A-Z Credit Cards - Benefits from Small Business Credit Cards

New Business Credit Cards

2007-12-03T21:42:00.001-08:00

Business credit cards are available from a wide variety of sources - and with a wide range of terms and conditions. Some are secured on assets of one kind or another and some are available on an unsecured basis. As with all forms of finance, you need to know and understand the exact conditions under which the credit is being made available. One thing to look out for is early repayment penalties. Even if you do have the means to repay the credit early it could cost you extra in terms of a fee or penalty interest.

Most credits are covered by various consumer credit laws. They now give you "cooling off" periods and a lot of the somewhat dubious terms and conditions that were previously imposed have been made illegal. The majority of business credits is provided by banks and is usually subject to a minimum amount of $1000 and a maximum amount of $1m. Repayment terms are also flexible, depending upon the purpose of the credit and can range from a 12 month period up to 20 years.
Tip! Cut up all credit cards but one. If you can't use it, you can't run up more debt.

In some circumstances it is possible to arrange a capital repayment holiday where only the interest needs to be repaid for the defined terms of the holiday. This can be advantageous for a new business in that it keeps expenditure down to a minimum whilst income is being built up from trade. This type of deferred repayment should be available regardless of whether you opt for a variable rate or a fixed rate credit. You need to consider the options of fixed rate or variable rate very carefully- you do not want to tie yourself to a high rate credit when interest rates are generally reducing. Variable rate credits are entirely flexible but you need to be aware that this can actually cause you problems if the base-lending rate increases.
Tip! Bank Sponsored Vs. Airline Sponsored Credit Cards.

Business Credit Cards provides detailed information on Business Credit Cards, New Business Credit Cards, Secured Business Credit Cards, Bad Credit Business Credit Cards and more. Business Credit Cards is affiliated with Small Business Credit Cards.

Increase Your Sales - Accept Credit Cards

2007-12-03T21:40:00.003-08:00

Many people today simply prefer the convenience of paying by credit card. If you want their business, you must be able to accept their credit-card payments.

In part one of this series we will discuss why you should accept credit cards, and the basics of getting merchant status. Part two will deal with objections you might get, which credit cards to accept, and the check paying option.

Obtaining merchant status, which allows you to accept credit-card payments, might seem like an unnecessary hassle, especially for those in business where the majority of their customers pay by cash or check. But by not accepting credit-card payments, you lose sales. This is especially true if yours is a mail order business, or consulting business. Just look at the majority of business today, all of them accept credit cards, and becoming more and more popular all the time are debit cards.

As many businesses have found, up to 70 percent of people never mail the check, so accepting credit cards is crucial. When the customer places an order, he's excited and eager to buy. Faced with the prospect of sending a check, waiting for it to clear and then awaiting shipment, his interest is likely to wane. In the meantime, you lose sales.

The Basics of Merchant Status

In order to accept credit cards, you need to work with a bank that will transfer the money into your account within a day or two of the sale, and then collect the money from the customer. In return, you pay the bank a commission of 1.5 percent to 5 percent for each credit-card transaction; a set, per-transaction fee; and a setup fee. You will also have to pay monthly support or equipment-rental fees for a point-of-sale terminal—the machine used to swipe the card—depending on the contract.
Tip! Know the Annual Membership Fee. Airline credit cards are different than most credit cards as they carry an annual fee.

The fee is based on two things, the average amount per transaction and the total volume for the year.

When you apply for merchant status, the banks evaluate your business based on its sales track record, the type of business it is, your credit record, the business's credit record and your overall financial picture.

Apply for merchant status when you get your start-up financing. This accomplishes several things. First, it shows that you've thought ahead. And you will probably have customers that you wouldn't have otherwise. In fact, some people don't pay with anything but credit cards.

Second, you show you're taking steps to minimize the time and expense involved in recovering bad debts. If someone writes a bad check, for instance, it will cost you time and money to recover the loss. If you swipe a customer's credit card through a point-of-sale terminal, you can be sure you'll get paid. The machine contacts the issuing bank to authorize the transaction and runs the account numbers through a variety of fraud-protection procedures.

In part two of this series we will deal with objections you might get, which credit cards to accept, and the check paying option.
Tip! Insurance: All credit cards should come with insurance, which covers you for fraud or theft that results in your card being used before you can cancel it. With the rise in the number of people buying on the Internet nowadays this is a vital requirement.

Copyright 2004 DeFiore Enterprises

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Increase Your Sales - Accept Credit Cards

2007-12-03T21:40:00.001-08:00

Tips for Businesses that Accept Credit Cards

2007-12-03T21:39:00.001-08:00

Let's face it, many businesses cringe when they think of dealing with banks when they are looking to set up merchant credit card accounts. The truth is that in order to be in business in this day and age as a merchant, you must be prepared to accept and process credit cards. Most especially if you do business over the Internet. If you are not prepared to offer a full array of credit card acceptance options, I'm afraid you will soon be out of business. The downside to accepting credit cards is that the merchant is at risk for not only the amount that has been charged, but a charge back fee as well.

The banks will take the disputed charge along with a chargeback fee directly from the merchants account and if the merchant does not have sufficient funds that have already cleared from paying their own bills, they will be hit with yet another charge which is known as an overdraft charge. It can become a vicious cycle. There are now more than a few banks that recognize that these charge backs are not always the fault of the merchant, and that indeed, most merchants are honest with their credit card dealings. I regret having to say that there is so much credit card fraud out there today, and because the merchant is always liable, you must take active steps to protect yourself and your business.
Tip! Withdraw cash from your account to spend and leave the credit cards at home. You will have a more realistic feel for what you are spending.

