Tag: need

I Need Your Help With Ubersuggest

It’s been more than a year since I launched the “new”
Ubersuggest.

And over the last 12 months, I have made a lot of progress.

Just as a quick recap: Ubersuggest went from a basic keyword research tool to now containing backlink data, rank tracking, content ideas, site audit reports, and many more features.

If you haven’t played with Ubersuggest in the past few months, give it a try. Type in a URL or a keyword and click around.

The reason I am asking you to give it a try is that I need your help to determine what I should develop next so I can help you improve your traffic and rankings even more.

But before we get into that, let me first tell you what I am releasing in the next few months.

Upcoming features

So, let’s break it down by section as I am making a lot of
small changes that should not only improve the data, but also the usability of
the product.

Funny enough, there will be changes to every section of the
tool.

Keyword research

Over the next month, the keyword overview is going to change in which I will start to tell you demographic data. You’ll see what percentage of the searches are done by males or females as well as the average age range of a searcher.

You’ll also see what portion of the clicks for any given keyword go to SEO results, ads, or result in no clicks.

I am also going to break searches down by mobile versus
desktop.

More accurate data

Another big change that is happening, and this one won’t be
visual, is all of the data will become much more accurate.

From traffic estimations for a domain, to even keywords,
you’ll start seeing a more accurate database.

For example, when I look at all of the keywords
neilpatel.com ranks for, a lot of them are junk keywords that don’t drive much
traffic.

Sure, the report still provides value as a lot of the keywords are good and can provide good SEO insights, but with more accurate data it should make your job easier.

New backlinking data

Another feature that I am excited about is the new backlink charts.

I’m adding historical link data over time as well as a
snapshot of daily new and lost links.

In addition to that, you’ll start seeing more data on anchor text or link distribution.

Alerts

A huge problem with Ubersuggest is that you have to continually come back to get value. In the next month or so, you will start seeing email alerts that will tell you what’s happening with your site and what you should fix.

The overall purpose is for you to not have to come to
Ubersuggest to figure out what you need to fix.

Usability fixes

The biggest problem with Ubersuggest is people don’t know
what to do with the data or how to improve their rankings.

This will be fixed in the upcoming months.

From an education center and demos to tutorials and more, we are creating a guided path so you can see better gains in your search traffic.

Alright, so now that you know what I am working on, I now need your help to figure out what I should do next.

Where do you want me to take Ubersuggest?

I have a few options for you, but I am not sure what you
want me to do with the tool.

Sure, I know you want more free features and I will do that,
but what’s going to provide you with the biggest gains?

Here are some options…

  1. Automated SEO – would you like me to focus my efforts on automating your SEO? All you would have to do is add a javascript to your site like Google Analytics and it would automate 40 to 50% of your SEO tasks. It would even adjust your code for you automatically no matter what CMS you use. Again, it would ONLY automate 50% or so of your tasks, I can’t automate all 100%… yet.
  2. Ad management – do you want an easy to use ad management system? From Facebook and Google to even smaller sites like Quora, there are tons of ad opportunities. I could create an easy to use system that helps you find all of the ad opportunities and optimize/manage them for you in an automated way.
  3. Free email marketing – I know there are tools like Mailchimp that are great, but what if I made it so you can send an unlimited amount of emails to an unlimited number of contacts for free?
  4. Chrome extension – what if I took extensions out there from tools like Moz, Ahrefs, Keywords Everywhere, and SEMrush and combined the best features and made it free?
  5. Or do you have any better ideas? I am open to anything.

Conclusion

I can take Ubersuggest in many different directions. There isn’t really a right or wrong approach and, wherever I take it, I will make sure that the product is still really easy to use.

The question is, what do you want me to focus on first?

That’s all that matters in the grand scheme of things because I am building this for you.

So, if you can, leave a comment below letting me know where you want me to take Ubersuggest. It can be one of the options above, or if you have a better idea, I am open to that as well.

The post I Need Your Help With Ubersuggest appeared first on Neil Patel.

Everything You Need to Know About Accounts Receivables Financing 

… And What to Do for Funding Beyond Accounts Receivables Financing 

Accounts receivables financing is not something that you hear a lot about.  There is a ton of information out there about loans, credit cards, and even lines of credit.  No one really talks about financing your receivables though. That is, until you start trying to figure out how to get cash fast.  If you need fast cash and you have open receivables, then A/R financing may be just what you need.

Don’t confuse accounts receivables financing with accounts receivables selling.  They are two different things used for two different purposes. For example, selling your receivables serves as more of a means of getting older receivables off the books. 

The buyer pays a premium and then tries to collect the full value of the receivable.  The business owner never gets any more money than the original selling price. You get cash fast and you get the receivables off the books. 

Accounts receivable financing is different.  You can do it in a couple of ways. The first is, you can simply use the invoices as security for a loan.  The other, is invoice factoring. This is a mix of selling and financing. In factoring, the factoring company pays you a portion of the value of the invoices.  Then, they collect what they can, hopefully full value. They then keep their set, agreed upon fee, and send you the difference. 

Hit the jackpot with our best webinar and its trustworthy list of seven vendors who can help you build business credit.

This means that the amount you get when you first factor the invoices may not be all you get. You will still get the difference in the amount collected less what you have already received and the factoring fee. 

What Are the Benefits of Accounts Receivables Financing?

