Accept Credit Card Payment Online

Everyone is selling on the web these days. When we ponder this concept, most of us immediately think of EBay. After all, this is pretty much where it all began. I have to give props to the fellow who started the online auction phenomenon. As of now, he's definitely sitting pretty. Since then, so many nuances have stormed cyberspace. Now you can pick and choose from a variety of online forums and auction websites that sell products. You too can get in the game and sell a few items of your own. The cool part is you don't even have to bother with checks and money orders. Why not just accept credit card payment online? Anyone can do it now. Welcome to the age of big business.

I was speaking with a custom knife vendor on the phone the other day. I wanted to purchase one of his products, but wanted more information before I actually threw down the cash. I decided to call him up and get a feel for who he was a bit. This is so much more personal than emailing. Well, needless to say, we chatted about knives for some time. Once I had decided on a piece, he asked me if I wanted to pay him with a credit card or via PayPal. Now, for those of you who aren't in the loop with PayPal, it's an EBay company that allows you to send and receive electronic payments. You can accept credit card payment online with this service. If someone wishes to buy from you, they can add a credit card to their PayPal account and quickly send you the funds. It's ideal if you buy and sell online a lot. Anyway, I was stoked that I could simply PayPal the knife vendor. This makes life easier for me. I typically don't want to use my credit card at all, but I do keep some cash in my PayPal account. Anyone can open one of these on the web.

Imagine you're selling some big ticket items on EBay. The person who wins your items will most likely hope you accept credit card payment online, or have some sort of Paypal account set up. It just makes life a heck of a lot easier now days. No one wants to bother with money orders and checks are becoming obsolete. Thank God! So check into PayPal and see how you can begin to accept credit card payment online as easy as pie. This is ideal for anyone who sells on the web.

Source: Associated Content

Common Debit Card Errors

We like convenience. But with convenience can come problems. Case in point, the use of a debit card.

There are three kinds of debit cards. One type is the ATM debit card which is used in ATM machines to deposit or withdraw money. Another type of debit card is a check card. The check card debit card is a wonderful tool. You don't have to write those pesky checks, holding people up in check out lines. You just have to be diligent about keeping your receipts and knowing just how much you have in your account. Nobody wants to pay any over the limit charges. Then there is the combined ATM debit and check card which you can use to transfer and deposit funds from your account via an ATM machine and also use it as a check card. Sounds easy enough to handle; right?

It would be easy, if you didn't factor in a few problems that could turn your nice easy going debit account into a nightmare. Problems, you wonder in fear? Don't worry; if you are aware of some of the pitfalls and watch your statements closely you can stop the errors before they become big problems to your account and to your credit.

The first mistake that could threaten your debit card account is basic human/computer error. First this reason, keep all your monthly transaction receipts. This means all the receipts from any stores you use your debit card and any time you add money to your account.

The second common mistake is when you sign up for a service and then discontinue it. Sometimes companies will offer you an incentive to try a service for a certain period of time for free, providing you sign up using a credit or debit card. Sounds good. It can be good. But what the company hopes for is that you will like the service and continue or at least are to lazy to cancel the service. Be sure to write a note and the date you must cancel before billing starts on your debit or credit card. If you don't want the service cancel before that date. Then after canceling make sure the fee doesn't show up on your account. If it does, call the company immediately.

Theft. We all know this is always a chance we take when it involves money or something that acts like money. In the case of a debit card you do have some protection, depending on how quickly you notice that your debit card is missing and how soon you report it. If you report it missing before any transactions is made from it, you are not responsible for any purchases or cash advances made toward the card. If you report it missing within 2 days of it being stolen and being used, you are responsible for $50 of the amount spent (less if the amount spent on it is lower than $50). If it takes you more than 2 days to report it missing, you are responsible for $500 of the amount spent (less if the amount spent is lower than $500). If you wait for 60 days to report it missing, you are completely responsible.

But also be warned, under Government guidelines set for financial institutions they have up 20 days to provide provisional credit to your account due to losses due to theft or unauthorized use. What does this mean? They have up to 20 days to issue you a new card and replace the money back onto your card, even if you report the card missing within a few hours of its disappearance.

