Monthly Archives: November 2018

A Closer Look At Credit Cards With Instant Approval

Indeed, the promise of getting a credit card approval “instantly” can be tempting for anyone who wants to have it, particularly for individuals with bad credit. Nevertheless, some consumers may try to apply for an “instant approval” without really knowing the qualifications of the issuer or the company. In this case, there is the risk of getting rejected or getting stuck with high interest rates and fees. To avoid such problems, consumers are advised to be cautious when applying for.

Can anyone really get a sure approval? The truth is that if you have no credit or bad credit history, your application may still get declined. So what do you need to know about instant approval credit cards? Read on the rest of the article and find out the facts that can guide you in your search for a credit card.

What does “instant approval” mean?
The phrase “instant approval” is better translated as “conditional approval” or “pre-approval”. However, many card companies use the more promising phrase for marketing purposes. But what does it really mean?

When you submit your application over the internet, the issuer will run a quick credit check and send back a response within a matter of minutes. Indeed, this method of application is quicker than going to your nearest bank to fill-out an application and waiting for days for your banks call.

However, after receiving the pre-approval email, the applicant must wait for 4 to 7 banking days for the actual process to complete. Within this period, the issuer will do further investigation on the applicant’s qualifications before sending out the credit card to the cardholder via registered post mail. Afterwards, the cardholder must first verify his/her account by calling up the issuer before the account can be activated.

Why Be Careful
One crucial factor to check is the security of the website. Before filling in your personal information, make sure that you are using the official website of the credit card company. Does the URL begin with https://? Also, if you are being directed by a credit card review website, it is better to type the complete URL of the credit card’s website rather than just click on the link provided on your screen.

Yes, applying for a credit card is certainly not a joke. It is very important to understand your chosen issuer’s Terms and Conditions to avoid getting rejected. Take note that not all credit cards with instant approval accept customers with bad credit or no credit history. If you have bad credit or if you have yet to build credit history, you need to compare your options from a list of secured credit cards that offer instant approval online.

Do comparison carefully to make sure that you will not be subjected to hidden fees, high rates or unreasonable terms. If you are applying for a secured credit card, make sure that it does not only offer instant approval but credit reporting services to the three major credit bureaus as well.

Rent A Car With Your Prepaid Debit Card

It is more convenient to rent a car when taking a vacation or traveling to a new place. Most rent-a -car companies accept a credit card for payment. However, what if you don’t own a credit card? Is there another way to pay the rent-a-car company aside from using cash?

The truth is, prepaid debit cards can be used for car rentals. Below are practical tips on how you can use a prepaid debit card for renting:

Explore your options. Some auto rental companies impose more restrictions than others. By doing your own research, you can find a company that has more lenient policies to non-credit-cardholders. It is to be expected that each branches of the same company has different sets of requirements and rules. The best way to know your options is to call up the company and make inquiries.

Be prepared to wait in line. While paying with a credit card allows instant approval, using a debit prepaid card can mean more waiting time. A credit check may be required and you will be subjected through verification procedures such as checking your ID, driver’s license, auto insurance etc. Be sure to allow some time when arriving or leaving your destination. You don’t want to miss a flight just because you had to stand in line at the car rental counter.

Load up your debit account. See to it that you have sufficient funds in your account. Aside from the cost of the rent, you will need to make a certain amount of deposit ($200 to $500) linked to your checking or savings account. This is known as the “hold” or a “block”. Take note that you will not have access to that portion of your account for 24 hours to 14 days, depending on the car rental company.

Visa or MasterCard. Most merchants who accept prepaid debit card payments require either a Visa or MasterCard logo. If your debit card is not supported by any of these two leading credit card processors, you may have a hard time finding a car rental company who will accept your transaction.

Check your credit rating. Rental car companies usually do a credit check before approving a renter. This is especially true if you do not have a credit card. This will give the company the impression that the reason why you don’t have a credit card is because you have bad credit history.

