Taking Advantage of Online Offers Without Giving Up Your Credit Card Info
By Jeffrey Solochek
My wife works for the local BlockBuster video in town and they are supposed to get people to sign up for an online account but the problem is that a lot of people are afraid to sign up for these things because of fear of having to put their credit card info on the form. With the world coming online credit card fraud is on the increase. How are we able to take advantage of the savings from these online offers without having to give up our personal credit card information?
Whenever I sign up for anything that says it is going to deduct from a credit card I get one of those prepaid credit cards and only put enough on the card to take care of any online obligations. This way I don't have to worry about additional charges or somebody hacking into this companies computers and getting all my information. You would think that stores like Blockbuster Video would sell prepaid credit cards in their stores so that they could offer this option to customers thus increasing the number of online accounts they are taking every day.
Prepaid credit cards is a great way to eliminate the fear of online purchases.. Even when purchasing from a site like Ebay you can make use of these prepaid credit cards. I have very rarely found a site that won't accept the use of a prepaid card. The only card I have ever had refused was one of those prepaid American Express gift cards. My GreenDot card has never been turned down and they don't charge a transaction fee like a lot of cards do.
Another option would be to set up a small savings account at your local bank and get a Visa debit card. The only thing I don't like about these debit cards is it is very hard to ever dispute a transaction on them. A regular credit card will give you usually about 30 days to dispute a transaction whereas Discover card says they will give you 90 days and a friend of mine who has an American Express card says they will allow him to dispute a transaction for a year.
Now I did have a Discover card at one time and I used it to by some software. The software was defective so I disputed the transaction but all Discover Card cared about was that I had received the software. They stated that they did not care that the software did not work that if that were the case I should dispute it directly with the merchant.
Jeffrey has over 2 decades experience in the business world. When he writes he blends his unique wit and humour into every article which if you read his blog you can see all of his many works. http://www.nosugarcoating.info
Article Source: http://EzineArticles.com/?expert=Jeffrey_Solochek
http://EzineArticles.com/?Taking-Advantage-of-Online-Offers-Without-Giving-Up-Your-Credit-Card-Info&id=493993
Monday, May 14, 2007
Saturday, May 12, 2007
Merchant Account Services
Gambling Merchant Accounts – 10 Points to Ponder
By Jessica Gables
Choosing a gambling merchant account, much like choosing any other merchant account or online payment gateway, requires a good deal of thought and consideration, as the main purpose of an Internet payment gateway is to ensure the safe and secure transaction of funds between an online service provider and a client.
There are a multitude of merchant accounts to be found on the Internet today, with some of them choosing to handle transactions for specific online businesses, while others choose to handle all forms of online businesses that require a payment gateway. Certain forms of businesses have been classified as “high risk”, primarily because of some aspect of the business.
A high risk merchant account is usually defined by factors such as type of industry, credit history, processing history, average ticket, monthly processing volume, and location of business.
Businesses that are considered high risk include adult content, pharmaceuticals, gambling, magazine subscriptions, streaming or downloadable content, dating services, travel and travel related services.
Here are some pointers to consider when looking for a viable gambling merchant account provider:
1. Make sure to do a market research. Talk to someone who has spent years in the business, you can learn a lot of important things from them.
2. Be sure to check the big numbers, cancellation fees, and most importantly, the hidden fees up front. A merchant account provider who really wants to do business with you will at least try to work with you to adapt to your capabilities.
3. Be sure to compare the different discount rates offered by the various payment processors. There will always be a merchant account provider offering good services online with a much better rate than others.
4. Be careful about advertisements that can be misleading or appear suspicious. If they lie on their ads then most likely they will do the same to you.
5. Verify the integrity of the company. Do a background check and see if the company is known for good business practices and if they have transacted with companies like yours.
6. Do not make a habit of signing a contract too hastily. Read the application carefully because some contracts carry a non-cancellation clause or penalty. If a company will not leave an application with you overnight, they are probably trying to use "high pressure" tactics so that you don't have time to really know what you are signing.
7. Find out what people are saying about the merchant account provider and see which provider has the best reputation. Oftentimes the best form of marketing is by word of mouth, as these connote first hand experience and not just hearsay.
8. In choosing a credit card payment processor, check out the fees and services. Compare which one will work best for your business.
9. Check out how and when will you get the payment. Some merchant account providers have a minimum amount before they send you the payment. Others may charge you with wire transfer fees.
10. Avoid companies with high monthly fees. These providers will drain you of your resources. Many of these companies rely on those monthly fees to compensate their marketing and sales efforts.
Jess Gables is a traveling journalist and author of numerous articles published in travel and hotel service sites, television programs and print materials. She is also a large contributor of articles to various online resource cites, garnering the reputation of being a trusted author on various topics. Gables is a content producer for various resource websites, and she has a background in photography, videography, pre and post production and online affiliate marketing.
