This document provides an overview and index of topics related to credit cards and building credit. It discusses secured credit cards, credit references, credit reference agencies, credit repair companies, and tactics for completing credit applications. It also covers how credit applications are scored, what factors influence credit scoring, and a checklist of items that can affect credit scoring decisions. The overall document aims to help readers understand how to obtain credit cards and build a positive credit history.

1. The Credit Card
Encyclopaedia
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2. Index
Introduction I
Secured Credit Cards 2
Credit History - Credit References 3
Credit Reference Agencies 5
Credit Repair Companies 6
Application Tactics 7
How Credit Applications Are Scored 9
Credit Scoring 11
Credit Scoring Checklist 12
How To Get As Many Credit Cards As Possible 13
New Philosophy On Using Credit 15
Borrow £10,000 - £30,000 With Your Credit Card 16
The Cost Of Credit 17
The Multibanco Card 18
Cash In On The Demand For Credit Cards 20
Directory - Where To Obtain Credit Cards 22
High Interest Cheque Accounts 24
Directory - Companies Offering GUARANTEED Credit Cards 27
The credit market by its very nature is extremely volatile, therefore no responsibility is
accepted for omissions or inaccuracies, whether perceived or actual.
If advice concerning tax, legal or financial matters is needed, the services of a qualified
professional should be sought.
The contents of this book reflect the views and opinions of the author.

3. THE CREDIT CARD ENCYCLOPAEDIA
Introduction
The Credit Card Encyclopaedia is the most comprehensive report ever written on cards, both secured and
unsecured.
You have probably received a few invitations to get a new credit card ... or maybe several... or maybe a
couple every week. The business can be highly profitable to the banks as long as the cardholder stays in
debt. The average credit card with an approximate £2000 balance, will earn credit card issuers £350 a
year interest, plus cash advance charges and annual fees.
Used wisely, Credit cards are a powerful financial tool and undeniable convenience. They provide
important consumer protections, such as giving one the ability to charge-back a purchase if you are not
satisfied or believe you have been cheated.
Obtaining a major credit card, if you do not have one, will be a major step in building your credit - it
becomes easier to obtain other credit once you have a major credit card. It is amazing the number of
credit doors that open, once you have that magic Master Card or Visa Card. By getting one immediately,
you will be six months to two years ahead. Those with a clean record have it fairly easy compared to the
rest.
It is mainly a matter of opening easy to obtain accounts, proving yourself there, opening another, proving
yourself again, and so on. When you are working on quickly building your credit, remember that too
many loan applications at the same time can look bad. The inquiries are listed on your credit report, and
too many at the same time are suspicious.
PICK A CREDIT CARD TO SUIT YOUR STYLE
Economists usually argue that, as the price of products rise, sales fall.
But this does not hold true for credit cards. Take Barclaycard, where holders pay an annual percentage of
22.9 per cent, one of the highest APR around. Some cards attract an annual fee, this is sometimes waived
if your annual spend exceeds a specific amount. If you already have a credit card it is possible to transfer
that balance to a new card at a reduced interest rate.

4. SECURED CREDIT CARD
If you are in a hurry to build credit, one of the fastest shortcuts is to obtain a secured credit card. What is
a secured credit card? This is a method where the applicant places a savings account as collateral for the
card. This savings account is frozen and the funds cannot be removed as long as there is an outstanding
balance on the credit card. Most often, the secured savings account has to exceed your credit limit. Only
a few companies allow all of your frozen savings to count toward your credit limit.
You earn interest on your frozen account. The interest depends on the type of account you have. A
passbook account generally pays less, but you can open other high paying accounts to increase the
interest earned. Most credit card issuers offer secured credit cards, but not readily advertised, so make
enquiries if this is the type of card that you want.
If you have applied for a credit card and have been turned down, offer a frozen savings account and see if
they will accept you. Generally, the best offer to make is a minimum account of £1,000, with a
corresponding credit limit of half the deposit, which is £500.
Most banks will, after a time, release your secured funds, effectively giving you an unsecured credit card.
This is the fastest and easiest way to obtain a Visa or Master Card. Some bankers don't even know that
this service exists and you will have to tell them about it.
Call the credit card department of banks that issue credit cards (See List.). Ask them about secured credit
card facilities and whether they offer them or would offer them If they do not, maybe they know of
someone who does. Find a bank that will do it, send them a letter or make a telephone call - ask for
information and an application regarding their secured credit card facility.
Carefully fill out the application for the credit card. If your application is rejected then appeal, and find
out why you have been rejected. Sometimes for no apparent reason you may be rejected. Try and
overcome their objections, if you are still rejected, keep trying!
We suggest that if you are unsuccessful, try again in six months, you may have better credit rating. You
may be over committed on your outgoings, and this could be one of the reasons for being turned down.
The most successful applicants are homeowners, mortgage payers, and married persons with one or more
children. Also in full time employment and have been living in the same house for over a year. These all
score you points on the credit system. The more points that you score the better your chance of getting
credit - you need to score at least 17 points (See the credit rating form).