Since a car is valuable and an expensive property, rental companies will make sure that they are dealing with a trust-worthy customer. If you have bad credit or a poor score, you can get rejected. You can ask a friend or family member with good credit to rent the car and accompany you to the trip.

Prepare necessary documents. Be prepared to submit supporting documents such as a utility bill, proof of auto insurance, return airline ticket, itinerary, driver’s license, and valid IDs. The names and signatures on the documents presented must match with the name and signature on your debit card.

The Functions And Benefits Of Bin Database Credit Card

The benefits of the bin database credit card can truly not be overemphasized. The advantage of this bin database credit card is revealed when one consider the type of fast moving electronic world that we live in today. The bin database credit card is simply a database that makes it possible for stores to receive payment through credit card. This means that the bin database credit card allows stores to receive payment in the more electronic way.

Electronic Payment and Bin Database Credit Card

In the world we live today a lot of people love to pay via the electronic medium in the form of credit and debit cards than they desire to pay with cash. There are many reasons for this. One of the reasons is that it saves them the trouble and the associated fears of carrying cash around most especially huge amount of cash. Another reason is that it is more systematic, automated and computerised, so errors are minimal if not entirely absent. Both of this coupled with the fact that paying through the electronic medium is fast and easy reveal why there are so many people who will rather pay from a card than pay with cash. Card payment is very easy when you are purchasing goods online and that is why there are a lot of people who now do their shopping online. But the question will be is it possible for such sleek form of payment to be available offline at retail or wholesale stores. The answer to this is yes and the reason why this is possible is because of the bin database credit card.

What Are The Functions Of Bin Database Credit Card?

The only way that one can appreciate the functions of the bin database credit card is to first of all know what it is and how it works. The bin database credit card is a database that contains tons of credit card bin numbers. Bin numbers are actually Bank Identification Numbers that can be used to identify the account on a credit card and who the account is registered to. Therefore, just as the name implies the bin number credit card helps in identifying both the account on a credit card and the owner of the card. The bin database credit card that has tons of these bin numbers stored will be able to search through its database and match a bin number in its database to the bin number on a card that is passed through it. With this, store owners can get the details of the account on the credit card; from where they can then finalise the transaction of whatever the credit card owner wants to buy.

The Advantages of the Bin Database Credit Card

From this one can easily see the advantages of this bin database credit card. With this bin database credit card, store owners can safely accept credit card payment without fear of being defrauded. And this also means that they won’t lose a lot of customers to online shopping which already offers this form of sleek electronic payment.

We are going to Fight Back Credit Card Debts!

Three words and phrases consumers dread the most, credit card debt. Put them together and you have the blueprint for a life span of challenge, tension and aggravation. Why can it be that 3 little words can put a lot worry into the spirits of the average consumer?

Lets check out credit card debt individually, credit by itself sounds good however too much credit is the main reason why numerous Americans are over extended, discouraged and stressed out. Credit cards are pieces of plastic material that are smooth, accessible, and easy to carry around. Most of the people have two or more cards in their pocket book adding to their situation. n.

Debt just isn’t a good thing to take around. For those who combine the 3 you get credit card debt. Mix them alongside one another with excessive joblessness, high cost of gasoline, food items plus essentials and you can start to comprehend why credit card debt is affecting so many Americans. It’s easy to see why credit card corporations are foaming at the mouth area for a chance to give you credit cards. Credit cards by design and style are meant to be a effortless way to expend more revenue then you have got.

What is the solution to this dilemma? Excellent question, this is my individual suggestions to eliminate credit card debt: 1st, you need to teach yourself on the what your credit cards are really charging you. 2nd, buy only what you NEED not what you want. This is a lot easier said then carried out, even so if you can attain this you are 50% of the way. Three, really do not treat credit cards as a totally free loan. For the final two tips I highly recommend you use only one credit card and chop up the rest, and you simply use funds if feasible.

In your thoughts you would like to make the phrase credit card debt useless. By coaching yourself on the true cost of credit cards you will ultimately increase your standard of living. If the notion of credit card debt is badly affecting your life look for help. Let’s Forget Debt is a nice informational web-site to get information, ebooks and free assistance.

