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Understanding Online Card Processing

October 8, 2008 | By admin In credit account services | Comments(0)

If you want to sell services or products online then you will need the services of a company that provides you a Payment Gateway (Payment Gateway). A portal for payments to a page on the Internet is the equivalent of terminals that are used in a business to pass the physical credit card, transmitting data to the bank, verify and process the payment. These are called merchant accounts.

The Payment Gateway is the software that will be put in charge of this whole process once the customer has filled out and sent your payment on a secure page that normally is hosted on your website using normal
credit card processing. Once the information is processed, the amount of the transaction is credited to your account trade (merchant account). Before paying the funds, the company that you provided, payment processing, discounted percentage as commission for the service this percentage is known as the Discount Rate and each company has different rates, can be between 0% – 4%. Some companies that offer this service portal payment charge a fee per transaction in addition to Discount Rate, the rate may be between $ 0 – $ 0.5.

If you do not have a merchant account:

Then you need the services of a third who is in charge of making the entire process involved in accepting credit card payments. When you have a company that offers these services generally do not stay the order page on your site, but will put a link that takes you to the page of customer orders secure, hosted on the website of the company that provides the service you processing fee.

After that the credit card of your client is processed, the funds are deposited in the Merchant Account of the processing company. After
online credit card processing the company also applied a discount rate that may be between 5.5% and can reach up to 19% with some companies. Additionally, the fee charged for every transaction that can vary between $ 0.45 to $ 1.00. After making these deductions for the amount you correspond with you by sending a check in dollars delivered weekly, biweekly or monthly. Alternatively they can deposit funds in an account in USA normal (that you can cost between $ 0 – $ 20). Or they can transfer the funds to your personal bank account in your country for a fee that can be between $ 3 – $ 36 depending on the company of providing the service and the amount transferred. During this entire process you won’t need a
credit card machine.

Reserve fund

All companies that you provide payment processing service retain a percentage (5% – 6%) of the total amount of transactions. This is an amount that you return after a period of time and do so in order to cover any eventuality as customers who request refunds and to guard against the possibility that comets fraud or in violation of your customers in the delivery of products. This is an excellent method of retail credit card processing

Filed under: credit account services

Should I get a secured credit card? What are the pros and cons?

January 17, 2008 | By admin In balance to limit ratio, checking account, credit account services, secured credit card, unused credit cards | Comments(0)

Secured credit cards are just one of the ways you can use to build credit. This is ideal for people whop are suffering from bad credit history. Secured credit card can be obtained when you open a saving account and even with a small risk on the part of the banker, you can get the credit card. You need to have a very small amount to deposit in the savings account but enjoy all the facilities of the credit card with that. You just need to fit the basic requirements of the secured card provider. It also has an annual fee like any other credit cards.

Pros of secured credit card are:

  • You can improve your credit history.
  • The secured credit cards can be used for purchasing any type of goods and services.
  • Bank will pay interest on your deposit in the account.
  • Regular repost to the credit card investigative bureau

Cons of Secured credit cards

  • Most of the credit card provider does not want to provide a secured credit card as he would be at a risk.
  • Additional changes and application costs are involved.
  • These cards are not accepted in most of the places.
  • The card issuer might not report to the credit bureaus.

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Filed under: balance to limit ratio, checking account, credit account services, secured credit card, unused credit cards

If I close my checking account and credit cards will this affect my credit and why?

January 11, 2008 | By admin In Bad credit, Good credit, Poor credit, bad credit bank accounts, bad credit checking account, balance to limit ratio, checking account, close my credit account, credit account services, credit score, unused credit cards | Comments(0)



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For many of us, credit scores end up being a number that is determined without much knowledge on our part. Unfortunately, this number that we know little about is established because of decisions that we make. And when it comes to those good ‘ol credit cards, your credit can definitely be affected.

The two biggest parts of your credit score are built based on credit availability (versus debt) and payment history. While the history of your on time payments can lower or raise your score, the amount of debt that you have in relation to the amount of credit you’ve earned can have a larger influence. All of this links to your credit-utilization ratio. The ratio, calculated by dividing your available credit into your debt, reveals much of your credit score. The higher your ratio is, the lower your credit score.

Imagine that you had four credit cards with a total credit line of $20,000. Your debt on these two cards is $10,000 for a credit-utilization ratio of 50%. If you decided to cancel one of these cards, that had a $5,000 credit limit and $0 debt, then you’ve just changed your credit-utilization ratio to 75%.

The biggest benefit to closing a credit card account is to reduce your chances of charging more debt. So, although it may lower your credit score for the time being, it may help you pay down your balances faster. Keep in mind that it’s also recommended to cancel your newer cards first. Older cards have more payment history and canceling one of those would have a bigger impact on your overall credit score.

Filed under: Bad credit, Good credit, Poor credit, bad credit bank accounts, bad credit checking account, balance to limit ratio, checking account, close my credit account, credit account services, credit score, unused credit cards

Credit Account Services For People With Bad And Poor Credit

November 29, 2007 | By admin In Bad credit, Poor credit, bad credit bank accounts, bad credit checking account, checking account, credit account services | Comments(0)

Credit account services do exist for individuals that may have existing poor or bad credit. People that are seeking a bad credit checking account and others who want to locate no credit check bank accounts are usually the ones that have fallen into trouble. Let us examine these scenarios that many Americans find themselves in and just don’t see a way out. If you do find yourself in any one of these predicaments we have many options that may help you out of your slump.

Bad Credit Scenarios:

  • Have a credit score below 350
  • Property is being foreclosed on
  • You are considering bankruptcy.
  • You cannot pay your bills and survive.

This is it in a nutshell. If you cant survive based on that fact, then you will definitely end up in a quagmire. There are several companies that offer credit account services geared at poor credit holders. These companies offer

  • no credit check bank account
  • checking account no credit check
  • credit card account management
  • visa credit card account
  • credit card no checking account

Along with a host of other great credit account services these companies will put you on the right track in getting out of credit woes. Primarily with establishing an online credit card account, this is perhaps the best way to salvage your credit score from the comfort of your home. You will be in the right shape because there are methods to escape. The first step we think you should make is to close your bad credit accounts, this means that you need to pay off the worst ones and balance the good ones. If you cant then you should seek debt consolidation help to get your credit accounts in good order and stead.
Try these companies to get back in the ‘black’.

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Filed under: Bad credit, Poor credit, bad credit bank accounts, bad credit checking account, checking account, credit account services