5. YOUR CREDIT HISTORY AND WHAT IT CAN MEAN TO YOU
You may have an excellent business proposition, but if your credit rating is poor, it may be unlikely for
you to persuade a lending source to offer financial assistance.
Keep a clean credit history, but if there has been previous lapses, make sure that you pay off any debt
judgements within the statutory 30 days of the judgement date so that the judgement never stays on the
records at all. If you can not do that because you did not get notification time, get the judgement "set
aside" by the court. A Credit Repair Manual is available separately. Please see price list for details
If you have a court judgement against you and do not pay-off the full amount within the statutory 30
days, a record of the outstanding debt will appear against you at the address concerned for 6 years. Even
if you pay the debt one-day later than the 30 days that record will still be there. Make sure your credit
records are accurate and that any previous judgements show as paid on your credit record If they aren't,
get the appropriate notes added to them by the credit reference agencies.
YOUR CREDIT REFERENCES.
In-house records:
Your application will be examined next to the institution's own in-house credit records. If you have
previously established a good credit record with them, it will earn you points. If your report is negative,
you will have points taken off.
Credit cards:
Points can be awarded if you have existing credit cards. Always a major credit card such as Visa or
MasterCard, American Express, Diners Club are better and give more points than smaller department
store cards. Oil company cards do not often generate much excitement.
Current bank loan:
A current bank loan will give you positive points.
Finance company loans:
Having a loan with a finance company can only hurt you. The more you have had, the more negative
points you will accumulate.
Credit report:
Negative items on your credit report will generate negative points against your application. The more
negative items, the more your score will be reduced.

6. Inquiries:
You will receive negative points for any inquiries on your credit record that did not result in a new
account being added to it.
Knowing where you stand financially, you can meet any questions that might arise. Carefully prepare
your application and be ready to show yourself as a trustworthy credit risk. You can do it. The
information that we have presented should help you to prepare your application so that it will appear in
the most favourable light possible.

7. CREDIT REFERENCE AGENCIES
Obtaining your credit files
To obtain copies of your credit files you must write to the two main Credit
Reference Agencies in the UK.
The addresses are:
EXPERIAN Ltd
Consumer Help Department
P.O. Box 40
Nottingham
NG7 2SS
EQUIFAX EUROPE Ltd
DEPT 1E
PO BOX 3001
Glasgow
G81 2DR
The statutory fee is £2 to each of the agencies together with a letter requesting a
copy of any information they may hold on you. If you are husband and wife you should
only need to send £2 as long as you both sign the letter.
If you are living together I would recommend that you both send separate letters
with a payment of £2 each. You may find that only one of you has bad information and
the other one can still get credit.
When writing to the agencies enclose the last 6 years addresses so they can do
a full check on you. You will normally receive a print of your credit file within 28 days. If
you have not heard anything within a reasonable time a polite request to check if they
got your letter will do no harm. Letters can go missing in the post.
Because of the personal nature of the information the agencies will not give
information over the phone.

8. SAMPLE LETTER TO CREDIT REFERENCE AGENCIES
A. Debtor
L. Debtor
123 Somewhere road
Leicester
Leicestershire
Post Code
EXPERIAN Ltd
Consumer Help Department
P.O. Box 40
Nottingham
NG7 2SS
Dear Sirs,
I am writing to you to enquire what information you hold on your computer system
relating to my credit rating. My full name is Arthur Debtor and my wife’s name is Lotta
Debtor. I enclose a cheque for £1 to cover your administration costs.
Yours faithfully
Lotta Debtor
Arthur Debtor
Lotta Debtor

9. CREDIT REPAIR COMPANIES
Phone numbers of Credit Repair Companies are advertised in The Sun and the Star Newspaper
APPLICATION TACTICS
The following information is absolutely vital if you are going to collect lots of credit cards to use for
investing purposes. About 75% of all submitted credit applications are turned down because the
applications are not completed and correct. When you submit a credit or loan application they grade them
as if it was a written test. Each line gets a certain number of points. The loan officer just adds them up to
determine if you pass or fail. As long as you take care of your credit accounts in the proper manner and
make payments on time you will not have problems with the banks. But it is still a good idea to have your
application get as many points as possible. The idea is not to blatantly lie but rather to stretch the truth as
thinly as possible. The reason for this is because the point system is way too strict. You need to ensure
your approval any way you can. Here is a list of tactics that if employed properly will triple the points
that you can get on an application. This list assumes that you are applying for an unsecured major credit
card. However, these tricks work well on any credit or loan situation.
1. You need to find out which credit bureau the bank uses and get a copy of your credit report. This is
something you should have akeady done. Make sure to have removed as many derogatory items as
possible. Also remove all the enquiries that did not result in the creation of credit or a credit card before
you apply.
2. Pick a bank that is promoting for business. These banks are usually the most lenient.
3. If you have a telephone listed in your name then great. Get an answering machine and have it on line
always. If you do not have a telephone in your home then you need to get one m.
4. While filling out the application, match your credit picture to the banks minimum requirements if you
know what they are.
5. If you can, type your application. Typing gives your application the appearance of perfection. This is
important. If you cannot type it be sure to print very, very neatly.
6. Make sure you have both, personal savings and a cheque account.
7. Go for a low credit limit of say £500 to £750 and let them offer you more.
8. Never put a previous address on an application. Have your application suggest you have been at your
current address for at least two years, if not more.
9. Never imply that you are self employed. If you are then just say who you work for even if it is your
company.