How To Choose Best Credit Cards In Germany

Today numerous e-commerce transactions are occurring via credit cards in Germany. Popular organizations like Deutcshe Bahn are seen co-branding credit cards that resulted in the significant growth in the issue of credit cards in the country. Most of the banks in Germany realized that credit cards are helpful revenue generator and more and more consumers are becoming aware of the benefits of such method of money transaction. Thus people are becoming very choosy and trying to opt for the best credit card in Germany as per their requirement.

Germany credit cards contains a chip that increases the security in the market and this has increased the confidence of customers as many are becoming more suspicious with debit cards that sometimes show fraud transaction. The major credit cards in Germany that are flourishing in the card market are Visa, American Express and MasterCard. According to present statistics, the people of Germany prefer to transact through cash and few shops particularly in small cities of the country refuse to accept credit cards. So on your stay in the country; you should check the doors of the shops as well as the restaurants for stickers that confirm if they accept credit cards.

The best credit card in Germany is one that offers you to withdraw money at any ATM at a very less withdrawal charges.

The credit card usage is quite low because the German economy offers very unfriendly atmosphere for such business. All German banks claims very high annual charges to customers holding such card account. Even large cities of Germany have very limited POS terminals for transactions via credit cards. The best credit card in Germany is one that can be accessed from most of the big and small cities of the country.

The best Germany credit cards can be accessed through limited shops and can make ATM withdrawals with a four-digit PIN or personal identification number.

As all German banks follows strict procedures for issuing credit cards you should keep a transparent credit history in order to get the approval faster.

Germany credit cards are of two types, the first is for personal use and the second one is for business use. Personal credit cards in Germany can be considered as the best ones when they offer popular rewards like cash back or travel benefits etc. While applying for a credit card you are highly recommended to study all its benefit to enjoy the facilities of the best credit card in Germany.

Can Everybody Obtain Financing For Commercial Trucks And Construction Equipment

Can everybody qualify for a commercial vehicle and construction equipment lease? Whether you have bad credit, little money or no down, a startup business or a business with little time in business, we are going to discuss how to get financing no matter what the situation is.

In todays economy, lenders have changed their lending requirements as times have become worse. Many Americans are struggling to stay afloat with their normal bills and salaries and wages that arent rising. Additionally, many people have been laid off or fired because of employers either cutting back or going out of business. The blue chip companies of yesterday, Ford, GM, General Electric have seen their stock prices fall to new lows. High flying companies such as Starbucks are closing old non producing stores and reevaluating their future expansion plans. Federal back government agencies such as Freddie Mac and Fanny Mae have financial problems due to eroding lending portfolios and are now being assisted by the Federal ReserveWhat does this all mean to getting financed in the commercial vehicle and construction industry.

Because banks recognize first hand that the U.S economy is in trouble, they have tightened their lending requirements in all industries. Many lending programs that were available yesterday are gone or changed dramatically that many potential customers will not qualify. Rates of interest charged by these lending institutions have jumped and more down payment money is required to start any lending program.The seasoned and startup business now must look at other alternatives in obtaining financing. Today, very few people have A+ Credit and must adjust their thinking based upon the times.

One of the unique facts that has occurred during this economic recession is the large number of repossessions and foreclosures. Banks are taking back homes, commercial trucks and heavy construction equipment back by the droves. These lending institutions must recondition these foreclosed and repossessed items and get them back into revenue income producing stream ASAP. Every day that these items that are sitting on the financial institutions books they are losing money..

Obviously as financial institutions have tightened up their lending requirements for normal business, many people will not qualify for a new loan/or lease. As lenders have absorbed huge volume of repossessions, they have come up with alternative financing to get them back into their revenue stream.

