HWBI INTERNET RESOURCES

An Introduction To Accepting Credit Cards On The Internet Part-13

2006-06-08T18:34:00.000-07:00

Secondly, it's fair to say that all merchant account providers, be they bank, intermediaries or third party processors charge fees. This may involve a set per-month fee and/or a per-transaction fee (such as 5% of the value of each purchase). Unfortunately as you might expect, those of the third party processors are generally far, far higher than those charged to businesses who possess their own merchant account.

Lastly in this argument is the fact that you are far more limited in your dealings with a third party service than your own merchant account.

What I mean by this is that you have to send your visitors to their website to make their purchase, which makes you look less professional and you generally have to use the third party processors designated order form, with their name on, though some level of customization is usually possible such as adding your company logo.

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An Introduction To Accepting Credit Cards On The Internet Part-12

2006-06-07T20:03:00.000-07:00

However, now we turn to the negative side of the story. Firstly, most merchant account intermediaries deposit the money paid by your customers in 24-48 hours. This means that you receive payment swiftly which helps keep your business finances bouyant and enable you to expand your operation faster.

In contrast, third party processors on average pay every 14-28 days depending on the company in question. Some will even pay you mid-month, for the previous month's takings - meaning you may have to wait up to 45 days for the settlement of funds. Clearly this stunts your business and can leave you open to problems.

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An Introduction To Accepting Credit Cards On The Internet Part-11

2006-06-06T19:43:00.000-07:00

For the new startup who have tried unsuccessfully to gain their own merchant ID, third party processing is the way to go.

As with any other method there are benefits and distinct problems with third party processors.

The first benefit is clear - easy, quick and cheap setup. Many third party processors also offer additional services, some paid for, some free.

For example, Kagi can set you up with a free digital download service so customers can instantly and safely download your ebook or software after purchase.

Others such as Clickbank come with built-in affiliate software as standard. These are just two examples I have chosen from many which illustrate possible savings in terms of time and money.

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An Introduction To Accepting Credit Cards On The Internet Part-10

2006-06-05T20:14:00.000-07:00

The third and final method of accepting credit cards on your website is to use a third party service.

In this case, your business itself is not granted it's own merchant ID but rather you utilise the merchant account of another company.

Setting up an account with a third party processor is tremendously easy - it's a case of filling in a simple form with your name, address etc. and you're away. Some of these services are free to set up whilst others require a small "activation fee".

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An Introduction To Accepting Credit Cards On The Internet Part-9

2006-06-04T19:11:00.000-07:00

It's just like your car insurance. Your rates are better if your car is nice and safe (boring, even), is kept in a garage at night and you've never had a crash, so think of it this way.

Even if you do get accepted, you may well find that if you appear safer, the rates you are offered will be better. If in doubt apply.

You might just get a nice surprise, and the sources we recommend allow you to apply without paying an application fee so there's no risk to you whatsoever.

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An Introduction To Accepting Credit Cards On The Internet Part-8

2006-06-02T19:21:00.000-07:00

While I have no evidence to back me up on this point I believe that forming a limited company (so you become Pig Farmers Inc. or Swine Herders Ltd.) makes you look more professional and as result less risky. As one can form such a company over the Internet these days for a tiny amount of money I think it's well worth it if in doubt.

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An Introduction To Accepting Credit Cards On The Internet Part-7

2006-06-01T16:45:00.000-07:00

The greatest tip I can give you when applying through these companies is this - minimise risk. Of applicants that do get refused many of them are refused on the grounds of high risk. That's what these companies look for. So wherever possible, find ways to make your business appear a "safe bet" and you'll greatly increase your chances.

I don't mean lie - far from it - you'll end up in far more trouble than it's worth but...

Aim to start small, selling low priced items. Aiming to sell a few hundred $10 items per month is much less risk than aiming to sell 10,000 television sets. Think small to start off with, then expand slowly.

Prove you're financially solvent - some companies will ask you to prove your personal net worth. They may ask about your credit card bill, mortgage and more so minimize your debt wherever possible.

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An Introduction To Accepting Credit Cards On The Internet Part-6

2006-05-31T20:19:00.000-07:00

Having said that, banks are slowly starting to introduce services to help internet companies, but in today's business climate I feel certain you'd be better putting your time, energy and cash into gaining a merchant account through the second route - using an intermediary.

Intermediate companies do exactly what it sounds - they form a defence between the bank and yourself. Whilst this may at first sound like a disadvantage because there's another body to get authorised by, the matter is quite the reverse.

Intermediary companies understand the banks and what they look for in a new client. They can "pitch" your application right and many boast enviable acceptance rates, even for non-US merchants.

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An Introduction To Accepting Credit Cards On The Internet Part-5

2006-05-30T08:20:00.000-07:00

Add to this the fact that many banks are still developing their e-commerce services. You see, banks offer different types of merchant accounts depending on the situation.

