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Credit cards can be a powerful financial tool. If used correctly, a credit card can help you obtain a high credit score and a good credit report. A high credit score and a good credit report can help you get better credit cards, favorable loan terms, and lower loan interest rates. Obtaining these things will save you money by way of lower interest payments and will enable you to obtain higher credit limits. Having higher credit limits could help you obtain good debt so that you can start profiting from high capital investments like real estate.

In order to obtain these benefits from proper credit card use, you have to use credit cards properly. Unfortunately, many people do not use credit cards properly and thus, become deeply in debt. As a result, this debt causes many people to experience financial difficulty and thus, these people tend to default on their debt payments. Payment defaults cause many credit score and credit report problems. Thus, in order to avoid these problems, you have to educate yourself about proper credit card use.

Educating yourself about proper credit card use is not always easy because many of us obtain credit at a critical age. I obtained my first credit card when I was 18 years old. I had just entered my second semester of college and was presented with a credit card offer from one of those student run, credit card kiosks. I will admit that I knew nothing about credit cards or about credit card use and thus, I obtained a credit card with an annual fee and a terrible interest rate.

As I became more educated about credit cards and credit card use, I noticed that all of the credit cards that were offered on my college campus were pretty terrible cards. All had a terrible interest rate and most had an annual fee. I believe that these types of cards are offered to college students because most do not know the difference between a “good” credit card and a “bad” credit card. Most college students probably believe that an interest rate of 16% or more is low and that an annual fee of $25 or more is normal. As such, many credit card companies experience high profits from marketing bad credit cards to uneducated (in regard to credit cards) youths.

The good news is that these cards can be avoided. If you have already obtained one of these cards, you should refrain from using it and look for another card that has no annual fee and a low fixed interest rate. You do not want to close the account on the “bad” credit card because this will lower your credit score. However, you want to refrain from using the card so that you do not waste money on high interest rates.

Avoid obtaining “bad” credits cards by actually reading the offer presented by these student run, credit card kiosks. If the offer is not good, do not obtain the credit card. There are too many credit card options that you can pursue (regardless of your age and income level) for you to be sucked into a bad credit card offer. Do not become a victim of credit card ignorance. Avoid the bad credit cards and find the card that is right for you.

Credit cards come in all shapes and sizes, with all sorts of perks and even your own photograph on the card to get you to use credit. In my opinion (and at onepoint I have 13 credit cards and a heck of a lot of debt I could not pay off) one credit card for emergencies is all you need. That said, let’s look at the types of credit cards out there…

AMERICAN EXPRESS

The traditional American Express card requires you to pay off the balance in full each month. If you tend to have spending issues like me, this may be the best type of card for you. It teaches you to use your credit wisely, and basically, if you don’t pay then your credit is cut off. It’s a good thing to have for emergencies, but the downfall is if you didn’t have the money to begin with to cover the emergency, you may not have it at the end of the month either.

VISA/MASTERCARD/DISCOVER

These are the gold standard in credit cards and now come with some many perks programs, bangs and whistles (like having your photo on the card) that it’s hard to find someone who doesn’t have at least one of these credit cards. The nice thing about these cards is that they are very competitive so if you shop around you can get good rates – that way if your emergency is one like a major car expense that you can’t pay off the same month you incur it, at least your interest rates won’t totally put you in the poor house.

STORE CREDIT CARDS

Just about every department store you can think of has it’s own credit card. They lure you in with percentage off deals, but what they don’t tell you is that typically they have the highest interest rates of any credit card (typically 20% or more). Unless you are a huge brand shopper at one of these stores and the perks will actually save you money, instead of cause you to spend more, my advice is to avoid these at all costs. They will suck you in and bleed you dry.

DEBIT VISA/MASTERCARD

Perhaps the wisest thing banks have done for the consumer is create the debit visa and mastercard, which directly draws funds from your checking account, but can be used anywhere visa and mastercard are accepted. If you want to experiment with a credit card and see if your spending style can handle it, this is the best way to do so. Just like the American Express, if you exceed your limit, you are cut off – and you’ll most likely incur some pricey overdraft fees.

So, my advice is if you must get a credit card, get only one, and use it wisely, for essential, non-perishable items and emergencies only. Otherwise you may end up in the boat I was in during my early twneties – 13 credit cards, more debt that I could make in three years salary and having to beg, and barter in order to get lessened payments and a shoddy credit rating to boot. It took me almost 5 years to recover a good credit rating. Be smarter than I was, just get one credit card – and only use it if you have an unforseen expense you cannot cover with your cash, savings, or checking.

