How To Start Your Own Web Business

Web Business 101
An introduction to opening your own business on the web.

How Good Is Your Credit?

Did I mention credit? As in your personal credit rating? Hate to say it, but its often a big determining factor in acceptance for merchant services. If you have impaired credit you will have higher monthly fees, or possibly not be able to get a merchant's account at all. Often your best rates can be found within your own bank, but they also tend to require the highest credit ratings. Fear not though, as there is one more option for those of tarnished financial standing.

There are several companies out there that act as "Agents" for credit card acceptance. The way this works is that you agree to "sell" your products to them for resale. In effect, you pay 8% to have them sell your items and process the credit card transactions. Thats it. No other fees, just 8% off the top. Your personal credit does not enter into the picture, as you are not the one making the transactions. One such company is CCNow, but there are other sources out there. Down sides include limitations on items sold, minimum costs for individual items, and the 8% you lose off your total profit. Worth checking into for a new business though, as it allows you to build capital, or just test the waters so to speak.

Currently I am using First Bank of Beverly Hills, with Authorizenet handling my real time card transactions. All of this is routed through my storefront on Freemerchant.com from my website on Hypermart.net. Clear as mud, eh? Sad thing is that this is the simplest method I have found as yet.

All right, a summary. Shop around, a lot! There are hundreds of people out there who want to handle your credit card transactions. Contact a lot of them, wheel and deal with them. Quote their competitor's rates, haggle, and don't be afraid to walk away from someone if they are completely out in left field. Take your time and get the best deal you can.

Some Resources

Any major search engine: look for "Merchant Services" or "Credit Card"

Thats all folks! I will continue this as I make my way in the business world!

Feel free to contact me at: 2Cool@2cooltek.com

Or the 2Cool snail mail address:

2CoolTek

P.O. Box 254407

Patrick AFB, FL 32925-4407

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