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Restaurant Table Credit Card Readers – Good or Bad?

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Select restaurants around the nation are testing table-based credit card readers that allow customers to pay for there meal at the table. The news scare in the past year regarding waitresses and waiters stealing customer’s credit card information led to the transformation of a new industry involving products that protect consumer’s credit card information.

The restaurants that are participating in the credit card reader beta launch were reluctant at first to participate because they feared diners would feel rushed. Fast food restaurants such as McDonald’s allow customers to pay at the counter with their credit card. Table side payment is different from counter-side payment because diners are actually sitting down and being served by an employee that works mainly on tips. Waitertalk.com, an online forum for waiters and waitresses to vent on topics such as ‘bad tipping customers’ and ‘unruly management’ have formed a discussion forum against these so called ‘table-side credit card readers’. Waiters and waitresses believe the credit card readers will be a deterrent to leaving appropriate tips, especially in casual fast food restaurants such as the Ground Round, that typically attract middle-class customers that are not experienced in tipping and eating at non-chain restaurants. Some waiters believe the credit card readers will be the main focus of the dining experience and the machines will not allow them to upsel to the customer because the customer will be thinking about the bill more than the actual dining experience.

In Europe, it is normal to pay at the table; however, the culture of Europe allows table-side payment to be acceptable. Will table-side payment be the new norm for paying at restaurants or will American’s not accept this because it is more of insurance than a convenience? What do you think? Shouldn’t you trust your waiter? The skimming scams at restaurants that made headline news were part of an isolated incident. However, credit card skimming happens everyday at restaurants and other direct consumer oriented small businesses. These incidents are usually not reported because the victim will not realize he has been scammed until months after the incident. The occurrences of restaurant credit card skimming happened at the same restaurant over a period of a year and claimed many victims who traced their credit card deductions to a restaurant employee.

The only difference between these tableside machines and the restaurant employee processing the transaction is – the restaurant employee will never leave his or her fingerprints on your plastic. You simply slide your credit card through the machine and a printer in the waiter’s area prints your receipt. All you have to do is sign and leave a tip. How convenient is this? You don’t have to wait an extra 4 minutes to have the waiter swipe your card and return with your card and the receipt. Is this convenience or privacy of your most sacred information? Should you trust the person who is serving your food? Most waiters and waitresses put up with a lot from customers to earn below minimum wage.

The manufacturers are betting restaurants will purchase these new Verifone credit card readers. The readers can go for several hundred dollars each. Restaurants benefit because the payment process turns tables quicker, which helps the restaurant earn more money per table and the waiter earns more as his ‘rentals’ are turning quickly.

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Bit2Me Raises $23.9M After Several Successful Token Sales

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Bit2Me

Spanish cryptocurrency exchange, Bit2Me, has successfully raised $23.9 million (20M EUR) following three highly-demanded public sale rounds for its newly launched token, B2M. The first public sale, launched on September 6th, 2021, saw a staggering $5.9 million raised in just 59 seconds, followed by a second which raised $8.8 million in just 47 seconds. The final phase sold out in just 38 seconds, involving over 7,000 participants. Each marks some of the quickest and largest grossing for a public sale of an exchanged-based token in crypto history.

In addition to this staggering retail demand, Bit2Me also drew on its existing network of partners and investors, securing a further $3.3 million in private funds. Moreover, the Spanish exchange is confident this momentum will carry through to November 1st when B2M goes live on Bit2Me’s own cryptocurrency exchange, given both the figure raised so far and the growth of and interest from the community since B2M was launched.

Commenting on the token sale’s success, Koh Onozawa, a recent addition to Bit2Me’s advisory board, said that the sales are the product of “6 years of hard work and community building” undertaken by Bit2Me, with the team having “bootstrapped” the exchange from a small unknown exchange, to one of the largest in Europe, and the largest in the Spanish speaking world.

Onozawa went on to say that the team is excited to see what the future brings for the exchange and the change and impact it will have on the cryptocurrency exchange industry as a whole:

“We [Bit2Me] won’t stop until everyone can easily discover access and operate with crypto in their day-to-day lives.”

