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Tag Archives: Credit card

Lessons Learned From Wealthy Investors

saving-money-how-to-get-richLearning and developing the characteristics of wealthy people is a great way to start fostering your own financial independence and success. Most people who amass an abundance of cash and resources, do so because they have the right personality traits and lifestyle habits. Their ability to remain steadfast in their pursuit of goals and to save what they possess, allows them to enjoy richer, fuller and more stable lives. Following are 3 characteristics of wealthy investors that anyone can pursue.

Investors  Are Optimists

Of the different characteristics that wealthy people possess, contentment is likely the most important. Although many people believe that money brings happiness, in reality, the opposite is actually true. If you can maintain an upbeat state of mind, you will start becoming more aggressive and proactive in your wealth-building endeavors. Those who are perpetually depressed and downtrodden are often too beaten down to even try.

Able To Avoid Impulse Buys

The typical consumerism mentality does not apply to those who are rich. This is because they do not have as many emotional associations with spending. Buying new products is not directly associated with their happiness and thus, they can commit to purchases from a very realistic and balanced mindset.

Conversely, people who are constantly searching for happiness in things are more prone to buying items that they really don’t need or won’t use. For this and other reasons, in order to start generating real wealth and hanging onto it, you will first have to learn how to define the source of your happiness differently. If you can achieve a positive mindset and feelings of contentment without spending, it will be much easier to invest and save.

Perseverance

Wealthy people get where they are because they are willing and able to persevere. In spite of the unfortunate and all too common belief that rich people have it easier, negative developments and events are inevitable for every living being. The ability to rise above these things and to make changes wherever possible, is how people are able to take their proverbial lemons and turn them into lemonade.

Getting Out of Financial Rat Race

Sometimes it seems like you are racing on a treadmill when it comes to paying your debts, you are always trying to pay up your debts with a lot of difficulties but you never get them over you. Getting out of the race may not be as easy as many would think, it requires one to have some skills to be able to pay up the debts easily and live a stress free life.

Here are several  tips from wise investors:

1. You may hide your credit card so as to avoid adding new debts every now and then. You may be in need for your credit card in case of emergency but let it not be as near as being in your wallet. This prompts you to use it in matters that don’t really matter. It will be safer if you leave it in a desk at home or even keep it in a huge block of ice so as to avoid accessing it easily. The point here is that you should avoid having it close to you as this may tempt you to use it.

2. Learn to pay your bills in order of their interest rates. This is recommendable as it reduces the burden that you will have in time to come hence making life easier for you.

3. Ensure that you even pay the smallest balance on every bill and more towards the one with the highest interest rate. This aids in avoiding late fees.

4. Follow up your spending habits within a week and get to know where you use more money on. Each and every one of us buys food but you don’t have to eat each and every day anyway! On tracing your spending habits you will be surprised how it’s possible to cut down on some expenses that are not very necessary.

5. Get rid of the unnecessary expenses and use the saved cash to pay up your bills. Instead of hanging out for a movie, get a free one from the library and so forth. You will be surprised how things will start getting easy on you.

6. You may now pay the next debt after you are through with one with the highest rate. Eliminate your debts one by one and within some short while you will be out of the rat race!

Michael Hastings is passionate about saving, investment and business. He is also a savvy investor who works for Nick Scali, a furniture company.

 

 

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What’s The Right Credit Card For My Business?

gty_credit_card_choice_kb_130405_wgA number of credit card providers have been really aiming at including small businesses in their product line. For new, small businesses this can work wonders as it is a lot easier to get a credit card than a loan from a bank.

Of course, there are dozens of choices available and this can often make it quite hard to choose a specific card. The best way to evaluate the sort of card that’s best for your business is to take a look at its spending habits. Different businesses have different spending habits, depending on the sort of business they have.

Balance

Consider if you plan on paying the balance over each month, or whether you will pay it off with time and want to pay the minimum payment. If you do decide to carry the balance then you will need to take a look at the annual percentage rate, as this can end up being quite costly for business if it goes wrong.

For those that wish to carry their balance and also have good credit, take a look to see if you can get a 0% credit card, as this will mean you pay nothing back for a set period. Fixed rates can be very attractive when interest rates are rising; however this is not the case currently.

For businesses that pay all of their balance each month, they should look for cards with rewards or longer periods of grace. These businesses can benefit greatly from paying back and the rewards for being disciplined are good. However, make sure you are disciplined as the costs for not being so are also high.

