credit cards
When credit cards were invented, they were touted as a way to help people get the things they needed that they otherwise wouldn’t have the money to pay for. The idea was to get a little jump on the purchase, but to then pay it off. It was supposed to be money for a ‘rainy day’.
Once millions of Americans began applying for and getting credit cards, the credit card companies began seeing dollar signs - and out of greed, destroyed something that was meant for good.
While the concept of having a credit card may be great, once you... Read more
Tags: Accounting, advice, credit cards, Finance, Finance and Accounting, Leeia Ladipoh, tips
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Published March 3rd, 2008
Your business started out with great credit, but you hit a few bumpy roads along the way and need to improve your business credit line of credit or loan consideration. Banks will look at your credit rating, so it is important to maintain and improve that rating.
When you are reviewing your business credit rating, it is important to know that your business credit rating is a bit more volatile than your personal credit rating. If you have missed payments or have been late, particularly with large amounts of credit, your lenders will have a say in your credit report.... Read more
Tags: advice, credit cards, improving business credit, larry Slusser, small business credit cards, tips
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Published March 3rd, 2008
The business credit card market is inundated with new cards, tantalizing rewards, low introductory interest rates and more. However, not choosing the right type of credit card can leave your business with a debt that grows steadily with each passing month. Here are some tips on picking the right card, depending on your payment habits:
If you pay on time and in full at the end of each month: Business owners who use credit cards out of convenience, rather than a way to stretch out payment terms, will be in the best position to choose the most rewarding cards. Since... Read more
Tags: advice, Carrie Hinkel, credit cards, Finance, Finance and Accounting, small business credit card, tips
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Published February 29th, 2008
If you’ve shied away from getting a business credit card because you think you don’t need one, that it costs too much, or that you don’t make enough purchases, then think again! Using a business credit can actually save you money and time - yes really! And for small business owners, those are your two most precious business commodities.
Advantages for having a credit card for your small business
Perks - With so many companies offering credit cards, there’s a lot of competition for your business. Today, credit cards are offering cash back, airline miles, hotel stays, merchandise and a... Read more
Tags: Accounting, advice, Carrie Hinkel, credit cards, Finance, Finance and Accounting, line of credit, small business credit card
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Published February 8th, 2008
With all the concerns about identity theft and credit card fraud these days, it’s no surprise that credit card companies are keeping a closer eye on businesses to make sure credit card numbers and personal information are being properly protected. This is how PCI compliance standards came about.
PCI stands for Payment Card Industry . The compliance standards were set up and not only apply to your business, but also the banks and credit card companies. The industry wants everyone who is in contact with credit cards to be responsible with the sensitive personal information that has been entrusted to... Read more
Tags: compliance, credit card fraud, credit cards, Leeia Ladipoh, payment card industry, PCI
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Published December 28th, 2007
"With great power comes great responsibility," a great man once said… that great man was none other than Spiderman’s Uncle Ben. My apologies for using the word "great" 4 (count ‘em) times in that sentence. Regardless, the statement is true and applies in business as much as anything else.
Many businesses will have a company credit card (or two or three or….) that is designed to be used for business related expenses. Now, what your business constitutes as a "business related expense" is clearly up to whomever is responsible for those cards. In general, employees should be able to use... Read more
Tags: Accounting, company credit card, credit cards, Finance, Finance and Accounting, Rebecca Button, small business loans
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Published November 21st, 2007
If your business has a website that allows online orders, there’s good chance that you accept credit card payments for any purchases made by your customers. You may even accept PayPal, especially with the rise in that particular method’s popularity, thanks to the likes of eBay.
However, there are alternatives to these more common options. Although there’s nothing wrong with either PayPal or credit card payments, you could save money, as well as make things simpler for your customers, by looking into using another payment method. For instance, PayPal payments require the buyer to have a PayPal account, and not... Read more
Tags: billmelater.com, checkout.google.com, credit cards, danny brown, E-Commerce and E-Business, merchant account, online payments, paybycash.com, paypal, paypal alternatives
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Published November 6th, 2007
Running a business can be expensive at times. There are ups and downs in your business just like in anything else. One thing that can really damage your business is collecting bad customer debt. This would be where the customer is behind on payments, or hasn’t paid for services acquired or products received. This sort of thing happens sometimes, but allowing this to happen can cost you much more money than the original price of the service or product, not to mention a killer headache.
You may have to pay court costs in order to try and get the money... Read more
Tags: Accounting, bad debt, credit cards, customer credit, debt, Finance, Finance and Accounting
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Published July 17th, 2007
Credit cards are a small-business owner’s best friend. They’re easy to obtain and convenient to use. More than one-third of small businesses use business credit cards (also called "corporate cards" whether or not the business is organized as a corporation) and nearly one half of small-business owners use their personal credit cards for business.
The Uses
Purchasing power. Businesses that are experiencing tight cash flow can obtain the goods and services they need by charging items on a credit card. For instance, say you have outstanding receivables but need to purchase something immediately. You can charge it today with the... Read more
Tags: advice, Barbara Weltman, BarbaraWeltman.com, credit cards, tips
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Published June 25th, 2007
Unless you have an all-cash business, you may not receive the payments you expect. Bounced checks, credit card chargebacks, and even scams can keep you from getting paid. Here are ideas to ensure payment.
Other than the corner hot dog truck, most companies today transact business with checks, credit/debit cards, PayPal, gift cards ("smart" cards), or electronic transfers. According to February 2007 statistics from FreshBooks , 16% accepted Visa, 7.8% MasterCard, 4.3% Amex, 6.5% PayPal and 65.5% other payments (checks; account credit). These seemingly "secure" payment methods can be anything but secure. Merchants bear the financial risk for fraudulent credit... Read more
Tags: Accounting, Barbara Weltman, BarbaraWeltman.com, chargebacks, credit cards, Finance, Finance and Accounting, merchantbillofrights.com, scams
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