Accept major credit cards? Perhaps you never thought of yourself as a sophisticated entrepreneur with the business savvy to utilize this type of payment. After all, aren't credit cards for big-name corporations who do not want to be bothered with the daily mundane deposits of cash and checks? Not anymore! Now even home-based or small business owners can get approved for a merchant account that will let them get paid by customers' credit cards. The process isn't that difficult, so there's no reason why you shouldn't cash in on this exciting possibility for growing your business.
If you want to start handling electronic transactions for your business, including orders and being able to accept major credit cards, you will need to open a merchant account. This is a special business arrangement with a bank or another lender that provides underwriting support for your company. By setting up a gateway to transmit customers' credit payments through the lender for clearance and then to your account for deposit, a merchant account saves you time and money in collecting bad checks or taking monthly payments on an account. A merchant services account lets you accept credit card payments instead of handling only cash or checks. Imagine how your profits will escalate when customers are offered the opportunity to purchase things by credit card? Research shows that credit card users typically spend more than those who pay with cash or check.
To accept major credit cards, get a good deal with your merchant services account. Check the terms to be sure you get low rates and fees. Then decide on the best way to collect credit card payments. You may want to install a credit card processor at your place of business for on-site transactions. Or you may prefer to install a phone system that lets customers use credit card payments to order by that method. Website credit card payment is another possibility. You can survey your customers or do a little marketing research to find out what they might prefer. If one system doesn't work, you can always backtrack and try something else. The main idea is to expand payment options for clients so they will appreciate the convenience of shopping with your company. If you make it easy for them to look around and to pay by credit, they are likely to return and perhaps bring other customers with them.
Most people use credit cards for one type of purchase or another, from gasoline to groceries or something in between. The cash and check system, while still in use, may not be around forever since so many business transactions are being conducted in cyberspace. Even if you prefer doing business the old-fashioned way, your customers may not. Failing to provide credit card acceptance may turn your customers away, and they will find another vendor who accepts credit payments, costing you their share of revenues. Ask a merchant account provider for details on how to get set up so you, too, can accept major credit cards.
About the Author: Shane Penrod is the founder of Merchant-Account-Quotes.com Specializing in allowing merchants the ability to shop and compare multiple quotes from national merchant account providers. For free quotes on merchant account rates and fees, please go to http://www.merchant-account-quotes.com
Source: www.isnare.com
Saturday, October 20, 2007
Why You Should Not Change Credit Cards Too Often
There are some great credit card deals around at the moment and on the surface it would seem silly not to check them out. There are a few things however that you must bear in mind when doing your research.
Always check the small print, if you make an application to see if you can get a good deal you may have authorised a series of searches on your credit report. You must remember that a footprint will be left on your record for 12 months.
When you then see a better deal you may well be rejected. You see, a new lender will just see searches and they do not know why they are there. They may see this as evidence that you have been rejected, have too much credit that you cannot afford or you have been subjected to fraud
So bear this in mind and be careful. Get a quotation, rather than apply for credit as this should not show up on your record. If for some reason it does it will clearly show as a quote only and should not affect you chances of future credit.
Do not allow a full search until you until you are certain you have found the right deal. Sometimes this can be difficult if your credit history is less than perfect but a good broker should be able to point you in the right direction. A company cannot do a search without your permission.
Lets get back to credit cards again. We all do it. Zero balance for 6-9 months then move on. This should not matter too much with your credit rating as long as you make your payments on time and you cancel old cards (Don't just cut them in half, you must tell the lender). If you don't, you have access to too much credit. Other lenders may not like this. Also, don't forget that lenders hope that you don't change at the end of the term and pay the higher rate. How else do you think they make their money?
If you are worried that searches have damaged your credit rating, you can contact the credit agencies who hold your details. The main ones are experian and Equifax. You can get more details of these from my website. If there are any errors, there are ways that you can correct this.
Author: Colin Warburton CMap
For more Articles go to http://www.one-loans.com/
Copyright (c) Jan 2006 Colin Warburton
About the author:
Colin Warburton is a qualified Mortgage broker (CMap) with a vast experience in difficult loans and mortgages. For more articles go to http://www.one-loans.com/
Always check the small print, if you make an application to see if you can get a good deal you may have authorised a series of searches on your credit report. You must remember that a footprint will be left on your record for 12 months.
When you then see a better deal you may well be rejected. You see, a new lender will just see searches and they do not know why they are there. They may see this as evidence that you have been rejected, have too much credit that you cannot afford or you have been subjected to fraud
So bear this in mind and be careful. Get a quotation, rather than apply for credit as this should not show up on your record. If for some reason it does it will clearly show as a quote only and should not affect you chances of future credit.
Do not allow a full search until you until you are certain you have found the right deal. Sometimes this can be difficult if your credit history is less than perfect but a good broker should be able to point you in the right direction. A company cannot do a search without your permission.