10. 10. Debt to income ratio; this basically means how much of your income is spent each month. This can
be no more than half of what you earn. e.g. if you make £900 a month then your debts can be no more
than £450. This is very important, the more income you show that you have to spend the better the
chances are for approval You may have to do some figuring with your budget to make this work out.
11. Never volunteer or admit to having a job for less than one year. This one thing could ruin your
approval chances all by itself.
12. Make your income figure as high as possible without getting too carried away.
13. Give yourself the best sounding job title that you can think of. The more professional it sounds the
better.
14. List as few dependants as possible. No more than three.
15. List your credit references that appear on your credit bureau file. This way they match up with the
ones on your application. Also, add any credit cards or hank loans that are not listed and are in good
standing to your credit report.
These fifteen tips will definitely help in getting your next application approved.

11. CREDIT SCORING.
Credit scoring is a method of assigning point values to the various items of information included in your
credit application or on your credit report. The values are then combined and a final score determined.
The scoring system was devised to help creditors apply a fiiir standard to all loan applications, and to
help them more easily determine who is less likely to repay a loan.
There are many different scoring methods. As we pointed out' not all creditors use the same systeIlL One
may look at your information and reject your request due to a low score. However, another creditor,
using a different set of parameters, may score you high enough to approve your application. The credit
scoring systems allow a creditor to reduce costs associated with reviewing your credit application.
Knowing the statistical probability of how likely the applicant is to pay his debts, a credit manager can
easily determine whether or not the institution should take the risk of lending money to that applicant. By
eliminating those applicants who statistically have been shown to be bad risks, credit scoring can cut
down on bad debt losses and the high expenses of collecting from borrowers who are behind in their
payments.
Legislation prohibits discrimination on the grounds of race, national origin, sex or marital status in
granting credit. The age of an applicant cannot be scored in such a way so that it denies credit only on
that basis. Likewise, simply because a person is of a particular ethnic background, is male or female, or is
married, single or divorced, he or she cannot be denied credit solely for that reason. If the person
possesses the financial ability to repay the loan, the institution must extend that credit to him.
Credit scoring systems are designed for creditors by specialised research firms. Old applications that
were approved by the banks are reviewed. Each of the questions on the application is studied in an
attempt to determine to what extent that information figured in the success or failure of a loan. The
examiner assigns various point values for the different possible answers to each question. A base score is
determined as the lowest value that will assure the greatest chance of successful repayment of the loan.
Theoretically, no one who scored below this value on the application would be approved. Thus, if the
creditor rejects all applicants who fail to score higher than the base number, there should be few, if any,
failures to repay.
While creditors rely heavily on credit scoring, there is a grey area that allows a lending officer to
override the score and to pass an application based upon his personal judgement in an individual case.
Many creditors realise that the point scoring system may pass over creditworthy applicants, so every
effort is made to fairly determine the viability of a loan before rejecting it.
If you feel that you have been denied credit because of the inherent biases of the scoring method used in
reviewing your application, work with your lender to get the credit you want. Remember that he wants to
extend a loan and make a profit for the bank. You must work with him to prove that you can and will
repay the money that you borrow.

12. HOW CREDIT APPLICANTS ARE SCORED.
Length of residence:
How long have you lived at your present home? The longer the better. You want to be thought of as
stable and reliable. A long stay adds points. Although this may unfairly discriminate against the young
and upwardly mobile, it lets the lender know if you are more likely to remain in your present situation
and be around to repay the obligation. Many lenders have systems that give high points to recent moves
tied to career advancement.
Home ownership:
Owning your home, either outright or with an attached mortgage, is far and away the best scenario. Home
owners are considered stable, dependable risks. In descending order, the better loan risks are:
homeowners, renters of an unfurnished home, renters of a furnished home, those living with parents or
other relatives, other situations. No distinction is made between home owners who have a large amount
of equity in their homes or those who are deeply mortgaged.
Geographic location:
Credit scoring is adjusted for geographical differences. An institution’s servicing area may be divided
into many categories.
Length of employment:
As with length of residence, the longer the better. Creditors want applicants who have a steady, secure
source of income. Holding the same job for many years indicates that the same should be true in the
future. A short length of employment is less assuring to the lender.
Occupation:
This is difficult to assess. While it seems that the occupation of the borrower would be a good indicator
of his or her character, there are many different ways to make the classification. Also, the classification
of employment under the scoring system is somewhat subjective. The officer reviewing the application
must determine into which category a job falls. A certain job may then be assigned a lower score by one
reviewer than by another. Therefor, it is not surprising that according to some systems, higher points are
awarded t9 self employed professionals, retirees, or to employees of large corporations.
The best scoring occupations, from top to bottom are: teachers, accountants, engineers, business
executives, supervisors, dentists, pilots, laboratory technicians, farmers, clerical workers, civil servants,
nurses, pharmacists, newspaper employees, policemen, firemen, military officers, railroad workers,
skilled technicians and equipment operators, sales clerks, salesmen, bus and truck drivers, janitors,

