ALLIANCE BUSINESS SCHOOL

Alliance Business School (formerly known as Alliance Business Academy) is the FIRST and still the only B-School in India to be accredited internationally by the International Assembly for Collegiate Business Education, USA. Recognizing the potential of ALLIANCE to be a world-class institution, the International Assembly for Collegiate Business Education has nominated ALLIANCE to represent the Assembly in the Asian Region (Region 12).

           Among all the best B schools including IIM's , Alliance stands 21st in its ranking (Source: Outlook survey, Business Today ,OPEN Magazine, Volume 1, Number 24, September 12 – 18 2009).

ALLIANCE is the FIRST B-School outside the USA to be recognized with the “Gold Award” for TQM Implementation by the American Society for Quality, USA, the world’s foremost body of Quality Professionals. The honor was accorded at the National Quality Education Conference held at Reno, Nevada, USA in November 2008.

           The strategic architecture of ALLIANCE to achieve its avowed mission and vision rests on four strong pillars:

Student Centeredness.

          Excellence in Teaching and Scholarly Research Contemporary and Relevant Executive Education and Development Engaged Citizenship in the Community that ALLIANCE serves Focusing on Innovation, Continuous Improvement and a Service Orientation, ALLIANCE is committed to making a difference to all of its stakeholders. As part of its drive to being a world-class organization, ALLIANCE is currently involved in pursuing multiple global accreditations and enhancing the canvas of its international cooperation, even while strengthening its internal competencies in terms of people and resources

           ALLIANCE offers several rigorous academic programs. The flagship program of Alliance Business School is the PGPM with a global perspective and focus. The PGPM is designed to equip its graduates with the knowledge and skills that will enable them to be successful as managers and/or entrepreneurs.

           The programs offered by ALLIANCE revolve around the principle that world-class business leaders are not mass-produced. At ALLIANCE they are nurtured and developed with individualized care and attention, in small work groups and teams, and in a practical, application-oriented and user-friendly environment. There is a strong emphasis on project work. The programs at ALLIANCE lay the foundation for strong conceptual and analytical reasoning, and give students an insight into the dynamics of the increasingly global business environment. ALLIANCE prepares its graduates to manage and lead in today's complex, competitive and dynamic global economy.

           Developing skills in leading and teamwork is an important facet of ALLIANCE programs, which anticipates the changing practices of many of today's successful organizations. The interactive skills of effective communication, conflict management, negotiation and mobilizing individuals towards common goals are the essential ingredients of effective management education which are comprehensively incorporated into the curriculum at ALLIANCE.

International Programs

          ALLIANCE Business School has a range of articulation agreements with accredited universities and business schools across the world. While some are specific in terms of allowing students to complete an internship or a semester and transfer the credits earned, others are generic – allowing for student and faculty exchanges, collaborative research and exchange of curriculum.

            The following are some of the universities with which ALLIANCE has collaborative arrangements:

  1. American Management Association

  2. American Marketing Association

  3. American Society for Quality                               

  4. Strategic Management Society

  5. European Institute for Advanced Studies in Management

  6. Harvard Business School Publishing

  7. The Free Press

  8. Emerald Publishing

BRITISH UNIVERSITIES

          British universities offer a wide range of degree and higher diploma courses in Civil Engineering and related areas, such as Construction Management and Structural Engineering.

           Most B.Eng. and M.Eng. courses are accredited by the Joint Board of Moderators, representing the relevant professional engineering institutions (Institution of Civil Engineers, Institution of Structural Engineers, Chartered Institution of Building Services Engineers). Successful completion of these accredited courses gives exemption from the academic examinations leading to Chartered Engineer status. Construction Management courses are frequently accredited by the Chartered Institute of Building. Similarly, a higher diploma (HND) will lead to Incorporated Engineer status, or may be accepted for progression to a degree course, often with exemption from at least one year of study.

        The U.K. professional bodies are recognized around the World and accredited U.K. degrees are accepted for entry to the engineering professions in most countries. A U.K. degree therefore provides a global passport to a rewarding professional career in civil engineering. The demand for qualified civil engineers and construction managers is very strong, and in many parts of the world, the salaries offered to young construction professionals are amongst the highest of any graduate group. They may be involved in a very wide range of projects, ranging from highways, railways, bridges and tunnels, through to the responsibility for the structure and foundations of major buildings, dams, water supply, irrigation and public health schemes, and many more too numerous to list. Because of its role in the design, construction and operation of the major infrastructure systems on which society depends, the industry provides an exciting, challenging, satisfying and fulfilling career.

             The range of courses offered in U.K. is very broad. Some universities offer courses in engineering science, which may involve general study of all areas of engineering for the first two years, followed by specialization in later years. Others offer courses that are specific to civil engineering throughout. These normally entail three years of study for a B.Eng. and four years for an M.Eng. Some universities also offer "sandwich courses" which incorporate a year of structured and supervised professional training in the industry in addition to the academic study. The range, style and emphasis of course provision in different universities varies widely, from those with a strong emphasis on basic theory through to courses with more emphasis on engineering and construction management practice. Potential students should therefore find out as much as possible about the style of each course so that they apply for those which suit their interests and career aspirations.

               Some Universities, offer a range of interlinked courses at HND and degree level. These cover civil engineering, structural design and construction management, whilst others may focus on only one degree course. A coordinated program of courses allows students to progress from HND to degree level study and to change the emphasis of their study should they wish to do so. I am a strong advocate of the sandwich course and the University of Teesside, for example, provides good support for students to find them salaried sandwich training placements in U.K. and overseas and monitor their professional development during the placement. The benefits of such placements include increased commitment to final year studies, resulting in improved degree classifications, and enhanced employment prospects at the end of the course. In these days of tight student budgets, the income earned during the year also helps to ease the financial pressures during final year.

         Thus the U.K. has a great deal to offer potential students in civil engineering and other construction related areas. Any university will be happy to provide detailed information on its particular course provision in the area and course tutors will be willing to explain the particular features of their courses to potential applicants.

          If you've decided to go abroad for studies then you have to start preparing your plans.

Choose the Course
 
          While choosing the course you plan to take, be sure that you are really interested in that course. Try taking the full advantage of the nation where you've planned to study in. If you're planning to study in US, then the American History or some similar like that may be the most advantageous course that you choose because about US history, no other country can teach better than US itself.