Lets get back to credit cards again. We all do it. Zero balance for 6-9 months then move on. This should not matter too much with your credit rating as long as you make your payments on time and you cancel old cards (Don't just cut them in half, you must tell the lender). If you don't, you have access to too much credit. Other lenders may not like this. Also, don't forget that lenders hope that you don't change at the end of the term and pay the higher rate. How else do you think they make their money?
If you are worried that searches have damaged your credit rating, you can contact the credit agencies who hold your details. The main ones are experian and Equifax. You can get more details of these from my website. If there are any errors, there are ways that you can correct this.
Author: Colin Warburton CMap
For more Articles go to http://www.one-loans.com/
Copyright (c) Jan 2006 Colin Warburton
About the author:
Colin Warburton is a qualified Mortgage broker (CMap) with a vast experience in difficult loans and mortgages. For more articles go to http://www.one-loans.com/
Thursday, October 18, 2007
With Credit Cards Hitting Hardest, UK Consumers Tax Themselves With Penalty Charges On Personal Finance Options
A rise in costs for users of any financial service usually results in public outcry, why is it then that so many of those same consumers allow penalty fees and charges to accrue on their credit cards, when the problem could so easily be avoided?
The financial groups Defaqto and MoneyExpert have released a report in which the startling figure that one in five consumers have had to pay just such a charge, and while credit cards were the worst offender, a number of different personal finance services also incurred unnecessary charges. These services included charges for simple personal finance errors such as allowing an overdraft to go over the agreed bank limit, or investing in an inflexible mortgage and then paying off the debt early. In both cases either better preparation beforehand with regards to choosing the right provider (such as using an online personal finance database like Moneynet (http://www.moneynet.co.uk/credit-card/index.shtml ) or Motley Fool (http://www.fool.co.uk ) ) or taking advantage of financial options now readily available would have presented more flexible options which would not have imposed the penalties.
To take an example, credit cards allow greater control over your personal cash flow - you can pay now for a product or service even if the funds you use will not be available to you until the following month, at which point you pay off the credit card. Credit cards also have valuable incentives for their use with larger purchases, featuring, as the majority do, insurance options and traceability.
However when you are making smaller purchases, say clothing or household products, then the use of a credit card may not be the best use of your money: searching for a suitable personal loan would most likely result in better short-term rates and the avoidance of penalties such as those imposed on the one in five people surveyed by Defaqto and MoneyExpert.
With the survey also producing the result that one in twenty consumers faced charges in excess of £100 it would seem that this problem is more than a trifle for a large portion of the UK population and that while there are a great number of personal finance options available out there, there are very often not used to the advantage of the consumer as they could so easily be with a little research.
Disclaimer
All information contained in this article is for general information purpose only and should not be construed as advice under the financial Services act 1986. You are strongly advised to take appropriate professional and legal advice before entering into any binding contracts.
About The Author:
Michael is a keen writer, and internet marketer living in Scotland: Contact details: E-mail: samqam@googlemail.com Phone: 0131 561 2251 Michael's Website: http://www.gransha-taxi.co.uk
The financial groups Defaqto and MoneyExpert have released a report in which the startling figure that one in five consumers have had to pay just such a charge, and while credit cards were the worst offender, a number of different personal finance services also incurred unnecessary charges. These services included charges for simple personal finance errors such as allowing an overdraft to go over the agreed bank limit, or investing in an inflexible mortgage and then paying off the debt early. In both cases either better preparation beforehand with regards to choosing the right provider (such as using an online personal finance database like Moneynet (http://www.moneynet.co.uk/credit-card/index.shtml ) or Motley Fool (http://www.fool.co.uk ) ) or taking advantage of financial options now readily available would have presented more flexible options which would not have imposed the penalties.
To take an example, credit cards allow greater control over your personal cash flow - you can pay now for a product or service even if the funds you use will not be available to you until the following month, at which point you pay off the credit card. Credit cards also have valuable incentives for their use with larger purchases, featuring, as the majority do, insurance options and traceability.
However when you are making smaller purchases, say clothing or household products, then the use of a credit card may not be the best use of your money: searching for a suitable personal loan would most likely result in better short-term rates and the avoidance of penalties such as those imposed on the one in five people surveyed by Defaqto and MoneyExpert.
With the survey also producing the result that one in twenty consumers faced charges in excess of £100 it would seem that this problem is more than a trifle for a large portion of the UK population and that while there are a great number of personal finance options available out there, there are very often not used to the advantage of the consumer as they could so easily be with a little research.
Disclaimer
All information contained in this article is for general information purpose only and should not be construed as advice under the financial Services act 1986. You are strongly advised to take appropriate professional and legal advice before entering into any binding contracts.
About The Author:
Michael is a keen writer, and internet marketer living in Scotland: Contact details: E-mail: samqam@googlemail.com Phone: 0131 561 2251 Michael's Website: http://www.gransha-taxi.co.uk
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