For example, those accounts for retail are usually considerably easier to gain than an Internet account. This is primarily because the retail "swipe card machine" (or PDQ) involves physically swiping the card then checking the signature.

On the Internet of course, the number is just typed in and you can't check the signature so there's a far greater risk of fraud.

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An Introduction To Accepting Credit Cards On The Internet Part-4

2006-05-29T21:30:00.000-07:00

The most direct route to gain a merchant account is through your local bank. Many banks will automatically send you details of their own particular service when you open a business account.

The problem with many banks is that as large, powerful institutions many are loathe to accept small businesses and startups.

For example, 12 months or more of audited accounts may be required, business plans or evidence of considerable investment capital.

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An Introduction To Accepting Credit Cards On The Internet Part-3

2006-05-29T11:51:00.000-07:00

They are:

*Gain your own merchant account from your bank
*Use a broker or intermediary to gain your own merchant account
*Use a third party service

Let's look at these three options in more detail.

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An Introduction To Accepting Credit Cards On The Internet Part-2

2006-05-27T14:05:00.000-07:00

Whatever your circumstances the aim of this article is to give you a quick start in accepting credit cards on the Internet.

Once you understand the basic concepts then hopefully the other articles on this site will help you decide exactly what's right for you.

To enable you to accept credit cards online, there are three methods you can use.

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An Introduction To Accepting Credit Cards On The Internet Part-1

2006-05-26T15:54:00.000-07:00

If you have a website and you don't accept credit cards then you're losing massive amounts of business.

Even if you do accept credit cards it may be worth considering an alternative that will either offer you better rates or save you time.

Infact, if you're within the United States of America or Canada, there are a large range of options open to you.

Unfortunately; if you're located outside these jurisdictions life becomes a little more complicated - though by no means impossible.

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Tips for managing your credit cards Part-12

2006-05-23T18:51:00.000-07:00

Explore the options

Today's cards offer a wide range of excellent features, including frequent flier points, programs that bank points toward a new car, and cards that support charitable organizations. Other options worth having include car rental insurance coverage, trip cancellation coverage, and extended warranty coverage.

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Tips for managing your credit cards Part-11

2006-05-19T21:04:00.000-07:00

Lower is better: read the fine print and find the Annual Percentage Rate (APR). This is the interest rate the companies charge you if you carry a balance. You want the lowest rate possible; as each percentage point drop will save you money on the months you have an outstanding balance.

Nothing can be better: Try for a credit card that does not charge an annual fee. Many credit cards charge you a fee each year to use their cards. While this may be offset by other benefits the card may offer, you can find cards that do not charge this annual fee. Why pay for the privilege of using a credit card when you don't have to?

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Tips for managing your credit cards Part-10

2006-05-13T20:14:00.000-07:00

Get the right card

With all the choices in cards available, chances are good,very good, you can find a better card for your needs. Today's cards can save you money, offer better features, and even support a cause you believe in. Here are some tips on finding the right card and where to check that you have the best card for your needs.

Tips:

Be alert for companies offering a great interest rate for transferring your existing balance to their card. Usually these rates are only in effect for a short time, often six months. At the end of this time, the rate can revert to a much higher permanent rate. Keep your eye on the Annual Percentage Rate (APR); this is the figure that counts in the long run.

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Tips for managing your credit cards Part-9

2006-05-08T12:51:00.001-07:00

Review your credit history regularly

After you have obtained the best credit card, and are using it wisely, review your credit history on a regular basis. This helps ensure your history is accurate and that any issues have been resolved to your satisfaction.

North America has three national credit-reporting bureaus. Your credit rating is held at one or more of these bureaus. When checking on your rating, be sure to contact all three, as your rating may be held on file at more than one bureau. The three national credit bureaus are Equifax, Experian, and Trans Union. Check the Yellow Pages, under Credit to find the numbers in your area.

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Tips for managing your credit cards Part-9

2006-05-08T12:51:00.000-07:00

Tips for managing your credit cards Part-8

2006-05-03T18:16:00.000-07:00

Call your credit card company instantly if you suspect trouble. All credit card companies have 24 hour lost and stolen help lines. If you lose your wallet or purse or have it stolen, call without delay! Much fraud happens within the first hour or two, before the victim realizes the cards are missing. Your credit card company will block your cards from being used and stop you from being responsible for any charges thieves incur.

Take advantage of any security features your card offers. Many newer cards have the option of including your photograph on the card. This is excellent protection and is highly recommended.

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Tips for managing your credit cards Part-7

2006-04-29T19:58:00.000-07:00

Use caution when giving your credit card number out on the phone or on the Internet. Only give out your credit card number on telephone calls you initiate to business or organizations you trust. Never give your number out to callers who call unannounced, no matter how legitimate the call sounds.