Arrange Accommodation
 
        Deciding where to stay depends on what type of course that you are choosing. If you're planning to take the course related to language or culture of that particular nation where you are going the it will be better for you to stay with the Host Family. This will help you to learn the language, culture and even day to day live of their society.

But if you are planning take technical courses then it will be better for you to stay in shared compartments. This will minimize your living cost.

Travel Documentation
 
             Make sure that your passport is valid at least for six months after your return date. If not so, apply for renewal. If you still don't have passport then apply for it. Also prepare other documents that may help you to get visa as soon as possible.

Keep in touch
 
           E-mail service is the Cheapest and Quickest way to stay in touch with friends and family from the country you are studying in. So it is recommended to have one Email Account. If you don't have one, make it free with various service providers like HotMail - www.hotmail.com, Yahoo - mail.yahoo.com, Gmail - www.gmail.com etc. Be sure, these days internet can be accessed from every corner of the earth. Even the university or college where you are planning to study may provide you the free internet service. Don't forget to distribute you e-mail address among your friends and family so that they can contact you when they need.  
   Purchasing a Calling card before leaving for abroad is also not a bad idea.

Collect more Information
 
            Collect information as much as possible about the country for which you are leaving. Make contact with the friends or students who are already there to know about the social condition, climate and other information like Job Opportunities there. Talking about United States, there is shortage of part time jobs in States like - Alabama. So Be Careful,

FINANCE COURSE ABROAD

Finance Course Descriptions

The following are brief course descriptions as found in the University Registrar. More detailed information can be found in the Wharton Undergraduate Website, the MBA Resource Guide, or on our Course Syllabi Page.

FNCE 100
Corporate Finance
This course provides an introduction to the theory, the methods, and the concerns of corporate finance. The concepts developed in FNCE 100 form the foundation for all elective finance courses. The main topics include: 1) the time value of money and capital budgeting techniques; 2) uncertainty and the trade-off between risk and return; 3) security market efficiency; 4) optimal capital structure, and 5) dividend policy decisions. Prerequisites: ECON 001, ECON 002 (ECON 010 ongoing from Class of 2010), and MATH 104.
Co-Requisites : ACCT 101, STAT 101.

FNCE 101
Monetary Economics and the Global Economy
This is an intermediate-level course in macroeconomics and the global economy, including topics in monetary and international economics. The goal is to provide a unified framework for understanding macroeconomic events and policy, which govern the global economic environment of business. The course analyzes the determinants and behavior of employment, production, demand and profits; inflation, interest rates, asset prices, and wages; exchange rates and international flows of goods and assets; including the interaction of the real economy with monetary policy and the financial system. The analysis is applied to current events, both in the US and abroad.

Prerequisites: ECON 001, ECON 002 (ECON 010 ongoing from Class of 2010), and MATH 104.
Students cannot receive credit for both FNCE 101 and ECON 102. Wharton students are required to take FNCE 101.
 
FNCE 103
Business Economics
This course covers introductory microeconomics and macroeconomics with particular attention given to global and long-run growth issues. The microeconomic portion introduces the discipline and fundamental tools of economics. It proceeds to study the workings of a price system and theories of consumer and firm decision-making. It further analyzes particular market structures characterized by perfect and imperfect competition, reviews the strengths and weaknesses of a market economy, and considers the government's role in correcting market failures and promoting competition. The macroeconomic portion studies the domestic and international forces that govern the determination of the aggregate level of economic activity, and pays particular attention to the determinants of long-run economic growth and stabilization policies used to dampen business cycles. The course concludes with global issues including the determinants of trade, trade policy, capital mobility, international financial instability, and international economic integration and the extent of globalization.

Prerequisites: FRESHMAN JOSEPH WHARTON HONORS SCHOLAR STUDENTS ONLY, Non-Honors students need permission.
 
FNCE 203
Advanced Corporate Finance
The objective of this course is to study the major decision-making areas of managerial finance and some selected topics in financial theory. The course reviews the theory and empirical evidence related to the investment and financing policies of the firm and attempts to develop decision-making ability in these areas. This course serves as a complement and supplement to FNCE 100. Some areas of financial management not covered in FNCE 100 are covered in FNCE 203. These may include leasing, mergers and acquisitions, corporate reorganizations, financial planning and working capital management, and some other selected topics. Other areas that are covered in FNCE 100 are covered more in depth and more rigorously in FNCE 203. These include investment decision making under uncertainty, cost of capital, capital structure, pricing of selected financial instruments and corporate liabilities, and dividend policy.

Prerequisites: FNCE 100, FNCE 101.

FNCE 205
Investment Management
This course is designed to acquaint the student with the concepts of portfolio analysis in the general area of institutional investment management. The course discusses principles for managing financial assets. These principles apply, for example, to managing corporate pension funds, bank-administered trust, and other institutional funds. Students will learn how to establish appropriate investment objectives, develop optimal portfolio strategies, estimate risk-return tradeoffs, and evaluate investment performance. Many of the latest quantitative approaches are discussed.

Prerequisites: FNCE 100, FNCE 101, STAT 101-102. 

FNCE 206
Financial Derivatives
The purpose of this course is to provide the student with the necessary skills to value and to employ options, futures, and related financial contracts. In order to provide a useful treatment of these topics in an environment that is changing rather rapidly, it is necessary to stress the fundamentals and to explore the topics at a technical level. The topics that will be covered include the valuation of futures contracts on stock indices, on commodities and Treasury instruments; the valuation of options; empirical evidence; strategies with respect to these assets; dynamic asset allocation strategies, of which portfolio insurance is an example; swaps; and the use (and misuse) of derivatives in the context of corporate applications. One-third of the course will be devoted to futures, a third to options, and a third to their applications. Many of the applications will be sprinkled along with the coverage of futures and options.

Prerequisites : FNCE 100, FNCE 101, STAT 101-102. The prerequisites cannot be taken concurrently. 

FNCE 207
Corporate Valuation
The focus of this course is on the valuation of companies. Topics discussed include discounted cash flow techniques and valuation using alternative valuation techniques such as price multiples. Emphasis is on developing the required information for valuation from financial statements and other information sources.

Prerequisites: FNCE 100, FNCE 101, and STAT 101-102 (Financial accounting, ACCT 201, recommended). 

FNCE 208
International Corporate Finance
Analyzes financial problems corporations face that result from operating in an international environment. Major topics covered are corporate strategy and the decision to invest abroad, forecasting exchange rates, international portfolio diversification, managing exchange risk, taxation issues, cost of capital and financial structure in the multinational firm, and sources of financing.