For many young adults, the thought of building a credit history and worrying about a credit score seems unusual. To them the only real draw to a student credit card is the idea of getting the things they want or need with just the swipe of a card. It is also a method for getting the things they need while away at school, such as paying rent, purchasing books, paying tuition, and purchasing items such as food and clothes. Student credit cards are a great way to establish credit and to build a credit history, but they need to be used wisely.

The Credit Score

College students may not realize it, but student credit cards are often the first step toward establishing a credit score. A credit score is a number determined by the credit bureaus. Each of the three credit bureaus has its own method for accumulating credit information and for developing a credit score, but they are generally approximately the same. This number is used by lending institutions and other businesses to determine whether or not you are a financial risk. Even phone companies often look at the credit score to decide if they will grant you a phone line.

The lower your credit score, the greater risk you are to the eyes of businesses. Certain financial decisions have an impact on your credit score and will raise it or lower it. Having very little credit history, for example, reflects negatively on your score. The same is true for failure to pay off outstanding debts or to pay bills on time. Credit cards for college students can go a long way toward establishing a good credit score if handled wisely.

Building a Relationship

Studies have shown that those who get student credit cards tend to keep the credit card well into their 20s. This is advantageous to the credit card company because it means a long term relationship has been established with the customer. This can also be good for the cardholder. Maintaining a long term relationship with a lending institution reflects positively on your credit score if you have made all of you payments on time and have handled your financial responsibilities in a positive manner.

Building Your Credit History and Improving Your Credit Score

Once a young adult obtains a student credit card, he or she should definitely use it as often as possible. In fact, it is a good idea to make all of your purchases with your student credit card. First of all, most credit cards provide benefits such as purchase protection and extended warranties when used to make purchases. Secondly, making purchases with a student credit card is far more convenient than using cash. Finally, and perhaps most importantly, the money you borrow is reflected on your credit report. The more money you can show that you have borrowed – and paid back on time – the higher your credit score will be.

This leads to the next point. A student credit card does very little good if you only spend with it, but never pay it back. If you fail to pay back the money you borrowed with your student credit card or if you make your payments late, you will hurt your credit score. Therefore, you need to be sure to handle your student credit card responsibly.

What to Look For

Most student credit cards report transactions to the three major credit bureaus, but this isn’t always the truth. This is particularly true with secured student credit cards. Therefore, you should make sure the credit card does report to the credit bureaus. Otherwise, it will not help in establishing your credit because it will go unnoticed.

Have you ever dreamed about having a gold credit card? This credit card, that shows your financial status and good credit history, appeared in 1960s and since that time was a reflection of the financial status of its owner.
There is no doubt that gold credit cards have many advantages. The main advantages are high cash withdraw limits and higher credit limits that their owners can enjoy. Gold cards offer 0% interest up to 9 months when transferring your balance to one credit issuer to another. Gold card holders will also feel really special with great rewards promotion packages. If you owe gold cash back credit card – you will get a higher percentage rate of cash back return or if you owe a frequent flyer card, you will get more air miles, etc.
Gold credit cards will also give its owners better travel perks such as automatic upgrades when traveling.
Finally, gold credit card is very prestigious to owe as credit card companies will be more attentive to you and will have much more trust in you.
But the reality is that gold credit cards are not so perfect. To get approved for this card you really should have good and stable income as well as high credit score – about 700. The main reason for that are high annual membership fees. The credit limit on gold credit card will be set not only on your annual income and ability to repay the balance on your card, but it will also be based on your previous credit history. So even you have high income, but your credit history was not so perfect in the past, there is a possibility that your credit limit will be even lower than on standard credit card.
Although most gold credit card owners feel really confident about themselves and their financial status, the statistics shows that almost anyone who owes an average salary can apply for a gold credit card now. Most of the consumers now think that gold credit cards carry the same functions as silver and even standard credit cards. The only difference is very high membership fees that apply to gold credit card owners.
With all said it is up to you whether you want to owe a gold credit card or not. It depends on your personal features of character – if you financial portray is important to you, there is no doubt that your gold credit card is a sign of your financial security! Even if you don’t care much about your image still gold credits cards is an attractive option for you as they appear to be very beneficial for you.
On the other hand, many people simply don’t find gold credit cards to be the best deals for them and prefer standard credit offers. It is always up to you to choose the best card for yourself from the variety of credit card offers on the market.

