Your Card Declined: How To Recover Credit Card “Declines” In Today’s Economy… Even If You’re A Small

Your Card Declined: How To Recover Credit Card “Declines” In Today's Economy Even If You're A Small Business eBook: Michael Senoff: leondumoulin.nl: Kindle.
Table of contents

When you have debts on more than one card, most people would consider paying the one with shorter due date first. Clearly, this is a wrong tactic. Clear off debts on the card that charges higher interest rate first. This way, you reduce your total interest outgo since unpaid dues with higher interest rates accumulate interest faster. Talk to your card company: If you are unable to pay your debts owing to a financial crunch resulting from a job loss or any other personal reasons, the interest charges simply keep mounting.

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So it is recommended to talk to the bank explaining the situation. Take advantage of holiday period: The best way with which you can manage your cards is taking maximum advantage of the holiday period. So if you are facing any temporary financial crunch, make planned buys on your cards to enjoy maximum holiday period and to avoid interest payment. Pay more than the minimum amount: Paying just the minimum amount is a practice followed by many card holders.

The mounting debts as a result of this cause many borrowers to get locked in unending debt spirals. Also remember, credit cards come with a very high interest rate and paying only the minimum due amount is only increasing your outstanding amount significantly at an exponential rate, depending on the outstanding amount. Consider opting for Automatic Payment Facility: Since credit cards come with high interest rate and late payment fee, opting for an automatic payment facility is recommended to avoid missing bill payments on time.

This way, the bill amounts may get deducted from your account without your manual intervention and you need not worry about missing repayment deadlines even if you are travelling or not having access to your bank. Know your billing cycle: To take maximum advantage of the credit-free period, make sure that you know your credit card billing cycle. Limit the number of credit cards: You may get offers for new cards from the sales executive visiting your office and from the innumerable mails being sent to you by various banks.

See Interest rates Payment history: The most important credit score component -- If you never miss a payment, your credit score will remain in good shape See Credit score payment history Jeremy M. No Social Security number, no credit reporting? See Credit scores Consumer credit card debt drops slightly in April, Fed data shows -- Consumer credit card balances fell in April, according to new data from the Federal Reserve, as Americans remained hesitant to carry excess debt Canceling a card with a balance doesn't have to hurt -- A reader asks how much credit score damage she can expect after closing a credit card that still has an outstanding balance See Cancel credit card Jeremy M.

Who's to blame for mom's falling FICO? But a look at the mom's credit reports will confirm who's really to blame. Debt -- Blogger Adam Baker shares his journey from a traditional, credit card-driven lifestyle to one where he and his wife owe no one See Adam Baker Jeremy M. How to shrink debt-to-income ratio while on Social Security -- A reader on Social Security wants to improve her debt-to-income ratio in order to qualify for a home loan.

Can it be done? See Debt-to-income ratio Jeremy M. Lost a court case? Your credit score could take a hit -- A reader facing a lawsuit after a car accident needs to protect herself from the credit score impact from any resulting judgment against her See Lawsuits and credit scores Credit card limits jump for 1st time since , Fed says -- For the first time since the economic crisis began, consumer credit card limits are increasing, according to new data from the Federal Reserve. See Credit card limits Consumer credit card debt jumps in March, Fed says -- Consumer credit card balances rose in March, according to the Federal Reserve, as consumers finally began to shed their reluctance to make purchases on plastic.

Scheming to ruin an ex's credit score isn't wise -- A woman with lousy credit wants to ruin her ex-boyfriend's good credit by adding him as an authorized user on her card account. But should she reconsider her plan? See Piggybacking scheme Fed says credit cards easier to get, but does anyone want one? See Credit card lending FICO reveals credit score damage from paying mortgage late and foreclosure -- Data shared by credit scoring giant FICO shows the point damage -- and length of recovery time -- that can follow several types of mortgage payment mishaps See Mortgages and credit scores Federal Reserve leaves interest rates alone again -- The Federal Reserve once again left interest rates unchanged, protecting most consumer credit card holders from sudden increases in their annual percentage rates.