Evolving the Cryptocurrency Exchange Industry

Indeed, pursuant to this mission, Bit2Me has been on a development spree, reflecting its aim to become a one-stop ecosystem for all things cryptocurrency-related. Their product portfolio, aptly named the Bit2Me Suite, consists of a range of products specifically designed to cater to the bespoke needs of its committed user-base.

These comprise a series of exchange services, including Bit2Me Wallet – a multi-asset storage and exchange application that hosts over 60 different crypto assets, Bit2Me Trade – a high-frequency trading platform supporting market, limit and stop-limit orders and an over-the-counter (OTC) trading desk to support high-volume transactions.

Additionally, Bit2Me has rightly focussed on the area of the crypto-world which still arguably requires a significant amount of attention – fiat-crypto off and on-ramps. Bit2me Pay and Bit2Me Card provide payments solutions for cryptocurrency traders, allowing them to purchase crypto-assets with fiat currencies and spend crypto-assets using traditional online payment gateways.

In addition, the Bit2Me ecosystem also offers community-focused products like Bit2Me Academy for crypto learning, Bit2Me News, Bit2Me TV, directory services, event listings, loyalty programs and a range of on-demand services for the community.

B2M: Powering The Bit2Me Ecosystem

Powering all of this is Bit2Me’s newly-launched, Ethereum-based token, B2M. B2M is a utility token that acts as a medium for information and value exchange in the Bit2Me ecosystem. Users can pay for Bit2Me’s educational resources, such as courses in the Bit2Me academy using the ERC-20 token, and even receive exclusive discounts (up to 90%) on content.

These discounts also extend to fees paid when using Bit2Me’s exchange services, including Bit2Me Trade and Bit2Me Wallet. You will obtain these benefits only by holding B2M, you won’t need to spend it.

Finally, borrowing from the decentralized finance (DeFi) space, Bit2Me’s token will power the cryptocurrency exchange’s borrowing and lending facility. Users who effectively “stake” other cryptocurrency assets, such as Bitcoin (BTC) or Ethereum (ETH), making those assets available to be borrowed by others for trading purposes, will receive an interest payout. If lenders agree to receive these payouts in B2M, their earned interest will be significantly higher.

Finally, the team behind Bit2Me is also considering including a governance feature within B2M’s framework which will allow holders to vote on the platform’s product offering and additional features. This might include voting on specific features, cryptocurrency listings up and the general direction of the exchange.

If the successful public raise is an indicator of future success, Bit2Me is destined to be a giant in the cryptocurrency exchange space and remain as such for a long time into the future.

To learn more about B2M and Bit2Me’s suite of cryptocurrency exchange services, visit their main page here.

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XDC Network Price Prediction 2021 – Will XDC Hit $0.2 Soon?

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XDC Network Price Prediction 2021 - Will XDC Hit $0.2 Soon?
  • Bullish XDC price prediction ranges from $0.13 to $0.189.
  • XDC price might also reach $0.2 soon.
  • XDC bearish market price prediction for 2021 is $0.04.

In XDC Network (XDC) price prediction 2021, we use statistics, price patterns, ADX, and much other information about XDC to analyze the future movement of the cryptocurrency. 

XDC is an enterprise-ready hybrid Blockchain technology firm optimized for international trade and finance. The XDC network is based on the native coin known as XDC. Moreover, the XDC protocol is designed to support smart contracts, 2000TPS, 2seconds transaction time, KYC to Masternodes (Validator Nodes). 

According to CoinGecko, the XDC price is trading at $0.12 with a 24-hour trading volume of $6,798,745, at the time of writing. XDC has increased by 3.9% in the last 24 hours.

Moreover, XDC Network has a circulating supply of 12,238,141,964 XDC. Currently, XDC trades in cryptocurrency exchanges such as Bitfinex, KuCoin, HitBTC, Bitcoin.com Exchange, and Changelly PRO.

XDC Network (XDC) Price Prediction 2021

XDC Network (XDC) holds the 76th position on CoinGecko right now. XDC price prediction 2021 explained below with a weekly time frame.

XDC/USDT Price Chart Weekly Time Frame (Source: TradingView)

The above chart shows the Swing High and Swing Low patterns. A swing low is when the price makes a low and is immediately followed by two consecutive higher lows. Similarly, a swing high is when the price makes a high and is followed by two consecutive lower highs.  