Charge Cards

A good alternative to the credit card is the charge card. This card differs as it allows businesses to have a short line of credit. The card will always be paid back in the full amount at the end of the month and there are harsh penalties. However, if you do pay back in full your business will receive a number of benefits for doing so. Charge cards often also charge an annual fee and there is a similar process to the credit card application online, when applying for one.

Though, if you do need flexibility, then a credit card is a better option – just be aware of the interest charges and when you need to pay the balance.

Rewards

We’ve mentioned rewards on a number of occasions and both credit card and charge card companies issue these. These often come in the shape of air miles, cash back and discounts at retailers, hotels or for services. Access to airport lounges and hotel upgrades are also part and parcel of these benefits and perks. The main thing here is to pay attention to the fine print if you choose a card with these perks, as the costs of not meeting the criteria are high.

So, in conclusion, the best way to choose a card is to look at your businesses situation and all the financial products out there and then take your ability to pay into account. By then choosing a card around your ability to pay, you can be sure that you will avoid steep charges and gain all the benefits you can.

Cormac Reynolds writes financial articles for a variety of businesses and blogs and has done so for many years.

 

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The Invention of the Cash Mob

Local businesses ultimately tread water for most of their lives under the disinterested eye of major players in the respective industries. Being presented with a pair of water-wings would provide respite for anyone under trying circumstances. On the other side of this metaphor is the recent development of the cash mob, set out to offer water wings to small businesses in as many places as possible.
When Chris Smith conceptualised the idea of a cash mob less than a year ago he might not have realised that it would take off so dramatically. The idea of the cash mob is quite similar to its more social influencer, the flash mob, in that it pools a group of strangers together in an attempt to add value to society in some way. Whether it is an unexpected well-choreographed dance routine in a shopping mall, or for the purposes of mass demonstration for political purposes, a flash mob has an intangible outcome. A cash mob on the other hand aims to provide cash injection for small businesses that could really do with a larger customer base.
Cash mobs are taking off slowly but surely all over the world. As group buying sites become more popular, small to medium-sized businesses take big risks in forking out a lot of money to pay the online retailer as well as reduce their product price. Contrary to a group buying site the cash mob encourages personal interaction with store owners through physical purchases. This adds a new dimension to the buying process and serves as a valuable way of retaining customers.
The optimal cash mob functions in the following way:A vote is taken on which enterprise should be mobbed.A date and time is arranged for the cash mob to take place.The right number of people mob the store without there being too many to handle or too few to make the cash mob a successful venture. Lastly, the mob needs to carry out its main function by spending money in the store through their purchases.
The result of a successful cash mob is that store owners get a valuable injection to their cash flow, allowing them to keep their heads above water for a while longer. This trend will most likely spread out to the rest of the world in the near future and as a relatively new venture the cash mob is already making a bit of a splash online.

Dave Peterson deals in currency as a hobby and has done so for years. Foreign exchange traders are a big part of his life and he’s definitely had his ups and down with them over the years. He realises that forex services differ quite dramatically between firms but building a relationship with your trader is vital for trust purposes.

 

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Free Your Business From Chargebacks

If you’re a business owner, you probably cringe a little bit whenever somebody mentions the word chargebacks. This is completely normal. No business owner likes to deal with chargebacks, but for some reason they have the tendency to keep coming in, slipping around the cracks even if you take steps to safeguard your business from customer misunderstandings and fraudulent purchases. If you haven’t had the misfortune to deal with chargebacks in your business yet, you may not even know what they are. Chargebacks are credit reversals that come about when a customer or client requests their money back after making a credit card purchase. It may not sound too bad, but they can cause a lot of hassle and undue stress for business owners. Chargebacks take up a lot of time and resources, and they can incur a lot of fees that will eventually add up if you have a lot in any given time period.

There are ways to prevent chargebacks from happening though, and taking a few extra steps can go a long way towards freeing your business from them. Most chargebacks stem from two different things: the first is a simple misunderstanding between the customer and the merchant, and the second is fraudulent intent on the part of the customer.

In the first situation, something occurred which was not fully explained to the customer, or which they did not understand correctly. For example, if your return policy isn’t very specific, the customer may think that they have 45 days to return an item when actually the time frame is 30 days. They decide they want to send the item back on day 37, find out that they can’t, and go initiate a chargeback because they feel like they were not treated fairly. Misunderstandings like this happen quite a bit, and the best way to prevent them is to make sure everything on your website is explained clearly in an easy to understand way. The same sort of misunderstanding can occur with shipping policies, product descriptions, product images, and a whole range of other factors.