13. mechanics, contractors, carpenters, plumbers, electricians, tenant farmers, lawyers, self employed
businessmen, unskilled factory workers, cooks, painters, miners, retirees, freelance
artists, musicians, barbers, students, nurses aides, cab drivers, common labourers, housewives, restaurant,
hotel or amusement workers, lower level military personnel, bartenders, farm hands, and welfare
workers.
Age:
Older is not always better, until you reach 40. From there on the older you get, the more points you
receive. Under 25 and through the mid 30's are the lowest scoring ages. Anyone under 25 gets low marks.
But there again, this is the group that usually has no proven credit record. Young people have trouble
getting and establishing credit. People in their 30's generally have lower incomes but higher expenses,
trymg to buy a home, raise several children, and establish themselves in their career. This is when people
are most likely to declare bankruptcy. Thus, bankers watch this age bracket carefully.
Income:
The higher the income, the more points your application will earn. It's only logical. However, middle
income applicants are often less likely to repay a loan than lower income people. The real key to
determining repayment viability is to determine the amount of disposable income a person holds and the
overall stability of his or her income. Those figures are more difficult to obtain and to verify so many
lenders are more inclined to base their judgement solely upon gross income.
Telephone:
Having a home telephone in the borrowers own name indicates stability. Not having a telephone can look
suspicious. Some systems give more points for more than one phone.
Number of dependants:
Having between one to three dependants' scores you high because it means you have a certain level of
responsibility and stability. However, having more than three decreases the number of points awarded. If
you have too many you will lose points. It is believed that too many dependants strains the budget and
makes it difficult for you to repay a loan when there are so many other demands on your budget.
Citizenship status:
Non U.K. citizens get negative points. It is impossible for creditors to collect anything if someone flees
the country. However, banks also realise that most non-citizens are meticulous about repaying their
obligations.
Bank accounts:

14. Having both a cheque and savings account gains you points. Not having any account is very suspicious.
You can amass more points if you have your accounts with the bank where you are applying for credit
CREDIT SCORING - GUIDELINES CHART
FACTORS PO7NTS YOUR SCORE FACTORS POINTS Your score
MARITAL STATUS MONTHLY OBLIGATIONS
MARRIED 1 ZERO TO £200
NOT MARRIED 0 OVER £200
0
AGE CREDIT HISTORY
21 T025 0 LOAN AT THIS BANK 4
26 TO 64 1 ANY OTHER BANK 2
65 AND OVER 0
MONTHLY INCOME RESIDENCE
UP TO 600 1 RENTED UNFURNISHED I
£600 TO £800 2 OWN WITHOUT MORTGAGE 4
£800 TO £1000 3 OWN WITH MORTGAGE 3
OVER £1000 4 ANY OTHER 0
YEARS ON THE JOB
LESS THAN 1YEAR 0
ONE TO THREE YRS 1
FOUR TO SIX YRS 2
OVER SEVEN YRS 3
DEPENDANTS
NO DEPENDANTS 0
MORE THAN 3 0
ONE TO THREE 1
OCCUPATION PREVIOUS RESIDENCE
UNSKILLED 1 10-5 YEARS 0
SKILLED 1 6 YEARS AND UP 1
IN ADDITION
BANK ACCOUNT 2 TELEPHONE 2
YOU NEED A SCORE OF 17 OR MORE, THE HIGHER YOUR SCORE THE BETTER YOUR CHANCES.
NOTE:

15. 1. 50% of gross income must equal, or exceed loan, rent or mortgage
payments. (50% of your spouses income may be taken into consideration.
2. You must be registered on voter's roll or have a rent book for 3yrs.
3. Must have 3 payslips and latest payslips/ 3yrs accounts.
4. UAPT report. (credit reference).
HOW TO GET AS MANY CREDIT CARDS AS POSSIBLE.
The best way to get excellent credit is by collecting Master cards and Visa cards from different banks.
There are three types of Visa/Master cards: debit, secured and unsecured, but we are only going to
concentrate for this program.
The first one is a secured credit card. To get this card you have to open a savings account with anywhere
from £100 to £2000 in the account from the hank issuing the card. If you have no credit or your credit is
poor these cards are easier to get. They are worth the hassle because you are building very good credit by
using them. You have instant access to your cash, and within a year they become an unsecured card.
The second is an unsecured credit card. You can obtain these easily if your credit is pretty clean and you
follow the loan application techniques in a previous document. These are the best by far, for our
investing philosophy because you do not have to back them up with any cash and they allow you to
generate large sums of money very quickly.
You need to keep track of each card you get. This is easiest done by starting a manila folder file on each
card separately. All the letters, bills and statements for the cards should go in each folder respectively.
Depending on your present financial situation and/or credit ranking you can choose which companies you
want to apply to, for secured or unsecured credit cards.
Here is some information that you should know and things you should do to get a Master or Visa:
1. Get your credit cleaned up best as possible and add any positive statements to your file.
2. If you do not have any credit use one of the methods discussed to start getting some, i.e.- instant credit
cards, secured Master or Visa cards.
3. Try to improve or remove information in your credit file at the four main agencies or credit bureau.
4. If you currently have good credit then you should apply for unsecured credit cards.
5. If your credit card is in really poor condition then create a new file while you are cleaning up the
original one.
6. You can turn your secured credit cards into unsecured cards by writing a request letter to the bank after
six months.
7. If you plan to use the credit philosophy discussed in next section then you should start collecting as
many unsecured credit cards as possible.

16. 8. When applying for unsecured credit cards apply for at least 10 cards at the same time.
9. When the banks process your credit applications they will make an inquiry to the credit bureau. All
credit inquiries show up on your credit file. It will show if an account was opened up from that inquiry or
if the credit request was denied. Make sure you have the credit bureau merge all the accounts that match
up to the inquiries that created them Also remove all inquiries that do not produce an account.
10. Once you have opened your first 10 cards then apply for 10 more.
11. It is a good idea to reapply to the banks that turned you down as your credit rating improves.
12. As you start to receive credit cards use the cash advance option. Use the cash to pay some bills and
pay back the money you were going to use for the bills. I know this sounds crazy but the bureau's'
computer will show good credit activity and this will really help build your credit.
13. Request an increase of credit on the cards every year. Ask for at least 50 to 100%.
14. Repeat these 14 steps over and over until you have at least a £25,000 collective credit line from all
your cards.
Once you reach this point you are ready to start making some money by using the Credit Income Ideas
contained in the next section.