But that doesn't mean the Fed has nothing new to offer. See Federal Reserve Jeremy M. Want a new card? Focus on the 3 keys to building good credit -- A reader wants to improve his chances of getting approved for a new credit card. But is closing older accounts and leaving balances unpaid the right approach? See Good credit Jeremy M. Credit card bill lost in the mail? You still have to pay it -- A postal service mistake doesn't relieve you of the duty to pay your bills, but those who pay faithfully can often catch a break -- before the goof damages their credit scores See Bill lost in the mail Jeremy M.

Experian aims to make credit reports more readable -- A reader asks about some language he hadn't seen on his credit report before. Our expert says it's part of a tweak that one major credit bureau recently finished See Experian credit report Federal Reserve: Credit card balances fall in February -- Credit card holders continued to scale back their use of plastic in February, causing revolving debt balances to decline, based on the latest consumer credit data from the Federal Reserve.

Credit check by car rental firm won't hurt score for long -- Car rental agencies may run a credit check when you rent a vehicle with a debit card, but don't worry: It won't do much damage to your credit score See Debit rental credit check Jeremy M. What to expect when you're made an authorized user on a credit card -- A mother wonders whether making her teenage son an authorized user on her credit card will help pass on her good credit score to her teen What to do with an inaccurate address on a credit report -- A reader whose credit reports list addresses associated with her ex-husband shouldn't worry, but she should take action.

Our expert lays out what she should do See Credit report Jeremy M.

Then the Problems Start

Don't fear credit score drop when applying for new card -- Applying for a new card may trim a few points from your credit score, but it shouldn't last -- as long as you use the new card wisely See Credit score drop Tipping your waiter or waitress? Ditch the credit card, pay with cash -- Although tipping with either cash or credit cards offers advantages, restaurant and hotel experts say that to make sure your generosity swiftly reaches its intended target, tip with cash See Tips with cash Jeremy M.

Angry about the credit scoring system? Here's who to complain to -- Consumers with complaints about the U. Just don't expect a miracle overnight See Credit scoring system Consumer credit card balances drop in January -- Consumer credit card balances declined in January, according to the latest Federal Reserve data, resuming their fall after posting one month of gains at the end of Requesting a teen's credit report isn't child's play -- A mom looking to get a copy of her teenage son's credit report finds that the process can be quite a challenge See Obtaining a teenager's credit report Consumers lack basic credit score knowledge, survey shows -- According to a new survey from VantageScore and the Consumer Federation of America, two of every three Americans believe -- incorrectly -- that a consumer's age is a factor used in calculating a credit score.

But that's not the only misconception. See Credit score Jeremy M. Rent-to-own home payments unlikely to aid credit score -- A wife looking to improve her and her husband's credit scores shouldn't rely only on the rent-to-own payments for her new house See Rent-to-own and credit Help! The bank keeps cutting my card's credit limit -- A cardholder who racked up a large amount of debt wants to know why the bank keeps lowering his credit limit See Credit limits Consumer credit card ownership sees 1st jump since , Fed says -- The number of credit cards held by consumers increased for the first time since early , according to data released by the Federal Reserve on Monday See Credit card ownership jumps Jeremy M.

How loan applications hurt your credit score -- When applying for a loan, be prepared for a small ding to your credit score as lenders check your creditworthiness See Hard inquiry Consumer credit card debt grows for 1st time since , Fed says -- Consumer credit card debt has increased for the first time in more than two years, according to new data from the Federal Reserve, lifted by a surge in holiday spending See Consumer credit Banks continue to ease lending standards, Federal Reserve's Quarterly Senior Loan Officer Survey shows -- Banks continued to make it easier for consumers to get a credit card in late , a new Federal Reserve survey shows.

The news wasn't as good for current credit card holders, though See Fed survey Federal Reserve leaves interest rates alone in first meeting of -- The Federal Reserve decided Wednesday to start in the same place it has spent the past two years -- on the sidelines. Its rate-setting committee voted to leave interest rates alone Apartment security deposit dispute stains renter's credit report -- A renter learns that removing apartment damage fees from his credit report will require a solid case and good negotiating skills.