The second reason chargebacks happen – fraud – is a little harder to prevent, but you can still safeguard your business if you make the right precautions. Chargeback fraud happens when a customer makes a purchase with a credit card, usually through an online transaction on a website, and then initiates a chargeback with his or her bank on the premise that the item never arrived, or it arrived damaged, or something of that nature. In reality, the item arrived in perfect condition and the customer is simply attempting to get it for free, but banks typically take the side of the customer in matters like this, which doesn’t leave merchants with a whole lot of wiggle room to fight back.

The best way to prevent this is to screen any customers that seem suspicious or who have a history of chargebacks. You can find some very thorough online databases of people who have a history of chargebacks, and after doing this you can decide whether or not you want to do business with that person.

Niika Best is a chargeback specialist who runs a firm which fights against chargebacks for merchants. she has got a reputation amongst the chargebacks specialists as the leading person who has been in this industry. If you would like to know more about Niika’s chargeback initiatives or how to fight a chargeback, please log on to her website

 

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The Best Methods for Preventing Fraudulent Chargebacks

Fraudulent chargebacks are becoming more and more prevalent in today’s modern society, and as a business owner you’ve probably been hit more than once with this specific kind of nefarious fraudulent activity. Whenever it happens you’re left slapping your forehead and wondering how you could have let that one slip by you. It’s nothing to beat yourself up about, and if there weren’t such unscrupulous people in the world today we wouldn’t even have to deal with them. Unfortunately, the fact of the matter is that there are people like this who will take advantage of every possible opportunity to swindle, gyp, and otherwise rip off honest, hardworking businesspeople.

Instead of beating yourself up, what you can do instead is further tighten your security measures to prevent this type of fraud from affecting your business. Every new chargeback is an opportunity to review your purchasing and processing model to make it harder for the scammers to slip through. Dealing with fraudulent chargeback in an online environment is infinitely more difficult than dealing with it in a “card present” business scenario, so the latter is what this article is going to focus on mostly. Here are the best methods for preventing fraudulent chargebacks in your physical business location.

The first and most obvious step is to obtain signatures, and compare the one given with the signature on the back of the credit card. If there is no signature on the back of the card, don’t even accept the charge. Kindly inform the customer that it’s against your policy to do so, and offer other methods of payment, such as cash or, if you offer it, check. Legitimate card owners will usually understand the need for this to happen, and if the customer is trying to make the purchase with a stolen or fake credit card you’re better off not dealing with him anyway. They may get angry or try to argue with you, but stand firm, and most importantly train your cashiers to do this as well.

When the customer signs the credit card receipt, examine the signature given one more time against the signature on the back of the card. Many people simply forget or neglect to do this, but it can be one of the best indicators that you’re dealing with a fraudulent transaction. Legitimate card owners will usually understand the need for this to happen, and if the customer is trying to make the purchase with a stolen or fake credit card you’re better off not dealing with him anyway. They may get angry or try to argue with you, but stand firm, and most importantly train your cashiers to do this as well.

Second of all, train your staff to be able to recognize all of the various security features that will be present on a legitimate credit card. They should examine each card separately to determine whether the card is valid. This is another obvious gesture but there are a lot of people who simply don’t do it. Fake credit cards are extremely hard to pass off under a discerning eye.Finally, take a second to double check that the number on the slide machine is actually the same number that’s on the physical card. These are things that only take a few seconds to do, but can save you a lot of time and money in the long run.

Rebecca is a multi tasking person offering SEO, online PR, web copywriting, media relationship management, and chargeback responses. Rebecca works directly with each client to increase  brand profile, and search engine rankings. She has headed a number of chargeback campaigns for large brands.If intrested in Rebecca’s chargeback initiatives or would like to know how to fight chargebacks visit her website.

 

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The Wonders of “Outsourced” Technical Support – From a Customers View

Authors note:  My one regret is that they have conveniently omitted a clock next to the entries, as would normally best practices for any company that truly wanted to monitor customer service.  This transaction took 47 minutes.

My actual chat with PeoplePc Tech Support:

