10 Valuable Tips about Business Credit Cards

A business credit card can bring many advantages for a business. However, incorrect use can also bring risks and problems. As a business owner, what can you do to avoid facing such dilemma brought about by unwise use of business credit cards?

Consider the following tips:

1. Choose your credit card wisely. There are many business credit card offers on the market and if you’re not careful, you may end up with a high-rate and unreasonable terms. So do your research to find the card that suits you.

2. One business credit card will do. Don’t feel tempted to acquire more credit than you can handle. Just like with a personal credit, owning too many business credit cards can impact your credit negatively.

3. Use business credit cards for official business expenses only. See to it that you only use your business credit card for business expenses.

4. Check your account summary regularly. Look for unauthorized charges, and keep your bookkeeper updated with your latest charges.

5. Take advantage of your business credit card rewards. Choose a business credit card with a rewards program that will best fit your business. If you frequently travel to promote your company, a business credit card with Frequent Flyer Miles program or perhaps a Gas Reward business credit card will help you save on your traveling expenses. If you make a lot of business purchases, a Cash-back or Cash-Rebate business credit card is perfect for you.

6. Use your business credit card with discretion. They are not all the same and so you should have a list of MUST HAVE features in mind before you apply..

7. Choose a business credit card that reports to business credit tracking companies. It’s important that your business credit card issuer reports to business credit reporting agencies such as Dun & Bradstreet, Experian, Business Credit USA, and Equifax. This is the way you can build a business credit for you company.

8. Implement an employee business credit card program. Most credit issuers provide extra employee cards for free. These cards will help you control and keep track of your employee’s spending.

9. Don’t take out cash advances. Just like with your personal credit card, business credit cards also charge high rates from cash advances. Use your business credit card only to make purchases or payments.

10. Find a business credit card with ample grace period. Make sure that your business credit card gives you a sufficient grace period before charging you interest payments. This will buy you enough time to pay back your bills without incurring additional interest.

Confessions of a Credit Card Junkie

I cut four credit cards today. I kept one - the one with the lowest interest rate - just in case. In case of what, I don’t know.

As I put that card back into my wallet, it hit me - I am a credit card addict.

In a previous post I mentioned that I accepted an offer to consolidate all of my outstanding credit card debt at 5.99%. Yesterday, all of the payoffs came through on my existing cards. Today, I got a shiny new credit card in the mail - it gave me access to the $25,000 credit line that came with my consolidation loan. I proceeded to cut it up immediately (the rate on purchases is 11.99%, 4% higher than my existing Chase card).

It is such a relief to see all of that high-interest rate debt wiped out. Never mind the fact that it’s just been refinanced. I can’t wait until the day that it’s legitimate, and I’ve paid off all $17,000+ of that revolving debt in full.

Which brings me back to that one remaining credit card. I don’t know why I think I need to keep it. I have $1600 plus change in my wedding fund - I could tap into that in case of an emergency. I have proven to myself that I can’t be trusted with plastic buying power. Why keep what is clearly one of my great weaknesses available?

Here is the story I am telling myself: I am keeping the card in case something catastrophic happens to me or a loved one and I need to have immediate access to $4000. But to be completely honest, there is an underlying subtext that I don’t want to own up to (but for the sake of my reader - not a typo - I will).

The truth is that I’m afraid that I will regret of not having that credit available more than I fear the bottomless pit that is unsecured debt. I don’t believe that the $326 in my bank account will be enough to get me to the next payday. What if I find the perfect Christmas gift for my mom tomorrow and it just happens to be $150? Will I have enough money for gas and groceries next week? What if I am admitted to the hospital for some reason (I have already tapped out my health flex account this year)? Logically, I know that these are just excuses and I need to pull the trigger (or snip the scissors, as the case may be) and cut up that card, but I can’t bring myself to do it.

Credit Cards: Budgets, Rewards, Self-Discipline!

For those of you who are using credit cards for the first time, or are having difficulty in managing your expenses, budgets can be a bit tricky to devise. Your credit cards are charged one month, but typically don’t show up on your credit card statement for at least 2-5 weeks (sometimes more). This is long after you have enjoyed that meal, worn your new shoes or purchased a book! Perhaps you have even forgotten what you bought or why.

There are a couple of ways you can deal with this.

1. Instead of waiting for the bill, deduct the money from THIS month’s expenses as the expenses are incurred and place it in a ‘holding account’ where the money can gather some interest until the bill is due. This helps to keep the feeling that purchasing on a credit card actually involves REAL money. I try to do this, but sometimes I forget to separate the cash. Naturally, my cash gets spent, leaving a shortfall that has to be covered next month.

