When we picture extending credit to a customer, we typically think of the situation where the customer receives a bill in the mail after receiving the goods or services. But credit comes in all sorts ... |
Your credit policy is simply your approach to how you want to make your customers cough up what they owe you. It's really just a system for determining how you are going to collect payment from your ... |
Industry customs will go a long way toward helping you to determine which types of credit you offer. Lawyers usually send a bill after services are rendered, ice cream vendors want cash, clothing ... |
You might as well acknowledge to yourself up front that if you extend credit, you're going to have customers who won't pay you on time or even pay you at all. It's unavoidable. No matter how keen ... |
Let's take a look at gathering credit information on individuals. The information you'll gather will depend upon whether the credit is a credit card, a check, or some other type of credit. |
Credit information is generally easier to obtain for businesses than for individuals because businesses often have more publicly available information than do individuals. |
Your decision on how much credit to offer will be largely based on a combination of your gut instincts (is this person or company likely to pay me back?) and trial and error. A good rule of thumb is ... |
If you decide to accept credit cards, you'll have to decide first which ones you want to accept: Visa, MasterCard, Discover, or American Express, for example. The charge you'll pay will vary, ... |
The typical credit card transaction begins when your customer hands you the credit card. What you do with the credit card depends upon the system you have in place. You will either manually imprint ... |
With credit card fraud topping $200 million each year, banks and other lenders are understandably skittish about commercial credit card accounts. When you go to your lender to open up a credit card ... |
