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Our Subscribers Say...
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The Credit Today ListServ has become the pre-imminent online forum, providing an opportunity for discussion and comments (and occasional humor) from an impressive list of credit professionals."
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Justin Brands, Inc. (A Berkshire Hathaway company)
Fort Worth, Texas
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Ron Woods
Corporate Credit Manager-World Wide
Thales Navigation, Inc.
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Corporate Credit Mgr
Fulton Paper Company
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Kimberly-Clark Customer Financial Services
"As a corporate credit manager with over two decades of experience, I consider Credit Today to be one of the best credit newsletters. Whether it is because of Credit Today's management, its distinguished panel of advisors, or the caliber of Credit Today's subscribers, it would be fair to say that some of the best and brightest minds in our profession are represented. The credit issues, technologies, news, credit department profiles, etc. are interesting and useful. Credit Today is a valuable reference and communications tool which I look forward to reading each month."
Paul Brunner
Corporate Credit Manager
Mitsubishi Electric Automation, Inc. |
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Credit Card Central
Not too long ago, it was uncommon for trade creditors to accept credit cards in the normal course of business, but that's changing rapidly in today's world. There are many issues surrounding the acceptance of credit cards that are important for credit execs to understand.
Credit cards can be a powerful tool to aid in collections and as a way to help market your product, but you'll need to be educated about them when setting up a program.
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Watch Those Credit Card Fees
The credit card charge was declined. The invoice was for $1 million for a large order from a military account, and the bank- imposed limit was $99,999. A check from the customer saved the sale, and th . . .
keep reading
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SBA to the Rescue?
Since it was the banks that pushed these businesses into credit card financing to begin with, it seems unlikely that there is a bank solution, but the Federal Government is trying to create one. Ameri . . .
keep reading
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Are Credit Card Payments at Risk in Bankruptcies?
January 16, 2009
We are putting a customer on credit hold and asking them to prepay for all future orders. My question is, if they prepay us with a credit card today, since there are about three days before the bank card processor pays us, if the customer files for Chapter 11 before we get funded by the bank card processor, is the credit card payment at risk? I would think this will be an issue between our company and the bank per our standard bank card agreement, and won't be subject to the bankruptcy case, but would like to know your experiences/opinions. . . .
keep reading
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2008 Credit Card Survey: Advice and Lessons-learned For Those Thinking of Setting Up a Credit Card Account
One of the questions in our survey asked respondents if they had any advice for someone thinking of setting up an interface to accept credit cards, but was not sure of how to go about it. We also asked for lessons-learned. Based on the responses to this question, it is quite clear that the devil is in the detail. While the basic concept behind accepting credit cards in payment of commercial transactions is relatively straightforward, any number of peripheral issues can crop up. We've organized the great responses into the following categories: - Evaluating Your Options
- Implementation
- Process Issues
- Unintended Consequences, and
- Success Stories
. . .
keep reading
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Where Credit Cards Don't Work
Our benchmarking survey on credit cards explored reasons why some trade credit professionals do NOT accept credit cards. The primary reason cited by most firms that do not accept credit cards is t . . .
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Credit Card Transactions With Foreign Exchange Rates
August 11, 2008
We have an application from a distributor in Canada. They would like us to drop ship product to their customers in the US and will pay by credit card. We haven't done this before, so I need advice on handling the foreign exchange rate difference. How do you process these transactions (ie do you have to calculate the exchange rate difference and then charge that amount instead?). Any suggestions or pitfalls to be aware of would be appreciated. Also they marked to be tax exempt, however since they didn't provide the US State resale certificates, I would assume we should go ahead and bill the State taxes where the deliveries are to be made? . . .
keep reading
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Credit Card Handling Fee OK?
June 20, 2008
I am also being tasked to reduce credit card fees. Since we are located in CA it does not look like we can charge a convenience fee, but I was wondering has anyone tried charging a "Handling fee" to o . . .
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Forum: Suggestions For Ways to Control Credit Card Fees?
May 23, 2008
We allow our customers to pay N30 balances with a credit card. The collector in me views this as a helpful tool in getting both past due and current balances paid and off the books. Unfortunately, the fees associated with these payments are becoming an issue because some of our more significant customers are beginning to make large payments with credit cards. My controller is pushing for me to figure out a way to offset the fees. Other than cutting out the option all together, does anyone have any suggestions or knowledge regarding this subject? . . .
keep reading
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This month's topic: Processing of Credit Applications
Click here to participate!
We're examining:
- What information is being captured on credit applications
- What additional information is being requested during the credit app process (such as personal guarantees, financial statements, resale certificates, etc.)
- What the primary challenges are relative to the processing of credit apps
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March 2010
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