2. Use a special program like Quicken or MSMoney to track your expenses. Or use Credit Card Manager to help manage your credit card expenses.
One aspect that I forgot early on in my credit card ‘career’ was to take advantage of points. I saved up my points for quite a while and I ignored the ‘expiry’ notices each month, until themonth after expiry when I realized that my hard-earned points had been knocked down a great deal. At that point, I was pretty upset because I had used that card a great deal up until that point, but hadn’t found much worth purchasing through their credit card rewards program. I just waited. After that, I retained the credit card, but I only use it for online purchases and emergencies. So I punished the bank. In reality, my other credit card also did the same, but this time I was more careful to use the points.

Bad management

Buried in the publicity of a nasty airline strike was a vivid example of how misdirected
management’s service improvement efforts can become. To improve service, the airline ordered
all attendants to attend three hour “Commitment to Courtesy” classes without pay. “They told
us the reason we were losing money was because we were rude to passengers,” said one
attendant.

How reasonable would it be to hold a shipping dock worker responsible for the quality of the
goods in the boxes he or she is shipping Not only would that be unfair, it would be bad
management. A good manager would argue, quite rightly, that the manufacturing process should
be traced back to find the ultimate source of the defects.

So how reasonable is it for managers to hold the final deliverer responsible for the quality of the
products or services he or she is delivering The person on the front serving line is a symptom
carrier, not the source of the problem. While he or she may be contributing to low service
delivery, blaming him or her is not only unfair, it’s unproductive.

The basic problem is that people are visible, but the systems and organization culture by which
group and individual behavior is shaped are largely invisible. So when something goes wrong, it’s
easy to trace the problem back to whoever touched it last and lay the blame there.

If you put a good person into a bad system the system will win. This has been proven so often
that it has become a truism in the quality improvement field called the “85/15 Rule”. The 85/15
Rule shows that if you trace errors or service complaints back to the root cause, about 85% of
the time the fault lays in the system, processes, structure, or practices of the organization. Only
about 15% of the ricochets can be traced back to someone who didn’t care or wasn’t conscientious enough.

I’ve seethed in the seats of all too many airport gates waiting for a late aircraft, or scrambling to find an alternate way home. Having a flight attendant then give me a bag of peanuts and a big courteous smile doesn’t turn me into a satisfied customer. I often feel sorry for the attendants (and the harried gate agents) while plotting my revenge for the faceless bureaucrats and managers that can’t get the organization’s act together.

Frontline servers often provide delightful service in spite of, not because of, their organization’s support and systems. Given the many obstacles, it’s a minor miracle that service is being
provided at all by some exceptionally caring employees!

Many manifestations of the “our workforce is to blame” assumption stem from the all too
common, but badly misguided, inclination to begin error “seek and destroy missions” by asking
“who” rather than “what” went wrong. Symptom carriers of the organization’s system and
process problems are hunted down and hung by the neck. The result is a culture of fixing the
blame rather than the problem. A culture of fear, cover your backside, and finger pointing.

If senior management truly wants to find the source of their organization’s declining service
levels, the best place to start is with a long and deep look in the mirror.

Credit Cards And Their Rewards

A lot of credit card companies offer incentives to people with large debts. These include 0% balance transfers, 0% purchase rates and long term low interest rates on balance transfers. But people who clear their balances regularly do not benefit from these rewards. After all, if they pay off their balances each month, they are not paying interest anyway. So how can these people gain something from using their credit cards The answer lies in credit card reward schemes.

What Are Credit Card Reward Schemes

Credit card reward schemes are schemes that offer bonuses or incentives to people when they spend on their credit card. These schemes are usually linked to the amount spent, so this is a good option for people who put their monthly spending on their credit cards. There are a number of credit card reward schemes to choose from.

Earning Nectar Points With Your Credit Card

One of the best known reward schemes is the Nectar points scheme. This started as a loyalty card scheme, with Sainsburys, Debenhams and BP as the principal players. There are now a number of retailers who accept and issue Nectar points. There is also a branded Nectar credit card (run by American Express) which allows card holders to earn Nectar points when shopping for a range of goods with the credit card. Card holders who also have a Nectar loyalty card can earn up to 4 points for every pound spent. These points can then be used for shopping, entertainment, travel and more.