Credit card companies make an inordinate amount of money in interest. Their investments will return as much as 24.99% annually. And with recent changes in laws that make it more difficult for individuals to file bankruptcy, the credit card companies have added assurance that they will receive that interest. Where can I find an investment like that!

What you can do is make sure you’re not paying that exorbitant interest. Transferring balances between credit cards can dramatically reduce the interest you pay.

Meet my friend, Owen Lesdett. Here is his credit card debt situation:

Number of credit cards: 3 (A, B, & C)

Debt on each card: $7,500.00 ($22,500.000 total debt)

Interest rate on each card: 18.00% APR

Interest accrued monthly on each card: $112.50

Minimum monthly payment on each card: $150.00 ($450.00 total per month)

Owen places a call to credit card A to ask what transfer offers they have available. They offer him a 3.99% interest rate on a transferred balance for the life of the transfer (until it is paid off). This transfer will cost him a $75.00 fee. Owen has enough open credit to transfer the entire $7,500.00 balance from credit card B, so he makes his move. Is it worth it? Although Owen has only moved his money, here is what he has saved:

Previous monthly interest on card B: $112.50/month.

New monthly interest on transferred portion: $24.94/month.

Owen is now saving $87.56 per month in interest on the same amount of debt. The first month’s savings alone covers the $75.00 transfer fee. Over a year of lowered interest, Owen can save over $1,000.00!

Besides that savings, if Owen timed the transfer right making it before the minimum payment is due on card B he also gets to “skip” a $150.00 minimum payment on card B. This is because the transfer appears as a payment, even though he has really paid nothing. This holds true for partial balance transfers also.

Now, because credit card companies don’t want to lose your business (read: your money), here are some possible consequences that Owen may face:

In order to prevent individuals from continuing to transfer their debt, credit card company B may reduce Owen’s credit limit. As long as Owen doesn’t plan to rack up new debt, this is not a problem.

Card B may also deny Owen transfers back to the card. This might be a significant “punishment” if Owen only had the 3.99% rate for a brief period of time, or if he had no available credit on other cards.

Finally, here are important questions that Owen asked before transferring his balance to card A:

+ What rate are you offering?

+ How long will that rate stay in effect?

+ If it is a temporary enticement, to what rate will it eventually revert?

+ How much is the transfer fee?

+ Are there any other fees involved?

+ What will my new minimum payment be?

+ To what will my interest rate change if I am late on a payment?

Remember, credit card companies change strategies to try to close “loopholes” that reduce their profit. They have a lot of ammunition in their arsenal; credit line limits, late fees, transfer fees, etc. Customers have to know the rules, play by those rules… and then mindfully and creatively adjust their own finances to create a better, low-cost outcome for themselves.

So is it worth transferring balances from one credit card to another? Owen would certainly give you a resounding yes!

PAEDOPHILE HYSTERIA A CASE IN POINT

We seem to have a natural inclination to believe whatever we read in the papers, nowadays, even though common sense should tell us otherwise. We have only to pick up several different editions of the same daily newspaper to see the glaring inconsistencies.

‘CHILD SEX FIEND IS LOCKED AWAY’

The news item glares out at me from the top of the pile at the local newsagents. How should that headline make you feel, mother of four children? I ask myself… safer? It might have done a year or so ago but not now. Not me. I am choking back the tears as I pay for my copy. And why is that? Because the man in the paper is the man I love. There is his face plastered all over the front page. A face I love – not the face of a fiend! He even managed a faint smile for the photographers as they leaped out at him outside the courthouse. Oh yes, and I gave three members of the press my business card after the sentencing in a last desperate attempt to save him: ‘If you want the real truth phone me, ‘I said. But none of them did. Lies sell more papers, you see.

I know the man I love is not a paedophile and my children know too. But we can do nothing to clear his name. He denied all charges but now he has been found guilty by a jury who were presented with nothing but lies, we will be considered ‘In denial’ too. He is a lovely, caring, sensitive man who has been falsely accused and wrongly convicted. So now I am thinking that this must surely be happening to innocent men all over the country. I will never believe what I read in the papers ever again because now I know the real truth.

I’d call it Media sensationalism… that’s what it’s all about. The press fuel a moral panic by letting mothers think there is a paedophile lurking on every street corner. There he is! He’s the modern day bogeyman waiting at the school gates to lure your children away; a charming, manipulative Pied Piper.