Accounts receivables financing is not the best choice for every business in every situation, but there are some times when it truly is the best option.  Done correctly, there can be many benefits. For example:

  • Faster, less complicated process than what is typical with other types of financing
  • Accounts receivables financing premiums are often less than the interest rates and fees with traditional financing. 
  • In some cases, it is easier to qualify for A/R financing because lenders look at the quality of your invoices rather than your credit history.  
  • You get your money faster.
  • Accounts receivables financing can happen on an ongoing basis so as to bridge the cash gaps due to slow collections. 

How Do You Qualify for Accounts Receivables Financing? 

While all financing companies have their own qualification requirements, these can give you an idea of the minimum most require to be eligible for accounts receivable financing. 

  • They must, of course, issue invoices to customers
  • There must typically be at least $50,000 in annual revenue 
  • Usually they require that a business has been in operation for at least 6 months
  • Customers must be creditworthy, meaning they are likely to pay their invoices

It is important to remember that, while there are some instances where the financing company will take on the task of collecting on the invoices, the debt is still the responsibility of the business owner receiving the financing. Regardless of who is doing the collecting, if the invoice is not paid, the business owner is still responsible for the debt to the lender. 

Where Can You Get Accounts Receivables Financing?

There are many lenders that offer this service.  Here are just a few. 

1st Commercial Credit

This lender has been around for 15 years.  They offer invoice financing starting at .69% to 1.59% or Prime +2 and an administration fee.  1st Commercial Credit boasts a fast approval process, and they do not require financial statements for financing up to $350,000.  You can set up your accounts receivables financing with them in as little as 3 to 5 days. 

New Century Financial 

New Century Financial offers invoice financing up to 90% of the original invoice.  They claim streamlined, fast processing with no hidden fees. 

Blue Elephant Financing

This company works with businesses that have government contracts.  They offer account receivables financing related to FEMA, HUD, and other government contracts. Blue Elephant Financing prides itself on an easy application process and fast turnaround. 

Capital Plus Construction Services

Capital Plus offers accounts receivables financing related to construction contracts specifically.

Star Funding

accounts receivables financing Credit Suite

This company will not only do accounts receivables financing, but they will also help you collect on open invoices. This is a major plus for a lot of businesses. If you need or want collection help along with financing, Star Funding if for you.  They also offer accounts receivable management services.

Seven Oaks Capital Associates

Seven Oaks also offers general accounts receivables financing services along with collection and management services.  In addition, they can help you obtain credit information on those to whom you extend credit.

Of course there are hundreds of companies out there that offer these services.  These are just a few to get you started. 

A Word About Merchant Cash Advances

If you need a similar option but do not have a ton of open invoices, you might look into getting a merchant cash advance. This is similar to factoring invoices, but it works based on average credit card sales. Basically, you get an advance on your projected credit card sales. 

Here’s how it works.  First, you will submit information about your average daily credit card sales.  Then, the cash advance company will tell you how much you are eligible for based on that average.  

What Else Should You Be Doing? 

Now, the allure for many small businesses is that this type of financing doesn’t require great credit.  In fact, if your invoices are solid, the factoring company may not even do a credit check. If you have bad credit or no credit,  that is a good thing. However, you need to think beyond the right now and consider the future.

Working to build business credit is vital because this type of financing will not work for every need.  

Every Small Business Needs To Establish Business Credit

This is credit in a small business’s name. It doesn’t connect to an entrepreneur’s consumer credit. Here is why you need it: 

  • Since small business credit is distinct from individual, it helps to safeguard an entrepreneur’s personal assets, in the event of court action or business insolvency.
  • With two distinct credit scores, an entrepreneur can get two different cards from the same vendor. This effectively doubles buying power.
  • Even startup companies can do this. Visiting a bank for a business loan can be a recipe for disappointment. But building company credit, when done correctly, is a plan for success.
  • Consumer credit scores depend on payments but also various other elements like credit use percentages. For small business credit, the scores really merely hinge on whether a small business pays its debts punctually.

So where do you start?  How do you establish business credit?  It’s a process that has to be done in the right order.  You have to actually work toward it. It doesn’t happen on its own.

How to Establish Business Credit

Accomplishing the steps out of sequence leads to repetitive denials. No one can start at the top with business credit. For example, you can’t start with retail or cash credit from your bank. If you do, you’ll get a denial 100% of the time.

Hit the jackpot with our best webinar and its trustworthy list of seven vendors who can help you build business credit.

Start with Business Fundability

A small business has to be fundable to credit issuers and vendors. This includes a number of things.  The first, is that a business needs its own phone number and address separate from the owner. They each need to be listed with the directories.  Do that here.  It will also need an EIN.  This is similar to a social security number, only for a business rather than an individual.  You can get one free from irs.gov.

Then, the business has to be incorporated.  A sole proprietorship or partnership won’t work for building business credit.  Whether you choose to organize as a corporation, S-corp, or LLC will depend on the level of liability protection you want and on your budget.  Any of them work for business credit building. 

Another necessary step for your business to appear fundable is to have a separate business bank account.  Do not mingle personal and business expenses in the same account. Not only does that not work for building business credit, but it makes for a tangled mess come tax time.  