Currently, XDC is waving in a range of $0.12. If the price of the XDC moves upward, it will reach the resistance level of $0.189. If the trend reverses to the down side, then it will reach the support level at $0.038.

XDC Support and Resistance Level

The below chart shows the support and resistance level of XDC.

1632582537 377 XDC Network Price Prediction 2021 Will XDC Hit 02
XDC/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support level of XDC.

  • Resistance Level 1 – $0.13
  • Resistance Level 2 – $0.15
  • Resistance Level 3 – $0.19
  • Support Level 1 – $0.09
  • Support Level 2 – $0.07
  • Support Level 3 – $0.04

The charts show that XDC has performed a bullish trend over the past month. If this trend continues, XDC might run along with the bulls overtaking its resistance level at $0.19.

Conversely, if the investors turn against the crypto, the price of XDC might plummet to almost $0.04, a bearish signal.

XDC Network (XDC) Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of XDC. Generally, the Average Direction Index (ADX) helps crypto traders identify the strength of a trend, instead of its actual direction. It can be used to check whether the market is changing or a new trend is initiating. It is associated with the Directional Movement Index (DMI) and basically includes the ADX line. 

The range of the oscillator is from 0 to 100. A high value represents a strong trend, and a low value shows a weak trend. It is often combined with directional indicators. 

1632582538 763 XDC Network Price Prediction 2021 Will XDC Hit 02
XDC/USD ADX(Source: TradingView)

The above chart shows the ADX of XDC stays above the range of 9.19, so it indicates a weak trend.

Conclusion

The XDC is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term XDC price prediction 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $0.19 this year. This will only happen if it breaks many past psychological resistances.

Furthermore, with the ongoing developments and upgrades within the XDC ecosystem, it could experience a great future ahead in 2021. It may reach $0.15 soon and it might even reach high heights, however reaching $0.2, if investors have planned that XDC is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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China’s Crypto & Bitcoin (BTC) Ban as Dreadful as Ever!

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China’s Crypto & Bitcoin (BTC) Ban as Dreadful as Ever!
  • Additional rules and regulations imposed for the crypto industry in China.
  • Even off-shore crypto trading now becomes illegal. 
  • China’s Judicial management consists of several bodies, now responsible for these new regulations.

The adaptation of the crypto regulations among various nations across the globe is getting severe with the passing of each day. These rules and regulations are not only a threat for the crypto exchanges alone but for the entire crypto industry. 

Amidst all these, the worse factors these days are making the already existing regulations even more aggressive. In such terms, China has newly imposed certain regulations upon its already prevailing crypto regulations. In spite of these new regulations, it seems there would not be any future for the crypto industry in the nation. Also, it’s well known that China has been into such regulations way back since 2013, upon Bitcoin (BTC).

The New Regulations

On 24th September, China announces officially certain new regulations in addition and upon effect immediately for the crypto industry. However, it seems these new additional regulations are much worse than the already existing ones and previous regulations.

In spite of this, the People’s Bank of China (PBoC) is one of the head council members for imposing these regulations. 

Accordingly, the official notice which was given out on 24th September states that all banks and other financial services providing firms to immediately cease all their services related to crypto trading, converting fiat to crypto, crypto to fiat and crypto to crypto, etc. 

Moreover, any individual who indulges in crypto trading with off-shore crypto exchanges, but presently living in China is also now illegal and against the law. 

Agencies Responsible for New Regulations

Although, it’s well known that these new implementations and regulations are done as many members brainstorming together. Apart from the PBoC, there are nearly ten agencies of the government together. 

On the other hand, the main agencies involved in these new regulations are the Cyberspace Administration of China (CAC), Public Security Bureau (PSB), Supreme People’s Procuratorate (SPP), and the Supreme People’s Court (SPC). 

In spite of all this, it’s quite evident that China is now targeting the criminal aspects of the crypto industry.

On the contrary, it’s well known that judicial and legal entities, Civil entities, and law enforcement entities are on par with these new regulations. 

