth of credit card ownership. Therefore, this also will not affect the fundamentals of issuers in the banking sector, "he added.

It's just a matter of BI rules that prohibit compound interest (compound interest), David did not agree. The reason, the bank gives compound interest to the community. That is, if people keep on deposit at banks and at maturity is not melted, the flowers bloom again plus the principal.

But conversely, if the banks give loans to people and not impose compound interest (compound interest), in terms of cost and philosophy so it is not a draw. "Moreover, all banks in the world practice of compound interest," added David.