Lastly, and surprisingly to some business owners, your business needs a professional website.  Along with this goes an email address that is separate from the owners. The website needs to look professional, which probably means hiring a professional to do it.  A lender will be much less likely to take you seriously as a business if you have a poorly put together website in today’s business world. The email address needs to have the same URL as the website and not be from a free service such as Gmail or Yahoo.  Also, the website needs to have website hosting from a paid supplier such as GoDaddy. Free hosting doesn’t work for this situation.

Get Accounts Reporting

Start at the D&B web site and obtain a free D-U-N-S number. A D-U-N-S number is how D&B gets a company into their system, to produce a PAYDEX score. If there is no D-U-N-S number, then there is no record and no PAYDEX score.

After you do this, you can start establishing tradelines that will report to the credit reporting agencies (CRAs).  These are part of the vendor credit tier. They are starter vendors that will extend invoices with net terms without a credit check.  When they report your payments, your credit score will begin to grow. 

Find out our picks for the easiest starter vendors to start with here. 

Retail Credit Tier

Once you have several vendor trade accounts reporting to at least one of the CRAs, then you can move onto the retail credit tier. These are companies like Office Depot, Staples, and Lowes.  The reason you have to go through the vendor credit tier first, before applying for these store cards, is that they need to see a PAYDEX score to grant approval. 

For example, Lowe’s likes to see a PAYDEX of 78.  The only way to get this is to start in the vendor credit tier. 

As you handle credit in the retail credit tier responsibly by making on time payments, your credit score will grow even more. 

Fleet Credit Tier

After there are several accounts from the retail credit tier reporting on-time payments, your score should be strong enough to apply for cards in the fleet credit tier. These are businesses such as BP and Conoco. Use this credit to purchase fuel, and to fix, and maintain vehicles

One such example is Shell. They report to D&B and Business Experian. They need to see a PAYDEX Score of 78 or more and a 411 small business telephone listing. This is another reason why a business contact listing is important.

Cash Credit Tier

Once you work through the vendor credit tier, the retail credit tier, and the fleet credit tier, your score should be stable enough to apply for cards in the cash credit tier. These are companies like Visa and MasterCard, but not related to a specific retailer as in the retail credit tier.

Monitor Your Business Credit

As you go through the tiers, and even after you are beyond the cash credit tier, you need to know what is happening with your credit. Make sure it is being reported and take care of any inaccuracies as soon as you can. 

Hit the jackpot with our best webinar and its trustworthy list of seven vendors who can help you build business credit.

We can help you monitor business credit at Experian and D&B for 90% less than it would cost you at the CRAs. See: www.creditsuite.com/monitoring.

Accounts Receivable Financing Can Be a Great Option, But Don’t Stop There

Whether you are looking into accounts receivable financing because it is the best option for your needs or because it is the only option due to credit issues, you can work on building business credit in the meantime.  Personal credit is just not sufficient for business expenses.  

Our tried and true method for establishing and building business credit will ensure you have strong business credit.  Then, your financing is only limited by you needs, and not by your options.   

The post Everything You Need to Know About Accounts Receivables Financing  appeared first on Credit Suite.

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Business Credit Card Rates: Everything You Might Need to Pay

Find Out What Hidden Business Credit Card Rates to Look For and How to Avoid Them

Credit cards are a fact of life for most small businesses.  They get a bad rap, but used properly they can be hugely beneficial.  It is a precarious walk on a balance beam, however, to balance the benefits versus the cost.  When you think of business credit card rates, the first thing that comes to mind is probably interest rates.  These are, of course, one of the largest costs of credit cards.  They are also widely variable, ranging from as low as 0% for an introductory rate to almost 30% in some cases.

There are many more costs that can be associated with these cards however.  So many in fact, that many business owners do not even realize the business credit card rates they are paying.  It can be frustrating to continually make payments yet never see a corresponding decrease in the balance.  We dug in to find out everything you need to know about the business credit card rates you know, those you don’t know, and how to handle or avoid each one.

Business Credit Card Rates: The Devil You Know

Here are some common business credit card rates you are probably familiar with, and some tips on how to save on each.

Check out our professional research and score the best business credit cards for your business.

Interest

This is a given with any credit card, and most likely the number one cost most associate with them. The only way to avoid it is to pay off the entire balance every month.  Short of that, it cannot be eliminated.  It can be reduced however.

First, keep your personal and business credit score strong.  The better the score, the lower the interest rate options available to you.  Then, shop around. Just look for the cards with the best rates.  Be aware however, many lower rates are promotional only, so they will go up after a set period of time.

Annual Fees

When it comes to business credit card rates, this one is no secret either.  Many cards charge an annual fee for the administration of the account. Most often they are associated with cards that earn rewards such as miles or points that can be converted to gift cards, airline miles, or cash back.  The key to keeping annual fee costs to a minimum is to simply use cards that do not charge this fee.

If, however, you find a card with a fee that has rewards that you will use to the point that you recover the cost of the fee plus some, then the benefit may outweigh that cost.  There could be other benefits associated with a card that charges a fee as well.  A cost-benefit analysis based on your specific business situation is the only way to know if it is worth it.

Late Fees

This one is self-explanatory. Late fees are charged to your card when you pay after the due date.  The best way to avoid them is to not pay late.  However, know that if you do pay late and it is a first offense, you may be able to have that fee removed.  You have to call and ask.  It doesn’t always work, but sometimes it does for a first offender.

Hidden Business Credit Card Rates

Now for the part you are really wondering about.  What are you paying that you do not realize?  How much could you save if you knew about these things and either avoided them or chose cards that did not charge them?  Here are the hidden costs to look for, and how to reduce or avoid them all together.