First of all, you must be careful to verify to the very best of your ability that the name, address and cvv number verification are all in good order. The business owner, or merchant, must be careful to verify the IP address of each and every transaction to make sure that it is within the approximate location of the cardholder. A red flag should go up if a person who lives in Des Moines, Iowa is suddenly making a charge in Boca Raton, Florida. This is your livelihood so the exercise of due diligence and caution are always of paramount importance.
Tip! Know the Annual Membership Fee. Airline credit cards are different than most credit cards as they carry an annual fee.

Do not fall into the habit of becoming apathetic because as quickly as money is credited to your merchant account it can be taken away due to the charge backs that we discussed earlier. Now there are organizations who are working to try to change the banking and processing rules and regulations so that businesses that are both small and large will have some more protection against credit card fraud.
Tip! Compare credit cards to be sure you're getting the best credit card deal for you.

The time to begin protecting yourself and your business is right now. You need only pick up the newspaper, or read a news report, to know that the risk is very real and always present. Reports state that there are over 40 million credit cards in the hands of thieves and criminals who have no compunction about using these credit cards for any nefarious activities that they can dream up. That is why I have written this article. It is most certainly not my intention to scare anyone. I simply want to remind you of the dangers and risks associated with processing credit cards for your business.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards. Get the information you are seeking now by visiting http://www.Find-Cards-Now.com

Hidden Tips to Boost Your Client Base By Accepting Credit Cards

2007-12-03T21:38:00.000-08:00

Here is a method you should pay attention to for your online company… accept credit cards. Whether you're promoting digital goods or physical goods through online routes, your business should be able to accept credit cards to make sure the widest customer base that is feasible. The magnitude of the ability to accept credit cards cannot be denied. Being capable of accepting credit cards makes your internet business more available to a larger number of prospective clients and customers.

You'll Gain Massive Benefits If Your Internet Business Accepts Credit Cards

Credit cards have been tagged as ‘plastic money' since they have become acknowledged as a fine substitute to real cash. Many people favor real world businsses who accept credit cards. They would prefer to shop in stores that accept credit cards above those that don't accept credit cards.
Tip! Bank Sponsored Vs. Airline Sponsored Credit Cards.

A similar rule applies in online dealings. People seek out eCommerce sites that accept credit cards, predominantly those that accept credit cards which they own. You can accommodate these people by crafting your online business to accept credit cards; you'd easily be able to boost the quantity of prospective clients you could gain.

In addition, by constructing an online venture that could accept credit cards, you will be able to take payments in a more suitable and secure manner. If your internet business would accept credit cards from paying clients, you'd be enabling them to buy more of your products easier.
Tip! Know the Interest Rate. Airline credit cards traditionally charge higher interest rates to cover the expenses of the elevated benefits.

Defeating a Significant Barrier By Accepting Credit Cards Online

Unfortunate to say, however, that there are quite a lot of people who are scared of online business transactions, even if your business would accept credit cards. There have been stories of so many scams and deceitful transactions Online, and genuine businesses which accept credit cards are the ones that have to endure such shame.

To facilitate and curtail the wave of this fear, businesses that accept credit cards should ensure the following things:

• Businesses that accept credit cards should ensure that its payment processing page is embedded with Secure Socket Layers (SSL) of at least 128 bit.
Tip! Rewards program: Some credit cards offer very attractive rewards program. These are the points you earn for spending on your credit card.

• Those that accept credit cards should also guarantee that such SSL encryption is displayed on the bottom right side of the user's browser window, in the shape of a padlock icon.

• Also if you accept credit cards you should establish a reactive customer support system that can and will respond to the requests of your clients.

By setting up your internet business to accept credit cards you can only increase your customer base and improve your earnings for years to come.
Tip! Cut up all credit cards but one. If you can't use it, you can't run up more debt.

For more information on how to Accept Credit Cards and increase your profits using a merchant account visit: Free Merchant Account Articles

Managing Government Credit Cards for Government Employees

2007-12-03T21:37:00.000-08:00

Business management is a very important subject and with business management comes financial and fiscal responsibility. The most difficult places to manage are those places, which have the most unethical people and employees working within their organization.

Let's take the federal government for instance we know that anyone who cannot get a real job or does not have the ability, intelligence or personal work ethic to become an entrepreneur can get a job in the government. The government will hire anybody including a homosexual, former criminal or a druggie. The federal government will hire just about anyone who is outcast from society and mold them into a bureaucrat.

You can imagine the difficult job managing Government credit cards for Government employees. Government employees have been known to use government credit cards to go to strip clubs, car washes with their personal car and even cruises with their family.

It is amazing the amount of abuse that the taxpayer in doers because of the unethical nature of people who work in government. Therefore it takes a strong leader who believes in fiscal responsibility to manage these government employees and these expenditures.
Tip! Know the Interest Rate. Airline credit cards traditionally charge higher interest rates to cover the expenses of the elevated benefits.

Currently with unemployment rates so low we have even more derelicts and people who lack integrity working in our government. The unethical nature of the average government worker is appalling and therefore it takes stronger leadership to ensure they credit cards are not abused. This is where business management comes in, as no corporation would ever put out with this sort of baloney.

Government credit cards are a great case study for business management students who want learn about how best to manage a large organization. And nothing is larger than the blob of bureaucracy we call the federal government. That is the truth and I really do not care if you disagree because that just shows you are naïve and do not get it. Consider this a 2006.
Tip! Withdraw cash from your account to spend and leave the credit cards at home. You will have a more realistic feel for what you are spending.

Lance Winslow