How Can A Prepaid Credit Card Benefit Your Business

Believe it or not, having a prepaid credit card is an important aspect of business ownership. A prepaid credit card can help your business in many ways. A prepaid credit card can give a business access to funds it would otherwise not have. They can even help a business grow by providing means that would otherwise not be available. you if you are not careful. A prepaid credit card can provide you many of the benefits that a traditional card can offer. Before applying for a traditional  card offer take a look at some of the advantages that a prepaid credit card can offer.

Other Important Aspects Provided By A Prepaid Credit Card

One of the most important aspects that a pre paid credit card can offer is the ability to control your money more effectively through limits. A pre paid debit card can loaded with a budgeted amount of money that can be used for a specified period of time. It is easier to keep spending over your limit if you have a traditional type credit card. However, if you restrict your card usage to your budgeted amount you will end up better controlling your money.

Instead of issuing an employee a typical open ended credit line that can be abused employers can use prepaid credit cards. A Prepaid card can help a business keep track of employee spending while also restricting that individual from over spending. Employers who issue corporate cards that do not have spending limits open themselves up to all sorts of fraud possibilities. However, an employer who issues pre paid cards can control spending to the dime. Employees with prepaid cards will be required to call in for more money when they reach their spending capacity. You can send your employee with just enough money in the card to make the purchase that needs to be made and not fill up multiple tanks of gas for family members on the company dollar.

Prepaid credit cards also offer the user the convenience of having a credit card without the risk. You can not make flight reservations over the phone if you do not have some sort of debit or credit card to use. You can not make hotel reservations either or pay for online purchases without their usage either. There are many instances when you need some form of payment that is not cash or check. Debit/Credit cards can be quickly verified for merchants when you do over the phone or online transactions. Pre paid credit cards can also be used to pay employees. Instead of issuing a check, you can issue an electronic transfer to your employee/s debit account and he or she will have access to their pay check in an instant. Typical paychecks need to be written, cashed, processed and quite frankly no longer necessary.

Another way a prepaid credit card can help a business is in the daily record keeping. If you habitually begin using your prepaid credit card for all your business expenses you will have a complete record of all your transactions. All types of cards that these days offer some form of online management tool that grants you the ability to log on and off of your account on a regular basis for the purpose of checking your transactions. Your transactions are then further classified accordingly as time goes by. This gives the business owner all the necessary info to keep track of expenditures and make decisions as to where he or she need to cut spending. This will further simplify your life once tax season comes around. Simply, file all your statements on a monthly basis and you will have your records in order in case of any sort of audit.

There are many ways that a prepaid credit card can help a business. A prepaid card can help a business keep their budget under control simply by restricting the amount of money on the card. Typical credit cards allow a lot of spending freedom that can sometimes lead to future financial problems. A prepaid credit card can also help a business control employee spending as well as fraud. Many times traditional spending cards are issued that can easily be abused. A prepaid card gives the employer complete control of his or her employee spending by imposing restrictions. They can also be used to quickly and easily pay employees or send just the right amount of cash to make that one particular purchase that you need. Lastly, there are numerous ways that a prepaid credit card can help your business if you use a little imagination and common sense.

How To Obtain A Business Credit Card For New Business Owners

For a small business financing can mean the difference between life and death. There are many ways to secure financing for any sort of small business these days. One way, is to obtain a credit card. However, many new business owners are unaware of how to go about applying for a business credit card. The owner can establish credit in the name of the business without affecting personal credit or he or she can sign for the business personally and assume all the liability. The purpose of this article is to explain to new business owners how they can obtain a business credit card for the first time.

The first thing any small business owner should do is establish a checking account under the name of the business. This can be done quite easily at your local bank. If you are a sole proprietor than you will have to provide your bank with your social security information for the account. However, if you are the owner of a a newly formed corporation you will need to obtain a federal tax identification number otherwise known as an EIN. Once you have established your business checking account you will need to start making regular deposits and show that you have regular cash flow. This will begin to start establishing some credit for your company. Be careful not to over draw the account as well. Business credit card issuers will look at your bank account history as a way to determine your creditworthiness.