Article Source: http://EzineArticles.com/?expert=Jessica_Gables
http://EzineArticles.com/?Gambling-Merchant-Accounts---10-Points-to-Ponder&id=473606
By Jessica Gables
Choosing a gambling merchant account, much like choosing any other merchant account or online payment gateway, requires a good deal of thought and consideration, as the main purpose of an Internet payment gateway is to ensure the safe and secure transaction of funds between an online service provider and a client.
There are a multitude of merchant accounts to be found on the Internet today, with some of them choosing to handle transactions for specific online businesses, while others choose to handle all forms of online businesses that require a payment gateway. Certain forms of businesses have been classified as “high risk”, primarily because of some aspect of the business.
A high risk merchant account is usually defined by factors such as type of industry, credit history, processing history, average ticket, monthly processing volume, and location of business.
Businesses that are considered high risk include adult content, pharmaceuticals, gambling, magazine subscriptions, streaming or downloadable content, dating services, travel and travel related services.
Here are some pointers to consider when looking for a viable gambling merchant account provider:
1. Make sure to do a market research. Talk to someone who has spent years in the business, you can learn a lot of important things from them.
2. Be sure to check the big numbers, cancellation fees, and most importantly, the hidden fees up front. A merchant account provider who really wants to do business with you will at least try to work with you to adapt to your capabilities.
3. Be sure to compare the different discount rates offered by the various payment processors. There will always be a merchant account provider offering good services online with a much better rate than others.
4. Be careful about advertisements that can be misleading or appear suspicious. If they lie on their ads then most likely they will do the same to you.
5. Verify the integrity of the company. Do a background check and see if the company is known for good business practices and if they have transacted with companies like yours.
6. Do not make a habit of signing a contract too hastily. Read the application carefully because some contracts carry a non-cancellation clause or penalty. If a company will not leave an application with you overnight, they are probably trying to use "high pressure" tactics so that you don't have time to really know what you are signing.
7. Find out what people are saying about the merchant account provider and see which provider has the best reputation. Oftentimes the best form of marketing is by word of mouth, as these connote first hand experience and not just hearsay.
8. In choosing a credit card payment processor, check out the fees and services. Compare which one will work best for your business.
9. Check out how and when will you get the payment. Some merchant account providers have a minimum amount before they send you the payment. Others may charge you with wire transfer fees.
10. Avoid companies with high monthly fees. These providers will drain you of your resources. Many of these companies rely on those monthly fees to compensate their marketing and sales efforts.
Jess Gables is a traveling journalist and author of numerous articles published in travel and hotel service sites, television programs and print materials. She is also a large contributor of articles to various online resource cites, garnering the reputation of being a trusted author on various topics. Gables is a content producer for various resource websites, and she has a background in photography, videography, pre and post production and online affiliate marketing.
Article Source: http://EzineArticles.com/?expert=Jessica_Gables
http://EzineArticles.com/?Gambling-Merchant-Accounts---10-Points-to-Ponder&id=473606
Friday, May 11, 2007
Merchant Account Services
Credit Card Merchant Account – Do You Need One?
By Shane Penrod
There are many reasons why a creditcard merchant account may be
right for your business. If your customer base is growing
steadily or if you are having problems finding time to collect
delinquent accounts, a credit card merchant account may be the
answer to your difficulties. A merchant account allows you to
partner with an acquiring bank to process credit card payments
made on your company’s Internet Website. You also may wish to
consider adopting wireless services as well as other electronic
equipment that can help you facilitate online transactions.
A credit card merchant account is the first step toward
establishing an international business presence. After the
account has been approved and opened, often within a few days,
you can arrange to install a credit card processing unit that
will allow clients to make Internet payments at your Website.
You can save thousands of dollars in human resource staffing
when you rely on electronic equipment to manage some of these
functions for you, including customer service inquiries,
orders, payments, and other related functions. Your job may
become easier than ever while profits soar to new heights.
Customers will appreciate the ease and convenience of browsing
your company’s products or services online at any time of the
day or night without the pressure of a sales associate looking
over their shoulders.
Failing to open a merchant account will thus deprive your
customers of the benefits of online shopping and avoiding cash
transactions. If you are unwilling to provide e-commerce
options, they are likely to find other customers who already
have posted credit card processors for easy shopping payments
and checkout. Your credit card merchant account can put you
ahead of the competition, as others will see you as an
innovative leader in your field and bring their business to you
instead of other entrepreneurs who do not yet have merchant
accounts.
Opening a credit card merchant account is easy. In many cases,
all you need do is fill out a form online at a suitable
financial institution like a bank or credit union that manages
this type of accounts. In a day or two your account could be
approved, especially if you have a good credit history and a
specific plan for operating your business so as to avoid
overextending your company assets. After being approved, you
could be operating under your new merchant account status
within three days or so. As your company Website begins to
accept credit card payments, the word will get around and you
soon could be seeing unexpected high-income levels due to your
merchant status as well as a growing reputation for
sophisticated business practices.
