2008 was a bad time for the credit application:

“As a result of lower trading volume in the residential property market, increased interest rates for much of the year and most of the criteria ‘selective adopted by banks, lending for house purchase fell to 56 billion from 63 in 2007; reduction and ‘was more’ strong in the 2nd half of year * “.

Instead have been more requests for amendments to the contract of the loan. Subrogation and replacements have tripled compared to 2007.

Obvious sign of a difficult year for everyone, starting with the housing market that could not sell a lot to get to individual users to be able to pay the mortgage they had to find alternative solutions with your bank.

Now we are only half a year, but I am very curious to see the data in 2009 regarding the disbursement of loans and sales. A comparison would better understand the evolution of the real estate crisis to date.

And ‘the case of “Zerus Charter” means the Visa credit card balance in installments of the Duchy, which allows to reimburse expenses exceeding the 400 euro in ten convenient monthly installments at zero interest, with no burden of interest.

That is, 400.00 with a purchase of more than one ticket, this credit card allows up to a maximum of 1,500 Euros, that the expenditure be recovered in ten convenient monthly installments without interest and buying under 400 Euros instead are reimbursed at the “classic” mode and with the revolving interest payments.

Charter Zerus “is on line Internet www.cartazerus.it, may apply for online through the website www.cartazerus.it does not provide for the first year the payment of any installment of association, only the second year, is in fact provided an annual fee of 15 Euros, when in use.

The objective of the design framework is to facilitate the comparison of instruments widely distributed among users, to make more concrete the ability to change the account free of closing costs and renegotiate your mortgage without penalty, introduced by the Bersani decree.

For now, the work focuses Bankitalia Isc current account and on the opening of credit, i.e. credit limit available on the account for retail customers (who are defined as consumers, government and non-profit Small and medium enterprises with annual sales exceeding 5 million Euros). Further provisions are postponed until after the transposition of European Directive on personal credit, establishing a basis for calculating the APR also suited to funding other than consumption (the current does not include charges such as insurance mandatory on ‘property for the loans).

Since even current accounts and opening of credit may give rise to endless variations of use, the Supervisory Authority has planned three standard models (subject to change) derived from a sample survey, in which to pass the product on offer to be labeled with Isc.

For current accounts, including those online, are outlined 3 cases:

• operation at low, which has 29 movements (lines of the current account) of which 22 are fee exempt and 7 and a stock of 5,000 Euros;
• a media operation, with 131 movements (99 fee) and 10,000 Euros in stock;
• Operation at high, with 290 movements (207 fee) and 15,000 Euros in stock.

The operations include the fee asked to list the movements, cash withdrawals at the counter and ATM withdrawals at other banks, money orders, payments or payments by check, those the free, transparent communications, the sending of ‘ statement. The ISC exclude only the interest and taxes, and assumes that the consumer has not signed other financial products associated with the account, except for a credit card and debit cards. Transactions in excess, when provided, assume uniformly distributed in the year, thus their concentration could rise in time for the bill.

For overdrafts, less standard assumptions are more stringent. Bank of Italy suggests three ways to use, with a base of 10 thousand Euros of exposure for a period of three months, one for the full amount for 29 days, partial for 30 continuous days (1,000 Euros for 29 days and 5,000 Euros for a day), one always partial, but with a different intensity over time (1,000 Euros for 29 days and 10 thousand Euros for a day). This is because Isc opening of credit can affect significantly the commission of maximum overdraft, as well as interest expenses, the fees and expenses of investigation of the practice of trust.

The ISC be provided in information sheets to be delivered to customers cannot be exhaustive because of their different needs and therefore Bankitalia encourages brokers to make available online schemes that allow a calculation of Isc customized.

In practice, the paper provides the same services revolving card balance, but has the characteristic of “contain” a trust, i.e. a loan. This paper offers the opportunity to spend money independently of the available funds to the account and repay its debt in installments.

Difference credit card compared to a traditional view is that payment is not made immediately to purchase the paper but in a longer period agreed in the contract. So you buy now but pay later with an obligation to pay off the debt at interest rates that now has come to touch the 17-20%.

The “Blue American Express”, the paper “Barclaycard”, the “Charter Aura” of “Findomestic Bank” and the paper “Bancoposta rechargeable” offered by Italian Post Office, but managed by Agos, are some of the most famous revolving simulative shopping, often forgetting that at the conclusion of the contract has established an upper limit, known as “trust”, beyond which you cannot go, on penalty of commission salty.

When you request a revolving credit card should carefully consider the actual cost related to the possession and use of services it provides, even if it is not always easy to see how much really, because the assets are numerous (interest charges, annual expenses, costs of collection installment), and are not easily integrated into a single measure of cost.

The technology called Near Field Communication and the first to use it will be Visa and Nokia.
With this coupled inside our cell phones will be installed this simple. A reader will allow us only bringing the phone to make payments and withdraw money from distributors.

No need to type numbers in the POS or spend the magnetic card into the reader. An identification code will enable the function on your phone and make payment.

In case of theft, thanks to this code, you cannot use the phone for a payment. Also in the case of a possible scam, now you can also trace the owner of the “means of payment” when insert a sim or installing burglar alarms for different phones equipped with GPS or not.

The technology seems very comfortable and hopefully uses it in many, but I wonder what will be standard. I.e. the spread will be only for Nokia or other manufacturers will adopt this innovation?

The idea I like and I hope will be incorporated into projects not only for all lending institutions, but also for the cards of supermarket items, video rentals, and any store that takes a magnetic card system.