What about errors? How long does Financial Institutions have to investigate errors? They have 10 days. But they can have up to 45 days. Yet, if it takes them that long they must add the money back to your account while they do their investigating.

What else can you do to protect your debit card accounts?

Know where all your cards are at all times

Never give out your account numbers via the phone or the internet unless it is to a trusted company.

When using your debit card via the internet use a secure browser

Don't keep PIN numbers and the cards at the same place

Never sign a blank transaction slip

Tear up carbon copies of receipts and keep saved receipts in safe place

Review monthly statements for errors

Inform the issuer of your debit card the minute you realize it is lost or stolen

Keep a list of all debit cards account numbers, expiration dates and the telephone number of the issuer in a safe place in case of theft or if it is lost. This makes things easier if you ever have to report your card missing.

Should you stop using your debit card? No, not necessarily. Just keep one thing in mind, that plastic card represents money. Keep it safe.

Source: Associated Content

How to Use a Dedicated Business Credit Card

If you use one credit card for all of your expenses, you might find it difficult to separate business from personal expenses later on. Using a dedicated business credit card will not only help you to stay organized, but it can also make a large difference once tax season roles around. A dedicated business card is a credit card that is used only - no exceptions - for business expenses. Read the following tips to learn how to use a dedicated business credit card.

Dedicated Business Credit Card: Choose Your Card with the Highest Interest Rate
If you have several credit cards, it is often best to use the one with the highest interest rate as your dedicated business card. Although you cannot deduct interest on personal credit cards, interest earned on business expenses is almost always deductable. Annual fees are also deductible, so that should factor into your decision.

Dedicated Business Credit Card: Charge Slips
Make sure that your dedicated business credit card allows you to receive copies of all the charge slips in addition to your monthly statement. If it doesn't, you will have to be careful to save them at the point of purchase. You will need these charge slips either for your business expense account or for your taxes.

Dedicated Business Credit Card: Frequent Flier Miles
If your business requires that you travel, you might want to get a dedicated business card that allows you to enroll in a frequent flier program. You'll earn free miles with your business expenses, which is always a plus. If you don't travel, consider a card with other benefits, such as reward points or cash back. You might as well be earning some kind of return when using a dedicated business card.

Dedicated Business Credit Card: Keep it Separate
Store your dedicated business credit card in a separate place from your personal credit cards. If you accidentally use it and then forget to record the purpose for the personal purchase, you could wind up in trouble with your boss or - worse - the IRS. Make sure that your spouse and any other family members also understand that it is a dedicated business card.

Dedicated Business Credit Card: End-Of-Year Report
Many credit card companies provide card holders with an end-of-year report that categorizes expenses related to different purposes, such as entertainment, travel and office supplies. Try to find a credit card that supplies this kind of report because it will be much easier to handle your taxes when you have it.

Dedicated Business Credit Card: Employer vs. Taxes
When making business purchases on your credit card, it might be a good idea to note who will be reimbursing you for the expense. If is something like mileage, which will go on your employer's expense report, make a notation on the charge slip or in your register. If, along the same lines, you will need to deduct it from your taxes, you should write that down as well. It will help you to keep the two separate and to fill out expense reports and itemized tax statements.

Source: Associated Content

A Look at the PayPal Debit Card

Looking for a debit card to manage your finances, but dislike paying "point of sale" fees for every purchase? The PayPal debit card is financially similar to a debit card, deducting purchases directly from your PayPal account balance, but can also be used as a credit card anywhere MasterCard is accepted. If there is not sufficient funds in your account, the sale will be denied, assisting you in the process of refraining from spending money you don't have.

Requirements to Get the Card
There are several prerequisites to requesting a PayPal debit card. In order to request a PayPal debit card you must be a PayPal user for at least sixty days and must have a premier or business account. There is no charge to upgrade your account, but, unlike a personal account which can accept non-credit card payments free of charge, you will be charged the standard PayPal fee of $0.30 + 2.9% of the transaction amount to accept funds (both credit card and non-credit card) from other users. In addition, you must register a credit card with your account. The statement for this card must be sent to a physical street address, not a P.O. box. Finally, your account must be verified by linking it to your bank account.