Browse the many local banking institutions that are waiting to
work with you to provide a merchant account that will enhance
the way you do business. Then request credit card processing
equipment to handle online payments from enthusiastic
customers. Business has never been better for those who take
the initiative to explore this exciting new way of making money
by opening a credit card merchant account.
About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
By Shane Penrod
There are many reasons why a creditcard merchant account may be
right for your business. If your customer base is growing
steadily or if you are having problems finding time to collect
delinquent accounts, a credit card merchant account may be the
answer to your difficulties. A merchant account allows you to
partner with an acquiring bank to process credit card payments
made on your company’s Internet Website. You also may wish to
consider adopting wireless services as well as other electronic
equipment that can help you facilitate online transactions.
A credit card merchant account is the first step toward
establishing an international business presence. After the
account has been approved and opened, often within a few days,
you can arrange to install a credit card processing unit that
will allow clients to make Internet payments at your Website.
You can save thousands of dollars in human resource staffing
when you rely on electronic equipment to manage some of these
functions for you, including customer service inquiries,
orders, payments, and other related functions. Your job may
become easier than ever while profits soar to new heights.
Customers will appreciate the ease and convenience of browsing
your company’s products or services online at any time of the
day or night without the pressure of a sales associate looking
over their shoulders.
Failing to open a merchant account will thus deprive your
customers of the benefits of online shopping and avoiding cash
transactions. If you are unwilling to provide e-commerce
options, they are likely to find other customers who already
have posted credit card processors for easy shopping payments
and checkout. Your credit card merchant account can put you
ahead of the competition, as others will see you as an
innovative leader in your field and bring their business to you
instead of other entrepreneurs who do not yet have merchant
accounts.
Opening a credit card merchant account is easy. In many cases,
all you need do is fill out a form online at a suitable
financial institution like a bank or credit union that manages
this type of accounts. In a day or two your account could be
approved, especially if you have a good credit history and a
specific plan for operating your business so as to avoid
overextending your company assets. After being approved, you
could be operating under your new merchant account status
within three days or so. As your company Website begins to
accept credit card payments, the word will get around and you
soon could be seeing unexpected high-income levels due to your
merchant status as well as a growing reputation for
sophisticated business practices.
Browse the many local banking institutions that are waiting to
work with you to provide a merchant account that will enhance
the way you do business. Then request credit card processing
equipment to handle online payments from enthusiastic
customers. Business has never been better for those who take
the initiative to explore this exciting new way of making money
by opening a credit card merchant account.
About the Author: Shane Penrod is the founder of
Merchant-Account-Quotes.com Specializing in allowing merchants
the ability to shop and compare multiple quotes from national
merchant account providers. For free quotes on merchant account
rates and fees, please go to
http://www.merchant-account-quotes.com
Source: http://www.isnare.com
Thursday, May 10, 2007
Merchant Account Services
Accept Credit Cards Online Without a Merchant Account
By Joe Duchesne
There are two major ways to accept credit cards on your website. The first and most expensive is to have your own merchant account. Not only is this option expensive, it also requires extensive credit checks, lots of paperwork, and usually takes days or weeks before you get approved. Fortunately, there is an alternative.
Third party payment processors who will accept credit card payments on your behalf exist in growing numbers. These third party processors will take a percentage of your sale for their troubles, then pass on the rest to you. Rates vary greatly from one payment provider to another so doing your homework is important in order to get the right fit for you. Some payment providers will accept all kinds of goods and services while others specialize in only digital products, or hard goods, or services.
General Purpose Payment Providers include:
Paypal – Owned by Ebay, Paypal offers one of the lowest rates of any third party payment processor. At the time of this writing, their standard rates were 2.9% plus $0.30 US per transaction. Paypal offers excellent support and great documentation to get you up and running in no time at all. www.paypal.com
2checkout.com – Has a $49 US one time setup fee. Their rates at the time of this writing were $0.45 US plus 5.5% transaction fee. Discount rates are middle of the pack, service is very good and through them, you can accept most major credit cards. www.2checkout.com
Digital Information Payment Providers include:
Clickbank – You pay a one time $49.95 US activation fee. They then pay you the retail price of your product minus $1 and a 7.5% fee. Clickbank also has an easy to use affiliate program so that you can make money when others sell your product. www.clickbank.com
Digibuy – An electronic commerce solution for publishers of software, shareware, electronic art, information, and data. They charge a rate of 13.9% per transaction with a $3 US minimum order. They provide you with many features including brandable order forms, invoicing and test orders. www.digibuy.com
All but Clickbank give you the ability to have brandable shopping carts. This allows you to customize your order forms so that the customer doesn't feel like they are leaving your site thereby building trust. All of the third party payment processors above provide you with help to get started.
Accepting credit cards online doesn't have to cost you a lot of money. Most times it doesn't even have to include a credit check. Most of these services will even make regular deposits directly into your bank account for ultimate convenience.