But believe me if one day the police and the social services come knocking on your door unannounced to take away your husband, your son, your brother, you will think again. You will react differently when it happens to someone you love.

So there is one mother weeping now for the man she loves who is serving a virtual life sentence for crimes he didn’t commit just because he had the misfortune to know malicious liars who were greedy for compensation.

But the other mothers in the locality who read the papers will feel safer now… another pervert behind bars. They will feel secure in the knowledge that justice has been done. Will it occur to them when they collect their kids from school that the man in the paper could perhaps be innocent? No of course they won’t. It would never have occurred to me when I read similar articles in the papers this time last year.

It seems that in all walks of life the all mighty dollar seems to wrangle aspirations and take goals captive in a way that dreams cannot. In the same way a passionate musician sells out to producers and songwriters and revolutionary business people quiet their ideas in fear of their bosses, journalists are at the will of the ratings. The movie Broadcast News exposes the compromises that are often made in the field of journalism for the sake of ratings. Similarly, Ken Lindner expresses his frustrations in a poem. Both mediums articulate very real qualities that exist in the news business. Lindner’s poem and the movie both reveal frustrations with sensational versus newsworthy stories, morals, and image within the business of broadcast journalism.

Lindner laments in his poem: “Entertaining and titillating have become the norm; We don’t seek the truth and we rarely inform.” Jane expresses similar frustrations regarding the content of the news. Her speech and the video of the dominoes reveal her sentiments. Unfortunately, both opinions are true. Softer news sells better than what is often considered confusing, irrelevant stories with, for example, political or economic subjects. And, unfortunately, the news is at the will of what sells. Jane highlights an episode that the director had to make a choice between a dominoes video and a political video. The director opted for the dominoes, yielding to the more visually stimulating, fun, and ratings producing content.

A passing conversation at Jane’s network reveals the moral dilemma that newscasters face. The conversation concerned the prospect of airing video of someone being executed. The journalists in the conversation unanimously agreed without hesitation that they would run the video. Lindner also confronts this topic. His poem states: “So we sell sex and violence, and provocative teases; We’ll air almost anything, as long as it pleases.” Lindner is commenting on the fact that morals are degraded, content is compromised, and the story is sacrificed for the glam. It almost sounds like a modern version of yellow journalism. A lowering of personal morals for any reason is something that one should balk at doing, especially when the result of moral decisions are going to be broadcasted to millions of people.

In Broadcast News, the issue of image is confronted on several occasions. Tom, while good looking, is not an intellectually qualified journalist while Aaron has all of the credentials necessary to be a successful anchorman, but doesn’t have the image. Just as sex and violence sells, so does image, just ask the advertising executives at Sprite. Lindner touches on this subject when he mentions wasting one’s career, potential, and ultimately time. Aaron’s journalistic potential and time were sacrificed because he wasn’t born with the same looks that Tom was. Unfortunately we live in a society that values such qualities, and those values are very obvious in the world of news broadcasting.

Though these qualities of broadcast journalism are not positive, they can be viewed as the means to an end. The news business is news, but it is also a business, and reporting less than newsworthy stories in order to achieve desirable ratings often satisfies the business aspect of journalism. That said, the problem is not with the journalists, it’s with the public: those who control the ratings. Are ratings worth questioning your passion, morals, and aspirations? Don’t ask me, I’m not a professional journalist, but from where I sit, nothing is worth that compromise.

Over the last several years, many credit card issuers have begun to issue credit cards that offer travel rewards to the people that are requesting them. These travel rewards credit cards offer points for certain types of purchases that can be redeemed at a later date for discounted rates or travel vouchers for hotels, airfare, cruises, or rental cars. Many people wonder if the rewards offered by the credit cards are worth applying for the credit cards or if the rewards are only a ploy to get you to use the credit card because it will take a ridiculously long time to earn any rewards.

The Features Of The Credit Cards

Most travel rewards credit cards are amazingly similar in their features except for one thing and that is where the points earned on the credit cards can be redeemed. Each of the credit cards will have similar interest rates for individuals with similar credit scores and most of them have no annual fee for using the credit card. Because these credit cards are generally offered to people with good credit scores, there are no account maintenance fees or account set up fees for the credit cards. The other fees that are charged to the credit card, such as over limit fees, late payment fees, and balance transfer fees, will typically conform to industry standards.