The Debit Card
The PayPal debit card works just like a normal debit card issued by your bank. Funds can be withdrawn from your PayPal account via any ATM with the Cirrus logo at a cost of $1.00 per withdrawal, plus additional bank ATM fees if applicable. You can also make debit purchases with a PIN. You may request up to two debit cards per PayPal account. The PayPal debit card carries no annual fee and there is no fee to request an addition card.

A MasterCard in Disguise
The PayPal debit card doubles as a MasterCard Premier BusinessCard. The card can be used anywhere MasterCard is accepted and works in the same fashion as a standard credit card with the exception that the funds are deducted directly from your PayPal account. It is possible to overdraw your account, however, if the merchant does not request the full amount of your transaction to be immediately debited from your PayPal account. For example, when you purchase gas, a $1.00 "hold fee" will be billed to your account when you swipe your card before you pump. A few days later, this charge will be removed and the full charge will be posted. It's critical to track outstanding purchases in order to avoid overdrawing your account.

PayPal Preferred Program – Get 1.0% cashback
Another great feature of the PayPal debit card is the ability to receive cashback on your purchases. Any purchase in which the card is used as a credit card is eligible for cashback. While an eBay account is not required in order to sign up for PayPal and the debit card program, if you are an active seller on eBay with at least one listing every three weeks, you are eligible to receive 1.0% cashback on purchases processed from your debit card as credit card transactions. If your eBay sales drops below the minimum requirement, PayPal indicates they will notify you that your preferred status has been suspended until you list another auction. (Note that this does not suspend your debit card, but simply the ability to receive cashback.) Alternatively, you can achieve PayPal preferred status by incorporating PayPal into your e-commerce website. You must also list PayPal as the only accepted online payment option on either your eBay auctions or your website. Once enrolled in the "PayPal Preferred" program, you will begin receiving 1.0% cashback on all purchases involving your debit card in which you select "Credit" rather than "Debit" at the checkout process.

Security Measures
In order to provide security to your account, your debit card has daily withdraw limits of $3,000.00 for purchases and $400.00 for ATM cash withdrawals. If you decide to request an additional debit card, this limit applies to your account and is not a limit per card. If you use PayPal extensively to accept payments online, the PayPal debit card is a convenient means to spend the funds directly from your account. Even if you don't receive many PayPal payments, you can still transfer funds from your bank account in order to receive 1.0% cashback on all of your purchases. While other credit cards offer cashback rates of greater than 1%, it is important to note that the PayPal debit card does not require a credit history since it is a debit card in reality.

Source: Associated Content

How to Avoid Credit Card Debt

In modern day society we are accustomed to having what we want when we want it, and trying to keep up with the fast paces of life and consumer society of play havoc on our bank accounts and pocket books. The perceived need to have the latest computer software, the latest looks in leather jackets, and the hippest car frequently drives us to a point of overextension and financial insanity.

Instead, we should take a step back and look at what we have instead of what we think we need. For instance, two years ago you bought yourself a new laptop computer. Your laptop has a CD/DVD burner combo drive, is light weight, and upgradeable, but you suddenly feel that your system does not have enough “bells and whistles” because you do not have an internal card for wireless internet access or your graphics are the standard version instead of extreme graphics version two. Hence, you feel the burning need to dump your current laptop and purchase a new one. But, do you really need that new laptop? No, the upgrades for your current one would cost you a fraction of the price, and drivers for your graphics card are easily downloadable (and usually free or minimally priced). Yet, you still believe that you need a new laptop because yours is no longer displayed on store shelves, and you subconsciously believe that upgrading your laptop (over buying a new one) is settling for second best. But, you are not settling. Instead, you are being prudent and consumer conscious — prudent because your laptop is still running smoothly, is internet adaptable, and is compliant with commonly used software and consumer conscious because you know that holding out for another two years will prove wise for your next major laptop purchase. After all, laptops generally have a lifespan of four years, and waiting two years will enable you to buy a laptop will a DVD/CD burner, extreme graphics, and more bells and whistles than are currently on the market.

