quote:

Originally posted by benny6:
Here's the complications with credit cards. Who would I use? This is for business and I'm in the firearms business. Credit cards have become horrifically political and I'm skeptical about using a credit card from Chase, Capital One, Discover, etc, for a firearms business.

I guess I can just use the credit card for business like filling the gas tank or eating out.

Tony.

Navy Federal is your best bet. I use them for my business and personal.

Navy Federal is a pretty good credit union I agree. I got an account at 18 and stopped using them at one point for at least 20 years, plus or minus. I started using them again when my kids needed credit cards. They kept my account open for all that time with like 78 dollars in there. lol

quote:

Credit cards have become horrifically political and I'm skeptical about using a credit card from Chase, Capital One, Discover, etc, for a firearms business.

I don't think you'd have to worry about Capital One. They own the Cabela's Club Mastercard, and firearms and ammo are one of Cabela's/Bass Pro's biggest sellers. I even got 10% off the top of an ammo purchase on Monday. (All Mondays this month are this special pricing.) Being a FFL, you are already on a government "list" anyway.

I dont know your situation or how often you use the debit card but I preach constantly about using CC not debit.

If your debit card gets compromised its your money on the line till its cleared. It could be 2 days or 2 months.

If its CC its their money on the line and nothing out of your pocket.

what gpbst3 said!

Message received! Thanks for all the support and advice. I do have a Chase Visa with $0 balance that I could start using and a USAA Credit card that I use for personal purchases that I can start using for business. I'm only using about 30% of my available balance on that card.

I'll investigate Navy Federal as well.

I also have an Apple card with $0 balance.

Tony.

Update!

I just logged into my bank to see if the charges processed. I was told I had to wait until they cleared before I filed a claim. The funds hold was supposed to end today.

The fraudulent charged disappeared! My money is no longer being held hostage! I promptly transferred funds from checking to savings since there's a $500 overdraft limit in case this happens again.

I don't pray much, but when I do, it's because I am asking for The Lord's intervention. I made a vow that when I actually have answered prayers, I give credit to God. I did pray about this when it happened and a couple of times since then, and the prayers were heard and answered.

Tony.

There's been a number of times the Lord has come through for me in similar financial situations.

quote:

Originally posted by benny6:

The fraudulent charged disappeared! My money is no longer being held hostage!

Fantastic! Does your bank (credit union) give you the ability to lock the card?

Navy Federal has this. The debit card can be locked / unlocked at any time, via either the website or the iThing app. I keep my debit card locked at all times except when I unlock it for a transaction, and then promptly lock it again.

This may or may not apply to your topic, but I had a similar experience a few years ago.

I have $$$ at 2 different credit unions. (I prefer credit unions over big bad banks).

My debit card was compromised then and it was a big ol giant pain in the bohonkus.

What saved my butt at the moment was I had $$ in my 2nd credit union. I have checking and savings in each credit union, just in case.

In my case at the time, I just started using my 2nd credit union in the meantime. (at times over the years I've flip flopped them a few times for various reasons).

Worked just great. While #1 credit union was trying to get things straightened out I was able to simply shift over to credit union #2 which also had checking and savings accounts with plenty of $$$$ to operate with.

I'm glad that some years back someone told me to do this, not have all my $$$ in one place. Never put all your eggs in one basket per the old saying. I just decided to use #1 credit union for my every day use and began putting more money in credit union every month until it had a good hefty balance in checking and savings.

Glad you got your fiasco straightened out. Nothing sucks much worse than having your $$$$ tied up and you can't use it.
.

quote:

Originally posted by V-Tail:

quote:

Originally posted by benny6:

The fraudulent charged disappeared! My money is no longer being held hostage!

Fantastic! Does your bank (credit union) give you the ability to lock the card?

Navy Federal has this. The debit card can be locked / unlocked at any time, via either the website or the iThing app. I keep my debit card locked at all times except when I unlock it for a transaction, and then promptly lock it again.

I just checked, and yes, my bank does have this feature. I never knew it existed, so off it will go!

Tony.

quote:

Originally posted by benny6:
Credit cards have become horrifically political and I'm skeptical about using a credit card from Chase, Capital One, Discover, etc, for a firearms business.
Tony.

Credit card processing and bank accounts were always my issue with finding a bank to help firearms business (had to go with a local credit union because the big banks wouldn't open a bank account for a scary firearm business). They never seemed to care about the actual credit card side for purchasing stuff. I've had wells Fargo credit card and most recently I've had the chase ink card and it hasn't been an issue.

Glad to hear it's being worked out. I've had a handful of cards hacked or stolen (presumably by salespeople) over the years. Banks are pretty good anymore about noticing it and asking you if a particular charge is valid or not.

Back in about 2011 I had my electric furnace and water heater replaced with gas models and AC installed. It all came up to about $13K so I financed it through the contractor. They issued me a 0% Wells Fargo credit card, billed the cost to that card and I just made payments on it like any other CC. I paid it off in 2 or 3 years. Several years later I got a statement in the mail from Wells Fargo for that card, for something like $16K from an HVAC contractor in California. I'd never used the card for anything else, it never left my possession, hell it never even left my gun safe, and I've never lived in California. So somebody at either the bank (not likely) or the contractor stole the number. I talked to the bank and they did their usual "investigation" and eventually cancelled both the charge and the card, but it took several months.

quote:

Originally posted by Expert308:

somebody at either the bank (not likely) or the contractor stole the number.

Other possibilities are that the contractor got hacked, or a clerical person at an HVAC company made a data entry error when entering information for a legitimate sale, and mistakenly selected your account from the HVAC customer database -- maybe another customer with a similar name.

quote:

Originally posted by benny6:
Message received! Thanks for all the support and advice. I do have a Chase Visa with $0 balance that I could start using and a USAA Credit card that I use for personal purchases that I can start using for business. I'm only using about 30% of my available balance on that card.

I'll investigate Navy Federal as well.

I also have an Apple card with $0 balance.

Tony.

Tony, use the card with the best cash back option that you have for all your business purchases, or, one that gives you miles for travel, it's a great way to gain a return on all the items you buy for work vs paying them on a plain jane CC.

Link

Chase Ink Business card and Amex Blue area to rated cards with 1-2% back.