Please wait for a site operator to respond. Your feedback is important to us! Please complete our Exit Survey by clicking on the Grey Close Button at the end of your LiveChat.
‘Shirley’ says: Thank you for contacting PeoplePC LiveChat, how may I help you today?
customer@peoplepc.com: you are telling me that my password is incorrect, but it’s the same one I’ve used for 15 years
Shirley: It is quite unfortunate that one of our best customers has to face such difficulty. Let me get this clarified for you.
customer@peoplepc.com: I was trying to send out a newsletter today, did I piss the system off?
Shirley: Please give me the last four digits of your Debit Card or a Credit Card (CC).
customer@peoplepc.com: 2607
Shirley: Thank you for the verification.
Shirley: I see that some fraud was detected on your account due to which our fraud department changed your password to prevent you.
Shirley: This is why you are not able to login.
Shirley: Let me guide you what needs to be done now.
Shirley: 1st, we will need to reset your password.
Shirley: 2nd, please do not use your old password ever.
Shirley: 3rd, when you make a new password now do not share it with any one. Please make a strong password for example: combination of letters and numbers in such a way that no one good guess it. Example: Ab45Cd
Shirley: 4th, please scan your computer for viruses.
Shirley: Thus, before we proceed with the change password option, Nowadays we receive lot of calls where a customer’s computer is affected by hackers or viruses and they end up having to spend a lot of money to get it fixed.
Shirley: Thus, may I know, is your computer protected from viruses, spyware, and other Internet threats?
customer@peoplepc.com: AVG
customer@peoplepc.com: I’m fine, I just need the password
Shirley: Great. How old is your avg though if I may know?
customer@peoplepc.com: and how many emails can I send without arrising the ire of your “fraud department?”
Shirley: due to security reasons, we will not be able to provide the original password of your email address via Live Chat.
Shirley: Instead I can reset the password and give it to you on this chat window.
Shirley: Then, you can then change it through My Account online.
Shirley: Once I do this, you will receive an email that your password has been viewed.
Shirley: Is that fine with you?
customer@peoplepc.com: fine, but and how many emails can I send without arrising the ire of your “fraud department?”
Shirley: This is not due to sending more email messages.
customer@peoplepc.com: then it is a very timely “coinsidence.”
Shirley: May be.
customer@peoplepc.com: and can you answer my question?
Shirley: Yes.
Shirley: Please give me five minutes.
customer@peoplepc.com: take your time
Shirley: Thank you.
customer@peoplepc.com: hard to find a supervisor at this time of night?
Shirley: Thank you for your patience.
Shirley: I apologize for the delay.
Shirley: I am yet researching on your issue.
Shirley: There is no specified limit, but it is best if you send an email to just a few receivers at a time.
customer@peoplepc.com: that is inconvenient with a mail list of 2700
customer@peoplepc.com: please see if you can find a number
Shirley: Okay. I would suggest you to send an email to as minimum recipients as you can.
Shirley: You can divide your address book into groups.
Shirley: Like school.
Shirley: College
Shirley: friends
Shirley: Official
Shirley: Then accordingly send an email.
customer@peoplepc.com: that is not a number. Say, my “minimum” is in one catagory, “newsletter” and my list is 2700. Can I use 2700 for a minimum ?
Shirley: No.
Shirley: Minimum would mean 10 to 50 receipts only.
customer@peoplepc.com: so your “fraud” department wants me to send 2700 emails in groups of 50?
Shirley: Again, there is no specific number or requirement.
Shirley: The smaller the list the better the results.
customer@peoplepc.com: well then whats wrong with 200?
Shirley: You can sure try 200 as well.
customer@peoplepc.com: I dont like the word “try” it has connotations of my haveing to reset my password again and again if i exceed your arbitrary number
Shirley: Okay.
customer@peoplepc.com: surely you must have some sort of written guidelines for your “fraud” department to follow?
Shirley: Let me check.
customer@peoplepc.com: thank you
Shirley: Please be on hold for five minutes.
customer@peoplepc.com: i was
Shirley: Yes, Please be on hold for another five minutes,
Shirley: Thank you for your patience.
Shirley: I would need some more time.
Shirley: I apologize for the delay. Please be on hold for another five minutes.
Shirley: Thank you for your patience.
Shirley: Please click on the link given below.
Shirley:http://www.earthlink.net/about/policies/use/bulkmail/
Shirley: Please fill in the form with your requirement to send bulk email messages.
customer@peoplepc.com: is PeoplePC owned by earhlink now?
customer@peoplepc.com: Anyhow, your form is filled out. Can I please have my password now?
Shirley: Yes. EarthLink is our parent company now.
customer@peoplepc.com: congratulations, I guess
Shirley: Sure.
Shirley: Thank you.
Shirley: step6243 is your new password.
Shirley: Your password changed successfully!
Shirley: This change will take 20 minutes for it to take effect.
Shirley: Though we can try it right now, to test.
customer@peoplepc.com: Thank you. Have a pleasant evening
Shirley: Please use this password to log into My Account and from there you will be able to reset your password.  You can reach My Account from the following link.