See Credit report damage Jeremy M. How late is too late for a credit card payment? See Late payment Jeremy M. Will an unwanted card hurt your credit? See Closing card accounts Consumer credit card debt falls further in November -- Credit card balances continued their long decline in November, but analysts say a strong holiday season could soon turn things around.

Unused, old cards can help your credit score -- A reader worries -- unnecessarily -- that an old credit card from his college days could be hurting his credit. Barclays, Cap One moves send credit card interest rates higher -- Credit card interest rates rose for the first time in six weeks after Barclays and Capital One adjusted card offers. See Rate report Discover test credit card offers draw criticism -- The test offers Discover made skirt the edges of federal regulations requiring complete disclosure of terms, say consumer advocates Interest rates unchanged despite move from Chase -- A Chase interest rate tweak plus a Federal Reserve announcement still added up to zero movement in the average APR on new credit card offers this week.

See Rate report Federal Reserve leaves interest rates unchanged again -- In its final meeting of the year, the Federal Reserve again left its lending rates unchanged, and experts say to expect more of the same through See Fed Jeremy M. No quick fixes for removing late payment from credit report -- A loan applicant wants to know how he can delete a late payment from his credit report in an effort to boost his credit score.

Credit card interest rates drop on Capital One changes -- Interest rates on new credit card offers continue to head lower, thanks to changes from Capital One, but that doesn't mean borrowing has become a breeze. See Rate report Consumer credit card balances continue to decline in October -- Credit card balances declined further in October, marking the 26th straight month that Americans' credit card debt has shrunk. Relocating overseas can cause major credit headaches -- After returning to India, a cardholder wants to maintain his credit history in the States with some new U.

You can get an extra free credit report -- Federal law guarantees unemployed U.


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Nobody seems to be telling out-of-work consumers Credit card interest rates unchanged after Thanksgiving holiday -- Banks, apparently still shaking off their tryptophan drowsiness, left interest rates on credit card offers unchanged this week Credit card APRs fall for second straight week -- Credit card interest rates continued to fall this week, pushed lower by a business credit card. See Rate report Jeremy M. Can you freeze an individual credit card? See Credit freeze Credit card interest rates fall from record highs -- Credit card interest rates finally fell from record highs this week, but it's far too early for borrowers to celebrate.

See Credit scores Credit card interest rates hit another record high -- If it seems like credit card interest rates are higher than they've been in a long while, you're not imagining things. This week, the national average APR on new credit cards hit another record high, according to CreditCards. See Old debt Banks loosen credit card lending standards, Fed report says -- For the second straight quarter, banks made it a little bit easier to get a new credit card, the Federal Reserve said Monday.

However, data also showed it remains a tough time to be an existing cardholder See Consumer credit Walmart rate hike sends credit card APRs to record high -- Interest rates on new credit card offers leaped to record highs this week, following a rate hike on Walmart's Discover card See Weekly rate report Federal Reserve's policy changes won't impact cardholders -- The Federal Reserve announced steps Wednesday to support a fragile U.

See Fed Insuring your car or home? Your credit history can cost you -- Insurers are increasingly using scoring models that incorporate data from policyholders' credit reports to determine the cost of coverage See Weekly rate report Jeremy M. Correcting credit report errors is crucial, but not always easy -- A reader vents about his struggles to get some errors fixed on his credit report.

While fixing these mistakes can be burdensome, doing so will pay dividends in the long run See Fix credit report mistakes Credit card interest rates rise on Chase, Cap One changes -- Interest rates on new credit card offers inched up this week, following after rate hikes from Capital One and Chase. Can quickly repaying a car loan help to rebuild credit? See Car loan and credit Credit card interest rates flat despite Chase changes -- Interest rates on new credit card offers were unchanged this week, despite several APR changes from Chase.