Other Credit Card Points Schemes

Many other credit card companies also offer their own proprietary points schemes. Again, these allow card holders to collect a set number of points for every pound spent. These points can then be used to claim discounts on food, wine and travel; travel insurance; clothing; high street discount vouchers; or exchanged for cash. Many credit card companies also give cash back rewards. These consist of a rebate of a certain percentage of the amount spent on a credit card per month or year. There is usually a cap on the amount of the rebate.

Reward Yourself For Travelling

Another common points scheme is the air miles scheme. This allows card holders to earn a set number of miles linked to the amount they spend on the credit card. Card holders can have separate air miles accounts or can gain more benefit by applying for one of the many credit cards that offer air miles as their reward. With air miles credit cards, credit card holders can also benefit from balance transfer rates and other incentives. Many air miles credit cards also offer additional discounts or upgrades on travel products.

Other Credit Card Reward Schemes

In addition to these credit card reward schemes, there are credit cards that offer specific incentives to consumers. These include earning money to help with the purchase of a car. Credit card holders can also consider using their credit cards to give to charity. There are a number of charity credit card schemes backed by major banks.

How to Consolidate Credit Cards

One of the prizewinning things individuals crapper do is consolidate their assign cards. Credit bill compounding offers whatever benefits but modify monthly payments is apparently the content of most grouping who consolidate. Another doable goodness is creating added set indite soured by using your bag justness to bonded the loan. Using your home’s justness is also sharp because it crapper support you intend modify welfare rates on your newborn loan. Having digit monthly commercialism also makes your bills easier to control and ready up with.

Often consolidating your bills module attain you countenance meliorate to a give tar if in the forthcoming you requirement to bonded added give for upcoming projects.

The large nonachievement prefabricated by those hunt a give to consolidate their assign game is unfortunate to do their homework. This nonachievement crapper literally outlay you thousands of dollars over the chronicle of a loan. Many grouping module verify the prototypal substance that they have. You hit to advert the companies that are in playing to attain loans verify salesman move to gaining your business. Most folks do not discern this. When we are hunting for a loan, we do not move it the aforementioned artefact we do if we are purchase a car. The think we do not is a pledgee module invoke downbound customers. So we move it as if we are disagreeable to attain the sale. This plays correct into their hands, and they do verify plus of this situation.

When we are hunting for a give we should advert that the internet has finished something that the disposition playing has never dealt with. We crapper class nationwide for lenders. Before you exclusive had a containerful of choices, so you had a significance of urgency. In today’s internet surround there is ever added pledgee around the corner. We crapper verify an move of motion the pledgee downbound for the give if his cost or welfare rates are not satisfactory.

Lenders haw seem same they don’t requirement your business, but they do not possess the money they lend. They hit borrowed the money meet same you are doing, and they cannot move their loans if they do not attain sufficiency loans to attain a profit. So, hunting at it this artefact they requirement you meet as you requirement them. solon aggregation and whatever enthusiastic course crapper be institute at…

Lenders haw seem same they don’t requirement your business, but they do not possess the money they lend. They hit borrowed the money meet same you are doing, and they cannot move their loans if they do not attain sufficiency loans to attain a profit. So, hunting at it this artefact they requirement you meet as you requirement them. solon aggregation and whatever enthusiastic course crapper be institute at…CONTINUE

Credit Cards: Boon or Bane?

Plastic money has a lot of appeal to youngsters since money is hard to come by at that age. If an indulgent parent hands out an add-on card for emergency usage it's the best gift one can get. But usually each time one is a little short of cash out come the Credit Cards. Every occasion is an emergency. Eventually the card is confiscated when dad hits the roof seeing the bills and theres no excuse to save face with.

My first Credit Card was almost presented to me on a platter. It was sometime during my second job that the personnel desk executive off handedly inquired if I would require a credit card along with the debit card. I didn't even get time to compare Credit Cards before I nonchalantly replied 'Obviously I would'. Paperwork was completed and supporting documents supplied by the company. 10 days and some impatient waiting later my glittering Silver Credit Card arrived coaxing me to spend a little more than I could afford.I wasn't unaware of the evils of a credit line. So I swore to myself I would treat my card just like I would treat some friends money in my account.

The first opportunity to be able to inaugurate the card presented itself. It was like the card wanted to be used. Mid-month treat for a group of friends was something no one with my salary could afford at that time. My next promise was to pay up as soon as I got my salary, and I did.

Opportunities kept cropping up every now and then. I never realized when the opportunities turned into needs. I kept spending like no ones business, be it for shopping to tend to my mood or taking friends and relatives out. My payment was regular so the credit line kept increasing. Pleasant bank executives would call to offer better cards or higher lines or loans without papers. Sometimes I would accept, other times I would politely decline. It felt pretty good to be offered so much when I kept hearing about people whose cards got canceled or credit lines reduced. One principle that I stuck to all through was to not accept a second credit card even if the executives sat outside my door and begged me to accept.

