A Review of Credit Card Services

Merchant services are becoming more and more important each year on the internet. Companies need someone to not only process their credit card transactions, but, also offer them a merchant account with low rates and fees. Many companies are also looking for a line of credit, or a business or personal credit card. These credit cards are typically low rate cards, with high limits, and rewards programs.

Credit services can offer the finest in credit processing and merchant accounts. It has teamed up with three of the top merchant services providers on the Internet to offer you tons of options. Want to get an online merchant account? Or maybe a retail storefront makes more sense? Merchant account services has a solution that fits your needs. Accept VISA, MasterCard, American Express, Discover, and even eChecks in an instant with zero startup costs. Many of the programs offered these days include: no application fees, a free secure internet gateway, a free virtual terminal, and, free shopping cart software. What could be better?

Let us compare some of the many merchant accounts. Are you looking for the lowest transaction fees or rates possible? Maybe a free shopping cart solution is your main interest? Service compares and contrasts the top merchant account providers – so you can see which processor offers the features and benefits that fit your needs. While some might be looking for a lower batch fee, or transaction price, other companies might be hoping for a lower royalty percentage. Comparing rates and added bonuses is always important in the credit world.

Now let’s talk about premier credit cards. So you’re looking for a high end business credit card? How about a personal card, with travel or cash rewards? You’ve come to the right place. Merchant account services has partnered with some of the nation’s top credit providers. We can offer you the finest in business or personal credit. Whether it’s rewards, a low interest rate, or no annual fee that you’re after, credit card services delivers.

So, let’s rehash what merchant services can do. First, it can learn more about your business model and the credit card services necessary for your company’s success. Do you want to accept credit payments? Try out merchant account services or merchant processing. Do you need financing at a low rate? Why not look at a number of business and personal credit options, all available to the public. Do you already know you want a merchant account? Merchant services can show you which one is right for you, and it’ll help you compare features. So, are you ready to get out there and start accepting credit payments online? Be sure to check out everything credit related, and make the best decisions with regards to you business model.

Credit Card Services: Frequently Asked Questions

If your business needs new payment solutions, such as the ability to accept online payments, chances are you could benefit by speaking with a credit card services provider-also known as a merchant service. When considering new payment options, most business owners ask a series of questions to educate themselves on a possible move. To assist in this process, we offer answers to five commonly asked questions of merchant services by their potential customers.

1. What types of services does a merchant service offer?

An account provider that specializes in a broad range of payment needs should offer at least the following services:

• online credit card processing,

• credit card machines,

• check processing software,

• credit card processing software,

• debit card processing,

• card terminals, and

• Internet payment gateways.

2. What types of fees does an account provider charge?

Account providers make a portion of their money by charging fees that are generally small and affordable. Fees vary by provider, but some common ones include:

• authorization, which are charged each time a transaction is authorized by the bank that issued the card that initiated it;

• monthly minimum, which amount to the difference between your actual monthly fees and your minimum monthly fees if the former falls beneath the latter;

• batch, which occur after you submit your daily transactions for payment; early termination, which are typically based on fees the provider would miss out on if you canceled your account early; and

• annual, which go toward the annual maintenance on your account, particularly IT maintenance.

3. What is a chargeback fee?

A chargeback fee occurs when the bank that processes your payments is left responsible for refunding a charge to a business or consumer, the amount of which it already paid to your business. In most cases, a merchant is allowed to maintain a certain percentage of their total dollar volume in chargebacks (usually around 1%). When the percentage is exceeded, however, a heavy fee often follows.

4. How do I know if my business is a good candidate for a merchant credit account?

If your business offers goods or services that people pay for with credit on a regular basis, it makes sense that it would benefit from having a merchant credit account. Exactly what type of account it should have, however, is best decided by letting an account provider analyze your sales situation.

5. If most of my customers pay by credit, should I offer other options?

While some businesses limit their payment options to credit and cash, it’s best to keep your options as wide as possible, accepting debit and check payments as well, especially if you sell products/services that people often pay for with these methods. In each case, the money you spend to support another account will be minor compared to the return in sales revenue.

Why Does Your Business Need Credit Card Services?

A reliable and versatile credit card services can help your business to gain more income by improvement in the sales. One of the best benefits is the acceptance of payment from all sources anywhere, anytime. With the help of first rate credit card services, your business can gain the following benefits. They are:

Acceptance of payments from all sources:

With the help of credit card services, you can receive or accept payments from all major sources like debit cards, checks, traditional checks and all other major credit cards (international credit cards like American express, master card etc).

Acceptance of payments at anytime, anywhere:

As your business increases, you should also be able to accept payment anywhere and anytime. With the help of good services, it is possible to accept payment from any place (both national and international). For instance, if you want to receive international currency or currencies as your business payment, then it is possible to receive funds through various sources like wire transfer, PayPal and even more. Majority of the transactions are done online and also processed online. From all these options, your card can receive payments.