When you need to accept credit cards quickly and inexpensively, one of the payment providers mentioned above just might fit the bill.
Joe Duchesne is the webmaster for turbomerchant.com which specializes in offering information to people looking to sell online via a merchant account and accept credit cards online. Reprint freely as long as the keyword rich link in this resource box stays live and with this article.
Article Source: http://EzineArticles.com/?expert=Joe_Duchesne
http://EzineArticles.com/?Accept-Credit-Cards-Online-Without-a-Merchant-Account&id=9567
By Joe Duchesne
There are two major ways to accept credit cards on your website. The first and most expensive is to have your own merchant account. Not only is this option expensive, it also requires extensive credit checks, lots of paperwork, and usually takes days or weeks before you get approved. Fortunately, there is an alternative.
Third party payment processors who will accept credit card payments on your behalf exist in growing numbers. These third party processors will take a percentage of your sale for their troubles, then pass on the rest to you. Rates vary greatly from one payment provider to another so doing your homework is important in order to get the right fit for you. Some payment providers will accept all kinds of goods and services while others specialize in only digital products, or hard goods, or services.
General Purpose Payment Providers include:
Paypal – Owned by Ebay, Paypal offers one of the lowest rates of any third party payment processor. At the time of this writing, their standard rates were 2.9% plus $0.30 US per transaction. Paypal offers excellent support and great documentation to get you up and running in no time at all. www.paypal.com
2checkout.com – Has a $49 US one time setup fee. Their rates at the time of this writing were $0.45 US plus 5.5% transaction fee. Discount rates are middle of the pack, service is very good and through them, you can accept most major credit cards. www.2checkout.com
Digital Information Payment Providers include:
Clickbank – You pay a one time $49.95 US activation fee. They then pay you the retail price of your product minus $1 and a 7.5% fee. Clickbank also has an easy to use affiliate program so that you can make money when others sell your product. www.clickbank.com
Digibuy – An electronic commerce solution for publishers of software, shareware, electronic art, information, and data. They charge a rate of 13.9% per transaction with a $3 US minimum order. They provide you with many features including brandable order forms, invoicing and test orders. www.digibuy.com
All but Clickbank give you the ability to have brandable shopping carts. This allows you to customize your order forms so that the customer doesn't feel like they are leaving your site thereby building trust. All of the third party payment processors above provide you with help to get started.
Accepting credit cards online doesn't have to cost you a lot of money. Most times it doesn't even have to include a credit check. Most of these services will even make regular deposits directly into your bank account for ultimate convenience.
When you need to accept credit cards quickly and inexpensively, one of the payment providers mentioned above just might fit the bill.
Joe Duchesne is the webmaster for turbomerchant.com which specializes in offering information to people looking to sell online via a merchant account and accept credit cards online. Reprint freely as long as the keyword rich link in this resource box stays live and with this article.
Article Source: http://EzineArticles.com/?expert=Joe_Duchesne
http://EzineArticles.com/?Accept-Credit-Cards-Online-Without-a-Merchant-Account&id=9567
Tuesday, May 8, 2007
Merchant Account Services
How To Comprehend Merchant Service Provider Rates
By: Jim Saka
If you have an online business today, you are well aware of the necessity to have a merchant service of some kind. Being able to accept credit cards online makes it convenient for customers and allows them to feel secure about their purchase with a credit card. For the merchant, it is vital that you are well aware of the merchant service provider rates. Otherwise, it can be easy to spend an arm and a leg on a merchant service.
The first part to understanding your merchant service provider's rates is knowing the classifications of each transaction. Each transaction will fall into the category of either qualified, midqualified or nonqualified. There are several ways the classification is determined, including the Visa/MasterCard regulations, the category of credit card used, whether the address verification system was used and whether the order was shipped within 24 hours.
If the transaction for whatever reason does not satisfy all conditions set by the Visa/MasterCard regulations, the transaction falls into the category of either midqualified or nonqualified. Another way the transaction can be classified as a nonqualified surcharge is by the category of credit card used. If you use a business card, business cards are considered high-risk, which puts the order into a nonqualified surcharge.
What this means is that your merchant service provider rate will be potentially 1.4% more in surcharges because of it being categorized as nonqualified. To avoid being docked any extra rate for transactions, you will want to talk with your merchant service provider to see the list of determinants that put a transaction into nonqualified.
The rates that you really want to watch for when going through a merchant service provider are the discount rate for each transaction and the per-transaction fee. The discount rate is the percentage applied to the dollar value of each transaction. The per-transaction fee, on the other hand, is a flat fee that is assessed after each transaction.
If you have a qualified transaction, the merchant service provider rates will generally be in your favor. However, the rates will fluctuate and could potentially not be the most cost-effective if the transaction is nonqualified or midqualified.
As you can see, having nonqualified or midqualified surcharges can cause high merchant service provider rates. By being aware of how to stay away from these classifications and assure yourself that you fall into the qualified surcharges, your rates will be much more feasible. All in all, it will make more a convenient way for your customers to make transactions using their credit cards while feeling safe at the same time.
