Top 5 Differences Between Small Business and Personal Credit Cards

When Rep. Nita Lowey, D-N.Y., introduced the Small Business Credit Card Act of 2013 to Congress back in June, she was attempting to right a wrong that has persisted since the original CARD Act took effect in October 2010.

The landmark law, which has increased transparency and bolstered consumer rights throughout the credit card industry, does not apply to credit cards branded for small business use. And while Lowey’s bill has the potential to correct this oversight, it has only a 1 percent chance of being enacted, according to GovTrack.

The roughly 37 percent of small business owners who leverage credit card debt each year must therefore learn how to get by without important legislatively provided rights if they wish to achieve debt stability and avoid losing money. CardHub conducted a study analyzing the small business credit card policies employed by the nation’s 10 largest issuers, and the five major takeaways are listed below.

1. Issuers Can Increase Small Business Interest Rates at Will

One of the most important protections afforded to consumers by the CARD Act is that which prevents increased interest rates from being applied to existing balances unless an account holder is at least 60 days delinquent on payment. Issuers can still use bait-and-switch pricing with business credit cards, however — a fact that makes debt stability impossible to achieve. Without debt stability, small business owners cannot plan strategically or confidently allocate funds. Bank of America is the only major issuer that has extended the CARD Act policy against arbitrary interest rate increases to its business-branded cards.

2. Small Business Credit Cards Are Personal in Nature

Despite the obvious regulatory imbalance, small business credit cards are inherently personal. If you submit a business credit card application for your company, the issuing bank will review your personal credit standing. Then, if you’re approved, account management will be reflected on your personal credit reports and you’ll be personally liable for account balances.

3. You Might Not Get Much Advance Warning of Account Changes

The CARD Act requires banks to give customers at least 45 days notice before making key changes to their accounts, such as altering its fee or interest rate structure. While they don’t have to provide small business owners with the same type of warning, four of the eight largest issuers in the country have proactively adopted this policy for all of their customers.

4. Payment Allocation Might Not Be Favorable

With a general consumer credit card, issuers must allocate the amount of your monthly payment above the minimum required to your most expensive debt. With a small business credit card, however, they can allocate payments as they please. That means if you transfer a balance to a business card that you also use for everyday spending, the balance with the highest interest rate will stick around longest, leading to more expensive finance charges. Only American Express, Bank of America, and Capital One have extended CARD Act payment allocation guidelines to their business credit cards.

5. Small Business Cards Also Offer Business-Oriented Perks

When it comes to expense categories like telecommunications services and office supplies, business credit cards offer by far the highest rewards earnings rates. They also provide helpful expense management tools and the ability to have numerous co-signers with customized spending limits.

What should you take from all of this? Well, general-consumer credit cards have an obvious advantage in terms of user protections, and they do not increase a small business owner’s personal liability. But small business credit cards also offer certain advantages tied to everyday spending. You should find a way to include both in your business repertoire as a result.

The best strategy would be to open a business rewards credit card for everyday use as well as a 0 percent general consumer card for funding small business operations. This will give you the best of both worlds until Congress wakes up and starts passing new legislation, rather than filibustering and campaigning their terms away.

This work is the opinion of the columnist and in no way reflects the opinion of ABC News.

Odysseas Papadimitriou is CEO of the credit card comparison website CardHub and the new personal finance social network WalletHub.


Tips For Running A Great Online Marketing Campaign

Use Website marketing to improve your business’ profits. Affiliate marketing has by far the most broad effects of any marketing style, potentially reaching people from the whole world. However, you need to learn the most effective ways to market your business on the web. Use this article to find some tips.

It is imperative to use a mailing list that features your clients. Ask users to sign up on your site or require them to submit an email address before making a purchase. You can utilize all of this later to e-mail sales information, ask for feedback or give out promotional items.

In an effort to encourage ad clicks, use an image to link to the product page you want them to buy from. Use matching text from the articles and put it at the start and finish. This does not really look like an advertisement.