See Chase Jeremy M. Canceled credit cards don't leave your credit report quickly -- A reader wants to remove some old, rarely-used credit card accounts from her credit report. Our expert tells her why that's not always a good idea. See Canceling credit cards Consumer credit card balances fall 7 percent, marking 2 full years of decline -- Consumer credit card debt has now fallen for two full years, according to the Federal Reserve's latest G. See Revolving debt Jeremy M. When a parent's 'favor' can ruin your credit -- A reader is an authorized user on his dad's small business card.

However, his credit is taking a hit as dad's business has fallen on hard times. Our expert says the reader should remove himself from that account ASAP. See Authorized user CreditCards. Interest rates jump following Capital One APR hikes -- Interest rates on new credit card offers offers jumped this week, after Capital One increased rates on seven of its cards.

More than retail cards needed for an excellent FICO score -- Retail credit cards, if used responsibly, can earn the cardholder a good -- but not great -- credit score. To take your score higher, you'll need a mix of cards Interest rates fall after Sony Card returns -- Credit card interest rates fall this week after the Sony Card made its return Interest rates remain unchanged for second-straight week -- Credit card interest rates held steady this week at their lowest levels since mid-May Cardholders must fight to correct credit report errors -- Consumers need to take advantage of consumer protection law by disputing credit reporting errors with both the bank and credit bureau.

See Credit report errors CreditCards. See Consumer credit Credit card interest rates unchanged despite NFL card's return -- Interest rates on new credit card offers were unchanged, according to the CreditCards. See Rate report Capital One's moves send credit card interest rates falling -- Interest rates on new credit card offers fell this week, according to the CreditCards. Charge card balances won't impact a FICO credit score -- Although the balances on credit cards are used in the calculation of credit scores, that isn't the case for charge card accounts.

See Charge cards Interest rates stay steady, but Will canceling a credit card hurt your credit score? Our series continues with a focus on credit scoring. See Cancel a credit card FTC proposes changes to credit reporting summary of rights documents -- When you get a copy of your credit report, it comes with a document that lists your rights. Now, the Federal Trade Commission is working to make those disclosures much easier to read. See Disclosure Wells Fargo interest rate increase sends credit card APRs higher -- Interest rates on new credit card offers rose slightly this week, according to the CreditCards.

Different websites provide very different credit scores -- Very different credit scores from two separate websites lead a reader to question the credit scoring system. See Credit scores Credit card lending standards loosen for 1st time in 3 years -- It got easier to get a credit card in the second quarter of , according to data released by the Federal Reserve on Monday See Survey Capital One APR decrease sends credit card interest rates to 3rd drop in 4 weeks -- Interest rates on new credit card offers fell for the third time in four weeks, according to the CreditCards.

See Rates Amid economic uncertainty, Federal Reserve leaves interest rates alone -- Amid signs that the economic recovery is in doubt, the Federal Reserve on Tuesday kept interest rates unchanged, leaving the majority of credit cardholders protected from sudden increases in their annual percentage rates See Consumer credit Interest rates fall after Walmart card makes online return -- Interest rates on new credit card offers fall after G. Money brings back its Walmart Discover card.

See Rates What 'prescreened' card offers are, how they work -- When you get a credit card offer that says that it's "prescreened," it means that you've been targeted for a special offer based on your credit report and such. But does it mean that the deal is guaranteed? See Screen Jeremy M. What exactly is a 'pre-screened' or 'pre-approved' credit card offer? See Pre-screened Obscure 'attrition risk' credit scoring tool may get you a better deal on your card -- Bitter about your bank?

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Irritated with your insurer? Your actions -- as measured by so-called "attrition-risk scores" -- could signal to those businesses that you are preparing to try the competition See Risk scores Interest rates rise after Chase adjusts card offer -- Credit card interest rates increased following Chase's adjustment of a card offer.

