Sunday, April 6, 2008
Credit Cards: What is the Universal Default Clause?
Most people who carry major credit cards are well aware that the interest rates associated with them tend to be higher than for other types of lending, such as home or auto loans. Anyone who has paid their credit card bill late more than once or twice is also aware that doing so may cause the interest rate on their card to go up sometimes by quite a lot. Many credit cards carry interest rates of as much as 20% or 25% annually, and customers who want to avoid interest rates in that range make an effort to pay their bills on time.
What many people do not realize, however, is that up to one third of all credit card issuers now include what is known as a universal default clause in their bills. This information, usually disclosed in the tiny print on the bill that few people bother to read, indicates that the interest rate on your credit card may be increased if you pay bills late to other lenders, even if you pay your credit card bill on time.
This means that paying any bill late that could show up on your credit report, such as an auto payment or a utility bill could cause your credit card interest rate to go up. This, in turn, could hurt your credit score. There is currently nothing in Federal law that prohibits this practice; the law only requires that lenders disclose it in writing. Credit card companies justify this by saying that customers that make late payments to anyone increase the risk for all lenders. Nevertheless, many, if not most, credit card customers are unaware that such policies exist.
Not all credit card companies have such a policy; in fact, most do not. Customers who are not interested in having the interest rates of their credit card tied to their ability to pay their phone bill on time would be advised to read the fine print in their credit card statement. If such a policy exists, you could either complain to your credit card issuer about it or shop around for another credit card. The lesson to be learned here is a valuable one when you receive your credit card bill or a notification that your credit card billing terms have changed, take a moment to read the fine print.
Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and HomeEquityHelp.net, a site devoted to information regarding home equity loans.
Fasttrack To Video Editing - Part 01
Video Editing is the process of modifying segments of video hots to form another piece of video. Editing is one the fundamental steps of the post production process. Other tasks include titling, color correction, sound mixing, and more.
The term "editing" involves the following:
1. Modifying sections of video and/or audio clips.
2. Applying color correction, fx filters, and sound filters.
3. Adding video transistions between clips.
The Purpose of Editing.
There are several reasons to edit a video and your editing techniques will depend on the situation. Before you begin a project, you must understand your editing goals.
Eliminate Unwanted Footage.
This is the most basic task of editing. Cutting out flawed or unwanted takes can significantly improve your video.
Select The Best Footage.
It's quite normal to shoot alot more footage than you actually need. Often you will shoot several takes of a shoot and choose the best one when editing.
Pacing and Creating A Flow.
The majority of videos serve a purpose such as telling a story or providing entertainment. Editing is one of the most important procedures in making sure the video is paced in manner that achieves this goal.
Add Visual Effects, Graphics, and Music.
This is often referred to as the fun part of editing. Great title designs and music integration can separate an amateur video from a masterpiece.
Set The Tone or Mood.
A talented editor will be able to create subtle changes in mood and atmosphere. The use of music, sound effects, and color can influence how an audience may respond.
Adding The Angle.
Video is a compelling format to express a viewpoint or message.
Stay tuned for Part 02 as we go into the details of the different types of video editing ...
Mark Pommett is a producer of wedding videos in Los Angeles. He has over a decade of experience as a professional videographers. Click here for free video training and videography lessons.