Fraud and safety protection:

It is important to enable high security because transactions are processed through online and it is possible for fraudulent activities. To enable the high security in your card, you should contact your service provider and request for the same.

Expense for the card per month

Reputed companies will offer you with all benefits like low cost for maintenance; cash back offer and low gateway fee etc. All these offers are issued by the service provider only if you have good credit history and there should not be any pending debts or bad debts.

Customer service

Make sure that you are in touch with your customer support at regular intervals. Majority of the reputed service providers have 24/7 customer support and you can contact them either by phone or mail or instant messengers etc.

5 Time Saving Tactics for Merchant Accounts and Credit Card Services

Most bankers have a pretty hectic schedule during the day. Not only are they responsible for managing their merchants, they are also responsible for regular banking projects and services. Spare time is not something that comes along often in their schedules. Below is a list of five tactics that can help decrease overlap and save time throughout the day.

1. Analyzing the Success of Your Merchant Services
Reading every analytics report you can get your hands on is a very ineffective means of gaining insight and a huge waste of time. Knowing what analytics to use for accurate and relevant information is key when you are trying to save time. Graph reports are a great time saver when it comes to digging into your portfolio. From them you can quickly identify opportunities and concerns in terms of your merchant accounts and credit card services.

2. Educate Your Merchants
The relationship you have with your merchants is very important and should be one of your top priorities. However, it can become a burden if your merchants are calling you repeatedly for simple questions and concerns. Implementing a self-service reporting tool and teaching your merchants how to use it will save you hours of customer calls in the short and long run.

3. Be Sure to Submit All Required Paperwork
There is a lot of paper work that goes into a new merchant application. Ensuring that you have all of the correct information the first time will greatly decrease your underwriting and boarding process. Setting up a system that requires your merchants to provide this, the first time, will keep your merchant accounts and credit card services running smoothly.

4. Make Merchant Statements Clear and Consistent
Merchant accounts and credit card services usually start with one thing, new merchants. Developing a system that simplifies your merchant statements will not only save you time, it will also save your merchants confusion. A spreadsheet tool is the easiest was to organize large amounts of data. When creating one it is key to think of what will be most important to your merchant.

Discount pricing is something your merchant will definitely ask about. Having a tool that calculates your total interchange costs for credit and debit transactions, including assessments and fees when you enter in your merchant’s business type and average ticket will greatly decrease your workload.

5. Set Strict Time Deadlines for your Payment Processor
If your merchant service provider is not returning your calls regularly, or if you have to go through multiple channels to reach them, it may be time to change providers. It is not an unreasonable request for a bank to have a reliable payment processor. Bankers need to start demanding more from their providers, and better results will follow when they do.

These tips will not open up your day completely, but if followed correctly they will greatly decrease the amount of time you are wasting.

6 Credit Card Services You Should Evade

Supplementary services on credit cards may sound appealing and even logical at times, but are they really worth having from financial standpoint?

Here are the six services that you should evade on your card.

Identity Theft Coverage

This service on your card is to prevent fraudulent charges after the card is stolen or used without your permission. It seems very attractive. However, this is not complimentary at all. As per the terms associated with the service, if the card is stolen, the cardholder has to pay maximum liability for fraudulent charges. This may be anything as per the charges norms concerned.

If you can use your card cautiously, you can avoid this service.

Missed Payment Insurance

This facility allows the issuer to put your credit card payments on hold for up to two years, if you lost your job or ran out of money. You will be charged for the outstanding balance on your card. However, this does not make any sense why you should take this service.

For example, are you sure if you ever be unemployed in future? Second thing, it is folly to believe you will not continue making payment for two years in future. Carrying outstanding balance never makes a good sense. Even your modest saving can help you pay off your balance. Hence, it is unwise and waste of money to have this service.

Credit Score Tracking

If you subscribe this service from your bank, you will be able to have 24/7 access to your credit score. This will surely help you stay updated with your credit score status. However, it is futile and waste of money. If you are getting monthly billing statement from the bank, you can know about your liabilities. Second thing, credit bureaus offer cost free access to know about credit scores. Apparently, you do not need to subscribe “credit score tracking” service when you can manage your needs with these cost free services.

Debt Consolidation

This service allows you reduce your monthly payment on your plastic money. However, you may end up accumulating more debts in due course of time. Thus, it would liable you pay hefty amounts plus charges to your bank. Debt consolidation may lower your monthly payment, it is unwise considering the consequence.

Credit Score Repair

Sometimes, credit card companies take advantage of cardholder’s ignorance. This service exemplifies this well. It means, your bank will help you repair your credit score.

However, do not take this service as you can repair your credit score yourself. Just continue repaying outstanding balance on time to your bank and it will fix your credit score automatically.

Balance Transfer

This facility allows you transfer existing debt of one credit card to another one. However, the balance transfer process usually takes 7 to 10 working days. What if you miss the due date by the time your balance transfer is complete?

Therefore, if you can pay your outstanding balance in full before the teaser period expires, then do not take balance transfer service.