Balance Transfer Fees

These are fees on balances that you transfer from another card.  Typically this would be done in an effort to get a lower, promotional interest rate on the balance transfer.  Usually the fee is a percentage of the amount being transferred with some minimum.  So if, for example, you were to transfer $3,000 and the transfer fee was 3%, your balance on the new card would increase by $3,090.

The only way to avoid this is to not do a balance transfer.  Of course, there could be cases where the savings with the promotional rate makes it worth the fee.  That will have to be determined on an individual basis.

Cash Advance Fees

These are just as they sound, fees paid on cash advance funds.  Similar to balance transfer fees, they are typically a percentage of the advance.  Cash advances can come in the form of cash advance checks that you simply write and deposit into your account, or funds that you get from an ATM with your credit card and a cash advance PIN.  If you do not do cash advances with your credit card, you do not have to worry about this fee.

Reward Redemption Fees

Did you know that sometimes you have to pay a fee on rewards that you earn?  The credit card companies say that this is to pay for the processing of the rewards.  Avoid these fees by reading the fine print in the rewards section before you apply for the card.  Most do not even know that these fees exist, and sometimes they end up costing more than the rewards are even worth.

Reward Recovery Fees

This fee is closely related to late fees.  Some cards revoke rewards earned during the month if you are late on your payment for that month.  They then charge a fee to reinstate those rewards.  To avoid this fee, be sure to pay on time.

Inactivity fees and Account Closure Fees

The inactivity fee is assessed after you go a certain length of time without any activity on the card. Most often that amount of time is one year.  The first thing you have to do to avoid this fee is know which cards have if. After you determine that, figure out the minimum you must spend in a year to avoid the fee.  Then, either make certain you spend that amount, or cancel the card.

Beware however, because some cards do charge a fee for closing accounts.

Payment Protection

Most cards offer a payment protection plan.  This is basically insurance that will cover your payments in the event you become ill or unemployed.  While is sounds great, it can be quite expensive and add up quickly. Avoid it by either opting out on the front end, or canceling it if you already have it and do not want to pay it.

Paper Statement

The push to save the environment is a noble one, and the credit card companies are doing their part.  One way they are doing this is by charging a fee for paper statements.  You can opt in for electronic statements and avoid paying the fee.

Foreign Transactions

Did you know that if you use your credit card to pay for goods from a company that is not located in the United States, you may have to pay a fee for that transaction?  This is true even if you never leave the country, and even if you do not know the other company is foreign.  Read the fine print about fees before making any purchases from companies you are not familiar with to determine if this will be an issue.

Taxes on Rewards

While this isn’t exactly a credit card fee, it is a potential hidden cost of using credit cards.  There are times when, depending on how rewards are earned and how they are used, that you may have to pay taxes on them.  Find out more about this and how to avoid it here.

Check out our professional research and score the best business credit cards for your business.

Here’s the big key to avoiding unexpected fees and costs.  Know what to look for.  Now that you have a list of the most common hidden credit card costs, you can be diligent to pay close attention on the front end and not apply for any credit cards that charge fees you do not want to pay.

No one wants to pay more than they have to.  On the other hand, some of these fees may be worth it to you to pay depending on the benefit associated with it and whether or not your specific business could benefit.  For example, if you have a chronic health issue, it may be worth it to you to pay for the payment protection plan.

Why Business Credit Card Rates May Be Worth It: Benefits of Business Credit Cards

While all these costs can make it seem that credit cards are the devil, and though they do get a bad rap, there are actually plenty of benefits to using business credit cards. Here are just a few:

  • Build business credit
  • Finance business needs without the hassle of a loan, including:
    • Taking advantage of special bulk pricing
    • Equipment maintenance and repair
    • Working capital
    • Unexpected, or expected, cash gaps
  • Use rewards to reduce costs

Of course, we all know credit can get out of hand, but used properly and with the proper attention to business credit card rates, they can be an amazing tool for your business.

How Can They Help Build Business Credit?

Not only can these cards help you build business credit, they are actually vital to the process.  Of course, regardless of the business credit card rates, you will have to have business credit to get business credit.  That is why you start with vendors in the vendor credit tier first.  These vendors will give you net 30 terms on invoices and report those payments to the credit reporting agencies, without a credit check.  After you have enough of these accounts reporting, you will have enough business credit to apply for your first business credit cards.

You’ll start with store cards.  Cards tied to retail stores such as Best Buy, Office Depot, and Lowes will approve accounts with very new business credit earned from accounts in the vendor credit tier.  They will also report payments to the credit agencies, which will further grow your score

After enough of these are reporting, you can apply for cards in the fleet credit tier and the cash credit tier.  As these cards report your on-time payments, your score will only grow stronger.  This will also mean you start getting offers from cards with more favorable business credit card rates, such as lower interest. Find out more about the credit tiers and building business credit using credit cards in each one here.

Side Note: Hidden Business Credit Card Rates When Accepting Credit Cards

Just as there are hidden fees when it comes to using credit cards in the course of your business, there are also hidden rates on the other side.  If you accept cards as payment in the course of your business, be aware of these little-known costs.

Manual entry fee

Did you know that it costs your business more in credit card processing fees if you manually enter the credit card number rather than swiping it?  It’s because of the increased security risk.  If at all possible, make sure customers swipe instead of type in the number.