Amidst all the adulation, I didn't realize when my balance was pretty much out of my range. It hit me when I quit my job after four and half years to pursue my higher studies. The responsibility to pay for my immaturity and irresponsibility fell on my father. It was not difficult to understand that it was a high price to pay for being kind enough to bear my expenses while I studied.

The Credit Card is still there with me now though it is being used as it should have been earlier – for emergencies. A card is a necessity since we never know when we might run out of cash and be in dire need of money. Mainly when studying or working far away from parents or relatives who can help at time of emergencies, a credit card is the best bet. Usage of the card needs to be monitored by us responsibly.

Credit Cards are a boon if they can be used properly. The banks do their parts to help the customers. There are lots of offers available on cards. Some credit cards give a discount on purchase of gas while other cash back credit cards return a percentage of purchases made at certain stores. The cards can be custom designed too. A Silver Card, Gold Card, Party card, Petroleum card, Grocery card etc. The choice is yours since the services are out there to serve every special need. There are also reward points on purchases made using the card. Reward points allow you to choose a gift or gift voucher from the kitty made available to you according to your card usage. It can be anything from a wallet to a hair dryer or some other electrical appliance.

The credit card companies also help you monitor your accounts and usage. Paper or e-statements are offered every month. Analyzers are also available to check on the spending habits and be warned well in advance. For large purchases, often there are offers to break the amount into suitable installments to make payments easier or affordable.

End of the day, the credit card companies do their share of easing customers into proper credit card usage policies. It is not all their responsibility either since its their bread and butter and they have a right to make a profit out of seducing people to avail means to spend more. In any case, one should compare Credit Cards thoroughly before availing any offers being made in the market. Credit Cards can be a real friend if we listen more to the sensible side of us than the one with the horns, tail and pitchfork.

How to cure your holiday spending hangover

Attention all overspent holiday shoppers with bills coming due now. Mint.com, a free online money management service, is sponsoring a contest that could help you pay off those pesky credit card bills.

Mint is looking for the funniest, saddest and/or most creative stories from people who have holiday spending experiences they want to share. As part of its “$5K cure for your Holiday Spending Hangover” contest, the company will pay off two winners’ 2007 credit card balance, up to $5K each. The winners will also get a free credit counseling session with InCharge Debt Solutions, a nonprofit credit counseling and financial education organization. InCharge Debt Solutions is affiliated with Young Money’s parent company, the InCharge Education Foundation.

Contest submissions may be in writing or via a video and can be submitted via a link on mint.com or on the contest website contest.mint.com. The submissions will be online for all to view and rate until March 15th.

The ten highest rated stories and ten highest rated videos will then be judged by a panel of experts and two Grand Prizes awarded on or around April 1…just in time to pay off any remaining credit card balances, fund an IRA or pay taxes.

We could all use an extra $5,000 so I hope you will take a chance and compete.

Making tax time a little easier

I finally got around to doing my taxes this past weekend. I used to pay H&R Block to do them for me but that changed two years ago when I started using a free online tax service instead. However, this year figured to be more complicated tax-wise so I decided to give TurboTax a try for the first time.

TurboTax does offer a free edition for 1040EZ and simple returns but I chose to use the deluxe Web version for $29.95 intended to help users maximize their deductions. I am a self-acknowledged tax novice so I wanted something that was simple to use. In that regard, TurboTax does deliver the goods. The program starts by asking you a series of general questions (name, address, marital status, etc) so you can create a financial record and make sure you complete the right tax form.

Next, I was prompted to fill in my W-2 income data and that of my spouse. The system was able to automatically enter most of my employer’s W-2 information but it couldn’t do the same for her. That was only a minor inconvenience but it meant I had to double check all her numbers because its easy to make a mistake in the process.

The next step was to choose whether I wanted to search for deduction options myself or have the program walk me through each potential deduction. I chose to search for my own although I later went back to have TurboTax search for other potential deductions. My deductions included interest from my wife’s student loans and property taxes for my home and investment property. Filling in all those numbers is simple enough but you need to make sure you have all those documents on hand in order not to have to stop and save what you’re doing until you can find the correct paperwork. I ran into this problem because I didn’t have last year’s tax return with me when I started using the program.

