Tuesday, January 22, 2008
Cash Advance Minimums to Rise to $10,000
Tired of chasing all those small deals? Don't worry, you won't have to starting soon. Many of the cash advance "banks" are planning to raise their minimums to $10,000 per month in credit card processing volume in the near future to get deals funded. This means that a lot of the marketing that targets low-end customers will no longer be as viable. It also means that the banks that continue to do deals in the low end, say $2,500-$5,000 a month in credit card processing will get more business. I see cash advance banks that take the smaller deals as developing stronger relationships with ISO's as it makes more sense to do most of your deals with one bank that can handle all your business.
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1 comment:
wow, $10,000 is a great number. the merchant cash advances that i got were only $2,500-$7,500-- had i known there were ones available with amounts so high i might have considered it as an option.
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