Free Articles  >>  Business And Finance >>  Page 2965  >> 

Offshore Credit Card Mistakes You Wish You Never Made

Everyone knows how hard it is to get a functional offshore credit card that's also half-way private.

It's not your fault.

Legislation like the patriot act makes it intentionally difficult for anyone to be secretive, regardless of whether the activity is illegal or not. Of all offshore transactions, an incredibly small number are illegal, yet offshore banking and the desire for privacy are routinely censured and dumped into the same basket as money-laundering.

Getting your offshore credit card or offshore debit card can be as easy or as difficult as you wish to make it. Fortunately, by the end of this article you will be much better prepared for the journey ahead.

If you are looking for privacy, ease-of-use and a card that actually works, avoid these 5 offshore credit card mistakes.

1) Getting a card that's issued in the wrong country. Its all well and good getting an ''offshore credit card'' from an offshore bank. But where is the card actually issued? If it's in a jurisdiction which has information exchange treaties with your home country, this is not a good idea. The best countries for card issue will be those with strong bank secrecy, good banking and little connection to your domicile.

2) Using your card at home. If the whole point of purchasing your offshore credit card is to prevent 3rd parties from discovering who you are, don't use your card at home. You may have the most high-tech anonymous unembossed card available, but that won't stop individual retailers or the cameras at an atm from recording you.

3) Cards with limited usability. Offshore credit cards issued by an offshore bank in a blacklisted jurisdiction may offer little functionality. Maybe it will be difficult for you to fund your card account because of the tax haven's reputation, or even worse your transactions may be automatically flagged as suspicious. Then again, some bank cards issued out of tax havens with undeveloped banking may not even work internationally.

4) Cards issued in your own name. If privacy is not a great issue, then a card that bears your own name will not represent much problem. But I would guess that for the majority of those reading this article, confidentiality is key. In this case, the best type of card will be that issued in the name of an offshore company, or one that bears no-name at all. The advantage of the company card is that transactions made with it are company transactions, more so if you are not a beneficial owner or director of the offshore company. A no-name or ''unembossed'' card offers the advantage of not revealing anything more than a card number when swiped. Your financial identity remains secret.

5) Cards with low transaction limits. If there's any advice you can take away from this article it is ''read the small print''. So you pay several hundred dollars for a credit card thinking that it will be possible to buy your dream automobile or yacht with your shiny new plastic, but then you find out the purchase limits are tiny or the card loading and ATM fees are phenomenal. If this is the case, you may begin to wonder if it was worthwile getting an offshore credit card in the first place. Ensure that the credit card has decent purchase limits, that you can use it online, in shops, restaurants and gas stations, and that almost any ATM worldwide will accept it. The best way to achieve this is to get a brand name bank card like an offshore visa or offshore mastercard.

Perhaps after reading this, you may have decided that getting an offshore credit card isn't right for you. But if you do decide to get your card, you can now enter into a discussion with offshore service providers and other vendors with greater confidence, and knowledge of what seperates a card of true value from a rip-off.

About Author Patrick Winters :

The Capital Conservator offshore credit card is your ''ultra-private'' financial tool. Use your card online, at PoS or to withdraw cash at more than 3 million ATM's worldwide. Choose from our standard or high-limit models. Confidential. Guaranteed. By Law. <a href="" target="_blank"></a>

Article Source:
Article Url:

Article Added on Sunday, October 18, 2009
Other Articles by Patrick Winters

Use an Offshore Credit Card Like Visa or Mastercard To Enjoy Instant Access To Offshore Wealth
Opening an offshore account and then actually having convenient access to it can be expensive and time-consuming. Despite what you may have read or heard, owning an offshore credit card is not illegal. Of course, using one as part of a tax evasion strategy is against the law. Most offshore investors will not want to carry suitcases full of cash across borders, so a card that its part of a recognized network like an offshore Visa or offshore Mastercard is often the best option. From personal...

Offshore Credit Cards Debit Cards and Secured Cards
One of the problems most investors come across once they have moved offshore is how to repatriate their offshore funds. Sending wires directly back to your home bank account could involve dangerous invasions of privacy whereas physically going to your offshore bank and withdrawing cash may also breach customs restrictions and invite the risk of theft. For larger payments, you could ask your offshore bank to wire funds directly to the vendor but the time and effort this involves would not be...

Getting a Secret Offshore Bank Card
The easiest and most cost-effective way of withdrawing funds from your secret offshore account will almost certainly be through the use of an offshore bank card. Used in the right way, offshore bank cards can execute financial transactions that leave almost no trace of your identity, but, generally speaking, the larger the transaction the harder it is to keep secret. The cheapest card you might get can be a gift card, which is paid for upfront. You may be able to load up to 1000USD on to...