Here’s what happened. I had chose to file my return electronically so that meant I need to use an electronic signature in order to certify it was me filing the form. The program asked me to provide my adjusted gross income from 2006. I spent the next 20 minutes searching for last years’ return before I finally found it. Then, I spent another 20 minutes searching for my wife’s 2006 tax return when I was asked to provide the same information for her electronic signature.

I thought I was done until the program found a problem while doing its final error checking scan. TurboTax claimed my wife’s employer’s address didn’t exist! It turned out I had mistakenly entered the employer’s home state as NE instead of NV for Nevada. Having solved that error, I chose to have my tax refund directly deposited into my bank account and sent the return on its way. The entire process had taken almost two hours but part of that was my fault for not being prepared.

TurboTax emailed me a day later to confirm that my return had been accepted by the government. Overall, I thought the program was convenient and easy to understand. I could definitely see myself using it again next year. Have you used an online tax service or software? If so, please feel free to share your tax stories and tips with our readers.

Top 10 Debt Traps

I’ve discovered a helpful new resource that deals with the biggest financial problem that most Americans have today: consumer debt.

As you may have experienced, debt accumulates very quickly, yet it usually takes a long time to pay off. There are a lot of really good reasons for that, and the booklet “Debt Traps & How To Avoid Them” addresses the top 10:

1. Not knowing enough about your finances
2. Not knowing enough about your credit report
3. Living beyond your means
4. Overspending on credit
5. Getting to much credit
6. Not paying on time
7. Paying only the minimum due
8. Purchasing unnecessary credit card sevices and products
9. Chasing lower rates by transferring balances
10. Abusing debt consolidation

“Debt Traps & How To Avoid Them” provides ways for avoiding each of the above debt traps and offers exercises to help you create a personalized spending plan. The booklet is part of a series called Mind Your Finances that is available from the InCharge Education Foundation for only $4.95. Check out the website for more information.

Five ways to cut your expenses

You can start saving more money today by using the following tips found in ”Increasing Your Spending Power” from the Mind Your Finances booklet series. The booklets offers 46 ways to cut your expenses and advice on how to create your own spending plan. You can order “Increasing Your Spending Power” online for $4.95.

1. Pay off credit card debt.
Every responsible financial plan begins with paying off credit cards, and the one that has the highest rate comes first. This saves you money because you’ll be paying less interest (assuming you don’t charge the card back up). Think of it as a guaranteed investment. If you are paying double-digit interest rates, let’s say 14 percent, paying your balance is like making an instant 14 percent on your money. Where else can you get a return like that these days? Nowhere.

2. Know exactly how much you have and how much you owe.
In fact, write down your income each month and all of your fixed and variable expenses. The more aware you are of your situation, the less likely you’ll be able to spend more than you have.

3. Always shop with a list.
Lists focus your buying habits and help prevent you from impulse buying and squandering your hard earned-money. Remember, spending just one extra dollar a day adds up to $365 in a year.

4. Don’t go grocery shopping on an empty stomach.
If you’re like many people, you sometimes shop when you’re hungry, and, list or no list, you end up buying lost of stuff that looks really good to eat at that moment. Look over your last grocery bill. Not your list–your bill. How many items on your last grocery bill are things you didn’t need?

5. Don’t buy what you don’t need.
For each purchase you make, ask yourself the following question: Do I really need (fill in the blank) or do I just want it? Often, if you walk around the store for a while asking yourself this question, you’ll be able to put whatever it is back where you got it from and walk out of the store empty-handed. The quicker you pick something up and rush to pay, the less time you have to think, and the more likely you’ll be to buy things you don’t need.

Student Video Contest Targets Credit Card Debt

A new video contest is offering a $5,000 prize to the best student Public Service Anouncement (PSA) effort warning young adults about the dangers of credit card debt. I’m not against students having a credit card. I just don’t want them getting into debt. The “Keep It In Your Pants” contest seems like a creative way to encourage students to stay out of debt. I also think the contest name will help get people’s attention.

The contest is being sponsored by the Service Employees International Union and the League of Young Voters.
Go to KeepItInYourPants.org for more information or check out the press release below.

STUDENT VIDEO CONTEST: “KEEP IT IN YOUR PANTS” PSA COMPETITION TARGETS CREDIT CARD “DEBT DISEASE”

It’s spreading … one person can give it to another … even the nicest people have it and can’t get rid of it … you can’t tell if someone has it … it only takes one time to catch it.