See Rate report Bank of America stops disclosing default APRs -- Despite regulations aimed at making credit card agreements more consumer friendly, new cardholders carrying plastic from the No. See Penalty rates Refinancing won't do lasting credit score damage -- A responsible borrower who refinances his properties is unlikely to see lasting credit score damage See Refinancing Credit card Interest rates fall for first time since May -- Credit card interest rates fell last week for the first time in more than two months, according to CreditCards.

See Rate report Authorized user can't be legally responsible for tax payment -- Though it may be a noble idea, an authorized cardholder who got into debt trouble can't take on the tax burden for the friend whose credit he damaged. See C Credit card interest rates hold steady for 2nd straight week -- Interest rates on new credit card offers were unchanged for the second straight week, as banks left their card products alone. See Rate report Pay off your balance each month?

Your credit report may not show it -- A family's conscientious but high-charging ways could be bad for their credit scores. See Consumer credit Husband's card defaults don't need to weigh on wife's credit -- Although a husband's debt defaults show up on his wife's credit report, she should be able to clear those negative items See Ex-spouse's credit default Interest rates advance for fifth consecutive week -- Credit card APRs increased for the fifth straight week, the longest increase in nearly three years.

See Rate report Taking on more credit won't hurt a good credit score -- A responsible borrower's good credit score won't be hurt -- and might even improve -- when taking on additional credit. See How adding credit affects your score Proposed Treasury rules take hard line against prepaid card fraud -- New rules aimed at fighting crime and terror financing could impact gift card buyers, experts warn. See Prepaid cards Nervous Fed continues to hold interest rates steady -- The Federal Reserve left interest rates unchanged once again Wednesday, meaning the bulk of credit cardholders can rest assured that their credit cards' APRs won't be going up anytime soon.

See Interest rates Credit card interest rates rise for fourth straight week -- Interest rates on new credit card offers tiptoed higher this week, according to the CreditCards. See Rate report Free FICO scores exist, but aren't easy to come by -- Free credit scores do exist and are relatively easy to find, but the tricky part is getting the scores lenders actually use See Cap One Cap One's moves push credit card interest rates higher -- Interest rates on new credit card offers surged higher this week, according to the CreditCards.

See Rates Unpaid traffic citations can lower drivers' credit scores -- If you think you can ignore an out-of-state traffic ticket, it can hurt in an unexpected way: See Consumer credit Capital One's rate hikes send credit card interest rates higher -- Interest rates on new credit card offers rose this week, according to the CreditCards. See Rate report Even barely late payments can impact your credit score -- If you're late with a payment -- but fewer than 30 days late -- does your credit score take a hit?

The answer's not so simple. See Late payments and credit scores Credit card interest rates remain unchanged -- Interest rates on new credit card offers were unchanged this week, according to the CreditCards. See Rate report Nonactivated cards can still impact a credit score -- A credit card that hasn't been activated may represent a security threat, but in the calculation of your credit score, an inactive card account's existence -- or its closure -- isn't treated differently than any other credit card See Inactive credit card Credit card interest rates end record run of declines -- Interest rates on new credit card offers rose this week, according to the CreditCards.

See Rate report Responsible borrowing can protect credit score from limit cuts -- When the bank cuts a cardholder's line of credit -- a common occurence in recent years -- a history of responsible borrowing can protect against credit scoring damage. See Credit scores Credit card interest rates' slide continues -- Interest rates on new credit card offers declined for a record fifth straight week, according to the CreditCards. See Interest rates Look to credit reports to understand loan denials -- A reader wondering why he was rejected for a credit card loan should turn to his credit report to understand why the lender made the move See Credit reports Credit card interest rates fall for record 4th straight week -- Card rates continue to be volatile, with cards entering and exiting the market as the industry -- faced with the recession and new regulations -- rapidly changes See Rate report To preserve credit score, don't leave credit cards unused -- If maintaining your credit score is a primary concern, don't leave credit cards unused.

See Credit score Credit card lending standards keep tightening, Fed report says -- It became tougher to get a credit card in early , according to the latest data from the Federal Reserve, even as banks were more willing to offer other types of loans. See Lending Target's moves send credit card interest rates to 3rd straight decline -- Credit card interest rates fell again, according to the CreditCards.