The next step you want to take to establish good credit for a business credit card is to also establish credit with vendors in your industry. Set up credit accounts with local vendors such as office supply vendors as well as merchants who may provide your company with any raw materials. The bottom line is to start establishing a payment history with other businesses. Some of these merchants will then in turn report to the credit bureaus that will also set a credit precedence for your company. All business credit card providers will look at the three credit bureaus as well in order to make a determination as whether or not they are going to issue you that new business credit card.

Once you have established a credit rating than it is going to be time to start looking for a business credit card provider who is going to best suit your needs. You will want to go over a variety of business credit card offers before you apply for any particular card. Examine features such as the interest rate and other fees associated with that business credit card offer. You will also need to determine if you plan to carry a balance or not. Those who do not plan to carry a a balance will want to look at different rewards business credit card offers that are on the market. A small business can save money on a regular basis if the owner chooses the right rewards business credit card. Look for a rewards offer that is going to suit your needs the best. If you plan to travel a lot than a business credit card that has good travel rewards program is probably your best bet.

Once you have chosen the right business credit card provider than you can start the application submittal process. Prior to application submittal, the owner will want to gather some important information. Just as you did with your bank account you will need information such as your social security number is you are sole proprietor or federal tax identification number if you are incorporated in any way. You will also want to get together your past tax returns with the IRS to prove your income. A profit and loss statement verified by a Certified Public Accountant will probably also be necessary. Once you have all this information gathered you can begin the normal application process of filling out requirements such as business address, name of owners, type of business, number of years established, as well as bank account and credit references. This is where building up a good history with local merchants is essential for obtaining a business credit card.

The Last Step For Submitting A Business Credit Card

After the paper work has been turned in the business credit card issuer will look over your criteria and decide if they will grant you the credit that you are seeking. If your creditworthiness meets up to the issuers expectations than they will grant you a business credit card. If you are rejected, you will be told so in writing and will be given an opportunity to find out why you were rejected. Those who are rejected can apply for a business credit card again in the future once they have improved their credit situation.

What is a disposable or virtual credit card Number

Everything from paper cups to cameras have become disposable these days. You can go to your local convenience store and pick up a slew of disposable products such as cameras and even cell phones. In the credit card world there are also options that are essentially disposable. Virtual credit cards, also referred to as disposable credit cards can be obtained through a variety of credit card issuers on the market today.

A virtual credit card is essentially a credit card number that will expire within a very short period of time or after just a few uses or even just one use. Virtual credit card numbers are issued for the purpose of shopping online or any form of high risk transaction. The purpose of having a disposable or virtual credit card number is being able to shop securely online or even just over the phone. Perhaps, you are dealing with a less than reputable vendor that you would not want to have your credit card number. Simply contact your credit card issuer and ask for a virtual or disposable credit card number. The other big advantage is that if anyone were to hack your number online the card number would no longer be good. This would make it impossible for someone to steal your number and go on a shopping spree with your dollar.. Purchases made with a disposable credit card number will show on your statement as regular transactions or will show separately.

The main purpose an individual or company would want to use a throw away credit card number is for shopping online. Many people still fear using their credit card on the Internet. The concern is that hackers will get a hold of their number. However, these days, there are many secure websites that use SSL technology to encrypt credit card transactions being made online. Large online retailers such as Amazon and Wal Mart spend large amounts of money every year on online security measures that will protect their customers. Consumers should also be aware that most credit card issuers have a zero fraud liability policy that protects their customers against theft. However, for those that are still skeptical about making purchases online you can always request a virtual card number from your issuer.