17. THE NEW PHILOSOPHY ON CREDIT.
The goal in this section is to show you a wining philosophy for using your credit card. The average
person uses their credit to increase their buying power. Then they buy all kinds of goods and services;
some are needs, most are wants. The problem with this is that they always end up being deep in debt after
they are done.
Remember that a major credit card is considered the same as cash. You can go to any bank or ATM
machine and get a cash advance of hundreds and even thousands of pounds. You don't have to beg, work
or even fill out any forms for this money. It's cash and it's quick.
Now, with all this in mind, what if I told you that a credit card is a great tool for raising short4erm
investment capital? Sounds kind of crazy, doesn't it? Well, you have got to think about it like this: I am
going to be charged interest for using this money from my credit card, I might as well be multiplying the
original money into more money and make a profit from it, right? The profit we are talking about here
would be anything higher than the interest you would pay on the money advanced on the credit card. The
kind of investing I am going to tell you about will always earn many times the amount you would pay.
We are not talking big stock market moves here, but small, little profit investments that make you money.
For example, you come across an excellent deal on a car, motorcycle, boat, etc. for say £500, and know
the item is worth £1500 minimum. Most of us have passed on these deals because we did not have the
extra cash at the time to buy. But, with this new philosophy in mind we have another chance to make
money in our day to day lives.
There are several ways to use cash advance for investing in small profit ventures and I will go into them
further in the next section. Mainly I want to get across the idea that credit cards should be used for
investing only.
Avoid using them for your standard purchases.
You should now start collecting as many credit cards as you can for this purpose.

18. BORROW £10,000 TO £ 30,000 WITH YOUR CREDIT CARD.
Your starting credit limit will be modest to begin with, but as ever, by conducting your credit card
account in a satisfactory manner, this limit will be raised.
To help raise a credit card limit, if you use the card for either buying goods and services, or taking cash
loans, up to the actual credit limit of your credit card, and paying back the sum loaned at the end of the
month or whenever the payment is due, the credit card company will offer you an increase on your credit
limit.
Once they see you are conducting your account in a satisfactory manner, and conducting the account to
your credit limit, increasing this limit will not be difficult. Always ask after a month or two; the worst
that can happen is for them to refuse or suggest you continue with the credit card for a further period,
after which they will review your limit.
After a period of time you could find yourself with a credit limit of between £3,000 to £5,000 per credit
card. A credit limit on your card of £1,000 will be a total credit limit of£l0,000 if multiplied by 10 credit
cards.
Over a period of time of good conduct and card use, if you have achieved a credit limit of £3,000 per
card, if multiplied by 10 cards you have £30,000. Achieve a higher limit than that? Then the total when
added all together will be even greater.
What should you use this instant cash from credit cards for? We all know that money borrowed this way
has a very high interest rate, so you would use it if there is no other way to raise the amount you require,
or if there is no other way to quickly raise the money you require.
Let's say you are familiar with printing machines, or any form of goods, and know that a factory unit has
to be cleared in a few days. You know the machinery could be sold for, say £15,000 with very little effort
(you would need a place to store it). The price being asked is now down to £7,500. You buy the
machines, advertise and sell soon after having bought the machines. You have made say, £7,000 plus in a
short period of time, had you not been able to get your hands on this cash in the first place, you would
not have this £7,000 plus as a profit - you would have nothing.
As soon as payment is received for the machines, pay back the credit card companies. Do check with
each individual card company whether interest is payable from the day you take the loan to the monthly
invoice, or to the day repayment is made if sooner than the issuing of the monthly invoice.
Property can be a marvellous investment, but it is always a long-term investment as far as credit card
finance is concerned. To use this form of quick finance you need to buy and sell quickly. At interest rates
often 20% or more, remember to be very careful, least you are left paying high interest on a deal that did
not work out as well as you expected.
take care.

19. THE COST OF CREDIT
When you get your credit card statement from your card issuer, see if any interest and charges you levied
are correct. Some credit card companies levy extra charges, which may come as a surprise. For example,
the GM card will impose a £10 charge if you go over your credit limit, and you will incur a £10 penalty
and interest if you are late paying your Lloyds Bank Access card bill.
More credit card companies do not charge interest when you pay your bill in full. However, for the Royal
Bank of Scotland's Visa or Access credit card, even if you repay in full with these cards, you will pay
interest on the amount owing from your previous statement right up until the date that they receive your
payment. This will appear on your statement. Most card issuers do not charge you interest in this way.
With Bradford & Bingley, if you have not repaid every penny from your previous bill you will not only
be charged interest on the amount outstanding, you will also be charged interest on new purchases shown
on the statement when you pay in full.