The “it” featured in a video promoting a new contest for budding filmmakers is the growing problem of “Debt Disease” among young Americans. With the biggest banks in the United States — including the nation’s largest bank by deposits, Bank of America — increasingly marketing credit cards to college students in particular, the Service Employees International Union (SEIU) and the League of Young Voters unveiled “Keep It In Your Pants” (KeepItInYourPants.org), a video contest with a top prize of $5,000 for the best student-made public service announcement (PSA) running 30-60 seconds.“Credit card debt can ruin your life, spreading and growing like a disease,” said Stephen Lerner, SEIU Assistant to the President and Director of the Private Equity Project. “We’re warning young people of the dangers of ‘Debt Disease’—and urging them to protect themselves the same way they would against any other dangerous and contagious social epidemic.”The first-place winner of the “Keep It In Your Pants” contest

—open to students 14 years of age and older enrolled in middle school, junior high, high school, college, or graduate school—will receive a $5,000 scholarship for school-related expenses. Four runners-up will each win a $500 scholarship for school-related expenses. Submissions will be accepted at KeepItInYourPants.org until March 12, 2008. Semi-finalists will be announced on April 2, 2008 and the winner will be announced at a red-carpet event on April 23, 2008. Complete rules are available at keepitinyourpants.org/Rules.With Americans holding nearly one trillion dollars in credit card debt nationally, “Debt Disease” is a growing issue among college-age individuals in particular. Some of the biggest banks in the country employ troubling practices that contribute to Americans — including students — going deeper and deeper into debt. KeepItInYourPants.org explains what “Debt Disease” is, how it can be caught, and how to avoid it, providing statistics including:* The average American carries as many as nine different credit cards.

* College students are one of the credit card industry’s fastest-growing markets. It is estimated that 78% of college students have at least one credit card.

* The biggest banks already control the majority of the credit cards issued in the United States, and Bank of America controls 1 in 5 credit cards and 1/5 of the credit card debt in the country.

* 82% of Americans believe household debt is a serious problem and the general public is more concerned about falling into debt than about being the victim of a terrorist attack or a natural disaster.

To draw parallels between “Debt Disease” and other social epidemics, the Web site points would-be contributors to examples of current and past videos, including venereal disease-related educational films from the 1940s-1970s.

Got My Union Bank EON Card (VISA Electron)

Just like what the title of this post said, I already got my EON Card (Visa Electron) from Union Bank. Last Monday, I went to Tacloban City just to pick this up and deposited PhP3,000.00 for the Expanded-Use enrollment of Paypal and for my other online transaction.

Actually, last October 2007, I applied for EON Card (VISA Electron) of Union Bank but I was not interested to get it from the Tacloban City branch of Union Bank because of the few reasons listed below:
Union Bank has no branch here in Maasin City.
I don’t know yet if I can transfer money from my Metrobank-Maasin City accounts to the EON Card of Union Bank.
If I couldn’t transfer money from my Metrobank accounts to EON Card, then I need to visit Union Bank’s ATM or Teller in order to deposit money which is in Tacloban City only. It will be fine if there’s a Union Bank branch in Ormoc City because I am always in Ormoc City every Wednesday but Union Bank doesn’t have branch there.
I also applied for the Value Mastercard of Metrobank.
In my case, using a credit card is much better than using the EON card of a bank that has no branch here in my base-city.

Now, soon as I received the Value Mastercard of Metrobank, I immediately set it to my PayPal account to verify my ownership of that PayPal account. PayPal successfully charged $1.95 my Value Mastercard credit card as part of the Expanded-Use enrollment of my PayPal account. I waited for my Value Mastercard credit card account statement to arrive. When I lost patient in waiting for it, I went to the Metrobank Maasin City branch to ask a copy of the account statement. The bank’s personnel called the Cebu office of Metrobank Cards. Then the copy of the account statement was sent via FAX.

Finally, I got the PayPal’s Expanded-Use number. I immediately logged-in to my PayPal account and tried to complete the Expanded-Use enrollment for my Value Mastercard. But the problem is, the Expanded-Use or Expu number I entered is incorrect, so PayPal suspended my Value Mastercard credit card.

However, PayPal’s system suggested that I should sent the following documents to their office via FAX at FAX Number 08707-303-190:
Copy of the Value Mastercard account statement
Photocopy of my two government issued ID’s
Photocopy of my Value Mastercard credit card (back to back)

But the problem is, everytime I dialed that said to be FAX number, an answering machine tells me that I am dialing a disconnected number. I immediately emailed PayPal about this and asked them for another but available FAX number. However, until now I received no response from PayPal.

So, I have no choice but to pick my EON card up at the Union Bank-Tacloban branch.

