tillful

MAY 23, 2023

How deposit refunds work To qualify for a deposit refund, you often need to have your account be in good standing with the credit card company. That means that you should have no outstanding balance, and not be in violation of any of the card terms and conditions. Are you actually going to use the card?

Credit Card Companies 52

Credit Card Companies Credit Scoring Credit and Collections Credit Card Payments 52

Fundera

SEPTEMBER 13, 2016

When you take out an unsecured business credit card, you don’t have to put down a deposit as collateral for the card in case you can’t pay off your debt. Giving out unsecured credit is a riskier deal for credit card companies, so they only approve cardholders with the best personal credit scores.

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Credit Scoring Credit Card Companies Credit Card Payments Bankruptcy 103

Fundera

SEPTEMBER 13, 2016

When you take out an unsecured business credit card, you don’t have to put down a deposit as collateral for the card in case you can’t pay off your debt. Giving out unsecured credit is a riskier deal for credit card companies, so they only approve cardholders with the best personal credit scores.

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Credit Scoring Credit Card Companies Credit Card Payments Bankruptcy 103

Fundera

AUGUST 14, 2020

Cash Advance APR : The cash advance APR is the rate you will be charged for withdrawing cash from your line of credit. Penalty APR : This may be incurred if you miss a credit card payment. Along with having a higher rate, you may also do damage to your credit score. It also means you have a non-variable APR.

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Credit Card Payments Credit Card Companies Credit Scoring Small Businesses 98

Lockstep

FEBRUARY 22, 2023

Using Lockstep Self Service, your client can opt-in to pay with a credit card or by ACH. For credit card payments, a modest surcharge covering the cost of the transaction processing fee and Interpayments fees will be added. For example, businesses are not allowed to surcharge debit cards.

Credit Card Payments 10

Credit Card Payments Credit Card Companies Credit and Collections Transactions 10

CreditStrong for Business

MARCH 9, 2023

That may mean that your credit score with one major credit bureau is different from your score with other credit bureaus. For example, if you’ve been making large credit card payments that aren’t reflected in your Experian score, it might be because the credit card issuer only reports to Equifax and TransUnion.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit and Collections Credit Card Payments 52

Fundera

AUGUST 26, 2018

Although your card is linked to your business, there’s a very high likelihood that you signed a business credit card personal guarantee. That essentially assures a lender that, in the case you can’t pay back your business credit card debts, a card issuer will be able to collect from you personally.

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Bankruptcy Chapter 11 Credit and Collections Credit Card Companies 65

Due

OCTOBER 23, 2023

For example, if you have a $73 credit card payment, add $7 to make it an even $80. Keep making payments on your debts in the meantime, and you will soon see a difference. Also, don’t get upset if a company says “no.” The next time you pay, round up a couple of dollars. Get a part-time job.

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Credit and Collections Credit Scoring Bankruptcy Credit Card Payments 52

Fundera

NOVEMBER 1, 2018

Prepaid business debit card holders preload their card with however much money they want to spend, ensuring that they never go over their limit or spend more than they can afford. The credit card companies began offering lines of credit that were collateralized with an equal sum of money deposited with the credit card bank.

Small Businesses 49

Small Businesses Credit Card Payments Credit Card Companies Credit and Collections 49

Fundera

JULY 5, 2018

With a prepaid business credit or debit card, the user preloads with the value of their choice from a business bank account —which means you can’t spend more than their limit. Prepaid cards also carry logos of major credit card companies like Visa or Mastercard, so they’ll work where most credit cards are accepted.

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Credit Scoring Credit Card Companies Credit Card Payments Default 55

Fundera

MARCH 16, 2019

Cash Advance APR : The cash advance APR is the APR you will be charged for withdrawing cash from your card’s line of credit. Penalty APR : A penalty APR may be incurred if you miss a credit card payment. Along with having a higher APR, you may also do damage to your credit.

Credit Card Payments 68

Credit Card Payments Credit Card Companies Small Businesses Default 68

Fundera

JANUARY 7, 2019

Sometimes you can’t make a credit card payment, or find that there was an account error that prevented your auto-pay from going through. Any time you fail to pay your card on time, or in accordance to the terms of your account, you’re likely to face a late fee on top of your existing overdue payment.

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Deductions Credit and Collections Credit Card Payments Credit Card Companies 50

Fundera

MARCH 22, 2019

MSPs provide the underlying architecture that debits your customers’ credit cards, getting you paid while letting your clientele have a broader variety of payment options. Dharma Merchant Services provides the back-end software to help power your small business’ abilities to accept credit card payments.

