Comments on: I have a restaurant business, is it better to buy a credit card terminal for $300? http://smallbusinessmerchantaccounts.org/i-have-a-restaurant-business-is-it-better-to-buy-a-credit-card-terminal-for-300.htm Thu, 09 Sep 2010 17:53:02 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Initial Underwriting Group http://smallbusinessmerchantaccounts.org/i-have-a-restaurant-business-is-it-better-to-buy-a-credit-card-terminal-for-300.htm/comment-page-1#comment-1542 Initial Underwriting Group Tue, 24 Nov 2009 09:44:34 +0000 http://smallbusinessmerchantaccounts.org/i-have-a-restaurant-business-is-it-better-to-buy-a-credit-card-terminal-for-300.htm#comment-1542 A true business credit card is a line of credit that is taken in the name of the business, under the business' credit. Activity, whether good or bad, is reflected on your business' credit report through D&B and other financial institutions, and the liability for any debts incurred and bills owed is with the business. However, some companies out there offer "business" credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts - you are. When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business' credit, while avoiding creating problems with your own. Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. I would suggest starting your search online via google or yahoo. Search for "strong business credit" (just like that in quotes) to find services that sell the information. Good luck, Ilya Bodner Small Business Owner Initial Underwriting Group A true business credit card is a line of credit that is taken in the name of the business, under the business’ credit. Activity, whether good or bad, is reflected on your business’ credit report through D&B and other financial institutions, and the liability for any debts incurred and bills owed is with the business.

However, some companies out there offer "business" credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts - you are.

When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business’ credit, while avoiding creating problems with your own.

Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. I would suggest starting your search online via google or yahoo. Search for "strong business credit" (just like that in quotes) to find services that sell the information.

Good luck,

Ilya Bodner
Small Business Owner
Initial Underwriting Group

]]> By: Carlos L http://smallbusinessmerchantaccounts.org/i-have-a-restaurant-business-is-it-better-to-buy-a-credit-card-terminal-for-300.htm/comment-page-1#comment-1541 Carlos L Tue, 24 Nov 2009 09:44:34 +0000 http://smallbusinessmerchantaccounts.org/i-have-a-restaurant-business-is-it-better-to-buy-a-credit-card-terminal-for-300.htm#comment-1541 Hi, Great post. It's not easy to open a small business. Most small business fail (statistically). I lost a lot of money trying to open a website. I was really down about losing my money when a friend introduced me to a really cool way to get started on the web. There's a company that matches companies selling products with people that want to promote the products (the name of the company is Keep Clicking). I joined for free (actualy, they paid me $10, but I didn't get that until I had $50 in my account which took me about a month). Most of the products I promote are free trial offers (it's kind of like magazines where the person can try a month free). The products usually ship for $4, and I get about $17! So I have no inventory, and I made over $1,200 last month. Anyway, it's the best way to make money that I've seen, and it's free. Best of luck to you! http://www.keep-clicking-work-home.info Hi,

Great post. It’s not easy to open a small business. Most small business fail (statistically). I lost a lot of money trying to open a website.

I was really down about losing my money when a friend introduced me to a really cool way to get started on the web. There’s a company that matches companies selling products with people that want to promote the products (the name of the company is Keep Clicking). I joined for free (actualy, they paid me $10, but I didn’t get that until I had $50 in my account which took me about a month).

Most of the products I promote are free trial offers (it’s kind of like magazines where the person can try a month free). The products usually ship for $4, and I get about $17! So I have no inventory, and I made over $1,200 last month.

Anyway, it’s the best way to make money that I’ve seen, and it’s free.

Best of luck to you!

http://www.keep-clicking-work-home.info

]]> By: queen http://smallbusinessmerchantaccounts.org/i-have-a-restaurant-business-is-it-better-to-buy-a-credit-card-terminal-for-300.htm/comment-page-1#comment-1539 queen Tue, 24 Nov 2009 09:44:33 +0000 http://smallbusinessmerchantaccounts.org/i-have-a-restaurant-business-is-it-better-to-buy-a-credit-card-terminal-for-300.htm#comment-1539 You might want to shop around for a credit card processing company that will provide the terminal free of charge. You might want to shop around for a credit card processing company that will provide the terminal free of charge.

]]> By: garrisonbight http://smallbusinessmerchantaccounts.org/i-have-a-restaurant-business-is-it-better-to-buy-a-credit-card-terminal-for-300.htm/comment-page-1#comment-1540 garrisonbight Tue, 24 Nov 2009 09:44:33 +0000 http://smallbusinessmerchantaccounts.org/i-have-a-restaurant-business-is-it-better-to-buy-a-credit-card-terminal-for-300.htm#comment-1540 It all depends on your finances. If you leas it you won't have an immediate out of pocket expense and it will take more than a year to realize the cost. Also, if you are renting it, you can write off the rental completely. For a new restaurant... the best may be to rent for the first year and then, if everything is going well for you, you can always buy it. It all depends on your finances. If you leas it you won’t have an immediate out of pocket expense and it will take more than a year to realize the cost. Also, if you are renting it, you can write off the rental completely.

For a new restaurant… the best may be to rent for the first year and then, if everything is going well for you, you can always buy it.

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