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‘Side-eyeing Chloe’ Meme Fame Girl Sells NFT in Auction For 25 ETH

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‘Side-eyeing Chloe’ Meme Fame Girl Sells NFT in Auction For 25 ETH
  • ‘Side-eyeing Chloe’ sells her meme as NFT in an auction.
  • Auction started at 5 ETH and finally sold for 25 ETH. 
  • Many meme based NFTs are profusely being sold at high prices. 

The non-fungible token (NFT) industry is quite on the brimming these days. The last few months the market is up drastically. With the passing of each year, the NFT market and the industry is onto new heights as it has ever seen. In addition, many prominent game changing NFTs have significantly thrusted up the industry.

In spite of this, lately a few meme based NFTs have been selling hot cakes in the market. Am for sure that in all social media, this particular meme has been so viral for ages. This is the ‘Side-eyeing Chloe’ meme which has the image of a cute chubby little girl giving a puzzled look expression, which took all the internet to awe.  

‘Side-eyeing Chloe’ NFT

No one in the social media could have passed by without having a look at this meme image. Ever since it got out 9 years back, it’s still being used profusely. The ‘Side-eyeing Chloe’ image took place when the mother, Katie took her two young daughters to Disneyland in 2013.  

However, their mother did not reveal where she was taking the two girls to, as it’s a surprise. On the way in their car, Katie reveals to her daughters where she’s taking them to and films their whole reactions.   

Furthermore, out of surprise Chloe’s sister starts crying whereas Chloe just gave a side eyeing puzzled look with a snout face showing her protruding milk teeth, which was captured by the camera vividly. And so, Katie posted the video on social media, and the rest is history!

The Auction Close-off

In spite of all this fame, now the meme image is being sold as an NFT by Chloe herself. Also, this NFT was sold off as an auction though. 

Besides, initially the price was bid for 5 Ethereum (ETH), which approximate to $15,000. Fortunately, the auction finally closed off at about 25 ETH, which amounts to about a whopping  $74K! 

Furthermore, this NFT was bought by a music production company based in Dubai, called the ‘3F Music’.

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COTI (COTI) Hits New ATH $0.64 – Will it Hit $1

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COTI (COTI) Hits New ATH $0.64 – Will it Hit $1
  • COTI has hit its new all-time high (ATH) of $0.64. 
  • COTI aims to bring a scalable global payment system.
  • Recently, COTI collaborated with Cardano stablecoin hub, Ardana.

The world’s first platform developed for creating price-stable coins is COTI. Today, COTI has hit its new all-time high (ATH) of $0.64. It continuously displaying a bullish signal, if this trend continues then COTI can hit $1.

Furthermore, the first application, that is self-described as a fully encompassing finance on the blockchain is COTI Pay. The ecosystem was developed especially to face all the challenges associated with traditional finance.

More so, the COTI aims to bring a scalable global payment system. It facilitates a faster, more trusted, and affordable payment mechanism. The main advantage of COTI is its simplicity, ease of access, user-friendly environment, volatility, transparency, and so on.

Current Market Status of COTI

According to CoinMarketCap, the COTI price is trading at $0.6375 at the time of writing with the 24-hour trading volume of $836,744,896. In the last 24-hour the COTI price has increased by over 21%. The circulating supply of COTI is 868,672,118.03 COTI.

The above chart depicts a 24-hour price chart of COTI, currently it displaying a bullish sign. Eventually, if this continues without a breakout then traders can expect the hit of $1 soon.

COTI Collaborated with Ardana

The main reason behind the price upsurge of COTI is the latest announcement of COTI that it is collaborating with Ardana. It facilitates stablecoin payments to AdaPay. This means, using their stablecoins, users can purchase things wherever Adapay is accepted. The collaboration will build stablecoin crypto-to-fiat payments to the Cardano network.

Therefore, this might be the major reason for the price surge and the hit of the new ATH. With the forthcoming collaboration, upgrades, and updates we can expect more price gain in the upcoming days, we can also expect that the COTI price will hit $1 soon.

