• May 24, 2018 /  Credit Card
    6

    We’ve all had our slumps. Maybe you’ve experienced this scenario before…

    It’s been a long couple weeks. Your problems started with your existing merchants, from terminal issues to merchants who simply want to take their business elsewhere. These problems cut into the time you had to go out and sell your credit card processing services. But you did your best, going out on sales calls and trying to sign new merchants.

    However, your results weren’t exactly stellar. Not one merchant signed! This news, combined with your other problems, pushes you further down into your slump. In fact, you’ve been thrown out of more merchants’ offices in the last few weeks than at any other time in your career. Clearly you’re doing something wrong. You’ve lost your sales mojo. Your credit card processing company is in real trouble. There has to be something you can do to get out of this slump.

    Sound familiar? Whenever you find yourself in a slump, it’s important to remember than no matter how bad it gets, it’s probably not your fault. There are a lot of factors outside of your control, and you can’t make a merchant sign with you. You can only control what you do and do your best. The actions of others are out of your hands.

    In the high-pressure game of trying to sell your credit card processing services, it can be easy to forget this. But if you do, you’re setting yourself up for unnecessary pain. Measuring your success solely based on how many merchants you sign ties your confidence and happiness to something you really can’t control.

    The solution? Evaluate your success not on whether merchants sign, but on your own actions. If you do the right things, success will come eventually. Focus on the process, not on the results. Try this approach:

    1. Only track your actions. Track what you say and how you say it.

    2. Make sure you’re using a sales process or strategy that has worked for you in the past, or that has worked for others.

    3. Record the number of potential clients you talk to, not the number that sign with you.

    4. Track firm decisions only. A “Yes” or a “No” is something you can learn from. A “Maybe” or a “Let me get back to you” is not.

    5. Let your only goal be to reach a number of decisions during a certain time period. Then book enough time to get those decisions.

    6. It’s important to support your existing merchants in order to retain them, but your credit card processing company’s future also hinges on your ability to sign new merchants. Make sure you have enough time on your schedule for sales.

    This approach may not help you sign merchants right and left. But it will prevent slumps from being so discouraging. Focus on the things you can control–your actions–and you’ll be satisfied no matter what happens. The success will come in due time.

  • May 21, 2018 /  Credit Card
    9

    Aren’t you sick and tired of hearing how “bad” credit cards are and that we should all just cut them up and start living on cash again. Although this sounds nice in some ways, the reality is that we live in a consumer society and credit cards have become a major part of life. The problem is when people don’t know how to use credit cards. Credit card debt is no joke and it can suck you in like quick sand. You can blame credit card companies all you want but in the end its your responsibility to be smart with your money and your cards.

    Credit cards do have a positive role to play in personal finance. If you are smart with it, it can help you better manage and spend your money and it can give you the financial leverage when you need it most. Here are 3 smart uses for credit.

    1. Emergencies

    I do not recommend or encourage anyone to live on credit. its a recipe for disaster. Instead, the best way to use your credit cards is to use it as backup. We all have financial disasters that usually hit at the most inconvenient times. If you don’t have life savings to fall back on then it can really hit you hard. Having a card as a backup can really be a lifesaver and at a fee of about $50 a year, it’s well worth the security that it provides in case you need it.

    2. Controlling Your Spending

    One of the reasons why so many people fall deeper and deeper into debt is because they get caught with their pants down – so to speak. They spend and spend and then fail to make the minimum payments. When interest starts kicking in, its usually already too late and you start sinking. The smart way to use your card however is to pay it off in full every month. Its a great way to control your spending and to now exactly how much you are spending on what. It works really well if you dedicate specific expenses to a specific card – like your groceries. However, the secret is to pay it off in full every month.

    3. Large Purchases

    One of the reasons why businesses like to use credit cards is because it allows you to conveniently make large purchases – even on the internet. We can all get cards with relatively high credit limits and if you have to make large purchases for say a building project or if you buy a lot of stuff online, then its ideal. Once again, the secret is to clear this debt each and every month. On large purchases, the interest can be just as large so make sure you wipe the slate clean every month.

  • May 16, 2018 /  Credit Card
    10

    When a person possesses a multitude of credit card accounts, it is easy for the debt to become quite overwhelming.

    The sum of the payments on all of the credit cards can add up to be a large percentage of the persons monthly expenditures. Due to this type of situation, a person may feel like he or she is losing control of their financial situation.

    When this happens, a person may choose to consolidate credit debt. When a person makes a choice to consolidate credit card debt, he or she will need to contact a non-profit service that will assist them. It is important that the consumer makes sure that any credit card consolidation service is a reputable business that will actually help them.