Check out our professional research and score the best business credit cards for your business.

Below Limit Costs

Okay so this isn’t an “extra” fee per se, but it is a definite cost.  It is entirely possible that you can lose money on a credit card sale if it doesn’t hit a certain dollar amount.  This is because the business credit card rate on processing that transaction may actually be more than the profit earned from it.

That’s why you see many businesses, such as donut shops and other businesses with frequent low dollar amount purchases, require a minimum purchase if you intend to use a card.  This not only avoids the problem of losing money on low dollar amount purchases due to processing fees, but it can increase profits when you consider the number of people that do not carry cash.

Stop Paying Business Credit Card Rates You Do Not Know About

It is impossible to find a card with no unsavory fees.  The key is to determine which ones are worth it to you to pay.  Then, apply only for cards that charge business credit card rates you are willing to pay.  The credit card industry is fiercely competitive, and if your business credit score is solid, you can have your pick of the cards that will work best for you.

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Business Credit Card Rates: Everything You Might Need to Pay

Find Out What Hidden Business Credit Card Rates to Look For and How to Avoid Them

Credit cards are a fact of life for most small businesses.  They get a bad rap, but used properly they can be hugely beneficial.  It is a precarious walk on a balance beam, however, to balance the benefits versus the cost.  When you think of business credit card rates, the first thing that comes to mind is probably interest rates.  These are, of course, one of the largest costs of credit cards.  They are also widely variable, ranging from as low as 0% for an introductory rate to almost 30% in some cases.

There are many more costs that can be associated with these cards however.  So many in fact, that many business owners do not even realize the business credit card rates they are paying.  It can be frustrating to continually make payments yet never see a corresponding decrease in the balance.  We dug in to find out everything you need to know about the business credit card rates you know, those you don’t know, and how to handle or avoid each one.

Business Credit Card Rates: The Devil You Know

Here are some common business credit card rates you are probably familiar with, and some tips on how to save on each.

Check out our professional research and score the best business credit cards for your business.

Interest

This is a given with any credit card, and most likely the number one cost most associate with them. The only way to avoid it is to pay off the entire balance every month.  Short of that, it cannot be eliminated.  It can be reduced however.

First, keep your personal and business credit score strong.  The better the score, the lower the interest rate options available to you.  Then, shop around. Just look for the cards with the best rates.  Be aware however, many lower rates are promotional only, so they will go up after a set period of time.

Annual Fees

When it comes to business credit card rates, this one is no secret either.  Many cards charge an annual fee for the administration of the account. Most often they are associated with cards that earn rewards such as miles or points that can be converted to gift cards, airline miles, or cash back.  The key to keeping annual fee costs to a minimum is to simply use cards that do not charge this fee.

If, however, you find a card with a fee that has rewards that you will use to the point that you recover the cost of the fee plus some, then the benefit may outweigh that cost.  There could be other benefits associated with a card that charges a fee as well.  A cost-benefit analysis based on your specific business situation is the only way to know if it is worth it.

Late Fees

This one is self-explanatory. Late fees are charged to your card when you pay after the due date.  The best way to avoid them is to not pay late.  However, know that if you do pay late and it is a first offense, you may be able to have that fee removed.  You have to call and ask.  It doesn’t always work, but sometimes it does for a first offender.

Hidden Business Credit Card Rates

Now for the part you are really wondering about.  What are you paying that you do not realize?  How much could you save if you knew about these things and either avoided them or chose cards that did not charge them?  Here are the hidden costs to look for, and how to reduce or avoid them all together.

Balance Transfer Fees

These are fees on balances that you transfer from another card.  Typically this would be done in an effort to get a lower, promotional interest rate on the balance transfer.  Usually the fee is a percentage of the amount being transferred with some minimum.  So if, for example, you were to transfer $3,000 and the transfer fee was 3%, your balance on the new card would increase by $3,090.

The only way to avoid this is to not do a balance transfer.  Of course, there could be cases where the savings with the promotional rate makes it worth the fee.  That will have to be determined on an individual basis.

Cash Advance Fees

These are just as they sound, fees paid on cash advance funds.  Similar to balance transfer fees, they are typically a percentage of the advance.  Cash advances can come in the form of cash advance checks that you simply write and deposit into your account, or funds that you get from an ATM with your credit card and a cash advance PIN.  If you do not do cash advances with your credit card, you do not have to worry about this fee.

Reward Redemption Fees

Did you know that sometimes you have to pay a fee on rewards that you earn?  The credit card companies say that this is to pay for the processing of the rewards.  Avoid these fees by reading the fine print in the rewards section before you apply for the card.  Most do not even know that these fees exist, and sometimes they end up costing more than the rewards are even worth.

Reward Recovery Fees

This fee is closely related to late fees.  Some cards revoke rewards earned during the month if you are late on your payment for that month.  They then charge a fee to reinstate those rewards.  To avoid this fee, be sure to pay on time.

business credit card rates Credit Suite2

Inactivity fees and Account Closure Fees

The inactivity fee is assessed after you go a certain length of time without any activity on the card. Most often that amount of time is one year.  The first thing you have to do to avoid this fee is know which cards have if. After you determine that, figure out the minimum you must spend in a year to avoid the fee.  Then, either make certain you spend that amount, or cancel the card.

Beware however, because some cards do charge a fee for closing accounts.