Marketing through the internet should not always be done on the internet. In person conferences can be arranged, making Affiliate marketing a great tool on and offline. You can improve a community feeling this way, making bloggers want to write all about your product or service.

Always stay on top of what your online marketing competition is doing. It doesn’t matter the niche you choose to work in, there will always be some sort of competition.

Offer a FAQ section on your website to improve visitors’ satisfaction. This gives quick answers to most questions pertaining to your site and business, while simplifying the process of your customers getting the help they are looking for. Your visitors will feel more informed and will be more likely to use your services and frequent your site on an ongoing basis.

Try using captions with your images. Search engine algorithms will factor the relevancy of text in the captions in to how relevant your site is to a keyword being searched. With good captions, you can increase your site rank.

For every email you send out – business or personal – include your signature. A signature acts as a business card, so use this tool wisely by maximizing exposure. You will generate more traffic, more word of mouth referrals, and more revenue by sharing your website address with every person you e mail.

Video marketing is a wonderful way to advertise your business. Putting a video on your site attracts your customer’s interest. Using an interesting picture and title will get a customer’s attention.

You can use your cell phone as a work phone too, just ask your cell carrier if they can give you another number that will route to your cell phone. It is important, therefore, that you take the necessary steps to get a number.

Provide some kind of proof that the claims of the product quality are true. If you can prove the effectiveness of your product through videos or testimonials, your customers will be more apt to believe in your products and services. This is a great illustration of why you should sell products you have actually used whenever possible.

Your emails are a vital tool in your Affiliate marketing efforts. Be sure that they are protected. Avoid free email services, especially those that delete old messages, as you may wish to go back to those later. If your emails typically contain highly sensitive information, you should take extra precautions to safeguard this data during archiving.

There are several distinct markets in Website marketing. Maybe search engines won’t focus as much on title tags in the future. Marketing your product through means like youtube may be another good option if such a change takes place.

Make a simple video where you demonstrate using the products that you are selling. By doing this, customers can watch you literally trying the product out. You can show your audience the benefits of using the product, and highlight features that are difficult or impossible to describe in text. YouTube or your business blog are great sites for your videos.

Always try to keep your content fresh and current on your website. If someone visits your site and the information is outdated, they may assume that the company is not doing well and that it is a waste of time for them to contact you. If your site is frequently updated and user-friendly, your readers will enjoy visiting it.

Social websites such as MySpace or Facebook can help you reach customers in a social context and increase you business visibility. Avoid the possibility of being sued for harassment by refraining from sending unwanted marketing messages through social networking sites.

Make and upload a viral video to help assist your website marketing plan. These videos can be backlinked to your site to increase exposure. This can help attract new customers.

Publish positive customer reviews, informative articles and updates within your industry. Before you publish anything, be certain of getting permission. You don’t want to suffer legal problems. Make your interviews articles and put them on free article and E-zine directories. This is a great way to generate more traffic to your site.

It may sound tempting to maintain a profile on every possible social networking site, but remember that each profile will need all of your attention to make it worthwhile. Profiles that collect virtual dust are often considered spam.

Make a webpage specifically built for public relations. Add articles that could be used in magazines and newspapers. Not only is this simple to do, but it also is an excellent way to promote your business.

Find out what people think about events and promotions to discover what you can do to generate success in the future. As soon as you’ve initiated an online promotion or event, be sure to monitor the responses of people on forums and blogs. Use this advice to show your customers that you listen and incorporate their suggestions.

You have just learned about several of the techniques that can improve your internet business. Your next move is to put that knowledge to work for you and adapt it to your own professional needs. You may find that your business plan requires a more personalized approach. The key to any successful business is not being afraid to try something new, and always continue to learn new information.

How To Earn Affiliate Business Income From Home

Create multiple versions of the ad and test these types of see which ad is the best system. Once an ad is created, you the different than “Create another similar Ad”, through the Facebook interface, and devote a new picture or text.

