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What else can I help you with?
How long should you keep bill statements?
credit and debit cards
Why do businesses that accept credit cards have to pay a fee?
Businesses that accept credit cards have to pay a fee to partially cover the cost of the transaction being processed by the card company. Businesses accept credit cards to keep the consumers purchasing from them, so they also pay the credit card fees for be able to process transactions this way.
How can you know which credit cards you have under your name?
The simplest way to get this information is to pull your own credit. Each credit card along with other debts you have will show up as a "trade line" on your credit report. Keep in mind that new credit cards will sometimes take up to 60 to show up on your credit report.
Would accepting credit cards increase or decrease your bottom line?
AnswerWhen looking into accepting credit cards, remember that credit card transactions and credit card processing are a business in itself. The main goal of merchant account providers and credit card companies is to make money. This is a business that you are paying for. Therefore, it is important to evaluate whether the costs you pay for accepting credit cards are worth it in relation to the benefits it provides your business.The money your business pays for accepting credit cards is called ?interchange.? Interchange is ?the clearing and settlement system in which raw data is exchanged between the acquirer and the issuing bank.? Although you may be quoted one rate for this service, everything depends on how your account is set up before the rates you pay are actually determined. To receive the best rates possible, it is important to understand how the costs will affect your revenue.Evaluating the costs is the trickier part of the equation. The benefits that your business would derive from accepting credit are easier to identify. The one thing all customers seem to desire is more options. Accepting credit cards provides your customers another option for making payments, and they will be more willing to buy something because they don?t have to worry about having the actual money for it right now. Also, accepting credit gives you unlimited ability to reach new customers. Some customers prefer not to patronize a business in which they can?t use credit, so accepting credit will open you up to a whole new customer base.Most importantly, accepting credit will add tremendous profits to your bottom line. Profits generated from credit cards will keep your employees paid, allow you to pay for better healthcare for your employees, and offer better discounts and services to your customers.Therefore, you must evaluate the total cost of accepting credit cards (including all payments and fees) and weigh that against your customer base. After evaluating your customers, including what they buy, how much they spend, and what forms of payment they use; it will be easier for you to realize whether accepting credit cards would truly benefit your business.www.AcceptingCreditCards.info
Do closed accounts affect credit score?
Closed accounts aren't deleted from your credit bureau till 6 years has passed. All it will show is that the balance is nil and the DLA (date of last activity) will show what month/yr, you had a nil balance on your statement. If you close all your old credit cards and keep your new ones, that might not be good either because the age of your credit cards are part of your score. it's best to keep and maintain your old credit cards and get rid of any unused new credit cards. Things to think about re:credit score is: maintaining good long established credit history, making sure your balances are low and not using more than 30% of your line of credit, and reducing the number of credit cards you have. My suggestion is to have 2 credit cards (one visa and one m/c) and maybe 1 extra card for emergencies only (make sure you use the emergency credit card every 6 months so it not considered inactive). This will help, so you don't have so many bills and you keep track of your purchases. And lastly, pay your bills in full and on time so that you're not charged the daily interest.
Do business credit cards report on your personal fico score?
Business Credit CardYep. As long as its your social security number tied to the card and you own the business, the payments you make on behalf of your business card are reported. Business cards typically have larger credit lines so you can handle your business expenses with ease. Keep in mind that some business credit cards may require your social security number but does not report to your personal credit files. For example, Elan Financial issues a business credit card for many banks and while the credit application requires a personal credit check the debt only reports to your personal credit reports in the even of default.
If you file bankruptcy but still have some credit cards with a zero balance on them will you still be able to keep them or will they automatically be closed?
If you have credit accounts in good standing then do not include them in your bankruptcy.
Tips For Managing Business Credit Cards.?
Business travelers are often required to use business credit cards to pay for trip-related expenses. The first rule for handling business credit seems obvious, yet is all too often overlooked: business credit should never be used for personal, non-business related expenses. In order to eliminate questions and problems related to these cards, professionals should keep excellent records. Business travelers who use business credit should insist on receiving a receipt for every business transaction, and should keep these receipts very carefully. Travelers also have a responsibility to report loss or theft immediately, or within twenty-four hours.
Why do people use online business credit cards?
Many people use online only business credit cards as a way to keep track of the amount of money they are spending, what is taking up the largest chunk of money, and where the best prices are being found.
Advantages of Business Credit Cards?
Many people are afraid to use credit cards because they are concerned about overspending, but business credit cards can be a very useful tool to help a business grow and streamline their financial process. Prepaid credit cards are a very good alternative to regular business credit cards because they allow the business owner to limit the amount of money that is spent each month. Business credit cards can be used for virtually all business expenses and are a great way to keep track of the costs of doing business and isolate their business expenses from personal expenses. All transactions are itemized on the monthly statements, so it is simple for the business owner to keep the statement as a record of the business' expenses. All of these expenses can be paid monthly with one payment, rather than many individual payments to different companies. The ability to buy products online or over the phone is another benefit of using business credit cards. In today's market, most companies can save time and money, as well as get a larger variety of supplies for their business by shopping online rather than in a store. The business is also protected against fraud when they are using a credit card. This protection is not available to business owners who pay their expenses using cash or check. Some credit card companies offer other benefits to customers who use their business credit cards, such as reward points, airline miles, or cash back. These rewards often add up quickly when business customers are using their credit cards to pay for all of their expenses. The business owner may even receive points for every dollar spent by their employees who use company credit cards, depending on the individual card's policy. Some credit cards even offer other benefits such as travel insurance or rental insurance at no extra cost. Giving business credit cards to employees who often order supplies or conduct other company business is much more convenient than writing a check for the expenses, and spending limits can be placed on the cards so that the employees cannot overspend when using their business credit cards. Business owners who trust their employees can simply check the statements every month to ensure that only business expenses are being charged on the credit card and don't have to individually approve every purchase. There are many advantages to using business credit cards, as long as they are managed carefully. There are many companies who offer credit cards to business owners. The business owner should carefully compare the rewards and interest rates of several credit cards before deciding which card is best for their business.
Why were credit cards invented?
Credit cards were made because banks wanted to keep up with credit as in owed money better.
what exactly are corporate credit cards?
A corporate credit card is a credit card made just for a business. It is extremely useful to a business owner to keep personal and business expenses seperate. It will also give the business a useful tool to allow the employee to charge expenses with the card rather than have to submit reimbursement requests.
Do credit cards cost money to keep?
There is often an annual fee, but some credit cards have no annual fee, and this means that they would cost you nothing to keep.
After a filing can you use a credit card for an emergency purpose and not be in trouble help?
You should stop using credit cards before you file or you will have to pay all of the debt you incurred after you filed. When you file you have to list the debt and the company. If you keep using it you maybe challenged by the creditor.
Can you keep two credit cards in the same pocket?
why not?! :)
How do credit cards affect an individuals credit history?
Credit Cards greatly impact a credit score. In fact, 30% of your credit score is determined by how well you use credit cards. (Utilization Rate). You want to keep your Utilization rate at 20% or less of the credit limit.
Are business cards needed to do business?
Yep. Business cards are very vital to do business because they keep business information about a company or individual readily accessible.
