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Top Articles - Credit Card Terms and Conditions - A Closer Look
It's sad but today most credit card companies are devious and they've designed everything possible into the fine print of their terms of service to catch you. Therefore, when looking at any credit card off
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
er, make sure you take a close look at the fine print.
Believe me, I am fully aware that it's purposely put together to appear like a maze, but because it's so vitally important to your financial well-bei
Believe me, I am fully aware that it's purposely put together to appear like a maze, but because it's so vitally important to your financial well-bei
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
g and with the current trend towards "relatively" easier-to-read summary boxes you no longer have a legitimate excuse for ignoring the terms of service.
That being said, I've outlined a few of the key asp
That being said, I've outlined a few of the key asp
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
cts to look for that are normally "hidden" away in the fine print of most credit card offers.
The Annual Fee
Although it's not as common as it once was, it's still around. Especially, on the so-calle
The Annual Fee
Although it's not as common as it once was, it's still around. Especially, on the so-calle
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
higher status Gold and Platinum cards which still tend to charge much higher fees than the "basic" credit card. Annual fees are simply an easy way to get another $39.95 to $79.95 or more from each and eve
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
y customer. It may not sound like much but it adds up when you've got millions of customers. If you give the company a call you can normally get it waived and if they won't then don't take out the card or
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
ancel the one you've got - it's the principle of it.
Late Payment Fees and Penalty Charges
Cash advance fees, late payment charges and exceeding your credit limit are the types of fees you need to pa
Late Payment Fees and Penalty Charges
Cash advance fees, late payment charges and exceeding your credit limit are the types of fees you need to pa
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
y attention to when checking out the fine print. Many cards have unjustifiably high fees and if they do you shouldn't sign up for them. Just say no!
Calculating Interest
Because it's so hard to under
Calculating Interest
Because it's so hard to under
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
tand (they make it that way on purpose) this is often one of the most overlooked, yet important aspects hidden away in the fine print. There are basically three methods being used to calculate interest on
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
our balances.
Adjusted Balance
Not as common as it once was but some companies are still using it. In a nutshell, you are charged interest on whatever your balance was on the day the company sent you
Adjusted Balance
Not as common as it once was but some companies are still using it. In a nutshell, you are charged interest on whatever your balance was on the day the company sent you
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
the bill.
Previous Balance
Basically, this method is simply a horse of a different color. In this version you are charged interest on your balance as it stood at the end of the previous billing cycle
Previous Balance
Basically, this method is simply a horse of a different color. In this version you are charged interest on your balance as it stood at the end of the previous billing cycle
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
regardless of how much you've spent or paid off since. Some consider this a tad bit easier to understand.
Average Daily Balance
Last but certainly not least. This method is currently the most common
Average Daily Balance
Last but certainly not least. This method is currently the most common
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
nd it's also the most complicated. Using this method your balance is added up at the end of each day in the billing cycle, it's then divided by number of days that have transpired in that billing cycle and
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
interest is charged in this amount. I know, clear as mud.
If your balance jumps around this method may be slightly better for you than the other methods because it keeps you from paying full interest on a
If your balance jumps around this method may be slightly better for you than the other methods because it keeps you from paying full interest on a
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
balance that just happened to be large on the billing date.
You should also be paying attention to the monthly rate of interest rather than just relying on the APR. APR is an estimate of the total cost o
You should also be paying attention to the monthly rate of interest rather than just relying on the APR. APR is an estimate of the total cost o
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
borrowing but it's the monthly interest plus the various fees and charge that will show you exactly how much you are paying.
Grace Period
This is extremely important for about 40% of all credit card
Grace Period
This is extremely important for about 40% of all credit card
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
holders because that's the approximate number of people who pay off their balances each month. It's also important for the remaining 60% because then you can avoid interest on new purchases for the first 3
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
days or so. As a result, make sure that the card you're looking at has a grace period on purchases; otherwise, you could end up being charged interest from the moment you buy something. On the other hand,
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
virtually no credit card company offers a card with a grace period on cash advances or credit card checks.
Currency Conversion Fees
This only applies if you plan on using a card outside the country.
Currency Conversion Fees
This only applies if you plan on using a card outside the country.
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
f it does apply to you, take a look at what you'll be charged for transactions made in other currencies. Some cards are much more expensive than others.
This article may be reproduced only in its entirety
This article may be reproduced only in its entirety
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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