Prerequisites: FNCE 100, FNCE 101. 

FNCE 209
Real Estate Investment: Analysis and Financing
This course provides a broad introduction to real estate with a focus on financing issues. Basic project evaluation, financing strategies, and capital markets issues related to real estate are covered. No prior knowledge of the industry is required, but students are expected to rapidly acquire a working knowledge of real estate markets.  

Prerequisites: FNCE 100.

FNCE 219
International Financial Markets
This course focuses on international financial markets and exchange rates. Topics include pricing in the foreign currency and Eurocurrency markets, use of forward exchange for hedging, short-term returns and market efficiency in the international money markets, foreign currency options, international capital asset pricing, pricing of foreign currency bonds, currency swaps, Eurocurrency syndicated loans, foreign currency financing and exposure management.

Prerequisites: FNCE 100, FNCE 101, STAT 101.

FNCE 220
International Banking
This course focuses on international financial institutions and international banking activities. We will examine how current and historical events are reshaping the industry. We will focus on the basic analytics of managing a bank's exposure to liquidity, credit, market and country risk. In addition, we will consider how to evaluate and compare the risk exposures and performance of individual banks. Throughout the semester we will discuss public policy issues such as international debt crises and regulation

Prerequisites: FNCE 100, FNCE 101. 

FNCE 230
Urban Fiscal Policy
A detailed examination of the financing of local governments, suburbs, and center cities within the metropolitan economy.

Prerequisites: FNCE 101.

FNCE 235
Fixed Income Securities
FNCE 235 is a rigorous study of fixed income securities, including default-free bonds, floating rate notes, and corporate bonds. Closely related financial instruments such as forwards and futures on fixed income securities, bond options, and interest rate swaps are also examined. In addition to analyzing specific types of fixed income securities, there will be an examination of the tools used in bond portfolio management.

Prerequisites: FNCE 100, FNCE 101.

FNCE 238
Funding Investments
This course examines the available corporate securities that firms can use to finance investment. The course will focus on: (1) the design of these securities (Why do bonds have embedded options? What is the role of preferred stock?); (2) the issuing process for these securities (What do investment banks do? Is the underwriting process important for the cost of capital?); (3) the pricing of these securities (How are credit risk in bonds and loans priced?) The securities covered include corporate and junk bonds, bank loans, common and preferred equity, commercial paper, securitization, as well as some recent innovations. Other topics include: the role of embedded options in corporate bonds; the role of bank and loan covenants; the function of bond rating agencies; exchange offers; prepackaged bankruptcies; bankruptcy in Chapter 11; workouts; debtor-in-possession financing; and pricing credit risk. The course is designed to be complementary to Advanced Corporate Finance and Fixed Income Securities.

Prerequisites: FNCE 100, FNCE 101.

FNCE 239
Behavioral Finance
There is an abundance of evidence suggesting that the standard economic paradigm – rational agents in an efficient market – does not adequately describe behavior in financial markets. In this course, we will survey the evidence and use psychology to guide alternative theories of financial markets. Along the way, we will address the standard argument that smart, profit-seeking agents can correct any distortions caused by irrational investors. Further, we will examine more closely the preferences and trading decisions of individual investors. We will argue that their systematic biases can aggregate into observed market inefficiencies. The second half of the course extends the analysis to corporate decision making. We present the two themes of behavioral corporate finance: rational managers exploiting financial market inefficiencies and managerial decision-making biases. We then explore the evidence for both views in the context of capital structure, investment, dividend, and merger decisions.

Prerequisites: FNCE 100, FNCE 101. Recommended: FNCE 203.


FNCE 250
Venture Capital and the Finance of Innovation
This course covers the finance of technological innovation, with a focus on the valuation tools useful in the venture capital industry. These tools include the “venture capital method”, comparables analysis, discounted cash flow analysis, Monte Carlo simulation, contingent-claims analysis, decision trees, and real options. The primary audience for this course is finance majors interested in careers in venture capital or in R&D-intensive companies in health care or information technology.

Prerequisites: FNCE 100, FNCE 101.

FNCE 251
The Finance of Buyouts and Acquisitions
The focus of this course is on buying (or acquiring controlling stakes in) firms. The main topics to be covered are mergers and friendly acquisitions, hostile takeovers and buyouts. Using case studies, the course surveys the
drivers of success in the transactions. While issues regarding motive and strategy will be discussed, financial theory would be the main lens used to view these control acquiring transactions. The objective is two fold: (1)
Develop a concept and translate that idea into a proposal through deal design; and (2) analyze to form opinions about proposed deals. The course should be of interest to students interested in pursuing careers as private equity investors, advisors in investment banking and corporate managers that deal with these issues. This course will be demanding and assumes familiarity with valuation analysis.

Prerequisites: FNCE 100, FNCE 101.

FNCE 399
Supervised Study in Finance
Integrates the work of the various courses and familiarizes the student with the tools and techniques of research.
 
Prerequisites: Senior standing, 3.4 grade point average, and permission of a Finance Department standing faculty member.


FNCE 601
Corporate Finance
This course serves as an introduction to business finance (corporate financial management and investments) for both non-majors and majors preparing for upper-level course work. The primary objective is to provide a framework, concepts, and tools for analyzing financial decisions based on fundamental principles of modern financial theory. The approach is rigorous and analytical. Topics covered include discounted cash flow techniques; corporate capital budgeting and valuation; investment decisions under uncertainty; capital asset pricing; and market efficiency. The course will also analyze corporate financial policy, including capital structure, cost of capital, dividend policy, and related issues.
 
Prerequisites: ACCT 620 or ACCT 621.
Co-Requisites: MGEC 621 and STAT 621 prerequisite or concurrent.

FNCE 602
Macroeconomics and the Global Economic Environment
This course is required of all students except those who, having prior training in macroeconomics, money and banking, and stabilization policy at an intermediate or advanced level, can obtain a waiver either by credentials or by passing an examination. The purpose of FNCE 602 is to train the student to think systematically about the current state of the economy and macroeconomic policy, and to be able to evaluate the economic environment within which business and financial decisions are made. The course emphasizes the use of economic theory to understand the workings of financial markets and the operation and impact of government policies. Specifically, the course studies the determinants of the level of national income, employment, investment, interest rates, the supply of money, inflation, exchange rates, and the formulation and operation of stabilization policies.