But then I am again facing another problem because my EON Card can be used after it is activated by the Union Bank Cebu office. Union bank’s personnel in Tacloban City told me that I have to wait for 10 to 15 office days before I can use my EON Card.

Received Ad-Publishing Payment

Actually, my PayPal account received already the amount of $148.65 from an ad-broker. It’s my January 2008 earning from that certain ad-broker. But I am worried that my other income from other ad-brokers are blocked or I mean denied by PayPal because of the receiving limit of my PayPal account. And I can only lift this limit up when my PayPal account will be verified using credit card or debit card.

For now, I can do nothing but to wait for the time that my EON card will be fully activated.

Got My Value Master Card at Metrobank

I finally got my own Value MasterCard from Metrobank. And finally, I can now continue living in the cyberworld, because I finally have my own credit card.

What is Value MasterCard?

Well. Value MasterCard is a credit card, an international card that let’s you settle local and international purchases and subscription using our own (Philippine) currency. It’s similar to other credit cards but it differs in the requirement when applying to have this one, because you don’t need to bring any important documents like ITR (Income Tax Return) if you’ll apply for it.

What you need to do is to visit the nearest Metrobank branch in your area and accomplish a Value MasterCard form and bring with your PhP30,000.00 which will be used as collateral. Don’t worry about your money because it will be deposited (Time Deposit) under your name.

In other words, you’ll not just enjoy using the Metrobank’s Value MasterCard but you’ll enjoy the interest applied to your Time Deposit account.

Value MasterCard to Full Featured Credit Cards

Last December 2007, I talked with the account personnel of the Metrobank Maasin about the credit cards they’re offering and I learned a lot of things about Metrobank Credit Cards.

Well, I think I already told you the advantages and privileges of having the Metrobank Credit Cards, but I forgot to tell you that Metrobank’s Value MasterCard holder can actually upgrade their credit card from Value to full-featured MasterCard credit card without the hassle of applying for it.

In other words, if you can’t avail the full-featured Metrobank’s Credit Card, then you can start with their Value MasterCard. Then show them that you are a good credit card holder by paying your outstanding balance on time. And after 6 months of being a Metrobank’s value MasterCard holder, you can now upgrade your card into the full-featured credit cards.

Just visit the Metrobank branch near you and talk your Metrobank’s account personnel for he or she will help you on this.

Accept Credit Card on Your Site

Tips For Accepting Credit Card Payments on Your Web Site

Accepting credit card payments on your web site is very important if you want to increase sales. Many people are less trusting of web sites that do not accept credit cards, because it makes your web site appear less professional. Also you will possibly lose business, because a person might want to make a purchase immediately, and can only use a credit card to do so. If they have to wait to mail a check or a money order, then they might decide that they do not need your product that badly after all. Once a person decides to make a purchase you want to make it as easy as possible for them to complete their intended purchase.

The idea of accepting credit card payments on your web site might seem like a daunting task, but it can be quite easy if you use a third party merchant to accept credit card payments for you. Many third party merchants exist for the sole purpose of accepting credit card payments online. You will definitely want to research these merchants and choose the merchant that fits your web site and your budget best. However you want to make sure the merchant is reputable, because many cases of credit card fraud exist on the web today. Many of these merchants will charge a setup fee as well as a per transaction fee. It is usually better to accept a larger setup fee than to accept a larger per transaction fee.

There are many reasons to use a third party merchant for accepting credit card payments on your web site. When dealing with a person’s credit card information you need to be very careful that this information is secure. Third party merchants have already created implementations of accepting credit card payments that are secure. Also, customers will feel better about giving their credit card information if they know a reputable merchant is processing their transaction. Third party merchants also make accepting credit card payments on your web site very easy to implement. Most of these merchants offer technical support for the initial setup, and ongoing support if you start experiencing any problems.

Get Point of Sale equipment to help you process credit card payments face to face, plus software to track, control and manage your inventory.

How to Use the Better Business Bureaus (BBB)

The Better Business Bureau in your area is just one of thousands throughout the country. The Council of Better Business Bureaus provides many excellent services to small businesses, and compliance with the Better Business Bureau (BBB) is desirable and respected among consumers. The Bureaus operate in the United States and Canada and offer a voluntary standard of operating guidelines and behavior to companies in any field of service. To use the BBBs, consider the following aspects and services offered:

• BBB Reports on Companies
The Better Business Bureau has reports available on thousands of companies both in your area and nationwide. If you are considering working with another company or making a large purchase or service arrangement, the BBB can offer you information on the past dealing of the company in question. This is an excellent way to learn if a company has been ethical in their past dealings when making your decision.