There are quite a few disadvantages to using a virtual or throw away credit card number. When you go to rent a car online for example, you give them a virtual number and they will only be able to verify it once. At the end of the car rental the rental agency will need to total your millage costs, fuel costs, etc and re charge your credit card. If you give them a disposable card number that can only be used once they will not be able to finalize your charges. The same hold true when you use your card to make hotel reservations or even buy theater tickets online. The other major disadvantage to using a virtual credit card number is when you need to make recurring payments online. For example you could be purchasing vitamins online that have refills sent to you every thirty days. Your online vitamin retailer will not be able to charge your card multiple times if the number is going to expire immediately.

Disadvantages of Virtual Credit Card Numbers

These days there is really no need to use a disposable or virtual credit card number for online purchasing. There are many precautions that anyone can take in order to minimize the risk of online identity theft from occurring. Shop online with websites that use Pay Pal as their card processor. Pay Pal provides buyer protection against theft. Should you not receive the item you ordered you can dispute it through Pay Pal. If the site does not offer Pay Pal make sure that they are using SSL technology. Just look at the URL and make sure the beginning starts with “https//” and not just “http//”. This ensures that you are on a secure site. Also go through your credit card statement every month and report any charges that you did not make. A lot of times credit card number theft can come from other sources besides online shopping.

Rewards Credit Cards

Rewards credit cards are among the most popular and sought out card offers on the market. Rewards credit cards offer consumers the ability to earn points by making purchases under certain categories such as gasoline, airlines or hotels by using a particular card. Rewards credit cards come in sorts of shapes and sizes, so to speak. However, they do come at premium cost. Rewards credit cards usually cost consumers on average at least 5 percentage points above a no frills credit card offer. Those with less then perfect credit will even pay a higher spread. However, a savvy consumer that knows how to use their card to their advantage will actually be able to save money. On the other hand, if you plan to carry a balance on your card regularly than a no frills credit card might be your best bet. The purpose of this article is to examine the feasibility rewards credit cards versus plain Jane no frills credit card offers.

Rewards Credit Cards Can Save Consumer Money When Used Properly

As stated in the opening comment of this article, rewards credit cards are among the most popular card offers on the market. They offer consumers the ability to earn points and use these points towards other purchases or even cash back. As stated before, they do come at a premium cost. However, there is a segment of the population who can take complete advantage of everything that rewards credit cards can offer, including cash back savings. Credit card users can be classified into two different categories. Those who pay their balance in full and those who carry a balance. Those who plan to carry a balance should run from rewards credit cards as fast they can. On the other hand, those who pay their balance in full every month on schedule should embrace them with all their might. Many rewards credit cards on the market offer consumers the ability to get away with paying no interest charges by servicing the balance every month completely. This group of consumers will get to take advantage of all sorts of rewards offer games that will end up saving you money. Rewards credit cards these days are giving away cash back bonus awards in form of checks to your name or applied towards your balance.

There are many examples of good rewards credit cards on the market if you are in the cash position to reap their benefits. The Chase Freedom Visa with $100 cash back bonus is a good example of one of those offers. Chase is giving consumers a $100 cash back bonus for making $500 in purchases within 3 months. Most people can easily exceed $500 in expenditures within three months. This is a good way to get a discount on your next large purchase when you think about it. Like other rewards credit cards they are also giving away 0% interest on balance transfers and 0% interest on purchases. The time period for the introductory offer can vary so it is better to check with Chase for specifics before you apply. In addition, the Chase Freedom Visa $100 bonus credit card also allows you to earn 1% cash back bonus on everything that you spend when using their card.

All these great bonus offers are excellent for those who are not planning on carrying a balance every month. However if you are in the other category of user what type of credit cards should you be looking at? Those who plan to carry a balance every month should be looking at a no frills credit card that does not have any rewards features. Rewards credit cards need to make up for the rewards game costs by charging more interest and fees. No frills card offers charge less fees due to less costs involved. They might not come with all the bells and whistles that come with rewards credit card but they will be able to give you a better bang for your buck when you carry a balance. The Simmons First Visa Platinum does not come with an introductory offer but does give a very low regular interest rate that is unrivaled by many if not all rewards credit cards.