FNCE 717
Financial Derivatives
The purpose of this course is to provide the student with the necessary skills to value and to employ options, futures, and related financial contracts. In order to provide a useful treatment of these topics in an environment that is changing rather rapidly, it is necessary to stress the fundamentals and to explore the topics at a technical level. The topics that will be covered include the valuation of futures contracts on stock indices, on commodities and Treasury instruments; the valuation of options; empirical evidence; strategies with respect to these assets; dynamic asset allocation strategies, of which portfolio insurance is an example; swaps; and the use (and misuse) of derivatives in the context of corporate applications. One-third of the course will be devoted to futures, a third to options, and a third to their applications. Many of the applications will be sprinkled along with the coverage of futures and options.

Prerequisites: FNCE 601, FNCE 602, STAT 621 (these courses may not be taken concurrently).

FNCE 719
International Financial Markets
FNCE 719 is a course on international financial markets and exchange rates. Topics include pricing in the foreign currency and Eurocurrency markets, use of forward exchange for hedging, short-term returns and market efficiency in the international money markets, foreign currency options, international capital asset pricing, pricing of foreign currency bonds, currency swaps, Eurocurrency syndicated loans, foreign currency financing and exposure management.

Prerequisites: FNCE 601, FNCE 602 (FNCE 602 may be taken concurrently, but not FNCE 601).

FNCE 720
Investment Management
This course is designed to acquaint the student with the concepts of portfolio analysis in the general area of institutional investment management. The course discusses principles for managing financial assets. These principles apply, for example, to managing corporate pension funds, bank-administered trusts, and other institutional funds. Students will learn how to establish appropriate investment objectives, develop optimal portfolio strategies, estimate risk-return tradeoffs, and evaluate investment performance. Many of the latest quantitative approaches are discussed
.
Prerequisites: FNCE 601, FNCE 602, STAT 621.

FNCE 721
Real Estate Investment: Analysis and Financing
Also listed under Real Estate as REAL 721. This course provides a broad introduction to real estate with a focus on financing issues. Basic project evaluation, financing strategies, and capital markets issues related to real estate are covered. No prior knowledge of the industry is required, but students are expected to rapidly acquire a working knowledge of real estate markets.

Prerequisite : FNCE 601.
Materials: Coursepack and a recommended text (varies by instructor).

FNCE 725
Fixed Income Securities
FNCE 725 is a rigorous study of fixed income securities, including default-free bonds, floating rate notes, and corporate bonds. Closely related financial instruments such as forwards and futures on fixed income securities, bond options, and interest rate swaps are also examined. In addition to analyzing specific types of fixed income securities, there will be an examination of the tools used in bond portfolio management.

Prerequisite: FNCE 601, FNCE 602.

FNCE 726
Advanced Corporate Finance
The objective of this course is to study the major decision-making areas of managerial finance and some selected topics in financial theory. The course reviews the theory and empirical evidence related to the investment and financing policies of the firm and attempts to develop decision-making ability in these areas. This course serves as a complement and supplement to FNCE 601. Some areas of financial management not covered in FNCE 601 are covered in FNCE 726. These may include leasing, mergers and acquisitions, corporate reorganizations, financial planning and working capital management, and some other selected topics. Other areas that are covered in FNCE 601 are covered more in depth and more rigorously in FNCE 726. These include investment decision making under uncertainty, cost of capital, capital structure, pricing of selected financial instruments and corporate liabilities, and dividend policy.

Prerequisite: FNCE 601, FNCE 602.

FNCE 728
Corporate Valuation
The focus of this course is on the valuation of companies. Topics discussed include discounted cash flow techniques and valuation using alternative valuation techniques such as price multiples. Emphasis is on developing the required information for valuation from financial statements and other information sources.

Prerequisites: Minimum of normal first-year courses in accounting, economics, statistics, and FNCE 601, FNCE 602 (further coursework in financial accounting such as ACCT 742 is very useful).

FNCE 730
Urban Fiscal Policy
The purpose of this course is to examine the financing of governments in the urban economy. Topics to be covered include the causes and consequences of the urban fiscal crisis, the design of optimal tax and spending policies for local governments, funding of public infrastructures and the workings of the municipal bond market, privatization of government services, and public financial systems for emerging economies. Applications include analyses of recent fiscal crises, local services and taxes as important determinants of real estate prices, the infrastructure crisis, financing and the provision of public education, and fiscal constitutions for new democracies using South Africa as an example.

Prerequisites: MGEC 621, FNCE 601.

FNCE 731
International Corporate Finance
This course analyzes financial problems corporations face that result from operating in an international environment. Major topics covered are corporate strategy and the decision to invest abroad, forecasting exchange rates, international portfolio diversification, managing exchange risk, taxation issues, cost of capital and financial structure in the multinational firm, and sources of financing.

Prerequisites: FNCE 601, FNCE 602.

FNCE 732
International Banking
This course focuses on international financial institutions and international banking activities. We will examine how current and historical events are reshaping the industry. We will focus on the basic analytics of managing a bank's exposure to liquidity, credit, market and country risk. In addition, we will consider how to evaluate and compare the risk exposures and performance of individual banks. Throughout the semester we will discuss public policy issues such as international debt crises and regulation.

Prerequisite: FNCE 601, FNCE 602.

FNCE 738
Funding Investments
This course examines the available corporate securities that firms can use to finance investment. The course will focus on: (1) the design of these securities (Why do bonds have embedded options? What is the role of preferred stock?); (2) the issuing process for these securities (What do investment banks do? Is the underwriting process important for the cost of capital?); (3) the pricing of these securities (How are credit risk in bonds and loans priced?) The securities covered include corporate and junk bonds, bank loans, common and preferred equity, commercial paper, securitization, as well as some recent innovations. Other topics include: the role of embedded options in corporate bonds; the role of bank and loan covenants; the function of bond rating agencies; exchange offers; prepackaged bankruptcies; bankruptcy in Chapter 11; workouts; debtor-in-possession financing; and pricing credit risk. The course is designed to be complementary to Advanced Corporate Finance and Fixed Income Securities.

Prerequisites: FNCE 601, FNCE 602.

FNCE 739
Behavioral Finance
There is an abundance of evidence suggesting that the standard economic paradigm – rational agents in an efficient market – does not adequately describe behavior in financial markets. In this course, we will survey the evidence and use psychology to guide alternative theories of financial markets. Along the way, we will address the standard argument that smart, profit-seeking agents can correct any distortions caused by irrational investors. Further, we will examine more closely the preferences and trading decisions of individual investors. We will argue that their systematic biases can aggregate into observed market inefficiencies. The second half of the course extends the analysis to corporate decision making. We present the two themes of behavioral corporate finance: rational managers exploiting financial market inefficiencies and managerial decision-making biases. We then explore the evidence for both views in the context of capital structure, investment, dividend, and merger decisions.