Transactions 40

Transactions Small Businesses Credit Card Payments Credit Card Companies 40

Fundera

FEBRUARY 28, 2017

A secured credit card is “secured” by a deposit you make against the credit limit of the credit card. The bank that issues you the secured credit card holds that deposit just in case you don’t make your credit card payments down the line. Balance payments are applied differently.

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Credit Scoring Credit Card Payments Credit Card Companies Deductions 75

Fundera

JUNE 5, 2018

If the worst-case scenario occurs, and your business falls behind on their credit card payments, the credit card company can leverage that personal guarantee and seize any and all of your personal financial assets to recoup that missing debt.

Credit Scoring 71

Credit Scoring Default Small Businesses Credit Card Payments 71

CreditStrong for Business

MARCH 8, 2023

Those performed by credit card companies for purposes of marketing their pre-approval offers. Some checks are performed by those a consumer has an existing relationship with such as credit card companies making decisions regarding adjustments to credit limits, interest rates, etc.

Credit Scoring 52

Credit Scoring Credit Card Companies Credit and Collections Credit Reporting Agencies 52

Lockstep

FEBRUARY 8, 2023

At face value, surcharging is a way for businesses to offset the fees they are charged by credit card companies. Using Lockstep your client can opt-in to pay with a credit card or by ACH. Surcharging can be a controversial topic today. In this blog, we discuss the pros and cons of surcharging, today.

Credit Card Payments 52

Credit Card Payments Credit Card Companies Transactions Payment Portals 52

CreditStrong for Business

MARCH 10, 2023

Fortunately, there are ways to improve your overall credit profile to offset the adverse results that late payments have on your credit score. Equifax, Experian, and TransUnion, the three major credit bureaus, compile the data that creditors report. The type of credit account alone should not make a difference.

Credit Scoring 52

Credit Scoring Credit Card Payments Bankruptcy Chapter 7 52

Fundera

JANUARY 27, 2019

Plastiq is a payment app that lets you consolidate all your purchases onto credit cards, maximizing rewards and cash back. Consumers and small businesses can use Plastiq to pay with a credit card, even when a vendor won’t accept credit card payments. What Is Plastiq?

Small Businesses 40

Small Businesses Credit Card Payments Dashboards Credit Card Companies 40

Fundera

MARCH 17, 2019

At a certain point in their operations, most small business owners will need to be able to accept and process credit card payments at their point of sale, as plastic is likely the preferred payment method of the majority of their clients and customers. That way, you can start accepting credit card payments ASAP.

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Credit Card Payments Transactions Nonprofit Organizations Credit Card Companies 40

Fundera

APRIL 5, 2018

That said, you can be pretty certain that the card issuer will consider this criteria really carefully when you apply for your business credit card. Credit card companies want to know that you’ll spend responsibly, and that your revenue can handle monthly credit card payments.

Credit Scoring 49

Credit Scoring Credit and Collections Credit Card Companies Credit Card Payments 49

Fundera

JULY 30, 2018

Cash advance credit card loans were designed for these kinds of emergencies. A cash advance is a short-term loan from your credit card issuer. In most cases, the credit card company won’t let you borrow money in the full amount of your credit line—rather, they’ll cap your withdrawal at a portion of your credit limit.

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Credit Scoring Credit Card Companies Credit Card Payments Small Businesses 72

Fundera

NOVEMBER 19, 2019

WePay is an online payments service based in the United States and is now affiliated with Chase Merchant Services. WePay offers payment solutions for platform businesses, including crowdfunding sites like GoFundMe. WePay accepts payments from all major credit card companies and banks. There is a 2.9% + $0.25

Credit Card Companies 40

Credit Card Companies Transactions Credit and Collections Small Businesses 40

Fundera

DECEMBER 3, 2018

But where a POS system encompasses those several capabilities we alluded to—think inventory management, employee management, and customer-behavior data—strictly speaking, a POS terminal refers to the machine proper which accepts credit card payments , whether that’s in person, online, via your smartphone or tablet, or over the phone. .

Credit Card Payments 40

Credit Card Payments Credit Card Companies Transactions Small Businesses 40

Fundera

NOVEMBER 14, 2018

The main three credit reporting agencies— Experian , Equifax , and TransUnion —each have their own proprietary method of collecting information about borrowers, meaning they can collect slightly different information at different times. For instance, a credit card company might report only to Experian and not the other two bureaus. .

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Credit Scoring Credit and Collections Credit Card Companies Default 57

Fundera

MARCH 26, 2018

Secured credit cards are backed by a cash security deposit, which functions both as collateral, in case you can’t pay back your debt, and as 90%-100% of your credit limit. Some secured credit cards, like the Capital One Secured Mastercard , actually have no minimum credit score requirements.

Credit Scoring 71

Credit Scoring Credit and Collections Accounts Receivable (AR) Bankruptcy 71