On the Internet, look for an Internet address that begins https:\. The "s" indicates that it is a secure connection and a small padlock symbol should appear in the bottom right hand corner of your screen, indicating it is safe to transmit your credit card number.

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Tips for managing your credit cards Part-6

2006-04-26T19:34:00.000-07:00

Shred old credit card receipts. You can purchase an inexpensive paper shredder at an office supply store. All old receipts with your credit card number and any unneeded documents with your social insurance number or other sensitive personal information should be shredded before disposal. This prevents the common practice of criminals going through the trash to find receipts and stealing your identity

Never fax your credit card number. Your credit card number can lie for hours in the fax basket at the other end. Anyone passing by can record your number and begin to use your card number fraudulently. It is even possible for criminals to intercept your credit card number while the fax is in transmission.

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Tips for managing your credit cards Part-5

2006-04-23T16:57:00.000-07:00

Protect yourself against fraud

While credit card fraud is a problem, here are a few simple steps you can take to greatly reduce the risk of becoming a victim.

Tips:

Sign new cards immediately. When you receive your new or replacement card in the mail, sign it, in ink, right away. If it is a replacement card, destroy the old card by cutting it into many small pieces.

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Tips for managing your credit cards Part-4

2006-04-20T14:31:00.000-07:00

Transfer your balance to a card with a lower interest rate. If you have two or more credit cards with outstanding balances, consider moving the outstanding balances to the card with the lowest interest rate. You will save money each month and simplify your record keeping by receiving only one bill.

Negotiate for a lower rate with your credit card company. If you have a good credit history, you are a valuable asset to your credit card company. Call them and seek ways to lower your interest rate. This is often possible, but never advertised. If the interest rate you are currently paying is very high, imply you may cancel the card and go with a competitor unless they adjust your rate downward. It doesn't hurt to ask, and you may be surprised at the results.

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Tips for managing your credit cards Part-3

2006-04-18T10:08:00.000-07:00

If you can't pay off your balance in full, then slow down on your credit card use for the next while. Take time to step back and have a careful look at how much you earn and how much you spend each month. A little budgeting can save you big money down the road.

Check your statement carefully each month. Review your statement carefully. Do all the charges look correct? Have any required credits been applied? Are there any unusual or unexpected charges? Your credit card company will correct legitimate errors, but only if you bring them to their attention in a timely manner before you pay your bill.

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Tips for managing your credit cards Part-2

2006-04-15T08:52:00.000-07:00

Follow these simple tips to get the most from your card.

Tips:

Pay your credit card bills on time. This is the single most important thing you can do to preserve and enhance your credit rating. Always pay at least your minimum payment and allow time for your payment to reach the company if you are using the mail.

If possible, pay off your balance in full each month. If this is not possible, then make as large a payment as you can comfortably afford. Paying off or paying down your balance is a sound financial move—one that will save you money on interest charges.

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Tips for managing your credit cards Part-1

2006-04-13T13:53:00.000-07:00

The Beginning of the Credit Card Era

In 1951, Diners Club issued the first credit card to 200 customers who could use it at 27 restaurants in New York City. From that modest beginning, credit cards have become an indispensable part of modern life. Consumers rely on credit cards to help them achieve their lifestyle goals by letting them take advantage of special bargains, spread payments out over several months, and provide cash in emergencies. Credit cards have become so widespread that they are often accepted as a piece of primary identification.

Getting the most from your credit cards involves four main steps:

Use your credit cards wisely.
Protect yourself against fraud.
Review your credit history regularly.
Get the right card for your needs.

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RESEARCH PROPERTY Part-2

2006-03-31T09:51:00.000-08:00

Research the Property's Past and Present
Some essential information must be obtained about the property's past. For example, do you know the history of the property, or even how old it is? What sort of upgrades have been made to the home? Is the roof waterproof, and is the plumbing and electrical in working order?
What's the Neighborhood Like?
Once the overall condition of the property has been assessed, tax assessment records must be examined to determine property value trends. A good REALTOR will be familiar with the neighborhood where the property is located and if he or she is not, the REALTOR should check the neighborhood at different times of the day and night and speak to some neighbors. If there is a homeowners association, check the guidelines, assess fees, and be certain they allow rental of properties.

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HOW TO RESEARCH INVESTMENT PROPERTY

2006-03-29T11:24:00.000-08:00

HOW TO RESEARCH INVESTMENT PROPERTY - PART 1
How much do you really know about investment property? Accurate research and professional expertise applied to the purchase of an investment property builds a solid foundation for financial success. You may want to work with a REALTOR who can help to identify the great opportunities in investment properties in the area of your choice. Or, you may choose to do the work on your own. A REALTOR can provide the inside line on properties with potential in the geographic area where you are looking for property. If you do choose to work with a REALTOR, you will save time, and you may have more choices and opportunities. INVEST, INVESTMENTS, LOANS AND MORE