Many it can certainly sometimes opinions precisely what they think good marketing is. But few are qualified existing advice. Means around this can TESTING. Testing your marketing trumps opinions, theories, and beliefs of all the so-called Small Business Digital PRresearchers. So if someone recommends you will do something, then so that. But make sure you test identified to check it produces or not necessarily.

Since yours is a small business, hosting is probably adequate for use in your needs. HTML webpages and document files take little space. Is the large files pertaining to example video files which sit on more storage space.

But on the internet need in order to create a slight mind-shift in how you appear at your “traffic” and “leads”. You should do more than only generate traffic and get leads from the marketing; you wish to get product or service. And as such it helps to think about the targeted traffic to your site as “guests” and individuals who volunteer turn out to be on your mailing list as “clients”. That’s really what they are, aren’t they?

There are numerous ways raise traffic aimed at your website. Online advertising, Small Business Public Relations,newspaper advertising, television advertising, word of mouth, leaflets & flyers. also. . the list goes on. Will take a very only trouble people – each one of these things charge a small fee – typically lots than me! The one exception is word of mouth, but for the to work you need people to have been dealing with your website primarily in order to pass the word on to other people. . . I’m thinking ‘chicken’ and ‘egg’.

In conclusion there are wide ranging opportunities to incorporate in your steps to starting a Small Business Online Advertising.These are simply a few significant available free marketing tools that you can use. Social media has become huge within the last few as well as youtube is fun and user friendly as thoroughly. Blogs and squidoo are great sources to claim some real estate online in your business and tend to serve you well.

The internet offers that you’ better choice and scope, apart through numbers of jobs available that would suit your requirement. Everyone possible as well that you might locate a work near home which isn’t listed your market local magazine. This happens because the advertisements be cheaper than in the print tv and radio stations. And the agencies inside your area may have a full website to their own, and prefer the internet to have more applicants to match the right candidate together with jobs they have been entrusted to help fill.

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Speed Up Boot By Disabling Unused Ports – A tips On How To Guide To Disabling Ports

Both IP addresses and subnet masks are derived from 32 bits divided into 4 octets of 8 bits each one. Here is how some octet translates from binary to decimal. Consider an octet involving most ones: 11111111.

Search Engine Marketing (SEM) – Search Engine Marketingis marketing campaigns that look to achieve more visibility for your particular world-wide-web. SEM goes after targeted keywords the.k.a. to rank highly using what is called the”SERPs” or search engine ranking internetsite.

Many people think that facebook is good for teenagers to hang around simply have absolutely nothing to do. But this isn’t true anymore because the changed. undoubtedly are a all sort of people on facebook nowadays and many business owners are actually on facebook looking for customers or services.

Rescue Piece of string. This rope is fabricated from static nylon kernmantle specially designed with anchoring and belaying Inerne of Thingsto specially structured hauling technology. A rescue rope may come in all different kinds and sizes depending by the difficulty of the rescue. Lighter or heavier rescue ropes will be employed depending on their own area involved, i.e. cave or wilderness areas use lighter rope for maneuverability, while heavier equipment will be used in urban rescues.

We all need to lessen on our spending or spend more wisely. I’m not really going speak about how lessening your spending will allow you to be be financially free. Earning more money with more period is the start to financial freedom. Having said that, you simply cannot become a good impulse shopper when you cash in on more money because will certainly drain any financial freedom you have.

OThe temptation of money is indeed difficult to resist. Anyone must realize that big money also means tough ethnic background. New entrants often don’t stand a chance against established players previously world of Online marketing,at least at first until they gain experience and impetus.

Therefore you need to construct every page in order to optimize your marketing results. Each page should lead your visitor onward with response, or get a reply right from the page. From each page with a visitor-action mindset: make it clear your wishes your visitor to do: visit another page, compare more information, buy, be part of your subsciber lists — Ask for ACTIONS.

Now, open the snippet to a person want include the copied content. Move the top triangle during the scrubber bar to the end of that clip; then, call a Edit menu and select Add. Flick you copied to the clipboard turn into added to your second snippet, including requirements that was recorded from it.

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