    This can be accomplished by checking with the Better Business Bureau to find out the history of the company.

    Counselors at these non-profit services can help the consumer by making a current list of creditors and the amount of debt owed each one. Then, the credit counselor will come up with a plan to propose to the creditors.

    The consumer benefits by being able to consolidate credit debt. In other words, as a part of this type of plan, the consumer will end up making one single payment, instead of many different payments. In addition, the consumers overall debt responsibility should be reduced.

    Credit consolidation counselors work with creditors to consolidate credit debt by proposing a reduction in or elimination of interest, and a lower monthly payment.

    This allows the consumer to make headway with his or her debt and eventually pay it off. Credit consolidation counselors perform a great service to the debtor and the creditor in that they allow the consumer to repay his or her debt, and allow the creditor to recover a big portion of the debt that was originally incurred.

    All in all, if a consumers debt has become unmanageable, a responsible choice is to sign up with a credit consolidation service in order to regain control of his or her financial situation. Doing nothing will not solve the problem, and in all likelihood, will just make it worse.

    If you are under financial pressure and are struggling to see a way out, why not check out this SECRET INFORMATION that the banks do not want you to know about because it could have you debt Free in as little as THREE YEARS! DebtFreein3 Break Free from Debt

  • May 9, 2018 /  Credit Card
    14

    Three words and phrases consumers dread the most, credit card debt. Put them together and you have the blueprint for a life span of challenge, tension and aggravation. Why can it be that 3 little words can put a lot worry into the spirits of the average consumer?

    Lets check out credit card debt individually, credit by itself sounds good however too much credit is the main reason why numerous Americans are over extended, discouraged and stressed out. Credit cards are pieces of plastic material that are smooth, accessible, and easy to carry around. Most of the people have two or more cards in their pocket book adding to their situation. n.

    Debt just isn’t a good thing to take around. For those who combine the 3 you get credit card debt. Mix them alongside one another with excessive joblessness, high cost of gasoline, food items plus essentials and you can start to comprehend why credit card debt is affecting so many Americans. It’s easy to see why credit card corporations are foaming at the mouth area for a chance to give you credit cards. Credit cards by design and style are meant to be a effortless way to expend more revenue then you have got.

    What is the solution to this dilemma? Excellent question, this is my individual suggestions to eliminate credit card debt: 1st, you need to teach yourself on the what your credit cards are really charging you. 2nd, buy only what you NEED not what you want. This is a lot easier said then carried out, even so if you can attain this you are 50% of the way. Three, really do not treat credit cards as a totally free loan. For the final two tips I highly recommend you use only one credit card and chop up the rest, and you simply use funds if feasible.

    In your thoughts you would like to make the phrase credit card debt useless. By coaching yourself on the true cost of credit cards you will ultimately increase your standard of living. If the notion of credit card debt is badly affecting your life look for help. Let’s Forget Debt is a nice informational web-site to get information, ebooks and free assistance.

  • May 8, 2018 /  Credit Card
    8

    Many banks offer optional credit card insurance, also known as credit card protection plans or balance protection plans. These plans offer debt protection in the event of the cardholder being unable to settle the outstanding balance. This may be as a result of death, disability or critical illness, or retrenchment.

    Credit card protection plans are affordable and simple to secure, and as a credit card holder, its worth exploring this type of insurance to determine whether its worth having.

    Learn more about balance protection plans below, or, if youre not yet a cardholder, explore the range of credit card options available to you.

    How balance protection plans work
    Just like any other type of insurance, credit card insurance covers the policyholder in the event of the unforeseen. Every time you use your credit card, youre accumulating debt. If something were to happen to you that made it impossible for you to cover that debt, how would the bank recover its money? Thats where a balance protection plan comes in.

    If you have a balance protection plan in place, your credit card debt will be covered up to a set limit in some cases, as much as R150,000 per account. This amount varies from lender to lender, and may also depend upon the type of credit card you have. During a very difficult time, the burden of paying your credit card balance will be lifted from your or your familys shoulders.

    How credit card protection plans pay out
    Credit card protection plans insure your outstanding balance against death, disability, critical illness and retrenchment. In the case of death, a lump sum is usually paid out to cover the outstanding amount, up until the limit set by your lender again, R150,000 for example. The same applies for critical illness. If a cardholder is diagnosed with a critical disease (as defined by his or her credit card protection policy), the outstanding balance will be settled, up until the maximum amount specified by the policy.