For Americans that dont have good credit, very little money available for a down payment or little or no time in business, these bank repossessions have created an opportunity for many. Prior Bankruptcies within seven years for many lenders are no longer a major stumbling block for the potential customers as long as credit has been reestablished. Today, lenders will look at Customers that have credit as low as 600 and into the 500s with special provisions. The market place today will offer customers as low as nothing down to deferred payments for 60-90 days on selected inventories.. Some lenders will even ignore the credit scores as long as the customer has healthy cash balances in the bank or a story to tell to explain past problems away. If you have terrible credit and very little money available down, some lenders will consider a financing arrangement as long as you have adequate additional collateral to put up such as other equipment, vehicles or real estate. Time in business and other mitigating factors that precluded you from a prior opportunity are now eliminated.

The types of items to be get financed in the above paragraphs are the following:

Dump trucks, garbage and water trucks, day cabs, over the road and semi trucks, boom trucks, box vans, bucket trucks, articulated trucks, concrete and cement trucks, fuel trucks, excavators, backhoes, bulldozers, forestry equipment, concrete pumps and concrete equipment, tow trucks, septic trucks, end and bottom dump trailers, flatbed and dry van trailers, etc

Many lenders have application only programs that dont require financial statements, tax returns or bank statements. These financing programs could lend as much as $250,000 for seasoned businesses. Available credit on other repo programs could run as high as $100,000 for a startup business. Some lenders may require full documentation packages which shouldnt be a hardship for a person that can now get into the financing arena.

There are many alternatives in the market place, once you understand that normal lending probably isnt your answer. In the repo market, credit is always important but not always the answer to everything. You have the
ability to shop price and financing. Startup as well as seasoned businesses have any opportunity to acquire commercial trucks, heavy equipment and commercial trailers. The down payments, financing length, regardless of age, and terms may be more flexible than you think. Startup businesses have a good opportunity to enter this market and not have to put 20-30% down, regardless of credit.

This is possibility a win-win situation both for the lender and the potential customer, whether startup or seasoned.

Happy hunting for your acquisition.

The Top Ten Characteristics Of The Best Credit Card For You

Credit cards are fast replacing cash as currency, as they offer convenience on purchases. Large amounts of cash can make you susceptible to robbery. An ATM card, on the other hand, may be useless if there is no ATM close by. Credit cards can allow you to make emergency purchases, buy the things that you want, and pay the debt later.

What is the best credit card for you? Before you scout for a credit card to meet your needs and wants, take note of the following characteristics of the best credit card.

1.The best credit card for you will have a credit limit equal to about four times the amount you can afford to pay per month. To determine this, you will need to look at your spending habits, as well as your bank account. Despite the fact that a lower credit limit will impair your freedom to spend, it can also discipline you into better spending habits.

2.The best credit card for you will have cash back guarantee incentives. A cash back incentive simply means that you will be getting about one percent back off your purchases of certain goods or services. Such cash back incentives can be useful when you purchase expensive items such as luxury goods or gas, or if you pay the electricity bill.

3.The best credit card for you will offer rewards incentives. For every specified amount of purchase, you can be awarded points. These points can be accumulated and, at certain amounts, can entitle you to gifts. Such gifts may include certificates for discounts at credit card partner establishments, appliances, or even trips abroad.

4.The best credit card for you will translate your rewards points to airline frequent flyer miles. This can be advantageous if you travel and spend a lot the more airline miles you accumulate, the more chances you have of availing of free trips.

5.The best credit card for you will impose reasonable interest rates on unpaid credit card debts. This can be important if you need to spend a lot, but earn a moderate to a low salary.

6.The best credit card for you will have a longer grace period for you to settle your payment.

7.The best credit card for you will have no annual fees on the first year of use and, if you must pay annual fees for the years thereafter, these annual fees will be much lower. In fact, some credit card companies waive the annual fee for clients who are in good credit standing.

8.The best credit card for you will have incentives the moment you get your hands on the credit card. Some credit cards can offer gifts by virtue of their being used for the first time. Such gifts may include gift certificates, discounts at restaurants, or even a free pair of shoes!

9.The best credit card for you will have twenty four hour customer service support, and will have a secure server that will ensure that your identity and credit card information are not stolen. This is important nowadays, where credit card theft runs rampant, online or offline.