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CowboyZombies About to Launch a Presale: Here is What You Need to Know About the Project

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CowboyZombies About to Launch a Presale: Here is What You Need to Know About the Project

Introducing blockchain technology into other industries has typically had very positive results, and there is still no example of introducing blockchain when any industry got damaged in any way. Gaming, for example, is one of the handful of industries that were extremely open to blockchain technology from the early days, immediately seeing potential in its cheap and quick payments.

This was perfect for microtransactions, ensuring immutable ownership of various collectibles, and alike. It wasn’t long before gaming and blockchain became so well-connected that games started launching on the blockchain itself.

One of the biggest upcoming examples of this is CowboyZombies, a new Shoot-to-Earn game inspired by shows such as The Walking Dead and zombie games like Left 4 Dead.

What is CowboyZombies All About?

As the name suggests, CowboyZombies pitches cowboys in their fight for survival against zombies. The game sets you in 1970, although it gives off a strong old west feeling. In it, cowboys are living their best lives, herding their cattle, hunting deer, and occasionally solving problems like chasing bandits and other criminals.

This all changes when the zombie attack starts, and cowboys are forced to use all of their skills to fight for survival. They have a variety of guns and knives at their disposal, and there are 5 ranks of cowboys and cowgirls fighting against 4 different types of zombies.

The game has very unique gameplay and expertly made UI, created by a team of 7 well-known expert designers. Best of all, it differs from standard Play2Earn games by using a Shoot-to-Earn approach.

CowboyZombies Presale is Coming

The project has plenty of goals to cross off of its roadmap, and the first one on the list is its upcoming presale, which will take place at the beginning of October on DxSale. Following this, the project will start focusing on achieving major listings, such as PancakeSwap, as well as a number of CEXes, in order to become universally available.

It will also see the launch of cowboy and zombie NFTs, as well as an NFT marketplace, NFT zombies battle, and more. At some point in 2022, it will introduce additional CowboyZombies characters, expand its team, launch NFT Farming, and work on its marketing campaign.

The project specified that it aims to focus on the entire world, but it also revealed that it will have a special focus on using influencers for marketing in China. This comes as a surprise, given China’s dislike for cryptocurrency-related products.

However, the project was very clear regarding the fact that this will be only a beginning, and that its goal is to go worldwide, and become a go-to blockchain game for gaming and blockchain enthusiasts.

Furthermore, it will also cooperate with a game studio to create a mobile version of the game. This will allow players to enjoy the game even on the go, which will open up new opportunities to earn while playing, which is becoming a more and more popular concept. The game will, of course, be available on Android and iOS alike.

It should be pointed out that the project is still in its early stages, and it will take some time before it reaches its full potential, as well as the popularity levels that it is pursuing. However, looking at its beautiful designs and a well-planned roadmap, there is little doubt that it will conquer the attention of the gaming and blockchain space fairly easily.

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All Players Earn in CryptoTanks Regardless of a Battle’s Outcome

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All Players Earn in CryptoTanks Regardless of a Battle’s Outcome

The play-to-earn gaming economy continues to grow due to massive public demand.

CryptoTanks, a new game running on Polygon and Binance Smart Chain, leverages NFT technology to empower the players. Bringing a military and shooter-oriented game to the play-to-earn ecosystem is a further expansion of this growing ecosystem.

The CryptoTanks Game Explained

Several play-to-earn blockchain games have proven successful in recent months. Ranging from Axie Infinity to StarAtlas and MOBOX, there is a lot of momentum in the space. Players enjoy the concept of controlling their in-game assets and potentially monetizing them in the future. It is the way video games should be: players control their assets and interact with others through built-in marketplaces to earn passive income.

CryptoTanks follows along the same train of thought, although its game is slightly different. The military theme is a different spin on blockchain gaming, as there is still a limited amount of playable game genres today. However, any game can use blockchain technology and NFTs to empower its players, and there is still much exploration.

The mechanics of CryptoTanks are comprehensible: play the game by using in-game tanks, participate in battles, complete quests, and upgrade machines to increase their characteristics and value. Every in-game item is a non-fungible token(NFT) that players can exchange for real money. As there is no need to buy expensive NFTs to start playing CryptoTanks, the game approaches the free-to-play / play-to-earn level.