Prerequisites: FNCE 601, FNCE 602. Recommended: FNC

STUDY ABROAD VIEW

Abroad View Magazine

            Did you know that you can order Abroad View magazine for free?
Academic institutions, education-based organizations, and libraries may order up to 300 copies. Abroad View magazine is distributed biannually in September and February. Please click here for more information. Participating institutions are listed here.

Visit Abroad View's webzine for regularly updated articles, information, and events. You and your students are welcome to send submissions and suggested resources.

Best Practices for Enhancing Education Abroad

         Thank you to Danuta Majchrowicz, former Abroad View Editorial Board member, for her significant contributions to this section.


BELOIT COLLEGE:

       Beloit College's annual International Symposium day is a campus-wide event, when students who have studied in another country (whether by coming to the U.S. or going to a country outside the U.S.) make presentations about what they have learned. While some students focus on the intercultural aspects of their learning, others present research conducted abroad or participate in panel discussions focusing on current international events
.
CORNELL ABROAD
 
        Corinna Lewis, the Information Services Coordinator at Cornell Abroad, discusses her interest in cross-cultural learning, Cornell’s blog journalism program, and using new social networking tools for more effective outreach among study abroad students.
 
HOBART AND WILLIAM SMITH COLLEGES AND PARTNERSHIP FOR GLOBAL EDUCATION

                     HWS and PGE developed an approach to study abroad programming called "Integrated Program Design"  This approach frames students' time abroad with rigorous pre-departure and re-entry work, providing a more continuous and intentional international experience. Among its initiatives include Assistant Director Doug Reilly’s Photographing to Explore: a workshop and handbook that explore critical reflection through photography. Doug and anthropology professor Stefan Senders also collaborated to create the International Writers’ Workshop for returned study abroad students.


INTERCULTURAL COMMUNICATION INSTITUTE
 
         Milton Bennett, an intercultural education expert, talks with study abroad professionals about how they can help students maximize their experiences abroad.
 
JAMES MADISON UNIVERSITY

   The Office of International Programs (oIP) at JMU serves as the central University office regarding international education, with an organizing and integrative function in addition to leadership responsibilities in identifying and facilitating global education initiatives. The oIP has been committed to many scholarly and programmatic initiatives that enhance international experiences for its students at home and abroad. The presentation Assessment Basics: Getting Started on an Assessment Protocol has a companion piece—a downloadable PDF Assessment Tools of Intercultural Communicative Competence, contributed by Dr. Lee Sternberger, Associate Provost and Executive Director of the oIP at James Madison University. Permission to use this document came from the author, Alvino E. Fantini, Brattleboro, VT, 2006. 

LIVING ROUTES

          Living Routes, an educational non-profit organization that partners with the University of Massachusetts at Amherst to run semester, summer, and January programs based in “ecovillages” around the world, was the first study abroad program to institute a comprehensive carbon offsetting strategy. Living Routes Executive Director Daniel Greenberg contributed many recommended resources to Abroad View's Go Green section, and its website has resource listings too. Greenberg created a Carbon Commitment Calculator worksheet , which he uses when working with students and study abroad offices to explore ways they can measure, reduce, and offset greenhouse gas emissions in their own offices, programs, and travels. 

MIDDLEBURY COLLEGE:

          Barbara Ganley, Middlebury College lecturer in the Writing Department, talks about the creation of "Blogging the World," a collaborative program involving Middlebury College, Haverford College, and Dickinson College students who blog individually and collaboratively while studying abroad. Ganley asks what impact might social software have on the study abroad experience? Does collaborative blogging between students scattered about the world enhance the educational value of travel? Might blogging for a global audience create opportunities for effective reflection and for contextualizing the immersive experience of living and studying away from the home institution? 

           Bill McKibben, America's leading environmentalist and a Scholar-in-Residence in Environmental Studies at Middlebury College, shares his perspective on the role study abroad professionals can play in preparing students to travel and live abroad more sustainably.\

         Catharine Wright, a Lecturer and Acting Director of Technology for Middlebury College’s Center for Teaching, Learning, and Research, teaches courses that explore diverse ways of thinking and writing about self and other; a range of genres and the process of writing; and the various roles of a writer. Two of her courses, Writing for Social Change, and Story and Ritual, feature online student discourse about social issues and multi-media service-learning projects.


NORTHWESTERN UNIVERSITY:

                      Bernhard T. Streitwieser, the Associate Director of Northwestern University's Study Abroad Office and a part-time Lecturer in the German Department and the School of Education and Social policy, created a Global Issues Debate in which students can discuss with their peers in a deep and critical way what the abroad learning experience meant for themselves and for their host and home countries.

Jennifer Hirsch, a Lecturer for Northwestern University’s Department of Anthropology and Director of the Chicago Field Studies Program, designed a course called “Reading and Writing Culture” for students who have studied abroad during college and wish to continue learning about their host country and reflecting on their experience. A course description, readings, and assignments

BEST CREDIT CARDS FOR COLLEGE STUDENTS

Best Credit Cards for College Students – Charge Wisely & Build Your Credit History

                A review of the best credit cards for college students can have two very different outcomes depending on whether the student is responsible enough with money to pay off the bill when they sign up for a credit card.

Who Should Have a Student Card?

                            For students that will carry a balance, the best credit card is no card at all; too many students leave college with enormous debt due to an inability to pay off the things they charge on their cards.
On the other hand, if you’re good enough with money to only buy the necessary items and pay off your balance each month then a student credit card can be a good way to build your credit history.
Reasons Not to Open a Credit Card

             Let’s start off by looking at the reasons why you shouldn’t apply for a student credit card. 
You shouldn’t open a line of credit if you’re doing so on a whim.  You’ve all probably seen booths on campus where you can get free food, T-shirts, or other items in exchange for filling out a credit card application.  Trust the thousands of students deep in debt across the country who would tell you emphatically that the free stuff isn’t worth the card.

                Avoid a credit card if you don’t have a plan for how to use it or an income to pay it off.  This goes along with not opening a credit card on a whim; you should know what expenses you’ll put on the card and where the money will come from to pay off the balance each month.