    In the event of disability, which renders the cardholder unable to earn a regular income for more than 30 days, the policy will generally pay out in instalments over a period of time for example, equal monthly instalments over 6 months. If the cardholder is retrenched, the policy will also usually pay out in monthly instalments. In the latter instance, these instalments will not generally cover the entire outstanding balance, but a portion thereof.

    The specific amount of insurance provided by your policy will depend on your insurers terms. Be sure to discuss these terms with your insurer or lender.

    Applying for a credit card protection plan
    When you apply for a credit card, you may be asked whether youd like to take out a balance protection policy. If not, broach the subject with your lender. You can also apply for credit card protection plans online or at a bank branch.

  • May 5, 2018 /  Credit Card
    5

    If feels like credit card offers are constantly being jammed inside our letterboxes. It seems as if we also see that they are promoted just about everywhere. How can we possibly discover which offers is going to be the best solution for your requirements? There seems to be quite a few more bank cards being added regularly to the large amount of choices you already have.

    Should you be thinking about a bank card, you ought to begin with your current commercial lender to see what they currently offer. There are numerous benefits to getting a charge card through your own banking institution. For one, you might believe the credit card is a lot more secure since you have been using this specific lender for a long time. An additional factor is that many banks are offering great bonuses for acquiring one of their own charge cards.

    There is simply no doubt that the credit card offers that you can get cash rebates on the things they buy using their card account can be particularly useful. Purchasing the basic needs while earning rewards for doing so is a good blend in any bank card.

    As expected, the specific solicitations you receive are all going to print the rate of interest in large numbers. Even so, you will have to make certain you look at the small print that is connected with this specific offer to make sure that you are aware regarding all other fees required and anything that may have an impact on the introductory annual percentage rate.

    Oftentimes this is the situation when it comes to considering a card. Many people never read the small print and that inevitably winds up surprising them whenever extra fees are incurred that they previously knew practically nothing about. This is applicable for company bank cards as well which includes Chase ink.

    Whenever you get credit card offers that you’ll be taking into account be sure to take a look at the interest charges. This really is pretty much going to determine whether the credit card you choose will be of value. The most exorbitant annual percentage rates you can find are generally for cash advances that you have the option of getting through your account. It’s advisable not to opt for a cash advance and to at all times pay your bills promptly.

    It is a fact that credit card offers can come and go, and the reasons for picking one offer compared to others will no doubt change as well. Always remember the reason why you may need a charge card, what interest rate is at present being offered, the benefits that happen to be currently marketed and fees associated with the utilization of the card account and you should not have an issue obtaining one that will benefit you.

  • April 24, 2018 /  Credit Card
    8

    Hopefully these tips and strategies for consolidating credit card debt will help you to save good amount of money. Instead of paying too much cash to your creditors, simply put all those savings straight to your packet. So here are some tips and strategies for consolidating credit card debt that could help you save some money.

    Firstly you have to sacrifice by cutting off some of your regular budget. You have to be committed and be concentrating on paying off the debt. The quicker you can possibly pay back your debt the lesser the interest rate you’ll be paying to your lender. Always do not forget that the more time you take in paying off your debt, the more in which it will cost you so the more you will remain in more hardship in paying off the debt. When consolidating credit card debt by switching multiple credit cards within one credit card.

    When you choose to move to another credit card, this strategy would really help you if the new credit card offers a lesser interest rates compared to the existing credit cards interest rates. I know you get the idea on how you would save money with this tip. Another advantage youll get is there are offers by credit card companies that once you switch your existing balance into their credit card, they normally grant a very low introductory rate and even at times a 0.00% introductory rate which often runs for 6 months and upwards will be given. This is really effective only in the case you have the intention in paying these debts you owe in the time period when your introductory rate is yet lower. Keep in mind that the disadvantage with this method is when the introductory rate is finished, theres a huge possibility that the new interest rate would be greater compared to the interest rate you had in the past.

    Thirdly when consolidating credit card debt, you may choose in this strategy. You could get a debt consolidation loan which offers a lesser interest rate when compared to your current interest rates. Then you could pay the debt with this debt consolidation loan. Yet always take into account that it also has a disadvantage if youre failing to pay what you owe. A few loan services may get your property that you had signed up as your collateral.

    Our final useful tip to you for consolidating credit card debt is when you have your own house, you might have a home equity loan to repay the credit card debt. You might in fact be able for a tax deduction which you wont most likely get if your debt is with your credit card. Check out the cost benefits of this kind of loan so for you to get the benefit in the long run. But bear in mind that your own home is the collateral if you ever do not pay out the debt.

  • April 23, 2018 /  Credit Card
    9

    Lets face it we have all been in a position where we have needed a little hard cash depending on if it is at the end of the month or a unforeseen bill that needs paying straight away. However before you go off down to the ATM and take that cash out on your credit card, lets just take a look at the reasons why you should be careful before borrowing from the credit card company.