10.The best credit card for you will be one that you can use in as many establishments as possible, and in as many countries as possible. The wider the reach of your credit card, the easier it will be to use, and the easier it will be for you to buy the goods and services that you like.

In short, the best credit card is one that meets your needs and wants even before you recognize what they are. When you finally get your credit card, use it wisely, and you will certainly enjoy its advantages.

Questions to Ask When Applying for a Credit Card for Bad Credit

No matter how you look at it, a credit card application can be intimidating. For the folks who have bad credit, applying for a credit card can spring up even more anxiety, simply because many are not 100% sure that they will be approved. Fortunately, signing up for a credit card for bad credit can ease all of that tension and stress, since the approval process is much more forgiving than a traditional card.

Like anything else, however, bad credit credit cards have their fair share of things that you need to look out for. That doesnt mean all cards are bad, but just because you are nearly guaranteed approval does not mean that you should jump at the first offer you see. Youve got to do your due diligence by shopping around and asking questions questions that need answered before you sign on the dotted line.

Not sure what type of questions you should be asking? Dont worry. Instead, just take a look below to see 5 of the most common things you should ask any subprime credit card provider before you decide to make the leap!

#1 Will There Be Other Fees in Addition to the Annual Fee?

When youre credit is in the dumps, getting away from an annual fee is going to be tough to do. Thats why many of the bad credit credit cards out there come loaded with one. So while you wont be able to get away from that, make sure you check to see if there are any other fees that you might have to pay (per month or per year).

For example, some credit cards will charge you one-time administrative or program fees. Others will charge you a monthly maintenance fee, whereas others will only charge you a flat annual fee. Once you sign on the dotted line, youre essentially locked into these fees, so always make sure youre checking for the fees you are expected to pay (usually found deep within the terms and conditions of the card youre applying for).

#2 What Would Your Minimum Credit Line Be?

Most subprime credit card companies will offer a minimum and maximum line of credit, all of which is based on your current credit score. On the other hand, there are companies that will cap the opening limit to a specific amount. If youre shopping around for a number of different cards, this is something that you want to pay attention to, especially if youre looking for the largest limit possible right out of the gate.

#3 How Often Can You Request a Credit Limit Increase?

Credit limit increases are great for one good reason they expand the amount of credit you have available, which lowers your utilization ratio and raises your credit score. Because of this, its essential that the card you choose comes with the opportunity to apply for periodic credit limit increases.

As a general rule of thumb, a company that will review your credit for an increase every 6 months is ideal. Companies who dont perform any reviews and keep your limit the same for as long as you hold the card are not worth the trouble.
Remember more credit limit reviews = more opportunities to boost your credit score.

#4 If You Qualify for a Credit Limit Increase, Will You Have to Pay for it?

Sometimes, getting your credit limit increased will come at a price. Some bad credit credit card lenders will be more than happy to do a review of your credit for a potential limit increase as long as youre willing to pay for it, of course.

When faced with a situation like this, your decision will ultimately boil down to what the credit limit increase can do for you. If the amount is significant enough to lower your utilization and explode your available credit, it may be a small price to pay for a dramatic boost in your credit score.

Not every credit card out there will charge for a credit limit increase, but its good to be aware of it many lenders still actively practice it. The last thing you want to do is get an increase in your limit, only to be shocked by a fee on your next statement.

#5 Are There Any Special Perks Associated with the Card?

In the world of credit cards for bad credit, finding a card with a variety of different perks is going to be hard, but they do exist. Some cards may offer you points or cash back on various purchases, helping you earn a little something in exchange for your loyalty as a customer. Others might offer discounts on travel, dining, car rentals and more.

Its not a huge deal breaker, but a card that offers certain perks over another may be worth looking into.

How To Establish Good Credit For Your Business

Nothing is more important to the health of a business than having access to credit. At some point most businesses need credit, whether it is to purchase new equipment or fund expansion projects. It is critical to understand how to build and maintain business credit because the strength of your business credit directly impacts whether future lenders will have the confidence to lend money to you.