             If you’re an impulse shopper, don’t get a credit card. The temptation to buy something in the heat of the moment and figure out later how to pay for it will be too great.  Save yourself hassle and a lot of interest payments and don’t sign up for a student card.

Lastly, here’s a list of common credit card mistakes that college students should avoid.


Benefits of a Credit Card

          When I was in college I used a credit card to pay for certain miscellaneous expenses.  I didn’t have a big bill every month so I made enough from my campus job to pay off the balance and after four years I had established a flawless credit history.

Build a Good Credit History


  Buying a House – For example, when my wife and I went to buy a house a few years out of school, I was eligible for a great interest rate based on my credit history.  My wife on the other hand never had a credit card or any type of loan payment so she had zero credit history. 
Putting her name on the loan would have required us to pay a higher rate on the money we were borrowing so we left her off entirely. She was kind of upset, she had avoided opening a credit card in college to be financially safe but down the road her lack of a credit report worked against her.

No Late Payments or Balances – A key point to remember here is that this approach only works if you make your payments on time each month and don’t leave school with a pile of credit card debt.  A history of missed payments or a big balance will hurt, rather than help, your credit score.
Choosing a Credit Card

The criteria for finding the right credit card for college students should be:

• No annual fee
• Low annual percentage rate (APR)
• Free online account access and management

            The emphasis here is on keeping any fees to a minimum and making it easy to manage and pay your credit card bill.  Even though you don’t want to carry a balance, you should still look for the lowest APR in the event there’s a month where you’re charged interest. Most of the student cards offer an introductory period where you pay 0% interest but remember it’s only for a short time period, typically 3 – 6 months, and then the APR goes up.

               One other thing to look for in a student credit card is a free rewards program.  If you’re not going to be putting a lot of expenses on your card then it’s not as important but if you plan on charging larger amounts then a rewards program can pay off.

Best Student Credit Cards

In terms of APR, the Citi Platinum Select Card for College Students has the lowest rate available today for students.  Since it has the best interest rate along with no annual fee and free online account management it would be a good choice.  The one thing it doesn’t offer is a rewards program, which leads us to the next student card.

The Discover Student Card doesn’t have the lowest interest rate but it does feature one of the better APRs for students and it comes with a free rewards program.  The rewards are higher (5%) for certain categories of purchases and 1% on everything else.  Unlike the Citi Platinum Select, the Discover Student card application doesn’t ask any income questions, just be sure you make enough to cover whatever you charge on the card.

Discover also offers the Discover Student Open Road Card which gives 5% back on the first $100 of combined gas and auto maintenance purchases each month.  One nice thing about the Discover rewards program is that your rewards are redeemable in $20 increments.  Meaning you don’t to wait until you’ve earned $50 in rewards like a lot of other credit cards.

Charge Wisely        If you’re smart about how you use credit in school you can graduate and enter the “real world” with a good credit history.  If it sounds like too much work to manage a credit card or too much temptation to overspend then you’re better off just paying by cash or check in your college years.
This review of the best student credit cards and how to build/protect your credit history in school is part of the College Student Money Guide.         When I went to rent an apartment right out of school the building manager was very pleased when he ran my credit report and commented at how very few college grads have a positive credit history.  With more and more businesses using your credit report to gauge risk, having a positive history once you leave school can be very helpful.

THINGS YOUR CREDIT COMPANY DOESN WANT TO KNOW

5 Things Your Credit Card Company Doesn’t Want You to Know

Regardless of where you stand with your credit score or payment history, you should give these tips a shot; you can always claim you’re thinking of leaving them and see what happens. Often they will concede a little or else tell you what you have to do and for how long to qualify for whatever it is you’re asking them to do.

1. Get your APR lowered

Did you know you can get your APR (annual percentage rate) lowered just by asking? As interest rates fluctuate nationally, they cause the APRs for credit card companies to change as well, often making better APRs available for certain customer categories. If there is a better APR available for somebody like you this month, they aren’t going to tell you about it. You need to call them and ask for it. Some companies will let you call as often as monthly while others will only check new rates for you quarterly. Either way, it doesn’t hurt to call.
The better your credit score the better the chance is that your credit card company will grant you the new APR. Generally speaking if your credit score is above 700 you’ve got a really good chance, in fact if you have any interest rates over 12% you need to stop reading and call immediately and find out why you are not getting a better rate! A score in the 600’s gives you a 50-50 shot. Even a score under 600 is worth calling and talking to them about. You might get a better rate but not the best rate. For more on credit scores and improving yours check out our articles at our credit education center.
Another factor they'll consider is your history with them. Have you made late payments? Have you gone over your limit? These things can hurt your chances but not forever. If the answer is "yes" to either of these questions you should call your credit card company, request a lower APR and if they decline and cite one of these reasons you should ask them how long until they’ll consider it. Typically they’ll make you have a clean history for 12 months first. Before you call, be sure to have on hand some of the many low-rate credit card offers available right now. You may get them in the mail, or you can use our credit card search tool to find some to reference. You can refer to one or more of these offers when you call your credit card issuer's customer service line to negotiate. Your opening line can be something like, "I've been getting a lot of low-rate offers from other credit card companies and I was thinking about switching to one of them, but I wanted to see if I could get a better rate from your company first."
If you strike out with the customer service rep, you can ask to speak to a manager. If you’ve got a solid, on-time payment history and good credit scores, point that out. If you're a long-time customer or use the card heavily, mention that as well. Finally let them know if they can’t give you a better rate you’ll be transferring your balances to a lower rate card. The threat to close your account should be a hollow one. Even if you do decide to transfer your balance to another card, you typically should leave the old account open to avoid damaging your credit score. You particularly don't want to close a card with a high limit or one that you've had a long time.

2. Get rid of your annual fee, late charges or balance transfer fees

               Fees help credit cards make extra money above and beyond the interest you pay. If you have a balance and a solid payment history you’ve got a good argument for getting fees waived or removed and it costs you nothing to try. Annual fees are typical for charge cards such as American Express where you aren’t charged interest for balances. It's clear why they do this. However it doesn’t make sense to have to pay an annual fee on a card which is also charging you interest on your balance. If you have a good history with your credit card company call them and ask them to remove the annual fee for the same reasons mentioned in the last tip, you’ll leave and take your balance with you! Use our credit card search tool to find cards with no annual fee to use as a reference or to move to.
Balance transfers are generally free when you first sign up for a card then there are often charges for future transfers. This fact is often in the finest of print. On balance transfer fees you should call and explain that you won’t transfer a balance to them unless they waive the fee. They’re going to make money on interest for the transferred balance and so if you threaten to transfer it elsewhere they may waive the transfer fee before they lose out on the interest opportunity. Late fees, provided you don’t get charged with them often can be refunded. If you have a solid payment history and get a charge for a late fee, call your credit card company. Explain some extenuating circumstances; tell them you are very upset about the charge and that you’d like them to remove it for you. Quite often, they will (particularly if it's your first offense.)