20. THE PORTUGUESE MULTIBANCO CARD
In Portugal, many banks, solid and often state owned are willing to give out plastic debit cards to both
their nationals and to foreigners, asking that you deposit a minimum of ~50 with which to open a bank
account. Chequebooks are also available if required. The name of this plastic debit card is the
MULTIBANCO.
In Portugal this card can be used in more than 95% of shops and restaurants, payphones, road tolls etc
and this one system covers the entire country and its banks. Because the MULTIBANCO is a debit card
you must have enough funds in your bank account to honour payments, which will be debited instantly,
similar to the Switch debit card system in the U.K.
Money can be withdrawn from over 2,300 ATM's (Automatic Teller Machines), or Cash point hole in the
wall machines in Portugal. Because of the Multibanco's involvement with the rest of Europe, the
Multibanco can be used for withdrawing
cash all over Europe. In the U.K., the Link ATM system, used also by the Abbey National Building
Society and other financial institutions will accept the Multibanco card.
On opening a deposit account from a bank in the Multibanco system, you will be given a plastic card on
the spot. The card does not have your name embossed on it as do British cards. There is a signature strip
on the back of the card under the dark magnetic strip for you to put a signature on - your signature or any
name you wish to use. Because there is no embossing of personal details, there is no expiry date on the
card either, so that the card will remain current until it requires replacing due to actual wear and tear.
Each card is issued with a PIN number which you can change whenever you like by following
instructions when inserted in a ATM either in Portugal, the U.K. or wherever a Multibanco or Link
machine can be found.
The Multibanco card is also available with a Visa or MasterCard facility built in, to customers who have
conducted their account in an acceptable manner after a period of time, but in keeping with the rest of the
world Visa or MasterCard system, your details and references would be required, as in the U.K. The PIN
number is sent to the address that you give the bank about 7-10 days after the issuing of the Multibanco.
Therefore the address could be an accommodation address either in Portugal, the U.K. or wherever; the
address of a trusted friend, or your hotel, assuming you will be in residence when the PIN number
arrives, or even collected from the bank when available. Remember, you are not required to show
identification when opening an account, other than your passport so that the name and address will be
whatever you have told the bank, to fit in with your need for secrecy. Obviously, if you show your
Passport, you will tell the bank your name as it appears on the Passport, but you are not required to sign
the Multibanco in front of the cashier. If you want to deposit money into your new deposit account and
then withdraw it later when needed from an ATM, the signature does not matter. If using the card to
purchase services and goods, remember that the signature you use on the payment receipts must match
whatever you have put on your Multibanco card signature strip.

21. Not all banks adhere to this system: some will issue only personalised Multibanco cards i.e. with the
name that appears on your passport embossed onto the card. This is true of all banks that are owned by
international banks. A suggested bank for unpersonalised Multibanco would be the BPA, or Banco
Portuguese Atlantico. Once you have the Multibanco you must use it once in Portugal. If your card came
from the Banco Portuguese Atlantico, and you use the card for the first time in an ATM belonging to the
BPA, it will not work, nor will it work if you use the card for the first time in an overseas ATM. For the
card to latch into the system you should first use the card in Portugal in an ATM not belonging to the
issuing bank. From the second transaction onwards the card will work both in Portugal and abroad in any
Multibanco or Link ATM.
Do remember, outside of Portugal, the Multibanco can only be used for withdrawing cash (up to £200 per
day subject to the money being in your account). In Portugal it can be used for withdrawing cash and as a
debit card to pay for goods and services. You can deposit funds into your Multibanco account by either
paying in cash or cheques in person at your branch in Portugal or by wire transfer from a bank or by
mailing a cheque to your bank in Portugal. As ever, you must ask yourself why you need this type of
account, and remember that asking your U.K. hank to wire funds to your Portuguese account will be
traceable, as will certain cheques, i.e. they leave a paper trail which an investigator might pick up on. The
simplest way is to take cash over when next you visit, or if this is not possible, use money orders,
travellers cheques that are not traceable to you in the U.K.
Earlier we talked of opening an account by showing your Passport as a form of identification. Both
Portugal and the U.K. are members of the European Union, and many EU foreigners can go to Portugal
without a Passport. What do they do to show identity? They will often have a national ID card to show.
We in the U.K. do not have such a document, but depending on the particular bank we hear that it is
possible to open an account by showing, for example, a British Rail Season Ticket ID, complete with
photograph or only wants to know that you have some official or semi official identity: a photograph
linked to a name.
A final suggestion is to have a local lawyer, trusted friend or third party open the account for you if the
showing of your passport may be a problem It is not usual for Portuguese banks to open accounts by
mail, but what about branches outside of Portugal? There is a large ex-pat population in Paris, where
most of the Portuguese banks will have branches, but in keeping with French banking requirements your
card would be embossed or personalised and your passport details taken.
To conclude, the Multibanco offers you the opportunity to legally open a deposit account without having
to provide bank and personal references as you would do if the account were opened in the U.K. You
have only to show your passport or some form of semi official identity. Funds deposited into your
account can be withdrawn in the U.K. from a Link ATM. There is no connection to your U.K. address or
your U.K. banking persona.

