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Credit Report And Correction Techniques
The three major credit bureaus, Experian, Equifax and Trans Union are similar and feature a "Credit Score", which is created from credit report data submitted to them about you. Their report includes where you live, your bill-paying habits, and...
et Your Credit Score To Soar In The Twinkling of An Eye.
Ever wonder how a creditor decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you'd be a good risk for credit cards and auto loans. More recently, credit scoring has been used to help...
Fixing Your Credit Score Doesn't Have To Cost You
Credit repair advertisements claim to guarantee a quick fix on your credit report. They promise for a fee (not always disclosed at first) to clean up your credit history so that you can qualify for a new home, car, insurance, a job, or premium...
One Solution to Bad Credit - how to beat the Credit Bureaus at their own game.
There's only one sure way of freeing yourself from the shackles of bad
credit . Create a new credit file within the credit bureau's
computer system!
The credit bureau has many identities entering their system for
the first time or leaving...
The Best Credit Card Reward: For Those Who Had Been Naughty And Nice
Think about it. If people would normally pay all their credit
card balances in time, then what is the purpose of interest
rates?
None.
And how will people get the benefits that their credit card
company claims? It is through the credit...
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ACH or Credit Cards
Most businesses accept credit cards and consider the process
fees a cost of doing business. However by implementing an ACH
payment system you can realize dramatic savings and increase
sales.
ACH refers to the Automated Clearing House and generically means
moving money electronically to and from checking and savings
accounts. An example would be a check by phone or taking
recurring payments directly from a checking account.
The MAJOR difference between ACH and credit card processing is
that a credit card transaction "captures" the merchant's funds
from the consumer and essentially guarantees payment. An ACH
transaction is a request to transfer funds. The transaction may
reject for several reasons with the most common being NSF (non
sufficient funds) or a closed account. The funds are not
guaranteed.
It is the guarantee piece that allows the credit card company to
charge a percentage of the transaction to cover the risks
involved. Typically a transaction will consist of a discount
rate, 2.5% for example and a transaction fee,
typically in the
30 cent range. This means that every $100 processed incurs about
$2.85 in merchant fees.
Contrast this with an ACH transaction. Typically there is no
discount rate just a .30 (or less) transaction fee. If you
process $25,000 per month using ACH processing will save around
$7500 per year. Certainly you will have more "failed" sales due
to ACH transaction rejects (eg NSF) but your transaction savings
will far exceed these losses. In addition you will appeal to a
much wider range of consumers. Estimates vary but MANY people do
not have credit cards or are at their limit on their cards. So
the benefits are two fold-much reduced transaction fees and a
new payment vehicle for your customers.
So consider ACH processing for your business. It will save you
money and win new customers.
About the author:
Wayne Akey has helped numerous businesses save time and money
with ACH processing. Get your free report on how your business
can benefit http://www.ach-payments.com/software/secrets.doc or
visit http://www.ach-payments.com
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