3. Get your billing due date moved

           If you find your credit card payments are due the same time as your rent or car payment or some other inconvenient time you can change it. All you need to do is call your credit card customer service number and request the new date. Changing your payment due date may also be a sneaky way to postpone a payment you’re going to have trouble making, for example if your payment is due on the 10th and you know you won’t get paid until the 15th, have your payment moved to the end of the month. You can’t do this often but in a bind it could save you a late fee.

4. Increase your credit limit

                There are many reasons why you might want your credit limit increased. You may just need more room for a large purchase or you might want an increase to help out your credit score. Some companies automatically review your account for credit increases but not all. You can call and request, sometimes this will result in a credit inquiry however and too many of those can also affect your credit score. Many credit card companies however, can increase your credit limit without pulling a credit report if you just ask. All you have to do is call and ask how much the credit card company can increase your credit limit without pulling your credit report and then tell them that you want them to do so.
Increasing your credit limit can potentially increase your credit score as well. Part of your credit score calculation factors in the percentage of your available credit you are using. Credit agencies ideally prefer you’ve used no more than 25% of your available credit. If you owe $500 and your limit is $1000 you’re using 50% of your available credit. By increasing your limit to $2000 you drop this percentage down to 25% and increase your credit score without paying a dime.

5. Get those old late payments off your credit report

           If you’ve been a good customer for a recent period of time but weren't always this timely, a lender might agree to simply erase that one late payment from your credit history. You usually have to make the request in writing but you can start by calling, your chances for a "goodwill adjustment" improve the better your record with the company (and the better your credit in general). But it can't hurt to ask.
A longer-term solution for more-troubled accounts is to ask that they be "re-aged." If the account is still open, re-aging allows you to start the clock over. Say you're three months late on your credit card payments. If the creditor agrees to re-age your account, those three months are wiped out. Missed payments are forgiven. Late fees stop. You still owe the same amount of money, but you are no longer delinquent.

Here are the current guidelines, to be considered for re-aging:

• The borrower should demonstrate a renewed willingness and ability to pay
• The credit card account should be at least nine months old
• The borrower should have made at least three consecutive minimum monthly payments or the equivalent sum
• A creditor may re-age an account only once in a 12-month period and twice in a five-year period for open-ended accounts such as credit cards

            That concludes our list of things you should ask your credit card company to do for you. Think of it this way -- if you don’t ask, you’re definitely not going to get what you want. You’re not going to get in trouble for asking, so you really have nothing to lose and everything to gain. If any of the above applies to you, get on the phone with your credit card company and make a change for the better!

CREDIT CARD FOR STUDENTS

Credit Cards for Students

Credit cards for students have low income requirements. If you remain in good standing it's possible to periodically lower your APR. Many of the applications for credit cards for students offer useful rewards and benefits. If you review them carefully and manage them responsibly you can find valuable college student credit cards.

Selecting the student credit card for you

There are many credit cards for students. To find the right credit card for you, check the "Credit Needed" column on the right. If you are unsure of your credit score, read our article on credit cards for students and your credit score.

Improve Your Credit Score for Free

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SHOULD STUDENTS GET CREDIT CARDS?

               In today's world, having a credit card is a luxury. Credit cards are a great convenience, meaning that you don't need to worry about cash when making a purchase. Although some credit cards have strict requirements, there are a lot of manufacturers that are giving both high school and college students the chance to get their own credit cards. Student credit cards can be used the same way as a traditional credit card, although they do come with certain restrictions and limitations that other credit cards don't normally have.
                     Normally, the APR or interest rate is higher with student credit cards, which helps to minimize the risk for the company. The spending limit is also different with these credit cards, as most are between 250 - 800 dollars. The reason for this, is because most students have established any credit, and therefore won't have a great credit rating. Although the spending limit is obviously lower with these cards than other credit cards, they will still help students establish credit.
                  Students who plan to make a large purchase, can greatly benefit from using student credit cards. To make large purchases, you'll need good credit - which is where a student credit card can really help out. You can use these credit cards as a stepping stone to building credit, and establishing a good credit rating. If you can get your credit rating high with your credit card, you'll then be able to be approved for much higher loans in the future.

              Student credit cards can also help students gain a sense of responsibility. The card works just like any other credit card, although the spending limit is much lower. Once the student has mastered usage of the card, he or she can manage money much better later on in life. These cards are great for students to have, and can teach them money skills that will last a lifetime.             Just like traditional credit cards, students should also know that student credits cards can be dangerous. Although they are great to have, there are pitfalls such as overspending. If students spend more money than they having coming in, they will be unable to pay their credit card bill, which will then affect their credit. If the company goes after the co-signer to pay the bill, it could also affect their credit as well. Therefore, students should always have a budget in mind before they start using their credit cards.
 

ELIGIBILITY TO STUDENTS CREDIT CARDS

         STUDENT CREDIT CARDS 

                 Many students are under the false impression that they are ineligible to receive a credit card. They couldn’t be more wrong and with sound strategy a credit card is obtainable while you are still in school. Many college students put establishing a positive credit rating on the back burner and reason that it is something that they can tend to after they graduate.

                This can be a mistake that can come back to haunt them, because most major employers now look at and take into consideration a prospective employees credit rating and report as part of the hiring process. Obtaining a credit card and using it to establish a positive credit rating is a great way to put you to the front of the line after you graduate and begin searching for a good job.

                   You may not have a full time job while you are in college but this doesn’t necessarily disqualify you from obtaining a credit card, it only means that you are going to have to formulate a good plan to obtain one. The easiest way for a student to obtain a credit card is to have a parent co sign for it. The important thing to remember after you obtain your credit card is to make all of the payments on it on time as even a late payment can have a negative impact on your credit rating.

                      Another route that a student can take to begin establishing a positive credit rating with a credit card is to start off with a secured credit card. To do this you must have the money that is required to guarantee the credit card. There are many sources for credit card information online and if you really want to obtain a credit card while you are still in school it is within your reach.