Payment Protection

Most cards offer a payment protection plan.  This is basically insurance that will cover your payments in the event you become ill or unemployed.  While is sounds great, it can be quite expensive and add up quickly. Avoid it by either opting out on the front end, or canceling it if you already have it and do not want to pay it.

Paper Statement

The push to save the environment is a noble one, and the credit card companies are doing their part.  One way they are doing this is by charging a fee for paper statements.  You can opt in for electronic statements and avoid paying the fee.

Foreign Transactions

Did you know that if you use your credit card to pay for goods from a company that is not located in the United States, you may have to pay a fee for that transaction?  This is true even if you never leave the country, and even if you do not know the other company is foreign.  Read the fine print about fees before making any purchases from companies you are not familiar with to determine if this will be an issue.

Taxes on Rewards

While this isn’t exactly a credit card fee, it is a potential hidden cost of using credit cards.  There are times when, depending on how rewards are earned and how they are used, that you may have to pay taxes on them.  Find out more about this and how to avoid it here.

Check out our professional research and score the best business credit cards for your business.

Here’s the big key to avoiding unexpected fees and costs.  Know what to look for.  Now that you have a list of the most common hidden credit card costs, you can be diligent to pay close attention on the front end and not apply for any credit cards that charge fees you do not want to pay.

No one wants to pay more than they have to.  On the other hand, some of these fees may be worth it to you to pay depending on the benefit associated with it and whether or not your specific business could benefit.  For example, if you have a chronic health issue, it may be worth it to you to pay for the payment protection plan.

Why Business Credit Card Rates May Be Worth It: Benefits of Business Credit Cards

While all these costs can make it seem that credit cards are the devil, and though they do get a bad rap, there are actually plenty of benefits to using business credit cards. Here are just a few:

  • Build business credit
  • Finance business needs without the hassle of a loan, including:
    • Taking advantage of special bulk pricing
    • Equipment maintenance and repair
    • Working capital
    • Unexpected, or expected, cash gaps
  • Use rewards to reduce costs

Of course, we all know credit can get out of hand, but used properly and with the proper attention to business credit card rates, they can be an amazing tool for your business.

How Can They Help Build Business Credit?

Not only can these cards help you build business credit, they are actually vital to the process.  Of course, regardless of the business credit card rates, you will have to have business credit to get business credit.  That is why you start with vendors in the vendor credit tier first.  These vendors will give you net 30 terms on invoices and report those payments to the credit reporting agencies, without a credit check.  After you have enough of these accounts reporting, you will have enough business credit to apply for your first business credit cards.

You’ll start with store cards.  Cards tied to retail stores such as Best Buy, Office Depot, and Lowes will approve accounts with very new business credit earned from accounts in the vendor credit tier.  They will also report payments to the credit agencies, which will further grow your score

After enough of these are reporting, you can apply for cards in the fleet credit tier and the cash credit tier.  As these cards report your on-time payments, your score will only grow stronger.  This will also mean you start getting offers from cards with more favorable business credit card rates, such as lower interest. Find out more about the credit tiers and building business credit using credit cards in each one here.

Side Note: Hidden Business Credit Card Rates When Accepting Credit Cards

Just as there are hidden fees when it comes to using credit cards in the course of your business, there are also hidden rates on the other side.  If you accept cards as payment in the course of your business, be aware of these little-known costs.

Manual entry fee

Did you know that it costs your business more in credit card processing fees if you manually enter the credit card number rather than swiping it?  It’s because of the increased security risk.  If at all possible, make sure customers swipe instead of type in the number.

Check out our professional research and score the best business credit cards for your business.

Below Limit Costs

Okay so this isn’t an “extra” fee per se, but it is a definite cost.  It is entirely possible that you can lose money on a credit card sale if it doesn’t hit a certain dollar amount.  This is because the business credit card rate on processing that transaction may actually be more than the profit earned from it.

That’s why you see many businesses, such as donut shops and other businesses with frequent low dollar amount purchases, require a minimum purchase if you intend to use a card.  This not only avoids the problem of losing money on low dollar amount purchases due to processing fees, but it can increase profits when you consider the number of people that do not carry cash.

Stop Paying Business Credit Card Rates You Do Not Know About

It is impossible to find a card with no unsavory fees.  The key is to determine which ones are worth it to you to pay.  Then, apply only for cards that charge business credit card rates you are willing to pay.  The credit card industry is fiercely competitive, and if your business credit score is solid, you can have your pick of the cards that will work best for you.

The post Business Credit Card Rates: Everything You Might Need to Pay appeared first on Credit Suite.

Business Credit Card Rates: Everything You Might Need to Pay

Find Out What Hidden Business Credit Card Rates to Look For and How to Avoid Them

Credit cards are a fact of life for most small businesses.  They get a bad rap, but used properly they can be hugely beneficial.  It is a precarious walk on a balance beam, however, to balance the benefits versus the cost.  When you think of business credit card rates, the first thing that comes to mind is probably interest rates.  These are, of course, one of the largest costs of credit cards.  They are also widely variable, ranging from as low as 0% for an introductory rate to almost 30% in some cases.

There are many more costs that can be associated with these cards however.  So many in fact, that many business owners do not even realize the business credit card rates they are paying.  It can be frustrating to continually make payments yet never see a corresponding decrease in the balance.  We dug in to find out everything you need to know about the business credit card rates you know, those you don’t know, and how to handle or avoid each one.