Copyright (c) 2007 Jim Saka
Article Source: http://www.ApprovedArticles.com
For more information about Jim Saka or to find out how your business can can benefit from accepting credit cards online or at a place of business visit United Bank Card's merchant account services websites.
By: Jim Saka
If you have an online business today, you are well aware of the necessity to have a merchant service of some kind. Being able to accept credit cards online makes it convenient for customers and allows them to feel secure about their purchase with a credit card. For the merchant, it is vital that you are well aware of the merchant service provider rates. Otherwise, it can be easy to spend an arm and a leg on a merchant service.
The first part to understanding your merchant service provider's rates is knowing the classifications of each transaction. Each transaction will fall into the category of either qualified, midqualified or nonqualified. There are several ways the classification is determined, including the Visa/MasterCard regulations, the category of credit card used, whether the address verification system was used and whether the order was shipped within 24 hours.
If the transaction for whatever reason does not satisfy all conditions set by the Visa/MasterCard regulations, the transaction falls into the category of either midqualified or nonqualified. Another way the transaction can be classified as a nonqualified surcharge is by the category of credit card used. If you use a business card, business cards are considered high-risk, which puts the order into a nonqualified surcharge.
What this means is that your merchant service provider rate will be potentially 1.4% more in surcharges because of it being categorized as nonqualified. To avoid being docked any extra rate for transactions, you will want to talk with your merchant service provider to see the list of determinants that put a transaction into nonqualified.
The rates that you really want to watch for when going through a merchant service provider are the discount rate for each transaction and the per-transaction fee. The discount rate is the percentage applied to the dollar value of each transaction. The per-transaction fee, on the other hand, is a flat fee that is assessed after each transaction.
If you have a qualified transaction, the merchant service provider rates will generally be in your favor. However, the rates will fluctuate and could potentially not be the most cost-effective if the transaction is nonqualified or midqualified.
As you can see, having nonqualified or midqualified surcharges can cause high merchant service provider rates. By being aware of how to stay away from these classifications and assure yourself that you fall into the qualified surcharges, your rates will be much more feasible. All in all, it will make more a convenient way for your customers to make transactions using their credit cards while feeling safe at the same time.
Copyright (c) 2007 Jim Saka
Article Source: http://www.ApprovedArticles.com
For more information about Jim Saka or to find out how your business can can benefit from accepting credit cards online or at a place of business visit United Bank Card's merchant account services websites.
Friday, May 4, 2007
Merchant Account Services
Everything About Chase Free Cash Rewards Visa Card by Richard Gilliland
The J.P.Morgan Chase and Company is one of the renowned and leading financial service providers in the world. It provides its services to over 50 countries in the world.
The myriad of credit cards offered by the Chase Company is very beneficial. The Chase Free Cash Rewards Visa Card is one of the cards, which is popular for its cash back facility. The Cash Rewards Visa Card enables you to earn points and in return, the points can fetch you other gifts and money. If you are interested in getting your cash back, then this credit card should be your option.
Cash Back Reward Program
The credit card is specifically designed for those who have very good credit and would like to benefit from the card's cash back reward program. The cash reward offered by this credit card is very lucrative. You will have ample opportunities to earn points for every dollar you spend and eventually the accumulated points will fetch you gift certificates or cash.
As said, you earn a point for spending a dollar. Again, your first purchase entitles you to 1000 bonus points. Your awards start at mere 2500 points. You will be free to choose your reward - you can opt between $25 gift checks and $25 gift certificate from leading national-level merchant, once you reach the 2500-mark. The maximum number of points you can earn in a year is 60000 points, which have no expiration time as such.
Card Features
If you qualify for the Cash Rewards SM Visa Card, then you can enjoy 0% introductory rate on balance transfers and purchases for the first twelve billing cycles. Once the introductory period expires, you can still enjoy a reasonable APR of 14.24% on purchases and balance transfers. The card is fee free; application fees, participation fees, inactive fees, reload fees, etc., are all non-applicable.
The card features and rewards make it a great option for people who have good credit and clear their payments regularly; however, it may not benefit you if you carry a revolving balance. The 'Two Cycles Average Daily Balance' method for calculating finance charges will cost you heavily - burdening you with huge interests and ruining your prospects for earning cash-back.
The Perquisites
The credit card also offers standard platinum services and benefits. Extended warranty, rental car insurance, travel accident insurance and other similar benefits can be availed with this credit card.
The Chase Free Cash Rewards Visa Card allows you to enjoy many account related services like the emergency cash replacement, emergency card replacement, travel and emergency assistance services, purchase protection, no liability for unauthorized transactions and other such helpful features. Nevertheless, you should pay heed to the limitations, restrictions and exclusions before accepting the card.
