When did credit cards start doing this?
8 years ago
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Starting Small...When to accept credit cards
Comments (8)Ok .. here is my experience. Cons ... Credit cards will add an additional complexity to your business accounting ... A bit more liability ... There are some start up cost to get started. More overhead ... ( fixed overhead even if you don't use the card ) It's not free .. you will give a percentage on everything you charge .. If you do not use the credit card often enough and don't maintain a high enough volume of credit sales keeping the cards will become a dead end expense ...so look over your sales history. Also .. if a client cancels a sale it will cost you .. you need to decide how to handle this transaction. Pros ... I have made some sales that would of been impossible without the cards .. you will have an additional sales tool when the client needs to pay. Cash or charge ?? Myself I did a lot of small repair jobs .. irrigation .. the card was very useful ... overall offering credit cards was useful but you need to keep credit sales up to make the card worthwhile. By the way there are a lot of scams out there .. sometimes a small new company may have a hard time getting set up with credit cards .. you need a credit history / bank account ect .. there are scam artist out there that promise to set you up with credit cards and sell you very expensive contracts or gear ect .. shop around .. there are some start up cost involved but these should be very modest. Good Day ......See Morea warning about using credit union-issued credit cards
Comments (5)I am a merchant who accepts credit cards. On this end it's pretty cut and dry. I get a notice of a chargeback and I must produce my copy of the credit card receipt with their signature on it. It must be either imprinted or through a terminal. With online sales I must produce the hard copy of the order. I have 5 business days to either send or fax my copy proving the charge, or the money is automatically deducted from my bank. Plus a $25 fee. I get chargebacks because I'm an artist who does art and craft fairs throughout the northeast and there are times people in say, New Jersey see a charge from a company they never heard of in Vermont. "I've never been to Vermont!" So they challenge. I produce the receipt and a note they made a purchase at such and such craft fair, and it's done. Go to your credit Union in person and talk to someone who can actually help you. Have someone with some authority help you. You're finding out phone tag doesn't work. Go up the chain of command at the CU to get things done. You have 24 months from the date of the alleged charge to challenge it. The merchant has 5 business days to answer....See MoreHow many credit cards do you have?
Comments (29)I've had one major card for several years - almost always pay off balance due in full before the due date, resulting in no interest paid. I recently took out another at low rate on transfers for about nine months and planned to use it to pay for stock purchase, but haven't bought for a while, so the 1.9% rate period is winding down. The Line of Credit rate was about 4.25% a while ago, but then a new prime rate came out, lower ... but they tacked on a surcharge of 1.5% due to the economic slump, resulting in my rate becoming 5.0%, if I wanted to use it. Hi again Angela ID, What's the possibility of persuading your local financial institution (bank, credit union) to give you a loan to cover the balance owing on the card?? Their rate, even on an unsecured loan, will be a lot lower, I'm sure. Also, if you have a GIC, CD, bond, etc. ... including stocks' or mutual funds' certificates, an insurance policy, if you have "whole life" with built-up cash value, using them as collateral to undergird the loan will earn you a much reduced interest rate, as well, I expect. When you can build up some cash as a cushion, then use it to buy some investment assets, if you leave them with the bank/credit union as collateral for a Line of Credit, your rate will be quite low, almost certainly. Try to arrange one with no set-up fee, and no fee for periods in which it lies unused, even for substantial periods. I've done that, and when I have an emergency develop, I use the card to cover it, then draw on the Line of Credit to pay off the balance on the credit card just before due date, to avoid interest. I won't pay an annual fee for a credit card, either. Good wishes for getting that debt eliminated before too long, and at as low a rate of interest as possible, in the meantime. ole joyful...See MoreAbout giving your ZIP code when using a credit card
Comments (19)Pay at the pump often asks for it. It's common sense. If the card is stolen the perp probably won't know the zip code. Wildchild put it aptly. This is a scare tactic by an outfit trying to raise money and scare people into signing up. Shame on them. No way will I ever support that scam outfit now. They *did* admit that there's marketing reasons to ask for a zip code. But really, identity theft from a zip code is approaching laughable. There may be some outfits with ulterior motives but not all as that scam outfit suggests. If you're that paranoid, just give a different zip. But if it's a verification, you might not be able to make the purchase or worse, have to explain to the cops when they question whether you stole the card! LOL Even those who go so crazy over phone numbers need to think a bit. When I make online purchases they need the phone number registered to the credit card to verify the card is good. And I've had random checks to be sure that I was making a purchase too. As far as junk mail, credit card outfits already sell your name, theoretically you can opt-out but I'm not sure about that with some of them. Isn't it ironic that AARP should talk about *junk* mail? LOL I get more junk mail from cAARP than from any other outfit. The way they cull public records to gain mailing lists and prey on the vulnerable and now this? That outfit has had little respect from me in the past and now exploiting the vulnerable even more. They're disgusting....See More- 8 years ago
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- 8 years agolast modified: 8 years agoUser thanked Jenn TheCaLLisComingFromInsideTheHouse
- 8 years agolast modified: 8 years agoUser thanked Jenn TheCaLLisComingFromInsideTheHouse
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