By the same token, you can make reports to the BBB about other companies. While this is not the same as litigation, reporting unethical behavior to the BBB is enough to force some companies to behave more appropriately. Compliance with the BBB is not mandatory, however, so many of the most unethical companies are undisturbed by reports. If you were to research those companies, however, you will easily discover their misdeeds and proceed to take your business elsewhere.

• Check out the Local BBB
Your local Better Business Bureau has much to offer. To see what services your local BBB offers, visit their website using the BBB locator. Local offices often have information sessions, seminars and guides available that may not be found elsewhere.

• Resolve Customer Disputes
The BBB has an excellent program to mediate disputes between customers and businesses. There are actually many programs available through the Better Business Bureau that can help businesses determine the best route to take with a dispute. There is advice about finding common sense alternatives, a program to help reach a solution without any formal proceedings as well as fully developed mediation and arbitration. These services are designed to help small businesses get help without having to resort to lawyers and full legal expenses.

• Establish Polices and Protection
A huge concern in business today, especially in light of the internet, is protecting your customers’ privacy as well as your own. The Better Business Bureau has programs and information available about privacy and how to best set up a privacy policy. The BBB websites help you understand what privacy entails and how to assure you employees and customers that they are protected, especially if you work online. The BBB also offers a great deal of information about identify theft and its prevention and consequences.

• Reach a Higher Standard of Practice
The Better Business Bureau has a strong foundation in ethical business practices. They encourage all businesses to prepare an ethics policy and live up to a higher standard. This is the one of the most centralized focuses of the organization, and it takes it message very seriously. The BBB website is full of information about the value of ethical business and the right steps to take to ensure you are operating both legally and morally.

It encourages business owners to examine every aspect of their business and gives advice and instructions on opening lines of communication with all levels of employees, keeping accounting and books ethical and ensuring every employee, including management, is living up to the standard you set.

• Demonstrate Your Integrity to Others
Finally, you can apply for membership with the Better Business Bureaus and receive an online reliability badge. This badge can be displayed on a website to build confidence with customers and other companies who recognize the value of your commitment. To earn a badge, you must meet the reliability program requirements which require commitment and dedication. The badge is a sign to others that you work hard at running your business in a way that offers the best service or product you are able to produce while protecting the interests of your employees and customers.

Credit card debt management

Credit card debt management refers to the process of effectively managing your credit card debts in order to avoid difficult financial situations.

According to a recent survey most Americans have between five to ten credit cards even though this number has been reported to touch up to fifty. Consequently, most of them have to face a financial crisis (or worse a bankruptcy) at one point or another in their life. Although there is no denying the fact that credit cards make life easier and offer you the freedom to buy what you want even when you are in a liquidity crunch, they can tarnish your financial position if used unwisely. Thus, it is essential to have a credible credit card debt management process in place before you apply for credit cards and start making purchases left, right and center. Most of us are satisfied with making minimum monthly payments on our credit cards without giving a moment’s thought to the ever increasing interest and principal.

Strategies for Effective Management of Credit Card Debt

Following are some of some strategies that can be employed for effective management of one’s credit card debts:

1. Always Make Minimum Payments on All Your Credit Cards – Experts stress the importance of making minimum payments on all your credit cards irrespective of your financial situation. This is because the effective interest rate applicable to your credit card is increased every time you are late and you may also be charged a late fee. Every single one of your late payments is reported to the credit bureaus and will negatively impact your credit score.

2. Make Payments on Delinquent Accounts a Priority – Always treat making payments on delinquent accounts a priority. All your extra cash should be utilized to getting current on your delinquent accounts. This is because along with damaging your credit score delinquent accounts lead to late fees and ever increasing interest rates.

3. Bring Over Limit Accounts below the Critical Mark – Along with adding over limit fees to your credit card payments, current and potential creditors are warned each time you go over your credit card limit. Thus, bringing your over limit accounts below the critical mark should have high priority and all your extra cash should be contributed towards this purpose.

4. Lower High Balances – Try to keep your credit balances as close to zero as possible especially in case of balance that is close to the credit limit since high credit balances have a negative impact on your credit rating and increase your credit utilization. A low balance implies that you use your credit limit wisely and will reflect positively in your credit score.

5. Prioritize Your Credit Card Payments with respect to Interest Rates – Prioritizing your credit card payments with respect to interest rates is one of the most commonly used strategies for effective management of credit card debt. Pay off the credit card with the highest interest rates as soon as possible. It may also be a good idea to rationalize the number of credit cards you have to ensure that you do not spend more than you can pay.