About the Author
Richard Gilliland Provides Expert opinions and reviews to help you Compare and Apply for a Credit Card - Compare Credit Card Offers with Credit-Wisdom.com - Unraveling the best in Personal and Business Credit Cards.
The J.P.Morgan Chase and Company is one of the renowned and leading financial service providers in the world. It provides its services to over 50 countries in the world.
The myriad of credit cards offered by the Chase Company is very beneficial. The Chase Free Cash Rewards Visa Card is one of the cards, which is popular for its cash back facility. The Cash Rewards Visa Card enables you to earn points and in return, the points can fetch you other gifts and money. If you are interested in getting your cash back, then this credit card should be your option.
Cash Back Reward Program
The credit card is specifically designed for those who have very good credit and would like to benefit from the card's cash back reward program. The cash reward offered by this credit card is very lucrative. You will have ample opportunities to earn points for every dollar you spend and eventually the accumulated points will fetch you gift certificates or cash.
As said, you earn a point for spending a dollar. Again, your first purchase entitles you to 1000 bonus points. Your awards start at mere 2500 points. You will be free to choose your reward - you can opt between $25 gift checks and $25 gift certificate from leading national-level merchant, once you reach the 2500-mark. The maximum number of points you can earn in a year is 60000 points, which have no expiration time as such.
Card Features
If you qualify for the Cash Rewards SM Visa Card, then you can enjoy 0% introductory rate on balance transfers and purchases for the first twelve billing cycles. Once the introductory period expires, you can still enjoy a reasonable APR of 14.24% on purchases and balance transfers. The card is fee free; application fees, participation fees, inactive fees, reload fees, etc., are all non-applicable.
The card features and rewards make it a great option for people who have good credit and clear their payments regularly; however, it may not benefit you if you carry a revolving balance. The 'Two Cycles Average Daily Balance' method for calculating finance charges will cost you heavily - burdening you with huge interests and ruining your prospects for earning cash-back.
The Perquisites
The credit card also offers standard platinum services and benefits. Extended warranty, rental car insurance, travel accident insurance and other similar benefits can be availed with this credit card.
The Chase Free Cash Rewards Visa Card allows you to enjoy many account related services like the emergency cash replacement, emergency card replacement, travel and emergency assistance services, purchase protection, no liability for unauthorized transactions and other such helpful features. Nevertheless, you should pay heed to the limitations, restrictions and exclusions before accepting the card.
About the Author
Richard Gilliland Provides Expert opinions and reviews to help you Compare and Apply for a Credit Card - Compare Credit Card Offers with Credit-Wisdom.com - Unraveling the best in Personal and Business Credit Cards.
Thursday, May 3, 2007
Merchant Account Services
A Brief Primer on Merchant Account Discount Rates
By Colin Albert
You just obtained a merchant account at a quoted discount rate of 1.79% for your store. But, lo and behold, when your account statement for your first month's processing arrived, you discovered to your dismay that many of your customers' transactions were processed at a much higher rate than the one quoted to you. Not a pleasant surprise.
You are not alone. In fact, we bet the majority of merchants don't really understand how merchant account discount rates are applied and calculated.
So let's see if we can shed at least a little light on what's happening here.
A Discount Rate is a charge that is levied on each transaction you process through your merchant account and is calculated as a percentage of that transaction's dollar amount.
The Discount Rate that most applicants are quoted when searching for a credit card processing solution is what is known as the Qualified Rate. Your processing company determines the Qualified Rate by initially looking at the InterBank Exchange rate that VISA and MasterCard levy - this InterBank Exchange fee charged by the credit card companies is the same for all banks and processing companies. The banks and processors then add on a further percentage to that fee (this is part of the profit they make) to determine the Qualified Rate they charge to their merchants.
In the case of a retailer, the current Qualified Rate is in the 1.70% to 1.85% range - and for phone and mail orders, as well as internet processing, the range is commonly 2.25% to 2.49%. The latter range is higher because of the fact that in those types of transactions, the merchant does not have the customer's physical credit card present - so the risk of fraud is greater than it is for retail 'card present' sales.
So far so good - most merchants understand things to this point. But there are certain risk factors that can cause your transaction to be levied with an additional percentage charge. These surcharges are extracted on 'Mid Qualified' and 'Non Qualified' transactions. The surcharge for Mid Qualified transactions is usually in the .75% to 1.25% range and for Non Qualified is generally 1.50% to 2.00%. Remember, these are charges on top of the standard Qualified Rate.
So what are the most common circumstances when either Mid or Non Qualified surcharges may apply?
* Mid Qualified: (a) for phone and mail order as well as internet transactions, where there is no AVS (address verification) match; and (b) where a retail merchant manually keys-in the transaction because the credit card is present but cannot be swiped, or keys in an order where the card is not present (e.g. a phone order).