This latter fact is common knowledge on the market, and any one who has ever purchased computer equipment on a whim can tell you how they spent more money than needed on the spur of the moment buy. This scenario, of desperately needing a new laptop because yours is becoming “outdated,” is a classic example how many individuals rack up credit card debt and make purchases that they do not need. The prudent consumer, who purchased upgrades over a new system, would have saved approximately twelve hundred to one thousand dollars on their computer system—thus, enabling them to apply that money for other needs/desires.

These needs and desires could be real—like new tires for the family car—or they could be imposed—like the longing to go away for a weekend at a nearby beach resort. Again, the new tires for the care are a safety factor, and the beach front vacation is a luxury.

Credit card spending on either purchase should be avoided, but if credit use is needed opting for new tires is the safer investment. And yes, credit spending for new tires (or any item) is an investment because you are paying back the money loaned with interest. Average credit card holders spend ten to twenty years paying off credit card debt, on basic monthly payments, that they procured in their twenties. This long-term payment system is an investment because the items you bought are slowly being paid for—often long after you have discarded them—and their end price is considerably higher that what was initially paid.

Thus, your investments onto credit cards should be well thought because they will not be paid off for several years. Your purchases should be well thought and considered with a heavy heart. Placing purchases on credit cards should come from heavy heart because you really need to ponder if you absolutely need that item. More importantly, paying off a vacation or a new article of clothing ten years down the road seems a little ludicrous. By the time you pay off these purchases, many of them will be forgotten and the items will have dissipated from your possession.

Thus, weigh the need and desire for purchases heavily, calculating the interest that you will pay, and the amount of enjoyment or productivity that will derive from them. Tires for your vehicle—those are a must have purchase, and putting them on your credit card is not a major financial infraction. Well, that is unless you are putting the tires on your credit card so that you can use your cash for an upgraded car stereo system. This choice would also fall into the disillusionment category because using credit for tires so that you can make a luxury purchase is the equivalent of putting the luxury item on the credit card. Robbing Peter to pay Paul never works . . . and do not fool yourself. It will not work for you either. Accordingly, before making a credit purchase weigh it wisely—do you need it or desire it!

Source: Associated Content

How to Get a Credit Card with Bad Credit

Most people either have bad credit or no credit at all. Also most people are in a lot of debt and couldn't get a loan or a credit card from anyone unless they have a co-signer. If you're like me you probably get lots of credit card offers in the mail that want you to either call and do an application over the phone or fill out the application and send it back. You know what I do with those applications I get? I throw them away because what is the point in calling or sending the application in when your going to get rejected anyway, right?

Well now there is a way for anyone, and I do mean anyone to get a credit card with bad credit or no credit at all. And here's the best part. Obviously I just told you, you can get a credit card with bad credit or no credit at all and not only that but this company doesn't ask for a security deposit nor do they require you to have employment and they do not check your credit.. I know you're probably thinking that it sounds too good to be true, right? I admit it does sound too good to be true and most things that sound too good to be true usually are. Not this time!

I first heard about this credit card company when my husband and I were up late watching television. When I heard them say "Everyone's Approved" I thought "no way." So I wrote the website address down and said I would visit it in the morning. I logged on the next day and I read through everything. I was so excited because it was amazingly true. Not only is everyone approved but they prove their legitimacy by being a member of the Better Business Bureau! They can't get more legitimate than that!

I noticed on the website that they had a phone number so I had my husband call. It turns out that the only thing they require is a $4.95 fee for shipping charges. And with them being a member of the Better Business Bureau anyone can feel safe paying the $4.95 shipping charge. They also have a VeriSign symbol on their site, which makes them a very secure site, so that is another reason to feel safe.

Yes I know it does sound too good to be true but this time it is not too good to be true. It is very true that anyone can get a credit card because this company is about giving second chances to people with bad credit so they can rebuild their credit. Depending on how bad your credit is you can get anywhere from $70 all the way up to $7,500. If you have really bad credit, like my husband and I do, you will start out with the lowest amount. But if you pay your bill on time and once you pay off the amount they give you, they will give you more and more as you pay it off. I thought this was so awesome I just had to get the word out about it.