Business Credit Card Rates: The Devil You Know

Here are some common business credit card rates you are probably familiar with, and some tips on how to save on each.

Check out our professional research and score the best business credit cards for your business.

Interest

This is a given with any credit card, and most likely the number one cost most associate with them. The only way to avoid it is to pay off the entire balance every month.  Short of that, it cannot be eliminated.  It can be reduced however.

First, keep your personal and business credit score strong.  The better the score, the lower the interest rate options available to you.  Then, shop around. Just look for the cards with the best rates.  Be aware however, many lower rates are promotional only, so they will go up after a set period of time.

Annual Fees

When it comes to business credit card rates, this one is no secret either.  Many cards charge an annual fee for the administration of the account. Most often they are associated with cards that earn rewards such as miles or points that can be converted to gift cards, airline miles, or cash back.  The key to keeping annual fee costs to a minimum is to simply use cards that do not charge this fee.

If, however, you find a card with a fee that has rewards that you will use to the point that you recover the cost of the fee plus some, then the benefit may outweigh that cost.  There could be other benefits associated with a card that charges a fee as well.  A cost-benefit analysis based on your specific business situation is the only way to know if it is worth it.

Late Fees

This one is self-explanatory. Late fees are charged to your card when you pay after the due date.  The best way to avoid them is to not pay late.  However, know that if you do pay late and it is a first offense, you may be able to have that fee removed.  You have to call and ask.  It doesn’t always work, but sometimes it does for a first offender.

Hidden Business Credit Card Rates

Now for the part you are really wondering about.  What are you paying that you do not realize?  How much could you save if you knew about these things and either avoided them or chose cards that did not charge them?  Here are the hidden costs to look for, and how to reduce or avoid them all together.

Balance Transfer Fees

These are fees on balances that you transfer from another card.  Typically this would be done in an effort to get a lower, promotional interest rate on the balance transfer.  Usually the fee is a percentage of the amount being transferred with some minimum.  So if, for example, you were to transfer $3,000 and the transfer fee was 3%, your balance on the new card would increase by $3,090.

The only way to avoid this is to not do a balance transfer.  Of course, there could be cases where the savings with the promotional rate makes it worth the fee.  That will have to be determined on an individual basis.

Cash Advance Fees

These are just as they sound, fees paid on cash advance funds.  Similar to balance transfer fees, they are typically a percentage of the advance.  Cash advances can come in the form of cash advance checks that you simply write and deposit into your account, or funds that you get from an ATM with your credit card and a cash advance PIN.  If you do not do cash advances with your credit card, you do not have to worry about this fee.

Reward Redemption Fees

Did you know that sometimes you have to pay a fee on rewards that you earn?  The credit card companies say that this is to pay for the processing of the rewards.  Avoid these fees by reading the fine print in the rewards section before you apply for the card.  Most do not even know that these fees exist, and sometimes they end up costing more than the rewards are even worth.

Reward Recovery Fees

This fee is closely related to late fees.  Some cards revoke rewards earned during the month if you are late on your payment for that month.  They then charge a fee to reinstate those rewards.  To avoid this fee, be sure to pay on time.

Inactivity fees and Account Closure Fees

The inactivity fee is assessed after you go a certain length of time without any activity on the card. Most often that amount of time is one year.  The first thing you have to do to avoid this fee is know which cards have if. After you determine that, figure out the minimum you must spend in a year to avoid the fee.  Then, either make certain you spend that amount, or cancel the card.

Beware however, because some cards do charge a fee for closing accounts.

Payment Protection

Most cards offer a payment protection plan.  This is basically insurance that will cover your payments in the event you become ill or unemployed.  While is sounds great, it can be quite expensive and add up quickly. Avoid it by either opting out on the front end, or canceling it if you already have it and do not want to pay it.

Paper Statement

The push to save the environment is a noble one, and the credit card companies are doing their part.  One way they are doing this is by charging a fee for paper statements.  You can opt in for electronic statements and avoid paying the fee.

Foreign Transactions

Did you know that if you use your credit card to pay for goods from a company that is not located in the United States, you may have to pay a fee for that transaction?  This is true even if you never leave the country, and even if you do not know the other company is foreign.  Read the fine print about fees before making any purchases from companies you are not familiar with to determine if this will be an issue.

Taxes on Rewards

While this isn’t exactly a credit card fee, it is a potential hidden cost of using credit cards.  There are times when, depending on how rewards are earned and how they are used, that you may have to pay taxes on them.  Find out more about this and how to avoid it here.

Check out our professional research and score the best business credit cards for your business.

Here’s the big key to avoiding unexpected fees and costs.  Know what to look for.  Now that you have a list of the most common hidden credit card costs, you can be diligent to pay close attention on the front end and not apply for any credit cards that charge fees you do not want to pay.

No one wants to pay more than they have to.  On the other hand, some of these fees may be worth it to you to pay depending on the benefit associated with it and whether or not your specific business could benefit.  For example, if you have a chronic health issue, it may be worth it to you to pay for the payment protection plan.