Shirley: http://myaccount.peoplepc.com
Shirley: Please use just the first part of your email address as the member name. (All in lower case). Do not type @peoplepc.com For example: if abc@peoplepc.com is your email address. Use only abc as your member name. Then, type in your password. (The password that I gave you.) Then, Click on Sign in.
Shirley: After logging into My Account – In the Profiles area, click the your email address that you would like to change the password for.
Shirley: In the Primary Profile area, click Edit next to the password.
Shirley: In the Old Password field, type the password which has just been given to you.
Shirley: In the New Password field, type your new PeoplePC password. In the Retype New Password field, type your new password.
Shirley: Click the Change Password button.
Shirley: Let me know once done.
Shirley: Also, once done. Since we have gone ahead and reset the password on the account, and you would be then resetting the password again at your end via My Account, I would suggest that you also use the new password for your email program and connection.
Shirley: 
Shirley:  Do you want me to go ahead and provide you with the directions to change the password for the email program and connection software?
customer@peoplepc.com: please
Shirley: Please reset your password first by following the steps givven above.
customer@peoplepc.com: so I get to reset my servers, and my iPhone?
Shirley: Yes.
customer@peoplepc.com: I cant get to your server with this chat window open.
customer@peoplepc.com: Chrome wont open another tab
Shirley: You can click on the Minus sign at the top right of this window to minimize this window.
Shirley: You can always click on the chat window at the bottom of the screen when you need to read the chat.
Shirley: Please open another window.
customer@peoplepc.com: again, Chrome wont open another window. It just toggles this one back and forth
Shirley: Please use Internet Explorer.
customer@peoplepc.com: kk
Shirley: Okay.
customer@peoplepc.com: I think were good. According to your form, it WAS the number of emails I sent (400) that caused your “fraud” department to suspend my account. When you change companies and enforce a new set of restrictions, it would be nice to inform your customers.
Shirley: We always send an email alert for each and every change.
Shirley: Which email program do you use in order to send and receive email messages?
Shirley: Is it Web Mail or Outlook Express or Windows Mail?
customer@peoplepc.com: Outlook
customer@peoplepc.com: and if you sent a notice, it must have gotten trapped in my spam filter. Ironic.
Shirley: May I know the version of your Microsoft Outlook that you are using?
Shirley: Is it Outlook 2000, Outlook 2002, Outlook 2003, Outlook 2007 or is it Outlook Express?
Shirley: If you are not sure, open your Outlook.
Shirley: Click on Help > About. Let me know the version for the same.
customer@peoplepc.com: why?
customer@peoplepc.com: its 2007
Shirley: So, that I can help you changer your password there.
Shirley: Okay.
customer@peoplepc.com: i got it covered. Thanks
Shirley: Great. Make sure you use your new password the next time you connect.
Shirley: Do you use the peoplepc software ( blue smiley face icon ) to get connected to the  Internet ?
customer@peoplepc.com: I’ve already changed it. No, I set up the POP and SMTP servers on my Outlook and connect through that.
Shirley: Okay.
Shirley: Connect better with PeoplePC dial-up software. Our Smart Dialer technology automatically chooses the best local dial-up access number for you each time you go online. You can download the Software fromhttps://myaccount.peoplepc.com .Login to Myaccount then click on my Downloads on the left hand side and then download the Dial up Connection software. I will also mail you the CD of the Software on your Mailing Address, which you will receive in two to five business days. May I have the Mailing Address?
customer@peoplepc.com: God how retro. I have a T1
Shirley: Okay. I understand.
Shirley: 7th is your bill cycle date of every month. You were last charged on 08/08/11 for $12.95.
Shirley: PeoplePC will occasionally need to send important administrative emails to you about your service.  Do you have a specific contact email address you would like us to use when sending these messages?
customer@peoplepc.com: No thanks. Were good. Bye now!
Shirley: You are welcome.
Shirley: Is there anything else I may assist you with today?
customer@peoplepc.com: No thanks. Were good. Bye now!
Shirley: I was indeed glad to get this opportunity to help you.
Shirley: You’re welcome and thank you for using PeoplePC LiveChat. Should you need further assistance, please feel free to contact us again. It was a pleasure assisting a friendly customer like you.
Shirley: Thank you for your understanding and patience. Have a wonderful day. Take care. Bye.
Shirley: Please click on ‘X’ button on top of the chat window to end this chat session.

 

But Shirley, whatever happened to: Your feedback is important to us! Please complete our Exit Survey by clicking on the Grey Close Button at the end of your LiveChat?

By the way, I changed the password back to my old one  (which she told me never to use again) rather than changing all the other instruments I use it on.  It works fine.

 

 

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