See Rate report Federal Reserve leaves interest rates unchanged again -- Credit cardholders in good standing likely won't see their interest rates go up anytime soon, thanks to a key decision by the Federal Reserve on Wednesday. See Fed States stepping up to limit pre-employment credit checks -- If you're unemployed and suffering from bad credit, a growing number of states' lawmakers want to remove one barrier between you and a new job: See Credit checks Focus on finances -- not your credit score -- when repaying a loan -- The decision to repay a loan rapidly should be more about your finances than your credit score.

See Early repayment plan Citi's moves send interest rates down for 2nd straight week -- Interest rates on new credit card offers fell for the second straight week, according to the CreditCards. See Rate report 'Hard' inquiries have limited credit score impact -- Lenders' inquiries into a borrowers' credit history can drop their credit score -- but not by much.

See Credit score Interest rates fall as issuers modify credit card offers -- Interest rates on new credit card offers fell this week, according to the CreditCards. See Rate report Credit score suffers from being caught in 'balance chasing' loop -- "Balance chasing" by banks can leave borrowers with lower credit limits and credit scores See Credit scores Interest rates rise as credit card issuers tweak offers -- The industry continues to writhe and adjust as card issuers learn to cope with the Great Recession and new regulation See Rate report Credit card balances free fall in February -- Americans resumed their efforts to trim card balances last month according to newly released Fed data See Score damage Bad credit card issuer's moves send interest rates lower -- Interest rates on new credit card offers fell this week, according to the CreditCards.

See Rate report High balance on just one card can hurt credit score -- Check your credit score and keep all your cards' balances low or you could upset your attempt to refinance a home See Balance hurts refi odds Capital One's business card moves send interest rates higher -- Interest rates on new credit card offers rose this week, according to the CreditCards. See Rate report Gift card rules mean fewer fees, more time to use cards -- Concerned that your old gift cards may become little more than worthless plastic before you get the chance to use them?

That's much less likely than it used to be. See Gift card rules Canceling a card can hurt your credit score -- Forced to choose between paying a new fee on your credit card or closing the account? Consider the impact on your credit score. See Canceling a card Credit card interest rates fall after Wells Fargo cuts APRs -- In what it called a "competitive pricing" move, Wells Fargo drove down the average rates on new credit cards this week by lowering the rates on four of its credit cards.

See Rate report Federal Reserve leaves interest rates at historic lows -- Smile, credit cardholders. A decision Tuesday by the Federal Reserve means that, barring a big mistake on your part, your credit card's interest rate won't be increasing anytime soon. See FOMC Piggybacking's just one step en route to a better credit score -- Borrowers who want to boost their credit scores need to examine their own credit reports first before becoming authorized cardholders on other accounts.

See Piggyback Credit card interest rates jump, approach record highs -- Credit card interest rates reached their second-highest level on record after U. Bank raised rates on several of its cards. See Rate report When refinancing, closing credit card accounts can cost you -- When in the midst of a home refinancing and considering an account closure, experts say the price of credit score damage is likely to outweigh the cost of any potential annual fees.

See Loan Consumer credit card balances fall for 16th straight month -- Americans increased their overall consumer debt in January for the first time in a year, even as continuing to trim their credit card balances. See Rate report Sharing a roof with a parent doesn't mean sharing their bankruptcy -- Adult children who share an address with a parent don't also need to share the credit score damage when that parent files for bankruptcy. See Bankruptcy Consumer credit complaints see huge jump, FTC says -- Identity theft again topped the list of consumer complaints made to the Federal Trade Commission in , but the number of Americans ticked off about their credit showed the sharpest increase.

See FTC Interest rates surge higher as credit card reform arrives -- Banks jacked interest rates to record levels this week, getting in their final licks against consumers ahead of the new credit card regulations. First, they promote fraud and will hold you accountable for their lack of security features. Before starting Stripe, be very wary about this company and what you sell. If you sell any type of electronics you will be shut down immediately.