Why Business Credit Card Rates May Be Worth It: Benefits of Business Credit Cards

While all these costs can make it seem that credit cards are the devil, and though they do get a bad rap, there are actually plenty of benefits to using business credit cards. Here are just a few:

  • Build business credit
  • Finance business needs without the hassle of a loan, including:
    • Taking advantage of special bulk pricing
    • Equipment maintenance and repair
    • Working capital
    • Unexpected, or expected, cash gaps
  • Use rewards to reduce costs

Of course, we all know credit can get out of hand, but used properly and with the proper attention to business credit card rates, they can be an amazing tool for your business.

How Can They Help Build Business Credit?

Not only can these cards help you build business credit, they are actually vital to the process.  Of course, regardless of the business credit card rates, you will have to have business credit to get business credit.  That is why you start with vendors in the vendor credit tier first.  These vendors will give you net 30 terms on invoices and report those payments to the credit reporting agencies, without a credit check.  After you have enough of these accounts reporting, you will have enough business credit to apply for your first business credit cards.

You’ll start with store cards.  Cards tied to retail stores such as Best Buy, Office Depot, and Lowes will approve accounts with very new business credit earned from accounts in the vendor credit tier.  They will also report payments to the credit agencies, which will further grow your score

After enough of these are reporting, you can apply for cards in the fleet credit tier and the cash credit tier.  As these cards report your on-time payments, your score will only grow stronger.  This will also mean you start getting offers from cards with more favorable business credit card rates, such as lower interest. Find out more about the credit tiers and building business credit using credit cards in each one here.

Side Note: Hidden Business Credit Card Rates When Accepting Credit Cards

Just as there are hidden fees when it comes to using credit cards in the course of your business, there are also hidden rates on the other side.  If you accept cards as payment in the course of your business, be aware of these little-known costs.

Manual entry fee

Did you know that it costs your business more in credit card processing fees if you manually enter the credit card number rather than swiping it?  It’s because of the increased security risk.  If at all possible, make sure customers swipe instead of type in the number.

Check out our professional research and score the best business credit cards for your business.

Below Limit Costs

Okay so this isn’t an “extra” fee per se, but it is a definite cost.  It is entirely possible that you can lose money on a credit card sale if it doesn’t hit a certain dollar amount.  This is because the business credit card rate on processing that transaction may actually be more than the profit earned from it.

That’s why you see many businesses, such as donut shops and other businesses with frequent low dollar amount purchases, require a minimum purchase if you intend to use a card.  This not only avoids the problem of losing money on low dollar amount purchases due to processing fees, but it can increase profits when you consider the number of people that do not carry cash.

Stop Paying Business Credit Card Rates You Do Not Know About

It is impossible to find a card with no unsavory fees.  The key is to determine which ones are worth it to you to pay.  Then, apply only for cards that charge business credit card rates you are willing to pay.  The credit card industry is fiercely competitive, and if your business credit score is solid, you can have your pick of the cards that will work best for you.

The post Business Credit Card Rates: Everything You Might Need to Pay appeared first on Credit Suite.

The post Business Credit Card Rates: Everything You Might Need to Pay appeared first on Buy It At A Bargain – Deals And Reviews.

Why you need GOOD front-end Pizza

Guest author, David Perrera, is MFA Director of Sales.

For the majority of my life I have called the state of New Jersey my home. New Jersey is known for its mobsters, high taxes, and really really good pizza. It’s also home to the greatest football team ever created, the New York Giants. OK maybe I’m embellishing there a bit… or maybe not; you can decide.

About 4 years ago, before I understood the first thing about Direct Response marketing, I recall getting an offer for Monday $8 Pizza from a local Italian restaurant that I had never been to.

Now, if you know anything about New Jersey pizza, $8 pizza is like a fabled unicorn that lives inside your washing machine. It just isn’t there.

So, excited and concerned, I take my coupon to the restaurant the following Monday for my $8 box of takeout pizza.

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Knowing what I do now about marketing — front-end vs. back-end, ROI, ACV, etc. — this seems like a perfectly acceptable play, IF and only if, the intention is to gain a new customer.

In other words, if the restaurant knows that the average lifetime value of a customer is $500 for example, would it make sense to pay $4 for advertising, and $4 to have me walk through the door, if the future value of my patronage would be $500? Of course it would…. If I come back.

Very often marketers get the sense they just need to get a cheap lead magnet out to a prospect in order to gain their information and put them on their list, or better yet – some cheap “tripwire” product (cheap as in value, not cost). That’s exactly what happens when I go to pick up my pizza.

There are about a dozen pre-made boxes of pizza sitting under a heat lamp when I arrive. You can tell they obviously skimped on the cheese and sauce as if to say “hey it’s only $8, what more do you want?”

The pizza is lukewarm and not very good at all.

This is their one opportunity to wow me… their one chance to potentially gain me as a repeat customer and make back their investment.

And I never go back.

At the time I was truly baffled as to why this shop would go through the trouble of placing an ad, driving traffic to their door, and then letting me leave, utterly dissatisfied. The lady at the counter wasn’t even really happy about giving me the $8 pizza (although that attitude is typical of us Jersey Italians so maybe I was reading too much into it).

But the point is valid. Are you offering a flimsy, dissatisfying, front-end offer just to get someone on your list and become a customer? If so, why? Why wouldn’t you go the distance (one of our core values) and give the prospect an over-the-top offer that makes them want to keep coming back for more?

If you OVER deliver on value, your customers will notice, and you might have a customer for life…

If you UNDER deliver, you might lose the opportunity to earn their business… forever.

The post Why you need GOOD front-end Pizza appeared first on Marketing Funnel Automation.