5 Steps to Offshore Incorporation
Offshore incorporation can be a minefield for the unprepared. Save time and money by following this simple 5 step process. 1. Get a crystal clear idea of WHY you want to incorporate offshore. Is it to protect your identity? Protect your assets? Protect yourself from excessive liability to taxes? The place where you incorporate and HOW you incorporate will all depend heavily on your goals. This is not a simple question and the best idea is to contact a tax attorney before you start giving away...

Secret Offshore Bank Account Is It Possible
? Secret offshore bank accounts are the stuff of legend. This article intends to debunk some of the myths about secret offshore banking by setting out what is and isn't possible. 1) It's impossible to open an offshore bank account without first somehow identifying yourself. This means sending a notarized copy of your bank account/passport details to the bank or intermediary. 2) Most offshore banks will also require a reference from a bank at home. 3) If you open an offshore account in the name...

Internet Offshore Banking Open an Offshore Account the Easy Way
Offshore banking is nothing more complicated than banking in a country where you are not a citizen or resident. If you live in the US, banking in Canada is just as much offshore as banking somewhere more exotic like the Caribbean or a Pacific island. Unfortunately, some of the countries which offer most benefits to the offshore investor are not always close to home. The benefits of offshore banking have been clear for decades, but usually only available to the very rich. You may imagine...

Use Offshore Factoring To Slash 70 Off Your Small Business Tax Bill
How often do you find yourself buying things at the end of the year that you really don't need because you'd rather not give your money to the tax man? What if there was a way to virtually CONTROL how much you paid in taxes each year...WITHOUT spending money on things you don't need. Non-Recourse Factoring is one of the more powerful, yet simplistic strategies you can implement to get tax savings and asset protection for your small to medium sized company that rivals that of the large...

Offshore Asset Protection Secrets They Don t Want You To Know
For every moderately affluent person there comes the time to start thinking about the future: namely asset protection and preparing for the worst. Although we can all hope for the best, life shows us that those who are prepared win time and time again. Its not just the incredibly rich who have to think about these things, these days it's anyone who actually earns money that may find himself in danger of getting framed and railroaded by a lawyer or inept government official. The ways that...

Offshore Banking Outsmart the Fat Cat Establishment
It's common knowledge that almost all big companies and the wealthiest people in the world use offshore banking to supplement their expanding waistlines. No one wants to see their hard earned money being swindled away by an inept government but the problem comes when governments themselves reward these fat cats for failure. The CEO's and chairmen of huge corporate banks have knowingly used offshore subsidiaries to restructure their organizations to be more 'tax efficient'. Then afterwards the...

Legal Offshore Bank Accounts That Keep Your Identity Secret
The offshore banking dream is persistent. When people think of offshore bank accounts they think of yachts, fast cars and perhaps a balmy tax have lifestyle to complement it. Maybe it involves moving to another country entirely, life in a far land supported by a swiss bank account. One of the hardest first steps is finding offshore banking that you can trust. But offshore bank accounts are made hard to find by design, and the primary stages during offshore account opening can be treacherous....

Click here to see More Articles by Patrick Winters
Publishers / Webmasters
Article ID: 176824
DELINK URL from Authors Bio
REMOVE Article
Tell A Friend
Leave A Comment!
Download this article in PDF
Report Article!
Search through all the articles:

237 Users Online!!
Related Articles:
Latest Articles:
Business And Finance >> Top 50 Articles on Business And Finance
Category - >
Advertising Advice Affiliate Programs Automobiles
Be Your Own Mentor Careers Communication Consumers
CopyWriting Crime Domain Names DoT com Entrepreneur Corner
Ebooks Ecommerce Education Email
Entertainment Environment Family Finance And Business
Food & Drink Gardening Health & Fitness Hobbies
Home Business Home Improvement Humour House Holds
Internet And Computers Kiddos and Teens Legal Matters Mail Order
Management Marketing Marriage MetaPhysical
Motivational MultiMedia Multi Level Marketing NewsLetters
Pets Psychology Religion Parenting
Politics Sales Science Search Engine Optimization
Site Promotion Sports Technology Travel
Web Development Web Hosting WeightLoss Women's Corner
Writing Miscellaneous Articles Real Estate Arts And Crafts

Disclaimer: The information presented and opinions expressed in the articles are those of the authors
and do not necessarily represent the views of and/or its owners.

Copyright AwareINDIA. All rights reserved || Privacy Policy || Terms Of Use || Author Guidelines || Free Articles
FAQs Link To Us || Submit An Article || Free Downloads|| Contact Us || Site Map  || Advertise with Us ||
Click here for Special webhosting packages for visitors of this website only!
Vastu Shastra

Bulk Email Solutions India Provided By AwareIndia

Company IDS