Different types of travel rewards credit cards will offer different point levels for different purchases. Most of these credit cards will offer higher point levels for travel purchases, such as charging an airline ticket to the credit card, but will also offer points for general purchases as well, typically a point per dollar spent. The amount of time that it takes to earn a reward with the points from the credit card will depend on how much you are charging to the credit card each month, how much you are paying off on the credit card each month, and what types of items you are charging to the credit card.

Redeeming Rewards

One of the biggest questions about whether a travel rewards credit card is worth applying for is how long would it take to earn a desirable reward from the points credited to the credit card. For people that travel often and place a great deal of travel related charges on the credit card, they will earn points fairly quickly and be able to qualify for some of the better rewards. People that use the credit card for more general purposes or do not place large charges on the credit card on a regular basis will find that it will take a very long time to earn enough points for the rewards and may become frustrated waiting for their points to accumulate. If the person believes that the rewards are worth the amount that they will need to use the card, then applying for a travel rewards credit card may be a good idea for them because they can earn free travel and save money from purchases that they would have made anyway.

Credit Card Rewards Can Be A Desirable Credit Card Feature

Credit card rewards are excellent incentives for using your credit card, but are only beneficial if you will actually use the rewards. Credit card rewards are a wonderful way to get excited about using your credit card, however credit card rewards are only useful if they offer rewards that people want, so credit card holders should choose a reward that matches their lifestyle.

Credit card reward programs were born sometime around 1986. Credit card companies offer these rewards programs as a way of promoting their particular credit cards to increase their usage. Credit card interest rates have begun to rise overall, which is another reason why lenders are trying to entice new customers with their fabulous rewards programs. Credit card holders who have the discipline to control credit card purchases can have benefits from credit card rewards, credit card rebates and other benefits.

Rewards cards tend to have higher rates and fees to help pay for the program, experts said. Rewards programs have to be turned up a notch, and become so amazing, so absolutely unforgettable that consumers can’t forget them and will apply for and use their card more than the other seven in their wallets when they go shopping. Rewards programs often have limitations, meaning once you reach the ceiling you are no longer eligible for the rewards program benefits- information they don’t normally disclose in the credit card offers you receive in the mail. Rewards in the form of discounts on good and services are also available. Rewards are typically worth 1 percent of card balances.

Cash back rewards are perhaps the best kind of reward you can receive. Cash can also be rewarded in specific increments once you charge a certain amount of money, like a $25 reward when you charge $2,500. Cash back rewards are the most universal. Cash back credit card rewards are sent to you either as a check or as a credit to your account.

For the unwary, reward programs can have traps. That is not to suggest you should avoid rewards programs. You certainly have plenty of rewards programs from which to choose. Look for programs that fit the way you shop and have rewards you will realistically be able to attain. These rewards programs are growing in popularity, and surveys and statistics show that rewards programs affect people’s decisions about which credit card or cards they choose to apply for, as well as which one of their existing cards they use for a particular purchase.

There are also ways for credit cardholders to maximize the power of credit card rewards programs they are already part of, and enjoy additional savings. Currently, the trend in credit card rewards programs appears to be creating cards that offer very specific rewards to cater to what people are doing with their lives. You should make sure that you have a usage pattern that strengthens your credit rating as well as gather credit card rewards and credit card rebates and other incentives provided by the card issuers. Select your cards with the features you need, credit card rebates or credit card rewards are one factor, no annual fee, low interest, low intro apr could be others. The best way to make the most of your credit card rewards is by simply taking advantage of them.

In my last column I discussed the process of credit card enabling your brick-and-mortar business. I pointed out that research has shown that accepting credit cards can help increase revenue and enhance cash flow. I also pointed out that you may have to look beyond your local bank for help in getting things set up. This week we will look at setting up an online payment system for your business website. If you think hooking up a brick-and-mortar location with a credit card system stymies most bankers, try asking them how to do it on your website.

If you’ll recall, the question that spurred this topic came from a lady who went to her local bank for help in setting up a credit card acceptance system for her business and her banker wasn’t very knowledgeable on the subject. I pointed out that her banker’s ignorance of the subject probably wasn’t a reflection on his skills as a banker, but a reflection on the compartmentalization of the credit card aspect of banking.

The fact is, most banks can provide you with the merchant account needed to accept credit card payments, but beyond that have little to do with the process. Even larger banks may only have a single person on staff who is tasked as the “credit card expert” and if that person ever goes on vacation, you’re pretty much out of luck (voice of experience talking here, folks).