    Firstly every time you take money out of the ATM the fee for that money comes into play immediately. The cash advance that you are thinking about can have between 2 and 4 percent Higher interest rate than your regular credit card rates.

    Not only will you be charged by the credit card company for borrowing the cash you will also find that you are charged a percentage by the ATM vendor. Those handy little ATM’s in the gas station can charge up to 1% to give you the cash! That is an extra 1% you have to pay to get that money.

    Confused? Ok let us take a quick look at how this all works:

    You see on a market stall a fantastic stereo that you have wanted for ages. The vendor being a street trader would prefer it if you pay in cash (lets face it if you use your card there he gets charged for the fact that he is using the credit card companies facilities). You decide you must have it so you go to the ATM and draw out $200 on your credit card.

    This cash will be the last thing that your credit card company lets you pay off the card. So if you have $500 on your card and you take a further $500 out at the higher rate of interest as it is cash, you will pay that rate of interest until you reach zero balance even if you pay off $500 the next day! So you will still end up paying over the odds to borrow that money.

    Eventually when you hit the zero balance you will notice that you have over the time that you borrowed the money been charged three times. Once by the ATM where you got the money from. Once by the credit card company for taking the cash option and once more by the credit card company who will charge you a higher rate of interest for the privilege of having cash in your hand.

    Is it really worth it to get something a few days early?

  • April 16, 2018 /  Credit Card
    12

    Prepaid debit cards are a good alternative to credit cards for anyone who is trying to control their spending. A prepaid debit card allows a consumer to deposit their money into a virtual account that can be accessed through a debit card. Once the funds are depleted, the consumer cannot spend anymore.

    Unlike a credit card, a prepaid debit card does not allow a consumer to spend money he or she doesnt have. This prevents the consumer from racking up debt that he or she cannot pay off. Additionally, there is no interest charged on a prepaid card, and no bills to pay at the end of the month.

    All these make the prepaid debit card a more responsible tool for budgeting and spending money, at least compared to a credit card.

    In addition to controlling spending, many people like to use prepaid debit cards to send money abroad or give a gift to a relative or friend. Since these cards are easy to load and mail, they are ideal for people who need to send money abroad. In fact, they are safer than sending cash or checks through the mail, since many cards are able to be re-issued if the proper paperwork is kept. These debit cards can be used in many countries. A Visa debit card is particularly convenient since it can be used at thousands of stores and restaurants that also accept a Visa credit card.

    Unlike credit cards, debit cards do not charge interest, but there are a few fees involved with using them. Just like a checking account at the bank, most prepaid cards will charge a maintenance fee once a month, as well as a small transaction fee when the card is used. Prepaid cards such as a Visa debit card do this in order to recoup their costs for issuing the cards and transferring the money from the card to the merchant or to other accounts. However, these payment and transfer fees are very low compared to those charged by banks for similar transactions.

    All in all, prepaid debit cards are a great way to control spending through the holiday season, an excellent alternative to a high fee checking account, and an inexpensive way to transfer money to relatives and friends abroad.

  • April 15, 2018 /  Credit Card
    12

    Many people consider that credit card is a symbol of wealth and it can be a wonderful financial tool that offers great benefits for those who utilize it to their advantage. If you have strong self discipline to clear off your outstanding every month, holding a card makes a great financial sense to you. However, temptations to overspend and live beyond one’s earning ability are the main risks that cause the card holders to be burdened by deep debt.

    Purchasing online and swiping the credit card during shopping are really easy tasks and you are definitely enjoying the moment. However, if you don’t have the ability to pay for the amount you swipe based on your current income, within a short period, you will find yourself drowning in debt. Not being able to pay back on time can lead to the damage of one’s creditworthiness and it is hard for obtaining other loans in the future. Although you won’t be sued for bankruptcy by the banks as credit card debt is an unsecured debt, it is hard for you to obtain any financial aid for other important purpose and the possibility to be blacklisted by the banks and financial institution is high.

    Besides, you may also face the risk of identity theft. This happens when someone may obtain your credit card details and use them to make purchases online on your behalf. The purchases may be huge amount and you will be facing difficulty to prove that you never make the purchase. Normally in this type of situation, you will not be able to use your credit until the detailed investigations are done by the bank or credit card companies. Although the banks will not hold you responsible for such transactions, it is troublesome and time consuming for you to settle the case.

    To sum up, there are some risks you need to bear when you are holding the credit card. It is important for you to handle the usage in a careful and responsible manner.