Rewards credit cards are great for those who pay the balance in full every month. Rewards credit cards are great for making purchases such as groceries and gasoline because they allow the consumer the ability to be able to earn additional savings on those purchases. Those consumers who pay the balance to their rewards credit cards every month in full will be able to take complete advantage of those types of savings. Smart consumers take advantage of rewards credit cards every day by using them for purchases such as groceries and gasoline and then paying the balance at the end of the month and getting a discount. However, if you plan to carry a balance, rewards credit cards are not your best friend. Those who plan to carry a balance should cozy up to a no frills credit card offer such as the Simmons First Visa credit card and take advantage of a rock bottom rate. On the other hand, if you are able to pay your balance every month then rewards credit cards are always your best bet.

Identity Thieves: Who They Are And How To Prevent Your Identity From Being Stolen

Crimes involving the theft ones identity are becoming more and more common these days especially as technology advances. It is estimated that more than 10 million people in the United States alone have been victims of some sort of identity theft crime. How does identity theft occur? Identity thieves can be the least suspected person on your list. Anyone from a family member to co worker or close friend can be responsible. Identity thieves can also be lurking through your trash can for information or even take your order at a restaurant. The purpose of this article is to examine the different types of identity thieves and how to protect your self.

Identity theft can come from the least likely source you would expect. If you are the type of person who has a lot of friends and or family coming over all the time do not leave your personal items such as credit cards or anything with an account number open for everyone to see. Identity thieves can easily snoop around your house and pick up information. Some people even have the ability to remember account numbers in their heads. I can remember back years ago when my cousin went to college and one of his friends saw him make a phone call with a calling card. His friend memorized the calling card number just by watching my cousin make the call. Before my cousin new it, he had calls long distance calls being charged to his account that he did not make. Do not hand your credit card out to people without making it clear that you check your statement on a regular basis. If you are going to give your friend a charge card to use to make a purchase make sure that he or she knows that you are on top of your game and they are less likely to do something behind your back. Identity thieves are always the least likely person that you would suspect.

Another place to be on the watch for identity thieves is at bars and restaurants. When you hand your credit card over to someone to hold you are at their mercy. These waiters or waitresses can easily get your account information and use it to charge something on your card. Small amounts are easy to get away with as well. The way to prevent this from happening to you is to always look over your bill before you leave the establishment. Also always look over your bill at the end of the month and look for suspicious looking charges that you did not make. If you do happen to come across something that you did not charge on your card be sure and call the issuer immediately. Look on your statement or online for a phone number that you can report fraudulent charges. Most credit card issuers will give you credit for charges that you did not make. You can then immediately change your account number and prevent the identity thieves from striking again.

Identity thieves can also be lurking through your garbage. Believe it or not many people get their identities stolen from a complete stranger who has literally gone through the garbage in order to find information that pertains to account numbers. What drives some one to do something like this you might ask yourself? Methamphetamine addicts often times resort to becoming identity thieves in order to fund their habits. Other times people are greedy and are looking for information that they can sell on black markets on the streets or even the Internet. Perhaps, someone is just down on their luck and looking for a way out. The reasons for why identity thieves are out there are numerous. You can protect yourself from dumpster divers by getting a paper shredder and shredding important documents. Make sure you shred receipts with account information such as credit cards especially before you through them away anywhere.

How can I protect myself from identity thieves?

Protecting yourself from identity thieves is much easier than you would think Do not carry important documents such as your social security card with you. Memorize your social security number and only give it out to prospective creditors or employers who need that information. It is very dangerous to be carrying your social security card with you at the same time with your drivers license. Identity thieves can make use of that information for all sorts of scams that you would not even dream of. Do not carry your birth certificate with you either as this document can be easily used to obtain a fake ID with your name on it. Once identity thieves have hold of that information they can easily open credit account in your name. Do not give out PIN numbers to just anyone. Keep that information to yourself as much as possible. Also always shred important documents before throwing them away. Identity thieves will even go through your trash can in order to find your valuable information.