I have helped many clients set up online credit card processing systems and more than once I’ve had to sit down with the bank issuing the merchant account and educate them on how online payment systems work. Don’t believe me? This is a direct quote (here’s the Bible, here’s my hand) from the bank employee who was in charge of processing internet merchant account applications, “When someone pays online how do they swipe the credit card in their computer…”

Much like a brick and mortar credit card processing system, you will need the following to accept credit cards on your website: (1) an electronic shopping cart system that allows the customer to select products and checkout when ready; (2) a payment gateway service to get approval or declination of the credit card; (3) a credit card processor who will process the transaction; and (4) an internet merchant account issued by an acquiring bank in which processed funds are deposited.

We covered most of these elements last week. Here’s a quick refresher for those who missed the basics, then we’ll talk about a shopping cart system.

Payment Gateway Service: The payment gateway service comes into play when a customer submits their credit card information to the webpage form. Think of the gateway service as the middleman in the process. The website’s shopping cart checkout system electronically submits the credit card to the gateway service who then routes the information to the processor for approval. Depending on the reply from the processor, the gateway service will return an approval or declination for the purchase. This entire process takes just seconds to perform.

Credit Card Processor: The credit card processor is an electronic data center that processes the credit card transactions coming from the gateway company, ensures that the charge is valid, then settles the funds in your merchant account.

Internet Merchant Account: An Internet merchant account is a bank or financial institution account in which funds from online sales are deposited. Merchant accounts are usually issued by banks who are associated with the major credit card services like Visa and MasterCard. Be aware that many banks will not grant merchant accounts to Internet merchants as they are often categorized as “high risk ventures.” This policy varies widely and in the end, the granting of the merchant account will come down to economics from the bank’s point of view. If the bank sees even the smallest iota of risk, you will not be granted the account. Fortunately, the growth of online sales has given rise to an entire industry of merchant service bureaus that will grant you a merchant account and everything else you need to accept online payments. The fees are usually higher, but it’s better than not having an online payment system at all.

Shopping Cart System. To accept online payments you must have what’s called a “shopping cart system” that allows your customer to choose and purchase products. Adding a shopping cart system to your website can be simple or complex, cheap or very expensive. It depends on the product you’re selling and the options you wish to offer your customers. As in everything, you get what you pay for.

A shopping cart system typically consists of three components: a product catalog, the shopping cart, and a checkout/payment system. The product catalog is your inventory component and displays the items you have for sale on the website. The checkout/payment system is the part of the program that allows your customers to “add this to my cart,” and the checkout/ payment system is the component that allows the customer to checkout and pay for their purchase.

There is a wide variety of shopping cart software on the market and the price is dependent on the features you want. Shopping cart systems range from simple HTML form insertions to full- blown catalog and inventory systems like those used by Amazon or Dell.

You can spend from zero to tens of thousands of dollars. Some of them you can set up on your site yourself while others should be set up by someone who knows what they’re doing.

You can get a free Paypal.com shopping cart system which is the most simplistic in nature, but the easiest to implement. Using Paypal also alleviates the need for a bank merchant account because everything is handled by Paypal, for a fee of course. You insert HTML forms into your website code and when an item is purchased.

There are also numerous online companies who will assist in the setup of your ecommerce / credit card system. These companies charge several hundred to several thousand dollars for their services, so it would be wise for you to have an idea of exactly what you need before calling them into play.

Customer submits credit card. The site sends the transaction to the gateway. The gateway sends the info to the processor. The processor contacts the issuing bank of the customers credit card. The issuing bank returns the result of the processor. The processor routs the result to the gate. The gateway passes the result to the website. The website displays the result.

One thing to remember when setting up an ecommerce system on your site is this: online it’s all about security and privacy. Though online credit card processing has been around for years there are still many people who are uncomfortable giving their credit card number online. These are the same folks that do not hesitate to give their credit card number over the phone to a complete stranger or hand their credit card to a waiter who disappears with it for ten minutes. Online credit card processing is much less susceptible to fraud and abuse than either telephone processing or giving it to a waiter.

Eighty-five percent of internet users surveys said that a lack of security made them uncomfortable sending credit card information over the Web.

It’s up to you to instill a sense of security and make the customer comfortable shoving their card into their computer.

Here’s to your success.

Tim Knox tim@dropshipwholesale.net For information on starting your own online or eBay business, visit http://www.dropshipwholesale.net