4 Tips For Reducing Credit Card Processing Fees

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                                     4 Tips For Reducing Credit Card Processing Fees
                                                               By Frank Lucer

    Whether you operate an offline retail business or sell products exclusively online, processing your
customers' credit cards has a major influence on your sales volume. If you don't provide your
customers with the option to use their credit cards, they'll go elsewhere to buy products. The problem
is that fees associated with processing those transactions can range from reasonable to exorbitant;
many merchants struggle to survive despite enjoying healthy sales. Below, we'll provide 4 tips for
lowering your credit card processing fees.

#1 - Ask Your Provider To Lower The Monthly Minimum

 Merchant account providers often include a contractual clause that stipulates a monthly minimum
charge. If your sales fail to generate the minimum, you're contractually obligated to pay the difference.
If your company is generating a high enough volume of sales to meet the minimum, this isn't an issue.
However, if you find that you're forced to pay the difference each month, contact your merchant
account provider. Ask them to waive the fee. If they refuse, there are plenty of other providers that will
be happy to negotiate.

#2 - Consider Two Separate Merchant Accounts

 At first, this may seem counterintuitive; maintaining two merchant accounts seems like an
unnecessary expense. But consider this: when you process transactions in which your customer's
credit card is not present, your merchant account provider assumes more risk is involved. After all, the
purchase can be disputed later resulting in a potential loss for the provider. To protect themselves,
many of them will downgrade the transaction (charging a higher rate in the process) and apply an
additional fee to your account.

 By maintaining two merchant accounts, you can keep such transactions separate. That is, you can
process payments in which your customer presents a credit card with one account while handling "not
present" transactions with the other account. In doing so, you'll be able to limit the effect of being
charged a higher processing rate to the merchant account that has been downgraded.

 This strategy will not be appropriate for everyone, of course. But, review the types of transactions
you're processing to determine whether it's worthwhile for your circumstances.

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#3 - Shop Around

 If you have been using the same provider for awhile, they'll likely have raised their rates at some point.
A lot of small retail business owners simply pay the higher rates without knowing whether they're
competitive. Shop around a few times a year to keep track of the industry. You might stumble upon a
provider who can offer a much more flexible plan with a lower cost.

#4 - Investigate Transaction Downgrades

 Ideally, each of the credit card transactions you're processing will be charged the most favorable rate
(known as the "Qualified rate"). However, when a transaction is downgraded - which can happen for a
variety of reasons - your merchant account provider applies a higher rate. Review each of the
statements that you receive from your provider. If you notice a high number of downgraded (referred to
as "Mid-Qualified" or "Non-Qualified") transactions, find out the reasons.

 Many small retailers fail to notice it's happening, much less investigate why. Often, small changes in
the way you process your customers' credit card payments can have an enormous impact on the extra
fees you're paying for downgraded transactions. But, you need to investigate the reasons first.

 There are several ways to potentially lower the payment processing fees you're paying each month.
The first step to take is to call your merchant account provider. They can review your account to
determine whether changes can be made to better accommodate your business. If they're unable to do
so, it may be time to consider alternatives.

This article is brought to you by PaySimple, a leading provider of merchant account and ACH
processing services. Check us out online at http://www.PaySimple.com

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                                                           Credit Card Application
                                                                By Lawrence Fine

 Applying for credit cards is a normal routine for many people around the globe. However, if you have
never applied for a credit card before, then there are many things you need to know about them.

Here are major points to consider:

1) Using credit cards for any type of transaction is very convenient. When you are applying for any
credit card, the first task you need to do is search for credit cards that are suitable for you. Once you
get the perfect credit card offer, you have to fill a credit card application form.

2) When you are filling out a credit card application, you will need to have some basic information
handy. You will need your social security number, driver's license information and your address. You
also need to submit your date of birth. Once you submit your credit card application, a card company or
bank will review it.

3) After submission of the credit card application, there is a process for approval or rejection of the
application. This process has three steps data i.e. capturing, checking and verification. There are two
ways of credit card application, paper based form application or online credit card application. Paper
based application will take less than a week, while online credit card application's further online
processing is done in less than two minutes most often today. Then if your credit card application is
sanctioned ,you can get your credit card within two weeks.

4) When you complete an online credit card application, you must remember that not all websites
present on internet are secured. Sites with SSL encryption system are safe for online credit card
applications. But do not submit any personal information through sites you are not sure about.

5) You can submit a credit card application for either a single credit card or multiple cards. But having
multiple accounts could lower your credit score.

6) While you are filling out a credit card application you must look after following important things. First
read all terms and conditions mentioned in the contract. If you are filling out a credit card application
online, there is a link for terms and conditions; read that very carefully. If you are not careful then later
you may have to pay application fees, processing fees or some other hidden charges. So be very
careful while filling out credit card applications.

7) Once you have submitted your credit card application, credit card companies or banks do further
processing. There are manual and automated credit card application processing systems. Financial
agencies and banks use manual processing for handling credit card applications, billing, payment and
other functions.

8) Automated systems of credit card application processing are designed to automate the basic
application process and sanctioning process for credit card companies. Common automated
processing includes handling of paper-based or web based credit card applications, data capture and
validation, safe online reviews and approval processing and more.

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9) Your credit card rating is the most significant part of credit card application processing. Learn more
by contacting your local banker or learning online from financial sites.

In summary, credit card applications are available on internet and many sales executive also provide
them ofline. Filling out credit card application is easy; you just have to fill out several fields like name,
address, annual income, occupation etc. If you fill out all required fields, then there is very less chance
of rejection of the credit card application.

Visit, subscribe to and bookmark: http://applyforacreditcardshop.com for your credit card needs! And
keep up with the latest credit card tips to help yourself, your friends, family and others.

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