Its not listed on their list of companies they dont accept, but after a few months they will shut you down immediately for selling any type of electronics online. These scam artists will approve you and then say ok you setup for 2 day deposits. When you take a credit card order, you must always make sure to ship to the credit card billable address or else you will lose any charge backs for non receipt of merchandise.

Which means ever single stolen credit card will go through. Meaning that you have to go into your Stripe account and immediately check every single transaction to make sure the credit cards billable address was verified. If not every single transaction goes through. When Stripe was grilled for weeks they gave every single lying answer imaginable.

Only the zip code is validated not the most important feature the address. And they do nothing whatsoever to protect the seller. Again another lie by Stripe. How would the customer know you use Stripe, how could the customer contact Stripe immediatlely after a purchase, reality is they didnt. They will say that just to close your account and hold your funds. And here comes th bigger game by these scumbags. You log in and they say in 2 days you get the money, when the 2nd day rolls around, mysteriously another 24 hours rolls around and it keeps on repeating it.

You cant refund a customer. So legally if Stripe has the funds and you have no ability to refund the money, Stripe is legally responsible for the chargeback because your not paid, so your under no legal obligation to ship anything. Check your credit report and if these aholes put anything on it sue them.

10 smart ways to pay off your credit card debt fast

Most importantly, there is now way to contact Stripe. All their phone numbers are recordings that you cant reach anyone nor leave a message. These scam artists hide behind an email system, lie to your face, steal your money, promote fraud, the works. Just make sure you have a real processing company not some wanna be as a back up. Stripe does not care about sellers truefully.

I am using stripe since 2 months, no chargeback or dispute so far. I have set the level of risk filters very tense, so you can not even pay at the moment if you are on vacation in another country. Seems to work fine. Hi Mark, I like this article…but am a bit concerned as to the date structure around it. It shows that the article was updated as of July , but has comments listed from two 2 years ago. With that said, one must to assume that now that it is March of , that…this scenario may no longer be valid.

The number one consideration is Security and Risk Management. Process the funds and settle. The landscape is always changing in this sector. The way money is moving into the digital plan, with security getting better and better every day…couple that with mass consumer acceptance…and you have a winning solution on your hands. Yeah sheesh Freshbooks had a small bug with an Overseas client. There is a good chance these signups were fraud and someone used stolen credit cards. Did you check these transactions?

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Stripe has a good filtering system called Radar where you can implement special rules to block suspicious payments. New to stripe and new to selling online all together. But still i find it crazy that some one can do this. In theory any one who has purchased any thing from me via stripe can just say they dont recognise the transaction on the card statement and get a full refund immediately.

I was considering Stripe, but after reading this article I am confused.. I was suggested Cardinity. It seems reliable and cost-effective, but I will check what benefits it offers and then decide. Wow, good to see this and a few other warning reviews right as we were about to make the switch from PayPal we DETEST their inconvenient new interface. The customer reached out to us that they mistakenly issued a dispute and we submitted all evidence including their statement that they withdraw the dispute.

We are moving back to Paypal as well. I had this SAME thing happen. The customer openly admitted it was a mistake, had all evidence and they decided in their favor. The customer admitted he filed the charge-back by mistake, so I sent every single evidence to stripe: Dispute lost, support tells me that I lost because I needed to provide proof that the charge-back was already cancelled! I processed way more transactions with paypal and only this one time I called, saying I had evidence the person was trying to fraud, not even showing them what it was, and they unfroze the funds and cancelled the charge-back.

They are just animals. Suddenly they closed our account and refunded all the transactions we ever had! We wrote 2 times to the support, three days are gone and still no answer. Now we are going back to PayPal and we have to ask payers to pay again for the service. Still waiting for an answer from them.

As today we lost Great article, thanks for posting. I was rejected by Stripe today because they deemed my business to be MLM. Which it is not. I have a unique news website with an affiliate program going live with both in January Does anyone know of a good provider for these needs?