22. CASH IN ON THE DEMAND FOR CREDIT CARDS
If you've been searching for a business opportunity to give you solid financial independence, or if you
simply have been unable to obtain a VISA or MasterCard, then this article is going to be an exciting
message for you.
Credit cards have revolutionised the business world and have made many in that industry fabulously
wealthy. And it can do the same for you.
Almost every other business requires you to convince someone that they need your product or service.
Give people the credit they need and they can then spend it on what they really do want. Everyone knows
what credit is and everyone has heard of VISA and MasterCard.
Our society today is run on credit. Without credit cards it is virtually impossible to go shopping, make
airline, hotel or car rental reservations, or even cash a check! Many big city convenience stores now no
longer even accept cash! Today's mail, newspapers and television are flooded with advertisements for all
sorts of products, but you can't order most of it by telephone unless you have a credit card. It doesn't
matter who you are, you cannot exist without credit cards. Credit at one time was a luxury but in today's
economy it has become a necessity.
Yet an estimated 140 million Americans don't have and can't qualify for a credit card. any major
corporations are laying off hundreds of thousands of employees, many of whom thought they had a job
for life. During the past seven years (remember, credit bureau’s report information 7 to 10 years old - and
older in some cases), 50 million Americans have suffered income interruptions, job layoffs or reduced
incomes (lack of overtime, loss of second job, etc.) Over 2 million Americans have had their home
foreclosed. Industry statistics indicate approximately 40 million people in the USA are denied credit each
year. Fourteen million divorces occurred during the last seven years. Bills often go unpaid while
attorneys fight over assets and many people come out of divorce court with a blemished credit rating.
Fifteen million young people -- 18 to 21 years of age - have not yet established credit. Large numbers of
people immigrate to our country each year, many of whom wish to establish credit. In addition, serious
illness and accidents strike millions of families each year with the consequences of huge medical bills
and income interruptions. The individual may recover, but the credit rating can remain tarnished for 7 to
10 years.
Desire and demand are very high from these groups to obtain a major credit card. Secured VISA and
MasterCard credit cards can be the answer to the demand. These cards have been available for quite a
few years from a few lending institutions. Consumer awareness is low, but improving, due primarily to
limited interest and lack of effort in marketing by most lending institutions. Consumer participation,
however, has been high for those consumers who are familiar with secured credit cards.
These people can obtain a secured VISA card by opening a savings account with deposit of $400 or
more. The credit limit on the VISA will equal the savings deposit. The transactions on this card will be

23. reported to the credit bureau, building the record that is necessary for unsecured credit, but the fact that
the card is secured will not be reported.
Many people are paying application fees of $35 to $65 to get these secured credit cards. Not only is it
possible to get these cards without an application fee, but the bank's marketing agency will pay you a
commission of $15 to $20 for each accepted application, and 98% of applications are accepted.
Just imagine how much you could make offering people something that everyone needs and literally can't
live without in today's economy. Working part-time, you can make a lot of money filling this need.
Distributors use techniques such as "Take-One" boxes in stores and approved printed media advertising.
Distributors promote the secured credit card program by placing Take-One displays in various retail
outlets for customers as well as employees. Typical locations are cheque cashing outlets, video stores or
most retail establishments with a heavy volume of traffic.
Commission is controlled through a coded number on each application, which identifies the distributor.
Prospective distributors have to complete an application form, giving personal and credit references. A
starting fee of $145 includes an initial supply of Take-One boxes, application forms, and a marketing
guide. The first 99 approved applications pay the distributor a commission of $15 each, 100-499 pay
$17.50 each, and from 500 approved applications onwards the distributor is paid $20 each. Commissions
are paid monthly.
For information on becoming a distributor, write to: National Bankcard Services, Inc., Dept. A, 680
Village Trace, Bldg. 20, Suite E, Marietta GA 30067. USA

24. CREDIT CARDS
WHERE YOU CAN OBTAlN A VISA CARD
1. Mercantile Credit Co., LTD, P.O. Box 75, Elizabethan House, Great Queen Street, London EC2B
5DP.
2. Standard Chartered, 24/26/Newport Road, Cardiff CF2 1JR. No Annual Fee. Tel: 01222-474405.
3. Chase Manhattan Bank, Visa Centre, P.O. Box 54, Dunfermline, Fife, KY99 lAR.
4. Barclays, Northampton NN1 1SG Tel: 01604 234234.
5. The Co-operative Bank, Visa Dept., P.O. Box 150, Deif House, Skelmersdale, WN8 6NY. Tel:
0800-1090000 or 01695-502202. Annual fee £12.
6. Halifax Visa Card, Visa Centre, P.O. Box 47, Dunfermline ~9 4AH Tel: 01383 738855. £10 Annual
fee. No fee in first year. Yorkshire Bank, P.O. Box 4509, Leeds L52 8NP. Tel: 0133 288140.
8. Leeds Permanent Building Society. Visa Centre, P.O. Box 93, Leeds LS1 1NS.
9. Girobank Plc., Visa Card Dept., Bootle, Merseyside G7R OAA.
10. Allied Irish Bank Plc., Visa Centre, P.O. Box 197, Uxbridge UB8 15G Tel: 01232
236644.
11. Robert Fleming, Save & Prosper Group Ltd, 28, Weston Road, Romford.
12. Bank of Scotland - Tel: 01383 738855. Annual fee £10. No fee for the first year.
13. Bank of Ireland, Access Dept., P.O. Box 1102, 33/35 Nassau Street, Dublin 2 Tel:
003531 6798433
14. The Royal Bank of Scotland/ Advanta, Access Dept., P.O. Box 28, Southend-on Sea, Essex SS99
9EE. Tel: 0800-0777770 or 01702 349393. Annual fee £10.
15. Midland Bank, Access Dept., 200 Priory Crescent, Southend-on Sea, SS99 8BR.
16. Lloyds Bank, Access Dept., 200 Priory Crescent, Southend-on Sea, SS99 8BR. Tel: 01702
353355/0800-147789. £12 Annual fee.
17. National Westminster Bank, Access Dept., Southend-on Sea, SS99 8 BB. Tel:
0800-200400. £12 Annual fee.

