Paul asks…
How does a business start excepting credit cards that has never taken credit cards before ?
we have a small business and want to start excepting credit cards as payment but don’t know where to start ?? do I call the bank or visa or master card ??
admin answers:
You need a merchant service account. There are many companies out there that can provide this for you. I would search google for “merchant services” this should give you a lot of choices. Be careful though! The merchant service industry makes there money trying to confuse their clients. There are different rates for swiping a card or punching the numbers in manually. If a customer uses a reward card you are going to pay a higher rate. You MUST shop these rates against at least three companies. Good Luck!
Nancy asks…
Is there a business credit card that requires no personal gaurentee?
Is there a business credit card that requires no personal gaurentee?
I have excelent business credit and need a business visa or mastercard for working capital.
admin answers:
Before applying for a small business credit card that fulfills your needs, shop around. Search online or contact the different card companies to find out the fees and the interest rates. Select the one, which has the lowest fees as well as interest rates. Just like a credit card for personal use, be smart with using your small business credit card. If not used judiciously, it can land you in debt problem.
Betty asks…
Can a US business visa be rejected due to non payment of credit card bills in the US?
I was in the US from 2006 to 2008 and came back to India after i got over with my degree. I owe about 2000 USD for my credit card bills. I will be going to the US again this month in a business visa. Will there be any issues in getting a visa due to non payment of the credit card payments?
admin answers:
Yes
Mark asks…
Need to find Visa credit card processor for low volume business need.?
I have occassional customers who need to pay us via credit card. This happens roughly once every four months or so.
Right now, I have to turn this business away. Where is a place that we can process credit cards that will not cost a monthly fee, but will take a higher percentage of the deal (instead of 3%, I’d be happy with a 6% fee).
Our transactions are roughly $500 per transaction.
admin answers:
Every processor is going to charge a monthly fee. Figure about $10.00 per month.
A $500.00 transaction every 4 months would only get the processor $7.50 per month. They have maintain the account, send statements, etc.
If you add credit cards. Most businesses start generating more sales because people are more willing to spend more of the money they don’t have.
David asks…
what are the charges for a business accepting 1) visa credit card and 2) Master credit card?
admin answers:
It would depend entiely on the quantity and value of the transactions.I got my initial pdq machine from barclays who charged me 4.5% for all credit card transactions and 35p for debit cards. Five years ago I switched to streamline who charge 1.2% for credit cards and 17p for debit cards so shop around
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