In such a dynamic business environment, it is difficult to determine when your business will need to borrow. You should begin building a good business credit profile so that your business is in the best position to obtain credit and funding when the need arises.

Your Business Credit Profile

Similar to a personal credit report, a business credit profile is an unbiased representation of how a business manages its financial obligations. The major business credit bureaus generate your credit profile using information about your business credit, or trade credit, transactions. Personal information, such as a social security number, is not used to establish a business credit profile. Instead, credit bureaus use your business name, address and a Federal Tax Identification number (FIN), or Employee Identification Number (EIN), to create a profile completely separate from your personal credit history. Your profile contains information that is both self reported and reported by third parties, which include your creditors and lenders.

The following is the type of information reported on your profile:

Company Background: business name and time in business, address, phone, industry, number of employees, annual sales, incorporation status, etc.

Trade payment and banking data

Public records: suits, liens and judgments, UCC’s, business registrations and bankruptcy filings

Corporate financial reports

Credit investigations and interviews conducted by credit bureaus

Business creditors are not required to report trade credit transactions to credit reporting agencies. To ensure you do not miss an opportunity to build your profile, ask vendors who are issuing credit to you if they will report your company’s business transactions to credit bureaus. Your business credit profile is what lenders review to determine your credit-worthiness and the risk of extending funds to you, so it is important that your trade credit history is included in your profile.

Steps To Establish Business Credit

Whether you are starting a new company or are already operating a business, there are basic steps to establishing a business credit profile.

1. Choose Your Corporate Structure

The type of corporate structure you form your business under can have an effect on your ability to obtain business credit. Corporations and Limited Liability Corporations (LLC) provide business owners full liability protection, allowing you to build business credit completely separate from personal credit. However, corporations face double taxation – once at the entity level and again through the shareholders – whereas, LLC’s are only taxed through shareholders on dividends paid to them. Forming your business under a sole proprietorship or partnership incorporates your personal credit into your business credit, leaving you personally liable for your business debt. Here, business owners are only taxed on their share of profits, similar to the tax structure for LLC’s. It is important to carefully determine which corporate structure works best for your business and credit needs.

2. Apply for an Employer Identification Number

To identify your business as a separate entity, you must apply for an Employer Identification Number (EIN), also known as a Federal Tax Identification Number (FIN), with the IRS. This number is a unique identifier used to file corporate taxes and to determine if your business is in good standing with the state in which you are incorporated. To obtain an EIN number, submit Form SS-4 to the IRS.

3. Meet Business Credit Market Requirements

Fulfilling business credit market requirements puts your business in a better position for credit approval. Requirements are as basic as having a phone line and a business license. However, not complying with them can be very detrimental to your credit-worthiness.

4. Register Your Company With Credit Bureaus

Be sure to register your company with the major business reporting agencies, which include Dun & Bradstreet, Experian Business, and Equifax Business. When you register with Dun & Bradstreet your business is given a DNB (DUNS) number (a unique business identifier) and a password so that you can review your credit profile. You will go through the same process with the other two bureaus. To complete your credit profile with each of the credit bureaus you will need your incorporation documents and EIN number.

5. Review Credit Profile

Once you are registered with the major business credit bureaus, it is important that you pull your initial credit profile to review your company information and update any missing or incorrect data. Before you try to apply for business credit, your profile should be polished, accurate and complete.

6. Obtain Business Credit

You have taken all the steps to now open accounts under your business name. Begin with applying for small credit lines with your vendors. Remember to apply using your EIN number instead of your personal information to ensure you are establishing and reporting a business credit. Once you’ve established payment history with your open business credit lines, credit bureaus are able to review your history and rate your payment performance.

Business Paydex Score

As consumers, we understand the importance of a good personal credit score. As a business, it is just as important to maintain a strong business credit rating. Many business lenders use your business’s Paydex score to help determine whether credit should be extended to your business.

Your Paydex score is the business equivalent to a personal FICO score. Specifically, it is Dun & Bradstreet’s unique dollar-weighted numerical indicator of how a firm paid its bills over the past year, based on trade experiences report to D & B by various vendors.