* Non Qualified: (a) for phone and mail order and internet sales, where the transaction is keyed-in but is not part of a daily batch out of that day's transactions. (Note: where a person keys in his information on a website, the large majority of gateways do the 'batching' automatically. Therefore for internet processing, this is not generally a concern); (b) where a retail merchant doesn't batch out daily; or (c) where the transaction is made utilizing a corporate, a non-U.S., a business or a government credit card.
So, if many of your customers reside outside of the United States, or use corporate, government or business cards, you can do yourself a big favor by negotiating as low as possible Non Qualified Discount Rate.
Unfortunately, there are another fifty or so other factors that can affect the discount rate you'll be charged (no-one said it would be easy to understand all this!). These include:
* high risk merchants can expect higher discount rates across the board
* Visa Signature Reward Cards and MasterCard World Cards have surcharges applied
* if the customer's order is not shipped within 24 hours, a surcharge may be levied
The bottom line? Prior to signing on for your merchant account make sure that you carefully read the provider's complete array of criteria for evaluating what discount rate will be applied to a particular sale. And speak with your agent if you have any questions.
Colin Albert is the founder of The Merchant Account Explorer, a website devoted to providing businesses with advice on credit card merchant accounts. The site also offers recommendations regarding leading Internet and retail merchant account providers.
Article Source: http://EzineArticles.com/?expert=Colin_Albert
http://EzineArticles.com/?A-Brief-Primer-on-Merchant-Account-Discount-Rates&id=290230
By Colin Albert
You just obtained a merchant account at a quoted discount rate of 1.79% for your store. But, lo and behold, when your account statement for your first month's processing arrived, you discovered to your dismay that many of your customers' transactions were processed at a much higher rate than the one quoted to you. Not a pleasant surprise.
You are not alone. In fact, we bet the majority of merchants don't really understand how merchant account discount rates are applied and calculated.
So let's see if we can shed at least a little light on what's happening here.
A Discount Rate is a charge that is levied on each transaction you process through your merchant account and is calculated as a percentage of that transaction's dollar amount.
The Discount Rate that most applicants are quoted when searching for a credit card processing solution is what is known as the Qualified Rate. Your processing company determines the Qualified Rate by initially looking at the InterBank Exchange rate that VISA and MasterCard levy - this InterBank Exchange fee charged by the credit card companies is the same for all banks and processing companies. The banks and processors then add on a further percentage to that fee (this is part of the profit they make) to determine the Qualified Rate they charge to their merchants.
In the case of a retailer, the current Qualified Rate is in the 1.70% to 1.85% range - and for phone and mail orders, as well as internet processing, the range is commonly 2.25% to 2.49%. The latter range is higher because of the fact that in those types of transactions, the merchant does not have the customer's physical credit card present - so the risk of fraud is greater than it is for retail 'card present' sales.
So far so good - most merchants understand things to this point. But there are certain risk factors that can cause your transaction to be levied with an additional percentage charge. These surcharges are extracted on 'Mid Qualified' and 'Non Qualified' transactions. The surcharge for Mid Qualified transactions is usually in the .75% to 1.25% range and for Non Qualified is generally 1.50% to 2.00%. Remember, these are charges on top of the standard Qualified Rate.
So what are the most common circumstances when either Mid or Non Qualified surcharges may apply?
* Mid Qualified: (a) for phone and mail order as well as internet transactions, where there is no AVS (address verification) match; and (b) where a retail merchant manually keys-in the transaction because the credit card is present but cannot be swiped, or keys in an order where the card is not present (e.g. a phone order).
* Non Qualified: (a) for phone and mail order and internet sales, where the transaction is keyed-in but is not part of a daily batch out of that day's transactions. (Note: where a person keys in his information on a website, the large majority of gateways do the 'batching' automatically. Therefore for internet processing, this is not generally a concern); (b) where a retail merchant doesn't batch out daily; or (c) where the transaction is made utilizing a corporate, a non-U.S., a business or a government credit card.
So, if many of your customers reside outside of the United States, or use corporate, government or business cards, you can do yourself a big favor by negotiating as low as possible Non Qualified Discount Rate.
Unfortunately, there are another fifty or so other factors that can affect the discount rate you'll be charged (no-one said it would be easy to understand all this!). These include:
* high risk merchants can expect higher discount rates across the board
* Visa Signature Reward Cards and MasterCard World Cards have surcharges applied
* if the customer's order is not shipped within 24 hours, a surcharge may be levied
The bottom line? Prior to signing on for your merchant account make sure that you carefully read the provider's complete array of criteria for evaluating what discount rate will be applied to a particular sale. And speak with your agent if you have any questions.
Colin Albert is the founder of The Merchant Account Explorer, a website devoted to providing businesses with advice on credit card merchant accounts. The site also offers recommendations regarding leading Internet and retail merchant account providers.