Source: Associated Content

How to Dispute a Credit Card Charge

The worst thing that you can do if you find a strange charge on your credit card is to allow the matter to go uninvestigated. Unless you have so much money that extra charges are of no consequence, you should dispute any credit card charges that you don’t recognize immediately.

First thing’s first: don’t panic. There are several possible explanations for an unfamiliar credit card charge, so examine all of the possibilities before making an even bigger mess. Look at the credit card charge, the company under which the charge is listed and the amount. If you have them, pull out all of the credit card receipts that you have in your possession and go through them one by one, checking them off your statement as you go.

If this doesn’t shed any light onto the matter, it is time to dispute the credit card charge.

If there is a company name, phone number or website listed for the unfamiliar charge, contact them first to inquire about the charge. Let them know that you don’t recognize it and that you don’t believe you authorized it. In some cases, companies bill your credit card under unfamiliar or strangely abbreviated names, and simply calling the company will clear up the misunderstanding.

If, however, you remain confident that you did not authorize the credit card charge, ask the company to issue a refund. Sometimes this will work, and sometimes it won’t. If not, let them know that you will be in touch and contact your credit card company to dispute the charge.

Try not to get angry with the credit card company representative with whom you speak. Instead, explain the situation in as much detail as possible, and let him or her know that you did contact the merchant (if that was possible) and that the merchant was unwilling or unable to assist you. Then ask about your options.

Different credit card companies have different ways of dealing with these matters. Some will take your complaint over the phone and launch an immediate investigation while others will require you to fill out a form either online or as a hard copy. Either way, it is best to provide the credit card company with a written complaint and deliver it by certified mail to the appropriate mailing address.

Within thirty days, the credit card company will get back to you with a response to your complaint. They may require you to pay up to a certain amount for the fraudulent charge or they may not hold you responsible at all. They may also request more detailed information, such as any receipts you have and a description of the conversation you had with the merchant.

If the dispute for your credit card charge goes unresolved, you should continue to seek further information about the transaction. Providing as much information as possible to the credit card company will drastically increase your chances of being exonerated from liability.

Source: Associated Content

Credit Card Fraud in Criminal Law

Consumer fraud – specifically credit card fraud – affects approximately twenty-five million Americans each year according to recent statistics. It is one of the easiest types of fraud for experienced criminals to commit, and unfortunately, many citizens do not realize they have been victims until years later.

Credit card fraud is the act of using lost, stolen or inactive credit cards for financial gain. It can also involve identity theft by securing a credit card in someone else’s name and using it yourself, which is a felony and punishable by up to twenty years in prison. Credit card fraud happens in businesses, at ATM’s, over the phone and on the Internet, though the most common occurrence over the last three years has been Internet credit card fraud.

The Federal Trade Commission alone handles more than 500,000 complaints of credit card fraud each year. They, along with other government and private organizations, work toward educating the public about protecting their identities as well as toward capturing criminals.

One of the major problems is that the average American has five different credit card accounts. We are notorious for pulling random credit cards from our wallets and using them to make purchases without matching receipts to specific numbers or recording those purchases for future reference. If credit card holders don’t pay attention to their bills, they might not catch instances of credit card fraud.

Further, the Internet has made it much easier for criminals to discover and use credit card information. Since Internet websites cannot request photo identification to match consumers with credit cards, it is possible to rack up numerous purchases on someone else’s credit card. Most people – myself included – have received fraudulent e-mails requesting password and account information, supposedly from the bank where they hold their credit cards. Answering such an e-mail and divulging that information could result in credit card fraud.

Although organizations like the Federal Trade Commission do what they can to protect consumers from credit card fraud, it is ultimately up to consumers themselves to do whatever they can to protect their credit. This might include being careful when making Internet purchases, keeping track of all credit cards at all times and keeping an eye on one’s credit report.

Those who are prosecuted for credit card fraud face up to twenty years in prison and fines equal to that which they stole. Credit card fraud is a felony which can be tried in either a state or a federal court; typically, credit card fraud that occurs over multiple state lines will be prosecuted by federal law enforcement rather than in state courts.

Further, the victims of credit card fraud can civilly sue the criminal who used their name for credit card fraud purposes.

Source: Associated Content