Posts Tagged ‘credit cards’
by Steve Strauss on January 13th, 2010
Q: Over the past 18 months, we have piled up quite a bit of debt. Most of it is on our credit cards – trying to keep business creditors paid and what not. I don’t think I need to file bankruptcy. Is there some other way to get out from under?
Vance
A: How would you like to get out of debt for about 50 cents on the dollar? I’ll tell you how in a moment.
Although there is very little that is good that can be said about this economy, if there is one bright spot, it is this:... Read more »
by Christina Lee on June 2nd, 2009
As small business owners continue to seek credit in any way they can, recently passed legislation may end up eliminating one viable option: credit cards.
Over the past few years, credit card companies and small business owners have become more dependent on each other to conduct business. About 12 percent of 6 billion mailed credit card offers target small businesses, while their owners account nearly as much of all Visa and MasterCard charges, according to industry studies.
But with the development of the economic downturn, both are now struggling to stay afloat. And as small business owners continue to rely... Read more »
by Leeia Ladipoh on May 2nd, 2008
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 »
by Larry Slusser on 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 »
by Carrie Hinkel on 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 »
by Carrie Hinkel on 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 »
by Leeia Ladipoh on 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 »
by Rebecca Button on 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 »
by Danny Brown on 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 »
by Veronica Stone on 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 »