I have been hit by Stripe yesterday. Yesterday I got an email saying I was being terminated for illegal activity, high risk or fraudulent activity. I have NEVER had a dispute in the twelve months I have used them nor has there ever been any illegal or fraudulent activity on my behalf.

In their latest email they bizarrely linked me to a blog that was written in August as their legal argument. So as a legit business that has never had any kind of problem, they are now crippling my company by turning me off for a reason only they know about AND they are retaining my money until March next year.

It is completely illegal to terminate and retain money with no just cause. As much as I signed up to their terms and conditions, they have to abide by them also. Unfortunately two weeks out from Xmas I am left with cash I now cannot touch and a store that only accepts Paypal…I have so many built up expletives I want to vent here but in the vein of professionalism, I shall go outside and provide that spectacle to my neighbours…If there is an ANTI Stripe site anywhere, let me know so I can sign up.

This article is full of nonsense. Often people wants to accept payments at all costs and, of course, a lot of fraud happens. In any case, comparing paypal with stripe is absolutely idiotic. Nothing to do and stripe is not miles but light-years ahead. Thanks for the comment, however, this post was written before Stripe radar existed.


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  3. !

    4. In fact, we have an awesome post coming out about how to use it soon. Stripe has definitely made improvements over the years. Stripe has under-the-table alliances with the banks. They will never look for your interest because they know that their target market is stupid and lazy. Stripe could be good for a startup whose making a little money here and there but if you are scaling up, then Stripe is not the company to trust. Their website also tricks you into entering a website During signup … Unbeknownst to you though, this website detail you enter is what your charge appears as on your customers statement.

    I did find the option elsewhere on their site to correct this when my customer who created the dispute communicated with me. Regardless of them advising their bank immediately of their error and in spite of insurmountable evidence submitted by me immediately, Stripe eventual response was dispute lost.

    I was not bluffing though. Corporate Criminals must be stopped. It looks like some activity on your account was misidentified as fraudulent, causing potential charge declines and the cancellation of your account. We sincerely apologize for any frustration this caused—we take these problems very seriously. I am a medical doctor and used Stripe for subscription plans membership arrangement at my clinic and administrative services to be paid up front. I had an excellent record no chargebacks, no disputes, steady growth. Suddenly they notify me that my account will be closed in a few days, claiming I run an online pharmacy!

    Upon receiving information stating otherwise, they still proceed to shut down the account. As a consequence I will suffer significant economic losses income from subscription plans. Stripe is in my opinion not a reliable business partner. We run a telehealth service for medical providers and use Stripe for subscription plans.

    We have been a stripe customer for 4 years. No charge backs, no disputes. We have nothing to do with pharmaceuticals. Our business will be severely disrupted while we scramble to come up with an alternative and lose access to all our subscription credit cards. We get no response to email and they refuse to talk about it over chat. I agree, Stripe is not a reliable business partner and clearly does not care about their customers ability to continue doing business.


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      8. So I have a small business. I want customers to be able to stay on website and pay. Suggestions for any system? We had 0 disputes and 0 chargebacks but somehow they decided we were not deem of Stripe. Very frustrated with Stripe. Have been trying to get the matter resolved for two months now. Not able to talk with anyone on the phone and the email support has been next to worthless. One would think they would want to actively work with a company to resolve matters like this.

      This is the worst processor ever! I asked them to approve website before opening account. Got approval moved away and paid freelancer to do it. Just 1 test transaction and it got blocked.. They are totally insane. Thank you for this post, I received the same email this morning. Did they end up telling you any reason as why you were originally flagged by their system to trigger being high risk in the first place? And I was wondering how you could resolve it with them, I know that they reached out to you, did you have to show them anything or were they willing to reinstate your account at the point of you reaching out?

      Hey Charles, this post was originally written in Here is our follow up post: Stripe has gotten a lot better about these things. We recommend simply reaching out to their support team and they should be able to help. They processed thousands of stolen credit card fraudulent transactions on my site, over a 72 hour period back in March.

      They then refused to refund the transactions for me.