Although not everyone will be a fan of the 8-bit gameplay, it is an enjoyable experience and makes it approachable for players of all ages. However, it is worth noting there is tremendous variation in the game, as the scenery will change regularly. Additionally, the game offers multiple game modes, including solo and team-based play. The three game modes can award experience, $TANK tokens or money.

Similarities With Battle City

Upon taking a closer look at CryptoTanks, one can see an overlap with the Battle City game for Nintendo and GameBoy consoles, released in 1985. Certain elements are alike, yet CryptoTanks’s team has added mew locations, missions, tanks, battle modes, decentralized finance and non-fungible token aspects. It is a modern reboot of a cult classic that came out several decades ago.

Through CryptoTanks, players can explore a world of nostalgia while benefiting from new technology development by the cryptocurrecy community. DeFi and NFT introduce new gaming incentives, such as the ability to earn or put in-game assets to work for revenue. Players can still enjoy the iconic 8-bit graphics of Battle City but with a few modern twists. CryptoTanks, as a gamified yield farming project, combines beauty with nostalgia and guaranteed prizes.

What Are The Benefits of CryptoTanks?

Whereas other games would require players to make a significant upfront investment, CryptoTanks takes a different approach. Players can buy NFT tanks from the marketplace. Additionally, players can rent tanks from other players for a revenue share of the winnings. The third option is earning $TANK tokens by playing the game and completing objectives.

The team aims to make CryptoTanks as accessible as possible. The mobile applications for Android, combined with desktop applications for Mac OS and Windows, are a step in the right direction. Launching on iOS would be big, as mobile games are trendy these days. As players earn $TANK tokens for every game played regardless of the outcome, there will always be a way to convert playtime to real money.

The developers plan to introduce more functionality in the future. One of them would make players unique characters with personality traits. Going down that route would create a unique experience for everyone, which is unusual in the gaming industry. Whether that is feasible or not is a different matter. Assuming it is, there will be different types of classes, yet no two players in the same class will have the same experience.

Closing Thoughts

It is interesting to see more game types in the play-to-earn blockchain universe. The majority of current games are fantasy and RPG-themed, yet there are dozens of gaming genres. Combining that genre with blockchain and NFT technology can lead to innovative concepts over time.

If that experience can be made unique for every player, the industry will likely undergo tremendous growth. Developers continue to push the boundaries of what is considered possible. All of these developments will prove beneficial to video games as a whole, even if not all titles will embrace the play-to-earn model.

 

 

 

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Home Loans With Bad Credit: 3 Key Factors To Help Get Approval

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Taking on a mortgage is no trivial thing, with the debt created typically in the hundreds of thousands of dollars. For bad credit borrowers, the task of getting approved can be extra difficult, but it is worth noting that there are some mortgage providers willing to approve applicants seeking home loans with bad credit.

Of course, securing mortgage approval comes down to meeting the criteria that lenders lay down, and convincing them that monthly repayments will be made without a hitch. Happily, credit scores actually have very little to do with it, providing bad credit borrowers with a window of opportunity.

The factors relate to income and debt-to-income ratio, and so long as these matters are addressed satisfactorily, the mortgage provider is extremely likely to grant the home loan application. But what are the factors and conditions that applicants need to be aware of?

1. Bad Credit Is Not Important

The biggest mistake applicants make is to think that the credit rating they have is a hugely important factor in the approval process. It is not, and in fact only affects the interest rate that is charged. So, those seeking home loans with bad credit can feel confident of getting the funds they need.

The reality is that if the credit score is very low, the interest rate on the mortgage is going to be high. This means two things. Firstly, the credit score can affect the affordability of the deal, thus impact on the chances of securing mortgage approval.

Secondly, it means that improving your credit score can have a positive impact, lowering the interest rate and thus helping to make the home loan more affordable.

2. Securing Better Terms

Since, the scores are linked to existing debts, the best way to improve credit scores is to clear those debts. That way, the score rises and the chances of getting a home loan with bad credit are improved.

The best way to clear those debts is to take out a consolidation loan and pay them off. The original debt is replaced by a new loan, but the new terms should make it is more affordable. This can improve the debt-to-income ratio, which in turn greatly improves the likelihood of securing mortgage approval.