Just as a FICO shows an individual’s ability to repay debt, a business Paydex score indicates a company’s debt payment performance. However, unlike a FICO score which takes into account several factors, a business Paydex score is based on one factor. It is calculated solely on how timely your payments are to creditors during the term of payment.

Paydex score ranges from 0 to 100 with higher scores indicating better payment patterns

Paydex score of 80 represents payment within agreed upon terms and is a favorable score

Most lenders will consider Paydex scores of 70 or higher

Your Paydex score directly impacts a lender’s evaluation of your business’s credit-worthiness and ability to pay back debt. Therefore, it is important to keep a favorable business credit score and take steps to improve it. The best way to raise your Paydex score is to pay your bills as early as possible, since your score is directly correlated to how timely you repay debt.

To raise your score above 80, you must pay ahead of the agreed upon terms. It is also important to keep business credit lines active. Similar to personal credit, ongoing credit activity will help sustain a higher Paydex score.

How To Maintain A Good Credit Profile

Once you’ve established your business credit, it’s critical to keep your profile in the best shape as possible. Remember, your credit profile is what portrays your credit-worthiness to potential lenders. Luckily there are simple ways to maintain a strong profile.

Make timely payments – Be sure you are paying within the agreed upon terms you have set with your creditors. Your payment history has the most powerful impact on your credit profile and credit score.

Monitor your credit profile regularly – Review your business profile periodically to spot and address any inaccuracies. Confirm that your payment performance is accurate and be sure to remove any accounts that are falsely reported. You should also make sure that all trade activities and relationships are represented. If you have been making prompt payments to a vendor and it is not reported, contact that vendor to ensure the account gets included in your profile.

Keep your debt financing down – The more your company borrows to run your business, the higher the risk to the lender and more difficult it is for you to secure credit. Therefore, it is important to be selective about the debt you incur and to keep your debt financing low. Manage your personal credit responsibly – Although your personal and business credit are completely separate, depending on the lender, your history may be reviewed to help determine your company’s borrowing potential.


Your business credit plays a very critical role in the success of your company. How you manage your profile strongly impacts your company’s borrowing potential. Managing your profile responsibly makes it easier to get approved for funds and gives you the opportunity to invest in the growth of your business. I hope you found this article to be helpful; it is similar to the articles I write for the equipment leasing company I work for, Balboa Capital.

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What Should You Do If Your Credit Card Shows A Negative Balance

Under normal circumstances, your credit card balance will appear as a positive number, and you must pay that balance, or at least the minimum payment due. If you see a negative balance on your credit card statement, you may find it confusing as to whether you owe the lender or the lender owes you.

Credit Balance

If you see a negative number on your credit card statement, it indicates that you have a negative balance and that no payment is currently due. In fact, that negative balance indicates that the credit card company owes you money. A number of things cause negative balances, including a successful chargeback for shoddy merchandise or an overpayment on your previous statement.

No Payment Due

When you have a credit balance on your credit card, you do not have to pay the bill, since you do not owe any money. You should still receive a credit card statement, however, since it is important to track your balance and decide what to do with it. Once you know that you have a credit balance in place, you can decide whether to leave that balance in place and make new charges or request a refund for the negative balance.

Offset New Charges

If you have a credit balance on your account, you can continue to make new purchases with the same card. Each new purchase goes against the negative balance and reduces it, until that negative balance is gone and you once again owe money on the card. It is a good idea to track your purchases carefully and make sure you can pay the entire balance on the card when it comes due.

Making a Formal Refund Request

If you have a credit balance on your credit card account, you can request a refund of that balance by calling the credit card issuer or sending it a letter. In some cases the issuer will automatically issue you a check for the credit balance after a number of billing cycles, but for other issuers you will have to formally request that payment, either by calling the issuer or submitting a letter. If you have a credit balance on your card and do not plan to use it frequently, it is a good idea to close out that balance by requesting a refund check.