25. 18. Capitol One Bank Tel: - 0800 669000.
19. Coutts & Co Tel: -0171-6233434.
20. First Direct. Tel: - 0800242424
21. Alliance & Leicester Tel:- 064 250250.
22. Beneficial Tel:- 0345 880880.
23. Citibank Tel:- 0800 005500.
24. Clydesdale Tel:- 0112424040
25. The Cyprus Popular Bank Tel:- 0171-5806091
26. GM Card Tel:-0800 445566.
27. BNA International Tel:- 0800-062062.
28. Sunday Times Tel:- 0800-829024.
29. First Trust (NI) Tel:- 01232 241822.
30. HFC Tel:-0181-3048314
31. RBS Advanta 10, Forster Lane, London EC2 Tel:- 0171-7100700.
AMERICAN EXPRESS
1. American Express Europe Ltd., Card Services, P.O. Box 64, Amex House, Edwards Street, Brighton
BN2 1 YF.
2. BankoflrelandTel:-0171 6288811.
3. Grindlays Tel:- 0171 626 6599.
4. Lloyds Tel:- 0171 626 1500.
5. RoyalBankofScotlandTel:-0171 6234356.
DINERS CLUB
1. THE DINERS CLUB LTD., Diners Club House, Kingsmead, Farnborough, Hants., GU14 75R.

26. GOLD CARD
Trusthouse Forte Goldcard Division, Cardholder Services Ltd., 19, Kingsmead, Farnborough, Hants,
GU14 75R.
MASTER CARD
1. National Westminster Bank-Tel:- 0171 7261000.
2. MidlandBank-Tel:-0171 6069911..
3. MBNA International - Tel:- 0800-062062.
4. Alliance & Leicester - Tel:- 0645 250250.
5. Bank of Ireland - Tel:-003531 6798433
6. Bank of Scotland - Tel:- 01383 738855.
7. Lloyds-Tel:- 01702353355/0800 147789
8. Frizzell - Tel:- 01202 295544.
9. TSB - Tel:- 0541 555566.
HIGH INTEREST CHEQUE ACCOUNTS.
Westpac Banking Corporation (Jersey) Limited
Charles Hse, Charles Street, St. Helier, Jersey, Channel Islands
Minimum Deposit £2,500
Sterling or U.S. Dollar cheque book
Cheque guarantee card for sterling accounts
Instant access without penalty. Standing orders, direct debit.
Telephone A)534 79500 or Fax- 053477717
Bank of Scotland
Jersey, Channel Islands
Cheque Account
Interest paid monthly
Telephone - 0534 77106
Cater Allen Bank (Jersey) Limited:
Jersey, Channel Islands
Cheque Account - Sterling

27. Interest paid monthly
Telephone 0534 77106
TSB Channel Islands Limited:
Jersey, Channel Islands
Cheque Account with cash card
Interest paid quarterly
Telephone -053427306
Hill Samuel Bank (Jersey) Limited:
Jersey, Channel Islands
Cheque Account
Interest paid quarterly
Telephone - 0534 73244
Royal Trust Bank (Jersey) Limited:
Royal Trust House, 19-21 Broad Street, St. Helier,
Jersey Channel Islands.
Telephone -0534 27441
Fax-0534 32513
U.K. MAINLAND CHEQUE ACCOUNTS
Caledonian Bank Plc.
8, St. Andrews Square,
Edinburgh,
Scotland
B112 2PP
High Interest Cheque Account
Telephone-0131 5568235
City Merchants Bank Limited:
13, Austin Friars,
London
EC2N 2AJ
High Interest Account
Telephone - 0171 638 3511
Fax-071 6382187.
Dunbar Bank Plc:
9, Sackville Street,
Mayfair
London
WiX lDE
Telephone:- 171 437 7844
Duncan Lawrie Limited:

28. 1 Fiobart Place,
London
SWiW OHU
Cheque Account
Telephone-0171 245 1234
Fax-0171 2456276
Harrods Bank Limited:
Knightsbridge
London
Swix 7XL
Telephone-0171 589 1490
HFC Bank Plc:
North Street
Winkfield
Windsor
Berkshire
5L4 4TD
Cheque Account
Benchmark Bank Plc:
Benchmark House
86, Newman Street
London
WlP3BR
High Interest Cheque Account
Telephone-071 631 3313
Fax-071 3239321
Most of the above banks pay high interest, Sterling or U.S. Dollars, etc.
Before deciding which bank to bank with, please check whether there is a branch near you and compare
interest rates and bank charges (if any)

29. CREDIT CARDS.
The following telephone numbers are of companies who have offered to provide guaranteed credit
cards... regardless of past credit history.
01813332555 01812364932 01716917831 01716917596
01737762024 01815860978 01812364924 01716443304
Datanet UK Ltd, Tel: 0171 644 3456.
The credit market by its very nature is extremely volatile, therefore no responsibility is accepted for
omissions or inaccuracies, whether perceived or actual.
If advice concerning tax, legal or financial matters is needed, the services of a qualified professional
should be sought.
The contents of this book reflect the views and opinions of the author.