Article Source: http://EzineArticles.com/?expert=Colin_Albert
http://EzineArticles.com/?A-Brief-Primer-on-Merchant-Account-Discount-Rates&id=290230
Wednesday, May 2, 2007
Merchant Account Services
Anatomy of Merchant Service Fees
By Natalie Aranda
A credit card Merchant Service is almost a requirement of doing business in today’s marketplace. It does not really matter what your personal feelings are toward the use of credit cards or credit in general. The consumers like credit cards and often will not do business with an establishment that does not accept them. In a highly competitive business environment you can not afford to lose this business. The Merchant Service is the institutions that enable you to accept and process credit card transactions.
There are a number of Merchant Service fees that must be paid by the business owner. These fees vary greatly between Merchant Service providers and they must be carefully understood and compared when selecting the one for your business. The fees include a straight transaction fee that is charged each time the credit card is used. This fee is usually small, but can add up with frequent small transactions. The Authorization fee is the most troublesome and unfair one in the view of most business owners. It charges a fee every time a transaction is processed regardless if the charge is accepted or rejected.
Most Merchant Services have a minimum monthly fee as well. If your business volume does not exceed this figure, you will be charged the difference. The Merchant Service provider also charges for their monthly statement. They will often impose a hefty termination fee should you close your account before the agreed time span has elapsed. The business owner is responsible for any “free” equipment give to him for processing credit cards and will have to cover the cost of any loss or damage to them.
The largest and most important fee is the discount rate. This is basically the cut taken by the Merchant Service provider of every transaction. Since the discount rate is a percentage of the total sale, this fee will rise and fall along with your sales figures. The discount fee is the most important starting point for evaluating a Merchant Service provider. The good news is that this field has become highly competitive also. The financial institutions vie for your business and a reduced rate is their best bargaining chip. Even Offshore Merchant Accounts are beginning to show more competitive fervor in their discount rates as the marketplace becomes more and more global in nature. It is vital to understand the complete fee structure when considering your Merchant Service provider. You have to sacrifice some of your profit in order to benefit from the ability to accept credit cards, but how much of a sacrifice you must make can be controlled by careful shopping and knowledge of fees.
Natalie Aranda writes about technology, ecommerce and finance. A credit card Merchant Service is almost a requirement of doing business in today’s marketplace. It does not really matter what your personal feelings are toward the use of credit cards or credit in general. The consumers like credit cards and often will not do business with an establishment that does not accept them. In a highly competitive business environment you can not afford to lose this business. The Merchant Service is the institutions that enable you to accept and process credit card transactions.
Article Source: http://EzineArticles.com/?expert=Natalie_Aranda
http://EzineArticles.com/?Anatomy-of-Merchant-Service-Fees&id=490644
By Natalie Aranda
A credit card Merchant Service is almost a requirement of doing business in today’s marketplace. It does not really matter what your personal feelings are toward the use of credit cards or credit in general. The consumers like credit cards and often will not do business with an establishment that does not accept them. In a highly competitive business environment you can not afford to lose this business. The Merchant Service is the institutions that enable you to accept and process credit card transactions.
There are a number of Merchant Service fees that must be paid by the business owner. These fees vary greatly between Merchant Service providers and they must be carefully understood and compared when selecting the one for your business. The fees include a straight transaction fee that is charged each time the credit card is used. This fee is usually small, but can add up with frequent small transactions. The Authorization fee is the most troublesome and unfair one in the view of most business owners. It charges a fee every time a transaction is processed regardless if the charge is accepted or rejected.
Most Merchant Services have a minimum monthly fee as well. If your business volume does not exceed this figure, you will be charged the difference. The Merchant Service provider also charges for their monthly statement. They will often impose a hefty termination fee should you close your account before the agreed time span has elapsed. The business owner is responsible for any “free” equipment give to him for processing credit cards and will have to cover the cost of any loss or damage to them.
The largest and most important fee is the discount rate. This is basically the cut taken by the Merchant Service provider of every transaction. Since the discount rate is a percentage of the total sale, this fee will rise and fall along with your sales figures. The discount fee is the most important starting point for evaluating a Merchant Service provider. The good news is that this field has become highly competitive also. The financial institutions vie for your business and a reduced rate is their best bargaining chip. Even Offshore Merchant Accounts are beginning to show more competitive fervor in their discount rates as the marketplace becomes more and more global in nature. It is vital to understand the complete fee structure when considering your Merchant Service provider. You have to sacrifice some of your profit in order to benefit from the ability to accept credit cards, but how much of a sacrifice you must make can be controlled by careful shopping and knowledge of fees.
Natalie Aranda writes about technology, ecommerce and finance. A credit card Merchant Service is almost a requirement of doing business in today’s marketplace. It does not really matter what your personal feelings are toward the use of credit cards or credit in general. The consumers like credit cards and often will not do business with an establishment that does not accept them. In a highly competitive business environment you can not afford to lose this business. The Merchant Service is the institutions that enable you to accept and process credit card transactions.
Article Source: http://EzineArticles.com/?expert=Natalie_Aranda
http://EzineArticles.com/?Anatomy-of-Merchant-Service-Fees&id=490644
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