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Article ID: KB58
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Created: February 08, 2008
Viewed: 3184

On-Line Credit Card Application Terms

Some of the terms used on the credit card application are a little confusing for some small organizations.

 

We have defined a few here.  Let us know if this list falls short for you.

 

Average Ticket Size:

Average expected size of donations/contributions.

 

Average Monthly Volume:

Average number of monthly transactions you EXPECT/ANTICIPATE.

 

Ownership Percentages

A political campaign or non-profit does not have owners.  But it does have officers.  The banks need names of real persons who are responsible to the consumer (donor/contributor) for any acts of malfeasance.

 

Trade Suppliers

Anyone you make regular (quarterly, monthly) payments to, Web Hosting, Mail Box (not US Postal Service) and office space.  Or that you have a line of credit with that you use semi regular (Promotional products, printers). 

 

 



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