HOW TO GET STUDENTS CREDIT CARDS

If you are a college student,you can get student credit cards. It is the easiest way to make a good credit record. May be you have seen credit card applications displayed around university and college grounds. The application method to get a student credit card is very simple. Even, if obtaining of a credit card is perfect for proving credit value, it is essential to manage credit
.
Merits of a Student or College Credit Cards:

                              Away from the clear benefits of establishing credit history, student credit cards are perfect for basic purchases.Mostly college students are strapped for cash. Therefore, a college credit card may be used wisely to purchase semester books and pay for other sudden charges. Moreover, some college students obtain a student credit card to purchase low-price vehicles.
                
                               Normaly, student credit cards have low limits. Average of credit limits are about $1,000. Credit card companies recognize that first time credit card users may become too excited with seemingly "free money," thus, the limits are kept low. Low credit limits of student credit cards makes it easier to manage. As you make credit, the credit card company will gradually enhance your spending limits.

How to use  student Credit cards?

                                 To avoid accumulating excessive debts, college students must refuse to buy whatever they want. In some instances, a college credit cards company  supports students for a large credit limit. This is dangerous. Do not purchase items which you cannot afford. By doing this, you will join millions of other people who are drown in debt. A set of rules is given by credit card companies to payoff  balances of each month.

How to Apply for a Student Credit Card:

                                     To get a student credit cards, college students must be employed. The application will demand employer, income, school, and personal information. Moreover, the creditor will review your credit details. After completing the application, you should read the terms and conditions of agreement. What is credit card's preliminary rate? What will the rate be after the six month preliminary period? Moreover, what are the late charges, and is there an annual charges?

STUDENTS CREDIT CARDS

             These credit cards are for college students. These cards help students build their own credit history and most have relatively low credit limits. Most student cards have some reward feature for everyday purchases. Our objective opinion is included on each card.

1. Citi® Dividend Platinum Select® Card for College Students

Apply Now See Details

Interest Rate:	12.99% - 21.99%* (Variable)*
Intro Rate:	0% Intro APR for 7 Months*
Grace Period:	20 Days
Credit Limit:	n/app
Annual Fee:	None

Special Offers: 0% Intro APR for 7 months* on Purchases

Our Opinion: Created for students who want a cash back credit card. Earn 5% cash back rebate on purchases made a supermarkets, drugstores, convenience stores, and utilities for 6 months, 1% after that. 1% rebate on all other purchases. Earn at least 2% cash back in popular rotating categories like restaurants, apparel, hotel and more. Enrollment required. Receive $5 Dividend Dollars for each balance transfer over $1,500. Earn up to $300 in rebates per year. $50 check will be issued upon request once $50 Dividend Dollars have been earned. Benefits include $1,000,000 in travel accident insurance. No cosigner required.

2. Citi Forward® Card for College Students

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Interest Rate:	12.99% - 19.99%* (Variable)*
Intro Rate:	0% Intro APR*
Grace Period:	20 Days (Min.)
Credit Limit:	n/a
Annual Fee:	None

Special Offers: 0% Intro APR for 12 months on Balance Transfers*; 0% Intro APR for 7 months on Purchases*.

Our Opinion: Rewards students for staying within their credit limit and paying on time. If you stay within your credit limit and pay on time, you will receive 100 bonus points per billing period and a possible reduction in your interest rates. Rate reductions occur at a rate of .25% after three months in a row of staying within the limit and paying on time. You could receive up to 8 reductions, for a 2% total reduction. Get 8,500 bonus points after signing up for paperless statements and making $250 in purchases within the first 3 months of account opening. Receive 5 points per $1 spent at movie theaters, restaurants, book stores, and video rental stores. Receive $1 spent on all other purchases. Points can be redeemed through the Thank You network for cash, gift cards, electronics, music, and more. This card is a good choice if you pay off your balance each month.

3. Citi® mtvU™ Platinum Select® Visa® Card for College Students

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Interest Rate:	12.99% - 21.99%* (Variable)*
Intro Rate:	0% Intro APR for 7 Months*
Grace Period:	20 Days (Min.)
Credit Limit:	n/a
Annual Fee:	None

Special Offers: 0% Intro APR for 7 Months* on Purchases

Our Opinion: This is a good choice if you pay off your card each month and use the reward program. Earn 1 point per $1 for general purchases and 5 points per $1 spent on purchases made on entertainment such as dining, bookstores, music stores, videos and movies. Receive 2,000 Thank You Points twice a year for maintaining good grades. Receive 25 Thank You Points every month for payments made on time and remaining under the credit limit. Redeem points for tickets to the MTV VMA's, gift certificates, CDs, airline tickets, or a VIP pass for mtvU Spring Break. Earn up to 75,000 points per year. Receive 10% purchase discounts at the online MTV store the MTV store in New York City.

4. Discover® Mix Tape Student Card

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Interest Rate:	as low as 13.99%* Variable*
Intro Rate:	0% Interest* for 6 Months
Grace Period:	25 Days (Min.)
Credit Limit:	n/a
Annual Fee:	None

Special Offers: 0% APR on Purchases for 6 Months

Our Opinion: Created for students with very good credit who want a cash rewards credit card. In the rewards program, earn a 5% rebate for purchases in categories like restaurants, movies, travel, home and fashion. Earn additional discounts at the online shopping site. 1% Unlimited Cashback Bonus on all other purchases.

5. Discover®

Open Road

Card for Students

Apply Now See Details

Interest Rate:	as low as 13.99%* Variable*
Intro Rate:	0% Interest* for 6 Months
Grace Period:	25 Days (Min.)
Credit Limit:	n/a
Annual Fee:	None

Special Offers: There is a 0% introductory APR* on purchases for 6 months. See terms and conditions for complete details.

Our Opinion: Created for students who want to earn cash rewards for gas and auto maintenance. Double Cashback Bonus® at any gas station and any restaurant on your first $250 in purchases each month. Earn up to 1% for general purchases. Redeem rewards in $20 increments. Earn unlimited rebates. Rebates do not expire if the account is active within a 36-month period. Standard benefits for account management and unauthorized transactions. This card will benefit those who will use their Cashback Bonus® award at participating retailers (to maximize the rebates) and who will pay their balance in full each month. (Warning: If your account is closed for any reason or if you fail to make the Minimum Payment Due by the Payment Due Date for two consecutive billing periods, your Cashback Bonus will be forfeited)