Alternatively, trying to clear individual debts bit by bit. This will take a much longer amount of time, and the impact is likely to be less. Remember, a down payment needs to be saved in advance of securing a home loan too.

3. Making the Mortgage More Affordable

The affordability of any loan is the crucial element in the approval process, with the debt-to-income ratio establishing whether it is or not. But since the monthly repayment sum is the key, lowering it can help make the deal affordable. When it comes to a home loan with bad credit, this may be the fastest way to making the mortgage affordable.

Accomplishing this is pretty simple. Just take out a mortgage on a longer term than usual. Extending the term from 30 years to 40 years, for example, can reduce the repayments each month by perhaps $200. And once affordability is confirmed, securing mortgage approval is a formality.

Bear in mind, however, that a home loan with a longer repayment period is going to be more expensive in the long run. The amount or interest paid over 40 years will be more than over 30 years.

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Merits of Credit Cards

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Credit cards have both advantages and disadvantages. Student cards are a new avenue of making money for the banks. They lure students into buying cards to fulfill their spontaneous cash requirements. However, this turns out to be harmful for students. They do not know which card has what benefits and thus, they do not select the right card for use. What is more, interest rates on student cards are higher than those on other credit cards. These give an easy money option for students who are staying away from their parents, in a boarding school or a student hostel. This provides a good source of easy cash in times of a cash crunch. Such cards become heavenly in times of emergency.

How to use it?

A credit card can free the holder from the headache of obtaining funds. It is a good source of all-time money. But, it is necessary to educate students which card is best for them. Student cards invariably have low credit limits. This is done to put a cap on student spending. This will make the student self-dependent and help him/her take his own decisions when it comes to deciding his needs and his wants. Normally, a student spends on books, CDs, food, clothes and electronic accessories. Student cards which are jointly issued with a parent offer two bills, one to the parent and the other to the student. This enables the parent to check the spending patterns of their ward.

Student cards are fairly easy to get. All banks are falling over themselves to issue their own credit cards to students. This normally happens with students who are joining some professional course like engineering, medical, management, etc. Students from these courses generally need cash at a short notice.

Other credit cards

There are other cards for adults, which offer many benefits to the user. Some of these benefits include no surcharge for fuel on certain petrol pumps, discounts on ticket booking on the Indian railway website, discount offers in dining at fine dining restaurants, preferential health insurance, accidental insurance benefits, discounts in film theatres, reward points on spending on the card, discounts on food at well-known outlets like Pizza Hut, Coffee Day, Dominoes, etc. Additionally, some cards also offer doctor-on-call, concierge services, cash back on paying utility bills, etc. There are a lot of credit cards from other banks or financial institutions, all of which have tie-ups with their partners through which they offer discounts to customers. Credit cards are particularly useful when we must cash at a short notice in the time of medical emergencies or calamities.

Conclusion

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How Does a Bond at SA Home Loans Work?

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SA Home Loans launched as an alternative to regular banks in 2001 and has since granted over 100 000 home loans.

Why are they such a popular alternative?  It all started when they launched in that they aggressively advertised the 2% below prime bond.

Wouldn’t you like a bond that is at 2% below prime?  Well everybody would like that, the only thing was that they couldn’t maintain that rate because their interest rates are liked to the JIBAR (Johannesburg Interbank Agreed Rate) which constantly changes.  Jibar is the average interest rate at which banks buy and sell three-month money. This rate is calculated daily by SAFEX as the average rate quoted by the various banks.

So, many people switched their home loans to SA Homeloans and were disappointed to find that they changed their rates after 3 months, but this was mainly due to lack of communication and explanation of how Jibar works.

Does SA Home Loans grant 100% bonds?

The short answer would be no.  Unfortunately they do not offer 100% bonds but only 85% of the value (in the case of a switch) or 85% of the purchase price in the case of a home purchase.

How easy is it to qualify for a loan at SA Home Loans?

Well they approach lending in a very similar way the conventional banks do.  They also do a credit check and affordability check, in line with the NCA.

So, should you go with them?  Well they do offer a good alternative to conventional banks, so why not compare them to what the other banks are offering.  Ask your originator for more details.

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